Coming for the Money: Obama Eyes the Wealthy
James Dugan
The National conversation is beginning to change and Obama’s new tax reform, which makes the wealthy pay the same tax rate as the middle class, is the first cannon shot. Instead of squeezing out cents from the insolvent pension and retirement savings of hard working middle class Americans or pilfering from the Medicare and Social Security systems, America is now turning to the ideal of equity. Republicans can cry, Class Warfare Has Begun, but I say, “It is about time.”
For so long the middle and lower classes have been turned against each other in a fight for the crumbs that fall from Washington, the rich corporations and millionaires’ table. We have been huddled under the table blaming the poor for grabbing too much or the unemployed for their need to eat and survive. We have blamed the education system for daring to educate fairly and social security for providing a small level of financial protection. In fact, we even have blamed the Pentagon and the wars for our economic situations before we have had the guts to blame the rich. But unless the Republicans and FOX can poison the minds of the middle class who refuse to be associated with minorities, unions or the working class as they make and pinch their middle class salaries, real change could happen for the good of the nation.
The Republican mantra is that by taxing the rich, fewer jobs will be created and less money will be spent, thus causing another recession. But for the last three years, few jobs have been created and consumer confidence has all but eroded. Basic duties of states, such as transportation safety and education needs, are being tossed aside to balance budgets. The Federal government could help in these situations with revenue from a fairer tax structure that does not allow the wealthy to hide their tax obligations on investments.
Christina WelshI am no fan of Washington but I am less a fan of the wealthy, who horde their resources and walk around thinking that none of the pain and suffering caused by unemployment, violence, and poverty is their concern or doing. There is no reason in my mind that a person should have a taxable take home income of above $200,000. Anything over $200,000, should be considered excess and either spent in the economy or taxed at 75%. In the same vein, if you make over $200,000 dollars a year, then you should relinquish deducting any charitable or housing interest on your taxes. If we have minimum wage way lower than poverty level, then we should have maximum wage that is as extremely low and treat the excess as public funds.
The argument is always, “But I live in Manhattan or Laguna Beach and my 1 bedroom apartment cost 10,000 dollars a month.” Or, “I work harder than most lazy Americans, and deserve to reap the benefits off their sloth.” Well, move to somewhere more reasonable. And for the other guy, exploiting Americans to buy cell phones and using lines of credit for $500 handbags, is not working that hard or helping our hyper-consumerism. In fact, I do not even want to address their arguments because their problems are ridiculous when it comes to 18% unemployment (with the discouraged) and the rising numbers living without health care.
As of this morning, the rich are getting their private jets fueled up and stashing cash away in the Caymans. The eyes of America are turning towards them at last. Not even the powerful Republican protectors can save their sweet tax loopholes and for once in a very long time, they will have to be just like a us real Americans that pay our fair share.
Reader Comments (3)
Dugan
Thanks for the amusing lunch. At first I thought you were writing that as truth instead of satire. Luckily I realized my error before I called you a communist! Whew, what a reief! Sadly, some people out there actually do think like that which is scary...imagine capping every single person in this country on what they can make no matter what they do! We would be a third world nation in no time!
Wait, was this a satire? I hope so because Obama's "jobs" plan is so transparently political, it's hard to say he's doing anything other than throwing red meat to the base. There is no way this could pass and no democratics congressman has even introduced it to the house floor yet. Plus Obama himself extended the Bush tax cuts saying not so long ago that you couldn't raise taxes during a recession. It's hard to take him seriously any more. I'd like to get him away from a staged speech and find out what he actually thinks.
I'm all for doing what it takes to put money towards reducing the deficit but I can't be sure the government would actually use any increased revenue responsibly. Why give them more money when it's clear they can't manage the hundreds of billions they already have? I'd like to see some of the $48 billion in false Medicare claims or $60 billion in fraud from defense contractors overseas be addressed before we give our spending addicted government more cash with no guarantee they'll act any differently than they have been for the last 20 years.
http://www.philly.com/philly/news/politics/presidential/20110920_ap_factcheckarerichtaxedlessthansecretaries.html?cmpid=124488429
Good article, incomplete, but still good. The comments are also insightful, some of them at least. They speak to the problems of our tax structure on all the levels addressed above.
I mostly agree with Carraway that this whole issue has become entirely political. Obama has essentially decided to stop leading and start campaigning.