------------“I freed a thousand slaves I could have freed a thousand more if only they knew they were slaves.” Harriet Tubman --------------- "everything in this world exudes crime" Baudelaire ------------------------------------------- king of the gramatically incorrect, last of the two finger typist------------------------the truth, uncut funk, da bomb..HOME OF THE SIX MINUTE BLOG POST STR8 FROM BRAINCELL TO CYBERVILLE
Showing posts with label tax breaks. Show all posts
Showing posts with label tax breaks. Show all posts
Sunday, August 28, 2011
Thursday, December 02, 2010
Deficit Reduction Plan Takes from Poor and middle class to reward the wealthy

The guiding principle of the proposal is not to reduce the deficit, but rather to establish an upper limit on revenue — not lower. The obvious point agreed upon by the Democrats, Republicans and other members of the commission is tax cuts for the rich.
Case in point, the proposed tax cuts obviate mortgage interest and health benefits deductibles — things that the middle class and lower economic groups depend on. Yet, all gained from these tax cuts. From my reading and interpretation the tax cuts will be used to reduce the top marginal and corporate tax rates. So, in essence the breaks that regular folks receive will currently result in larger breaks for the wealthy, who do not need them. Don’t get me wrong, I am not a socialist, but rather a pragmatist who understands basic math.
Another example is the proposed increase in the retirement age for Social Security. The commission has suggested that the age to be eligible to receive social security be raised to 69, in line with the increase in life expectancy of U.S. citizens. The problem is that most Americans do not have jobs where they sit on their ‘azzez’ all day. Not to mention that African Americans and minorities, for example, have a life expectancy less than the current age for retirement under Social Security. Which, in turn, means that to expect someone to work more years labor-intensive job than somebody like a politician, who sits on their butt behind a desk, is just foul! The truth is that the rich and wealthy live longer and they don’t need Social Security for a safety net.
No way in the world is the work of a garbage man, teacher, janitor or day laborer as easy as an executive, banker or Wall Street lawyer.
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