"For the well-off, this could be the best tax day since the early 1930s: Top tax rates on ordinary income, dividends, estates, and gifts will remain at or near historically low levels for at least the next two years. That's thanks in part to legislation passed in December 2010 by the 111th Congress and signed by President Barack Obama."
from How the Rich Pay No Taxes by Jesse Drucker, posted yesterday on MSN Money Partner.I'm going to begin this year's posts by discussing something that's been on my mind for some time. Americans are feeling hopeless right now. Why? A lot of people are out of work and those that do have jobs are struggling to make ends meet. Health insurance doesn't cover the most important problems facing an ageing population many of whom have just had their life savings either seriously dented or entirely wiped out due to losses in the market and unemployment. Does Washington give a shit? You sure couldn't tell it by the vote this week. They're cutting education, social programs and throwing public employees to the wolves. They're more worried about how much public money (read public scrutiny) goes to candidates for federal offices. The more they cut that, the more advantage a wealthy candidate has over the other guy. The tax cuts they've been talking about for weeks now didn't go to the poor or the unemployed. Everywhere you turn, money is being funnelled not to people who need it but to people who are simply GREEDY!
And therein lies the problem. In this country, we believe everyman has the right to make as much money as he can. Now I know I'm gonna be visited by Republican ninjas in the middle of the night, so if this is my last post you'll know who's responsible. But here's my point. There's a deficit? Fine! Let's tax the shit out out the rich!
Another quote from Mr. Drucker's article:
"For the 400 U.S. taxpayers with the highest adjusted gross income, the effective federal income tax rate -- what they actually pay -- fell from almost 30 percent in 1995 to just under 17 percent in 2007, according to the IRS. And for the approximately 1.4 million people who make up the top 1 percent of taxpayers, the effective federal income tax rate dropped from 29 percent to 23 percent in 2008. It may seem too fantastic to be true, but the top 400 end up paying a lower rate than the next 1,399,600 or so."
Let me say that again. LET'S TAX THE SHIT OUT OF THE RICH!!!Why not? Oh, don't tell me I'm a bleeding heart liberal. What right have so few got to control so much while the majority of people in this country are quite understandably unhappy with the way things are? Instead of taxing the shit out of them, the goddamn congress is giving them goddamn tax cuts. WHY??? DOES THE GODDAMN POODLE NEED A HAIRCUT?
We need health insurance for everyone in this country. And I'm not talking about this patchwork system that's in place now that's gonna spring a leak at any time. We need a serious look at jobs for the middle class in this country. In case you hadn't noticed THERE AREN'T ANY!! If you're not a stock broker, or supporting the financial system in this country, you're slinging hamburgers or working at Walmart. That's because all the manufacturing jobs have been sent overseas. Why? BECAUSE RICH PEOPLE WEREN'T MAKING ENOUGH GODDAMN MONEY! So screw the unions, screw the sick, screw the poor fucker out there just trying to make it from one day to the next.
My friends, this has got to stop. Eventually there's gonna be too many people out there who are hungry and sick of voting for liars who say they'll fix the problem only to become part of it after they've been elected. WE NEED A CAP ON WEALTH IN THIS COUNTRY. TAXING THE SHIT OUT OF CORPORATIONS AND WEALTHY INDIVIDUALS IS NOT WRONG. IT'S WHAT HAPPENS WHEN THINGS ARE SO OUT OF BALANCE THE SYSTEM HAS STOPPED FUNCTIONING.
This is the beginning of a series of blogs on this subject. Americans need a real change, and we need to start by changing ourselves and our attitudes toward wealth.
