Sunday, September 18, 2011

Obama's New Tax Plan

Monday Obama is going to call for a new minimum tax rate for anyone earning more than a million dollars. Obama wants to raise the percentage of the taxes that millions pay to the same as the middle class wage earnings. Obama is calling the proposal the "Buffett Rule", after the billionaire investor Warren E. Buffett who complains about America's richest pay a smaller percentage of taxes than middle class wage earners.

It is about time that someone has figured out that the "Trickle Down Economics" does not work. America's wealthy are taking the money they are saving on taxes and using the money to build the companies overseas. It has never made sense to me why the middle class pay a higher tax rate than the wealthy. It has come to the point where it has become very difficult for the middle class to survive, because they are killing us in taxes. America's middle class are struggling to survive and losing their homes and jobs left and right and they are driving us right into the ground with taxes. If something doesn't change soon there will no longer be a middle class we will be divided into two classes, the wealthy and the poor.

The problem I do have with the deal, is the Republicans will agree to the proposal if the Democrats agree to future cuts on Medicare and Medicaid. The problem with the Republicans is they are trying to do in America's poor and middle class. The Republics twist the arms of the Democrats to pass proposals or bills. It's like you have to take a step backwards in one problem area to take a step forward in another problem area. It is time for the wealthy to pay their fare share of taxes. They have had the opportunity to do something productive with their tax breaks. Year after year, they have proven without a doubt they will not do anything productive with the money they are saving on taxes. Now, it's time to take away their tax break without having to give the Republicans something they want. The Republicans are like dealing with a bunch of two year olds', the democrats have to bribe them to make any progress. How can you live in a democratic society if the laws are not equal across the board. That doesn't sound like a true democratic society to me. It is a Democratic society on Republican terms. The elderly and poor have a hard enough time surviving as it is now, cutting medicare and medicaid benefits is only going to make survival more difficult on those on medicare and medicaid.

The Republicans blame the Democrats for the economic stress this country is in. However, a Democrat has only been in office for a few years and prior to Obama we had a Republican for 8 years. The Republicans are throwing stones when they live in a glass house. The only thing they are trying to do is save the silver lining in their own pockets and they don't care what they have to do to keep their wallets fat. The Republicans have a theory, that the Democrats are trying to bring the country to a breaking point, so they can restructure the country. A Democrat hasn't been in office long enough to bring the country down. The fall of the economy began long before Obama was in office. The Republicans have been trying to make a two class society for as long as I remember. There is no such thing as the "American Dream" anymore. The "American Dream" is an almost impossible task to achieve, unless your in the income bracket the Republicans approve of. It is time to restructure the country, it is time to stop catering to the wealthy, so they won't throw a temper tantrum.

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