I cannot understand why the middle class is screaming at Obama who wants to keep Bush's tax cut for those earnings $ 120K/joint and $ 200K single but let the earners above those threshold pay taxes rates at around 39% versus 35%. Those middle class people are not affected, most of them are earnings below or slightly above the threshold. In addition, the figures are AGI!
The middle class has been brainwashed by greedies like Rush Limbaugh, Glenn Beck, Sean Hannity, Sarah Palin and others who are earning way above the threshold, hence they will be paying more taxes.
These rich people just blatantly lie about the calculation. Let's just say a family has an AGI of $ 260K. Limbaugh would tell that you are paying 4% more in taxes (39% minus 35%) or $ 260,000 X 4% = $ 10,400. That is way way wrong. The additional taxes is only $ 400 because the marginal AGI is taxed at a higher rate. This is the scare tactics that dumb people like Palin - who does not even read newspapers - or O'Donnell - who does not know the First Amendment - spewing their venom to criticize Obama. They are ignorant persons and preaching to ignorant people.
So the rich people want to get richer and richer and forget those who they exploit by claiming that it is good business practice to ship jobs overseas. Bill Gates' father said that 20 years ago the top 5% of the people own $ 8 trillion. And now the top 5% own $ 40 trillion. The gap between the rich and the poor keeps getting wider.
Let's just say that a rich person builds $ 200 million house with 360 degree view on top of a hill. Yet, when he drives out of the house, the road is not paved since the county does not have money to build road all the way down. He has to avoids pot holes along the to go to town, and when he reaches the destination, he encounters all kinds of homeless people who lost their jobs that the rich guy exported overseas. Every where he goes he is besieged by smelly panhandlers.
The question is: with all the money in the world, does he have quality life? Is he happy living in a $ 200 million house which becomes a golden cage?
That's what you get when you don't have a compassion for your fellow men. Then you scream "socialist" to those who have the good heart to share their blessings. |
