| | | Hi Jerome,
Actually our tax system is designed to motivate the poorest to become savers.
If you have a low income and have a capital gain - it is actually tax free.
The very basis of the American Dream is: if you go without and save your income it can grow and make you a wealthy person within your own lifetime.
Those savings are intended to be an aspirational goal so that your later years when working hard becomes physically impossible, you have more to rely on and live comfortably on income well beyond social security - which IS NOT INTENDED TO BE SO LUCRATIVE THAT ONE CAN LIVE OFF OF JUST THAT.
I know many who could retire but still work for themselves to have health insurance - another one of those government freebees that is given away free or greatly subsidized to those who never saved and have low income - It was made possible on the backs of high income people who had the 3.4% Obama healthcare taxed on top of a tax rate that was at 39.6% (with incomes over $250,000).
Welfare for the wealthy is a myth.
Just because they have gone without ,saved their money and been successful (read that they are getting a good return on their life's disciplined investments of a lifetime) and get a tax rate cut on a larger income and oh yes by the way a much smaller percent of a cut vs the lower income people) you liberals have the gall to call that welfare!
Your view is obscene and contrary to the American dream!
It is all about income redistribution for the sake of buying votes for politicians who will say and rob anything from anyone to get into a position of power. OH yea and while we're at it give themselves a pension and health care system vastly better that the citizenry.
Those who make high income pay the vast majority of the taxes paid by citizens.
The entire tax system is set up to motivate low income people to save and become higher income people.
If you are so unmotivated not to attempt to improve your life's income and status, then you have been trapped by your own lack of motivation and begin to accept crap like "welfare for the wealthy" political false hoods.
The real truth of the USA is the wealthy are a very generous class that give over 50% of their income to help those who are less advantaged/motivated to become generous to low income earners themselves.
A little story about America's system. We started our fight for independence because we disliked being taxed by someone who did not have the right to tax our work. The Royalty of England.
Taxation with out representation!
When George Washington led the freedom fighters,he was in fact one of the wealthiest citizens of the USA.
He lived at his uncle's plantation on the Potomic. When George married his wife Martha Dandridge Custis Washington.
George was Martha's second husband. Her first Husband was a very wealthy Frenchman who was a shipping magnate. He had died on a trip across the Atlantic to America. When George married Martha, Marth was worth 16 million! That's Bill Gates kind of wealth back then.
The USA and the American dream has always been controlled by the money and those who had it.
That's the beauty of the USA we can become wealthy on our own labors and not be held back because we do not happen to be in the lucky sperm club (ROYALTY or a MONARCHY DECENDENTS).
When the government of the USA gets so over taxing in taking away the fruits of our labor, the wealthy go elsewhere or quit working as the incentive has been diminished.
Welfare to the wealthy is a political false hood.
If the wealthy got a higher percentage reduction than the poor - you'd have a claim.
Reagan, Bush, Trump have always given a higher percent tax cut to the lower income rates That's not welfare - THAT"S GENEROSITY !!
You have your head up your ass to think otherwise!
Like What? - once again I refer to market based rates - not that of Yellen's 5 trillion flooding of markets with fiat money that took all yields for savers to ZERO as in ZIRP plans. Add to that negative interest rates that happened in even more countries.
I'd say the return on saved money should be at least 1-2 percent over the inflation rate - if it is to incentivise savings 3-4% WOULD BE EVEN BETTER AND MORE EFFECTIVE!
Bob |
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