What is Income Inequality? - There is a Positive Solution for This, But the White House is 100% Against It Also read below: The Minimum Wage Solution and History Proves that Higher Progressive Tax Rates Kill the American Dream Some people believe that the government should force personal income controls as what France has today as a Socialist State government. This is where France has up top 70% tax rates to punish those who save and invest, and take their money to re-distribute it as cash entitlements to others by the government. This is a true form of a Socialist State government. The American government is dramatically expanding this re-distribution model today. Free cell phones and money for the poor who now can buy beer, junk food, McDonalds, and even steak and lobster with the new food stamp debt cards today. In America, over 30 million people receive checks from the IRS when they paid no income taxes at all. This is another form of re-distribution. The press and White House are now promoting that it is not fair that Americans who work hard, save and invest for 30+ years that their personal wealth continues to grow faster than those who do not. So their solution is to increase taxes again. Well, from 2012 to 2013, tax rates (which includes the Obamacare income tax of up to 3.9%, that many of you will soon discover) have soard. Federal Income personal tax rates jumped from 35% to 39.9%, plus Obamacare personal income tax rates from 0% in 2012 to 3.9%, and taxes on stock dividends no matter how much you earn soared from 15% to 24.9%. The radical left is choking out working Americans to get ahead in life. They are now pushing for up to 70% tax rates which will crush America. Positive Solution If the radical left was honest and wanted Income Equality then they would pass a law that the first $25,000 a person earned is 100% tax free, with a flat 20% on all income, including dividends and capital gains, no matter how much a person earned. This would eliminate the Income Class War from the Progressives, where everyone pays the same tax rate. The family deduction would be eliminated, but the IRA, Healthcare, first and second home interest deductions would be increased for everyone equally. History Proved that Higher Progressive Tax Rates Kills the American Dream When President Reagan became president, the federal income tax rate under Jimmy Carter was 70%. In 1981, Reagan cut a deal with the moderate Democratic Congress to drop the tax rate to a flat 28% across the board on the promise that Congress would also cut spending. Reagans idea worked. The US Treasury received record tax revenues at a flat 28% tax rate compared to President Carters 70% tax rate and Income Class War, and pro-socialist model. Under Reagan and Bush going forward, more minorities and poor Americans became first time homeowners and business owners than in any other time in American history. Minorities began to vote for Republicans year after year. In 1994, the first time in 50 years, the Republican Party won control over Congress, and delivered a balanced budget. Since 2006, when the Democrats took over Congress again, Federal spending and entitlement programs began to soar, as they promoted Income Class Wars, and promoted income class and race hate. Today, we once again have a record number of Americans back on welfare, with fewer minorities as business and homeowners. Minimum Wage Solution The Left is not telling you that the Labor Union wages are based on the Federal Minimum Wage Rate. For example, a union worker is paid under contract as the Federal Min. Wage Rate plus $30 per hour. So if the Federal Min. Wage rate is increased by $4, then all labor union members, even is they earn $50 per hour, automatically receives a $4 per hour increase. The min. wage argument is not about the poor. This is Income Class War to fool the poor. It is really about the labor unions expanding with forced government increases on the private section like General Motors and Ford, for the Labor Unions, they funnel to all union members. So the price of cars are increased where the poor pay higher prices for cars and everything, thus making it even harder to get ahead for everyone. If the Left truly believed in what what say, then states like IL, NY, PA, CA, WA, CO, MI which are extremely Progressive states, would have already increased the State min. wage to $12 today. The union contracts are not tied to the State Min. Wage. they are tied to the Federal Min. Wage. So, once again, the Progressives are exposed as they push to convert America into a Socialist France, and they are doing just that. Under the US Constitution, each State has the right to exercise their States Rights to set their own State Min. Wage to anything they want to. So if the Progressives in New York want a $12 Min. wage, then the Progressive State of New York should pass that law, and leave the Federal Min. Wage Rate alone for now.
Posted on: Tue, 21 Jan 2014 12:17:58 +0000
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