Romney's Tax Hike for the Middle Class

[d-ray657]

And to the extent that payments under Social Security and Medicare are considered as part of the budget that must be cut, payroll taxes toward Social Security and Medicare should be considered income taxes as well. When that is considered, the portion of folks who don't pay income tax shrinks considerably. A considerable portion of the others who don't pay income taxes are those who are collecting the benefits to which they contributed for their entire working life. Sorry of that is off topic, but it irks me every time I see someone mention that half of the people don't pay income tax. It just is not true.

Regards,

D-Ray

[BlueStreak]

Originally Posted by d-ray657

And to the extent that payments under Social Security and Medicare are considered as part of the budget that must be cut, payroll taxes toward Social Security and Medicare should be considered income taxes as well. When that is considered, the portion of folks who don't pay income tax shrinks considerably. A considerable portion of the others who don't pay income taxes are those who are collecting the benefits to which they contributed for their entire working life. Sorry of that is off topic, but it irks me every time I see someone mention that half of the people don't pay income tax. It just is not true.

Regards,

D-Ray

My pet peeve is the assertion that over 50% off all Americans are "....on some sort of public assistance." I don't know what the figure is, but, that just sounds unrealistically high.

Anybody have the numbers?

Dave

[d-ray657]

Originally Posted by BlueStreak

My pet peeve is the assertion that over 50% off all Americans are "....on some sort of public assistance." I don't know what the figure is, but, that just sounds unrealistically high.

Anybody have the numbers?

Dave

It is inaccurate to state it that way. If you believe the WSJ, however, in 2010, 49% of Americans lived in a household in which someone received some sort of assistance. One has to read that carefully, if one person in a household containing four people receives a government check, or medicaid or food stamps, that household counts. Saying that half the people receive government assistance overstates the number. Moreover, that number includes anyone who receives Medicare or Social Security - those folks who are collecting benefits toward which they contributed during their working lives. It includes folks who receive Medicaid, which includes the working poor, as is the case with food stamps. It also included households in which one member received unemployment benefits, a transitional payment. Moreover, the numbers are swelled because of the lingering effects of the Great Recession.

I would agree with a statement that the numbers are too high. It is absolutely a shame that the stratification of our incomes is so severe that folks who work for a living are so poor that they must have assistance to put food on the table. There is no excuse that capital is so highly valued over labor that those who labor are not paid enough to eat.

Regards,

D-Ray

[beej]

Speaking to the original question (and with the understanding that I'm on some serious pain medication at the moment) I see nothing surprising in the Romney tax plan. How that plan would end up reducing the national debt however escapes me particularly since Romney is emphaisizing an increase in military spending as an integral component of his campaign.

[merrylander]

According to this we are all on welfare

http://www.time.com/time/magazine/ar...123809,00.html

[BlueStreak]

Originally Posted by d-ray657

I would agree with a statement that the numbers are too high. It is absolutely a shame that the stratification of our incomes is so severe that folks who work for a living are so poor that they must have assistance to put food on the table. There is no excuse that capital is so highly valued over labor that those who labor are not paid enough to eat.

Regards,

D-Ray

That's the number I'd like to see, but I can't find any data on it. Because I happen to know people working for low wages and short hours that are on foodstamps. Because at <$9 an hour and at <30 hours a week, there is just no way. Especially not for a single Mom with a kid or two.

[Oerets]

When you consider the weakening of Unions especially after PACO and the lowering of pay along with befits what else would happen. Unions and the fear of them kept companies from being greedy. Now with that fear almost totally removed the final two obstacles of paying taxes and regulations being considered to excessive . Once they are gone so will the middle class!


Barney

[BlueStreak]

Originally Posted by Oerets

When you consider the weakening of Unions especially after PACO and the lowering of pay along with befits what else would happen. Unions and the fear of them kept companies from being greedy. Now with that fear almost totally removed the final two obstacles of paying taxes and regulations being considered to excessive . Once they are gone so will the middle class!


Barney

And, it's really beginning to show, Barney. I don't know if you're still working or retired, or how long it's been.....but they're getting cockier every day, it seems. Much of it is a function of the slow economy, but it is also because people have no backing and they know it.

Dave

[Oerets]

Originally Posted by BlueStreak

And, it's really beginning to show, Barney. I don't know if you're still working or retired, or how long it's been.....but they're getting cockier every day, it seems. Much of it is a function of the slow economy, but it is also because people have no backing and they know it.

Dave

Retired from a major carrier for a few years now. But wife is still doing time. She could retire any day but the youngest was in collage. With two sons and a large family I see and hear about it all the time.




Barney

[hillbilly]

Originally Posted by BlueStreak

That's the number I'd like to see, but I can't find any data on it. Because I happen to know people working for low wages and short hours that are on foodstamps. Because at <$9 an hour and at <30 hours a week, there is just no way. Especially not for a single Mom with a kid or two.

The single mom part is just heard way to often these days. Dunno why couples part company so easy, like it doesn't matter that ''they'' brought kids in to this world and have an obligation to make things work. My mom left dad and I went back and forth state to state. Made myself a promise that I'd never put my own kids though anything of that nature and I lived up to it. Wasn't always easy though.