Friday, March 14, 2008

$31,850 is the new definition of rich

How rich do you feel if you are making $31,850 or more?

If you are like most families and individuals in America, I imagine that you don’t. In fact I would say most would feel relatively poor. Not because of a lack of luxury items or failing in a competition with the Jones’ but because of a scarcity of essentials and a knowledge that loss of everything is possible.

Americans in the middle class don’t feel rich because they are the ones losing their homes to the mortgage crisis. They are the ones incapable of affording better colleges (or sometimes any college) for their children. They are the families most often without healthcare coverage and unable to afford medical costs.

And they are the ones that are going to feel even worse if Democrats, and the Presidential candidates Senator Clinton and Senator Obama, get their way. I don’t say this because of some ideal, or dedication to the Republican Party. I say this because that is exactly what they are voting for.

“Senators voted 52-47 to reject a move to extend tax cuts for middle- and higher-income taxpayers, investors and people inheriting businesses and big estates.”


and

“Obama and Clinton both promise to reverse Bush's tax cuts for wealthier taxpayers, but the Democratic budget they'll be voting for would allow income tax rates to go up on individuals making as little as $31,850 and couples earning $63,700 or more.”


So, if you make $31,850 or more you may not feel like Bill Gates and Warren Buffett but you are going to get taxed like them.

This is not a surprise because for all the statements by Democrats that running scared from Iraq will turn the economy around, and their implication that universal healthcare is the same thing as free health care the facts are that more money will come out of our pockets to pay for it all. Your pocket, whether or not any of the things you will be paying for will provide a single benefit for you or those you know.

This is what a Democratic President will provide. Some may believe that this is a small price to pay. Some may believe that all businesses should pay more in taxes. And some may believe that terrorists and those hostile to the existence of America will give up their fights just because we turn our backs.

But I believe that increasing the taxes that the middle-class and businesses pay will not improve the economy. I believe that giving money TO problems rather than spending money to FIX the problems is foolish. I believe that turning your back on a bar fight will get your head cracked open from a chair smashed upon it. I believe that nothing is free, and some things are too expensive to be worthwhile.

The Democratic candidates have marched across America saying they will only tax the rich. They have said that they will only affect big business. They have said that they will make America safer. All are great things. But the facts of their actions indicate they are lying if not confused.

“Under both Democratic plans, tax rates would increase by 3 percentage points for each of the 25 percent, 28 percent and 33 percent brackets. At present, the 25 percent bracket begins at $31,850 for individuals and $63,700 for married couples. The 35 percent bracket on incomes over $349,700 would jump to 39.6 percent.”


So here is the big question for the up-coming election. If you aren’t rich at $31,850 and the Democrats are going to increase your taxes, what other plan proposed by them is equally skewed to your disadvantage?

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1 Comments:

At 2:22 AM, March 16, 2008 , Anonymous Marwick said...

Good find. I linked to you. They conveniently forget that the Bush tax cuts went down into the lower tax brackets and took millions off the tax roles altogether.

Need to get the word out on this!

 

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