Just Saying:
There was a beautiful story on local news the other day. A young military family was given a house mortgage free. It was a very nice house and the idea warms the heart until.....
Where did this "free" house come from. It was a forclosure by one of the large banks. They could not seem to sell it for what they were asking so they "gave" it to this family. Sounds good right.
I have nothing but good feelings for the military family who benefited from the gift.
My question is. Why don't some of these multi billionares give one of their many homes to struggling military families? Why doesn't the bank have the same feelings for those families that are struggling. I am not talking about those people who bought way over their income level. I am talking about middle class families who lost employment thanks to those same multibillionares who sent jobs to foreign countries and cut their US workforces by thousands of people. Is the bank writing off these gifts in order to cut their tax burden from 10% to nothing?
I don't know about you but I checked my tax returns for the last 5 years and we paid 25% tax. Why are a retired man and a teacher paying 25% and corporate executives are paying 12% at most?
I would love to be able to give to our military families, but I would hope I would not do it in order to cut my taxes and hide my other activity. That just seems wrong.
Some people want me to believe that cutting taxes to the rich will create millions of jobs here in the US. My question is how? And if that is true, why are they not creating jobs now instead of giving their top executives millions of dollars in free money while cutting their workforce in order to afford it.
I just don't get it. If you do, please explain in specifics. I don't want "what the other guy is doing wrong" I want what will you do, how will you do it and when will we see results.
Then the real question, How will congress get out of their pit and actually do something to help the American people?
Now there are some realities that have to be looked at here. This Millionare thing is misleading as all get out. the way truth is manipulated makes us think that Business Owners who are the major empoyers in this Country are all cheating us on their taxes.
ReplyDeleteThere are 3 kinds of Millionares
1) Those who have worked and saved all their lives to build retirement funds and now that they are retired live off the gains on their investments, they pay 15% on the profits. But they paid taxes like you and me on the money they saved and invested at the same or higher rates we paid so actually they paid taxes twice on their money.
2) People who earn over 1 million a year, typically they pay the top rate on their earnings just as you and I do. About 35% at that level
3) those who were born rich and live off the wealth earned by others. Mainly Political and Non-profit leaders who push through benifits for the rich while acting like they help the little guy, they usually pay the least. about 12% think warren buffet.
40% of those are of the first type and you raise their taxes and they suffer more than the other two types.
The average small business makes less than 1 million a year but they are over the 250k that is called raising taxes on the rich. raise their taxes and the employees are the ones who get hurt the worst.
You want to get the jobs back here, eliminate all the regulations the cost so much that the small business can not grow. It is not wages that send jobs overseas It is regulations.
the best solution is the Fair Tax. With that our economy would explode overnight.
Just me thinking
love your blog