Two Candidates with a Nasty Secret

[this_side_up]

In the coming election, two major candidates share a nasty secret. Twenty-five years ago the candidates voted for legislation that now hits middle-class retirees hard. Because of this legislation, many retirees now face effective income tax rates of 46 percent--- even though their household income may be less than $100,000.

Yet these same candidates are claiming that, if elected, they will help the middle class. Each candidate claims he will provide tax breaks for the 95 percent of all households with incomes under $250,000.

For retirees, that simply isn’t true.

Here’s the story.

(snip)


Regardless of party, there are only two conclusions. Either they don’t know what they are doing, or we can’t trust them.

Take your pick.

http://assetbuilder.com/blogs/scott_burns/archive/2008/10/10/two-candidates-with-a-nasty-secret.aspx

[sandnsea]

1. First, Obama is eliminating taxes on seniors

with incomes of less than $50,000. So right away, I don't trust the blogger who also obviously doesn't know what he's doing.

Second, our FICA trust fund was given away in tax cuts to the rich, which is we have less money to make social security solvent.

I hope this blogger isn't taken seriously by anybody.

[Warpy]

2. Biden has no excuse

because that's what the GOP always does, ties taxes and benefits to fixed dollar amounts. It's why poor people don't qualify for Medicaid--only the destitute do. It's why we had bracket creep in the progressive income tax that gave people huge tax increases they couldn't afford back in the 70s. They count on inflation increasing taxes and reducing benefits at the bottom and they pass the largesse along to the rich.

My guess is that Biden didn't read the fine print and failed to realize it wasn't indexed. Shame on him. Really.

[this_side_up]

3. No politician has any excuse for what they've done.

Every year they release their financial status....every year their portfolios
increase by a much greater amount of money or percentage than
the average person's. Should be interesting to see if they release
any info at all next year.

By taking tiny steps, the social status of the middle and poor class has decreased tremendously since St Ronnie Reagan. The end goal has always
been: 2 classes of people.....worldwide.....the mega-rich and
the poor.

By their acquiring all the riches and thus power and control over
the masses, another goal is achieved. Worldwide population
reduction which leaves more oil/gas for their toys.

But they cannot control global climate breakdown, so It will
get them and theirs in the end.

The politicians know EXACTLY what they are doing and what
the end result will be. Always have known, always will.

Why else would they all have so many advisors and so many
corporate friends.

Upper middle class will be the new upper poor and so on.