While many progressives are seeking to hike an historically very low Capital Gains Tax rate of 15% to 23.8% (compared to regular personal income tax rates), some of the elite, who will pay more under such a change, are leaving public bread crumbs that an increase will hurt average income seniors and reduce their retirement … Continue reading A hike in Capital Gains tax rate won’t affect IRA or 401K savings withdrawal tax rates or your total $ in savings
The mistake - that so-called "liberal" progressives almost always make - is to ascribe good intentions to evil persons. They don't realize that not everyone is kind and reasonable at heart, and yet many of us too often apologize for our zeal, excuse our desire for factual discussion, and basically try to sell our positions … Continue reading Did you ever wonder why you never heard of wolf chops?
We learned today that there is too much money in the Social Security retirement fund and not enough money in the Social Security disability fund, so the Republican-dominated Congress seems determined to prevent transfers from the "rich" fund to the "poor" fund, allowing both to last until 2033. Otherwise, the disability fund would run out … Continue reading GOP thrust to stop transfers between Social Security funds may open a path for new progressive benefits’ improvement
Jared Bernstein recently asked how we can move forward with economic change in this country. Mine was one of many fine answers: The political solution to your question is even more politics. Two parties that espouse different social value views, but the same basic economic principles, now also decide in favor of the class that … Continue reading Even a small third party would exert tremendous influence on economic policies with swing vote
The day after the President's State of the Union address, many pundits are concerned with his reference to Social Security, a subject he continues to toss out as a bargaining chip with the GOP. Social Security is a worker program that has been used as a welfare program. Our 13.4% contributions (you plus your … Continue reading We should not use our Social Security worker contributions to pay for general welfare programs
While there has been much discussion about the AMT (Alternative Minimum Tax) and revising it upward so it affects fewer people, Social Security benefits have not received the same attention.The SSA website notes:Beginning in 1984, includes up to one-half of Social Security benefits as taxable income for taxpayers whose adjusted gross income, combined with half … Continue reading Social Security benefits keep dropping…
We need a separate political party that only focuses on economic equality – no social issues, idealogy, etc. – just plain fair taxes and benefits for the middle and lower class.With just a few votes in the Senate and a couple dozen in the House, this new party would wield enough power to move both … Continue reading We need a third party with no pure social issue concerns
Today, the news seems to be mirrors - MSNBC commentators, Politico writers and even the Huffy AOL, are arguing that entitlement cuts have to come fast, and that means the destruction of Social Security and Medicare.One of the most disgusting examples of this Pete Peterson type campaign was MSNBC introducing a segment on cuts for … Continue reading MSNBC and Politico Unite (it seems)