US government Entitlements for the RICH

 

US government Entitlements for the RICH

Many people don’t know that in America we have far more entitlement programs for the rich than for the poor.  In fact the rich do very well in America and they repay the country by paying very low or no taxes.

There are far too many entitlements to list so I will list a few that should be changed immediately.

Capital Gains Tax: The capital gains tax benefits the rich far more than the middle class and the poor.  When one group get ALL or most of the benefits that is an entitlement. 

It also robs the US treasury of needed money to run the government.  Rich people who own tens of millions in stock and other assets like real estate can sell these assets and they only pay 15% on their gain.  Keep in mind that over 75% of all wealthy Americans got their money the old fashioned way they INHERITED IT.  So capital gains rewards the rich and lazy who didn’t work for their money.

Since few if any middle-class Americans own much stock or real estate they benefit far less and the poor don’t benefit at all.

We must limit the amount of capital gains a person can claim in their lifetime to $2 million all other capital gains will be taxed at their income tax rate.

Social Security Tax:  The social security tax is 6.2% paid on every dollar of wages a worker earns with the employer paying the same 6.2% for a total of 12.4% - BUT the rich pay this tax on far less of their pay than the poor.

The rich have this tax capped at $106k.  So for Bill Gates and Warren Buffett and all those making over $106k are allowed to avoid this tax.  Brian Williams makes $10 million in salary and he pays the tax on just 1% of his wages.  The CEO making $50 million per year pays the Social Security tax on just one day’s wages.  The Wal-Mart mother pays on all her wages.  Sound fair to you?      

So the top 1% who own 50% of all financial assets and make 25% of all income pay the tax on about 1.% of their wages while the middle class and the poor pay the tax on 100%, all their wages. 

No wonder the social security system is going broke the RICH are screwing America.

We need to tax all wages with NO LIMIT. 

Income tax deductions:  For most Americans the deductions they are allowed are few because they don’t qualify for them.  On the other hand the rich can deduct almost everything they buy.  Warren Buffett bragged in the New York Times that he paid just a 17% tax rate while many who worked for him who made far less paid twice that rate or 34%.  Why is this fair?  It is an entitlement for the rich.  In fact the IRS report shows the top 1% made on average $8.4 million and paid just a 22% tax rate.  Many middle-class taxpayers pay a higher rate – in fact a nurse married to a fireman pays a higher rate that the rich and lazy. 

Taxes are too high the Republicans scream – we must lower the taxes on Bill and Warren and the other obscenely wealthy.

If you own a jet airplane you can land it on a public runway at a public taxpayer funded airport and the taxpayer will pay your fees.  When one of the billionaires flies into your airport you pay for their landing and other services.  Republicans response is anyone can own a $50 million plane so this is fair.

The IRS allows over 300,000 rich Americans to avoid paying taxes by keeping their wages and profits in Swiss banks.  The IRS estimates that they lose over $100 billion with a B, each year in taxes to this scheme.  Of course if you are a middle-class worker with wage in the US it is difficult to take advantage of this entitlement and so this benefits only the rich.  The IRS has agreed under REPUBLICAN pressure not to audit most of these accounts.

US government programs designed to help the poor are used by the rich too and they get more benefits.  A recent study showed that Medicare provided over $100 billion in payments to people who are rich.  These people had heart operations, and other operations and the taxpayers paid the bill.  Why?  Everyone pays the same Medicare premiums – rich and poor.

If we care about fairness we need to ask those rich enough to pay their own Medical bills to do so.  Medicare should be available to all, but if Bill Gates wants in he needs to pay a higher premium.  Why should working people pay for the wealthy to get medical care?

The same is true for Social Security.  Many multi-millionaires draw social security payments along with millions they make each year in retirement.  This needs to stop.  I know they paid in, so what.  They are greedy uncaring jerks if they take this money and they don’t need it because millions have to live on the $1,000 per month they get after working 40 years cleaning offices, serving these jerks coffee and doing their laundry.

We need programs that help those who need help.

There are virtually hundreds of tax laws that help only the rich.  We need to get rid of these.

Our current government system is of, by and for the rich – not the people.

Those of you who claim to be Christians need to start following the instruction of JC.

Matthew 22:39-40 

 

39"The second is like it, YOU SHALL LOVE YOUR NEIGHBOR AS YOURSELF.'

40" On these two commandments depend the whole Law and the Prophets."

Matthew 7:12 GOLDEN RULE -

12 “Therefore all things whatsoever ye would that men should do to you, do ye even so to them: for this is the law and the prophets.”

Matthew 25:44-46

44"Then they themselves also will answer, 'Lord, when did we see You hungry, or thirsty, or a stranger, or naked, or sick, or in prison, and did not take care of You?'

 45 "Then He will answer them, 'Truly I say to you, to the extent that you did not do it to one of the least of these, you did not do it to Me.'

 46"These will go away into eternal punishment, but the righteous into eternal life."

John 14:15 “If ye love me keep my commandments.”