With the impending issue of our nation’s deficit, there are a couple of important aspects related to the budget that people need to be reminded of.
Unfortunately, conservatives just don’t get it.
Getting rid of loopholes and lowering tax rates for corporations and the wealthiest of Americans just isn’t fair.
The Warren Buffett analogy, which has been discussed by the media, holds true. Until Buffett pays a higher tax rate than his secretary, the tax system will never be fair.
Obviously, loopholes for wealthy Americans and corporations might be an issue worth examining, but that doesn’t mean that the tax rates should automatically be lowered once you eliminate most loopholes.
After doing some research to further explore the topic, I came across an online Huffington Post article from April 2012. The article, “Many Fortune 500 Companies Paid No Federal Income Tax Thanks to Popular Tax Break,” was written by Kim Dixon. After reading it, I discovered that between 2008 and 2011 over 20 companies paid no federal income tax, including General Electric.
So, while loopholes may play a role in corporations paying little or no federal income taxes, corporations do not deserve further breaks even after loopholes are eliminated. They simply aren’t owed any favors.
The Republicans need a reality check.
The fact is that the poor and middle classes have already paid enough. It wasn’t right that Americans had to bail out Wall Street while Wall Street didn’t pay for their actions.
Republicans want to continue to protect the rich?
The rich do not need to be protected.
Granted, there’s nothing wrong with someone being successful and becoming wealthy, but that doesn’t mean that they are exempt from paying their fair share in taxes.
The bottom line is that the deficit should not be fixed at the expense of the average American. The average American has sacrificed enough as it is.
It’s really not fair that Wall Street and other special interest groups are protected, while some families struggle to send their kids to college.
If people want to look to a model that has been successful in the past, our country should once again adopt Bill Clinton’s approach: the wealthiest Americans pay more taxes.
Once Bush came into office, the rich were shielded from paying their fair share.
Other issues that Republicans cannot comprehend are Social Security and Medicare.
It’s not right that Republicans call Social Security and Medicare entitlements when people pay into them. People earn these programs and they should not just be sent to the chopping block when some people may depend on those programs.
People need to be self-sufficient, but if the Republicans have their way there wouldn’t be anything to protect the average American against the rich.
If the Republicans want to know why they didn’t win the presidency in the recent election, they should realize that it was because the majority of them didn’t advocate for the average American.
And, while it may be one thing to examine the issue of people who collect Social Security and Medicare who don’t need it, it’s another thing to keep increasing the age of eligibility with Social Security but not fairly increase the cost of living.
A very alarming aspect is that more people don’t seem to realize that the government takes money from Social Security and uses it for other purposes.
The most important thing is that America needs to stop being a society that protects the wealthy or special interest groups over the average American.
Inequality is real.