RE: Trickle Down Has Finally Trickled Up
Posted: 10/20/2008 9:57:57 AM
By: Comfortably Anonymous
Times Read: 1,308
0 Dislikes: 0
Topic: News: Politics
Parent Message

The Republicans are scared that if the Democrats win there will be a redistribution of wealth to that I say,the hell with them. Since Reagan came into office, the Republicans redistributed the wealth upward to the richest in our country. The highest income tax brackets were reduced as well as capital gains taxes. Although they did reduce the taxes modestly at the lower end, they don’t tell you that they offset those tax reductions by increasing social security taxes to create a illusionary social security retirement surplus account. Illusionary because there is no fund, no benefits being held, only a simple accounting notation. These Social Security excess taxes are a huge source of income for the government and a debt that must be paid from further taxes upon us.

Republicans promised to balance the budget to offset the effect of lower taxes by reducing government. What a farce. Every republican administration since and including Reagan created huge deficits, especially the reckless Bush administration. These deficits increase the debt of our Country. Simply put, they have been on a borrowing binge. We borrow to pay interest on the money we borrowed.

I would give the Republicans some credit for honesty in stating that reducing taxes on the rich would enable them to invest more; and the rest of us would get the benefit of "a little trickle down". Unbelievable, but yes; they were able to sell the majority in our Country on their plan “piss” on us - and that they did. While the income of our Country grew and gushed upwards, CEOs and Presidents of Corporations pocket ten to five hundred million dollar income packages and reduce salaries, terminate employees, and move jobs overseas. Its hard to have a trickle when you piss into the wind.

Not satisfied with reducing our incomes, the Republicans removed regulations and allowed banks to mine our wealth. The poor face predatory pay day loans and exorbitant check cashing fees; the middle class was hit with usury interest rates, punitive credit card fees, and adjustable rate second mortgages that so many found necessary to maintain a standard of living. They are even mining the future of our youth with college debt; compare that to other developed countries. The ultimate mining is privatization of public assets paid for by our taxes so the rich have some place to invest the immense wealth we have given them.

We put the Republicans in control of our destiny and through their greed they have failed us. They have left very little fuel in the tank to run the engine of our economy. If we don’t redistribute, we are doomed.

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