Imagine my astonishment today when I found out precisely who the politicians mean when they say we need to tax the rich. I have always wondered precisely who these rich people are they need to be more heavily taxed. Well I nearly fainted when I found out that virtually everyone I know is “rich” in the eyes of the government. It seems the Federal Reserve Board is very diligent in tracking the financial wealth of Americans – apparently excluding all of the illegal immigrants. According to the Federal Government 40% of Americans are poverty stricken (family income of $25,000) with another 30% falling into the middle class with a median family income of $65,000. What is astonishing is that the remaining 20% are “rich” with the top 10% showing a family median income of $170,000. This means a husband and wife each earning $85,000 are rich, which I’m sure would come as a total shock to them. Looking at this from another perspective if you take average salaries a husband and wife team of a teacher and a policeman their combined incomes would place them in the top 75% or upper middleclass. In fact any family whose median income is in six figures, they are in the top income bracket targeted by the politicians who are always trolling for votes on the basis that the “rich need to pay their fair share”.
Income Level Percentile Median Family Income
Rich 90% - 100% $170,000
Upper Middle Class 80% -- 89.9% $99,000
Middle Class 60% -- 79.9% $65,000
Lower Middle Class 40% -- 59.9% $40,000
Poverty 20% -- 39.9% $24,000
Level II Poverty Less than 20% $10,000
So after looking at these numbers it is easy to see why the politicians are so vague about precisely whom they mean when they are on their annual electoral crusade to “tax the rich”.
But as we all know what you bring in goes out pretty much as fast as it comes in and the real test is how much can you keep after the government takes as much as they can because after all the rich should pay more because they make more – I think this is the precise position of the American Democratic Party and the Socialist Parties of various European countries. So does making over $100,000 a year make you rich? The reality is that very few people in these upper income levels feel rich or even consider themselves rich.
Of course income really doesn’t mean much in defining where you stand overall. The better measure would be net worth, that is the total sum of a family’s assets minus all outstanding liabilities. When viewed from this perspective it seems that the national median net worth of the average American Family is $86,000 and this includes all assets like home equity, jewelry, savings, autos, collections, furnishings, etc.
Income Level Percentile Median Family Income
Rich 90% - 100% $833,000
Upper Middle Class 80% -- 89.9% $263,000
Middle Class 60% -- 79.9% $141,500
Lower Middle Class 40% -- 59.9% $62,500
Poverty 20% -- 39.9% $37,200
Level II Poverty Less than 20% $7900
At first glance it would appear that the top 10% (approximately 30 million people) have more substantially more money than the remaining 70% of the population. But included in that top ten percent are Bill Gates, Donald Trump, Warren Buffet, all of those professional athletes, and most assuredly all of those actors in Hollywood who command multi-million dollar salaries while crusading for the poor and demanding that the rich should pay their fair share. Of course at these multi-million dollar income levels, taxes are for the “little people” because batteries of accountants and lawyers insure that little to no tax is paid. These tax loopholes are carefully protected by judicious political contributions (to both parties) while the recipients beat the drum for higher taxes on the rich.
If you would believe what you see on television there is a whole segment of society living the high life in retirement communities. You see them every night as they dance the night away on their Caribbean vacations, where they jog, they fish, they bike, and in general live a great life in retirement because they are rich. Well I think if you would talk to most seniors you would quickly discover that few – very few – can live like these advertisements. In fact even those people in these median income brackets can not afford to live lavishly. Suppose the entire income tax structure were abolished and instead a flat tax was installed with no deductions whatsoever. Everyone and all businesses would simply pay a flat tax on their gross incomes. Do you think the people in the very top brackets, those who support the various politicians would ever allow this to happen? Can you imagine a George Soros, or George Clooney, or MicorSoft paying a flat percentage of their gross incomes to the government? Not a chance! These people want to tax the rich – not themselves. It is important that all of us rich people keep this in perspective when we go to vote for those candidates who think the rich should pay their fair share – that my friend is YOU and you clearly aren’t paying your way. Think about that!!
Showing posts with label Soros. Show all posts
Showing posts with label Soros. Show all posts
Sunday, November 04, 2007
Saturday, October 06, 2007
Death of the Democratic Party
The strength of the United States was founded upon or certainly has been maintained by the two party system. True, there have been attempts to establish third parties, the Bull Moose Party and the Dixiecrats come to mind, but these have never been successful and the country has continued to be steered by first one party and then the other, but always by a Republican or Democrat. This situation has moved the country first left and then right and then back again. Certainly at various times both parties have been plagued with failures, corruption, and scandal just as each has been distinguished by courage, principles, and success. But the dignity, honor, and strength that has characterized both parties seems to be waning, but more so with the Democratic Party which seems to have become impotent as its members are driven further and further left.
The Democratic Party began moving left with the election of Franklin Roosevelt and Harry Truman, but this shift was really barely perceptible and typical of the way the parties had balanced each other because prior to the election of FDR the country had been very conservative and that conservatism – rightfully or wrongfully – was held accountable for the disastrous Great Depression. But the real inflection point came with the appointment of Earl Warren as Chief Justice, an appointment made by the Republican President – Dwight Eisenhower. It was the Warren Court that started the judicial system down the pathway of judicial activism that continues to this day and it was the rulings of this court than began the dramatic shift to the left. Subsequent Republican Presidents have been able to slow this drift but they have not been able to stem the tide toward socialism and left wing activism.
The rule of the majority, the founding principle of the country, has been replaced through judicial activism by the rule of the minority. The Constitution and the Bill of Rights has been stretched by first one judge and then another to include the “right to not be offended” The Freedom of Religion has been distorted to guarantee the right of all minorities to practice their religion (?) while slowly curtailing the right of the Christian majority to practice theirs. The right to not be offended is trampling the Freedom Speech except when that Freedom of Speech is immoral, obscene, anti-American, or anti-Christian. As bad as these things are they still fall within the realm of “correctible”. The real threat to the country comes from the waning power and influence of the Democratic Party and the growing strength of the “progressives” which is the code word for socialists which in turn is code for Marxists.
This dramatic shift to the extreme left began with the founding of Moveon.Org by George Soros, a Hungarian by birth and political activist who claims (with some justification) to have been instrumental in bringing down the communist party in Poland and the governments of Georgia and Czechoslovakia. He has now embarked on a campaign to bring down the government of the United States and to replace it with one more to his liking, which is one where he is the power behind the throne. Clearly he is seeking a role – on a global scale – of Cardinals Richelieu and Mazarin. In effect, Soros is using his vast wealth to fund various organizations that support various politicians, who if elected, will be beholden to and controlled by him. This bevy of politicians under the sway of Soros includes, Clinton, Roberts, Gore, and Obama. The election of anyone of these would give Soros the power he seeks and the ability to redirect the government and the foreign policy of the United States. As a naturalized citizen he cannot be President but as one of the richest men in the world, he clearly intends to be the shadow president.
The Democratic Party abandoned Joe Lieberman because he supported the foreign policy of the government, he viewed Islam as a great threat and the War on Terror as real. Now we see Moveon.Org attacking General Petraeus without any condemnation from the leading candidates, who either dodge the issue or soft pedal it but do not condemn it. Now we see the same organization plus many of the front organizations supported by Hillary Clinton (who is supported by Soros) attempting to shut down talk radio and censor Rush Limbaugh. This blatant attack on free speech is not condemned by Moveon.Org or any of the Presidential candidates, instead they are again either silent or softly supporting the Moveon.Org positions.
The real issue here is the absolute silence from the “official” Democratic Party. Howard Dean – the Chairman of the Democratic Party appears to have been transported to some distant planet because he has not uttered any word about anything in months. In fact the Democratic Party appears to have disappeared entirely and has been replaced by Moveon.Org. The policies of the left are not being formulated and articulated by the Democratic Party, they are being formulated by George Soros and articulated by his mouthpieces – Clinton, Roberts, and Obama. The real Democrats like Dodd, Biden, and even Kennedy are silent while the extremists like Reid, Pelosi, and Murtha spend all of their time attacking the current administration rather than trying to run the country. All of this is signals a decline in the power and influence of the national Democratic Party and this represents a threat to the entire country. Remember, Soros has the objective of overthrowing the government and he intends to install himself as the power behind the President. Unfortunately I think Obama, Roberts, and Clinton think they can control Soros, just like the German politicians thought they could control Hitler.
The Democratic Party began moving left with the election of Franklin Roosevelt and Harry Truman, but this shift was really barely perceptible and typical of the way the parties had balanced each other because prior to the election of FDR the country had been very conservative and that conservatism – rightfully or wrongfully – was held accountable for the disastrous Great Depression. But the real inflection point came with the appointment of Earl Warren as Chief Justice, an appointment made by the Republican President – Dwight Eisenhower. It was the Warren Court that started the judicial system down the pathway of judicial activism that continues to this day and it was the rulings of this court than began the dramatic shift to the left. Subsequent Republican Presidents have been able to slow this drift but they have not been able to stem the tide toward socialism and left wing activism.
The rule of the majority, the founding principle of the country, has been replaced through judicial activism by the rule of the minority. The Constitution and the Bill of Rights has been stretched by first one judge and then another to include the “right to not be offended” The Freedom of Religion has been distorted to guarantee the right of all minorities to practice their religion (?) while slowly curtailing the right of the Christian majority to practice theirs. The right to not be offended is trampling the Freedom Speech except when that Freedom of Speech is immoral, obscene, anti-American, or anti-Christian. As bad as these things are they still fall within the realm of “correctible”. The real threat to the country comes from the waning power and influence of the Democratic Party and the growing strength of the “progressives” which is the code word for socialists which in turn is code for Marxists.
This dramatic shift to the extreme left began with the founding of Moveon.Org by George Soros, a Hungarian by birth and political activist who claims (with some justification) to have been instrumental in bringing down the communist party in Poland and the governments of Georgia and Czechoslovakia. He has now embarked on a campaign to bring down the government of the United States and to replace it with one more to his liking, which is one where he is the power behind the throne. Clearly he is seeking a role – on a global scale – of Cardinals Richelieu and Mazarin. In effect, Soros is using his vast wealth to fund various organizations that support various politicians, who if elected, will be beholden to and controlled by him. This bevy of politicians under the sway of Soros includes, Clinton, Roberts, Gore, and Obama. The election of anyone of these would give Soros the power he seeks and the ability to redirect the government and the foreign policy of the United States. As a naturalized citizen he cannot be President but as one of the richest men in the world, he clearly intends to be the shadow president.
The Democratic Party abandoned Joe Lieberman because he supported the foreign policy of the government, he viewed Islam as a great threat and the War on Terror as real. Now we see Moveon.Org attacking General Petraeus without any condemnation from the leading candidates, who either dodge the issue or soft pedal it but do not condemn it. Now we see the same organization plus many of the front organizations supported by Hillary Clinton (who is supported by Soros) attempting to shut down talk radio and censor Rush Limbaugh. This blatant attack on free speech is not condemned by Moveon.Org or any of the Presidential candidates, instead they are again either silent or softly supporting the Moveon.Org positions.
The real issue here is the absolute silence from the “official” Democratic Party. Howard Dean – the Chairman of the Democratic Party appears to have been transported to some distant planet because he has not uttered any word about anything in months. In fact the Democratic Party appears to have disappeared entirely and has been replaced by Moveon.Org. The policies of the left are not being formulated and articulated by the Democratic Party, they are being formulated by George Soros and articulated by his mouthpieces – Clinton, Roberts, and Obama. The real Democrats like Dodd, Biden, and even Kennedy are silent while the extremists like Reid, Pelosi, and Murtha spend all of their time attacking the current administration rather than trying to run the country. All of this is signals a decline in the power and influence of the national Democratic Party and this represents a threat to the entire country. Remember, Soros has the objective of overthrowing the government and he intends to install himself as the power behind the President. Unfortunately I think Obama, Roberts, and Clinton think they can control Soros, just like the German politicians thought they could control Hitler.
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