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The other 99%

07 Oct

Income Inequality

Over the last fifty years the top 1% of income earners took in about 12% of all incomes in this country. Now, the top take it 24% of all the income in this country. While the rich have been getting bonuses and golden parachutes the working class has been getting pick slips. Unions can agree to higher wages, Tea partiers can agree to higher wages, Conservatives that work for a living can agree to higher wages. This is an issue that unites us all.

The fact is when a few people control the income in this country that means that someone else looses their money. Because, there is only a certain amount of money in out economy. (i.e. Last year our GDP was 14.5 T) Why can the rich pay more in taxes to help the rest of the country. Why cant prosperous corporation give up subsidies to their private jets to help an American get a job? Why can’t the 2% of wealthiest income earners be patriotic and demand Congress to rise their tax rates? Why can’t oil companies give up billion in government money to plug the whole in the federal deficit? Why can we take away health-care from homeless individuals, and the poor and take away voting rights but give 700 billion to Wall Street? How come 5 million American won’t be able to vote in the 2012 elections, but multi-national corporations can donate unlimited amounts to political campaigns, but individuals can’t? Because of greed and corruption.

File:Personal Income by Race.png

This isn’t a Republican or Democratic issue. The 99% are loosing. The top 10% of income earners in this country control over 92% percent of the wealth. Leaving the rest of us with only 7% control. These are the facts. Every American worker should be fighting for higher wages, a fairer tax system, health benefits, weekends off, paid vacation, and fairness. The Occupy Wall Street rallies are getting the message across; the American public is fed up with income inequality, corporations and the rich cheating on taxes, and the corruption on Wall Street and in government.

financial-wealth-united-states

Herman Cain’s tax plan is what is called the 9-9-9 Plan. The only clear thing people are getting out of it is that it includes a 9% flat tax on every income, a 9% national sales tax on everything that is bought in a store, and a 9% flat tax on businesses. One must understand that currently the tax system is set up in three brackets; 15, 25, and 35% tax brackets; we don’t have a national sales tax, and the corporate tax rate is 35% which businesses rarely even pay. I have no idea how much this tax system would bring in, but according the Center for Economic Policy and Research it would bring in about half the current revenue to the federal government. Also, the sales tax would be added to the already high state and local consumption taxes. In Massachusetts the state’s sale tax is 6.25%, and with Herman Cain’s tax reform plan now on everything I’d buy in a store I’d be paying 15.25%. This would decrease the amount that people would spend buying; don’t we need people buying products right now?

State General
Tax
Total With Max
Local Surtax
Groceries Prepared Food Prescription Drug Non-prescription Drug Clothing
Alabama 4% 10%          
Alaska 0.0% 7%          
Arizona 6.6% 10.6%          
Arkansas 6% 9.25% 1.5%+        
California 7.25% 9.75%          
Colorado 2.9% 8.0%          
Connecticut 6.0% 6.35%          
Delaware 0.0% 0.0%          
District of Columbia 6.0% 6.0%   10.0%      
Florida 6% 7.5%   9% (max)      
Georgia 4% 8%          
Hawaii 4% 4.712%          
Idaho 6% 6%          
Illinois 6.25% 11.5% 1%   1% 1%  
Indiana 7% 9%   9% (max)      
Iowa[34] 6% 7%          
Kansas 6.3% 8.65%          
Kentucky 6% 6%          
Louisiana 4% 9%          
Maine 5% 5%   7%      
Maryland 6% 6%          
Massachusetts 6.25% 6.25%   7% (max)     > $175
Michigan 6% 6%          
Minnesota 6.875% 7.775%   9.75% (max)      
Mississippi 7% 9%          
Missouri 4.225% 9.241% 1.225%        
Montana 0.0% 3%          
Nebraska 5.5% 7%   9.5%
(Omaha)
     
Nevada 6.85% 8.1%          
New Hampshire 0.0% 0.0%   9%      
New Jersey 7% 7%          
New Mexico 5.125% 8.5625%          
New York 4% 8.875%          
North Carolina 4.75% 7.25% 2% 9.25% (max)      
North Dakota 5% 5%          
Ohio[35] 5.5% 7.75%          
Oklahoma 4.5% 8.5%          
Oregon 0.0% 5%          
Pennsylvania 6% 8%          
Puerto Rico 5.5% 7%          
Rhode Island 7% 7%   8%      
South Carolina 6% 9%   10.5%      
South Dakota 4% 6%          
Tennessee 7% 9.75% 5.5%        
Texas 6.25% 8.25%          
Utah 5.95% 8.35% 4%        
Vermont 6% 7%   10%      
Virginia 5% 5% 2.5% 5%+      
Washington 6.5% 9.5%   10% (max)      
West Virginia 6% 6% 3%        
Wisconsin 5% 5.6%          
Wyoming 4% 7%          
Color Explanation
  Exempt from general sales tax
  Subject to general sales tax
7% Taxed at a higher rate than the general rate
3% Taxed at a lower rate than the general rate
3%+ Some locations tax more
3% (max) Some locations tax less
> $50 Taxed purchases over $50 (otherwise exempt)
  No state-wide general sales tax

 

 

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1 Comment

Posted by on October 7, 2011 in Fairness, Workers' Rights

 

One response to “The other 99%

  1. art rosenzweig

    October 8, 2011 at 3:33 am

    yes, and the congress that writes our tax laws calls our income “ordinary” income. “ordinary”? maybe we ought to burn any document that calls our income “ordinary”! the fat swine! and capital gains taxes are taxed at a flat 15%, when cashing in an ira can be taxed up to the max, 33%. but that’s because it’s only “ordinary” income! we need to class the word “ordinary” as a hate crime, worse than kike or nigger! i hate congress. sorry, andrew.

     

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