<p>Too many young adults find themselves educated but deeply in debt and with no foreseeable prospects of things turning around. There is a prevailing gloom in our country shared not only by the young. I think it likely we will see more of this.</p>
<p>Seems like a comprehensive tax overhaul would be the solution. Simplify, ensure our sleazy politicians aren’t writing the tax code to benefit their targeted constituencies and donors. Make all cap gains and unearned income the same. Making it simpler and more transparent with less breaks (but a lower overall rate) would make it tougher for people to cheat on their taxes. It’s already tough for someone getting income from a job where they report your wages to finagle and minimize their taxes, alot easier for people who self report their income.</p>
<p>But for all the whining about the top 1% making too much money, there’s a big difference between making $380K and 380million. Especially if you’re not like dstark, getting it in low tax cap gains, but actually paying the full bill.</p>
<p>15% capital gains for billionaires is far too low, but for people who aren’t rich, that sounds about right. What about a progressive capital gains tax based on income from capital gains?</p>
<p>"Taxing capital gains and unearned income at zero…who benefits? Really? Who benefits?
Cutting the top income tax rate? Who benefits?</p>
<p>Getting rid of the mortgage deduction. Who loses?
Getting rid of tax free health care benefits. who loses?</p>
<p>Getting rid of the mortgage tax Deduction, getting rid of tax free health care benefits and then cutting the top income tax rate…who wins and loses? </p>
<p>“Cutting SS and medicare? Who loses?
It is not that hard to figure things out.”</p>
<p>It is for me! Can you just tell me? And if you could just include some definitions of who “who” is, that would really help. I sort of know what a “billionaire” is, but otherwise (“millionaire”,“pigs”, “rich”, those who pay “no taxes”) not sure.</p>
<p>Well busdriver11…I don’t think too many people who make 380,000 pay the full bill…</p>
<p>There are plenty of deductions. Probably some you take that I don’t. :)</p>
<p>Caltanner…that was what known socialist Warren Buffett proposed…a higher cap gains tax for those that make over 1 million. Not too many people would be affected.</p>
<p>And people freaked out.</p>
<p>Well shrinkrap…although individuals may vary…the lower, middle and some upper middle class lose…</p>
<p>Because they get the benefits or deductions that are proposed to be cut.
They are going to end up with less.</p>
<p>The upper class wins…(some upper middle class also wins). Because their tax rates are cut and their after tax income increases under the proposals.
They are going to end up with more…So much for the pain.</p>
<p>In the ongoing effort to pit the common citizens against one another, I hear a lot of talk about “greedy seniors” (like greedy teachers, greedy unions, greedy poor people, greedy public employees, etc.). Well, maybe Dick Cheney is doing ok, but your average granny is not:</p>
<p>[Health</a> Beat: Medicare and the President?s Deficit Reduction Plan: Shifting Costs to Seniors](<a href=“http://www.healthbeatblog.com/2011/09/medicare-and-the-presidents-deficit-reduction-plan-shifting-costs-to-seniors-.html]Health”>http://www.healthbeatblog.com/2011/09/medicare-and-the-presidents-deficit-reduction-plan-shifting-costs-to-seniors-.html)</p>
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<p>How many of you spewing fantasies about the lack of media coverage actually live in New York? I do and I can tell you there has been a huge amount of coverage of these entitled brats. It’s such a shame Giuliani is no longer mayor.</p>
<p>^^ Why? Because Giuliani would have denied them their constitutionally-protected rights to speech and peacable assembly?</p>
<p>My son is not an entitled brat. What a thing to say!</p>
<p>“My son has been out on the streets on this issue. My understanding is that it is more about the stranglehold corporations have had on this country for most of our history. Abraham Lincoln was very worried about this after the Civil War. So was DD Eisenhower post WWII. Eisenhower went for big taxes on the wealthy and I think it did have positive results. GI benefits meant people could go to college and buy houses. They became taxpayers. My H and I are very willing to pay higher taxes. Class warfare?! Some people don’t have enough money to feed their kids. Some elderly citizens can’t afford the bare basics of life. We bail out the banks and they stop giving loans. We bail out AIG and they keep giving huge bonuses and lavish parties. We can’t afford to let our seniors, our kids, our low income citizens and our middle class fall to ruin like this.”</p>
<p>Bethievt…I am glad to read that your son is out there…</p>
<p>That’s how change occurs.</p>
<p>Michael Moore for President!!! Seriously,does anyone think for one single minute protesting on Wall Street will amount to anything??? And for every protestor who is there for their beliefs,there are 2 there for the confrontation…</p>
<p>It’s a start…</p>
<p>Dstark, i agree that there are many who need…i volunteer at a food pantry,and many families are destitute and need help…but there are more then you can imagine who walkinto the pantry while talking on their IPhones,in designer clothing…priorities people…</p>
<p>The problem with many in the middle class is they aspire to a higher lifestyle then their incomes allow…I am amazed how many people i know that qualify as middle class have cleaning help, landscapers etc…in the 60’s and 70’s that didn’t go on,at least in my lower middle class neighborhood</p>
<p>I’m sure posts 154 and 155 are true.</p>
<p>So what do you want to do?</p>
<p>Lots of respect for the young fellas.</p>
<p>As a nation we are in a very bad spot…I am of the opinion there is very little we can do to turn the tide…We’ve become so efficient at EVERYTHING that thinking we can create jobs to lower unemployment is a pipe dream…The days of 5% unemployment rates are long gone, the new norm,imho, will be 7%…</p>
<p>I am middle class and I pay to get my lawn cut. I am charged $35 for over an acre. I hired the company after my lawn mower died. By the time I would have purchased a new mower, paid for the yearly tune up and blade sharpening plus the cost of gas etc it seemed like a smart move.</p>
<p>This thread was the first I’d heard of this.</p>