Two of the Republican candidates, Rick Perry and Herman Cain have put forth their proposal to change our tax system. They are proposing a “flat tax” as the solution to our economic problems. It amazes me to think that there are probably people who think that these proposals are good ideas. After all, it isn’t the “1%” who will get those people into office. There aren’t enough of them. It is their enablers, people in the lower and middle economic classes who aren’t paying attention, or simply like the idea of a more simplified tax system. Or, who are just plain ignorant! Well, Perry and Cain, will certainly simplify the system. Let’s take a look at Cain’s famous 9-9-9 proposal.
These numbers are relative to the numbers of the current tax policy. Here goes: If you are in the bottom 20% in income, your liability will go up under the Cain 9-9-9 proposal by $1854. If you are in the second 20% your liability will go up by $3895. The middle 20% will go up by $4330, and the fourth 20% will go up by $4229.
OK, it is not all bad news – particularly if you are wealthy. If you were in the top 20% of all earners your liability will go down by $14,422. If you were in the top 1% your liability will go down by $238,442. So, the solution for you is simple — just earn more money!
Rick Perry’s is similarly weighted. I won’t put the numbers down but you can find them in The Atlantic Magazine (Current Issue). This is absolutely sick. We have a huge economic imbalance in the US today and two of the Republican front runners want to make it worse. Worse yet is the fact that there are so many people who are turning out for these political rallies and will undoubtedly vote for these people. This is really nutty!
This country has a lot of very decent people who go to work every day to make an honest living, but are seeing that, as the years progress are getting nowhere economically. Yet they are willing to believe that a flat tax or some other simple panacea proposed by people like Perry or Cain is the solution to all their problems. Far from it, taking away health care, raising taxes on the middle class, cutting red tape (which seems to be Rick Perry’s code for getting rid of pollution controls) is not the solution. The solution is to have our representatives represent us!
The American Revolution of 1776 was started with the battle cry, “No taxation without representation”. What is going on now? Lets look closely — we are being taxed, and we are not being represented. Our representatives seem to be representing large corporations and Wall Street. They represent the super wealthy. They represent Bank of America — who, by the way, paid no taxes last year. Wouldn’t it be nice if your representative represented you? Maybe you would get to pay no taxes, too!
It is easy to understand why your representatives do not represent you, but rather, represent the super rich. The super rich (people and corporations) are the ones who give the campaign donations.
Maybe serious campaign finance reform is all we need. Do our representatives have the spine to do it? Or has greed overtaken them, too?