By EyeOnModesto Staff
I would like to encourage everyone to support the “Occupy Wall Street” protestors. They are fighting for us, the middle and lower class Americans who live from paycheck to paycheck.
99% of this nations’ wealth is controlled by 1% of its citizens. Those very wealthy Americans and corporations can afford to make million dollar donations to political campaigns, expecting and receiving in return, continued tax breaks, while the rest of us pay a higher and higher percentage of our income in taxes.
Warren Buffett has publicly said that the super wealthy can and should pay more taxes. Following is a quote from an interview he did with the New York Times:
“Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent.
Doesn’t it seem unreasonable that someone who makes $50,000 a year pays a higher percentage of income tax than someone who makes millions? Mr. Buffett’s secretary actually paid a higher tax rate than he did.
Many of us struggle with minimum wage jobs that provide absolutely no benefits. No health insurance. No sick time. No vacation time. No retirement plan. It’s not that we are unskilled, there just aren’t any jobs available that pay a living wage and offer benefits. The idea that giving tax breaks to the very wealthy will create jobs has been proven wrong. President Bush gave those tax breaks to his wealthy friends and they did not create jobs.
And now there is a new problem for the unemployed. Many potential employers have taken the stance that if an applicant has been unemployed for six months or more, they are considered “unemployable”. If you have 30 years of experience, and the company you work for closes, do you believe you’ve lost the skills you developed over a lifetime in just six months? Regardless of what you may think of President Obama’s jobs bill, a portion of it stated that “an employer cannot disregard an applicant due to his/her current unemployment status”. Who needs a job more than an unemployed person?
Who needs tax breaks more, someone earning $20,000 or someone earning $250,000?
Our political leaders need to stop coddling the super wealthy. They need to listen to the Wall Street protestors. They need to listen to us.