Save The American Middle Class
58Save the Middle Class
Middle Class America has been kicked around for most of my life, I'm 59. Any time more money is needed for Government programs it comes from the Middle Class. Most of the taxes paid and collected come from us.
Give back the tax breaks taken away. In the 70's we could take a deduction on income taxes for any Intrest paid to anybody. Intrest on car payments, credit cards, charge accouants, anything interest was paid on could be taken as a tax deduction. By doing away with these deductions we all had to pay higher taxes, because our taxable income was higher. The Rich paid cash for everthing and the (Welfare, people working the system) could'nt get credit. Only the Middle class was affected.
Most of American could care less what the stock market is doing, it does'nt have a direct effect on our lives today, maybe next month or next year but not today. What affects us on a daily basis is the price at the gas pump. When the price is down we have more money to spend, when it's up we have less. The best stimulus package we got this year was the price of gas dropping to $2.19. That will put more money back in America's pocket in a year than the last or next stimulus package .
Give back tax deductions for all credit interest. What effect do you think that would have on GM, Ford and other car makers.Gm and and Ford need all the help they can get and employed mostly Middle Class America.
Give us cheaper Health Care or just give us the same coverage our elected officials,Medicare and Medicaid
If the economy is going to improve the Middle Class is going to have make it happen, put the money back in our pockets that has been take away so the Rich did'nt have to pay higher taxes and the Poor did'nt have to work.
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Comments
Sorry to rain on your parade but your facts are fiction. Take a look at the following info about who actually pays the taxes. http://www.ntu.org/main/page.php?PageID=6
Heres' the way i look at those figures.
Top 1% 39.89Top 50% 97.01
Take the Top 1% off that still leaves the other 49% paying 57.12% of the taxes.
Then you also have a whole lot of people getting earned income back, which yes the Top 25% do not get.
Sen. Barbara Mikulski, D-Md. has made a proposal to allow buyers to write off intrest on a new vehicle loan.
Thats a start.
I'd like to see interest on auto loans and unsecured debt be allowed as deductions again. It would help a lot of people and get some money moving around again, but I'm not holding my breath. Thank you for writing this hub. (o:
We should get back to the place in time when we didn't think about borrowing anything. My grandfather never borrowed money to buy a car. To build his house, or to send his kids to school. My grandmother worked later in life not because she had to but, because she was bored when her children left. She opened her own beauty salon.
My grandfather was not an executive nor wealthy, he was a poor farmer from Oklahoma who became an aircraft mechanic and worked for Boeing. We have gotten so far from those days. When our jobs payed us enough to support a quality lifestyle without credit.
TMG
My father in-law was and is like that. He never finance anything. When worked overtime all the extra went into the credit union. If he got a raise the extra also went into the credit union. Over 50 years quite alot of money was aquire doing so. He came up the old way, wish I had. I've made and spent alot of money over the last 45 years with very little cash to show for it. I did put 2 children thru college,own a home, 2 cars,motorcyle and a business. Guess I should not complain. This economy has been real hard on my business .
It will get better.
Here I go again. I was for the bailout of the big 3 Car Companies. GM, Ford and Chrylser. They flew to Washington on private Jets, Why did'nt they Jet pool , or even cheaper than that buy a Commercial ticket like the people there are trying to get 25 Billion + from (the tax payers).
When the CEO's were asked if they would give up part of their pay, or all of their pay like Lee Iacocca did in 1979.
CEO's answer were . Chrysler CEO said yes he would take $1.00 a year, the other two CEO's just beat around the bush about they had already given up bonuses. Why should they be getting a damn bonus for losing billions. They can't cut their 20 million plus salaries to save their companies. I don't wont to give them money if they can't give up some more. Performance should be given for positive production not negative production.
Chrylser CEO is the only one willing to give. Bail out Chrylser, Fire GM and Ford CEO.
Larry King show stated each private Jet was worth about 30 to 35 million each cost $20,000 each round trip. Still wasting money.
They just don't understand or care what the rest of the country thinks.
Just rub our nose in it.
What we need is something positive in the news, not all this negative bull. The sooner we see something good , or think good things are coming will we begin to recover. I went thru the 70’s, 80’s 90’s. The big difference to today is all the negative info we get from the media, the sky is falling in. My income has dropped 40% , but things are looking better.
Think positive.
oopsj says:
14 months ago
Citi Group has agreed to halt foreclosers for homeowners still living in their homes and have enough income to make lower payments. If the home owner is willing to work with the bank they are willing to work something out for them.
Citi Group appears to be on the right track. A little bit of something is better than a whole lot of nothing. Some money coming in is better than none.
Thats what I call working with the Middle Class America.