Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Romney-Ryan Will Cost Middle Class. Young And Old Will Transfer Wealth And Income To The Rich

Posted by   + Show Post

image

The Romney-Ryan budget is not very full of specifics. I have read the entire document and all the pretty words break down to one statement. Ensure the wealthy pays a much smaller percentage of their income in taxes than the middle class. The implication is that the wealthy are our job creators, a tenet that was summarily dismissed by entrepreneur and millionaire Nick Hanauer. The middle class with our purchase of products and services from companies owned by the wealthy and not so wealthy are in fact the job creators.

Most of the wealthy’s income come from investments. That income is called capital gains. It is income that is accumulated when one is sleeping, taking a shower, sipping tea at the pool, or simply doing nothing. It is passive income. That income is taxed at a lower rate than the income of the person that wakes up every morning and goes to work. Moreover there are no social security taxes on that income.

Many on the Right have misleadingly putting out statements that only 52 percent or so of Americans pay taxes giving the impression that 48 percent of Americans are just free loaders. The fact is that all middle class employees pay at least 7.5% in Social Security and Medicare taxes while those earning income solely from capital gains and certain financial instrument pay none. Everyone pays gasoline taxes and a myriad of other taxes that as a percentage of their income is larger than most millionaires. It is important that we do not allow a misleading narrative to pit half of the middle class against the other half and the poor.

The tax system is designed to ensure that the wealthy not only pays little taxes but mathematically it ensures an ever increasing income/wealth disparity. While it is great for the ego of the wealthy being, it is a detriment to society since as wealth /income is concentrated in the hands of a few an economy suffers as the poor and middle class are “pilfered out” of the economy.

The analysis of the effect of the Romney-Ryan Medicare plan below is just one aspect of what the Romney-Ryan budget has in store. Read it in detail. More importantly read Ryan’s Path To Prosperity. It should be renamed “The Path of Expanded Prosperity of the Wealthy by the Systematic Pilfering of the Middle Class”.

You must be an informed voter. The mainstream media continues to fail us. They continue to focus on issues that have little material effect on the average American or they simply allow political narratives to mislead us.

LIKE My Facebook Page 


Romney-Ryan Medicare Plan Would Cost 29-Year-Olds $331,200: Report

The Huffington Post  |  By Bonnie Kavoussi Posted: 08/27/2012 12:58 pm Updated: 08/27/2012 9:03 pm

Mitt Romney and Paul Ryan’s health care plan would raise Americans’ health care costs during retirement, according to an analysis by the Center for American Progress.

If Mitt Romney and Paul Ryan have their way, then Americans of all ages may be spending more on health care during their retirement.

If Romney becomes president and repeals the Affordable Care Act as promised, then retirement would cost $11,100 more for the average 65-year-old and $18,600 more for the average 55-year-old because of higher Medicare premiums and drug costs, according to a report from Harvard economist David Cutler, an Obamacare architect, and the Center for American Progress.

What’s more, seniors on Medicare who depend on Medicaid would need to pay more than $2,500 more per year because of planned Medicaid cuts.

Romney’s plan would cost younger Americans even more, since Romney and Ryan want to turn Medicare into a voucher system for Americans under 55 for when they qualify for Medicare. The report estimates that 48-year-olds would have to pay $124,600 more for Medicare during retirement under Romney’s plan, 39-year-olds would have to pay $216,600 more during retirement, and 29-year-olds would have to pay $331,200 more during retirement in total. That’s because the vouchers would not keep up with rising health care costs. For those 29-year-olds, the extra costs would consume 62 percent of their lifetime Social Security benefits.

CONTINUED

Romney-Ryan Medicare Plan Would Cost 29-Year-Olds $331,200: Report#slide=1376013

by on Aug. 29, 2012 at 12:26 PM
Replies (11-20):
pvtjokerus
by Gold Member on Aug. 29, 2012 at 11:33 PM
2 moms liked this

Sorry Kissy, your stuff is normally full of bunk.  Obama has lied over and over.  And Romney/Paul know we need to stop spending, about planning for the future for Medicare/healthcare and integrity.  Something that Obama has shown us over the past 3 1/2 years that 1) he has not clue  2) he does not have what it takes to save America.

Quoting _Kissy_:

I don't see anyone debunking it..


Sisteract
by Socialist Hippie on Aug. 30, 2012 at 12:17 AM

We have a jobs deficict in this country.

I do not see jobs being a priority for Romney- profits, yes.

Jobs/labor generally cut into the bottom line.

We are in a global economy which is in crisis.

Ryan's plan does nothing to address a global problem.

Cutting spending is not a complete answer to what ails the planet.

duets
by Bronze Member on Aug. 30, 2012 at 12:43 AM

My pocket book can't take any more taxes!!! I too, am voting "for the other guy" ...whoever that may be. Sooooo, Romney is not my guy & the one on currently on deck has failed to deliver, imho.


Quoting Sisteract:

Depends on your economic position. Are you in the top 0.4% (> 5mil/yr)?

If so, Romney is definitely your man.

I am NOT in that group.

I'm going third party.

WHY? Obama has proven to be too Bushlike for me. Romney is in bed with Corp America-

Quoting pvtjokerus:

Why would I vote for someone that has screwed America and myself like Obama has and will continue to do if re-elected?  Sorry, Obama had 4 years to prove himself.  He does not have the tools, the knowledge or the people around him to fix what needs fixin' in this country.  Romney and Paul "know" economics.  Obama knows how to talk like he knows economics.  Big difference.

Quoting Sisteract:

Agree. Liars- the dinero has to come from somewhere and someone-

Quoting NWP:

Yep. If anyone thinks these guys have the middle class interests at heart, then they are totally snowed.


 



Carpy
by Platinum Member on Aug. 30, 2012 at 6:37 AM

http://cbo.gov/sites/default/files/cbofiles/ftpdocs/121xx/doc12128/04-05-ryan_letter.pdf

vonna610
by on Aug. 30, 2012 at 7:19 AM

WHAT  some need to understand is that mitt/Ryan want to give people a 1 yr coupon, and if you use up all the money on there before the year ends then you will be stuck to pay out off pocket.

matreshka
by Gold Member on Aug. 30, 2012 at 7:19 AM

Thnaks for the proof debunking the tax info for lower and midddle income workers.

quasi1980sensho
by on Aug. 30, 2012 at 7:21 AM
bump


Carpy
by Platinum Member on Aug. 30, 2012 at 7:21 AM
2 moms liked this

What is to debunk?  It is just speculation, as the CBO report ADMITTEDLY is.  It would take alot of talking and hammering issues out before anything could actually reach a legislative process, as his plan is just a blueprint.

The Congressional Budget Office (CBO) has conducted a long-term analysis of a budget proposal by Chairman Ryan to substantially change federal payments under the Medicare and Medicaid programs, eliminate the subsidies to be provided through new insurance exchanges under last year's major health care legislation, leave Social Security as it would be under current law, and set paths for all other federal spending (excluding interest) and federal tax revenues at specified growth rates or percentages of gross domestic product (GDP). The results of that analysis are summarized in this document.

CBO has not reviewed legislative language for the proposal, so this analysis does not represent a cost estimate for legislation that might implement the proposal. Rather, it is an assessment of the broad, long-term budgetary impacts of the proposal, with results spanning several decades and measured as a share of GDP. It is therefore quite different from a cost estimate for legislation, which would require much more detailed analysis, focus on the first 10 years, and be based on more recent baseline projections. (CBO's most recent long-term projections, which are the basis for this analysis, were issued in June 2010 and were derived from the agency's March 2010 baseline projections.)


Quoting _Kissy_:

I don't see anyone debunking it..


pvtjokerus
by Gold Member on Aug. 30, 2012 at 11:21 AM

I have been watching both Romney and Paul talk about jobs and making more jobs for the past 3 weeks.  You have to remember, Paul is not running for president.  Therefore his plan is not the "say all plan" especially at this point.  

The global economy is coming to a crisis but so far the Obama Admini has been giving our tax dollars to companies that are linked to the buddies of O and his admini and not really towards the best companies out there. So, how much of this Merry-Go-Round are going to continue to ride on?  Not me, I am getting off...... 

Quoting Sisteract:

We have a jobs deficict in this country.

I do not see jobs being a priority for Romney- profits, yes.

Jobs/labor generally cut into the bottom line.

We are in a global economy which is in crisis.

Ryan's plan does nothing to address a global problem.

Cutting spending is not a complete answer to what ails the planet.


Peanutx3
by Silver Member on Aug. 30, 2012 at 11:25 AM

I personally believe the whether Obama or Romney wins those of us in the middle class are screwed.

Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)