I couldn’t believe my eyes when reading the Washington Post and seeing that Republicans have finally understood what the problem is with the rich. It has never been about taxes because the bottom line is and everyone knows it, the Middle Class would be who suffers under larger taxes, because the rich use the federal government to write off their increased taxes. Warren Buffet is the proof in the pudding, he could pay himself a million dollars a year in salary and pay income taxes on that balance but alas he gives himself a shareholders interest and pays only 15% on that “salary”. I would say a majority of Americans have no idea how the “rich” or even those with small businesses pay themselves and how they have paid taxes on the business but don’t pay a larger “income tax” on their “salary”. So the Republicans have come up with with a brilliant plan to save the Country money and to make the rich pay more (though really, why would any rich person use medicare?). Hear, Hear Republicans, Finally, You Can Shove The Making The Rich Pay More Back In The Marxist Face Of Barack Obama
One person who agrees with that sentiment is Rep. Paul Ryan, the Republican chairman of the House Budget Committee — though not in the way Obama means it. Ryan wants the wealthy to give something back: the billions of dollars in government benefits, taxpayer subsidies and corporate welfare they receive each year and do not need. Instead of raising taxes, which would hurt growth and job creation, Ryan told me: “We want to stop subsidizing corporations. We want to stop subsidizing [wealthy] individuals. And you can get more money for savings to reduce the deficit without damaging the economy this way.”
Call it “soak the rich” economics, GOP-style.
What government spending on the wealthy would Ryan target? “Everything,” he says. He would start with entitlements. The two biggest and fastest-growing areas of federal spending are Social Security and Medicare, both of which provide the richest Americans with growing benefits. To help stabilize both programs, Ryan wants to scale back those benefits for the wealthy. On Social Security, he says, “you can get the bulk of your way to solvency without tax increases by indexing benefits so that they don’t grow as fast for wealthier people.” As for Medicare, his reform plan would provide wealthier seniors with lower subsidies, while “focusing the benefits on the people who need it and away from those who need it the least.”
Ryan is not alone in his call for means-testing entitlements. Means-testing has the strong support of House Speaker John Boehner, who earlier this year told Wall Street billionaire Pete Peterson at a forum in New York, “Pete, I love you to death, but I don’t think the taxpayers ought to be paying your Medicare premium.”
There is not an American alive who doesn’t realize that Social Security and Medicare is no longer a pension but is a ponzi scheme that can no longer be sustained as is. When started a majority of people died before they even achieved the benefit, now they live 20+ years or more, it cannot continue on. I believe and have believed for some time that a means test for the rich for both federal government programs were necessary. I plan to retire on my investments, I don’t want to be chained to the federal government but nor do I think that I should continue to pay for a lie either, nor should my children however we will be forced to. In that we are forced to, I hardly think Bill Gates or Warren Buffet should get a check from the federal government for their retirement, that is insanity.
Barack Obama finally put the lie to rest by threatening to withhold checks from retirees in August of 2011. He told us what we had always known, that they hadn’t kept the money in some fake lock box and that other then the income coming from FICA (which is not enough) that the balance comes from the general fund and that amount will only grow. The taking away from the rich of write-offs or exemptions is long past due, it only benefits the wealthiest of companies and it picks winners and losers, which is why I have always supported a Flat or Fair tax, to end those subsidies for corporations. Warren Buffet nor General Electrics CEO would want that done, because of course they benefits handsomely from such give-a-ways from the federal government. So lets get this debate on about soaking the rich, because the socialists are going to lose in the end.