[quote=dumbrenter][quote=paramount]
IMO it’s largely because of people like flu that we in fact enjoy abundance.[/quote]
You mean people who flood the threads with political posts and tax rants are actually contributing to our abundance?[/quote]
What political post? Why do you think this is about politics. This has nothing to do with politics…It has everything to do with fiscal policy. Same crap if it came out of the GOP ass for all I care.
Have you stopped and think about this…
For the past decade middle class americans had a lot of tools at it’s disposal to accumulate wealth besides slaving away at a day job as benefits from a day job/w2 income erodes… However middle class didn’t take advantage of the tools when it had them available.
Today, middle class america is in dire situation..It needs those very tools to accumulate/replenish wealth for which it lost….BUT, now those tools aren’t available….
Now that you won’t have tools available to accumulate wealth besides your day job, and now like most likely your day job’s salary is flat to going down to begin with… How do you propose to be ever get out rat race…For instance, how do you ever think you’ll be able to afford housing instead of perpetually renting from a landlord…You can’t just count on a w-2 job…
Something happened in the mist of our industrial change. Companies and institutions shifted the burden of guaranteed future from pensions that were provided by private and public companies into individuals (401k, self directed retirements, individual investments)…You were on the hook for growing your own money…And at the time, the government provided you a lot of tools to help you get there. That was the key and that was the only shot any middle class american had to get out of the rat hole. It’s gone…It’s not coming back…
If you’re not worried, you should be, especially if your young.
You think taking a 15 dividend rate isn’t going to affect middle class. Let’s think about this…
If you were middle class, and you tucked away your savings in a dividend investment that produced 8% return, you were able to accumulate wealth for the past 8 years much faster than if you were taxed at your normal income tax rate (probably 25-30% if you don’t have a schedule A deduction)…That would have benefited you directly…(Whether you chose to be financial literate, understand, and do it yourself, that was your decision…)..
If that 15% cap rate is gone, even if you wanted to accumulate wealth now for instance to save up for a primary home, you don’t have that option anymore…Gone…You lose, not rich people… You’re still stuck at square 1…Rich people still have their expensive accountants and loopholes they can exploit…That’s historically what happens all the time…
