Warning, political talk.....
I'm watching 60 minutes. "Obama's plan cut taxes for the middle class. Raises taxes on those earning over $250,000. McCain's plan cuts taxes for everyone."
Cut taxes for everyone? Is it Christmas everyday? So, um, where does the $700B for this latest bailout come from???? How do we pay for Iraq? People earning $250K are probably not worrying about how to pay their heating bills this winter. $250K is decent money. It's not wealth, not any longer. But it's a fair chunk of change. And people earning $400K+ surely can make a small sacrifice while we're in such trouble.
My husband had a great idea - in addition to the financial/mortgage bailout, which the world economy needs, how about if Washington says to credit card companies, "OK, you now have a ceiling interest rate of 12% - you can no longer charge Americans 26%, 29.9% even with a late payment."
This would allow average Americans who carry debt (like the investment and morgage companies we're bailing out) to pay OFF their debt faster, or at all, and put that savings back into the economy. How is that bad? So credit card companies wouldf earn less money. Here's a thought, stop paying that nice man in India to call me every night. How's that?
A few years ago, I was late on a credit card payment over the holidays. Late as in about 2 days. Late as in, "Oh shit! I didn't send that bill in and it's 12/23!" My rate went from 9.9% to 29.99% and remained there for six months. I'd been a loyal, paying customer for over a decade. That's USURY - and we shouldn't allow it.
Oh, and I'm trying to research further the info I've read that McCain's healthcare plan makes your company paid healthcare benefits part of your taxable income. Part of your taxable income. That means if your company pays $10,000 a year toward your health premium, you pay taxes on an additional $10K. Much like salespeople pay tax on some of their benefits, like a company car. Younger people will opt out further of healthcare to save taxes, leaving older sicker people in the plans - and rates go up again.
Here in CT, well-to-do CT, you mention winter and people's eyes grow WIDE with fear. I can't fathom what our gas bills are going to be like, even though we've downsized from our downsizing. My husband makes a salary that I used to think was a fortune - after rent, $1000 that we pay in health insurance premiums, car insurance, misc. payments and that luxury I like to call "breakfast, lunch and dinner" we struggle. We don't save as much as we should. I worry for how we will pay for our older years - and the girls' too.
If you're wealthy, stop worrying about some "poor person not pulling his weight." Sure, there are shysters at ALL levels of society. But please, just suck it up and pay a bit more in taxes. You'll survive. And with any luck, so will America.