Friday, April 13, 2012

the Rich Don't Need to Play the Lottery - They have the Republicans!!

The rich don't need to play the lottery, they have the Republicans. The Paul Ryan budget proposal, endorsed by the now Republican Presidential Candidate, Mitt Romney is a $3 trillion giveaway to the rich - millionaires and corporations - over a three year period. To pay for the giveaway, Ryan will take away benefits that go to lower and middle class Americans.

There is a cost to the rich, of course; as they will be expected to ante up some campaign contributions. But, let's say they each give the individual maximum of $10,000; the profit margin is tremendous as anyone with a $1million annual income will get something like a $150,000 tax break.

And, the odds are terrific. They have a 50/50 chance of winning which is not bad odds considering that if they do nothing, they could take a hit as President Obama would then have a chance to put in his Buffet tax on millionaires which would ensure that they hve to pay something like a fair share of taxes like most of us.

So, what's the problem? The problem is that such a budget will ruin the economy which is driven by consumption by middle and lower class income people. The rich don't produce, they manage, mostly their own money and now ours too. The end result of the last tax break for the rich (the Bush one) was a devastated economy and a stock market in the toilet. The stock market in the toilet actually also affects more the middle class than the 1% as the 1% can ride out the storm until a good Democrat gets back in office to restore the value of all our investments, while the middle class, especially the seniors who are retired take a hit that makes life difficult as the margin between their base need and their real income moves to nill or below.

Here's the kicker... a good number of people who will be robbed by the Romney/Ryan budget will vote for the Republicans. I have to hand it to them. They believe and are successful in getting, if not a majority, then something close to it to believe a lie - that the rich drive the economy and so to give them money creates jobs for all the rest of us.

I can only say: you get what you vote for. Don't be stupid!!!