Rep. Ward highlights Minnesota’s educated work force as “one of many” ways Minnesota is attractive to business, and what business doesn’t value access to a young, intelligent motivated work force? Perhaps if the atmosphere were tainted by overregulation and higher taxation on wealthy investors and corporations, an educated work force may not be the first priority in choosing where to open up shop. While higher education is cranking out bright minds, our colleges and universities do not create the economy: they provide those of us who are entering the work force with the skills to secure a job and earn a living.
How often must your constituents hold up their copy of a taxable income breakdown chart and point out that the top 10 percent pay 70 percent of total tax revenue in the United States? I implore you to employ more accurate diction and most of all, facts. You call for the Republicans in Congress to “ask” millionaires to pay the same “amount” of taxes that middle class Minnesota middle class families pay, implying that they have an option to decline your request. Those making $34,501 to $83,600 pay 25 percent income tax equaling $8,625 to $20,900 a year. Those making $174,401 and up pay 33-35 percent income tax and pay a minimum of $43,600 a year and are among the top 10 percent paying 70 percent of all taxes according to the IRS.
Finally, the tone of your statement compliments the misinformation it contains. If you would like to blame Tea Party Republicans, do so accurately by crediting them for making the unpleasant decision to scale back spending and balance the budget. Advertise their ability to do what our United States Congress cannot, and exploit their willingness to do what is right, not what is popular.
Andrew Campbell
CLC student
Brainerd
Comments (37)
Add commentYou forgot that the gamblers
You forgot that the gamblers who make a Billion dollars or more on stocks can get away with paying only 15% federal tax on that Billion.
A hedgefund manager (gambler with other people's money) recently made over $4,000,000,000 in a single year and paid 15% federal tax on that 4 Billion. That's a lower percentage than a wage earner making $34,000/yr.
Is that fair?
This is class warfare and the American workers is losing. Now the greedy Republicans want to lower the minimum wage making it even harder to get by in America.
Fish
So you are saying that he paid in more in one year than you will pay in your whole life.
True. And he made more in
True. And he made more in one year without producing any tangible product than 500,000 Americans will make in their whole life time.
Meanwhile the worker who actually produces something useful gets taxed at a much higher rate.
Fish, What are the details
Fish,
What are the details regarding the $34k a year worker? Married, children, home, etc...
Fish, Just googled the income
Fish,
Just googled the income tax brackets, and even without any deductions or credits it appears someone making $34k will be taxed at 15%.
So...what's your point again?
Thank you college student
Thank you for speaking out and for thinking "outside the box".
I think people's brains are wired differently, so you either understand
or you don't. The minimum wage is an example of how people understand
or don't understand the broader picture. The question always is:
how much is enough? Is it possible a wage would be higher if
there were no minimum wage?
Thanks to you college student for your comments.
andrew:
Remember that those brackets apply to net income...the amount after exemptions, standard deductions etc. So the effective tax rate is considerably less if you have home mortgage interest, medical expenses plus the usual deductions.
( eg. $34,000 less standard deduction of $5,700 less exemption of 3,650 = $24,650 taxable income. 15% tax rate would be $3,690 or an effective rate of 11%) And it would be almost nothing if the person is married with children.
I used the letter writers
I used the letter writers figure.
Fearful and angry?
{There is a large and growing segment of our culture that is fearful and angry; when people are fearful and angry, they look for someone to blame.}
Maybe I’m blind, but it looks like some people are always blaming the Tea Party for everything they don't like.
JVC
"Democrats, at the very least
"Democrats, at the very least they are not the tools of those that consider most of us to be only tools."
Wow. Thoroughly brainwashed.
The failure
to address the manipulation in Mr. Ward's statement must mean we've all accepted my point that his rhetoric is just that. College does not create an economy, taxes are in fact unfair (millionaires pay millions more) and a balanced budget seems to be unimportant to John Ward.
A few of you have changed the subject a bit:
Eyolf, your theory reflects an intense pessimism. You truly believe that the majority of people with power, money and advantage have an evil desire to see the masses suffer. There are far to many example of the well-to-do giving astounding amounts of money and time to charity. There are far too few examples of what you speak of, unfortunately it's in our nature to be angry at the few who aim to hurt than to be happy in the many who's desire is to make the world a better place.
Fish, the amount of regulation on stocks ensures that most people don't make that kind of money and rather dwell in the middle class, making a career in something they do well and supporting their family or business. Wouldn't you say a hedge-fund manager must work incredibly hard and deal with enormous stress? You show a hunger to chastise those who work hard and enjoy success because you either don't understand the usefulness of their career or assume they don't deserve it.
I appreciate the readers and the comments, this is my first letter. Discussion is important.
"Fish, the amount of
"Fish, the amount of regulation on stocks ensures that most people don't make that kind of money and rather dwell in the middle class, making a career in something they do well and supporting their family or business. Wouldn't you say a hedge-fund manager must work incredibly hard and deal with enormous stress? "
I'm sure they are under a lot of stress but so is the guy working 2-3 low wage jobs trying to support a family without health care. I don't see that the hedgefund manager deserves a tax break over the working class American.
Watch "The Crash of 1929". I think that's the title. You'll see how the wealthy were able to artificially create a stock boom to draw in working class American investors and then walk away with the profits leaving devastation in their wake. If stocks were as regulated as some would have us believe we wouldn't be where we are today. And despite the evidence of the failure of deregulation the GOP is fighting to restore regulation.
One of the things that is
One of the things that is destroying this country is the widening gap between the working class American and the ultra wealthy.
That comes from tax breaks bought with the purchase of "Free Speech", the destruction of the free market, the formation of companies "too big to fail" and the undeserved influence of the people who do nothing for this country and accumulate wealth by skimming off the profits of working Americans.
The widening gap is going to shrink the middle class small enough to be drowned in a bathtub.
Fish, You really do need to
Fish,
You really do need to freshen up your list of canned comments.
but remember,
he thinks we should stick to the topic and not attack the poster...I guess that is his job. Forgive him, he is off his meds today.
yea!
we are getting under your skin! ha ha ha ha
southnet: and you did mention me! LOL!! Oh, btw, it's "you're"
it is ticks
And they are adorable! Thanks for the compliment!
What's the topic again?
What's the topic again?