Democracy or Plutocracy?

Democracy or Plutocracy? This in my opinion, is one of the biggest problems our Country is facing.

I remember when my dad worked at Western Electric and made $75 bucks a week. My mom did not have to work and stayed home with the kids. We had a decent car. We had a nice house in a nice neighborhood. My father was able to pay all his bills and still bank enough money every week so that 50 years later he is still supporting my mom from the grave.  As a realtor I have young families come to me where both the husband and wife work full time and they can’t afford the going rate for a decent rental.

What the heck happened to this country? In my opinion what is wrong with this country is a real life reversal of Robin Hood.  The rich stole from the poor. The rich control 85% of the wealth in this country while 95% of Americans share the remaining 15%. The wealthiest Americans stole all our retirement money by cooking the books, insider trading and all other sorts of illegal activity on Wall Street, by shipping all of our jobs overseas, by de-unionizing thousands of jobs and stripping us of our rights, by creating tax loopholes and other types of corporate welfare that saved the wealthiest Americans more money annually than the rest of us earn in total income.  And now they have the audacity to be mad at these same people because they need food stamps, medical and rental assistance.  We are hating the wrong class of people here. The ultra rich want us to hate the poor so it takes the spotlight off what they have and are doing to us. They want us to focus on the welfare money the government is spending on the bottom 47% rather than know how much money they are spending on corporate welfare given to benefit the top 5%. In my opinion this new Republican Party is bought and paid for by the ultra rich as Republicans refuse to even discuss ending tax cuts and other corporate welfare.  If this keeps us we will no longer have a democracy and instead we will have a Plutocracy. I don’t care if you like Obama or not, it's not about him, it’s about protecting and preserving the middle class.

I was a staunch republican for most of my adult life, but I can no longer look at what they are doing to the poor and the middle class and be OK with it. I cannot stand with a party that throws the sick, the elderly and the poor under the bus while protecting the wealthiest people in America. I cannot stand with a party who refuses to make the wealthiest Americans pay their fair share of taxes while the middle class struggle to pay their taxes.  I did not leave the Republican Party, they left me.

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Michael Stone October 08, 2012 at 06:29 PM
Linda, Don't forget that the 14% is mostly from investment income. Therefore he is being taxed on money that was already taxed when he earned it originally. (ex. I earn $100K, pay 30% in taxes. After I pay all my bills I invest $20K in the market with the money left over) That $20K is my money after my taxes have been paid. I have a choice, I can buy an Xbox, Ipad, Big screen tv, cigarettes, lottery tickets, etc. or I can invest it in a business that will create jobs. There is as good a chance that my $20K investment loses money and my money disappears and I am left with nothing. (not even a brand new ipad) But, if that same $20K turns into 25K you want me to pay 85% of that 5K in taxes? Why would I invest again?
Michael Stone October 08, 2012 at 06:40 PM
Rose, who told you that people making over $500,000 were paying a 90% tax rate? That is absurd. I am surprised you would fall for that nonsense. If you want to see real waste and frivolity you need look no further than government. I know I'm repeating myself but it's not what they buy that's the real problem, it's what they spend.
Michael Stone October 08, 2012 at 06:42 PM
Linda, You did say we should hate them... "We are hating the wrong class of people here."
Michael Stone October 08, 2012 at 06:55 PM
However Rose, Don't forget that every dollar ever spent by the government was taken from a private business owner, or one of his/her employees through taxes.. (unless you count the dollars they simply print...) Evey government job, program, or entitlement is paid for by the private sector and the taxes they supply. Without the private sector, their would be no money for the government to build the roads, and schools, and pay the teachers and the fire fighters, and military to protect this great country. The system is perfectly designed for harmony between business and government where business is allowed to pursue their version of the American Dream while supplying the government the resources they need to feed the machine, and provide the things necessary for everyone to contribute. Unfortunately, our government officials on both sides of the aisle would rather forget that. They too smart for their own good and make enemies out of allies. I love your passion for the issues, and even though we have opposing view points, the problem doe not lie in a difference of opinion. It lies in a leadership model that has strayed from it's purpose. Politicians concerned only about the next election. I know you support our President, and I am not saying any other politician is better, but when our embassy is being attacked and he decides to go on "The View" and smile for the cameras... we are all in trouble.
Rod October 08, 2012 at 07:22 PM
"I feel bad even asking Patnode about Romney. Big and burly, with white hair and the thick forearms of a man who's stocked a shelf or two in his lifetime, he seems to belong to an era before things like leveraged debt even existed. For 38 years, Patnode worked for a company called KB Toys in Pittsfield. He was the longest-serving employee in the company's history, opening some of the firm's first mall stores, ... traveling all over the world to help build an empire that at its peak included 1,300 stores. ...." "Then in 2000, right before Romney gave up his ownership stake in Bain Capital, the firm targeted KB Toys. The debacle that followed serves as a prime example of the conflict between the old model of American business, built from the ground up with sweat and industry know-how, and the new globalist model, the Romney model, which uses leverage as a weapon of high-speed conquest. .... Bain ended up earning a return of at least 370 percent on the deal, while KB Toys fell into bankruptcy, saddled with millions in debt. KB's former parent company, Big Lots, alleged in bankruptcy court that Bain's "unjustified" return on the dividend recap was actually "900 percent in a mere 16 months." Patnode, by contrast, was fired in December 2008, after almost four decades on the job. Like other employees, he didn't get a single day's severance. Read more: http://www.rollingstone.com/politics/news/greed-and-debt-the-true-story-of-mitt-romney-and-bain-capital-20120829


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