Forum Post: Am I the 53%?
Posted 13 years ago on Nov. 1, 2011, 8:20 p.m. EST by wouldstronglypreferjustice
(35)
from Portland, OR
This content is user submitted and not an official statement
I want to argue against the 53% perspective that paying federal income tax is a requisite for protest.
I am a 47-yr old married father of two. I have a graduate degree and worked my way through college, assuming less than $10,000 in debt (which I paid off in two years). I have worked and paid taxes since I was 14 years old. In 2007, I earned $120,000 and paid approximately $30,000 in taxes. In years prior, I earned less, but the proportion was similar.
Then came the recession... In 2008, I was laid off by my Fortune 100 employer of nine years (despite layoffs, my employer could afford to pay our CEO $42.8 million). I spent the next two years looking for work. During, I worked every job I could find (including at a car wash, fast food, you name it - often earning less than $10 per hour) and I was happy and willing to do the work if it fed my family. In addition, we cut back like crazy and exhausted every financial resource we had built up over 20 years (which had lost over 30% of their value) in order to continue meeting our obligations. We placed our home up for sale but its value had decreased by over 50% and we were underwater on our mortgage (our property taxes increased by 20% in 2009). In the 18 months our home was for sale, we received only two "short sale" offers, both of which were rejected by Bank of America. In the end, we fell behind on our mortgage and, at three months delinquent, Bank of America started foreclosure. I spent over a year trying to restructure our loan through the numerous taxpayer-funded (my taxes) programs offered by the federal government. B of A frustrated these efforts at every turn. Lost paperwork, errors in our loan account, endless shuffling from one department to another, mail sent to the wrong address - the list is incessant. I finally realized that I was up against something I could not beat, and, since we could not afford the attorney needed, we walked away. Our family lost. And I take responsibility for my part.
Finally, in late 2010, I thankfully found a full time job in another state earning less than 60% of my previous salary for the same position I held before - in another Fortune listed company (whose CEO earns $18 million). Between that and two part-time contract jobs, our family earned $48,000 last year. From that amount, I various taxes totaling about 12% but, because of various deductions, did not have to pay federal income tax.
Now, here's my point, you arrogant ideologues who call yourself the 53%... I assume my voice deserved to be heard when I paid income tax, so just when did it lose its value? Was it when I chose to feed my family rather than pay a mortgage to a bank that was screwing me at every turn - against an asset that plummeted in value due to that same bank's rampant speculation? Or, was it when I took the deductions the law allowed me and was exempted from income tax? And, look in the mirror and try to tell yourself that you are not just a few paychecks away from the same fate yourself.
And, what now that I am working again, and paying the income tax the 53% seems to think qualifies my voice to be heard. What of my voice now? Is it now relevant?
I support Occupy Wall Street because I believe America can be better. Better than this unholy collusion that exists between politicians and big money, better than a system that allows 1 of 5 American children to live in poverty, better than a system that cries out for educated workers and then rewards corporations for moving jobs overseas. Better than a system that allows a corporate CEO to earn 400 times that of his workers, while running his company in the ground and then turning to those same taxpayers for a handout. I support Occupy Wall Street because I believe in civil protest. Because I have children and I will not quietly relinquish them to a corrupt system.
And, because I am angry as hell. You fuckers keep on drumming...
It breaks my heart to hear this sort of story. This is what the news isn't telling us. First they take your job, then they take a chunk of your savings, then you have to spend the rest of of your savings... and the only people profiting are those on the very top.
At some point it will be as clear as daylight that something is very wrong about our government. Btw: www.getmoneyout.com seems to be the most successful campaign related to un-corrupting the government.
A couple of questions ...
What part of the country did you live to have home values fall 50%?
What year did you purchase the home?
What type of mortgage?
Resort area of Colorado, 2002, fixed rate 30-year
Pretty much exactly my situation. I earned more money in 1997 than I did in 2010 due to no fault of my own. My house is under water, my wife has gone back to work, and we are broke all the time. We can barely put food on the table. So, I am with you and I support the Occupy movement completely.
Damn. Good post.
Really Great post. Sorry for your hardship. Sounds like you worked hard and got screwed.
I love your spirit!
i dont quiet know what you are railing against . you are a perfect example of the 99% has some one said you are not? paycheck deductions for taxes is 'paying taxes' its a free loan to the government without interest. regardless of anything else.
The most profitable industries in the world (energy, healthcare, finance) have been given billions in government handouts and tax breaks. Meanwhile, they keep raising charges causing hardship for millions. With all those massive handouts, tax breaks, and obscene charges, profits rise to record high levels. Millions in bonuses are paid to the executives. With record high profits, record high dividends are paid. 40% of all dividends in the United States are paid to the richest one percent. The bottom 90 percent of Americans share about 10 percent (that's ten percent) of all dividends. The rest are paid to the top 5 percent and foreign investors. All of this causes a gradual concentration of wealth and income. This results in a net loss for the lower majority who find it more and more difficult to cover the record high cost of living, which again, is directly proportional to record high profits for the rich. As more and more people struggle to make ends meet, more and more financial aid becomes necessary. Most of which goes right back to the health care industry through Medicare, Medicaid, and a very expensive prescription drug plan. This increases government spending. This has been happening for 30 years now. During the same time, tax rates have been lowered drastically for the richest one percent. Especially those who profit from investments. These people pay only 15 percent on capital gains income. As even more wealth concentrates, the lower majority find it more difficult to sustain there share of the consumer driven economy. Demand drops as more and more people go broke. Layoffs results. Unemployment rises. This results in less revenue and more government debt.
Massive subsidies and tax breaks for Wall Street, massive tax breaks for the super rich, heavy concentration of wealth, record high charges along with record high profits and record high cost of living, more hardship for the lower majority, more government spending in the form of financial aid to compensate, more concentration of wealth, less demand, layoffs and unemployment. All of this results in slower economy and less tax revenue. At the same time more and more financial aid becomes necessary. It's a horrible downward cycle which gradually pushes the national debt higher and higher. The other big factors are the wars in the Middle East.
This post is not intended to excuse those who sit on the couch collecting welfare, make no attempt to find work, or squease out kids they can't provide for.