Posted 5 years ago on Oct. 16, 2011, 7:40 p.m. EST by LongLostAndLooking
from Portland, OR
This content is user submitted and not an official statement
You cannot expect people who don't earn enough money to survive to pay 10% or more of their income to taxes.
Minimum wage ($15,080 max before taxes) is not a livable wage.
"In 2010, 72.9 million American workers age 16 and over were paid at hourly rates, representing 58.8 percent of all wage and salary workers.1 Among those paid by the hour, 1.8 million earned exactly the prevailing Federal minimum wage of $7.25 per hour. About 2.5 million had wages below the minimum.2 Together, these 4.4 million workers with wages at or below the Federal minimum made up 6.0 percent of all hourly-paid workers. " Source: http://www.bls.gov/cps/minwage2010.htm
Here's Morgan trying to do it:
Part 1: http://www.youtube.com/watch?v=yloNmBTKNIE Part 2: http://www.youtube.com/watch?v=7Gt6v01UA1c Part 3: http://www.youtube.com/watch?v=urGuAEGhMjA Part 4: http://www.youtube.com/watch?v=JOSS5NODkro Part 5: http://www.youtube.com/watch?v=VBbaBUTm5Rs
It just doesn't work.
Half of America earns less than $32,000 per year. They can't afford to pay taxes either because you can't raise a family on that when health care alone is consumes almost half of their paychecks.
Median Wage or Salary Income (dollars) All Races - $31,631 Source: http://www.census.gov/hhes/www/cpstables/032011/perinc/new10_001.htm
Average family health insurance policy: $13,375, up 5% - http://www.usatoday.com/money/industries/health/2009-09-15-insurance-costs_N.htm
Income inequality caused by trickle down economics is the problem. The flat tax and the 999 plan only make that worse.
ABC News DESTROYS Cain's 999 plan Shows it doubles taxes on Middle Class - http://www.dailykos.com/story/2011/10/12/1025781/-ABC-News-DESTROYS-Cains-999-plan-Shows-it-doubles-taxes-on-Middle-Class
We have to get rid of trickle down economics. Any policy that continues or promotes trickle down economics is just a continuation of the very problems we've been protesting.