Wednesday, May 16, 2012

The Working Class Angst: Gameship for the rich and the poor

I just got a letter from the executive director for AARP Florida wanting my input. As stated in this blog, I understand the working class's angst about having more of their productive work effort going to pay for the gamesmanship of the rich (both corporate and individual) and the truly poor.

Whether that be corporate tax loopholes, federal subsidies, or merely other costs passed to the consumer (an indirect tax), or the rich individual taking every tax advantage imaginable-clear to the other end of the spectrum, that poor person that masters gamesmanship in getting every entitlement they can qualify for.

We have this disaster in which the middle class has to earn their living and which politicians take ever-increasing amounts from these straddled workers to allow gamesmanship played by both polar class extremes-the rich and the poor.

I can think of only one solution to middle class angst-we as a nation need to evolve into both the rich and the poor becoming part of the solution of the middle class.  There has to be major modifications to the rich corporations and wealthy individuals by major tax reform based on net worth-not income.  The richer you are, the more an entity or individual has benefited from our national resources, then our nation should retain a progressive income tax system-never a regressive system. 

Ditto on entitlements as originally designed. Entitlement programs should only be paid out to low net worth, truly in need kind of individuals.  It is absurd there is no cap on Social Security benefits or on Medicaid based on an individuals net worth.  If there is no declaration of net worth including assets, the rich will get social security and Medicare benefits regardless of need, whether we as a nation can afford it.

I understand the argument by AARP and the senior citizens.  What rational person states, no thanks-I don't need a federal check.  If they met eligibility requirements, they get x benefits paid to them.  Except we are now a broke ass nation and there has to be a major shift to some kind of rational entitlement program(s) going forward; along the lines of affordability based on net worth. 

All I can say is we need to go retro on entitlements and revert back to allowing entitlements based on net worth calculations.  On one hand, if you are truly needy after spending down all of your net worth and disposing of all your assets, then you can get entitlements.  That way, unlike socialist Europe, when you truly need federal entitlements, maybe there will still be some in our brokeass federal government.

Finally, if you qualify because of a true financial need, the penalty of federal entitlements is that you are destined to survive, while concurrently being forced to live the rest of the time in the poverty trap of federal entitlements.  And if you cannot, or do not get out of the poverty trap on their own initiativwe, their future outlook should be quite bleak and hopeless.  There has to be a good incentive to get out of the poverty trap-or else, why should the poor leave poverty?

No comments:

Post a Comment

Anyone that would like to post solutions to make America a better nation as a guest blog author; or has solutions to fix some of the problems in America, send me an essay to Also known as Thomas E. Scherer, your better candidate for United States Congress

Merely remember if I am elected to Congress, you the individual are my boss. PACS, Lobbyists and Special Interest Groups, sorry, but just go away. Americans are tired of the United PACS of America buying and corrupting our congressman and Senators. Our candidate is not for sale.

Note: Only a member of this blog may post a comment.