The Distorted Wealth Distribution in USA Displayed

This is a great video that shows, in a simplified way, how skewed the wealth distribution in America has become.  Its not about favoring socialism by any means.  Quite the opposite. However, it does show how dramatically things have changed in favor of the very rich and to the detriment of everyone else. Things have gotten so out of wack where a CEO makes 380 times the amount the average person working for him makes. Does that CEO actually contribute that much more? I doubt it based on my experience in business.

Facts on Taxes 2012 vs 2013

A couple things to point out on this comparison graph of tax changes from 2012 – 2013

  • The brackets all increased by inflation so you could make a bit more and not move to higher bracket
  • You would have to see your adjusted taxable income (net after deductions) go beyond $400k ($450k joint) before that 39.6% rate kicked in.  Remember this is NET, not gross income.
  • If you are in the 15% tax bracket making NTI of < 36k, you pay 0% on LT cap gains.  And you can make up to $200K (250k joint) NTI and still pay the 15% cap gains tax as before.
  • Yes estate tax went up from 35% to 40% but it only matters to those with estates > 5.35 Million and probably none of those people are reading this blog.
  • Payroll tax is FICA and it went back to 6.2% from the two year vacation whereby it was 4.2%.  This was a crappy idea anyway cause now it feels like a tax increase when it was a gift in the first place.
  • Limitations on itemized deductions only apply to those with NTI >$250k ($300k joint).
  • Nothing was done to the ATM tax which is a shame.

Jon Stewart on the Gun Control Debate

It only makes sense to have some reasonable gun control laws.  This country has vastly more gun related deaths than any other civilized country and its all because of the NRA control of congress.  It just amazes me at the flimsy-ass excuses these fanatics make over background checks and ban of assault rifles and high capacity magazines.  WTF??   Just cause some people get their rocks off shooting a shit load of bullets into a mountain, then everyone should be allowed to have them.  Its crazy.  And they keep talking 2nd amendment as if its about to be repealed.  What kind of fear based nonsense is that?  that would be like me saying if we allow assault rifles then next will come allowing people to have surface to air missles.  Similar argument and totally stupid.   Here is Jon Stewart response to the nonsense.  I just love this guy.  He puts it so succinctly and shows the stupidity of the comments these congressmen and FOX make.

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U.S. Chamber of commerce is NOT the voice for small business

The Chamber of Commerce is actually in the pocket of  just 16  corporations and does not represent over 93% of the 3 million small businesses it claims to represent.  Look at this graphic display showing their lobbying efforts and their stands against progressive measures in the past.

Why It

The chamber of commerce is bullshit.  Out to make the rich richer is all.