BUT AMERICA IS “BROKE” IN MANY WAYS
by New York State Grassroots Groups, ©2015
(Oct. 29, 2015) — In correcting government injustices the people’s activism have mostly failed, BUT the people should celebrate this victory. The people ran Boehner out of office, which shows some promise that America still has a spark of life.
While Ryan isn’t much better, he now knows he sits on a thrown of prickly thorns.
Your government is about to pass another bad [worse] budget deal. Even the so-called “special caucuses” will make sure it passes. Why? They will do this strictly for their own self-interest – so the budget won’t interfere with their own reelection. What a pathetic bunch the political class is – ALL of them. When they come to you for donations – REMEMBER – they contributed – AGAIN – to KEEPING YOU BROKE.
The American Society Is Totally BROKE.
Not Just Politically, Morally and Spiritually – FINANCIALLY BROKE.
Americans are BROKE. *BankRate.com says; 48.63% of the American people have no savings whatsoever. 70.18% of the American people have less than $1,000 in savings. YIKES – those are the last (Oct. 2015) figures directly from the banking industry. Yup, the bulk of American citizens are within 1 week to 3 months of being homeless and starving if, or when, they lose a job or “entitlements.” No, you don’t hear alarming facts like that from politicians and pundits. They intentionally create an illusion that things ain’t so bad. They lie and deceive to mask their incompetence, lack of management ability and leadership skills. They are ALL morally BROKE. Even the so-called “activists” balance lies and truth to keep you spiritually engaged so you keep feeding them the few pennies you have left to fatten their own immoral and spiritually BROKE agendas. Yup, America is Morally, Spiritually and Financially BROKE!
The average American’s yearly salary is $37,000. The average cost per person for necessities is **$19,866.00, and the average total taxes each person pays per year is tax of 46% (all taxes) totaling $17,020.00. The total cost of living (necessities + Taxes) is $36,886.00 (leaving just $114.00 per year to spend or save).
Will a Raise in the Minimum wage to $15 per hour help?
A min. wage of $15 per hr. x 40 hrs. = $600wk. x 52 wks. = $31,200 per yr. A wage of that size places ALL working people in the same tax position – paying 46%*** in total taxes ($14,352.00 paid in taxes on $31,200.00). A person making $8.25 per hour makes $17,160 per year and pays an average of 12% total taxes or $2,060. The person making $8.25 winds up keeping $15.100.00 per year. The person making $15 winds up keeping $16,848.00 – that is, if they keep the job and if they work for 40 hours a week. It is most likely they will work no more than 30 hours ($23,400.00 yr.) The truth is that raising the minimum wage makes government wealthier while it harms ALL society.
The Correct Answer:
Put More Money In The Pockets Of ALL People Through Tax Relief.
· A 15% tax reduction for ALL people = tax relief per person of $2.553.00yr. [to 39.1% total taxes paid]
· A 10% tax reduction for ALL people = tax relief per person of $1,702.00yr. [to 41.4% total taxes paid]
Lowering taxes on ALL people causes the average cost of living to go down from $36,886.00/yr. to $34,333-$35,184.00/yr. This dynamic gives ALL people more money to pay bills and more money to spend and save – thus increasing ALL business – thus causing a compulsory increasing employment.
A 10% to 20% increase in business makes it necessary for the businesses to hire at least 10% more people, or 16,000,000 more people will be working. 16,000,000 more taxpaying workers translates to an increase of tax revenue of $14,420.00 per person x 16,000,000 new workers = $230,720,000,000 additional tax revenue.
Tax relief of 10% for ALL people would cost government $1,702.00 in taxes per person x 128,000,000 workers = $217,856,000,000 tax relief BUT a net GAIN in tax revenue of $12,864,000,000.
Tax relief of 15% for ALL people would spur a 20% to 40% increase in business activity. That amount of increased business would cause employment to rise by at least 17%, or add 21,760,000 more jobs.
Tax relief of 15% for ALL people would cost government $2,353.00 in taxes per person x 128,000,000 workers = $2353.00 x 128,000,000 taxpayers = $301,184,000,000 in tax relief BUT a net GAIN in tax revenue of $13,617,000,000 [a workforce of 149,760.000 (128M + 21,76M) X $14,467.00 = $314,801,000,000].
Government has done it before – that is; they mandated controls. They can mandate a 1 year tax relief of 15%
If every tax across the country were reduced by 15% for one year, what would happen?
· Every week people would have more money in their pocket. Every week they would spend more money.
· Every week businesses would have more money. Every week businesses would expand and hire.
· Every week government would have less money. Every week they would shrink and spend less money
· Every week government would cut costs. Every week they would increase employee productivity.
· Every week America would be digging out of the deep hole we are in.
A 1 year tax relief program might just BRAKE the America’s BROKE Syndrome.
* Facts from BankRate.com:
20.88% have NO savings account
27.75% have a savings account with a -0- balance
48.63% have no savings
8.95% maintain a minimum savings account balance
12.6% have less than $1,000 in savings account
70.18% have less than $1,000 in savings account
9.95% have $1,000 to $4,999 in savings account
80.13% have less than $5,000 in savings
14.76% have more than $10,000 in savings account
5.06% have $55K to $60K
99.95% have less than $60,000 in savings
½ of 1% have more than $60.000 in savings.
** Supporting Facts:
Average per person’s monthly Rent or Mortgage = $650.00
Average per person’s monthly cost for food = $450.00
Average per person’s monthly cost for Auto = $497.50
Average per person’s monthly cost for clothing = $58.00
Average person’s monthly cost for necessities = $1,655.50
[$1,655.50 X 12 months = $19,866.00 cost pp per year]
Average income = $37,000.00
** Average (all) tax of 46% = $17,020.00
* Average cost of necessities = $19,866.00
Per person Cost of living [$36,886.00]
Per Person discretionary money [$114.00 per year]
*** 46% In Total Taxes Paid Is A Conservative Estimate.
State and federal income tax / sales tax / property tax / gas tax / phone tax / auto tax / medical tax / water tax / SS tax / payroll tax / capital gains tax / dividend tax / tax on everything else.
REAL Tax is much more than 46%