BA, the one saving grace is that these pensioners and other assorted fruitloops congregating here are outliers of the US population but not by much anymore. Obama ran on a much
more conservative stance than Bernie Sanders is running, and the TIME link that doornob posted on another thread illustrates how whacko the "main stream" writers can be , promoting
open borders and basically a free lunch from cradle to grave, with the author saying it's now "cool" to believe in these noble causes.
Here in MN, with our high state income tax, and high health insurance, a new realitly is playing out. We actually are at about the 95% effective tax rate to go from $50,000 of reported
earnings, to $100,000 when you figure in what the additional health care and federal and state income tax bites are.
A family of four, earning $50,000 can now pay basically nothing for health coverage and that same family earning $100,000 will pay about $30,000. Throw in 15% federal income tax bites,
7 % state taxes 7% FICA or 15% SE tax, and you basically wipe out the $50,000 difference in income. Not even getting into transportation costs of getting to work, EIC credits if you get under $40,000....etc etc.
Once the mainstream public sees this, and people actually figure these things out pretty quickly, you will see very few people making money in that zone. If you can make $200,000 you
still will, but the start up self employed person, the two income household without employer provided healthcare etal are going to shut down or go underground. That will be what happens....
nobody pays 95%...they didnt during the Eisenhower era, they wont now.
Thanks Obama!
