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  •  I think he's referring to the fact that (4+ / 0-)
    Recommended by:
    Odysseus, TheCrank, socalmonk, schnecke21

    investment income and capital gains is taxed at a much lower rate than employee income---which is why Warren Buffet famously paid less taxes than his secretary did.

    •  Well sure. But those guys aren't yuppies. (1+ / 0-)
      Recommended by:
      Odysseus

      Yuppies work for guys like that, and have watched their investments (401K) disappear, and work 60 hr weeks for a flat salary with no overtime. His "yuppie rage" is misplaced.

      Gentlemen, you can't fight in here! This is the War Room!

      by bigtimecynic on Fri Jan 28, 2011 at 08:15:41 AM PST

      [ Parent ]

    •  Payroll taxes, too (1+ / 0-)
      Recommended by:
      socalmonk

      These tend to hurt low-wage-earners (who tend to make up the bulk of hourly employees) disproportionately because of the higher rates of payroll taxes relative to total income. The Republicans made a lot in the fall of this meme that because 20% or so of Americans were exempt from federal income tax, that made this a big class warfare thing, the poor freeloading on the middle class. Far from it: sales taxes are regressive and hurt the poor more than anybody, and have been inflating due to reductions in property taxes and top bracket income taxes the last generation as localities struggle to make up for lost income sources.

      Throw on payroll taxes, the working poor in this country are the biggest payers of taxes in this country, especially when compared to disposable income.

      This is why health insurance and coverage is so critical, and why we have to defend the President strongly on this. Health care inflation is all out of whack with overall inflation and has been for years. It's a game of chicken, even if your employer offers health insurance, when you're really poorly paid, as to whether the premium is worth it if you can't make the rent or buy food or clothes for your kids. The Obama reforms are going to make inroads towards taking this worry off the table for people who are desperate for work and trying to make ends meet, and for that matter people who would, say, like to start a business but can't because they can't self-insure. It's maybe the best thing that has happened for grassroots free enterprise enterpreneurship in this country's history. And the GOP wants to kill it.

      Some people are intolerant, and I CAN'T STAND people like that. -- Tom Lehrer

      by TheCrank on Fri Jan 28, 2011 at 02:10:31 PM PST

      [ Parent ]

      •  I agree partially (1+ / 0-)
        Recommended by:
        socalmonk

        HCR in some form is absolutely necessary from a business point of view (which is why the corporados supported it). My bitch is with the form it took---I'd much rather see health care run as a public utility, rather than forcing people to pay profits to a privately-owned business for a service that SHOULD be provided by the government as a basic right for allpeople (like water and electricity).

        Oddly enough, the largest employer in the US, WalMart (and THAT should tell us something right there) came out in favor of . .  drum roll . . .  socialized single-payer health care.  Why?  Because they know that health care plan of some sort is utterly inevitable--and they don't want to have to pay for it.

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