A Quote by George W. Bush
So many people commute in this country by car long enough distances to really cut into their income, their real income, that they would change their vote based on gas prices.
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My rich dad taught me to focus on passive income and spend my time acquiring the assets that provide passive or long term residual income...passive income from capital gains, dividends, residual income from business, rental income from real estate, and royalties.
The increase in inequality in income is a longtime trend, but the pressure on middle- and low-income workers is going up rapidly. Especially if they live in an area where there are high housing and gas prices, like California.
For people who live in the suburbs and must commute long distances to work, their wealth will sink as energy prices rise.
You know, the elites always want to shame the poor - right? - and everyone else. I mean, the fact is, this economy is based on 70 percent of the people driving consumer demand. If people do not purchase goods and services, this economy will grind to recession. And that is why, if you are going to do a tax cut, it ought to really be aimed at low-income and middle-income people.
While easy to understand, the income-based poverty line has limitations. Specifically, the median monthly household income measures only income without considering assets.
The horn of dilemma of energy politics is what really drives concern about this energy in this country, at the gut level for most people, is high gas prices. And if you really want to fight global warming and try to reduce our carbon emissions, the cleanest, easiest, most rational way to do it would to make the price of gas even higher through very stiff gas prices.
The decision is I'm going to do everything I can to fight for the working class of this country, the low-income people against income and wealth inequality, do everything we can about climate change.
Recalling that a good chunk of the 47 percent who don't pay income taxes are Romney supporters - especially of course seniors (who might well 'believe they are entitled to heath care,' a position Romney agrees with), as well as many lower-income Americans (including men and women serving in the military) who think conservative policies are better for the country even if they're not getting a tax cut under the Romney plan. So Romney seems to have contempt not just for the Democrats who oppose him, but for tens of millions who intend to vote for him.
The lower income individuals, under any Republican proposal, at least that I have seen, are real losers in the framework because there is not enough subsidy, not enough assistance, for them to realistically participate in the market. Particularly if you halt or rollback the Medicaid expansion, which is for the lowest income workers.
The confidence is really driven by the woman - whether she can have the confidence that there will be enough earning or income to finance all the domestic spending - but also by the middle-income class, which for many Asian countries has become the growth power for the economy.
The collective income of all these people - the bottom half - is less than three percent of global household income, and so there is a grotesque maldistribution of income and wealth.
No politician can praise unemployment or inflation, and there is no way of combining high employment with stable prices that does not involve some control of income and prices. Otherwise the struggle for more consumption and more income to sustain it-a struggle that modern corporations, modern unions and modern democracy all facilitate and encourage-will drive up prices. Only heavy unemployment will then temper this upward thrust. Not many wish to confront the truth that the modern economy gives a choice only between inflation, unemployment, or controls.
As an 18-year-old, I learned a valuable lesson when I attempted to cut costs and pumped leaded gas into my first car - a car that required unleaded gas only. It did not take long before I realized the gravity of my error.
It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.
There are several problems with the ACA's reliance on means-based inclusion criteria and mandatory participation in exchanges - the complexity of the exchange mechanism, and the potential for income-based subsidies to become a disincentive to earn if insurance rates escalate for those beyond the income threshold.
As income from work has become more concentrated in America, the super rich have invested in businesses, real estate, art, and other assets. The income from these assets is now concentrating even faster than income from work.
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