Wednesday, November 10, 2010

ALERT – Congress to grab your cash!

Initial reports from the commission to cut the deficit would seem to want to fix things on the backs of the middle class.

  1. No apparent cuts in funding to welfare programs or Earned Income Credits.
  2. No apparent desire to make the Federal budget smaller.
  3. Wants to limit or eliminate mortgage interest deductions (home owners)
  4. Deductions for Child Care (Mostly effects lower and middle income and single parents)
  5. Eliminate tax breaks for capital gains (investors)
  6. Reduced Military Spending
  7. Gas Tax (regressive for lower income earners)

Things that won’t really help the budget now or in the near future

  • Limiting malpractice suites (has nothing to do with government deficits)
  • Raise the Retirement age for Social Security to 68 by 2050. Currently you have to be almost 67 to be “fully” retired under Social Security.

You need to write to your congressman and Senator today. Just because the election is over, it doesn’t mean your responsibility is done.


1 comment:

  1. I didn't vote for choking out the shrinking Middle Class. All we heard again was how Small Business is the employment engine of our economy. The Middle Class is Small business. And then this comes up as a "good start".

    A real "good start" would be to drop Upper Class tax welfare, let them fend for themselves or get out. That's a free market.