WHAT IS TO BE DONE?

No one is going to sing Kumbaya for someone earning $200,000, $400,000, $600,000 a year, but that doesn’t mean you lay down and accept the pummeling.  Before I get to an action plan, I’m going to sum up the “Crushing of the Upper-Middle Class” (UMC) to fire you up.  Political policy over the decades has led to a redistribution of wealth in the middle class, taking from those who make $250,000 a year and giving to those who make $150,000, and taking from those who make $400,000 a year and giving to those who make $50,000.  This pancaking of the middle classes has largely left the two extremes, the poor and the very wealthy, untouched.  Furthermore, the flattening has occurred in a stealthy and complex way, 1 and through so many different tax, revenue, and rejiggering schemes that it’s hard to place the blame on a single source.  Why is so much pain targeted towards and incurred by a specific economic segment?

Well, if we learned anything from the 2012 presidential election, Continue reading

  1. Just think of the tax policymakers surrounding George W. who were fully cognizant that the highly touted reduction to the dividend and l-t capital gain down to 15% wouldn’t hold true for the UMC after they were put through the AMT.  For revenue neutral reasons, they opted not to put through a patch, thus delivering a screwing to a particular group []