"Inequality For All" - Robert Reich

I joined Netflix not long ago and like documentaries. I watched one tonight called "Inequality For All", the man who it was about is named Robert Reich and he was the Secretary of Labor. He worked under both Republican and Democratic Presidents. The man now teaches at UC Berkley. I 100% sincerely recommend this film to everyone who reads this post. It explains better than I have how we have gotten where we are. He misses out on bringing up some issues; but, he goes through a lot of things and films can only be so long.

He talks about how big money influences government; but, he failed to go through some of the most important changes in the law that your federal government made the and caused the loss of jobs in the United States. Why do we give tax breaks to companies in the United States that create jobs overseas and take them away from this country?  Why do we give tax breaks to people who renounce citizenship after they have made their money is this country? I am not concerned about the money they make in foreign countries, only the money they make from this country. From profits they made from owning stock in American companies.

The tax code is the key to fixing America. People do what benefits them. We need to eliminate all tax deductions and set a flat tax rate, the same percentage regardless of how much someone makes. Pay as you benefit. There was a time when we had a progressive tax, the wealthiest could pay up to 90% in taxes, I am against that. That is why the paid so much to lobbyists to call for tax deductions. The problem is that every pendulum swings back and they swung back; but, fairness was never reached.

I want you to think about this. Multimillionaire Mitt Romney complained that taxes were too high; but, he only paid about 13% on his income. I am practically broke and paid 30%. You see, if you get divorced and the government makes you pay alimony, you still get taxed at the higher rate. You get a deduction for alimony; but, your ex pays taxes on that alimony. The deduction is often not equal to the higher tax rate that you pay. My wages are garnished, it is not a discretionary expense and goes straight to her, I should not pay at the higher rate, I never got the money.

Lets try this. You get a deduction for your mortgage and insurance on your house which causes houses to cost more than renting. If you own apartments you get to deduct for repairs, if you own a home, you do not get to deduct for repairs. The mortgage and insurance deduction is actually causing your home mortgage to be more, it is not benefitting you.

Consider this and unfinished post.