Starve the Beast- Chris Christie now has to face-Must Read (home, buying)

[MikeCPA]

As an independent, a CPA, who happens to dislike many politicians of both parties, I'm happy that the Star Ledger addressed this today.

Finally, someone in the NJ Star Ledger today addressed an issue that many CPA's have always privately discussed. ( since many of us CPA's would rather not get into politics) Kudos Paul Mulshine.

This is one issue that MILLIONS of its base of loyal voters have NEVER bothered to understand or comprehend. It has been the Most Effective way to con millions of its base to keep voting for them because of two words, " TAX CUTS"

It is also the MAJOR cause of the DEFICIT that the United States faces today.

Chris Christie won using the same Starve the Beast campaign in order to win. Now he faces reality. He may have to do a George W. Bush in terms of Tax cuts, program cuts, and raising taxes.

For the last 30 years, prominent political analyst & Republican politicians would PRIVATELY called it - "STARVE THE BEAST".

Among us CPA's,- when we hear a Republican Politician " Promise voters Tax Cuts if they win- (the only effective GOP pitch for the last 30 years) - We always privately to it as " Tax Cuts now, Let's just throw it into Deficits- no one's going to notice".

Reagan, Bush Sr. & especially Bush jr were the biggest culprit.

Of course today, since a Democrat became President- The republicans have temporarily put on a NEW FACE AFTER 30 years! They now care about DEFICITS. Its the New GOP Slogan. " We have to reduce Deficits, but we'll still cut your taxes" huh??????? how ???????


Must Read today. Link Below.

basically, the republicans & he democrats are one & the same.

One wants to create or fund programs without care for deficits. The other wants to just keep giving irresponsible Tax cuts year after year without care for the deficit. One wants to preserve programs for lower income & middle income citizens. While the other wants to Cut Every program for lower & middle income citizens.

With 71% of american voters having No college degree to show, the "promise of Tax Cuts" are one of the Easiest & Most Effective ways to Con people to vote for a politician. Very few ever ask how in this day & age, with rising costs, a graying of a population, a massive loss of a job base, massive health care cost problems- that a political party can keep promising a Tax Cut. No one wants to ask- Where will you get the money to millions of us a tax cut???

With out economy is a depressed state & many more americans finally understanding the implications of Irresponsible Tax cuts- the pitch of Tax cut is slowly being understood by many

The beast that ate the GOP: Republicans here in N.J. share the blame for creating the deficits they decry | Paul Mulshine - NJ.com

[MichelleCFP]

good post & great article by Mulshine.

In fairness- Many Americans & thousands of Jerseyans with yearly household incomes of $200K plus has always understandly kept ours lips sealed when a Republican gives tax cuts. Its hard to blame them one for complaining when the tax cut would benefit one's family. But I do understand how the "reckless" tax cuts has hurt the overall US economy over the 3 decades.

Its the majority of americans who make $150K or less who often almost never benefit from Republican tax cuts.

As my husband often preaches in his practice, there is a struggle going on here in terms of economic households. Its been going on for the last 3 decades.

Obama & the democrats highlights this struggle up front. But its been going on for 3 decades.

Obama & the democrats gave Tax Cuts to people making $ 150K & below. While W. Bush gave Two Huge Tax cuts during his 8 years. Both Tax cuts went to the $175K & higher household.

Its a class struggle agenda between two parties.

What's the Caveat? There are only about 5% to 7% of US households of make over $200K yearly.
So what does that mean? Even if the entire 7% vote for the Republican Party every year, they would not win a single election. ( and we know that the 7% is not even close since about 85% of Jewish voters who make $200K & above are solid democratic blocks of voters plus majority of wealthy Asian- american business owners also vote with the democrats).

So you have about 93% of americans who have rarely benefit from Republican Tax cuts.

But in order for the Reps to win, they need much more than 7% of voters to support them.

Thus, enter Emotionally charged, Divisive yet effective issues. Guns, Gay Marriage, Tax & Spend Liberal, Abortion.

It has & will be the only way to ever counter, cloud, hide the economic reality on Tax cuts.
If the political decorum every year is about who gets a tax cut & who doesn't, the democrats would probably win every time. ( since 90% of americans do not make $175K or above. )

But in the last 3 decades, the Republican political gurus have effectively carved enough people making $ 150K below to somehow think or believe that they are part of the wealthy class of americans. But in reality, in terms of 2009 money, they are middle income, W-2 employees who are struggling to keep up with inflation. Therefore, the GOP tax cuts has never & will never benefit them.

Disclosure: Of course for some, issues like abortion , Gays or possibly immigration are just as or more important to them than just financial.

But lets get the cat out of the bag. Financially speaking, your Income & Assets don't lie. You either benefit from Democrats or from Republicans. Now many here in Jersey falsely or intentionally make themselves believe that they are part of the wealthy- when they are not. Living in a nice suburban town, driving a Escalade, a Benz, a BMW does NOT make you wealthy.
In fact, from a Financial planning standpoint, it has made millions of middle income people poorer because of false lifestyles.

As the bestseller book by Prof. Stanley states.

" Stop Acting Rich" !!!

There is a BIG BIG difference between the 7% who are really rich & the 40% of americans who are confused & keep acting Rich when they are one job, one serious health issue away from being in HUGE trouble. These are the people who keep believing that the Tax cuts for the Rich includes them.




So

[MichelleCFP]

Something to think about.

A study conducted in 2007 had this:

Americans who own a Yacht/Boat outnumber a Senior Citizen who passes away with at least $ 1.5 million dollars in his/her estate for their heirs by 5 to 1 !!!!

In other words, there are many more americans who would rather buy the Toy today, a yacht or an expensive car but who would have VERY Little for retirement and/or wealth for their children or grandchildren.

This is the mentality that differenciates your average american versus Europeans, Japanese & Australians. There are millions of americans who have NO BUSINESS driving a BMW, a Benz or living in buying a $600K home or a $ 1 million dollar home.

Most are relying on a W-2 $100K paycheck that can disappear tomorrow with very little reserves to protect them if they cannot find similar employment.

Voting for one politician who protects the rich does not make you rich. You make yourself rich, not a political party or politician. You may feel good, but it make hurting you unless of course- you truly are making the big bucks. Then that's a different story.

[CYBERSPACE]

i suspect you guys are directly hitting a lot of nerves here. Some will be in denial but some will immediately realize that you may be talking about them or family/friends that they know.

there will be millions of seniors who will have to work until they either die or are disabled because of a lack of foresight or preparation for retirement.

[Viralmd]

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