The Insanity Of Capital Gains Tax Breaks...

[radical noodle]

33. Here's the thing

Middle-class folks who are retired will always have approximately the same income no matter what. As their income remains stagnant, prices and costs increase, sometimes exponentially. The older one gets, the more expenses there are. Risky investments that pay more are ill advised for those who are older, health insurance supplementals and drug costs skyrocket as we age, even with Medicare. Our property and real estate taxes raise every year. Interest income at a bank is non-existent. Couples worry about one of them perhaps being confined to a nursing home for many years, an expensive proposition.

We did all the "right" things. We saved. We did without things others had. We helped our daughters get through school, so they could make their own way in the world. We still help them sometimes when they need it.

Still, we pay about $6000 out of our meager income for taxes. I never begrudged paying taxes. I never took weird deductions. I always paid on time. I was happy to pay when I was working and could afford it.

Our 19 trillion dollar party was largely the celebration of Republicans who spent like madmen on the military. I don't want to run up more debt at all, but let's get the money from those who have boatloads of it to spare because they have so many loopholes that they don't pay as much as I do.