Your Opinion: Tax favors wealthy
Thursday, January 31, 2013
My memory is not perfect, but as I remember it, the middle class, of which I am a part, did not become poorer until corporate CEOs began demanding huge salaries and bonuses. Corporations have been shipping jobs out of the U.S. for years. Consumers do not get charged less because the cost of production is lower, but the “company” and its officers can make more money for themselves and their stockholders. Still they want more.
Missouri seniors have paid our income tax all of our working lives. But, now the wealthy want to get rid of the income tax and implement a “consumption” tax. This Fair Tax would really hurt the elderly and retirees living on fixed incomes. And now that seniors and retirees do not have the income they once did, proponents of the Fair Tax want to change the rules.
Many low-income individuals do not have to pay income tax because they do not have enough income. The only people that would benefit from a consumption tax would be the wealthy because everyone has to purchase food, shelter, clothing, health care, transportation, etc. Those necessities would consume a much higher percentage of the income of middle and low income individuals. And what about nursing home care? There could be many more seniors going into nursing homes under the Medicaid program if the things they need become unaffordable.
Our politicians, most of whom are financially more secure than the average citizen, want us to believe that a consumption tax would bring more jobs to our state, or that if we do not go to a consumption tax, a neighboring state will get all of our jobs. The little girl on TV has been hired to tell us that! (Isn’t she cute.) However, I believe that people will be purchasing more in Missouri because we do not have the high sales tax that will be imposed on purchasers in our neighboring state.
It is my opinion that if CEOs want to ship their businesses to another state, they are not really interested in what is good for Missourians.
They are only concerned with their own pursuit of wealth.