The end of the American Dream
President Barack Obama’s administration and the Democrat Party in Congress have guaranteed the end of the American Dream in the United States. This dream in the 1800s was that anyone, no matter their financial situation could achieve wealth in business. The dream has been mutated to mean financial equality for everyone. This equality applies now to the middle and lower classes.
With the advent of Obama Care and the most recent showdown over the Continuing Resolution and the debt ceiling, the policies being proposed by the President and Senate Majority Leader Harry Reid will guarantee that no one in the middle class will move into the wealthy class.
The mandate on employers to provide health insurance for their full time employees will guarantee that small businesses will remain small. Full time has been redefined from 40 hours to 30 hours per week. This mandate also applies to employers with 50 or more employees. Now employers will move to cut full time employees to part time to avoid paying the approximately $6 thousand per employee insurance premium. Growing businesses will not hire more than 49 employees to avoid paying the premiums as well. This stifles small business growth and limits them from expanding their businesses.
The tax increases that came down the pike this time last year
with the expiration of the Bush Era tax cuts are another factor that will keep people in the middle class. According to the proposal, tax rates have gone up for all earners making more than $200 thousand per year. People in the middle class will avoid earning this much income to keep from moving into the higher tax bracket. The highest income tax bracket is 39.6%. The corporate tax rate is 20%. The estate “death” tax increased to 45% on estates with $3.5 million or more in assets. These tax rates will be devastating to small businesses, especially those who were to be passed down to future generations.
In conclusion the Progressive elite have assured that they will remain the elite and keep the middle class “in its place” with these two policies alone. People must hold their congressmen accountable if they vote on policies that kill the American Dream. We also must support our state legislatures as they work to nullify Obama Care. When the people re-elected Obama as president and did not elect a Republican majority in the Senate, they put a spade in the ground to dig the grave for the True American Dream.