Second Presidential Debate

[UGAalum94]

Originally Posted by AGDee

When I read that Medicaid and SCHIP will be extended to cover more families, I interpret it as "Those who cannot afford to pay for other insurance will be eligible for Medicaid or SCHIP"

ETA: Regarding income. According to this site: http://en.wikipedia.org/wiki/Househo..._United_States (yeah, I know, it's Wikipedia, but it's source is 2005 Census data) the number of households in the USA that make $250,000 or more is 1.5% 15% make more than $100K a year. It's pretty hard to argue that if you're in the top 1.5% of earners, you're not considered wealthy. I realize there are the Bill Gates' of the world who are unbelievably filthy stinking rich, but that's a major outlier when figuring out these statistics.

ETA Again: Just saw that clip that preciousjeni linked to above on CNN and yes, I am very glad that McCain told the truth there. He definitely did the right thing there.

Well, except that wealth may be different than having a high earned income for a short number of years.

I like to think that if we earned 250,000 or more, my husband and I would accumulate real wealth, but I think it would take a while. (First get out of debt. . .)

I think the issue is that, especially in household with two earners, if you are in the first generation of people to earn at that level in your family, you just have high income compared with other earners.

Compare your idea of two professionals earning 125,000+ who didn't inherit any wealth or assets with a person who owns a million dollar home with no mortgage who lives on a retirement income of 100,000 dollars a year.

Who is richer? (For that matter, who is richer: John McCain married to Cindy or the Obama's pre-book deal? Looking at income only tells one story.)

Any tax based on income ignores this difference in accumulated wealth.

[PeppyGPhiB]

Originally Posted by AGDee

And, since we have so many threads about this election, I don't know where this one should go, but I'm disgusted by the news about ACORN:
http://www.cnn.com/2008/POLITICS/10/...ref=newssearch

More than 2,000 voter registration forms filed in northern Indiana's Lake County by a liberal activist group this week have turned out to be bogus, election officials said Thursday.

That is very unfortunate, as is this:

New York election mixup: 'Osama' on ballot
http://www.msnbc.msn.com/id/27122742/

[UGAalum94]

Originally Posted by PeppyGPhiB

That is very unfortunate, as is this:

New York election mixup: 'Osama' on ballot
http://www.msnbc.msn.com/id/27122742/

It's just weird when you think about how many people probably looked at that ballot before it got printed or mailed out. How could that happen?

[epchick]

Originally Posted by preciousjeni

Has anyone on GC been talking about McCain's comments at the rally? I know he kinda had to calm folks down for the sake of his campaign, but I honestly appreciate that he was decent enough to do it in such a strong way.

http://www.youtube.com/watch?v=Kf6YKOkfFsE

As I've said before, I have alot of respect for McCain and I think he really is a good guy.

Did that lady say that Obama was an Arab? Geez, i'm glad McCain seemed disgusted at her comment.

I do think he's a stand-up guy, and i'm glad he's taking a more postive turn.

[AGDee]

Originally Posted by UGAalum94

Well, except that wealth may be different than having a high earned income for a short number of years.

I like to think that if we earned 250,000 or more, my husband and I would accumulate real wealth, but I think it would take a while. (First get out of debt. . .)

Who is richer? (For that matter, who is richer: John McCain married to Cindy or the Obama's pre-book deal? Looking at income only tells one story.)

Any tax based on income ignores this difference in accumulated wealth.

That's very true. I'm ALL FOR taxing us on our net worth since I still owe more on my house than all of my assets put together My net worth is negative.

I guess we also have to consider that there are people who have essentially no income but lots of assets.

[UGAalum94]

Originally Posted by AGDee

That's very true. I'm ALL FOR taxing us on our net worth since I still owe more on my house than all of my assets put together My net worth is negative.

I guess we also have to consider that there are people who have essentially no income but lots of assets.

I have complicated feelings about if and how we ought to tax actual wealth, but focusing on income isn't really the whole picture.