[Rich Lee]

Gap between rich, poor Americans accelerates - MSN Money

Connecticut's factor between lowest 20 percent and highest 20 percent is 8.

[reason180]

The NY Times did an interesting article about that yesterday:

http://www.nytimes.com/2008/04/09/ny...yt&oref=slogin

State Senator William H. Nickerson, a Greenwich Republican, said that closing the income and education gaps in Connecticut is a critical issue, but he rejected the idea that raising taxes on the wealthy is a solution.

Mr. Nickerson said that the 70,000 Connecticut households with the highest incomes now pay as much in state income tax as the other 95 percent of the state’s households. “It’s an immensely top-heavy tax,” he said, adding that increasing taxes on the rich simply “won’t remedy the problem.”

Don't you feel bad for those top earners in Greenwich?

Higher taxes for them will mean that Eric Clapton can only play for 60 minutes instead of 90 minutes at their private party.

Everyone knows they play tax games and move their income to the Cayman Islands so they pay much less in taxes then they should be paying.

[flavorPacket]

Don't be ignorant.

The federal tax code considers a person who makes 350K/year and eric clapton to be the same (I'll leave out the AMT for argument's sake). Anyone who thinks an income of 350K in southern Fairfield County is 'rich' is seriously out of touch. Not everyone who's in the highest tax bracket has private parties with rock stars and houses in the Hamptons. Hell, most of these folks will be dropping 100-110K a year on college for 2 kids, because there's no way they'll get financial aid.

Raising taxes on the rich only puts more strain on people like this. Sure, they may be "rich" by some definition, but they do not have disposable income in the same way that billionaires like Eddie Lampert do.

Furthermore, when more than 50% of your earnings are taken and given to someone else, maybe you will change your tune. I'd be very surprised if, in a similar financial situation, you didn't try to keep your earnings for yourself.

[Rich Lee]

Originally Posted by flavorPacket

Furthermore, when more than 50 percent of your earnings are taken and given to someone else, maybe you will change your tune. I'd be very surprised if, in a similar financial situation, you didn't try to keep your earnings for yourself.

Often, they're not "given" to other people. These dollars are used by the Federal Government, sometimes for programs that don't benefit U.S. citizens - like aid to foreign nations, the war in Iraq, etc.

It's not easy coming up with $1 trillion over 5 years for just one cause.

[skytrekker]

Good stuff Rich, and its sad that this kind of economic disparity exists-not only in Connecticut, but nationally.

[kidyankee784]

Originally Posted by Rich Lee

Often, they're not "given" to other people. These dollars are used by the Federal Government, sometimes for programs that don't benefit U.S. citizens - like aid to foreign nations, the war in Iraq, etc.

It's not easy coming up with $1 trillion over 5 years for just one cause.

Good point.

The income disparity is visible just driving around the state; when crossing from Bridgeport to Fairfield, New Haven to Woodbridge, etc.

[flavorPacket]

Originally Posted by Rich Lee

Often, they're not "given" to other people. These dollars are used by the Federal Government, sometimes for programs that don't benefit U.S. citizens - like aid to foreign nations, the war in Iraq, etc.

It's not easy coming up with $1 trillion over 5 years for just one cause.

really? Is that why hundreds of people bought Louis Vuitton bags with federal-govt provided debit cards after Katrina? Is that why my aunt's neighbor bought a BMW X5 with her goverment-provided housing alllowance?

I call it how I see it.

Yes, everyone pays for the the federal government to function. But the people who pay the majority of the taxes get less benefits (educational financial aid, medicare, the upcoming economic 'stimulus') and still get ripped on by the people whose lives they pay for.

[skytrekker]

Originally Posted by flavorPacket

really? Is that why hundreds of people bought Louis Vuitton bags with federal-govt provided debit cards after Katrina? Is that why my aunt's neighbor bought a BMW X5 with her goverment-provided housing alllowance?

I call it how I see it.

Yes, everyone pays for the the federal government to function. But the people who pay the majority of the taxes get less benefits (educational financial aid, medicare, the upcoming economic 'stimulus') and still get ripped on by the people whose lives they pay for.

Is that why the Federal reserve has to bail out greedy wall street bankers?
Before I would judge anyone in this state- lets try and put under a microscope why Michigan has the worse economy in the nation.

Is this why green card residents of married military/dependents personnel get free health care and drugs for nothing? While tax payers like me and my parents pay through the nose-please.

[flavorPacket]

Originally Posted by skytrekker

its sad that this kind of economic disparity exists-not only in Connecticut, but nationally.

why? this is how society has worked for thousands of years.

People tried to do it differently, and you can see how that turned out: just go and visit the great nations of Vietnam, North Korea, etc.

The issue is not that some people are much richer than others. The problem is that people think they can't be happy because not having money prevents them from doing things. This is a disease of the mind. We live in one of the richest countries in the world. Yes, even the bottom 5% making 20K a year.

The 'poor' in this country still live lives of ridiculous comfort compared to most other nations, and they sure have a lot of nerve to complain about it. Being American is not a guarantee of happiness or wealth, but it sure as hell gives you a good chance to achieve these things.

[skytrekker]

Originally Posted by flavorPacket

why? this is how society has worked for thousands of years.

People tried to do it differently, and you can see how that turned out: just go and visit the great nations of Vietnam, North Korea, etc.

The issue is not that some people are much richer than others. The problem is that people think they can't be happy because not having money prevents them from doing things. This is a disease of the mind. We live in one of the richest countries in the world. Yes, even the bottom 5% making 20K a year.

The 'poor' in this country still live lives of ridiculous comfort compared to most other nations, and they sure have a lot of nerve to complain about it. Being American is not a guarantee of happiness or wealth, but it sure as hell gives you a good chance to achieve these things.

Why in Connecticut? Again why?