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A part of the interview was just shown on CNBC.
The guy says if the super rich (not defined as far as income)
paid a one time 15% tax, it would cut the national debt in half.
A part of the interview was just shown on CNBC.
The guy says if the super rich (not defined as far as income)
paid a one time 15% tax, it would cut the national debt in half.
A part of the interview was just shown on CNBC.
The guy says if the super rich (not defined as far as income)
paid a one time 15% tax, it would cut the national debt in half.
That, my friend, will NEVER happen.
The "super rich" are also generally super-smart (or are surrounded by super-smart financial advisers). If that crazy idea ever became a proposed law or tax bill, those people would have their assets spread so far around the world you'd never be able to send them a tax bill.
I watched part of it. I'm no where near being rich, so I usually support the richest people in America being taxed at a higher rate to supplement the low and middle class. But that idea is just dumb. Your telling me a person that a person that makes 1 million a year has to pay an additional 150k? Or a billion 150 million? Not only is that unfair but it would make our economy faulter even more. You think someone is going to spend as lavishly as they normally do missing 15% of their pay?
I watched part of it. I'm no where near being rich, so I usually support the richest people in America being taxed at a higher rate to supplement the low and middle class. But that idea is just dumb. Your telling me a person that a person that makes 1 million a year has to pay an additional 150k? Or a billion 150 million? Not only is that unfair but it would make our economy faulter even more. You think someone is going to spend as lavishly as they normally do missing 15% of their pay?
I watched part of it. I'm no where near being rich, so I usually support the richest people in America being taxed at a higher rate to supplement the low and middle class. But that idea is just dumb. Your telling me a person that a person that makes 1 million a year has to pay an additional 150k? Or a billion 150 million? Not only is that unfair but it would make our economy faulter even more. You think someone is going to spend as lavishly as they normally do missing 15% of their pay?
hahaha. so true. it's ridiculous. i am a believer of the progressive tax code, but this idea is just absurd.
we ALL played a part in allowing politicians to continue to spend without raising the revenue. we create the atmosphere of spend on my district, but complain when there's "waste" in government. there's no ONE group of people who need to pony up. we all do.
the bottom line is - we either need to reduce spending (services the government provides) dramatically, raise taxes, or...most likely scenario, a combination of both.
as for the last sentence of this post though...when someone makes $1,000,000, paying an extra tax of $150,000, yeah - i think they will spend as lavishly...maybe more true forpeople who make beyond that, but you get the point.
Your telling me a person that a person that makes 1 million a year has to pay an additional 150k? You think someone is going to spend as lavishly as they normally do missing 15% of their pay?
the guy's idea was a "one time tax".
Someone making $1 million a year, would pay a one time tax of 15%.
He was stressing the "magnitude" of just how "financially powerful the super rich are". A one time 15% tax would cut the entire national debt in half....!!!
That is a lot of money being made by a small % of the population.
That would help the country because the national debt is a serious issue.
If I had been making a million and will keep making a million, I'd be willing to pay the one time tax, as long as all others in my income range did so too.
Fair, or not fair, for me to pay it, and someone making $250K not pay it, would not bother me. I would not think of it as fair or not fair, because in the long term picture for me, a millionaire, missing $150,000 out of the next $10 million I'd make, or the $10 million I made that last 10 years, it would be insignificant.
Some low income persons pay no tax. There are people in higher income levels that do not like the people who pay no tax. No one is going to like everything or everybody.
I'm not voting today. If I could vote FOR the 15% one time tax on people over a certain income level, or "net worth", I'd go vote. Otherwise, glancing through the grocery store ad is worth more to me than going to vote today. No one wins by one vote. The last hero I voted for was Hubert Humphrey. And proud to have voted for him, and PROUD that I have voted since then, and never will. It is not worth my time and gas to go vote.
the guy's idea was a "one time tax".
Someone making $1 million a year, would pay a one time tax of 15%.
He was stressing the "magnitude" of just how "financially powerful the super rich are". A one time 15% tax would cut the entire national debt in half....!!!
That is a lot of money being made by a small % of the population.
That would help the country because the national debt is a serious issue.
If I had been making a million and will keep making a million, I'd be willing to pay the one time tax, as long as all others in my income range did so too.
Fair, or not fair, for me to pay it, and someone making $250K not pay it, would not bother me. I would not think of it as fair or not fair, because in the long term picture for me, a millionaire, missing $150,000 out of the next $10 million I'd make, or the $10 million I made that last 10 years, it would be insignificant.
Some low income persons pay no tax. There are people in higher income levels that do not like the people who pay no tax. No one is going to like everything or everybody.
I'm not voting today. If I could vote FOR the 15% one time tax on people over a certain income level, or "net worth", I'd go vote. Otherwise, glancing through the grocery store ad is worth more to me than going to vote today. No one wins by one vote. The last hero I voted for was Hubert Humphrey. And proud to have voted for him, and PROUD that I have voted since then, and never will. It is not worth my time and gas to go vote.
I understand it is a 1 time tax, and these people quite possibly might be making X amount of dollars for the rest of their lives. Lets forget about the 'is it fair' issue all together. Do you not think that our economy will be affected at all? Sure the rich will still be rich. But they might not purchase that Rolex, go on that Hawaii vacation, or spend half as much in Vegas. Yes most of the money in our economy is in the upper class, where do you think a lot of the spending is?
Also on another note, alot of the super rich are business people, I guarantee jobs would suffer as well.
Im all about cutting the national debt. But you have to remember when we raise taxes, government cuts spending, or whatever the economy will grow at a slower rate since all that cash isnt moving around. Its a damned if you do damned if you dont thing. Our government needs to get creative on how we are going to cut the debt and grow our economy. We need to be investing in new technologies so America can set the standard once again.
Whats coming is a VAT tax. The Right wing will be the one to propose it first. If structured correctly , the poor will not be hurt by it. I see this as the only way for the republicans to back out of their tax and spend talking points. National health care will not go away , it will only get more refined, and to pay for it , along with reducing the debt, look for the Righties to propose some form of a VAT. They won't call it that , but , that is whats coming, and soon.
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