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The hyper wealthy own most of this country and its economy. Let them pay for maintaining our oil empire. The basic income tax deduction should be equal to the 90th percentile of income when all income from all sources is counted. Those in the top 10% should pay the entire bill using a steeply graduated income tax without any loopholes or special exemptions.
Providing tax exemptions and cuts for the wealthy just concentrates to money in the top percentiles without creating, in fact reducing, jobs in this economy.
"Loopholes"???
What "loopholes"???
If you mean deductions, what ones do you object too??
The hyper wealthy own most of this country and its economy. Let them pay for maintaining our oil empire. The basic income tax deduction should be equal to the 90th percentile of income when all income from all sources is counted. Those in the top 10% should pay the entire bill using a steeply graduated income tax without any loopholes or special exemptions.
Providing tax exemptions and cuts for the wealthy just concentrates to money in the top percentiles without creating, in fact reducing, jobs in this economy.
Congratulations. You are the first person who ever answered my question, and you didn't know I was asking it.
Of all income taxes paid, the top 10% of earners now pay 70% of the dollars collected. (That top 10% earns just under 50% of all income.)
I have asked, if 70% is not the right amount for the top 10% to pay, what is? 80%, 90%, 100%? Your answer: 100%. I think you are as wrong as you can be, but I credit your honesty.
I believe we tend to get paid what we are worth, and that is a reflection of our value to the rest of society. The neurosurgeon with decades of study and skill development is quite valuable. The recent high school dropout, not so much. Nobody should freeze to death or starve to death, and a proportionate income tax is fine--but your tax scheme is a plan that will have a lot of us eating grass and tree bark in a few short years.
No kidding, not to mention the complete failure of reganomics. "trickle down" and giving benefits to the wealthiest of americans does nothing but line their pockets.
None as blind as those who refuse to see. Here is your cane, and your tin cup. The pencils are on your, and watch out for that, well watch out for everything, Mr. Blinkman.
Last edited by navyapproved; 07-26-2010 at 10:10 AM..
conc1
after the work is done in a week what does the worker do then?Warren Buffet brags that he stil llives in the same house for the last 30 years and spends just enough for upkeep.
Good ol' Buffet. He lives in his old house and can afford the upkeep. The rest of the population live in new houses that are being foreclosed, or in old houses that are falling apart because they can't afford the upkeep. (Wait until we have to retrofit all our houses, new and old, to be energy compliant.)
All in all, I don't understand the fixation on the part of some to make the "rich" pay for everything. As if they owed it to the rest of the folk. They don't owe it and we're not enititled to it. They earned it - by hook, by crook, by inheritance, by taking risks, and by working smart. They should pay a fair share (percentage wise) just as we all -- all -- should pay our fair share. I'm all for a flat tax on everybody.
In this economy, it might be that job creation as a result of tax cuts may not be as robust as it has been in the past, but that's due more to the uncertainties of this economy, domestic and global, and uncertainty about what scheme Obama will think up next.
I'm pleased that some democrats are joining the ranks of those who support extending the tax cuts. I hope those numbers keep growing.
So what? Do you realize that the U.S. wealth distribution today, is the same as it was in the late '20s? What happened in 1929? That Depression hurt everybody, including the millionaires.
Any idea what it is like in, say Mexico? Wealth is distributed on the basis of earning. Those that don't have wealth, don't have it simply because they haven't earned it. If they want it, do what everyone else has to do and earn it. I know, tough thing for liberals to understand. To them "earn" is a four-letter word, in more ways than one.
Warren Buffet brags that he stil llives in the same house for the last 30 years and spends just enough for upkeep.
Good ol' Warren Buffett... Wonder why he doesn't put his money where his mouth is and pay all that extra wealth he claims he doesn't need to the U.S. Government?
Good ol' Warren Buffett... Wonder why he doesn't put his money where his mouth is and pay all that extra wealth he claims he doesn't need to the U.S. Government?
I'm trying to figure this out. Are you saying Buffet has indicated d he'd give all his extra money to the government but hasn't, or are you saying Buffet doesn't have extra wealth he claims to have?
No, you're wrong. There is a btter way to approach this.
Give the tax breaks to the wealthy only AFTER they create the jobs, and rescind them if the jobs disappear.
Put it on a performance basis and things will happen to create jobs.
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