Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
the question is why do we tax the s$# out of people who are trying to BUILD wealth, so we can ensure that the people who HAVE wealth stay wealthy? Explain that one to me.
The top income earners pay the most. They're the ones we're taxing the s$# out of. Consequently, they have less money to hire employees or spend into the economy.
The problem is that our governments (federal, state, local) have grown way too large, requiring them to tax way too much, which causes economic decline.
In what ways should the rich and corporate america contribute?
Stop letting them contribute to getting people elected...Then maybe the elected officials would actually do the work for the people. Instead of doing the work for the donors.
Fearmongering. Printing money from the press to fund the government is already an incentive for you to keep your money and assets in foreign banks. And yet, and yet, the US hasn't collapsed yet.
People don't, because the United States has free markets and rule of law. Go to Japan ...... see ya!
So you would be OK with the top 10% (who already pay 92% of federal taxes) pulling their taxable money out of the US economy and infusing it into the Japanese?
What is your plan for the country functioning on 8% of its current federal tax revenue?
Most scholars agree that wealth inequality in the United States is at historic highs, with some estimates suggesting that the top 1% of Americans hold nearly 50% of the wealth, topping even the levels seen just before the Great Depression in the 1920’s (Davies, Sandstrom, Shorrocks, & Wolff, 2009; Keister, 2000; Wolff, 2002).
Quote:
You really want to go there? Fine. Let's look at the total effective federal tax rates paid by each income group, again, using the most recent data available:
Total effective federal tax rates by income level (latest available data from the CBO):
Top 1%: 31.2%
The link you gave me was broken...... But taking you at your word, it still doesn't even help your argument. As I suspected, their total share of tax revenue is even lower than their share of federal income tax, which you put at 38%. Not that it matters anyway, this is pre-recession data.
So you would be OK with the top 10% (who already pay 92% of federal taxes) pulling their taxable money out of the US economy and infusing it into the Japanese?
You'll have to show me your source where the top 10% pay 92% of federal taxes. It's hard to take people seriously when they pull numbers out of the sky without posting a link to a source so I can see whether or not it is what you say it is.
but your question is moot, i don't expect them to pull their money out and give it to the japanese. you're making a wild assumption.
Exactly, and instead of the top income earners paying the most, we need to have the wealthiest pay the most.
Quote:
The problem is that our governments (federal, state, local) have grown way too large, requiring them to tax way too much, which causes economic decline.
Tax more; destroy 110% more of the economy. Why do you advocate such destruction?
I don't agree with such a simplistic measure of the effectiveness of government spending, but nonetheless, I didn't advocate taxing MORE. In fact I clearly stated that my idea is revenue neutral.
Most scholars agree that wealth inequality in the United States is at historic highs, with some estimates suggesting that the top 1% of Americans hold nearly 50% of the wealth, topping even the levels seen just before the Great Depression in the 1920’s (Davies, Sandstrom, Shorrocks, & Wolff, 2009; Keister, 2000; Wolff, 2002).
That author isn't being truthful in their claims. Wolff's data actually indicates a decline in the top 1%'s share of the wealth since 1995: Who Rules America: Wealth, Income, and Power
Do the richest 1% of the population use 1% of the federal governments resources?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
