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It isnt about millionairs suffering under heavy tax burdens.
it is about what is best for the economy. These millionairs understand that they work hard and are rewarded for it. When these people work hard, many other people have jobs and live nice lives. When these people relize that working hard will not benifit them, they simply wont work as hard.
Guess what that means for the middle class people who depend on these rich people working hard? it aint good.
Go forth and learn the Laffer curve.
Most people work hard at their jobs. Some, like police, fire, and military, work hard AND risk their lives. Are any of them millionaires?
Also, this idea that only rich people create jobs is crazy, and to say that them having to pay 20-25% tax rate on their INCOME is going to elimate their job creation is equally stupid.
I have never understood middle class folks who feel like they need to rush in to defend the wealthy as if they are wealthy themselves. People who do nothing but believe in things that go against their best interests are just baffling.
Most people work hard at their jobs. Some, like police, fire, and military, work hard AND risk their lives. Are any of them millionaires?
Policemen, firemen, and teachers frequently have pensions worth multiple millions. The military isn't quite so lucky dependent as they are on federal taxes. The former relies on local and property taxes which skyrocket every year to pay for those ultra lavish bennies.
Arguably, the rich don't have to have any income, they have enough as it is, at least at that time period. They can pay their bills, they don't NEED to invest to have an income. The middle class NEEDS to work to pay their bills, they will work no matter what the tax rate is.
You're darned right this is arguable. You are making assumptions on top of assumptions. Many investors do live off of the returns from their investments and could not live indefinitely on their savings.
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Also, those who work do not create jobs for others. Those who invest do.
Investors create jobs for workers, and workers work to generate revenue for investors. As I said before, they mutually benefit each other and neither is more special than the other.
Policemen, firemen, and teachers frequently have pensions worth multiple millions. The military isn't quite so lucky dependent as they are on federal taxes. The former relies on local and property taxes which skyrocket every year to pay for those ultra lavish bennies.
The ones bearing the worst burden of our obscenely overgrown and corrupt government are the professional working class, typically dual-income couples in our peak earning years. We are not rich by any means. We do not take lavish vacations--in fact we rarely get to take vacation at all, since we are the new slave class that must work 80 hours a week to minimize labor costs for our Big Business corporate employers. Despite our nice titles and total responsibility for the operation of our profit centers, we don't get paid nearly as much as you would think. And taxes confiscate a huge portion of that, since we are allowed virtually no deductions--government thinks we are "rich," although our vestec pensions were voided by a Robber-Baron corporate CEO decades ago and our savings are constantly being devalue thanks to the Fed. And of course interest rates remain zero, and "investments" are lucky not to lose principle, especially after all the fees.
Cost of living in any area within driving distance of an employment center is beyond belief. Property taxes similarly will be as high as possible--after all, government has tons of employees and "programs" that never stop demanding more money.
It is truly sad that a married truck driver or salesmen with a stay-at-home wife in my parent's time managed to be so much more financially successful than two working professionals with Master's Degrees, incredible work ethics, and 100% dedication to their careers is today. Our entire generation has been sabotaged, bankrupted, and destroyed by the collusion of Big Government and Big Business. I can't think of a time in history where so much has been lost, so totally, and in such a short period of time.
i read the link. it only included Illinois, which is notorious for pension problems. It tells us nothing about the frequency of millionaire teachers nationwide.
The ones bearing the worst burden of our obscenely overgrown and corrupt government are the professional working class, typically dual-income couples in our peak earning years. We are not rich by any means. We do not take lavish vacations--in fact we rarely get to take vacation at all, since we are the new slave class that must work 80 hours a week to minimize labor costs for our Big Business corporate employers. Despite our nice titles and total responsibility for the operation of our profit centers, we don't get paid nearly as much as you would think. And taxes confiscate a huge portion of that, since we are allowed virtually no deductions--government thinks we are "rich," although our vestec pensions were voided by a Robber-Baron corporate CEO decades ago and our savings are constantly being devalue thanks to the Fed. And of course interest rates remain zero, and "investments" are lucky not to lose principle, especially after all the fees.
Cost of living in any area within driving distance of an employment center is beyond belief. Property taxes similarly will be as high as possible--after all, government has tons of employees and "programs" that never stop demanding more money.
Add to that paying for a couple of kids in college, even a state (public) university, and you've just added about $60,000 of annual after taxannual expenses to their already severely shrunken (by exorbitant taxes) pocketbook.
Meanwhile, lower-income students have a multitude of scholarships and grants available and go to college for free. Their families aren't squeezed dry of every drop of blood, and/or don't have to take out loans to send their kids to college.
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It is truly sad that a married truck driver or salesmen with a stay-at-home wife in my parent's time managed to be so much more financially successful than two working professionals with Master's Degrees, incredible work ethics, and 100% dedication to their careers is today. Our entire generation has been sabotaged, bankrupted, and destroyed by the collusion of Big Government and Big Business. I can't think of a time in history where so much has been lost, so totally, and in such a short period of time.
And nobody seems to even notice.
I think many of us have noticed. The culprit is the dollar has been severely devalued by the way too easy access to money in this debt-based economy. Nothing down mortgages, credit cards, car loans, home equity loans, ... ALL of those have contributed to this disaster - with the biggest defaulters being the lower-income, of course. And the liberals seem to want the working professional class - the MOST productive and the already MOST contributing members of society - to pay for it all.
The top 5% still do not pay enough taxes to cover the protection they recieve from the government. They probably never will.
What protection do they get that no one else gets? The lower/no-income earners receive FAR more federal government benefits and services than do the top 5%.
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BTW - I agree with NHARTPHOTOG. Middle income professionals are really getting screwed in this economy. That is by design and is not an accident.
Working professionals are IN the top 5%, Greg.
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