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There is nothing excessive about our taxation, it is the lowest it has ever been in history.
And just to set the record straight. Taxes were 4.8 % of GDP in 1934 as compared to 17.8% this year... so you are way off. They are not the lowest in history by a long shot.
Yes, we want to protect the money of the insanely rich, but NOT for their sake, for the economy's sake. YOu see, as long as they have it, it will be invested to make the economy grow, to make real progress and good things happen.
If you tax it away from the economy and down the black-hole of wastefull government, it is wasted, squandered.
Now you know the rest of the story.
as in ZERO, ZIP, ZILCH, NADA, NIL, NOUGHT, NOTHING!!!!!!!!
Yep! One of these California Billionaires is actually an old family friend (went to middle-high school with his daughter, and she's a close friend of my sister). Last I checked the father is worth $1.4B, all SELF-MADE through real estate investments & development.
Funny thing is, they live fairly "simply" considering, and kinda look like schlubs - seriously, if I showed their photo on this forum, the right leaners would probably call them welfare bums or white trash! They also happen to be the nicest people ever, and donate millions to charities and non-profit organizations annually. I'm sure they pay more than their fair share in taxes too, and probably wouldn't complain if they had to give a little more. That being said, I'm the last person to support taking more than 50-60% of anyone's income... in fact, I would support a flat tax if the rates were fair across the board.
I don't think anyone should pay 50-60% of their income, it pisses me off when I hear people who are extremely rich paying less than 14%. The issue I have with flat rate taxes is that the people on the bottom tend to be hurt the most because they have less money coming to them for daily living.
And if you focus only on individual FIT, they were 0.7% of GDP in 1934 as compared to 8.3% this year.
Try to get your facts correct before posting.
Interesting, gotta link for that? Not that I don't believe you, I just don't believe percentages from anyone on this site without a link to back up such a claim.
Guess that means they are not flocking out of the country, and I am guessing you weren't one of those new millionaires, but you keep hoping.
When you are as old as I am it is way past time to hope to become a millionaire. However, I don't think that taking from the rich and giving to the poor is the way to run things. In other words, I am against socialism whether you are or not.
When you are as old as I am it is way past time to hope to become a millionaire. However, I don't think that taking from the rich and giving to the poor is the way to run things. In other words, I am against socialism whether you are or not.
So we should only tax the poor and middle class and the rich should pay no taxes is what you are saying? We wouldn't want a single dollar of their to go to anyone making less than them because that would be socialism.
So 200,000 new millionaires. Must make you nuts that they became rich while Obama was in office.
It won't happen again this year with the new tax laws.
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Yes...
