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I agree with a lot of your points except for this. Not to say anything about Obama's leadership or what not, but government pensions being out of control wayyyyyy pre-date Obama and any kind of influence he could have made.
How do you not get that it's a Democrat thing? Teachers unions and public employee unions endorse and vote for which party?
I'm a strong advocate for lowering taxes on wage-earners and increasing them on the wealthy investment class.
Yet you support Obama politics who taxes wage-earners. You know the people busting their asses making $200k who are "millionaires and billionaires". <idiot or lying in chief take your pick>
Income is not the primary measure. Wealth is. I would consider anyone with mean household financial (non-home) wealth greater than $1.5 million to be "rich." That's about the top 20%.
But we don't tax wealth. We tax income.
And I'd disagree with you. Using your definition there are a lot of people who are rich because they have IRA's and houses. 1.5 million is barely enough for a 65 year old couple to retire on without pensions and that may be stretching it. The interest on 1.5 million invested at a ROI of 3% is only $45,000/year and that's assuming they don't have part of that 1.5 million tied up in their house so it's available to be invested. $45,000 isn't enough for a retired couple to live off of so they'll be hitting principal.
Last edited by Ivorytickler; 03-12-2014 at 06:06 PM..
I'm a strong advocate for lowering taxes on wage-earners and increasing them on the wealthy investment class.
What percentage of tax payers are in the rich investment class?
The problem with our tax system is not that the rich don't pay enough. It's that the bottom HALF pay too little with many getting back more than they pay in because of tax credits.
I know you live in the utopia of dreamland but here in the US there just aren't enough rich people to pay our way even if we took all their income. The problem is at the other end of the spectrum. There is no reason that every American doesn't pay something to keep the government running.
I'd don't really care if income or net worth are used to measure wealth. They are both valid measures.
But of course there is no true definition of the rich, so getting into an argument about it is just a conservative waste of time to really talk about the insane conservative conspiracy theory that the Democratic party wants to punish the rich or near rich, blah, blah, blah.
First off of course the people who run the Democratic party are themselves rich and high income. Many of the big donors to the Democratic party are rich and high income, so they are trying to punish themselves and their wealthiest donors?
How do conservatives get around that reality? With another insane conspiracy theory.
The conspiracy is that somehow the Democratic party excludes themselves and their political allies from higher taxes. They hide it in the tax code where conservative elected officials can't see them and neither can tax experts. SMH.
I'm a strong advocate for lowering taxes on wage-earners and increasing them on the wealthy investment class.
How do you want to tax your targets? Please - how are you going to tax Bill Gates, Warren Buffett, and Beyonce and Jay Z?
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