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I call it the desire to be a success, that doesn't just fall into your lap for most people. I expect to be rewarded for my efforts. If there is no reward who's going to take my place, the guy flipping burgers at McDonald's? He's not ging to do what I do, that's why he's working at Mcdonald's in the first place.
I rest my case.
You want a "prize" at the top. You want to obtain special treatment. You can still earn money under this plan. In fact, your first $500,000 annually will be tax-free.. but you're willing to refuse it because you want to be rewarded. You want the dream of being better and more powerful than everyone else.
As late as the 1960's the top income tax rate was 90% and the economy was doing far better than now. The current problem is the hyper wealthy are hoarding their ill gotten gains (you think everybody lost their shirts in 2008? Not the people that deliberately started the collapse and shorted the bond markets) and the Republicans blocking desperately needed domestic spending while wasting money in the Middle East.
I agree with the OP's concept. I usually put it as all income from all sources including illegal (a dollar is a dollar), lottery winnings and inheritance are counted and the amount above the 85th percentile taxed at geometrically increasing rate sufficiently to pay for all the military spending while domestic spending can be covered by transfer payments (Social Security also based on all earned income with no cap) or borrowing. This is based on the premise that the more you have to protect the more you pay.
I would laugh if this system were in place and I won the lottery but so what. Both items are about equally possible in our wealth and glory dominated economy and society.
Why do you think cutting their tax rate to 0% wouldn't make them happy?
...because they care about being richer than you. That's why they are taxing you to hell with FICA. That is why there aare countless tax breaks and subsidises for large corporations. Politicians are puppets for the wealthy; they are bought and sold.
...because they care about being richer than you. That's why they are taxing you to hell with FICA. That is why there aare countless tax breaks and subsidises for large corporations. Politicians are puppets for the wealthy; they are bought and sold.
ok...if you say so....
now why would YOU want to be BIASED, and DISCRIMINATORY against one group.....
tax EVERYONE at the same rate.....stop the discriminatory acts of the government
That is why there are countless tax breaks and subsidises for large corporations. Politicians are puppets for the wealthy; they are bought and sold.
Or... it could be that they have half a clue and realize that increasing corporate taxes drives business and jobs off-shore, and/or increases prices on the consumer.
now why would YOU want to be BIASED, and DISCRIMINATORY against one group.....
tax EVERYONE at the same rate.....stop the discriminatory acts of the government
Everyone is being taxed at the same rate. You are all paying 0% on your first $500,000. That's how marginal taxes work. Where is the discrimination?!?!
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Originally Posted by InformedConsent
Or... it could be that they have half a clue and realize that increasing corporate taxes drives business and jobs off-shore, and/or increases prices on the consumer.
Corporate taxes are useless to begin with.
Question... do you honestly thing our government can't get corporations to "pay up?" The loopholes are there intentionally...
You want a "prize" at the top. You want to obtain special treatment.
Expecting to be rewarded for your work is not special treatment, those opportunities are available for everyone. You need rewards for success and consequences for failure.
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You can still earn money under this plan. In fact, your first $500,000 annually will be tax-free.
You're rewarding mediocrity...... It's those people that go out and make millions that grease the wheels of our economy, you can't expect to replace them with less sucessful people. Less successful people are less successful for a reason.
Expecting to be rewarded for your work is not special treatment, those opportunities are available for everyone. You need rewards for success and consequences for failure.
Children need rewards and prizes.
That tax plan won't prevent a single person from striving for wealth. It didn't in the 20th century, why would it now? You don't go to work every day just to be uber-rich, do you?
That tax plan won't prevent a single person from striving for wealth.
So I start a business and I make 1 million, I managed to bank 600K after taxes and paying for my toys. Explain to me why I would take the extra effort and risk putting that 600K back into my business to expand it if the government is going to take 90% of my net profit? I'd have to be a moron.
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