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They need to CUT taxes for the workers and RAISE taxes on the rich. The rich have got away with murder in this country with taxes. They need to pay what they would pay in Europe and Canada. To begin with, do way with the cap on Social Security which means we pay 8% and a millionaire pays 0.008%. Secondly ALL forms of income should be taxed at the same rate! Capital gains and dividends should not be taxed lower than wages are. Capital gains should be "income" just like wages and tips and they should be taxed according to what you make and not a fixed percentage. It is stupid when us workers are paying rates that are higher than people like Warren Buffett are.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
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I would completely do way with the tax system we have. Eliminate ALL deductions including YES the home interest deducation and then everybody has their first $30,000 income tax free every year. Then we start taxing at 1% for $30,001 and go up to 75% for a million or more a year!
I would completely do way with the tax system we have. Eliminate ALL deductions including YES the home interest deducation and then everybody has their first $30,000 income tax free every year. Then we start taxing at 1% for $30,001 and go up to 75% for a million or more a year!
So - you would PENALIZE people for working hard and earning a living.
They need to CUT taxes for the workers and RAISE taxes on the rich. The rich have got away with murder in this country with taxes. They need to pay what they would pay in Europe and Canada. To begin with, do way with the cap on Social Security which means we pay 8% and a millionaire pays 0.008%. Secondly ALL forms of income should be taxed at the same rate! Capital gains and dividends should not be taxed lower than wages are. Capital gains should be "income" just like wages and tips and they should be taxed according to what you make and not a fixed percentage. It is stupid when us workers are paying rates that are higher than people like Warren Buffett are.
According to the New York Times, the top 1% of income earners pay 39% of all income taxes and the top 50% pay 97% of all income taxes. In contrast, in 1980, when the top income tax rate was 70%, the richest 1% paid only 19% of all income taxes. This is what is known as socialism, writ large.
KevK, how much more would like the rich to pay? 100%? It's close to that point about now. In fact, that's the goal of the hard left, IMO. When the majority of voters have no federal income tax liability it will be almost impossible to pass any meaningful tax cuts and further tax increases will be a piece of cake, especially if the taxes only affect those to be considered to be rich. Through this ploy the Democrats plan to create a defeat-proof socialist congress.
1. Socialism Government
2. Socialism Government
3. Socialism Government
4. Socialism Government
5. Socialism Government
6. John McCain
7. Barrak Obama
8. Hillary Clinton
9. Democrats
10. Republicans
There are your 10 reasons. Until you clean house and start electing those who want Liberty and Freedom you will get more of the same.
Remove the Income tax and replace it WITH NOTHING.
The government works for the people not the other way around.
I would completely do way with the tax system we have. Eliminate ALL deductions including YES the home interest deducation and then everybody has their first $30,000 income tax free every year. Then we start taxing at 1% for $30,001 and go up to 75% for a million or more a year!
Well, if you also want to have no cap on Social Security "contributions" and factor in many of the state income taxes (and some area's local income taxes) you effectively would have a 100% tax system for higher incomes.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,766,887 times
Reputation: 3587
Quote:
Originally Posted by mike0421
According to the New York Times, the top 1% of income earners pay 39% of all income taxes and the top 50% pay 97% of all income taxes. In contrast, in 1980, when the top income tax rate was 70%, the richest 1% paid only 19% of all income taxes. This is what is known as socialism, writ large.
KevK, how much more would like the rich to pay? 100%? It's close to that point about now. In fact, that's the goal of the hard left, IMO. When the majority of voters have no federal income tax liability it will be almost impossible to pass any meaningful tax cuts and further tax increases will be a piece of cake, especially if the taxes only affect those to be considered to be rich. Through this ploy the Democrats plan to create a defeat-proof socialist congress.
Like I said, everybody should get their first $30,000 tax free- indexed to inflation each year. Why? Because that is what it takes for the average family of 4 to live at basic expenses. After that taxes start at 1% and go up to 70% or so for the very rich. The very rich- who make let's say 2 million or more a year- would still have $600,000 left after taxes. Not a bad income if you ask me.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,766,887 times
Reputation: 3587
Quote:
Originally Posted by NewToCA
Well, if you also want to have no cap on Social Security "contributions" and factor in many of the state income taxes (and some area's local income taxes) you effectively would have a 100% tax system for higher incomes.
I would have a 70% cap for the very rich but that would include the SS tax so they would, in effect, pay about 61% in Federal tax- or if they are self employed, 52% (plus the 16% SS tax and 2% medicare tax). The SS tax should just be included with regular tax- not a separate line item. Same with the medicare tax. All income taxed the same, all taxes the same. Easy and quick to figure it out.
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I'll give you 10 reasons
