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Why is wealth redistribution the worst thing you can do to help the poor? Let me explain.
What do rich people do with their money? Do they hide it under their mattresses? No. They either invest it or spend it. They are the ones who invest in new businesses and growing businesses. This creates new jobs. Rich people put their money back into the economy (and directly into working people’s pockets). The more money you take away from rich people and corporations, the less they will grow their businesses, invest in new businesses, and spend. This results in less jobs.
The Obama tax plan is proposing that we punish the very people that stimulate our ecomony. Domestic businesses aren't exactly in the best shape right now. Companies large and small alike are closing their doors to foreign competition. We should be LOWERING taxes for corps and people making over $250,000. This would immediately jump start our economy by encouraging business growth and investment.
Unemployment is rising. That means there are more people looking for jobs than there are job openings. If you are part of the working class, you have the following choice: Would you rather get a $1000 handout from the government and possibly lose your job (which is worth $20,000 or $50,000), or keep your job and let the people who know how to invest that $1000 correctly keep it.
Bottom line: PEOPLE NEED JOBS, NOT A FREE HANDOUT!
I understand that where you live matters as far as cost of living.
What I cant understand is the concept that 1/4 million a year is middle income. Its not & if someone making that thinks its not enough to get by on they need to think harder.
I should say I dont think rich folks should get hammered any more than less fortunate tax wise.
I'd rather see us cut assistance before increasing taxes for anyone. Assistance should come from charity & other sources where people give because they want to, not from the general fund. Taxes are to run the country, not feed the poor.
IMO, NO ONE should be taxed at 40% of their income. I am sorry, that's almost half. I don't care how much you make, the gov't is just getting a free ride by taxing 40%. There is NO circumstance where the gov't should get 40%.
Did you know that there was a 70% top tax bracket about 50 years ago? I think you're smoking something! READ!
I also think that "rich" should be defined in terms of a percentile of the nation's household income demographics. For all I know, this is already how it is defined in the Dept of Treasury when devising tax policy and strategy.
The data shown in that chart is adjusted to account for inflation.
It sure doesn't say that. What's the federal government source from which you got that chart, and where does it say it's adjusted for inflation?
I find it very hard to believe that that chart is adjusted for inflation, given that America used to have a very strong and large middle class, yet barely has one any more -- and if that chart is adjusted for inflation, it shows that the "middle class" used to make less than it does now.
I think this is exactly what all us "rich" folks should do.
"Maybe my husband should just start working 4 hours a week and we can go on welfare and both sit home. Maybe that is what we will do after we get the house paid off and the school loans paid off. So what if he has income potential??? What the hell? We can both just choose not to work and collect $ from those that do.
If all the higher income people just took a year off from their jobs and therefore limited the amout of income taxes they pay, lets see where the gov't would be. And the rest of you."
I would love to be able to spend a week with my DH let alone a whole year. What a difference that would be. I bet the IRS would love for use to go from our income to nothing and just get money back from them. Maybe claim I have some sort of mental problem, have a few kids, demand that I be given a nice section 8 house in a good neighborhood and chill all day.
Maybe I will default on my mortgage and let everyone else bail me out because I just wans't smart enough to realize that if I make 30K a year I really can't afford a 500K house, but hell- I wanted it and by god you owe it to me.
Folks need to really start looking at themselves for what then need and want. We all want things, but hey we can't all have them. It is a fact of life. Get on board with reality or get off and fend for yourself.
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