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Not really because the percentage of the wealth they own is higher than 70+ percent. Since the top 5 percent owns over 90 percent of the wealth, they need to be paying over 90 percent of the taxes.
So tax rates don't matter? Is this the new Tea Party/GOP mantra? If a billionaire pays $17,000 in taxes do you want a minimum wage earner to pay $17,000 in taxes?
This hurts me. How can this Forum forbid me from calling my fellow posters stupid ?
Billionaires have made their money , they "have billions" . They no longer get a paycheck . They earn Capital Gains , they pay capital gains tax not NOT income tax . Capital gains tax - Wikipedia, the free encyclopedia
Many retirement plans rely on capital gains and taxing them would hurt seniors . Some Republicans have proposed raising the capital gains tax for high earners only . This would probably make many who are jealous of the rich happy but raise only a small bit of funds .
Yet the middle and lower class were during the bushistas.
Didn't hear you complain then.
The lower and middle class received a substantial "credit" and refunds during the Bush administration. How exactly does GIVING PEOPLE MONEY, equate to being penalized?
Quote:
Originally Posted by WestCobb
Not really because the percentage of the wealth they own is higher than 70+ percent. Since the top 5 percent owns over 90 percent of the wealth, they need to be paying over 90 percent of the taxes.
This hurts me. How can this Forum forbid me from calling my fellow posters stupid ?
Billionaires have made their money , they "have billions" . They no longer get a paycheck . They earn Capital Gains , they pay capital gains tax not NOT income tax . Capital gains tax - Wikipedia, the free encyclopedia
Many retirement plans rely on capital gains and taxing them would hurt seniors . Some Republicans have proposed raising the capital gains tax for high earners only . This would probably make many who are jealous of the rich happy but raise only a small bit of funds .
You are quite correct, this proposed tax still doesn't get more dough out of old Warren.
Thats just a way for Democrats to prove they dont comprehend math. I have to ask them, how they expect the poor to increase their income when so many of them rely upon government for a living? They celebrate these governmental programs which keep people in poverty, and then moan at the result which is that these very people cant accumulate wealth while those who dont, can.
Of course it's a stunt and it's also more of Obama's class warfare!
Can't remember the amount or where I read it but it is said that if you were to TAKE every cent from Every Millionaire and Billionaire, the amount wouldn't come to over One Trillion Dollars!
Contrast that to a debt that is closing in on Sixteen Trillion Dollars and .. Well, You (Non Libs) get the message!
Every little bit helps. Since I doubt you are filthy rich, why do you care? Why should we keep catering to the greedy ultra-wealthy in this country who hoard even more money through ridiculous tax loops?
The Jobs discussion is now between the Prez and the American people, Congress has "unworked" itself to irrelevance.
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