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Frankly I'm not sure raising taxes is the right answer. Instead of raising rates, why don't we focus on closing all loopholes and deductions, etc? Make it one rate that you will pay, say 25%, you will pay 25% period. There would be no loopholes, no deductions, nothing. Whatever bracket you're in you pay that much not a penny more or less. I'm also skeptical of a progressive tax.
Why don't we just have a billionare tax and confiscate all personal wealth over $1 billion and use it for public projects. That would get us close to one trillion dollars at the expense of about fewer than 50 people. It would get the economy rolling fast and furious. You can still call it the Buffett tax if you'd like.
If you're going to be accussed of being a communist, you might as well govern like one.
So wrong - it's percentages. The same rate for all.
Why do you not want the rich to pay the same rate?
They're making their money off of your back.
This second post is not what you said in your first post.
What is it?
Maybe because I am addressing the bs that savoir was spewing, not the reality of the situation. You need to read the responses in context. In dollars, regardless of percentage, the rich pay far more than the poor or middle class. I could care less if they make money off my back, I make money off of them as well. It is not a finite supply.
I think you hit the nail on the head. They can't explain the hypocrisy.
What is outrageous is the way the media let's obama get away with his buffet meme, without ever raising these questions of the man's own reticence to pay taxes.
Said it before and I'll say it again. before we increase taxes on anyone we need to cut the waste out of our spending. To raise taxes before we get spending under control is enabling the waste.
tinman01, Spending control is like quality assurance, a job never complete, that must be a continuous, unending process. You don't control waste during one year and stop; you create a process where its part of all decision-making. It starts with "We, the people" rejecting pols who promote OUR hometown PORK projects.
First, congratulations, I had no idea your were a millionaire and would be subject to millionaire taxes.
Second, it's absurd how you twist his behavior into "excuse the inexcusable,"when his whole argument is that the rich do not pay their fair share. The top 400 taxpayers pay a rate of 16.6%. Buffett pays that rate too and that's because capital gains is taxed at 15%.
He says there is no rational reason to tax the rich so low and we hear outrage? Outrage, not from the billionaires, but from middle-class right wingers who will never be in this income bracket. That's absurd.
What is shows is that 30 years of right-wing propaganda paid by the wealthiest has worked. It has convinced average people that the rich deserve royal status -- even when one of their own shows what nonsense it is.
Now think about that..what I bolded. Why no "outrage" from those billionaires ? Could be that they have sheltered and moved money out of "income" and into something else ? Buffet did; he EARNS $100K salary a year. Even he says his secretary pays more taxes then he does. Why is that ?
tinman01, Spending control is like quality assurance, a job never complete, that must be a continuous, unending process. You don't control waste during one year and stop; you create a process where its part of all decision-making. It starts with "We, the people" rejecting pols who promote OUR hometown PORK projects.
Agreed. The party hardliners need to smarten up. The my party wrong or right types.
We need solid legeslation enacted to prevent waste. Stop the add ons and back room deals.
First, congratulations, I had no idea your were a millionaire and would be subject to millionaire taxes.
Second, it's absurd how you twist his behavior into "excuse the inexcusable,"when his whole argument is that the rich do not pay their fair share. The top 400 taxpayers pay a rate of 16.6%. Buffett pays that rate too and that's because capital gains is taxed at 15%.
He says there is no rational reason to tax the rich so low and we hear outrage? Outrage, not from the billionaires, but from middle-class right wingers who will never be in this income bracket. That's absurd.
What is shows is that 30 years of right-wing propaganda paid by the wealthiest has worked. It has convinced average people that the rich deserve royal status -- even when one of their own shows what nonsense it is.
What is anyone's fair share? Why are the wealthy any more obliged to pay more than any other group?
OK, so I am still waiting for some evidence that Obama intends to raise the capital gains tax. This millionaires tax will not address the very issue you re so concerned about. Just wait to see what would happen to the economy if capital gas taxes were raised. TIMBER!!!
I could support this a person making 1 million or more is certainly well off...but a person making 250k is certainly not rich
btw, fyi.....back in the 50's the top bracket (what was considered to be rich) was 400k....that would be 3 million in today's dollars
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