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This is a great idea! I know a lot of moderates who think $250,000 is too low of an income to increase taxes. However, I think any reasonable person would agree to increasing taxes on people who make $1 million or more per year. I doubt Republicans will be okay with this, but I'm sure the majority of independents will support this idea.
Do you support it and why?
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This should be on major media websites soon. It's a breaking alert sent from CNBC to my phone.
Tax increases are meaningless unless the tax base is broadened (jobs and tax reform to consumption tax instead of income tax). You can take the entire wealth of every multi-millionare and billionare in this country and it won't pay off our debt. Obama cannot tax us into prosperity. Have you not seen all the new taxes on the average American in his new "jobs plan"?
I support it to an extent, if true. I support it if the govt doesn't see it as a way to increase spending, raise debt, come up with more expensive programs, etc. If used to help dig us out of this hole, I'm all for it. But knowing how our great gov't works, it won't solve a damn thing.
Tax increases are meaningless unless the tax base is broadened (jobs and tax reform to consumption tax instead of income tax). You can take the entire wealth of every multi-millionare and billionare in this country and it won't pay off our debt. Obama cannot tax us into prosperity. Have you not seen all the new taxes on the average American in his new "jobs plan"?
1. Actually more than 50% of the cost to his jobs plan is tax cuts for small businesses and the average employee, which would be paid for by allowing the Bush Tax Cuts on the wealthy expire.
2. You can't cut us into prosperity. Countries such as Canada and Australia are doing 1000x better than the United States and both have much higher taxes on the wealthy.
3. If you are serious about cutting our deficit, you can't just cut your way out of it. You have to cut spending and increase revenue. We spent a decade fighting two wars during a time when taxes were cut, the first time in our country's history.
I support it to an extent, if true. I support it if the govt doesn't see it as a way to increase spending, raise debt, come up with more expensive programs, etc. If used to help dig us out of this hole, I'm all for it. But knowing how our great gov't works, it won't solve a damn thing.
The story is still developing on CNBC, "Obama to propose a 'Buffet Tax' on people earning more than $1 million a year (story developing)"
You'll see it probably in a couple hours on CNN, FOX etc. Once it develops into an article I'll post it here if I can still use the edit feature.
I think the Super Committee should pass a tax hike on people making $1 million or more and cut spending by another $2 trillion.
What's funny though is Norquist during the debt ceiling debate said, "allowing the bush tax cuts to expire would not be a tax increase and would not break my pledge"
This is a great idea! I know a lot of moderates who think $250,000 is too low of an income to increase taxes. However, I think any reasonable person would agree to increasing taxes on people who make $1 million or more per year. I doubt Republicans will be okay with this, but I'm sure the majority of independents will support this idea.
Do you support it and why?
---
This should be on major media websites soon. It's a breaking alert sent from CNBC to my phone.
You drive a BMW335xi and I only have an 11 year old 328i so you should pay more.
Ready to pony up?
BMW335xi-
"I think the Super Committee should pass a tax hike on people making $1 million or more and cut spending by another $2 trillion."
Do you really think that tax on those over $1 Million is going to make up even remotely close to $2 Trillion?
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