Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Which makes the point, taxing wealthy people, even at high rates like 90% has little impact on being wealthy. Successful people can succeed today if we tax them more.
they will succeed as they always have under confiscatory tax rates. They take their money out of play, putting it in safe, tax-exempt places, like gov't bonds that are tax exempt. Little of it will be invested in ways that help the economy, though, and we will all suffer on their behalf. History exists on this issue already.
We seriously need to educate the wealthy - We all assume that the rich are smart and strong- they are just as vulnerable as the poor with the collapse in the belief system we call money.. The so-called wealthy...are not that clever - if they were the sytem would be sustainable - right now it is running on a type of auto-pilot with no one at the controls...Everyone assumes that if you go to the bridge of the great ship - that there is a captain of industry running things - You will find the wheel house empty...that is the sad reality - there is no leadership because most - wealthy and poor can not concieve the big complex picture that is humanly impossible to manage...at this point.
Oleg - your view discounts the vast conspiracy of the rich vs the rest theory popular today.
I did well in life, and I don't apologize. In all my years I was never contacted by the secret club of rich white guys who supposedly run the world. All of the guys like me - business owners and industry guys - would tell you the same thing. For years I was too busy working to worry about anyone but me.
By real wealth standards I'm poor. Guys worth $5 or $10 million are a dime a dozen in the bay and silicon valley. Maybe only the billionaires get to captain the ship....
Would you like to see a prosperous America, just like the one we had in the 50's and 60's? I sure would. But after doing plenty of research, I have to say the Republican ideology is simply NOT going to achieve this. Ever.
The policies of FDR and his New Deal was what made the U.S. the envy of the world. His policies actually led to a true widespread middle class society, with some poor and rich households here and there. How did he achieve this? He sharply increased taxes on the wealthy. In fact, at one time, the highest tax rate was 91% for the wealthiest earners. Trickle down economics don't work as well as Republicans want you to believe.
I think Obama needs to be more aggressive at taxing the rich, otherwise we are doomed as a nation. I just don't see how we are going to have the tax revenue to pay off the debt and move forward with other projects. Something's gotta give. I mean, even with a 91% tax rate, someone who earns $1 billion a year, such as Warren Buffet, would be left with a whopping $90 million AFTER taxes. Who seriously needs or wants more than that to live happily?
If a Republican is elected, god help us. We can't afford to have anymore tax breaks for the wealthy.
Really? Tax the rich. Why not cut wasteful spending, decrease the size of the military and practice a bit of protectionism and bring manufacturing jobs back stateside?
I don't begrudge the rich their money. Of course I read alot of Ayn Rand.
"I am earning my own living, as every honest man must. I refuse to accept as guilt the fact of my own existence and the fact that I must work in order to support it. I refuse to accept as guilt the fact that I am able to do it better than most people - the fact that my work is of greater value than the work of my neighbours and that more men are willing to pay me. I refuse to apologise for my ability - I refuse to apologise for my success - I refuse to apologise for my money." Hank Rearden, Atlas Shrugged
Which makes the point, taxing wealthy people, even at high rates like 90% has little impact on being wealthy. Successful people can succeed today if we tax them more.
Wrong as always. It means that at higher tax rates they WONT PAY TAXES because they dont move it from their corporate levels to the individual levels.
Would you like to see a prosperous America, just like the one we had in the 50's and 60's? I sure would. But after doing plenty of research, I have to say the Republican ideology is simply NOT going to achieve this. Ever.
The policies of FDR and his New Deal was what made the U.S. the envy of the world. His policies actually led to a true widespread middle class society, with some poor and rich households here and there. How did he achieve this? He sharply increased taxes on the wealthy. In fact, at one time, the highest tax rate was 91% for the wealthiest earners. Trickle down economics don't work as well as Republicans want you to believe.
I think Obama needs to be more aggressive at taxing the rich, otherwise we are doomed as a nation. I just don't see how we are going to have the tax revenue to pay off the debt and move forward with other projects. Something's gotta give. I mean, even with a 91% tax rate, someone who earns $1 billion a year, such as Warren Buffet, would be left with a whopping $90 million AFTER taxes. Who seriously needs or wants more than that to live happily?
If a Republican is elected, god help us. We can't afford to have anymore tax breaks for the wealthy.
.....An honest leader would feel he owed it to the citizenry to impress upon them one central truth – that we can't have any new programs because we've spent all the money. It's gone. The cupboard is bare. What's Obama's plan to restock it? "Right now, Warren Buffett pays a lower tax rate than his secretary," the president told us. "Asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense."
But why stop there? Americans need affordable health care and affordable Master's Degrees in Climate Change and Social Justice Studies, so why not take everything that Warren Buffett's got? After all, if you confiscated the total wealth of the Forbes 400 richest Americans it would come to $1.5 trillion.
Which is just a wee bit less than the federal shortfall in just one year of Obama-size budgets. 2011 deficit: $1.56 trillion. But maybe for 2012 a whole new Forbes 400 of Saudi princes and Russian oligarchs will emigrate to the Hamptons and Malibu and keep the whole class-warfare thing going for a couple more years.......
FDR and the "New Deal" made a depression into "The Great Depression". His attacks on business and wealth put millions of people on the bread lines. His idea of a recovery was WW-II.
Wrong as always. It means that at higher tax rates they WONT PAY TAXES because they dont move it from their corporate levels to the individual levels.
You probably realized way to late that your post make ZERO sense. Taxing the wealthy implies taxing their income no matter what form that might ne. Eliminating loopholes and special tax treatment of their income is a must. Taxing all income form for FICA is also a must.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
