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Originally Posted by NEOhioBound No, first off the government CAN not do that
Second of all, everyone already has an equal chance to become successful in life. Whether you become so or not is the fault or fortune of your own, not the government (as the way it should be)
They've been trying the Powerball for years now and they just aren't gaining wealth like they've been promised. That means, to them, that they just can't get ahead.
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They've been trying the Powerball for years now and they just aren't gaining wealth like they've been promised. That means, to them, that they just can't get ahead.
I agree, but increasing taxes doesnt take away from the achievements the high earners have made. Does 30% or 20% on capital gains asking too much? Without this country I doubt most of us would have had any opportunities at all...
That is only a 5-15% increase in tax on capital gain. And it would assist our country get out of this mess and in turn probably increase capital gains.
not true. if you were to make capital gains taxes zero, that means that every dollar returned on a capital investment goes to the investor. start taking money from the investor, and they start thinking about ways to not pay taxes legally, through deductions, rolling investments over, tax free foundations, etc. make the rates too high, and they take their money and invest it in other countries where the tax rates are lower.
Well then lets make ALL tax rates O% of all income. Government revenues would then be infinite wouldn't they?
What you have stated above is in no way rooted in reality. Taxes pay for the infrastructure, safety, and stability that allow us to make money. I'm not saying raise them to the roof, but be realistic here.
I agree, but increasing taxes doesnt take away from the achievements the high earners have made. Does 30% or 20% on capital gains asking too much? Without this country I doubt most of us would have had any opportunities at all...
That is only a 5-15% increase in tax on capital gain. And it would assist our country get out of this mess and in turn probably increase capital gains.
How about we just stop giving back money to people who pay NOTHING in taxes (and dont give me that crap about how they pay city and state taxes- I don't care about that- most if not all of us pay city taxes and majority of states have state taxes and those who live in tax free state pay higher taxes elsewhere) EVERYONE should pay into Federal taxes or get nothing back. Same rate for all- whether you make 1$/yr or 1BIL/yr
How about we just stop giving back money to people who pay NOTHING in taxes (and dont give me that crap about how they pay city and state taxes- I don't care about that- most if not all of us pay city taxes and majority of states have state taxes and those who live in tax free state pay higher taxes elsewhere) EVERYONE should pay into Federal taxes or get nothing back. Same rate for all- whether you make 1$/yr or 1BIL/yr
Sounds good to me. I grew up with the government assisting my parents because my dad made 60 dollars for a 12 hour shift. 6-7 days a week. This was in the 1990s.
After we take away public assistant programs from the poverty, then we can increase government expenditures in crime prevention, prisons, and renovations from gang/crime associated damages. Lets calculate all of that, then weigh the costs and benefits. I wonder which would be more beneficial for the country and economy.
To the original question,
There is nothing wrong with raising the income taxes on people who make more than 1 million dollars a year.
The reason the Congress doesn't want it, is because they are bought off
by the people who make that kind of money.
The rest of the population, the 99 percent of us who aren't extremely rich,
don't have lobbiest's in Washington working for us.
We are just the working people who pay for everything.
The real rich use the loop holes they paid to have written into the
tax laws by the greedy politicans that are in Congress.
That is the truth.
Who is going to pay for the deficit? The working poor? The people
who are still searching for jobs?
The interest alone is killing the country.
Republicans and Democrats did this.
So if you are real rich, I say, pay more.
Or go somewhere else,
because the middle class is shrinking.
You can't get blood out of a stone.
Wrong. Grades do not direct translate/relate to distribution of income or taxes.
And the question is not addressing our deficit issues...
The middle class mostly pay ~30% taxes on their income. Most people do not have the luxury to find loopholes and pay lower proportions of their income.
Give me an argument that encourages those with 1M+ income should pay 20% or 10% or whatever...why would you use distribution of grades to compare proportionality of income tax....pointless
I'll defer my answer until I hear why over 40% pay no income tax and why out of control spending continuous (seriously, 600k to study why apes throw their feces?).
I'll defer my answer until I hear why over 40% pay no income tax and why out of control spending continuous (seriously, 600k to study why apes throw their feces?).
Most of those 46% that don't pay income tax is because of the poverty that they face due to low income. With the increasingly high cost of food and energy, there is almost no way for a family of 4 to get by with only 20k a year.
46% of households make around the 20k on avg. (assumption with ~30k is the cut-off on no tax paying family)
A middle class family is from 50k-120k. That is basically another 35-45%% (they get really screwed by taxes and no benefits)
the the rest ~10%-15% makes 250K or higher with top 1% over 1M
I will also assume that you will take diminishing marginal returns on every dollar in each class into account when you look at those numbers. It is your choice to hate on those that dont pay income tax, but if poverty gets any worse, crime rates increase....trust me that 46% will destroy the US if there is no assistance. That is what makes America so great. It helped my family get out of poverty, and I am willing to pay the 30%. How about those that it has helped get rich? I understand being rich takes ability but it also takes opportunity. That is what America gives.
I don't see anything wrong with a little sacrifice. Especially from those who can give up more and still live a comfortable life.
Haha and as for the budgeting...there has to be more internal control on government spending. I am not educated enough to comment on the spending. Hopefully my opinion to your first question is enough for you to answer me.
Agreed, the payroll tax holiday should be eliminated, along with the Bush era tax cuts. Not wanting to gamble the future you know.
You do know that eliminating the Bush era tax cuts would bring millions more onto the tax rolls at the low end, right? That the child tax credit would be cut in half, the lowest bracket would go from 10% to 15%, and every higher bracket rate would also rise--but proportionately less than the hit on the low bracket?
I'm for all of these things, if only to teach you who got most of the goody out of the Bush era tax cuts.
Instead of 30% it should be 50% at a million and 90% at a thousand million. These people do not earn their money the steal it from the rest of us with monopoly and corruption.
The middle class mostly pay ~30% taxes on their income. Most people do not have the luxury to find loopholes and pay lower proportions of their income.
most 'middleclass' pay close to nothing in taxes
I make 60k and pay NOTHING in federal income OR federal payroll taxes
but I get killed at the state and local(property) level
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