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Likely, you wouldnt fall in to a 90% bracket. Taxing someone making like 200k 90% is clearly excessive. However, taxing someone 90% who is making 50 million is not excessive. Even after taxes, they would STILL be making more than 99.999999999 percent of people, so their "elite" status would not be removed.
What would be removed would be them just hoarding gallons of wealth under the mattress, essentially removing it from the economy.
Keep going...
And that's their business. Just because someone is rich it doesn't mean that they should pay an unfair tax burden.
it IS justifiable taxing people 25% of their income when they cant even afford food?.
LOL! They say "I can't afford food, and how do we know..they tell us via their PAID internet service".
Or rant on call in shows they see on their CABLE tv.
And few pay 25%, after all you lefties insisted for decades, SS wasn't a tax-it was a trust fund for your retirement.your savings. So when we talk tax rates, at the Fed level, only Fedeeral Income tax counts, and 47% pay ZILCH. A large chunk get Robin Hood seized money to boot.
But what the uber lefties forget is when RR refused his 4th movie, many flunkies working the set lost income, too.
Pretty easy to take one miniscule example, and try to generalize it to the whole country, isn't it.
Quote:
Originally Posted by annerk
And that's their business. Just because someone is rich it doesn't mean that they should pay an unfair tax burden.
Wow. Notice how annerk continues to lobby against her own best interests, even when the facts are drawn out plainly for everyone to see?
Why isn't this embarrassing to her?
Amazing job, Rightist Marketing Machine. Amazing job, is all I can say.
Congratulations. The multinational corporations that hold you in bondage remain free to profit off your sweat nearly tax free, while their overpaid senior execs continue to pay a pittance in personal income tax.
Your primary and secondary schools will continue to turn out third-rate pupils with limited opportunities, while you enjoy the satisfaction of making it on your own without health care when a catastrophic illness bankrupts your family.
Your agricultural universities will continue issuing Ph.D.s in football, and bogus Protestant Evangelical and Fundamentalist theology, and how to jerk off a bull safely. Your children will learn to borrow enough money to erect chicken houses so that they, like you, can take custody -- not possession, but custody -- of Tyson's chicks, feed them, rear them, assume losses from those that fail to thrive, and in the end earn just enough money to service their endless debt, and realize a profit of perhaps $12K a year. Your bank thanks you; Tyson thanks you; Mitt thanks you; and I thank you.
You can continue sending your sons to die in Afghanistan on a fool's errand. When you bury them, you can console yourselves with platitudes about their heroic mission to defend America from weapons of mass destruction.
Here in the Blue States, Democrats and Republicans alike generate the lion's share of America's wealth, although it is you Reds who provide the lion's share of the stoop labor. You are our Mexicans, so to speak. We could not have accomplished the economic miracle that is America without your willing capitulation to a system that lies to you and f___s you over at every turn.
Look at economic output and educational achievement on a state-by-state basis: it's painfully evident that we Blues are immensely more productive and better educated than you Reds. We have lots more money. We live longer. We eat better. We work less. We f___ more. We do cocaine and smoke fine Canadian buds, not the homebrew crank and cheap Mexican headache reefer you guys are stuck with. We drink French wine and Stoli martinis, not Budweiser. Our children rarely bother us. Our teeth are straighter and whiter, our necks longer, and our fingernails cleaner. And many of us are the Republican elite who have punked you.
You can savor the deficit spending that stimulates commerce today, but will cripple the US economy in a few years' time when the bills come due with interest. We Blue States will come out of this era no worse for wear, although you Reds will come out very much diminished, deeper in debt, and less able to improve your circumstances by your own powers. But because you wish to be flattered more than helped, you will be grateful for your a__ f___ing from the Blue-state Republican elite that is laughing behind your backs today. We did not wish it so. We honestly did want to help.
And that's their business. Just because someone is rich it doesn't mean that they should pay an unfair tax burden.
How is it unfair? What harm is coming to a person by having 5 million instead of 50 million?
Do you understand that, in theory, dollars are finite, and rich people do not have proportionate consumer demand as a percent of their total income as poor and middle class people?
Therefore, the money will naturally all filter to wealthy people. The only way it gets back is investment, or taxation. Guess what though, rich people dont invest when there is no demand, and demand by the "99%" is eroded as more money ends up in the hands of the rich. Its an endless circle, that ends up with accelerated accumulation of wealth by the rich, like weve seen over the past 3 decades.
So, if the rich arent dumping it back in through investments, it becomes NECCESSARY to tax it out of them.
Wow. Notice how annerk continues to lobby against her own best interests, even when the facts are drawn out plainly for everyone to see?
Why isn't this embarrassing to her?
Amazing job, Rightist Marketing Machine. Amazing job, is all I can say.
Atleast shes almost to the 1%. Not nearly as bad as people on disability and food stamps crying about getting rid of welfare, and lining up to punch the nearest Tea Party candidates ticket.
Pretty easy to take one miniscule example, and try to generalize it to the whole country, isn't it.
Wow. Notice how annerk continues to lobby against her own best interests, even when the facts are drawn out plainly for everyone to see?
Why isn't this embarrassing to her?
Amazing job, Rightist Marketing Machine. Amazing job, is all I can say.
It's not against my best interest at all. Maybe I'll just cash out my assets, close my company laying off 30 people as a result and move to Brasil. I'll winter there and summer in Croatia. The IRS won't be able to touch me. If 10,000 of my fellow small business owners did the same thing, let's see what will happen. It will make that flat tax look pretty darn appealing.
Rich people invest in companies that hire not-so-rich people. If rich folks aren't rich, there's no money to invest. Everyone loses.
And, before you bleat it, the government isn't an economic engine or a wealth-creator. Its a redistributor of wealth already made by others. When its redistributes too much, the golden goose quits laying those eggs.
Random point to consider: Part of the problem might also be lousy investment options that are nothing but "shuffling paper around," "funny money schemes," and other crud that makes people rich in the short-term through questionable means, but produces NOTHING of value.
I wonder what would happen if all investing got back to basics - building things, creating new industries, funding new ventures - and could yield a nice rate of return without the scams. Would the rich, in their own interest, fund these efforts (since they could be profitable), which would in turn drive the creation of jobs and industries? That would create jobs and industry without even having to risk extremely high taxes and just having the taxed money disappear into the hands of a different set of crooks.
I mean, what is the real value to a derivative? Does it feed anyone or fulfill any need? What about all the absurd housing bubble related investments that were nothing but different flavors of manure mixed together and given a AAA rating? Was there any real value behind that other than making the connected people rich and a lot other people poor? What happened to real investing - where something tangible comes out of it, the people who put in the money and took the risk make a profit, and jobs and industries are created? It seems that there's far too much money to be made in scams these days, or gutting companies for short-term gains, or selling shady financial "products," and so on... maybe that's part of the problem. Just something to consider.
Rich people invest in companies that hire not-so-rich people. If rich folks aren't rich, there's no money to invest. Everyone loses.
And, before you bleat it, the government isn't an economic engine or a wealth-creator. Its a redistributor of wealth already made by others. When its redistributes too much, the golden goose quits laying those eggs.
The "golden goose" doesnt "lay eggs" without being fed. Remember that.
Rich people dont create jobs, they "invest" in ways to fill demand. No demand, rich people just squirrel away the money, like theyre doing right now.
How is it unfair? What harm is coming to a person by having 5 million instead of 50 million?
Do you understand that, in theory, dollars are finite, and rich people do not have proportionate consumer demand as a percent of their total income as poor and middle class people?
This doesn't matter. I don't give a rats ass about some moron who has never made more than $14/hour in his lifetime yet had eight kids because Jesus told him to and lives in a 2BR mobile home. That is simply NOT MY PROBLEM.
Quote:
Therefore, the money will naturally all filter to wealthy people. The only way it gets back is investment, or taxation. Guess what though, rich people dont invest when there is no demand, and demand by the "99%" is eroded as more money ends up in the hands of the rich. Its an endless circle, that ends up with accelerated accumulation of wealth by the rich, like weve seen over the past 3 decades.
So, if the rich arent dumping it back in through investments, it becomes NECCESSARY to tax it out of them.
People do still invest, they just do so more carefully. Careless/reckless/over investing is a big chunk of what caused our current economic situation.
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