100% tax on the rich (Representatives, unemployment, Iraq, lawyer)
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No one's advocating a 100% tax. Way to create a non-issue out of a hyperbole.
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The real issue is about the fact that there really is no possible way for a person to do work within a lifetime that is worth billions of dollars, yet there are multi-billionaires. There are plenty of people (teachers, non-profit organizers, engineers/writers/artists et al. who work for other people, etc.) who provide just as much (I'd say a lot more) benefits to society over their lifetimes as multi-billionaire CEOs yet are in a much lower tax bracket.
I don't see how those top wealthiest people can be worth so much more than the rest.
This is at the heart of class warfare. "What did you do to deserve it?" That's not the point. They did what they had to to EARN it. Those teachers and everyone else pretty much had the same opportunity to do the same thing. AND the fact that Joe has 10 million dollars does not mean that Frank can't go out and make 10 million on his own.
Not to mention the fact that you're not just talking about increasing taxes on multi-billionaires. You're talking about $250k??!! I KNOW I work harder than just about anyone who makes less than I do, I studied harder to get here, and my work impacts more people in a life-changing way more than most of the other professions you mentioned. And frankly, I'm sick and tired of having to defend that fact.
Their rates continuously drop. So they pay a lot less of a portion of their income.
However because of inflation, and the fact that the income gap increasing (the wealthy getting more and more and more of the share of total resources) they pay more of the share of taxes, and the dollar amount is bigger.
When you look into their evergrowing salaries and bonuses they give themselves, while the wages on the bottom remain stagnant, the tax rates on the wealthy are really a joke.
Ok but you realize the rich grow our economy by spending (not stealing) They pour money into real estate, banks, small businesses etc. Without the rich we are all hosed. Taxes shouldn't penelize someone because they make alot of money. Do it enough and the rich will work less and spend less. Look at the medical profession. Many doctors are getting out due to the fact they work 80 hours and their pay is cut every year. It motivates no one to work for less& less or nothing. If this keeps up , good luck finding medical care when they cut back on office hours to 30hours a week because they will make no more working 30 than 60 and that is where it is all heading under Obama's administration.
Funny because with the income gap rising, and Bush's tax cuts for the rich, the rich have really been milking the poor for years. Look at the past few years. Its really been a wealth redistribution in favor of the elite. Of course you right wingers live in denial of that.
I want an appropriate balance that is maintained. Top 1 percent have 10 times what the bottom 20 percent have, or even a greater amount, thats fine. But the gap shouldn't be increasing, or decreasing.
Also, someone who works 40 hours a week should be able to support themselves near their place of work. Right now though, the rich are the biggest obstacle to that and they need to be reigned in.
Please tell me how the rich are 'milking' the poor.
Also tell me how the rich are an obstacle to anything.
Also tell me how you plan on deciding how much anyone's work is worth.
Industry has controlled the price of oil ever since the development of the Standard Oil monopoly early last century. Even the government break up of that monopoly did not decrease the price substantially because the entire industry knew the price/demand curve and tacitly agreed to control the availability of oil to keep the price at the optimal level in line with the consuming country's social and economic standards. Gasoline costs more in Europe because of government policy of high taxes to reduce automobile use. The price in the US is set at a level to keep the demand at a rate that maximizes oil company revenue. Any lower and their profits would go down faster than demand would climb. Any higher and their sales and profits would go down as demand fell off the cliff.
The oil companies are using our military to control the access to the rest of the world’s oil to prevent any arrogant newcomer to pump enough to drop the world price of crude oil. They use our military because it is relatively cheap for them to rent as they pay relatively few taxes compared to the expense of maintaining the army and has the sanction of a national government. Without the sanction their efforts would be highly illegal and vastly more expensive. The oil they are trying to control is not destined for North America but is going to be distributed to the high populations of India and China where the demand is growing fastest.
The consumers and taxpayers of the US are being played as fools and always have been unable to sense the manipulation. The oil companies oligopoly controls how much we will pay and how much we will be allowed to consume Government does not control the price of oil or fuel in the US. This price setting is the equivilant of a huge sales tax on the entire country without any input from the taxed.
Originally Posted by odinloki1 What a deceptive answer.
Their rates continuously drop. So they pay a lot less of a portion of their income.
However because of inflation, and the fact that the income gap increasing (the wealthy getting more and more and more of the share of total resources) they pay more of the share of taxes, and the dollar amount is bigger.
"Share of total resources"? What does that even mean? There is no limit to money in the economy. And the 'rich' use fewer of most of the government supplied 'resources.'
The fact that most of the Defenders of Wealth are missing is huge wealth is almost never achieved by the first generation but is continuously amassed by several generations in the same business taking advantage of familiarity with the market and the huge advantage of growing up and going to school with the few people that actually control the that market. There are far more familial billionaires out there than the stereotypical self made man.
The DoW's somehow object to progressive taxes because they expect to soon join their wealthy peers and would rather pay taxes now instead of higher taxes later. We are dealing with dreams and expectations here, not reality.
fact the top 50% of tax payer pay 97% of the federal taxes
I want a fair tax, I want EVERONE to pay to include the welfare leaches, and the ultra rich AT THE SAME percentage, based on their consumption
Exxxxxactly. Just add a federal sales tax to all non-food items, and people can literally choose how much they want to pay in taxes. The rich will continue to pay more.
AND the people who constantly put the welathy down are just jealous
fact the lower middle class and poor pay little to NO federal INCOME TAX
fact 47% of working americans pay litle to NO federal income tax, and get more than they put in out of it
fact the top 50% of tax payer pay 97% of the federal taxes
I want a fair tax, I want EVERONE to pay to include the welfare leaches, and the ultra rich AT THE SAME percentage, based on their consumption
The sad thing is that even though the bottom 50% of income earners pay NO TAX and have a free ride, it is not enough for them. They want more.
It is not my problem that they did not get an education or work hard enough. It is thier problem and their responsibility. I worked hard, got an education, and everything fell into place. I do not see why I have to support further those who were screwing around when they were younger while I was working my ass off. It is an ant and the grasshopper situation. Work harder, get and education, or start a buisness.
Socialism is easy, as it appeals to one's sense of laziness and suggests that hard work and education are not necessary. Failure is acceptable, as one can live off the productive and the government. In the old days, people who advocated such notions starved.
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