Taxes

[Deleted member 1609]

I'm not saying don't spend anything, but a good 10 percent of the money that goes there can be terminated.

You're wrong there. It should actually be about ten percent of what it is now.

Also, we need to start taxing the hell out of the richest one percent of America. The wealth inequality is disgusting.

 

[Justin M]

I'm not saying don't spend anything, but a good 10 percent of the money that goes there can be terminated.

You're wrong there. It should actually be about ten percent of what it is now.

Also, we need to start taxing the hell out of the richest one percent of America. The wealth inequality is disgusting.

They should be taxed at the same rate as everybody else, be it 5% or 30%.

 

[katy perry is hot]

I'm not saying don't spend anything, but a good 10 percent of the money that goes there can be terminated.

You're wrong there. It should actually be about ten percent of what it is now.

Also, we need to start taxing the hell out of the richest one percent of America. The wealth inequality is disgusting.

They should be taxed at the same rate as everybody else, be it 5% or 30%.

Why?

 

[Justin M]

I'm not saying don't spend anything, but a good 10 percent of the money that goes there can be terminated.

You're wrong there. It should actually be about ten percent of what it is now.

Also, we need to start taxing the hell out of the richest one percent of America. The wealth inequality is disgusting.

They should be taxed at the same rate as everybody else, be it 5% or 30%.

Why?

I don't think they should be taxed higher simply because they make more money. It feels to me like that is penalizing a person for their success, and will probably encourage them to hide their money in offshore accounts. I think that if the federal government A) cuts down on spending significantly [mainly defense] and reorganizes to become more efficient [look at how bloated the intelligence community alone is] and B) reorganizes tax code into a simpler and more fair structure it will be much better. Just for the record I'm not saying the wealthy should be taxed less, just the same as everyone else.

I'm curious why people are in favor of a higher percentage tax for the wealthy.

 

[katy perry is hot]

Well it's not as simple as that. If you tax all people 20% for example, that's 4,000 dollars off the salary of someone who is making 20 grand a year. That's 70000 dollars for someone who makes 350,000 a year. Is that fair to the person making 20,000 dollars a year? No, it isn't.

It sounds good in theory, everyone pays the same percent, but it simply does not work. What you're doing with that is killing the lower middle class families (if it were 20%, that family bringing in 20 grand will only have 16 grand, they won't be able to afford clothing or food for themself) and letting the rich get off scott free (I'm pretty sure one can get by with 280,000 grand a year just fine).

If you recall, a few years ago, Warren Buffet went and testified to congress about how he supports higher tax percentages for people within his income range. Remember when he said that his receptionist pays a higher tax percentage than he does. The fact is, the rich people in this country pay a smaller percentage of taxes than the people who teach their children do, or the people who clean the floors in their office buildings.

Also, the fact is, it's not like Bill Clinton started this. Tax brackets have existed since the early 1900s. Yes, Reagan did have tax brackets, by the way. Clinton's high tax bracket was 39.5 %, the way the republicans set it in 2002 or 2003 (i forget) was at 35%. Hmmmmm... surplus under Clinton, deficit under Republicans... who was right?!?!?!?

 

[Justin M]

Instead of a flat tax across the board, maybe consolidating the existing six income brackets into two or three would be better. I agree that those at the lowest end should be given a break, and 10%-15% under current law seems to be a good point. The top three tiers could be rolled into one, along with a middle.

I think Buffets example highlights a pretty big flaw with the current code, with higher earners being able to hide or transfer their money to avoid tax. I also think a lot of this can be traced to out of control government spending. FY 2010 sees the federal government spending $1 trillion on the military. Cut back government spending and redundancies and lower taxes for everyone should follow.

 

[Deleted member 1609]

The highest tax bracket should be the richest one-tenth percent (0.1%) at about ninety percent (the average income of that group is three million dollars).

 

[Justin M]

For the richest one percent, it should be more like ninety percent.

Why's that?

 

[Deleted member 1609]

I misspoke. I meant richest one-tenth percent. Nobody needs an income of three million dollars per year.

 

[Justin M]

I misspoke. I meant richest one-tenth percent. Nobody needs an income of three million dollars per year.

Nobody needs that much money, you're right. But that doesn't mean they should pay exorbitant taxes on it either.

 

[katy perry is hot]

I agree with Justin on that. I find that 90 percent of an income is a little too much. To be honest, that would make this country into too much of socialistic system. There would be no very rich people anymore, and that's really what this country is about. The ability to become rich. My belief is not "No one should have three million dollars per year", but rather "Those making very high incomes should be taxed higher than the rest of us in order to balance out the system".
A high tax bracket at around 40 percent is something acceptable. The Clinton administration had it totally right in terms of tax bracket fairness in my view. If you tax a 3 million dollar per year earner at 40 percent, you are taking 1.2 mill from said person, leaving him with 1.8 million dollars. That still keeps the good old American dream intact, and keeps things fair.

 

[Nuke]

I misspoke. I meant richest one-tenth percent. Nobody needs an income of three million dollars per year.

Nobody needs that much money, you're right. But that doesn't mean they should pay exorbitant taxes on it either.

We should be free to make our own money.

Also, in the words of Benjamin Franklin, the poor are better off left to make their own money than aided.

Because if you help a person instead of make them help themselves, they'll be reliant. It's a thing called human nature.

 

[katy perry is hot]

I misspoke. I meant richest one-tenth percent. Nobody needs an income of three million dollars per year.

Nobody needs that much money, you're right. But that doesn't mean they should pay exorbitant taxes on it either.

We should be free to make our own money.

Also, in the words of Benjamin Franklin, the poor are better off left to make their own money than aided.

Because if you help a person instead of make them help themselves, they'll be reliant. It's a thing called human nature.

That's ridiculous. By that logic, we should close all state hospitals because the state is helping people. Fuck that! You should be able to do your own medical stuff, the government doesn't need to help you!

Also, don't use Ben Franklin as a conservative icon please. Don't forget his whole anti patriot act quote 🙂

 

[Nuke]

Nobody needs that much money, you're right. But that doesn't mean they should pay exorbitant taxes on it either.

We should be free to make our own money.

Also, in the words of Benjamin Franklin, the poor are better off left to make their own money than aided.

Because if you help a person instead of make them help themselves, they'll be reliant. It's a thing called human nature.

That's ridiculous. By that logic, we should close all state hospitals because the state is helping people. **** that! You should be able to do your own medical stuff, the government doesn't need to help you!

Also, don't use Ben Franklin as a conservative icon please. Don't forget his whole anti patriot act quote 🙂

That's exactly my point. Companies do things better than Government due to the people owning them.

 

[katy perry is hot]

That's not true at all. Companies have proven over and over how they exploit people for wealth. You can keep going back to that bull all you want, but you and I both know it's not true.