They already pay 92% of the taxes. How much more do they need to pay? Taxing them just make them raise the prices and it filters to us anyway - waist of time.
Show me some real statistics, anyone can say "Well the rich pay 92% of taxes" but without saying which taxes that number means nothing. The poor pay a greater percentage of the social security tax, and a greater percentage of their income in general goes to taxes. The poor pay the majority of all taxes, the rich only pay the majority of sales taxes.
So lets hike the sales taxes through the roof and get rid of the social security and income taxes so the rich can actually pay 92% of all taxes.
What I still don't get is why folks are so hot on upping tax rate on the very folks that are capable of hiring employees? Isn't the whole point in getting a sagging economy turned around to get the unemployment numbers down? Last I checked, social programs don't hire people.
I still don't get why rich people would invest their money in expanding businesses if no one can afford to buy anything. Which is better, giving the money to the rich for them to invest in products they think people will buy; or giving the money to people to spend, and thereby directly showing what products they are interested in buying? The dot com bubble was all about people investing in businesses that had no customers; did the Bush administration think this was a good thing?
So why would rich people stop hiring just because they have to pay taxes? So far, given the millions of jobs that have disappeared over the last few years, I'd say cutting taxes for the rich does not create jobs.
I find it very interesting that we're told we must all sacrifice and work extra hard in this tough economic environment. We don't need extra money, we're just happy to have a job. Yet this sort of thing doesn't work with the rich; they need cash for motivation.
Which is better, giving the money to the rich for them to invest in products they think people will buy; or giving the money to people to spend, and thereby directly showing what products they are interested in buying?
The fundamental problem with your theory here is the notion that a tax cut is "giving" people money. It's not; it's "not taking away". If you're cutting taxes, those that pay the most should be getting the biggest break. People who pay little or no taxes should, logically, get little or no b
Well, since the tax cut is financed by a deficit, it is giving money away; or more correctly, transferring money from future taxpayers to today's taxpayers, with a little extra interest paid to the rich (and foreigners) who are financing the cut.
As far as "reeking" of redistribution, what's wrong with that? Aren't we all part of a society? Aren't the strong supposed to help the weak? Shouldn't the lucky help the unlucky? Why shouldn't the rich help the poor?
Tax cuts aren't "financed" by *anything*. Government programs are financed by taxes and the sale of government bonds. The people benefiting from the government programs (or at least the ones approving the budgets) are the ones "transferring money from future taxpayers", not the current taxpayers. It's a little more than troubling to hear some insisting that the federal budget has a tax cut listed on the expenditures side of the federal ledger.
Well, since the tax cut is financed by a deficit, it is giving money away; or more correctly, transferring money from future taxpayers to today's taxpayers, with a little extra interest paid to the rich (and foreigners) who are financing the cut.
The deficit is financing government spending, not the tax cut. The notion that tax cuts are "paid for" by the government implies that it's the government's money, not the taxpayers. But anyway, the real issue here is tax revenues vs. gov't spending. If the gov't i
Historically the Rich don't help our the poor. The history of the world is one where gradually the wealth concentrates more and more until the entire wealth of a country is controlled by a handful of families. What follows is a bloody revalution where the rich are killed and the money is redistributed in one big shot and the cycle starts again.
Today we have learned from history. We have set up social structures whereby the natural tendency of money to concentrate is stemmed by r
As far as "reeking" of redistribution, what's wrong with that? Aren't we all part of a society? Aren't the strong supposed to help the weak? Shouldn't the lucky help the unlucky? Why shouldn't the rich help the poor?
First of all the "rich" do give to the "poor", otherwise the total charitable contributions in a given period would be zero. What else is a charity than the "haves" giving to the "have nots"?
But where in the government charter is it written that the weak are supposed to confiscate (by forc
Well, I think that you are only partly responsible for your success. Not all of your success is due to your own efforts; some part of everyone's success consists of luck, of genetics, of parents, of just being in the right place at the right time.
I think most rich people are luckier (to give a name to the collection of all unearned advantages) than most poor people. People ought to contribute to society based on how much of a sacrifice it is to them. I think that as a rough average, it is easier for ric
Well, I think that you are only partly responsible for your success. Not all of your success is due to your own efforts; some part of everyone's success consists of luck, of genetics, of parents, of just being in the right place at the right time.
Except you can't control that stuff, so why worry about it? I'm not a model, I'm not very athletic, so I didn't go into modeling or become an athlete. Surely Jennifer Lopez was blessed with some genetic features that I don't have, and she's used what she has t
What's so complicated about a progressive tax system? There are a lot of valid arguments against a progressive system, but complexity isn't one of them. Under a progressive system, you figure out what your taxable income is, then you apply different rules based on what income range you fall in. Sure it is easier to multiply by a constant factor, but I don't see how it is that much harder to do a table lookup to determine which of many factors to apply.
The complexity of the tax system is the loopholes add
Which is better, giving the money to the rich for them to invest in products they think people will buy; or giving the money to people to spend, and thereby directly showing what products they are interested in buying?
How about this: give it to them both! Phasing out the income tax will to amazing things to bring the government sprawl into check along with empowering people with an additional wad of cash to call their own.
There was a report a while back that said almost unanimously that people expecte
What we need to combat this... (Score:2, Insightful)
A tax cut for the rich! That's a swell plan for redressing society's woes!
Re:What we need to combat this... (Score:1, Insightful)
which taxes? Income taxes? Social Security tax? (Score:2, Interesting)
Show me some real statistics, anyone can say "Well the rich pay 92% of taxes" but without saying which taxes that number means nothing. The poor pay a greater percentage of the social security tax, and a greater percentage of their income in general goes to taxes. The poor pay the majority of all taxes, the rich only pay the majority of sales taxes.
So lets hike the sales taxes through the roof and get rid of the social security and income taxes so the rich can actually pay 92% of all taxes.
Re:which taxes? Income taxes? Social Security tax? (Score:5, Informative)
I'll show you mine... now you can show us all yours. Just gots to love Google for hunting this stuff down.
Who pays the piper? [usnews.com]
Who pays income taxes? [ntu.org]
Income Tax: Who Pays? IRS Figures for 2000 [rushlimbaugh.com]
What I still don't get is why folks are so hot on upping tax rate on the very folks that are capable of hiring employees? Isn't the whole point in getting a sagging economy turned around to get the unemployment numbers down? Last I checked, social programs don't hire people.
Re:which taxes? Income taxes? Social Security tax? (Score:5, Insightful)
So why would rich people stop hiring just because they have to pay taxes? So far, given the millions of jobs that have disappeared over the last few years, I'd say cutting taxes for the rich does not create jobs.
I find it very interesting that we're told we must all sacrifice and work extra hard in this tough economic environment. We don't need extra money, we're just happy to have a job. Yet this sort of thing doesn't work with the rich; they need cash for motivation.
Re:which taxes? Income taxes? Social Security tax? (Score:2)
The fundamental problem with your theory here is the notion that a tax cut is "giving" people money. It's not; it's "not taking away". If you're cutting taxes, those that pay the most should be getting the biggest break. People who pay little or no taxes should, logically, get little or no b
Re:which taxes? Income taxes? Social Security tax? (Score:2)
As far as "reeking" of redistribution, what's wrong with that? Aren't we all part of a society? Aren't the strong supposed to help the weak? Shouldn't the lucky help the unlucky? Why shouldn't the rich help the poor?
Re:which taxes? Income taxes? Social Security tax? (Score:1)
Re:which taxes? Income taxes? Social Security tax? (Score:2)
The deficit is financing government spending, not the tax cut. The notion that tax cuts are "paid for" by the government implies that it's the government's money, not the taxpayers. But anyway, the real issue here is tax revenues vs. gov't spending. If the gov't i
Re:which taxes? Income taxes? Social Security tax? (Score:2)
Historically the Rich don't help our the poor. The history of the world is one where gradually the wealth concentrates more and more until the entire wealth of a country is controlled by a handful of families. What follows is a bloody revalution where the rich are killed and the money is redistributed in one big shot and the cycle starts again.
Today we have learned from history. We have set up social structures whereby the natural tendency of money to concentrate is stemmed by r
Re:which taxes? Income taxes? Social Security tax? (Score:0)
both arguments are good.
but what about the middle class?
Re:which taxes? Income taxes? Social Security tax? (Score:2)
Unforseen consequence? No not really. The middle class is the class I am talking about.
Re:which taxes? Income taxes? Social Security tax? (Score:1)
First of all the "rich" do give to the "poor", otherwise the total charitable contributions in a given period would be zero. What else is a charity than the "haves" giving to the "have nots"?
But where in the government charter is it written that the weak are supposed to confiscate (by forc
Re:which taxes? Income taxes? Social Security tax? (Score:2)
I think most rich people are luckier (to give a name to the collection of all unearned advantages) than most poor people. People ought to contribute to society based on how much of a sacrifice it is to them. I think that as a rough average, it is easier for ric
Re:which taxes? Income taxes? Social Security tax? (Score:1)
Except you can't control that stuff, so why worry about it? I'm not a model, I'm not very athletic, so I didn't go into modeling or become an athlete. Surely Jennifer Lopez was blessed with some genetic features that I don't have, and she's used what she has t
Re:which taxes? Income taxes? Social Security tax? (Score:2)
The complexity of the tax system is the loopholes add
Re:which taxes? Income taxes? Social Security tax? (Score:2)
Which is better, giving the money to the rich for them to invest in products they think people will buy; or giving the money to people to spend, and thereby directly showing what products they are interested in buying?
How about this: give it to them both! Phasing out the income tax will to amazing things to bring the government sprawl into check along with empowering people with an additional wad of cash to call their own.
There was a report a while back that said almost unanimously that people expecte
Millions of jobs were created. (Score:0)
In India, China and other countries millions of new jobs were created over the past few years.
Also government has grown bigger, alot of government jobs were created as well.