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.
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.