624 replies to this topic

[Prolite]

Agreed. The rich earned their money, so they deserve to keep it.

How much of it? And how much of it in percentage to everyone else?

[wjfox]

How about we make a flat tax rate? The rich pay a very high rate in income tax. Make everyone's rate the same so that it's not unfair.

Taxes for the rich have been going down and down since the 1960s.

Although taxes for the poor have remained fairly static, wages have also remained flat, even as living costs have soared.

It's partly why your country is so fucked.

And now you're suggesting that rich and poor taxes should be equal? That's utterly insane.

[Zachemc2]

The rich pay a very high rate in income tax.

Taxes for the rich have been going down and down since the 1960s.

Although taxes for the poor have remained fairly static, wages have also remained static, even as living costs have soared.

It's partly why your country is so fucked.

Even if they are going down, the rich's tax rate is still more than double that for the lowest bracket. We should have everyone pay 9% income tax.

[Zachemc2]

And now you're suggesting that rich and poor taxes should be equal? That's utterly insane.

It's unfair. Why should you pay a higher rate just because you are successful? See that I didn't say "higher pay". It would be just if someone earning $20k a year pays $1800, while someone earning $20,000,000 would pay $1,800,000, not $3,200,000.

[Caiman]

It would be just if someone earning $20k a year pays $1800, while someone earning $20,000,000 would pay $1,800,000, not $3,200,000.

Because someone earning 20 million will miss 3.2 million a lot less than someone earning 20k would miss 1.8k.

[Prolite]

Making the rich pay an extra 30 dollars more on every 1000 dollars earned is not class warfare, nor is it income redistribution. My country is already headed towards an aristocracy; a country owned and controlled by the wealthiest people and businesses. Complaining about class warfare for a rise in 3% in taxes on the rich is elitism and should not be accepted or tolerated by any middle class or working poor individual. That extra 3% of money is reinvested back into our country, our people, and our way of life. It fuels progression.

This explains it ALL:

[Prolite]

The entire GOP should look up to this man as a saint, an individual of great character poise:

"Would you please raise my taxes?"

[jjf3]

Hahaha Obama is forever exempt from paying taxes! He was first a senator and now he is forever linked with the title of President. President and senators are not taxed!!!! Obama has never held a real job in the real world he has always been in the government spreading his own agenda.

[Roh234]

The entire GOP should look up to this man as a saint, an individual of great character poise:

"Would you please raise my taxes?"

Its a PR stunt.

[Roh234]

Besides who want to pay higher taxes.

1) You could always send in a check to the IRS.

Its a PR stunt because the loopholes would still there. Raising 10% on $0 in taxes is still 0. Income tax is not the problem its the capital gains tax and corporate tax.

[Prolite]

Besides who want to pay higher taxes.

1) You could always send in a check to the IRS.

Its a PR stunt because the loopholes would still there. Raising 10% on $0 in taxes is still 0. Income tax is not the problem its the capital gains tax and corporate tax.

It's not a PR stunt when the President is trying to push an agenda: raise taxes on those making 1 million a year or more. A public relations stunt is something that's a gimmick. The President isn't selling a gimmick. He really wants to raise taxes on millionaires and above, and I applaud him 100% for that, and I'm a business owner. That should have been the first thing he did when he stepped into office.

In terms of loopholes, you're right, they still exist because Republicans in Congress and a good amount of Democrats in Congress are completely corrupt. They're lobbied up the gazoola. <-- I made that word up.

Isn't capital gains at 15%? which explains why rich people's investments pay less in taxes than us poor folk?

[Roh234]

Besides who want to pay higher taxes.

1) You could always send in a check to the IRS.

Its a PR stunt because the loopholes would still there. Raising 10% on $0 in taxes is still 0. Income tax is not the problem its the capital gains tax and corporate tax.

It's not a PR stunt when the President is trying to push an agenda: raise taxes on those making 1 million a year or more. A public relations stunt is something that's a gimmick. The President isn't selling a gimmick. He really wants to raise taxes on millionaires and above, and I applaud him 100% for that, and I'm a business owner. That should have been the first thing he did when he stepped into office.

In terms of loopholes, you're right, they still exist because Republicans in Congress and a good amount of Democrats in Congress are completely corrupt. They're lobbied up the gazoola. <-- I made that word up.

Isn't capital gains at 15%? which explains why rich people's investments pay less in taxes than us poor folk?

You forgot Corporate tax.

We should scrap corporate tax and raise Capital gains to 35% or 33% for taking risk.

EDIT: We should also get rid of losses from the previous fiscal year credit. That is the main source of loopholes.

Edited by Roh234, 02 October 2011 - 11:52 PM.

[Prolite]

If you get rid of writing losses from the previous fiscal year off, than small business owners like myself would be hit big time with extra expenses. BIG TIME. That would be an enormous tax increase on everybody, and it would kill the economy. We're talking anywhere from at least 1000 dollars a year to hundreds of thousands of dollars of tax increases. We should make those who aren't paying any taxes at ALL like Exxon mobile and General Electric, pay taxes like everyone else. General Electric was able to write off almost all of it's losses last year because of the 2010/2011 deal the President made with 'John asshole Boehner' in Congress.

[Unrequited Lust]

A flat tax is the only moral choice in that the law should treat everyone equally, regardless of race, gender, sexual orientation, and yes, income level.



Americans spend $400 billion preparing for taxes every year. Instating a flat tax automatically adds $400 billion in stimulus to the economy. The government doesn't have to lift a finger.

Historically, no matter how high the tax rate is, tax revenue has ALWAYS remained at around 18.5% of the GDP, never exceeding it. An 18.5% flat rate gives the government the highest amount of revenue. All the money you let people keep is stimulus. All that extra revenue can be spent on paying off the national debt to regain confidence in the dollar.

The billionaires asking for higher taxes are blowing smoke. There is nothing preventing them from donating to the US Treasury.

[Prolite]

The billionaires asking for higher taxes are blowing smoke. There is nothing preventing them from donating to the US Treasury.

This line being used by Republicans is a gimmick and you know it. Donating money to the US government by very few individuals won't do a thing to help our national debt. What's needed is national LEGISLATION and TAX POLICY, not this "well if you want to pay more taxes, why don't you just write a check" gimmick. In fact, that comment alone is elitism and downright offensive, simply because it doesn't solve the problem and it just throws the argument back in the face of people in this country who are tired of paying all the bills for the rich.

And that line is also a Republican talking point.

[jjf3]

Donating money to the US government by very few individuals won't do a thing to help our national debt.

Oh I see you finally get it!!!! there are way more poor than there are rich!!! Taking some amount of money from the rich and giving it to all the millions of poor people isn't going to work either!

But I agree there needs to be a stable national tax plan and we need to re-do our tax code. That's why I don't see a problem with Herman Cain's 9-9-9 plan.

[Time_Traveller]

Shares fall as Greece says it will miss deficit targets

European stock markets opened sharply down on news that Greece is likely to miss targets to cut its deficit.

From http://www.bbc.co.uk...europe-15145292

Well thats what we need stock markets down again, Glad when it gets back to normal.

[wjfox]

Glad when it gets back to normal.

Everyone just assumes it will. But what if things never get back to "normal"? Greece is clearly finished, and will drag the rest of Europe down with it. The USA has vast, vast levels of debt. China is in the midst of the biggest property bubble in history. The Middle East is a tinder box. All of this coincides with dangerously high food and energy prices which are only going to get higher. A massive global depression is looming.

[Time_Traveller]

Maybe at the Mid-End of my life then.

[Wesfky]

your country is so fucked.