For a change, use this poll and comment space to discuss whether those who can most afford it should be treated the same as the rest of us or should they be treated differently. In other words, ignore the issue of raising taxes vs. cutting spending. That has been discussed to death. This is purely about who pays for what taxes there are. Tied up with this is keeping or eliminating tax loopholes and other things that allow the wealthy to pay less taxes. Discuss!
President Obama will propose that people earning more than $1 million a year pay at least the same tax rate as middle-class earners to help reduce the soaring budget deficit, according to administration officials.
Obama will call the plan the “Buffett rule” after billionaire investor Warren E. Buffett, a supporter of his who recently called the tax system unfair, noting that it lets him pay a lower rate than his secretary does.
The plan would replace the complicated alternative minimum tax, which was enacted decades ago to ensure that the wealthy paid at least some income taxes, according to the officials, who requested anonymity because they were not authorized to discuss the matter publicly.
It’s long past time to return to the 80-90% top tax rates that made the U.S. the economic powerhouse of the world in the ’50s and ’60s. Maybe then we could have a tad fewer bridges ♫ ♫ falling down, ♫ ♫ falling down, ♫ ♫ falling down ♫ ♫, a few more good roads and decent schools. Maybe our soldiers won’t have to armor their vehicles themselves, or pay for their own medical care when injured on the job (whether from combat or not).
There, that ought to be some red meat for the “all taxes are theft” and “fair tax” crowds…
Huh-uh- We should consider both what we spend and where it comes from at once, though it is a challenge.
Stupid poll!
The only sensible thing to do is a flat tax for everyone above USD 250,000, including corporations of 20%! The revenues will increase 100%
Another good reason for a flat tax for everyone.
Great idea! Punitively tax the most mobile in society and see how much extra that’ll actually be collected.
This is purely a PR exercise to create a new common enemy to distract from the real issue, namely that government spending is out of control.
That high earners should be singled out for extra punishment seems counter-productive if the objective is to get the economy out of the doldrums.
Still, seeing that it’s working so well in Europe, why not repeat the mistake?
have you ever thought about it? the republicans (mostly) always complain that government is too bit, yet think nothing of making government bigger with a tax break… (think abut you need a tax rule and then you need an exception(s) to that rule…)
then you have them looking for tax breaks ’cause it will create jobs. imagine that… they should get the reward before they complete the work of actually creating jobs.
arent the effing special?
Consumption tax. That’s it. No other tax. Everybody consumes, rich and poor, so everybody participates.
The rich, who consume more, will pay more.
Oh yeah, and pass a law that if you’re caught shipping your U.S. winnings off shore, “all your bases are belong to us”.
If you got rich here, keep it and spend it here.
You don’t tax people or entities, you tax WEALTH.
If the wealth lies at the top, so be it.
I find it humorous that before the 70’s there was TONS of advancement and prosperity..and the rich paid 4-6 times as much in tax.
I would also like a CLEANUP (a real one) on copyright and ownership.
A return to the OPEN BIDDING structure for State/Gov contracts..
America needs a fat tax. BMI over 25 that will be 50% tax please.
UD, this is a totally specious quesion. Spending is out of control. By you asking the question the way you do, implicitly states that you are totally in support of all the spending that is happening.
As usual, I from Canada has to again point out just how screwed you Americans are.
Corporations will never pay even 20% when they can just do a double Irish with a Dutch or Swiss Sandwich.
Google registered 8.4 billion in 2010. They paid 2% because of this scheme.
If the companies can evade the taxman, so too will their whales.
And as for a VAT to tax the poor, it would also tax the middle and the rich and cause people to buy less and further slow growth.
Cursor_
Obama said in his speech to Congress that this isn’t class warfare. Another lie.
This goes all the way back to the debates with Hillary. What this tax is about is that capital gains are taxed at a lower rate than income, since they are investments made with money that has already been taxed. In that debate Obama was told that lower capital gains tax rates bring in more revenue based on the experience under Clinton and Bush. Obama said he would raise them even if it cost revenue as a matter of fairness.
Seems to me, if you need money, don’t have jobs, then a tax on the wealthy is the way to go. Wouldn’t it be nice if the traitors in Washington would allow some jobs here in the sates so we could all contribute? If they aren’t going to do it the painless easy way then there is only one choice, TAX THOSE THAT HAVE SOMETHING TO TAX. You can’t get blood out of a rock.
The rich people created this mess, the rich people will have to get us out of it.
#1, Uncle Patso said,
“It’s long past time to return to the 80-90% top tax rates that made the U.S. the economic powerhouse of the world in the ’50s and ’60s.”
Yes, by all means, let’s. Of course, that requires that we first DESTROY EVERYBODY ELSE’S MANUFACTURING BASE. The prosperity at high taxes that the Left so loves to mention at that time was a function of the US being the only industrial powerhouse left standing after WW2. Europe was in shambles, as was Japan, and Russia. Most other parts of the world were only just beginning to experience the industrial revolution. That’s why the US was so prosperous at the time, everybody else was too busy recovering from the WW2 hangover – they simply couldn’t compete with America at the time. And the RICH will keep on hiding their money in untaxable municipal bonds.
BTW, we also didn’t have anywhere near as many regulations hamstringing businesses back during that period of time. All the regulations put into effect since then need to be ripped away, too, to ensure that prosperity of which you speak.
#9 admfubar said,
“have you ever thought about it? the republicans (mostly) always complain that government is too bit, yet think nothing of making government bigger with a tax break…”
Try not to confuse increasing the size of government with increasing the size of the government’s debt, which you just did. Also, tax revenue is NOT a static equation where x% increase in the tax level results in an x% increase in tax revenue. Higher tax rates cause people and businesses to change their Taxable Behavior. It’s been proven by historical record that high tax rates supply less revenue than moderate tax rates. Only taxes on gasoline and diesel fuel generally ignore that rule.
They should raise taxes on the poor. Not because of fairness, but because then this will keep taxes low, when everyone is affected.
“whether those who can most afford it should be treated the same as the rest of us ” – present progressive tax system have already dulled our senses to the fact that line above is in direct alignment with Communism (paraphrased): contribute as much as you can, get as much as you need. Communist system have failed and is dead. It is no more. It is Monty Python parrot.
Progressive idiots in the West still attempt to use Communist principles, forgetting the CONSEQUENCES. Such system leads to poverty, corruption and failure.
So, absolutely NO to any tax system based on how much one “can” pay. That is not fair. Such system punishes success and leads to mediocrity and deterioration.
You want one and only fair taxing system? – Tax every person and every corporation the same percentage of their total income, no incentives, rebates, deductions,…
How much? – history points to famous 18% as amount economy can take as a load.
But Government spends more that 18% tax on everyone gets? – shrink equally every department until money spent is less than money 18% flat tax across the board gets. Trivial.
This is just a discussion of whether you are a Marxist or not. “From each according to his ability, to each according to his need”.
Warren Buffett’s company is $1 billion behind in its taxes. He should be ignored until he pays what he already owes.
#18 – MikeN.
0bama is a blithering idiot. You’re paying tax on the after-tax earnings from assets that you bought with your after-tax income. Even Warren Buffett is probably paying an effective 40% tax rate on his personal income from Berkshire Hathaway.
They are the only ones left with any money, they have an unfair advantage in the market and harvest all the middle class pension and 401k money at the first signs of trouble before the middle class ever knows what hits them.
The more you raise taxes, the more the government will spend. It’s a no win situation.
Remember Uncle Joe O’Biden said you can voluntarily pay more to the IRS now. But I’ll bet He, Barry and Warren haven’t payed one penny extra ever.
Also, “Fair Share” is always a matter of perspective and is often used by people who will never be impacted by it.
Michael Moore was excellent. Quite a guy/history behind that goofy overweight exterior.
Good Humor vs Popsicle Patent Law: is it a sandwich or a stick? Milk or Water Based. Yes, all worthy of Government Protection.
Millard Fillmore: ass hat and totally illustrative of why we had a Civil War. Would be totally at home in the Teabag Party.
History. Nothing Changes. Everything has been corrupted to the siren call of personal greed.
Speakiing of personal greed–simply stated, the question is should the Federal Income Tax be flat or progressive? with a subset of why don’t the poor pay more in the name of fairness, and why don’t the rich pay less because…….because……because, well I guess its a fairness issue again?
Well—you know a flat tax on disposable income would be fair–but what does fairness have to say about someone that can’t pay for food/healthcare/education/housing. Fair?
In what upside down topsy turnvy world do you Teabags sip?
Cracks me up ALWAYS: talk about class warfare. When the top 1% -5% own 75% (whatever) the wealth of a society the CLASS WARFARE has already been fought and won by the super rich while the poor were off arguing with themselves about fairness. What goes by the name of class warfare today is the Teabags walking the battle ground and shooting the wounded.
Silly Hoomans. You should be ashamed of yourself. Not proud. And isn’t that the very issue.
#11
The rates Uncle Patso was talking about in #1 went out during JFK’s term. As he indicates, during time of economic hardship very high top rates do not appear to hurt anything. The Remember that we are talking about top marginal rates, as well. It’s a very important distinction that your entire income isn’t taxed at a higher rate once you’ve cleared another tax bracket.
From You:
“brings up the fact that the Reagan tax cuts raised revenue”
That’s not the full picture, from wikipedia:
“The fact that tax receipts as a percentage of GDP fell following the Economic Recovery Tax Act of 1981 shows a decrease in tax burden as share of GDP. Total tax revenue from income tax receipts increased during this time. The economic growth and increase in GDP outpaced the increase in tax receipt revenue, resulting in a slightly reduced tax burden as a percentage of GDP for the economy.”
http://en.wikipedia.org/wiki/Reaganomics
#20
“BTW, we also didn’t have anywhere near as many regulations hamstringing businesses back during that period of time. All the regulations put into effect since then need to be ripped away, too, to ensure that prosperity of which you speak.”
That is complete bullshit. Nixon set up the EPA and OSHA. Market fundamentalism came later, and has NEVER worked as advertised.
The worst of the BS is the repeal of Glas Stegal that lead directly to the Financial Blowup of 2008 and our current depression.
Yes, surely, the Teabagging Pukes think blood from their own juggular vein is ice tea. Not important to think about when spilled.
Total buffoons all.
Silly Hoomans.
That we have to have this discussion just shows how messed up we are. Money should be taxed once only. Everybody should pay the same rate of taxation. No breaks, just a flat percentage whether its a dollar or a billion. If you are a US citizen and you receive money, you pay the tax. If you are an overseas interest and you sell goods or services in the US that should be taxed. And paid for by said outside interest. It ought to be simple enough for a first grader to grasp.
If you want to talk about the deficit and public works, lets talk about spending waste. My child’s school cant afford a music program but we vaporize billions on government contracts with little or no returns. Cut the size of government by all means but lets not forget that agencies that employ people are creating jobs and boosting the economy too. At least there is the possibility of oversight unlike the contractor scams that are so prevalent these days. When we stop being crooked and stupid, the rest will take care of itself.
Raise my taxes. Don’t really care. You’ll just pay more for my product. There’s a reason the Founding Fathers didn’t put income taxes into the Constitution. Producers don’t pay taxes; consumers do.
The wealthy SHOULD pay more taxes. Would all these wealthy people have made so much money in OTHER countries? It just a coincidence that all this wealth was made in a county whose infrastructure supports commerce? And what pays for that infrastructure? Do you think it would happen by itself if taxes and government were not there to make it happen?
If the wealthy are such smart “job creators” why not let them go to some impoverished 3rd world country and let them make a fortune!
Also, if taxing the wealthy “job creators” is bad for job creation, why has their performance in this area been so poor the last 10 years? What a crock!
The wealthy seem to think they live in a vacuum. How much money would any of them have if all the poor and middle class did not purchase their products. Keep making those groups poorer and that poorness will “trickle up” and affect EVERYONE in the country. I am not a communist, but should one man be worth more than a thousand, a million, or hundreds of millions of men. Sorry, but I don’t care how smart they are. They are not worth that much!
Were things really THAT bad during the Clinton era when the wealthy paid more taxes and EVERYBODY’S wealth increased, poor and wealthy alike?
Just sayin’.
Re: “Raise my taxes. Don’t really care. You’ll just pay more for my product. ”
Actually LL, no… I won’t.