Nobody Knows How Much is “Fair” to Tax the Rich

Principles & Policy ^

[Sark]

So far, Republican presidential nominee Mitt Romney has done a remarkable job of sticking to his message, focusing on economic growth, job creation, and now repealing ObamaCare. President Barack Obama, on the other hand, has largely run a campaign of distractions, using an “issue of the week” approach to attack Romney and to draw media attention away from his controversial record and the ailing economy. However, if you had to pick out a more substantive message for his campaign, it would have to be “fairness.”

President Obama has hammered on the point of “fairness” over and over since campaign season began last fall. In one of his better-known speeches, the president laid out a clear picture of his “fairness” agenda:

“I believe that this country succeeds when everyone gets a fair shot, when everyone does their fair share, and when everyone plays by the same rules.” – President Barack Obama, campaign speech at Osawatomie, Kansas, December 6th, 2011.

[svcw]

The ‘rich’ already pay more than their fair share.

Most recent (2009) IRS/CBO numbers:

Top 5% of wage earners make 35% of income pay 59% of federal taxes

Which means that the bottom 95% make 65% of the income and pay 41% of federal taxes.

(As a side note, top 5% starts at $112,000)

[null and void]

10%, the same as for the poor and middle class...

[dfwgator]

Halt! Halt!

Gentlemen, ladies, bring out your valuables please. Come along sir, come along. Come along, madam, come along. Oh, is that all you've got? ... Well, he's got much more than you ... so you'd better have some of his ...

(He transfers money from one passenger to another. He drops some...)

... Sorry... pick them up in a moment... there's about, oh, what, nine down there... so you must have about... oh, he's still got lots... oh you've got what? ... You've got more than he started with... so if I give you some of those (transferring more coins) ... well now, look ... have you got a bit of jewelry? If I give you that one and you have some of his coins...

... Is that another box? Were you trying to hide it? Well, that's nice! Right! Now. I've got a tiara ... you've got one... you've got one of the boxes... you've got one... anyone else got a tiara? Take your hat off! (passenger does so to reveal a tiara)... Oh, honestly, it's absolutely pointless trying to do this if you're going to cheat. It really is awful of you...

[a fool in paradise]

Will Smith THOUGHT he knew how much was a fair amount for the rich to pay (30%)...

Until he found someplace (France) where they actually confiscate a so-called "fair share" of income (75%).

[Crazieman]

Easy. No income, property, or payroll taxes.

Retail sales tax only. Period.

[fish hawk]

Bill O’Reilly knows. Yesterday he said that it is criminal to tax ANYBODY over 40%. That would include State and Federal combined.

[ElPaseo]

I recall the interaction when a reporter asked Jane Schakowsky how much money should a citizen be allowed to keep.

She refused to answer it.

[SunkenCiv]

Thanks Vintage Freeper for posting this:

[FreedBird]

The Big Shots in the Media and Hollywood Actors should be taxed the highest amounts up to 85% of their income.

[Opinionated Blowhard]

Sure they do. “More, More, More!!!!!” is the rich’s “fair share” of taxes.

[SES1066]

“Fair” is meaningless in this context. Obama is using it as an absolute value for an emotive hanger to a class warfare attack. Good journalism would bring this to the light of day but that would require knowledgable journalists and a desire for intelligent discussion of real issues. Not something to be found in the rampant bias of today’s monochromatic MSM.

[meyer]

Oh, I know what’s “fair”. Fair is that everyone pays the same rate, 10%. Alternatively, fair is that everyone pays the same amount, say $5000 per year. No exceptions.

[Born to Conserve]

The best thing to do is not tax them at all, that way they will spend and invest their money here, in the USA.

[SoothingDave]

The “fair” amount for the rich to pay is just a little bit more than they paid yesterday and just a little bit less than what will be “fair” next week.