Posted on 08/01/2011 6:46:11 PM PDT by yetidog
Forgive me for asking…but what is so wrong about raising taxes to some negotiated extent on the most wealthy taxpayers in the US? While I know this question violates conservative orthodoxy, there are a lot of folks in the US who make a lot of money…some of it easily earned (inherited), some of it by talent (professional athletes), some of it by luck (actors and lottery winners) and some of it by a lot of hard work and perseverance. Now I agree that $250,000 is not the place to start, but maybe 5 million (or some other negotiable figure and percentage) is. And I know that revenue gained from “raising taxes on the rich” is a mere drop in the bucket, but an negotiated agreement to do so would destroy a persistent liberal argument that makes a lot of sense to many voters in the country. Not every rich person is the key to unemployment nor or they particularly deserving of protection because they are among the 5% or so that pay 80% of the taxes. This is not a matter of class envy nor income distribution, rather it addresses about the only rational argument that liberals still have in the ongoing fiscal policy debate.
Were the creators of the U.S. Constitution poor or wealthy?
I think the rich get away with every scam, every loophole, every little trick in the book....BUT...there will never be increased taxes on the rich.....it always falls back on the middle class/working class...someway, somehow, we lose....
Because there is no such thing as a ‘reasonable’ amount for taxing the rich for the Socialists. The more they take, the more they want. They are drug addicts that can never get enough of other people’s money.
Please don’t ask stupid questions like this any more.
Do you seriously believe that if Liberals were handed more money, that suddenly they would spend less?
. First, perhaps, you should explain why it would be "right".
Because the rich can "afford it"? What if they have better ways to use the money? And why do you get to make that decision?
Because the government "deserves it"? Whatever has government done to cause you to think this?
Because the rich should be "punished"? How would that "help" anybody?
[ but what is so wrong about raising taxes to some negotiated extent on the most wealthy taxpayers in the US? ]
Because the “rich” already pay most of Americas income taxs..
Taxing them more would not be “fair”... already its not fair..
Almost 50% of Americans pay Zero taxes....
There is also the fact America is taxed too much by the federal government..
You do know America has THREE governments don’t you...
Federal, State and Local governments.. they are separate governments.. and ALL TAX...
Most people when saying government they mean federal government..
But America would run just fine with NO federal government.. maybe better..
The States operate fine within their borders..
Each State sends $100 (to find a figure) to the federal government and the feds send $10 back to them if they are lucky..
The federal government wastes most of the money thats sent to them..
The federal government is a black hole for revenue(money)..
send it to them.. and it mysteriously vanishes..
I would say you know little about civics.. pity..
Well..broke 100 replies on a vanity post that resulted in about 75% personal attacks with the remainder consisting of some very thoughtful and courteous replies. I do hope that my intentionally provocative post had the benefit of emphasizing taxation inequities and the need for revenue reform along with a big reduction in governmental spending. BTW, I am perfectly aware of the fact that 48% of Americans who do not pay taxes should and that the shopworn notion of “my (immoral) hand in your pocket” is not a matter of raising taxes on the rich, rather it is a reality that has been with us since the institution of a progressive income tax in the US
What, not fair you say? Then why do we have a progressive tax where the rich get robbed of their hard work while half the country doesn't pay taxes but get to vote? Now that's not fair!
Actually there’s an even more clear reason for why the idea of ‘tax the rich’ is inane- it won’t work.
Tax hikes on upper earners never raise nearly as much revenue as projected. This is because rich people generally aren’t dumb. Even if they do happen to be dumb (maybe some athletes or actors), they generally hire people who aren’t dumb.
When you make the big moolah, it is well worth your time to avoid taxes. This is why we have tax lawyers who specialize in reducing tax burdens and make big bucks doing so. As others have mentioned in the thread the process of the rich avoiding taxes generally leads to misallocation of capital and you end up with less growth. Hence you end up with revenue shortfalls for two reaons.
Thomas Sowell covered this pretty clearly:
Oh wait--we tried that once, and ended up with feudalism.
A little hint: there's a difference between studying history and watching flicks or TV. It does show.
How many of them were holders of titles of nobility?
[Therein lies a hinty for all you crusty original-understanding types.]
My tagline may answer your question
Two reasons why we should not tax the rich. First, it will tank the economy. Taking capital out of the free market means less investment dollars that create jobs. This is basic economics. Second, the insatiable appetite of the government will demand more, and the income of the middle class will be next.
You of course, have nailed it on the head. You have identified the ultimate goal — get as much of everyone’s money as you can.
The top 1% earn 20% of the nation’s income yet pay 40% of the income taxes. Their taxes should be cut in half.
Also, how many people are hired by the poor?
I think you had better check your history. Feudalism developed as a means of self-protection. Your analysis is way off base.
And therein lies the problem. Perhaps we should solve the problem by eliminating the situation that put us in this predicament in the first place.
I’m with you. We need more money or those mosques we’re rebuilding in Turkey and other mid-eastern countries won’t get built and those countries won’t like us anymore. /s
Yes, and companies move offshore to avoid punitive tax rates and then the corporations are demonized for cutting emploees to avoid rhe highest corporate tax rates in the world.
Taxing the rich? You can’t tax wealth, ie inheritance. And if you tax the so called rich, you hit businesses. Business will leave the country, as your so called rich pay most of the tax now!! Further, ev4en if you taxed ALL the so called rich in the entire country 100%, it would not pay the budget for one year.
Taxing job creators is just making the job situation even worse. You do understand that what a person/or business “makes” is not what they take home don’t you? Most small businesses are lucky if, as the owner, they can support the families on what is left after payroll, taxes, regulations, healthcare for the employees, SS for their employees, WC for the employees, AND get supplies to continue making whatever they produce? Just to name some of their expenses. Tax them, you put people out of work. Large companies have much more overhead, tax them, they leave the US.
Ditto!
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