The Popularity Of Tax Cuts

First of all, if you are one of the SUPER wealthy in this country, you should be taxed more than lower and middle class Americans. its not "punishment" but the fact is, that anyone who has a billion or more dollars did not earn that by their own merit. Anyone who says that is full of shit. They earned it on the backs of under-paid Americans.
Also, the fact that the LARGE MAJORITY of money in this country is within the hands of a VERY SMALL MINORITY of wealthy people means that they are tying it up and its not getting into the economy.
Lets put it this way...Lower and Middle class workers in this country, compared to the super wealthy, spend all of their money, putting it back into the economy. They ARE TAXED on all their money, because they SPEND IT ALL!! the extremely wealthy earn rediculous interest rates on huge sums of money, they lobby to protect their greedy interests, and what we have as a result is an aristocracy...
the only way they have succeeded in duping middle class citizens into believing that economic policies which benefit the rich are good, is by selling them the idea of the American dream. People think "One day Ill be as rich as them, and I wouldn't want to pay all those taxes" but the truth is, you will NEVER be that rich, and we need to start considering the people who are in trouble, which is the lower/middle class.

 

And yet history, reality and economics show you to be 100% wrong. go figure.

 

hmm how bout you show me any fucking proof that what you say true?

 

Actually, corporations consume more services than individual people.

I personally have used the court system only a handful of times in my life, primarily paying traffic tickets and jury duty. How many times has IBM been sued or has sued someone else in the last 44 years ?

I use the highway to goto work every day, how many trucks does Walmart have on the road every day, hundreds ? thousands ?

I have no copyrights or trademarks, how many copyrights and trademarks does Disney file every year ?

I got an education through the public school system, but doesn't every single coporation in this country have access to millions of educated people in work force ?

They are not recieving the same services I am, they are recieiving more benefits from government services then I ever will, so why shouldn't they pay a higher rate ?

 

How did the wealthy get wealthy? Don't rich people that own businesses have to make use of money to help them to produce all the goods that the middle and working class will be spending on? Who's producing the things that matter to those working and middle class people?

 

Are you saying that you think the richest people in the country don't tuck away millions upon millions? that they actually live paycheck to paycheck? I dont understand what your point is...

How did the wealthy get wealthy?? with a lot of help from society thats how. And many of them are wealthy because of old money, which has been sitting around accruing interest for generations.

 

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If you check the profile of some of America's wealthiest they are largely represented by business owners/producers. They produce what the working and middle class are consuming.

If you're complaining about them tucking away millions upon millions as far as tax dollars then that's one reason many advocate for a flat tax. The rich will always find some way to avoid some taxation. A flat tax rate would reduce that because it will be smaller and less complex than a progressive tax system.

 

explain "tuck away" please.

 

I just mean mass amounts of money that they don't spend.

 

How does this in anyway abdicate their responsibility to pay their fair share of the taxes ?

 

The problem with the flat tax is a single man making 40K a year has a very different financial situation than a man married with 3 children. That aside, I would have no problem with a flat tax as long as it applied to all income and not just earned income. Inheritance, capital gains, Interest and dividend income should also be taxed. I would also want the starting point tied to the Social Security cap, you should not have to pay even a penny of tax until your income exceeds the Social Security cap.

 

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I think when analyzing the flat tax the results of countries that have implemented them should be taken into account.


Slovakia shines, Hungary sags in region out of sync


Reuters Thursday February 14 2008 By Jan Lopatka

PRAGUE, Feb 14 (Reuters) - The Slovak economy roared ahead at record speed in the fourth quarter while Hungary slid toward stagflation and Czech data raised inflation worries, exposing how different policies affected the central European neighbours.

Slovakia, whose previous right-wing government kick-started investments and growth by slashing taxes and liberalising the labour market, reported a whopping 14.1 percent year-on-year expansion in the fourth quarter, far beyond any forecasts.

"The Slovak flat tax and its commitment to euro adoption probably has helped to generate more FDI (foreign direct investment), whereas in Hungary FDI is being deterred by relatively high wage growth... and maybe higher tax regime," said Lucy Bethell, macroeconomist strategist at the Royal Bank of Scotland...

Guardian UK

 

There's no doubt some people have done their homework when it comes to economics.

A flat tax could work. The complicated tax structure we have now seems to provide the rich with more loopholes than liabilities.

What is best for the bottom line economically isn't necessarily what's best for humanity. You might wanna factor that into that model of yours that defines what's important.

 

All real estate is a tax deduction for income tax purposes.


The whole idea of the McMansion is to throw off deductables. Which are then
written off for federal tax puposes. Local goverments love it because homeowners get to view spending as deductions. Realtors & Bankers love it cause it feeds thier system.

Progressives advocate higher tax rates, but then the McMansion just throws back the deduction.

Capping R.E. tax deductions on the IRS 1040's will throttle back wastefull investment in over-large homes. Its hard to duck or hide real estate, so tax will be paid. People will start to pay attention to what local taxes go for and put some accountability into the system.