The Rich and Taxes

Discussion in 'Politics' started by Salty, May 11, 2010.

  1. Salty

    Salty
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    In a thread about political positions Paul reccomends that anyone who makes over $250 K a year should pay additional taxes.

    First, how do you benchmark that figure.
    Second- would that be for the entire country -
    In DC or NY City 250k is basically middle class
    and in some areas 100K would be considered rich
    Third - is the 250 for Singles or married couples - what about kids?
    Fourth - should State and Local taxes be deducted from the 250? - B$ additional taxes?
    Fifth - should property taxes be deducted?
    an influental businessman in the Greater Syracuse area paid $18,749 in property taxes for the county, school and town last year. - So the next time someone tells you the rich dont pay taxes, just tell 'em they are nuts
    Fifth - Are you aware of the A.M.T
    Sixth - if the rich are currently paying - say 20% of thier income to taxes, and a poor person only pays - say 5% - how is that fair?
    Seventh - who in this county pays the higest % of Federal income taxes
    check out this link it will also tell you what % of WORKING Americians pay NO income taxes.

    By the way, I am no way in the rich class - but I do believe that everyone should pay taxes and that is why I believe the US should do away with ALL other taxes and use only the AUTO Tax
     
    #1 Salty, May 11, 2010
    Last edited by a moderator: May 11, 2010
  2. poncho

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    I heard some where that when people pay less taxes the government actually collects more revenue. This sorta makes sense because when people pay less in taxes they have more to invest in their business. And when they invest more in their business they create more jobs which in turn creates more taxpayers!

    I say cut taxes and let those who actually create jobs and taxpayers do what they do best, namely create more jobs and more taxpayers to pay taxes!

    I know it's too simple of a concept for the big government statists amongst us to grasp.
     
    #2 poncho, May 11, 2010
    Last edited by a moderator: May 11, 2010
  3. annsni

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    Honestly, I like the idea of a flat tax. This way if you make more, you pay more, you make less, you pay less. You are quite correct that $250,000 for a family in NYC is quite different than a family in Podunk America. What I pay in property taxes here in NY is what other families live on in other parts of the country!

    The issue with giving more tax to the rich is that you then have incentive for hiding income, moving out of the country or some such. Tax in a particular state and you have a migration of employees moving out. Why punish making decent money? When my husband sold his business, a full 1/2 of his profit went to the government. Now he didn't get any grants to start this business and never got a loan for it either but the government took over a million dollars right off the top. NOT a great incentive to do well in business, I think.
     
  4. Revmitchell

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    Honestly it amazes me that such thinking even exists in the United States of America. Simply amazing
     
  5. Thinkingstuff

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    When the income tax first came out in 1913 only the top 1% of income earners actually qualified to pay takes. So this view has always been there.

    I don't find the AMT fair. However, the privilaged class can afford to divest their wealth in such a way that the % base of their income can be less than that of people who pay by chart. The fact they they pay more dollars may be irrelevant if the total dollars payed by the wealthy is 5% of their income. Where as the regular middle class guy is paying close to 33 percent of their entire income.
     
  6. RAdam

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    It is covetousness, plain and simple. "He has more money than me, so tax him!" I don't care if someone is making a bunch of money. Bill Gates, go ahead, more power to you. God has given me all I need, He has been good to me and my family. Paul said that some thought gain was godliness and told Timothy to avoid those people. Paul then stated that contentment with godliness is great gain. It's time Americans were content with what they had instead of trying to steal it from other people.
     
  7. billwald

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    The IP actually supports the point that the US is to large and to diverse to govern equitably under one central system. The obvious solution is to repeal the Constitution and start over with the Articles of Confederation.

    Your "auto tax" would not collect taxes from dope and gambling money. I propose eliminating cash money and imposing a 1% electronic transfer tax.
     
  8. poncho

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    I propose we go back to a constitutionally limited government where the idea of a tax on income was unthinkable. But what do I know? I didn't grow up at the knees of big government statists in either party.

    I sorta had to sort things out on my own. Whoa is me.
     
  9. Salty

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    Bill, I actually agree with your ET Tax, but the % might be too high ! So in essense "poor people" with no credit cards or checking account would pay no tax.

    Poncho, I agree with you, we should not tax only income. What do you think of the electronic tax?
     
  10. Deacon

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    I'm not against progressive taxation...but there's got to be a limit.

    ...and I think that's been met.

    I personally believe government ought to be put on a diet.

    • Term limits
    • Eliminate double-dipping pensions
    • Make government workers and Congress subject to the same laws as real people (particularly regarding health care benefits)

    Rob
     
  11. preachinjesus

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    Doesn't make sense to me asking successful people to carry an extra burden on behalf of society that they are helping. I'm all for a flat tax across the board, anyone under the poverty line doesn't pay taxes, and a Constitutional amendment that requires a balanced budget every year or Congress is fired and new representatives are appointed by state governors.

    We need less, dramatically less, federal government. We need to force them back down to a reasonable size.
     
  12. Salty

    Salty
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    :thumbs: :applause: :thumbsup:
     
  13. billreber

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    I agree with most of what preachinjesus said. However, I would not exempt those below the poverty level. Make the tax percentage (maybe 1%?) universal, regardless of income level, for everyone. That way, EVERYONE would understand that EVERYONE ELSE was paying their fair share.

    Bill :godisgood:
     
  14. Mississippi John

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    That makes three of us ! :thumbsup:
     
  15. billwald

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    >Eliminate double-dipping pensions

    A pension is deferred compensation that a person earns. He "unearns" by taking a new job after he retires?
     
  16. Salty

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    Would that include a govt retiree who then gets a job in the private sector?
     
  17. billwald

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    >Would that include a govt retiree who then gets a job in the private sector?

    Yes! When I hired on with the City of Seattle part of OUR deal was that I would be paid a pension of 2%/year after 20 years. A deal is a deal. I put my time in and the city and the taxpayers owe me the money. What I do with my time now is none of the city's or the taxpayer's business. In Washington State we have case law that retirement benefits of existing employees can't be changed without replacing them with something of equal or greater value.

    We have many retired career GIs who were told that if they served 20 years and retired that they would have free medical treatment from the VA. Their medical benefits are also deferred compensation.

    Deferred compensation means salary and benefits that were not received at the time they were earned.
     

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