Raising Taxes On The Rich Would Reduce Income Inequality

Dantès said:
Soooo! Maybe the government could use some of that money to give us high speed internet service that is 13 times better than what 99 percent of the country has like South Korea has and companies like Comcast could actually be put out of business for providing the worst service imaginable and still charging a huge price because they are the only source.
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So basically you want to make the government a majority partner in every American corporation so you can watch YouTube videos of cats playing the piano without being interrupted for buffering?
 
Superfreak said:
LOL... so again, you only want to do it if everyone else is forced to do it at the same time. funny how you think you need the government to decide how to handle your decisions for you.
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funny how you think that my desires to see the marginal tax bracket raised are somehow disingenuous....

And.... as I said, and you conveniently ignored - (I don't remember you being such a total prick back in the old days SF... what happened?)- I manage my charitable largesse just fine without needing the government to decide anything for me.
 
maineman said:
funny how you think that my desires to see the marginal tax bracket raised are somehow disingenuous....

And.... as I said, and you conveniently ignored - (I don't remember you being such a total prick back in the old days SF... what happened?)- I manage my charitable largesse just fine without needing the government to decide anything for me.
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I think people who say they want to pay more but only if others are FORCED to pay more with them are disingenuous. Just my opinion. I also think many of those that clamor for the marginal tax to be increased are misguided. Their efforts should be at raising the cap gains. That is one quick way you are going to actually increase the taxes paid for by the wealthy. Take away the deductions and loopholes... otherwise the marginal rate increase is largely ineffective.

Clean up the tax code and you don't need to raise the marginal rate.

It should be simple enough that the average person can understand it. It should not be filled with thousands of loopholes and deductions. Let us push for the flat tax with a standard deduction and nothing more.

Start with a standard deduction of $30k (adjusted for inflation annually) for each adult and then tax every dollar over that $30k at 20%. This is simple, easy to understand, fair and progressive. It protects the low-income individuals and couples from paying federal income taxes. It provides the middle-income families a lower effective tax rate than the wealthy. This plan would encompass ALL income, including earned income, capital gains and dividend income.

A person making $30k pays an effective rate of 0%.

A person making $50k pays an effective rate of 8%.

A person making $100k pays an effective rate of 14%.

A person making $200k pays en effective rate of 17%.

A person making $1mm pays an effective rate of 19.4%

Everyone has the same deduction and takes it. Which causes the effective tax rate to increase the more you make.

To reduce the national debt I would propose we add an additional temporary bracket to the flat tax. Every dollar over $500k (again adjusted for inflation annually) would be taxed at 30% rather than 20%. The additional 10% would be mandated to pay down the debt.

It is our responsibility to pay our own way and not dump trillions of dollars of debt on future generations. We need to begin electing leaders that are fiscally responsible.
 
Yoda said:
Capping the earnings of the likes of Mark Zuckerberg or Bill Gates would do little to actually boost the poor and middle class, Summers, a former economic advisor to President Obama and the treasury secretary from 1999 to 2001, argued in a Washington Post op-ed Sunday. But closing tax loopholes that largely benefit the wealthy -- like the capital gains exemption, certain estate tax provisions and corporate tax breaks -- could help middle-class and poor Americans, he wrote.

“Today’s tax code allows a far larger share of the income of the rich to escape taxation than the poor or middle class,” Summers wrote. “Closing loopholes that only the wealthy can enjoy would enable targeted tax measures such as the earned-income tax credit to raise the incomes of the poor and middle class more than dollar for dollar by incentivizing working and saving,” he continued.


Still, some studies have backed up Summers' idea that reforming the tax code could make a dent in income inequality. According to a 2013 study from the Institute on Taxation and Economic Policy, when you consider things like sales and state and local taxes, the poor fork over a larger share of their income to Uncle Sam than their richer counterparts.


http://www.huffingtonpost.com/2014/02/17/taxes-rich-larry-summers_n_4804285.html
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LMAO; I've asked this of Liberals a thousand times with no luck in getting a coherent logical answer. How is taking more income from the rich by Government theft going to benefit the poor?

I'm amused by the moronic premise that the reason people have less or are poor is due to a few having so much. How does one become so obviously stupid and make such ignorant arguments in today's information age and education?

In order to have such views, one must be an economic moron and think that the economy is finite. But it is not; and just because someone makes more money does not equate to others getting less.

Damn liberals are the dumbest, most naive and gullible people on the planet.
 
Dantès said:
Isn't this all a no-brainer! I guess such thinking has become counter-intuitive in the current "common sense" regarding the 19th century gilded age ideological model of the "identity of interests" between capital and labor that held that income inequality was better for both owners and workers. We are back to this ridiculous logic today. I guess eventually Americans will grow tired of the sheer injustice of this way of thinking and rise up in revolution, nah, not here! It will never happen no more. There is no viable oppositional model to finance capitalism.

We'll just slowly devolve into a third world country, where the states, counties and cities can't even afford to fix the road damage caused by a harsh winter. While the few continue to accumulate their billions and we all wait with our gruel bowls for just a little more because we all have an "identity of interests," which means when Bill Gates and Warren Buffet gain another twenty billion dollars each I am better off! And so are you! So take your gruel bowel and celebrate another increase in the federal minimum wage!
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LMAO; wrong again dunce. We will devolve with leftist political dunces who think like you in charge who have the economic intelligence of an ant and who believe that economies are finite.

Dumbass.
 
Yoda said:
im all for capitalism, im not for this new unbridled greed by americas richest and corporations. There was a time not to long ago that The rich and corporations gladly shared some with the people that worked to make them rich. They gave them enough to live and gave them enough security to feel safe. THEN CAME MY GENERATION OF GREEDY P's OS the babyboomers.
When they came of age and started to take over beginning somewhere around 1978 the greed proliferated. Their attitude is pay them less then we keep more, pay them less raise the bottom line on them we get bigger bonus.

I am not jealous, I have more than enough and I live a better than average lifestyle. Having said that when just 6 humans have more than the entire bottom 44% of all americans that is sickeningly out of whack.

The top 2% is still only 2% but they OWN far more than they did 20 yrs ago. There is no denying that the middleclass has shrunk considerably the number of poor has risen dramatically and weve never had this many unemployed for so long.

The robbed all americans of their home equities by creating and causeing the housing crash. American middleclass is on its knees.
When the middleclass is totally destroyed then the corporations can stick all the chinese shit they make in their ass, there will be no one to buy it.
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LMAO; amusing, but stupid.
 
Truth Detector said:
LMAO; I've asked this of Liberals a thousand times with no luck in getting a coherent logical answer. How is taking more income from the rich by Government theft going to benefit the poor?
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asked and answered multiple times... you just continue to run away from the answer.

::yawn::
 
maineman said:
no. it is basic arithmetic. If Person A has income of $1000 and Person B has income of $100, there is a pre-tax income differential between them of $900.

If Person A has his income taxed at 75% and person B has his income taxed at 20%, the post-tax income differential is only $170.

Raising the top end marginal tax rate WILL change (reduce) the income differential between those in that top tax bracket and those not in it.
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LMAO; another economics moron who thinks taxing the rich will benefit the poor. Damn you liberals are dumb.
 
Superfreak said:
It is our responsibility to pay our own way and not dump trillions of dollars of debt on future generations. We need to begin electing leaders that are fiscally responsible.
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Yet any tax increase on the wealthy will not cause a dimple in the debt, because there are so few wealthy and a limited pot of money. Remember, taxing the wealthy does not mean taxing wealth. It means taxing high incomes. Existing fortunes would carry on unimpeded.

All of this talk is merely foreplay to get to the big pot of money. The middle class, their incomes, and their 401Ks.
 
maineman said:
asked and answered multiple times... you just continue to run away from the answer.

::yawn::
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I said coherent shit-for-brains; not the unadulterated stupidity that erupts from your keyboard.

So this question is for all the dumbasses like you on the left to try to answer; what are the causes of poverty? Try to answer it honestly.

Then explain how letting the Government take more of someone's income will make others less poor? Try to answer it honestly.
 
Taft2016 said:
Yet any tax increase on the wealthy will not cause a dimple in the debt, because there are so few wealthy and a limited pot of money. Remember, taxing the wealthy does not mean taxing wealth. It means taxing high incomes. Existing fortunes would carry on unimpeded.

All of this talk is merely foreplay to get to the big pot of money. The middle class, their incomes, and their 401Ks.
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Remember; you are trying to be logical with low information emotional and gullible dunces who are economically clueless.
 
Truth Detector said:
I said coherent shit-for-brains; not the unadulterated stupidity that erupts from your keyboard.

So this question is for all the dumbasses like you on the left to try to answer; what are the causes of poverty? Try to answer it honestly.

Then explain how letting the Government take more of someone's income will make others less poor? Try to answer it honestly.
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you keep rephrasing the same tired old questions over and over again. We all understand you don't like the answers, but please quit spamming the board with this repetitive bullshit.
 
maineman said:
you keep rephrasing the same tired old questions over and over again. We all understand you don't like the answers, but please quit spamming the board with this repetitive bullshit.
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Dear shit-for-brains; the only one's spamming this forum with bullshit are dishonest dunces like you who can't answer simple questions honestly and who desperately attempt to drag every thread into their never ending circles of stupidity.

Yes Comrade; you really are THAT incredibly stupid and dishonest.
 
maineman said:
refute the simple math I posted.... if you can.
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It was simpleton math; nothing more or less. So please tell us how allowing the Government to take MORE from the rich will prevent people from sliding into poverty.

Then explain how a few rich people cause people to be poor.

Yes, you really are THAT incredibly stupid, Dunce.
 
Truth Detector said:
It was simpleton math; nothing more or less. So please tell us how allowing the Government to take MORE from the rich will prevent people from sliding into poverty.

Then explain how a few rich people cause people to be poor.

Yes, you really are THAT incredibly stupid, Dunce.
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so... you can't refute the math.... why not just say so?
 
Truth Detector said:
Dear shit-for-brains; the only one's spamming this forum with bullshit are dishonest dunces like you who can't answer simple questions honestly and who desperately attempt to drag every thread into their never ending circles of stupidity.

Yes Comrade; you really are THAT incredibly stupid and dishonest.
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you don't like the answers given. Gosh... I'm really sorry about that.
 
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