http://online.wsj.com/article/SB1000...510.html?print
I do think this is probably a re-election bid, but I also don't care. This is legislation that I really want to see happen. And honestly, that needs to happen. I don't know exactly how I feel about the "rich" tax breaks because what qualifies as "rich" number seems a little low: $200K for individuals and $250K for families. My concern is that real, not-greedy families are going to be affected. People who are supporting extended family, elderly parents, kids, sick spouses, etc.|||I think the bottom 50% need to start paying taxes. Do you know that they essentially don't pay any taxes? Just kidding, that'd be terrible.
Glad to hear the rich will pay a bit more taxes. You don't want to suck them dry, but they have been pampered plenty. 200-250k seems a bit low ceiling though, but meh, they still can afford it.|||its a start...now stop giving tax breaks to companies that sent all our jobs overseas, GIVE breaks to those that are here employing LEGAL workers here.....and send those not legal home.|||Quote:
Glad to hear the rich will pay a bit more taxes. You don't want to suck them dry, but they have been pampered plenty. 200-250k seems a bit low ceiling though, but meh, they still can afford it.
But. Is it fair, really? It almost seems like a punishment for having been smart enough to become wealthy, in a country that supposedly prides itself on capitalism.
Now, I'm not saying I'm against it...but if I were bringing in 251k a year for my family, I'd sure be asking for a $2000 reduction in my pay.|||I just know I'm tired of seeing ads about it on my YouTube videos.
PRIORITIES, people!|||Quote:
its a start...now stop giving tax breaks to companies that sent all our jobs overseas, GIVE breaks to those that are here employing LEGAL workers here.....and send those not legal home.
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But. Is it fair, really? It almost seems like a punishment for having been smart enough to become wealthy, in a country that supposedly prides itself on capitalism.
I hate that argument, because it is so flawed.
Nobody wants to pay taxes, but everyone wants to reap the benefits. Fact is, gov needs to be paid for. Taxes are a punishment for living in a democratic civilized first-world nation. End of story.
People who are smart enough (or crooked enough) to get wealthy end up living much better than the rest, even with taxes. Greed is the only reason they're crying about this.
Spreading wealth a bit only ensures that there's a population there to support the wealthy. Because if the discrepancy gets too large, crime will rise, society will degenerate, and eventually the poor will revolt.|||Quote:
I hate that argument, because it is so flawed.
You can hate the argument all you like, but let's see you actually quell it. It's the defense of the wealthy, one that they consistently fall back on--and from their viewpoint, they're correct: They are being penalized for having more money than most other people.|||I did provide some good reasons above why the argument is incorrect, even from their viewpoint.
Bullying is not ok, even if you are the bully. Why are we penalizing the bully for having more muscle mass and violence than others?
I'm all for smart people getting rich. But there's a point where it becomes profiteering, that is, taking advantage of lower classes. Remember, the rich are getting many tax breaks that poorer people have to pay.|||Quote:
But. Is it fair, really?
Is it fair that the biggest and wealthiest get bailouts from the government when their businesses fail while the little folk are left to rot? Is it fair that some of the biggest U.S. corporations pay little to no income taxes?
http://blogs.suntimes.com/sweet/2011...s_avoidin.html
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1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.
2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.
3) Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.
4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.
5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.
6) Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.
7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.
8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.
9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.
10) Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.
Is it fair to have a flat tax rate when the price of food, gas, rent and the essentials of living remain the same making the cost of living a few hundred fold higher for the bottom 50 percent than it is for the top 2 percent? Is it fair that even with a progressive tax rate that cost of living is still proportionally higher in regards to income for the poor?
Yes, life isn't fair. But it's not the rich who should be crying about it.|||Quote:
Yes, life isn't fair. But it's not the rich who should be crying about it.
Yes, thaaaaaank you.
Fair competition to me means that everyone should get the same treatment, at the very least. There are too many mechanisms in place to make the rich richer and to protect them from their own failures.
It makes it harder and harder to succeed from your own merit, and more and more likely that some rich person will profit from your smartness instead of yourself.
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