Do you think the US government today is unfairly cruel towards billionaires?
The terrible "liberals" and leftists keep pointing out that since the 1950s, the top income tax bracket for individual rich people has fallen from more than 90% on the margin to only 35% on the margin, while federal income taxes on US corporations have been slashed repeatedly, and in some cases basically eliminated.
But is this really enough to keep the richest American individuals and the most powerful American companies healthy & happy? Isn't it a simple fact that the richest 1% of the population, which now receives about 23% of the pre-tax income, needs to get an additional tax break, so they can create new jobs for everybody?
And isn't it simple Republican justice that poor and middle class Americans, the people who hope to get some of those jobs, should pay higher taxes so that the rich can get a bit more incentive?
- 9 years agoFavorite Answer
The liberals love to talk about taxing fairly.
The US Constitution States " We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.
Everyone is able to be in the pursuit of happiness.
Not everyone makes the right decisions or works harder than someone else.
Not everyone is willing to work 70 hours a week and drop every cent they have in "trying" to start a business.
272 US Billionaires that top the list are self made.
2/3 of the billionaires in the wrold are also self made
Sixteen percent of millionaires inherited their fortunes. Forty-seven percent of millionaires are business owners. Twenty-three percent of the world's millionaires got that way through paid work, consisting mostly of skilled professionals or managers
The purchasing power of a million US dollars in 1959 is equivalent to 7.3 million dollars in 2009.
The poor. They have kids, cars, TV's xbox, cell phones... and yet you call them poor?
We have a little under 1/2 of the people in this country that do not pay taxes at all. Yes they use our military, police, fire schools health and dental facilities, public schools, public libraries, school lunch programs subsidized daycare, housing, and utilities. They use our bridges, roads, sidewalks as well.
We have corps like Walmart who bring in 22 billion, get a tax break of 9 billion, and pay 7 billion in taxes in 2010. They employ 1.7% of those of working age in America and that is 1% of our population. They give over 1 billion a year in the USA Alone in Charity, and they have 3 billion in theft in their stores each year.... by their own emplyees.
You going to continue to try and tax the corporations even more...
Yet give even more free thousand dollar tax refunds to those that do not even pay taxes, like that single mom with 4 kids on wic, food stamps, free lunches, subsidized daycare and subsidized housing? earned income credit, child tax credits those 2 paid for by people that actually pay taxes, and are worth thousands of dollars in "free" money.
Maryland learned the hard way about adding special taxes onto the "rich man's tax liability"
O'Malley marketed the proposal in 2007, he stressed that it would raise taxes on only 3.7% of the state's households. The millionaire's tax was part of a broader overhaul to the state's income tax system, which cut taxes on most residents. But it was not a 3.7% it was a 6.7% tax raise. In cities like Baltimore and Bethesda, which apply add-on income taxes, the top tax rate with the surcharge now reaches as high as 9.3%—fifth highest in the nation
And Gov. Martin O'Malley, a Democrat, does not intend to bring it back, instead promising to wipe out a projected $1.2 billion budget gap with spending cuts.
Well, the state comptroller's office now has the final tax return data for 2008, the first year that the higher tax rates applied. The number of millionaire tax returns fell sharply to 5,529 from 7,898 in 2007, a 30% tumble. The taxes paid by rich filers fell by 22%, and instead of their payments increasing by $106 million, they fell by some $257 million.
You have many in that state that pay nothing and you want millionaires to pay up to 10% lol funny. 1/3 of them left the state and took their businesses with them. not only did the state fall short on revenue, they lost jobs as well.
A millionaire can pick up over night and never come back. That applies to them moving overseas as well... what happens when they decide to do that?
The poor going to pay their share then?
- Anonymous9 years ago
Just a couple of points...
1. Have you ever been hired by a poor person to do anything? Has anyone, anywhere, ever had a steady and stable income derived from a poor person? Demonize "the rich" all you want, but that's where our jobs come from.
2. Corporations cannot be taxed. Taxes, even ones called "corporate taxes," can only be paid by individuals. In the case of a corporation, that tax money can only come from three sources: Employees, in the form of lower wages or decreased benefits. Customers, in the form of higher prices. Shareholders, in the form of reduced dividends. A "corporation" is nothing more than a stack of papers in a folio somewhere. It cannot and never will pay a tax.
- ?Lv 69 years ago
"there are various ways in which the rich may oppress the poor; in which property may oppress liberty; and that the world is filled with examples. It is necessary that the poor should have a defence against the danger."
-- James Madison; Note to Speech on the Right of Suffrage (1821)
- ?Lv 79 years ago
no, they are not fair enough.
there are treason laws that even the super rich, or those with multi citizenship liscenses that should be HUNG for treason.
alex jones says there are only 8 families.
glenn beck points the finger at Soros
lets try every single president since kennedy and half of them before that Yeah, REagan put on a good act, but behind the scene HE alone forced the poison of aspetame upon us, literally killing diabetics and mortally wounding others.
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- Anonymous9 years ago
LOL!!!!! This 1% of the population you speak of controls the government. Campaign donations? More like blood money and political bribes. In fact, its a miracle Ron Paul is even as popular as he is seeing how he hasn't received any blood money.
- Anonymous4 years ago
How can anyone possibly know based on the information given? Has he paid taxes? Did he defraud people? Did he steal from accounts? What he's given to charity has no bearing on his owning a boat. Both are voluntary.
- sandplant16Lv 79 years ago
And even if the government does not continue to give the tax breaks to the billionaires, My wife and I are willing to send them 5% of our fixed income subsistance just to make sure they are OK.
- DickLv 59 years ago
That about sums it up! The middle class is just about gone. Keep voting republican and in another 20 years there will be no middle class. Income disparity is getting worse every year.
- Elian GonzalezLv 69 years ago
cute lib rant..here is the truth ! top 1% of income earners pay 39% of the income tax,top 10% of the income earners pay 50%.the rest of the leeches pay 0%.next time you meet a 1% tax payer,kiss his azs...you can find all these stats on the IRS web site.
- Anonymous9 years ago
Ah, the billionaires... life has been cruel to them.