Since Liberals Support Punitive Taxation On Incomes Over $250k, When Will Inflation Make That Poverty Level?

Liberals support punitive taxation of people making over $200 to $250k, as a punishment for their success and a means to redistribute wealth to less-productive people.

The privately-owned Federal Reserve Bank cartel assures inflation for their profit by creating our money from thin air, backed with nothing, at interest, so it's just a matter of time that a $250,000 income will become the normal income and eventually the income of the poor.

For supporters of punitive taxation of people over a fixed amount, when will inflation created by the Federal Reserve Bank cartel make a $250,000 income, poverty level income?

Update:

@scottso360, What does Mexico have to do with my question, unless that's the best answer you have to my question? BTW, in addition to a very high income tax, Mexico has an 18% IVA (VAT) tax, making Mexico a very costly place to live for the middle and upper class.

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  • 8 years ago
    Favorite Answer

    "Punitive", haha. A few percentage points on the portion of income which is over $250K is not going to "punish" anybody. They can afford it.

    Sorry you don't understand what marginal tax rates are and how they work. I suggest you look it up. .

  • 8 years ago

    Punitive taxes? Get the hell out of here. Republicans think wealthy individuals or high earners shouldn't pay taxes for simply being a high earner with the hope they MIGHT create a job.

    That's called a free ride. Any attempt to change that suddenly becomes punishing success, wealth redistribution, welfare and handouts. The terms "punishing success, wealth redistribution" are even in your question. Seems to me the high wage earners are the parasites and welfare recipients.

    Let's look at the stats for no taxes and job creation:

    Last year all the tax cuts and rebates costs $1.9 trillion and all America got was 10% unemployment.

    During the debt ceiling talks Boehner stormed out, McConnell couldn't understand why taxes were even on the table and both Republicans and Tea Party preferred a credit downgrade rather than pay a bill. A bill that has to be paid sooner of later. That's your money out of thin air and inflation.

    That wasn't caused by liberals. That was caused by Republican/Conservative deadbeats looking for a free ride and more welfare, handouts and tax cuts..

  • J M
    Lv 7
    8 years ago

    No one supports punitive tax on anyone.

    I know quite a few very wealthy people. I have never heard a single one complain about taxes. I have also never seen them change their life styles in any way in response to changes in tax rates.

    It is more than sad that so many right wing supporters who are not rich feel the need to beg for relief for the wealthy. I guarantee you that those making over $250,000 will NEVER be concerned about tax relief for you.

    The only people whining about taxes on the wealthy are right wing pundits who have made obscene wealth by trying to manipulate public opinion to fit the conservative agenda. Including removing all laws put in place to protect the average citizen from the greed, and excesses of unregulated financial and manufacturing sectors.

    You too are one of us. Wake up and smell the coffee.

  • 8 years ago

    Its not punishment. Second, the Federal Reserve System is not a cartel, and in fact, can only keep up to 10% of any earnings. The rest goes to the Treasury. Also, it does not lend to people but only to its member banks, with the expectation they will lend to businesses and people.

    Inflation only occurs when the economy is doing well, not in a recession. A slow normal inflationary rate is good, and wages and salaries usually keep up.

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  • Anonymous
    8 years ago

    Wow, you sure brought out the Libs big time and from what I'm reading by their answers they have no idea they were really THAT stupid by making rants with NOTHINg to back up their info. Who was the crazy that said HALF of America only makes 25 K ? Talk about living under a rock ( Or just still living in Mom's basement )

  • 8 years ago

    If current the current inflation rate continues, about 96 years. (Until 250,000 has the same buying power as 14,000) Assuming we make absolutely no tax reforms between then and now. Since we've made thousands in the last 96 years, this is a moot point.

  • 8 years ago

    When Obama and Giethner fix the value of the dollar so it takes a wheelbarrel full of "C" notes to buy a loaf of bread.

  • Anonymous
    8 years ago

    Why do you call it "punitive"? You don't call the first two tax brackets punitive. the emotionally charges only level at the higher brackets.

  • Anonymous
    8 years ago

    Conservative thinking.

    “Teachers making $50k are making TOO MUCH,” and “$250,000 is NOT RICH.”

  • Anonymous
    8 years ago

    Not any time in your life time, since half of Americans are working for less than $25k/year.

    Cons are idiots.

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