Should The Rich Be Required To Pay Higher Taxes In the US?

[Dad2three]

Taxing the Wealthy Promotes Economic Growth



Is it true that increasing taxes on the wealthy will always cause a reduction in economic growth? If we tax the wealthy at, say, 50 percent, and the reward from a new, innovative product is only $50 million instead of $100 million, would that reduce effort? Would you work any less for “only” $50 million?

There is likely a margin at which such a reduction in the reward for effort matters, a promise of $80,000 per year is a lot different from a promise of $40,000, but this can be overcome through progressive taxation. Taxes on the wealthiest households, even taxes that are quite large, are unlikely to have much of an effect, if any, on innovative activity.



Some types of taxes on the wealthy may even enhance economic growth. There is mounting evidence, for example, that too much inequality reduces growth, so taxes that are used to promote equality can also promote growth. In addition, economic growth can be increased through a large estate tax on the wealthiest households.

Taxing the Wealthy Promotes Economic Growth

 

[RKMBrown]

Let's face it ... some people are so damn lazy and stupid they deserve to be ruled by despots.

I don't think it is stupidity or laziness as much as it is just plain ignorance. They simply fail to comprehend the power of the enormous freedoms our system affords them. You can see this in Campbell's posts to me where he laughs off "be anything you please" because he doesn't believe that is possible. Yet it's not only possible, it is the greatest aspect of a free enterprise, free market capitalist system. Our system is responsible for creating more millionaires and billionaires than any system ever devised by man... but Socialists like Campbell want to ignore that reality and actually turn the tables on it to use it against itself...look at my chart which shows rich people get richer! Duh... they're supposed to!

We have unfortunately become a nation full of moronic idiots who have been spoiled their whole life. Taught by liberals to be victims, to blame their shortfalls on others, to be jealous and envious of those who have more, to view success as evil and corrupt. Most importantly, to cede their enormous freedoms and opportunity to government for the promise of a better life they will never see.

Nobody could be that moronic... nah... I think they are just playing the role of the town idiot cause they are lazy good for nothing pieces of shit.

 

[bripat9643]

All the way into the 1960's anyone who earned more than $300,000 a year paid 91% of the excess in taxes. 'Course back then CEO's earned 25 times what a carpenter or electrician made. Now the rich have fixed the game and they've got nearly all the money. They won't quit until America becomes a Lord/Serf society. If you count all the fees, taxes etc. that an average earner makes he, she's being taxed at twice the percentage of his/her gross income that the rich are. Payroll tax, state income tax, sales tax, federal excise tax, property tax, fees on everything from auto registration to a fishing license. The upper nuts are supposed to be paying 35%-40% but none of them do. Their lawyers and accountants see to that. I have a buddy in MS who owns a metal building construction company and he told me that if he ever had to pay more than 20% he would fire his accountant and hire a new one.

Liar.

Do you have trouble reading the English language??

CEO Pay in 2012 Was Extraordinarily High Relative to Typical Workers and Other High Earners | Economic Policy Institute

From 1978 to 2012, CEO compensation measured with options realized increased about 875 percent, a rise more than double stock market growth and substantially greater than the painfully slow 5.4 percent growth in a typical worker’s compensation over the same period.

Why no I don't. Do you? You think cutting and pasting bullshit makes you smart? FYI.. you're a dumb ass piece of shit fucking moron if you think people 1) paid 91% in taxes or 2) should pay 91% in taxes.

That's all they can do though. Leftists are generally pretty ignorant people. Cutting and pasting, is all they can do. Keep your expectations low enough, and you won't be disappointed by the left anymore.

Says the Klown arguing the US can't make people pay higher taxes, lol

Marginal tax rates don't show how much total tax the rich actually pay, moron. They pay a larger percentage of the tax burden than they did in the 1950s, the golden age you are always pining for. Your also chart ignores all the deductions the rich enjoyed before Reagan lowered marginal rates. Furthermore, those high marginal rates were choking off growth during the 70s.

 

[bripat9643]

Taxing the Wealthy Promotes Economic Growth



Is it true that increasing taxes on the wealthy will always cause a reduction in economic growth? If we tax the wealthy at, say, 50 percent, and the reward from a new, innovative product is only $50 million instead of $100 million, would that reduce effort? Would you work any less for “only” $50 million?

There is likely a margin at which such a reduction in the reward for effort matters, a promise of $80,000 per year is a lot different from a promise of $40,000, but this can be overcome through progressive taxation. Taxes on the wealthiest households, even taxes that are quite large, are unlikely to have much of an effect, if any, on innovative activity.



Some types of taxes on the wealthy may even enhance economic growth. There is mounting evidence, for example, that too much inequality reduces growth, so taxes that are used to promote equality can also promote growth. In addition, economic growth can be increased through a large estate tax on the wealthiest households.

Taxing the Wealthy Promotes Economic Growth

"Taxing the Wealthy Promotes Economic Growth"

BWAHAHAHAHAHAHAHA!!!!!!!!!!!

Now that's funny!

 

[Dad2three]

The Loss of Shared Prosperity


Census family income data show that from the late 1940s to the early 1970s, incomes across the income distribution grew at nearly the same pace


As Figure 2 shows, from 1979 to 2007, just before the financial crisis and Great Recession, average income after taxes for the top 1 percent of the distribution quadrupled. The increases in the middle 60 percent and bottom 20 percent of the distribution were much smaller.

A Guide to Statistics on Historical Trends in Income Inequality | Center on Budget and Policy Priorities

 

[David_42]

Taxing the Wealthy Promotes Economic Growth



Is it true that increasing taxes on the wealthy will always cause a reduction in economic growth? If we tax the wealthy at, say, 50 percent, and the reward from a new, innovative product is only $50 million instead of $100 million, would that reduce effort? Would you work any less for “only” $50 million?

There is likely a margin at which such a reduction in the reward for effort matters, a promise of $80,000 per year is a lot different from a promise of $40,000, but this can be overcome through progressive taxation. Taxes on the wealthiest households, even taxes that are quite large, are unlikely to have much of an effect, if any, on innovative activity.



Some types of taxes on the wealthy may even enhance economic growth. There is mounting evidence, for example, that too much inequality reduces growth, so taxes that are used to promote equality can also promote growth. In addition, economic growth can be increased through a large estate tax on the wealthiest households.

Taxing the Wealthy Promotes Economic Growth

"Taxing the Wealthy Promotes Economic Growth"

BWAHAHAHAHAHAHAHA!!!!!!!!!!!

Now that's funny!

The truth hurts.
Causes and Consequences of Income Inequality : A Global Perspective

 

[Dad2three]

Taxing the Wealthy Promotes Economic Growth



Is it true that increasing taxes on the wealthy will always cause a reduction in economic growth? If we tax the wealthy at, say, 50 percent, and the reward from a new, innovative product is only $50 million instead of $100 million, would that reduce effort? Would you work any less for “only” $50 million?

There is likely a margin at which such a reduction in the reward for effort matters, a promise of $80,000 per year is a lot different from a promise of $40,000, but this can be overcome through progressive taxation. Taxes on the wealthiest households, even taxes that are quite large, are unlikely to have much of an effect, if any, on innovative activity.



Some types of taxes on the wealthy may even enhance economic growth. There is mounting evidence, for example, that too much inequality reduces growth, so taxes that are used to promote equality can also promote growth. In addition, economic growth can be increased through a large estate tax on the wealthiest households.

Taxing the Wealthy Promotes Economic Growth

"Taxing the Wealthy Promotes Economic Growth"

BWAHAHAHAHAHAHAHA!!!!!!!!!!!

Now that's funny!

Sure Bubs, forget US history and empirical evidence, it just doesn't fit into your bumper sticker mentality. Shocking

 

[bripat9643]

We have to take care of our billionaires otherwise they'll leave us.

And once they're gone, they are gone forever.

And then what will we ever do?

You'll go back to your tin shack and eat your gruel by torch light.

 

[Dad2three]

While we cannot say that there is a robust significant positive relationship between tax rates and growth, it is still interesting that regardless of when we start the sample, higher top marginal tax rates are associated with higher not lower growth. Moreover, a narrative reading of postwar US economic history leads to the same conclusion. The period of highest growth in the United States was in the post-war era when top marginal tax rates were 94% (under President Truman) and 91% (through 1963). As top marginal rates dropped, so did growth. Moreover, except for 1984, a recovery year, the highest per capita growth rates since 1980 were all in the late 1990s, after the top marginal tax rate had been increased from 28% under President Reagan to 31% under the first President Bush and then 39.6% under President Clinton.


Economist's View: Does Taxing the Wealthy Hurt Growth?

 

[bripat9643]

Taxing the Wealthy Promotes Economic Growth



Is it true that increasing taxes on the wealthy will always cause a reduction in economic growth? If we tax the wealthy at, say, 50 percent, and the reward from a new, innovative product is only $50 million instead of $100 million, would that reduce effort? Would you work any less for “only” $50 million?

There is likely a margin at which such a reduction in the reward for effort matters, a promise of $80,000 per year is a lot different from a promise of $40,000, but this can be overcome through progressive taxation. Taxes on the wealthiest households, even taxes that are quite large, are unlikely to have much of an effect, if any, on innovative activity.



Some types of taxes on the wealthy may even enhance economic growth. There is mounting evidence, for example, that too much inequality reduces growth, so taxes that are used to promote equality can also promote growth. In addition, economic growth can be increased through a large estate tax on the wealthiest households.

Taxing the Wealthy Promotes Economic Growth

"Taxing the Wealthy Promotes Economic Growth"

BWAHAHAHAHAHAHAHA!!!!!!!!!!!

Now that's funny!

The truth hurts.
Causes and Consequences of Income Inequality : A Global Perspective

"The causes of wealth inequality?" The idea that wealth could ever be equally distributed is absurd.

 

[David_42]

We have to take care of our billionaires otherwise they'll leave us.

And once they're gone, they are gone forever.

And then what will we ever do?

You'll go back to your tin shack and eat your gruel by torch light.

LOL. Because countries with high tax rates on the wealthy are OBVIOUSLY experiencing this.

 

[David_42]

Taxing the Wealthy Promotes Economic Growth



Is it true that increasing taxes on the wealthy will always cause a reduction in economic growth? If we tax the wealthy at, say, 50 percent, and the reward from a new, innovative product is only $50 million instead of $100 million, would that reduce effort? Would you work any less for “only” $50 million?

There is likely a margin at which such a reduction in the reward for effort matters, a promise of $80,000 per year is a lot different from a promise of $40,000, but this can be overcome through progressive taxation. Taxes on the wealthiest households, even taxes that are quite large, are unlikely to have much of an effect, if any, on innovative activity.



Some types of taxes on the wealthy may even enhance economic growth. There is mounting evidence, for example, that too much inequality reduces growth, so taxes that are used to promote equality can also promote growth. In addition, economic growth can be increased through a large estate tax on the wealthiest households.

Taxing the Wealthy Promotes Economic Growth

"Taxing the Wealthy Promotes Economic Growth"

BWAHAHAHAHAHAHAHA!!!!!!!!!!!

Now that's funny!

The truth hurts.
Causes and Consequences of Income Inequality : A Global Perspective

"The causes of wealth inequality?" The idea that wealth could ever be equally distributed is absurd.

The study looks at many different economies and factors, and determines that income inequality is more harmful to economic growth then a more balanced system. No one is proposing complete equal distribution, except for you maybe, given you're a loon.

 

[bripat9643]

We have to take care of our billionaires otherwise they'll leave us.

And once they're gone, they are gone forever.

And then what will we ever do?

PLEASE PULL A GALT MORONS! US ECONOMY BY FAR THE LARGEST AND STRONGEST ECONOMY, THE BILLIONAIRE WANT TO LEAVE? lol

That would end a few years after turds like you started running things.

 

[Dad2three]

Taxing the Wealthy Promotes Economic Growth



Is it true that increasing taxes on the wealthy will always cause a reduction in economic growth? If we tax the wealthy at, say, 50 percent, and the reward from a new, innovative product is only $50 million instead of $100 million, would that reduce effort? Would you work any less for “only” $50 million?

There is likely a margin at which such a reduction in the reward for effort matters, a promise of $80,000 per year is a lot different from a promise of $40,000, but this can be overcome through progressive taxation. Taxes on the wealthiest households, even taxes that are quite large, are unlikely to have much of an effect, if any, on innovative activity.



Some types of taxes on the wealthy may even enhance economic growth. There is mounting evidence, for example, that too much inequality reduces growth, so taxes that are used to promote equality can also promote growth. In addition, economic growth can be increased through a large estate tax on the wealthiest households.

Taxing the Wealthy Promotes Economic Growth

"Taxing the Wealthy Promotes Economic Growth"

BWAHAHAHAHAHAHAHA!!!!!!!!!!!

Now that's funny!

The truth hurts.
Causes and Consequences of Income Inequality : A Global Perspective

"The causes of wealth inequality?" The idea that wealth could ever be equally distributed is absurd.

Equally? Ah the right wings flaw, LESS unequal Bubba, NOT equality dumbass!!!

 

[Boss]

hadit, they are stupid with Socialism! They don't care! That's the big ruse here! They argue like they care about capitalism... like they care about people... the truth is, they don't care about anything other than destroying capitalism and installing socialism. They will lie, mislead, pretend to be intellectual... whatever it takes.

That's obvious. I enjoy watching them panic as argument after argument is stripped away from them.

That's the thing, they really don't have an argument. Not an honest one. They pretend like they are arguing about the economy and how to make things better... they don't give two shits about the economy or making things better. They want to wreck the economy and take down free market capitalism because they're communist scum. It's how they operate. Convince a lot of really gullible people into thinking they have the best of intentions when their true intent is to destroy this free market capitalist system.

 

[Dad2three]

We have to take care of our billionaires otherwise they'll leave us.

And once they're gone, they are gone forever.

And then what will we ever do?

PLEASE PULL A GALT MORONS! US ECONOMY BY FAR THE LARGEST AND STRONGEST ECONOMY, THE BILLIONAIRE WANT TO LEAVE? lol

That would end a few years after turds like you started running things.

Yes, US Turds like Teddy, FDR, LBJ, etc...

 

[David_42]

hadit, they are stupid with Socialism! They don't care! That's the big ruse here! They argue like they care about capitalism... like they care about people... the truth is, they don't care about anything other than destroying capitalism and installing socialism. They will lie, mislead, pretend to be intellectual... whatever it takes.

That's obvious. I enjoy watching them panic as argument after argument is stripped away from them.

That's the thing, they really don't have an argument. Not an honest one. They pretend like they are arguing about the economy and how to make things better... they don't give two shits about the economy or making things better. They want to wreck the economy and take down free market capitalism because they're communist scum. It's how they operate. Convince a lot of really gullible people into thinking they have the best of intentions when their true intent is to destroy this free market capitalist system.

"They want to wreck the economy and take down free market capitalism "
"Free market capitalism" is a stupid statement, it can never exist, it never will. Monopolies, corruption, greed..

 

[Dad2three]

hadit, they are stupid with Socialism! They don't care! That's the big ruse here! They argue like they care about capitalism... like they care about people... the truth is, they don't care about anything other than destroying capitalism and installing socialism. They will lie, mislead, pretend to be intellectual... whatever it takes.

That's obvious. I enjoy watching them panic as argument after argument is stripped away from them.

That's the thing, they really don't have an argument. Not an honest one. They pretend like they are arguing about the economy and how to make things better... they don't give two shits about the economy or making things better. They want to wreck the economy and take down free market capitalism because they're communist scum. It's how they operate. Convince a lot of really gullible people into thinking they have the best of intentions when their true intent is to destroy this free market capitalist system.

Says the Klown arguing US taxes income twice IF he made money from Germany, his "tax plan" would give a ten year amnesty to "create jobs" despite the FACT that income from Germany CAN come back to the US tax free today as an individual BECAUSE Germany has a higher tax burden and the US has tax treaties, lol

 

[bripat9643]

Taxing the Wealthy Promotes Economic Growth



Is it true that increasing taxes on the wealthy will always cause a reduction in economic growth? If we tax the wealthy at, say, 50 percent, and the reward from a new, innovative product is only $50 million instead of $100 million, would that reduce effort? Would you work any less for “only” $50 million?

There is likely a margin at which such a reduction in the reward for effort matters, a promise of $80,000 per year is a lot different from a promise of $40,000, but this can be overcome through progressive taxation. Taxes on the wealthiest households, even taxes that are quite large, are unlikely to have much of an effect, if any, on innovative activity.



Some types of taxes on the wealthy may even enhance economic growth. There is mounting evidence, for example, that too much inequality reduces growth, so taxes that are used to promote equality can also promote growth. In addition, economic growth can be increased through a large estate tax on the wealthiest households.

Taxing the Wealthy Promotes Economic Growth

"Taxing the Wealthy Promotes Economic Growth"

BWAHAHAHAHAHAHAHA!!!!!!!!!!!

Now that's funny!

The truth hurts.
Causes and Consequences of Income Inequality : A Global Perspective

"The causes of wealth inequality?" The idea that wealth could ever be equally distributed is absurd.

The study looks at many different economies and factors, and determines that income inequality is more harmful to economic growth then a more balanced system. No one is proposing complete equal distribution, except for you maybe, given you're a loon.

The determination was made entirely on bullshit. You can't prove economic theorems using statistical data.

Your "balanced system" can never exist in reality. The only means you propose of "balancing" is by looting the wealthy, which means a vast corrupt system of bribery, vote buying, crony capitalism and welfare leaching. Taking money from productive people and giving it to the government can never grow the economy. Our economic growth has declined steadily ever since the advent of the income tax and the welfare state.

 

[dcraelin]

we dont have the time to sit around and wait for your supposed pressure to build up to realization....we have to accept that from the beginning of the country basically a certain level of government spending is inevitable.....and that a certain level of tax revenue is needed.....now maybe you dont want to take it back up to even....but need more taxes on the rich now so that debt doesnt get past the point of no retrun.

You don't understand. Raising taxes without spending restraint is foolish in the extreme. It will only increase the debt. You don't give a meth addict money, hoping he'll better his life, because you KNOW he will simply buy more meth. Same with the crew now in Washington. With a few notable exceptions, they have proven themselves incapable of fiscal sanity.

well then put in, or advocate, some spending restraint.....dont just condemn us to fiscal insanity and bankruptcy by dismissing out of hand increasing taxes on the rich...which is the only way to get us climbing our way out of this hole.

What do you think conservative fiscal policy is all about, but restraint? You have to have the intervention first, then rehab, then you can talk about getting back on your feet. Right now, Washington is in full spending addiction mode.

well True conservatives should then not focus on not raising taxes...........but focus on putting restraints on spending, and/or restricting increased taxes to pay down the debt....instead of just saying "no increased taxes"...Republicans have shown little restraint in reality...........they recently voted to ignore restrictions of funds I believe in defense spending..........

How dare you think those "job creators" need to pay a min 30% fed tax burden like Obama has proposed for nearly 4 years, and the GOP blocked in the Senate and NEVER brought up in the House. You think the "job creator" will create a job paying taxes in the US???

sadly some "jb creatpors" get government handouts to create jobs......and the jobs don't materialize.....or dont even offset the tax cuts handed out