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

[Dad2three]

I think the rich should ABSOLUTELY pay more because the majority of them are selfish and don't care about anybody but themselves! Trust me, if you are a millionaire, it is NOT going to hurt you if you just pay a little more in taxes. I believe that if you are a good and righteous person, you would want to help the poor or people that are less fortunate. It's as simple as that! People need to stop being so selfish.

They should lower the top income tax rate to 33%, and raise the capital gains rate to 33% for any gains earned from investments held less than five years. The rate for investment gains over five years should be 25%. The capitals gains rate should be tied to the income tax rate, so lower income earners would still pay less regardless of whether the income was from wages or investments.

Then all the investors would pull their money out of the market and ship it overseas or to some other tax reduced investment. The capital gains tax is designed to bring in revenue to the government while at the same time, encourage investment. Increase those taxes to 33% and watch the market crash and burn.

lol, Yes China is waiting for the capital, lol

 

[Dad2three]

I think the rich should ABSOLUTELY pay more because the majority of them are selfish and don't care about anybody but themselves! Trust me, if you are a millionaire, it is NOT going to hurt you if you just pay a little more in taxes. I believe that if you are a good and righteous person, you would want to help the poor or people that are less fortunate. It's as simple as that! People need to stop being so selfish.

To the rich its just a game. They want to pay less even if they pay more lobbying to accomplish more.

That is because the rich Congressman writes the bill for,the rich.

Congress is the only ones that can change the lobbying rules. They can change the tax laws and they can change the way Wall St. Interacts with them. They won't do a damn thing. The reason, they need money to get re-elected. Who is going to vote against their best interest.

Why did the politicians of yesterday pass the tax laws that have recently been repealed? Seems to me our government has been taken over the last 30 years. Politics has changed our government our country has been taken over by the rich. This country used to be for we the people now its for them the Rich. Glad you're finally starting to realize that. This started on Reagan's watch and yes even Clinton and Obama are owned. We all are.

How the GOP Became the Party of the Rich


Today's Republican Party may revere Reagan as the patron saint of low taxation. But the party of Reagan – which understood that higher taxes on the rich are sometimes required to cure ruinous deficits – is dead and gone. Instead, the modern GOP has undergone a radical transformation, reorganizing itself around a grotesque proposition: that the wealthy should grow wealthier still, whatever the consequences for the rest of us.

Modern-day Republicans have become, quite simply, the Party of the One Percent – the Party of the Rich.

"The Republican Party has totally abdicated its job in our democracy, which is to act as the guardian of fiscal discipline and responsibility," says David Stockman, who served as budget director under Reagan. "They're on an anti-tax jihad – one that benefits the prosperous classes."


How the GOP Became the Party of the Rich | Rolling Stone

 

[Dad2three]

I think the rich should ABSOLUTELY pay more because the majority of them are selfish and don't care about anybody but themselves! Trust me, if you are a millionaire, it is NOT going to hurt you if you just pay a little more in taxes. I believe that if you are a good and righteous person, you would want to help the poor or people that are less fortunate. It's as simple as that! People need to stop being so selfish.

To the rich its just a game. They want to pay less even if they pay more lobbying to accomplish more.

That is because the rich Congressman writes the bill for,the rich.

Congress is the only ones that can change the lobbying rules. They can change the tax laws and they can change the way Wall St. Interacts with them. They won't do a damn thing. The reason, they need money to get re-elected. Who is going to vote against their best interest.

Why did the politicians of yesterday pass the tax laws that have recently been repealed? Seems to me our government has been taken over the last 30 years. Politics has changed our government our country has been taken over by the rich. This country used to be for we the people now its for them the Rich. Glad you're finally starting to realize that. This started on Reagan's watch and yes even Clinton and Obama are owned. We all are.

Finally? Lol! I've been saying this since Clinton and Congress allowed people to remortgage their homes at 125% over the worth. I saw 2008 coming in the mid 90's.

SURE you did Bubs


Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush’s President’s Working Group on Financial Markets October 2008

“The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”


"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them.

FACTS on Dubya's great recession | US Message Board - Political Discussion Forum

 

[Dad2three]

So your reaction to me telling you to calm down is to tell me to calm down? Er......

I don't understand your last sentence.

Yes, telling me how I feel is stupid, you obviously don't know. Maybe instead of talking about feelings we could stay on content.

How is it you grasp bigotry over race or sex, but not your own bigotry based on wealth envy? You obviously know as much about what rich people think as you know about how I feel, yet you insist on informing us on both

So, in your mind on content is going off and trying to label everyone you don't agree with as a Marxist. Of give me a break. I'm tired of this nonsense.

Replace "don't agree with" with "who endlessly spews Marxist rhetoric" and you're getting it

Excuse me sir, could you tell me the way to the ignore button?

you keep pumping class warfare claiming the rich want the poor to stay poor and don't get the connection between that and marxism? Seriously?

The nation is still recovering from a crushing recession that sent unemployment hovering above nine percent for two straight years. The president, mindful of soaring deficits, is pushing bold action to shore up the nation's balance sheet. Cloaking himself in the language of class warfare, he calls on a hostile Congress to end wasteful tax breaks for the rich.


"We're going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share," he thunders to a crowd in Georgia. Such tax loopholes, he adds, "sometimes made it possible for millionaires to pay nothing, while a bus driver was paying 10 percent of his salary – and that's crazy."

Preacherlike, the president draws the crowd into a call-and-response. "Do you think the millionaire ought to pay more in taxes than the bus driver," he demands, "or less?"

The crowd, sounding every bit like the protesters from Occupy Wall Street, roars back: "MORE!"

The year was 1985. The president was Ronald Wilson Reagan.




MARXIST HUH? LOL
http://www.rollingstone.com/politic...-the-party-of-the-rich-20111109#ixzz3jqnItW54
How the GOP Became the Party of the Rich | Rolling Stone

 

[Dad2three]

I think the rich should ABSOLUTELY pay more because the majority of them are selfish and don't care about anybody but themselves! Trust me, if you are a millionaire, it is NOT going to hurt you if you just pay a little more in taxes. I believe that if you are a good and righteous person, you would want to help the poor or people that are less fortunate. It's as simple as that! People need to stop being so selfish.

They should lower the top income tax rate to 33%, and raise the capital gains rate to 33% for any gains earned from investments held less than five years. The rate for investment gains over five years should be 25%. The capitals gains rate should be tied to the income tax rate, so lower income earners would still pay less regardless of whether the income was from wages or investments.

Then all the investors would pull their money out of the market and ship it overseas or to some other tax reduced investment. The capital gains tax is designed to bring in revenue to the government while at the same time, encourage investment. Increase those taxes to 33% and watch the market crash and burn.

.
Ronald Reagan thought this was a good idea. When he pushed to have rates reduced to 28%, the capital gains rate was 28% also. It wasn't until later that everyone thought it to be such a great idea to reduce those rates.

It wasn't until later that everyone thought it to be such a great idea to reduce those rates.

Reducing those rates was a great idea.

AFTER Ronnie increased them and "simplified" the tax code according to you? lol


Capital Gains Tax Cuts ‘By Far’ The Biggest Contributor To Growth In Income Inequality, Study Finds



By far, the largest contributor to this increase was changes in income from capital gains and dividends. Changes in wages had an equalizing effect over this period as did changes in taxes. Most of the equalizing effect of taxes took place after the 1993 tax hike; most of the equalizing effect, however, was reversed after the 2001 and 2003 Bush-era tax cuts. […]

The large increase in the contribution of capital gains and dividends to the Gini coefficient, however, is due to the large increase in the share of after-tax income from capital gains and dividends, and to the increase in the correlation of this income source with after-tax income.

Hungerford’s findings are similar to a study he produced for the Congressional Research Service in 2011, which found that while income grew 25 percent from 1996 to 2006 for all Americans, it grew 74 percent for the top 1 percent and 96 percent for the top 0.1 percent. That study also found that tax cuts on capital gains were the biggest driver of the disparity.

The capital gains rate increased to 20 percent at the beginning of 2013, and top earners will pay an even higher rate because of a surcharge to help pay for Obamacare. Still, the rate remains far lower than the top income tax rate, even as inequality in America is now comparable to countries like Pakistan and the Ivory Coast


Capital Gains Tax Cuts ‘By Far’ The Biggest Contributor To Growth In Income Inequality, Study Finds

 

[Dad2three]

As a result of a pair of rate cuts, first under President Bill Clinton and then under Bush, most of the richest Americans pay lower overall tax rates than middle-class Americans do. And this is one reason the gap between the wealthy and the rest of the country is widening dramatically.


Capital gains tax rates benefiting wealthy are protected by both parties

 

[2aguy]

As a result of a pair of rate cuts, first under President Bill Clinton and then under Bush, most of the richest Americans pay lower overall tax rates than middle-class Americans do. And this is one reason the gap between the wealthy and the rest of the country is widening dramatically.


Capital gains tax rates benefiting wealthy are protected by both parties

Romney paid 1.94 million in taxes…he paid more than his fair share……did you pay 1.94 million in taxes asshole?

 

[Dad2three]

As a result of a pair of rate cuts, first under President Bill Clinton and then under Bush, most of the richest Americans pay lower overall tax rates than middle-class Americans do. And this is one reason the gap between the wealthy and the rest of the country is widening dramatically.


Capital gains tax rates benefiting wealthy are protected by both parties

Romney paid 1.94 million in taxes…he paid more than his fair share……did you pay 1.94 million in taxes asshole?

"the richest Americans pay lower overall tax rates than middle-class Americans do."

 

[sealybobo]

I think the rich should ABSOLUTELY pay more because the majority of them are selfish and don't care about anybody but themselves! Trust me, if you are a millionaire, it is NOT going to hurt you if you just pay a little more in taxes. I believe that if you are a good and righteous person, you would want to help the poor or people that are less fortunate. It's as simple as that! People need to stop being so selfish.

To the rich its just a game. They want to pay less even if they pay more lobbying to accomplish more.

That is because the rich Congressman writes the bill for,the rich.

Congress is the only ones that can change the lobbying rules. They can change the tax laws and they can change the way Wall St. Interacts with them. They won't do a damn thing. The reason, they need money to get re-elected. Who is going to vote against their best interest.

Why did the politicians of yesterday pass the tax laws that have recently been repealed? Seems to me our government has been taken over the last 30 years. Politics has changed our government our country has been taken over by the rich. This country used to be for we the people now its for them the Rich. Glad you're finally starting to realize that. This started on Reagan's watch and yes even Clinton and Obama are owned. We all are.

How the GOP Became the Party of the Rich


Today's Republican Party may revere Reagan as the patron saint of low taxation. But the party of Reagan – which understood that higher taxes on the rich are sometimes required to cure ruinous deficits – is dead and gone. Instead, the modern GOP has undergone a radical transformation, reorganizing itself around a grotesque proposition: that the wealthy should grow wealthier still, whatever the consequences for the rest of us.

Modern-day Republicans have become, quite simply, the Party of the One Percent – the Party of the Rich.

"The Republican Party has totally abdicated its job in our democracy, which is to act as the guardian of fiscal discipline and responsibility," says David Stockman, who served as budget director under Reagan. "They're on an anti-tax jihad – one that benefits the prosperous classes."


How the GOP Became the Party of the Rich | Rolling Stone

How did the 1% convince 49% of the 99% to vote GOP? God, gays, guns racism and lies is how.

And the lotto mentality.

The Lottery Mentality - NYTimes.com

Americans actually live in Russia, although they think they live in Sweden. And they would like to live on a kibbutz. This isn’t the set-up for some sort of politically incorrect Catskills stand-up joke circa 1960. It is the takeaway from a remarkable study by Michael Norton and Dan Ariely on how Americans think about income inequality.

The right likes to argue that income inequality as an issue doesn’t win elections because Americans don’t begrudge the rich so much as they want to join them.

Americans are mistaken about income inequality because of national self-confidence and the lottery effect.

By national self-confidence, I mean the widespread conviction that the American way is probably right because all those other ways don’t seem to work out so well. This is a wonderful national quality and one of the reasons America has such resilience. But confidence in the American way can make it hard for the country as a whole to recognize when things aren’t working.

Take, for instance, the health care debate, when a politically effective criticism of what has come to be known as Obamacare was to argue that it would destroy the “best” health care system in the world. Mary Meeker, a Silicon Valley guru of impeccably capitalist and American credentials debunked that idea in her recent USA, Inc. presentation, in which she pointed out that “U.S.A. per capita health care spending is 3x OECD average, yet the average life expectancy and a variety of health indicators in the U.S. fall below average. But if you spend way more than everyone else, shouldn’t your results (a.k.a. performance) be better than everyone else’s, or at least near the top?”

Aside from faith in American national excellence, the other main reason Americans seem so unperturbed by the widening chasm between the rich and everyone else is what I like to call the lottery effect. Buying lottery tickets is clearly an irrational act -- the odds are hugely stacked against us. But many millions of us do, because we see the powerful evidence that an ordinary person, someone just like us whose only qualifying act was to buy a ticket, wins our favorite lottery every week.

For many Americans, the nation’s rowdy form of capitalism is a lottery that has similarly bestowed fabulous rewards on the Everyman. The current leading exemplar of self-made billions is Facebook’s Mark Zuckerberg, and he may soon be outstripped by the even more instant cyber-star Andrew Mason, the founder of Groupon.

But the problem with lotteries is that there are only a few winners. That is the story the numbers tell us about American capitalism today -- and unless that underlying reality changes, at some point all those folks who think they already live in Sweden will realize they live in a winner-take-all society, and that most of us aren’t winning.

 

[bedowin62]

YAWN
under Progressive rule the richest got richer, and the poorest got poorer

 

[sealybobo]

As a result of a pair of rate cuts, first under President Bill Clinton and then under Bush, most of the richest Americans pay lower overall tax rates than middle-class Americans do. And this is one reason the gap between the wealthy and the rest of the country is widening dramatically.


Capital gains tax rates benefiting wealthy are protected by both parties

Romney paid 1.94 million in taxes…he paid more than his fair share……did you pay 1.94 million in taxes asshole?

See everyone? I told you all that Republicans, if given the chance, would make the argument that a rich guy shouldn't pay any more taxes than a poor man. I KNEW IT!

That doesn't work stupid. And the guy who got rich didn't get rich in the utopia you dream of. In fact he would have NEVER gotten rich under your system of fairness and equality. You are a stupid fuck.

 

[bedowin62]

the more a brainwashed leftard posts; the less he's actually saying

 

[bedowin62]

As a result of a pair of rate cuts, first under President Bill Clinton and then under Bush, most of the richest Americans pay lower overall tax rates than middle-class Americans do. And this is one reason the gap between the wealthy and the rest of the country is widening dramatically.


Capital gains tax rates benefiting wealthy are protected by both parties

Romney paid 1.94 million in taxes…he paid more than his fair share……did you pay 1.94 million in taxes asshole?

See everyone? I told you all that Republicans, if given the chance, would make the argument that a rich guy shouldn't pay any more taxes than a poor man. I KNEW IT!

That doesn't work stupid. And the guy who got rich didn't get rich in the utopia you dream of. In fact he would have NEVER gotten rich under your system of fairness and equality. You are a stupid fuck.

the richest got richer on your Progressive watch stupid.....................and they passed on their tax hikes to the poor in the form of higher prices for goods and services


great job leftard!!

 

[sealybobo]

YAWN
under Progressive rule the richest got richer, and the poorest got poorer

So why aren't you a progressive then? And why isn't that money trickling down like you said it was. You are such an intellectually dishonest fool. Piss off stupid.

 

[sealybobo]

the more a brainwashed leftard posts; the less he's actually saying

Uhuhuh a yuk yuk you dumb fuk.

 

[bedowin62]

the poorest got porer on Progressives' watch

income inequality grew

libs are losers who lie to themselves

 

[Uncensored2008]

Your plane goes straight to Somalia...That is the perfect place for you!

Yes, and Soros has you monkeys trained to claim an Islamic Theocracy is "capitalist."



You fucktards amaze me. Stupidest creatures on the planet.

 

[sealybobo]

As a result of a pair of rate cuts, first under President Bill Clinton and then under Bush, most of the richest Americans pay lower overall tax rates than middle-class Americans do. And this is one reason the gap between the wealthy and the rest of the country is widening dramatically.


Capital gains tax rates benefiting wealthy are protected by both parties

Romney paid 1.94 million in taxes…he paid more than his fair share……did you pay 1.94 million in taxes asshole?

See everyone? I told you all that Republicans, if given the chance, would make the argument that a rich guy shouldn't pay any more taxes than a poor man. I KNEW IT!

That doesn't work stupid. And the guy who got rich didn't get rich in the utopia you dream of. In fact he would have NEVER gotten rich under your system of fairness and equality. You are a stupid fuck.

the richest got richer on your Progressive watch stupid.....................and they passed on their tax hikes to the poor in the form of higher prices for goods and services


great job leftard!!

Don't talk to me dummy. I can't handle stupid. I fuck stupid women but I don't talk to dumb bitches. Seriously, get lost fool.

 

[bedowin62]

YAWN
under Progressive rule the richest got richer, and the poorest got poorer

So why aren't you a progressive then? And why isn't that money trickling down like you said it was. You are such an intellectually dishonest fool. Piss off stupid.

it WAS trickling down until progressive got in charge idiot

 

[sealybobo]

Your plane goes straight to Somalia...That is the perfect place for you!

Yes, and Soros has you monkeys trained to claim an Islamic Theocracy is "capitalist."



You fucktards amaze me. Stupidest creatures on the planet.

Ohhhh the boogie man soros. Everyone run!!!