BREAKING: Trickle down economics is BULLSHIT! - The wealthy should pay more taxes!

How about we go to a National Sales tax, INSTEAD of an income tax. That way we all pay on what we consume. I'm not even rich, and I agree with that.

So, what is wealthy to you?

Jealous much?

I agree with a national sales tax, but any income that exceeds 150,000k should also be taxed at a certain percentage. Millionaires and billionaires generate a lot of revenue that doesn't get used, it just sits in banks or in other investments and it's a total waste. Some of that money should be used to build & repair our infrastructure and to help build a more sustainable society.

I really don't see how taxing the wealthy actually helps anyone else. The government is just going to blow any additional revenues generated...probably through new contracts with the same people and corporations that they're taxing.

At best, you might get a one-time $400 tax refund or something. Meanwhile, you may pay for it in the form of higher product costs and fewer jobs. But that's OK, because we've punished those evil rich people.

Disgusted is more like it.
We could be living in a very sustainable, futuristic society if our country actually used its wealth and resources wisely.

The tax rate on high incomes was much higher in the 1950's and 1960's, and those were the most prosperous times in America, with massive economic growth. So history seems to tell me that raising taxes on the wealthy, and lowering taxes on the poor and middle class would be a HUGE benefit for everyone.

but can't you just feel the trickle??

Please answer my question OP.

If I was one of the wealthy you talk about, and had sufficient wealth that myself and my children could live comfortably without generating any additional income, I would do just that.

If I had a business, I would simply close it.

If I was investing my money in anything (stockmarket, etc...), I would stop.

I would ensure that my estate did not generate a single penny so that my income tax liability would go to zero.

This is what your taxation policies will eventually produce...

OP isn't interested in economic facts or matters of philosophical morality.

He's an envious, poor, talentless drone, and he wants everyone else to be brought down to his level using the force of hired goons.

THE WEALTHY SHOULD PAY ALL THE TAXES

Um no.

If you want fairness and equality everyone should pay 20%, even the poor.

-Sara

The banks don't just sit on the money. They loan it out and make other investments that put those funds right back out into the open economy. And when they have excess funds from all those evil rich people, it also tends to lower loan interest rates, which helps the average consumer.

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this…

The first four men (the poorest) would pay nothing
The fifth would pay $1
The sixth would pay $3
The seventh would pay $7
The eighth would pay $12
The ninth would pay $18
The tenth man (the richest) would pay $59

So, that’s what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve ball.

“Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20″. Drinks for the ten men would now cost just $80.

The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still drink for free. But what about the other six men ? How could they divide the $20 windfall so that everyone would get his fair share?

The bar owner suggested that it would be fair to reduce each man’s bill by a higher percentage the poorer he was, to follow the principle of the tax system they had been using, and he proceeded to work out the amounts he suggested that each should now pay.

And so the fifth man, like the first four, now paid nothing (100% saving).
The sixth now paid $2 instead of $3 (33% saving).
The seventh now paid $5 instead of $7 (28% saving).
The eighth now paid $9 instead of $12 (25% saving).
The ninth now paid $14 instead of $18 (22% saving).
The tenth now paid $49 instead of $59 (16% saving).

Each of the six was better off than before. And the first four continued to drink for free. But, once outside the bar, the men began to compare their savings.

“I only got a dollar out of the $20 saving,” declared the sixth man. He pointed to the tenth man,”but he got $10!”

“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar too. It’s unfair that he got ten times more benefit than me!”

“That’s true!” shouted the seventh man. “Why should he get $10 back, when I got only $2? The wealthy get all the breaks!”

“Wait a minute,” yelled the first four men in unison, “we didn’t get anything at all. This new tax system exploits the poor!”

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks so the nine sat down and had their beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and government ministers, is how our tax system works. The people who already pay the highest taxes will naturally get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas, where the atmosphere is somewhat friendlier.

This thread reeks of the OWS.

can you imagine the laws that would generate..?

In a way, this may already be happening under the guise of corporate investment and charity donations.

It's not "the country's" wealth. It is the wealth of individuals to which you have zero right. And God help us, envious simpletons like you are currently defining what "wisely" means, and it's killing us.

You're a perfect example of why I think being a member of the Democrat Party should be a felony.

A sales tax, not an income tax. Base it on what we consume, not what we earn girl!

Care to post proper attribution ?

That is not yours.

You're not very bright, are you?

Focus on effective tax rate and others.

[link to www.pgpf.org]

Correct. That would be immoral, but fair.
As it is, the income tax is both immoral and unfair.

Care to stick it up your ass?

I'll go out on a limb, and say the OP has no idea in the difference between solid assets, and liquid assets.

Really?
Fine whiner: [link to www.fortunewatch.com]

Right on governor

No.

But, stealing others words is ok with you ?

You're part of the OWS too, aren't ya ?

Aren't ya ?

A flat Federal sales tax would be the most moral taxation option.

It would also remove the most power from the political class to manipulate portions of the populace, so it will never be enacted.