Let Us Raise Taxes

[Gregory Matthews]

The following is clearly not an objective political comment, but what political comments are objective?  For an interesting view on this subject see:

http://www.huffingtonpost.com/entry/why-we-must-raise-taxes-on-corporations-and-the-wealthy_us_59c917e5e4b01cc57ff3f715?link_id=9&can_id=bb57a8d9fec03d0dcafdbb275dbd14e2&source=email-activism-is-at-an-all-time-high&email_referrer=email_239042&email_subject=activism-is-at-an-all-time-high

BEFORE YOU ACCESS THAT ABOVE, BE AWARE:

IMPORTANT: This information should not be downloaded using government equipment, read during duty time or sent to others using government equipment, because it suggests action to be taken in support or against legislation. Do not use your government email address or government phone in contacting your lawmakers. Do not forward this email to government or home email addresses.

[rudywoofs (Pam)]

at first I thought Gregory had posted, "Let Us Praise Taxes," and I thought to myself, "Gregory, have you lost your marbles?!"

[Gregory Matthews]

Not the first time someone thought that I had lost my marbles.  Now most people who know me simply know that such can be expected from me.  My marbles are not lost, I have just deposited them in many places.

 

 

 

[Bravus]

Very, very gradually, I think people in the middle class are coming around to the idea that requiring the very wealthy to pay their fair share is not a terrible idea.

Plenty will still argue and vote against their own interests, but all the evidence is that trickledown simply does not happen. It's been tried good and hard for 40 years and wage growth has been flat for a decade.

The current US tax 'plan' will overwhelmingly benefit the wealthiest. That takes away resources from the whole community for those who already have far more than they can ever use.

[B/W Photodude]

2 hours ago, Bravus said:

I think people in the middle class are coming around to the idea that requiring the very wealthy to pay their fair share is not a terrible idea.

I find this whole concept of the rich being made to pay their "fair share" to be just more diversionary politics of the liberal left. Consider this:

Quote

The top 10 percent pays 53.3 percent of all federal taxes. When looking at just federal income taxes, they pay 68 percent of the burden.

The top 1 percent pays 24 percent of all federal taxes compared to 35 percent of all federal income taxes.

So, just how much more should the rich pay to be paying their "fair share"?

Other sources say the bottom 35% of taxpayers pay NO taxes which seemingly would mean they are NOT taxpayers!

There was a verse in Exodus I believe, where it said the rich would pay a certain amount and not a bit more. The poor would pay the same amount and not a bit less!

I guess the system of tithing is unfair to the poor because the rich are not paying their "fair share"!

[Bravus]

Let's see that text, please.

You've looked at individuals but not at corporations, which is part of the total taxation picture. 

It does actually make sense that those with more means contribute a greater share of what allows the country to run. In many cases they pay a lower tax *rate* on their wealth. For example, if the top 10% pay 53.3% of the tax burden we might think they own 53.3% of the wealth. In fact the top 1% own 35% of the wealth. The top 10% own 73% of the wealth.

So yes, they actually pay less than their fair share, relative to their share of the wealth.

[Bravus]

The bottom 40% of the population share less than 1% of the wealth between them. So yes, having them pay less than 1% of tax is fair.

[Outta Here]

I'd like to see salary caps. It's not the tax dollars that are creating the great divide between the wealthy and the less fortunate.There is no reason (IMO) that any one person (or small group of persons) should have that much control over that much money. 

[Gregory Matthews]

Much of the income of the wealthy comes form sources other than salary.  Investments is often a large source of income.  One of the reasons is that investment income may be taxed at a lower rate than that of the salary.  In addition, many of the wealthy are paid a salary that depends in part upon how well the organization/company does.  If it does well, they get a portion of the  increased profit to the company/organization.  If it does poorly they have their income reduced.  Further, some of the income to the wealthy comes from investment sources that is tax free.  This occurs due to the fact that  society believes that it is beneficial for people to invest in these areas, so to encourage people to  so invest, they make certain income sources tax free.

 

[Outta Here]

Yeah. I know. I was a business major in college. I should've saved my money and just waited 30 years for the summary.

I still think there should be salary caps, and investment caps, and wealth caps...too much money is in the hands of too few people. Could you imagine how different society would be if we were a bartering only system?! LOL

[phkrause]

Personally I believe there should be no loop holes!! Heard on the radio a while ago that some companies/corporations, use so many loop holes that they don't even pay one penny in taxes!! The tax systems is so complacated!! Why? Lets make it straight forward!!