The NEED TO Tax The Wealthy

tell that to the person making $30k a year working their ass off.

 

Let me add to this that if we based a higher rate at $250,000, that would only be taxable income. So these people would likely make over $300,000/yr. This isn't the same discussion as how much makes you wealthy, but it does help in reminding everyone that when we are talking about tax rates that taxable income is more important than gross income.

 

Tell that guy making minimum wage and working his ass off that 30k isn't a lot.

 

yea, because people making $250k a year don't lift a finger.......

 

what difference does taxing more make when that money is spent inefficienctly? People just want to tax more to those who have more (i won't even bother with vagueness of defining "wealthy", which is comical), but that doesn't address the real issue of poor spending by the govt.

 

I don't mind the wealthy paying more but I would like the government to spend a lot less too.

DD

 

How much of the nations wealth is owned by the top 1% 5% 10% income earners? How much tax does the top 1% 5% and 10% pay percentage wise of total tax?

 

Yes. Many programs should be cut or eliminated.

But it will be extremely hard to cut any major programs, these congressmen will fight to protect them if it is in their district.

 

This is very true. I consider spending to be the major problem long-term.

 

Thanks. For my purposes, Republican and Democratic past taxation policies are out the window. Trying to find the point of consensus is difficult. Many out there don't think $250,000 is wealthy. A good many have that much in their respective homes.

So far a very simple, graduated flat tax seems to be the most favorable response. My little hub has roughly 1,000 respondents, but this also is holding for my fellow hubmasters. Also, at this point favors starting the graduated tax at $35K rather than $40K. The high point for both the flat tax maximum and income level least max is where all heck breaks loose.

Regarding item #2, there is a definitely a huge cry for term limits and spending tied to income from taxation with an undetermined percentage set aside to retire debt.

On a personal note, my suggestion to move any person or corporation giving more than $5,000 total to any campaign, pac or politically motivated organization automatically into the highest tax bracket has some traction. Another idea getting consideration is that contributions to political organizations and candidates at all levels should be taxed at the same rate as corporations with excess campaign funds going into the general fund of the city, county, state or federal government for which the candidate / party was running.

Sadly, not many back my suggestion that the highest graduated flat tax bracket should be 55% for individuals and corporations alike.

 

its not about subjective terms. its about quantifiable comparisons. 250k in household income is around top 2%. wiki

 

That is household income not even individual income.

 

Taxing the wealthy too much hurts the economy. We've already learned that.

 

I forgot one other proposal that is drawng quite a bit of favorable discussion. That is:

No governmental, judicial or adminstration member is allowed to earn any money from any other source other than his governmental wage. Any money earned from speeches, honoraria, special considerations (like a lower percentage loan), investments, writings, etc. would go into the general fund of the governmental level he / she serves. Delayed compensation from a loophole or favorable vote would be considered as earnings while in office. In other words, cut out the rationale for graft.

 

I assumed we were talking household income the whole time.

 

yeah. i think he's highlighting that on an individual level, 250k would put you in a even higher individual bracket.

so 250k as a HOUSEHOLD puts you in top 2% of the households. if we looked at it in an individual taxpayer basis it would probably put you closer to 1%.

 

i never said that. i'm just trying to pre-empt the argument that some (not necessarily you) put forth that if you make less money, you are lazy or don't work as hard.

 

I know, I know.....I agree that statement is not accurate. $30k a year employees are some of the best workers....they just need to be a lil smarter with their money..........

 

not only that, im even ok with letting those that make between 250-500 have say even a bush era tax rate, if we add and incrementally increase taxes on those making over 500k.