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Readers Respond: Should the Rich (families making over $250,000 a year) Get Tax Cuts?

Responses: 19

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Should the rich pay more taxes? The government says families earning more than $250,000 a year are wealthy, and should pay more in taxes because they can afford it more. Economists say they don't spend those tax cuts, anyway, they save them. Therefore, tax cuts to the wealthy don't stimulate the economy.

But, do higher taxes on the wealthy destroy the drive to profit, so important to capitalism? Do they make the U.S. more like a socialist state?

NO, the wealthy don't need help

Although it sounds like it may work, it really just causes recessions, as seen during Reagan, Bush 1, and even Bush 2. The middle class needs and deserves a tax cut. An economy built to thrive grows from the middle out, not from the top down. Though by definition, the wealthy do create jobs, tax cuts don't encourage them to create jobs. A strong and healthy middle class is what encourages job growth.
—Guest 012345678

Families making over $250.000 tax cuts:

Yes, families earning over $250.000 a year should recieve a tax cut, they have had the (good fortune) of being blessed to have more than the average person should have the right to enjoy it. I'm sure many will desire to share their (good...fortune) by investing some of it in areas that will help others who may be less fortuness. Those who may be more fortuness may and should have an incentive to invest in the economy, which will help others in most cases. If individuals and Corperations are over taxed, they will not invest into the economy, then we wlll have a period of (stagnation... and recession) just like what America and the world is going through at this time. Cutting taxes could be a "good thing."
—Guest Sammie McNeal Jr.

No bright future

Im 18, and worried about the country my generation will inherit.
—Guest Future Sailor Hunter

Logical Thinking and Taxes

What happens when the wealthy are the only ones able to pay Taxes? We are on this path, its slow; but stead fast. When the time comes, will they then use the 800 secret Federal prisons. One in Fairbanks Alaska that can control 1 Million people. This will be used to control the "Mentally ill", the other 799 prisons are spread out around the US and each can control 22,000 people. Is this the best solution, to jail 18.6 Million Americans, or would it make more sense, to finally start taxing the churches and all Tax exempt, so called religious organizations in the U.S. We have more physical proof that Aliens existed, than a God ever existing. They all claim to be non profit, they make Billions each year, where's the profits? Invested in Real Estate and Gold and many of their leaders, travel in Private Jets etc. Since the early 1950's conservative groups have tried to become Tax Exempt and have failed. The only other religious group that has come the closest, implemented the Bush Tax Cuts.
—Guest Wake up and smell the coffee

Interest from taxes!

Here is an idea, the federal government should tax everyone, middle class and rich alike and put the tax dollars in a bank and earn interest on it. If the government ever runs a surplus again they should bank that money. With the kind of money government deals with it would add up to a huge amount in no time! They could put the interest in Social Security or the general fund.
—Guest Marty Boone

Iver 250.00

NO tax cuts for any one, should have given the bail outs to the Tax payers of the United States. 100,000.00 each would have saved homes, bought new cars and other things like clothes and food that families need. The economy would have bounced back quickly. Next bail out better be to the people who spend and create the ecomony..
—Guest Wishing For Prosperity

Just one cent!

In addition, if 300 million Americans paid just one penny in a sales tax, it would equal 3 million dollars per one cent on the dollar! With many purchases this would add up to a significant amount. Just one cent also would not put a drag on the economy that critics tell us that taxes give us.
—Guest Marty Boone

Low tax!

No tax cuts, America needs revenue. I suggest a low tax on everyone including the middle class. The tax dollars should be used to pay off China! Thus reducing interest on the debt and saving the nation some money. If used for debt reduction, taxes save government money.
—Guest Marty Boone

Too Much Capital

The economy always needs to find balance. Right now we are awash in capital, and short on demand, so the taxes should skew to the wealthy. Once demand returns, then we need more investment, taxes should then skew lower down on the income scale. From a practical standpoint, right now savings earns nothing, and the market has a really poor risk-to-return ratio. My excess money should go to build up the economic system in general. I'll get mine later.
—Guest HomeyDogg

mcj

No and neither should Business if you earn an income you should have to pay taxes on that income. When our pensions are taxed and our 401K money when used is taxed why can't they share the burden.
—mcj145

no way

No they shouldn't! I am thankful to be an upper middle class business owner, but I don't deserve a tax break! I don't like to pay taxes anymore than the next person, but I dislike the record high defiset more! If u make more pay more very simple!
—Guest nwilagm

Corporations own the republican party

and the latest Supreme Court decision permitting no limit on financial support to political candidates and parties solidified that pact.The really sad part of this is that alot of the Wall Streeters whose recklessness caused the collapse of our economy and humiliated our country before the world will benefit by this ridiculous legislation.That really rubs salt in the eyes of the faltering middle and lower class.It also shows how dumb the middle class is because alot of them voted for the republican party knowing it was on their watch that the economy collapsed.
—Guest Jon Eric

America Wake UP

Do you people actually know how the rich stay rich. They have numerous tax shelters along with LLC's, off-shore accounts and various other shelters. While the working poor pay approx 35% of their income to taxes, the wealthy pay approx. 8% of taxable income, figure 8% of 500,000 to $l,000000. a year? Why shouldn't they pay? Or do you just enjoy giving all your hard earned money to the government and fat cats? Don't you know we're losing BILLIONS by allowing the rich to NOT pay their fair share.?
—1312_amber

Tax Cuts for All Makes Economic Sense

It's been said by many that the majority of those "making" (whatever that means) over $250,000 are small business owners. If we want the economy to grow, we have to keep their taxes low so they can re-invest and create jobs. The Congress should use their economic heads and keep the tax cuts for everyone. This is not the time for differentiating between the rich and the poor. Everyone knows that rich people can always find tax loopholes and ways to avoid taxes. Just give everyone the tax cuts and find other ways to cut the deficit.
—jeanbiztaxlaw

unemployment security or welfare?

I graduated h school in 1959 at the end the eisenhower adm. you could'nt buy a job in central fla. I worked summers in ill, enough to qualify for uncomp. a person had to report each week with a list of places you had called on in person to get your big rate of 33 dollars a week for 13 weeks hoping you could find a decent paying job before the benifits ended and you had to rely on your reputation to obtain credit. what really worries me now is that so many manufacturing jobs have been lost that we become a third world country of people trying to make a living selling pizzas to oneanother. possible the only way out is with another great war when "Fair Trade" will be lost in the dust of nuclear fallout. i
—Guest herby

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