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? What do you think? Share Your Views
- Don't we all as a people pay enough in tax? 50% of people pay no tax... I'm ok with that as long as the 50% who pay are not asked to pay more... Govt growth must be stopped. —Guest Arnold
- People in the upper incomes are already getting a tax break. The SS tax stops at 99k a year. When you look at all taxes(local,state,federal.etc..) the poorer you are the higher percent of income you pay in taxes. Most tax credits can only be taken by wealthy people and their corporations. If the wealthy paid as a percent of income as much as the poor we would not have a debt problem or at least be in better shape. But as has been reported major corporations and wealthy people pay between 0 and 15 percent of their incomes in tax. At the same time they demand the most of the income growth. The wealthy are not paying their fair share in the first place. A flat tax will never fix the problem unless all levels of government do the same. Many of the "loophole" started when the upper incomes were taxed at a much higher rate. So in all fairness the tax breaks need to be fixed or done away with or the rates increased.
- —Guest Robert
A Biblical View
- Well, if some want to use a Biblical view of wealth distribution here it is (and these are not my words, they are you know who's Word): 2 CORINTHIANS 8:13 "For I do not mean for it to be easy for others, but hard on you; 14 but that by means of an equalizing your surplus might also come to offset your deficiency, that an equalizing might take place. 15 Just as it is written: 'The person with much did not have too much, and the person with little did not have too little' "........ I'm sure I'll be criticized for "preaching", but you see, I am only the messenger.
- —Guest Gerard
no tax cuts or credits
- if some is making 20k and pay 25% in taxes. he is paying 5k so he has 15k to use. someone making 50k is probably paying 30%. he nets 35k. someone making 100k is probably paying 35%. he has 75k in net income. if some one is make 250k and paying 50% he is pay 125k but he is 125k. 500k h is making 250k. so if you look at thing in reality the are still making more and still has more to spend!! SO NO TAX CREDITS!!
- —Guest anon
- I do believe they should pay more. But my question is. All politicians. Make. More than 250. Thousand. How possible will it that they would pass that bill. I myself living barely above the poverty level.
- —Guest Edward Torres
- No. Sorry, but you already make so much... why do you need a tax cut? Save it for those that don't make as much but need that money. It might not be "fair" but when you are rich and you pay less in taxes (rate-wise) than what people below you earn- now that is leeching off the system.
- —Guest Gracie
Hell yes they should!
- They contribute the most in real dollars already. But really that's not the problem. If we want fair, then there is only one fair tax system and that is the flat tax system. No loop holes, no special circumstances, no poverty line. If you make a dollar you owe 25 cents (or whatever). This will never happen unfortunately. We are a nation of takers. Our hugely wasteful federal agencies like the IRS will fold. Many charities would fold, they'd actually have to work to rustle up money from truly charitable folks who are giving money with no conditions attached (like a tax deduction). Taxes will be so simple a grade schooler could file them. That's way too efficient for us. We need confusion, misdirection and masking of how and where funds go, we need to justify tax payers funding unnecessary employment in government. OMG, actually downsize the government? What a concept... Instead we completely insane with taxes and many other programs in the name of, well, greed frankly.
- —Guest SadTimeInAmerica
Rich and Taxes
- I believe that the Republicans & Democrats have successfully eliminated the middle class who were the back of our economy, therefore, with effectively no more middle class the Rich now have to pay for the Super Rich so tax cuts for the mere Rich will be eliminate over the next few years After this I believe there will be an uprising and like every other country on this planet (because Americans do not learn from history) which will lead to an all out war between the super rich and the rest of the classes - wanna guess who wins? Hint: read your history books
- —Guest Offthewallmom
What difference how much someone earns
- What does one citizen get from living in the USA that another doesn't? We are all protected by the same military to the same extent. We all have similar basic protections and opportunities to the extent possible. Pay your own way.
- —Guest Joe
- It's best not to polarise measures into either captalist or socialist and then take the merit of policies based on that. Even a lot ardent free-market capitalists believe that there should be some form of wealth redistribution. Secondly, the view that people earn exactly what they have worked for is short sighted. It doesn't take a genius to work out there are fewer millionaires coming from impoverished ghettos compared to spending their childhoods in country clubs. It is all very well saying that they could have done this or that in order to get a few more bucks or to get a mildly better education, but some people just don't understand what it is like for many poorer people who have never been encouraged to get an education or received advice at every step of their life as many more wealthy people do. Unfortunately, with a more flat tax rate, there will always be a cycle of poverty, which inevitably leads to a horrendous under-representation of what is best for the poor.
- —Guest Tom L
- From the many responses I readily surmised that many do not really appreciate the meaning of incentive. Have had a small business for 37 years. I began it without a loan, enough money to get a state business license, a container of chemical, a borrowed sprayer, enough money to make down payment on the required liability insurance. Oh yes, I had no telephone and a single wide mobile home with a wife and 3 children. It was tough but I had a desire to succeed. Not much money for personal profit for the vast majority of those years. In fact, there were weeks that employees received their paycheck but there was not enough for mine. No huge amount of money for me in stocks, IRA or in the bank. Can't get Soc Sec and let two of my children continue to operate the business and have the 10 employees continue to have a job. Gov determined that as pres I can name my salary. To get soc sec I can sell my business. If so will have to pay a huge percentage to the gov!! Fair? 65 All I wa
- —Guest Rtor
How much is enough?
- Even if you argue that the wealthy should be taxed more than the middle class... what % is enough? My effective tax rate with federal, state, sales tax is 30%. I sell real estate and if I made 30% commissions, I'd only have to do 1 sale every 5 years. It blows my mind that the gov't can actually spend all the money it takes in.
- —Guest Jim
- Does anyone really think that those folks who earn more than $250,000 a year were just given that money. Hard work, years of school and sacrifice are the ingredients to many of these people's resume. How about those millions of people that don't pay any taxes at all? Our government is too corrupt to provide a flat tax for everyone. Our Hollywood President won't work with Congress. Were sinking people, and going down fast!
- Don't we all as a people pay enough in tax? 50% of people pay no tax... I'm ok with that as long as the 50% who pay are not asked to pay more... Govt growth must be stopped.
- —Guest Arnold
get off your lazy butts
- Flat tax would maybe shut people up. I worked hard all mylife for what I have...now I see so many young healthy people playing the system for soc sec disability. So they sure as hell aren't paying taxes and they make it bad for those that really need it. I have a brother who worked his ass off to build a small business. A lot of you would whine your asses off if you had to work the hours he does...so do I think he should be penalized for earning 250,000 a year...hell no. He employs people pays a lot more in taxes then most of us do. He built his own business with his own sweat...not Hollywood Obama...biggest Hippocrate..time for him to do his job and quit campaigning...somebody should tell him the election is over. Cut out the bullshit programs and stupid spending and start working with congress like Clinton did instead of all his stupid division he does. Maybe then we wouldn't have to tax anyone to death.
- —Guest tired of freeloaders