The rich are getting richer

[SuperTool]

Originally posted by: SuperTool

Originally posted by: StormRider

Originally posted by: Bowfinger

Originally posted by: SuperTool
What we need are nice progressive taxes like we had after the war.

I agree. Progressive taxation helps balance capitalistic systems.

Don't we already have a progressive tax? We don't want too progressive a tax where you have to pay 50% of what you earn. The rich might make more money but they also incur more expenses too.

For example, as I make more money, I also have incurred more expenses in terms of a big mortgage, etc.

I always thought a somewhat flat tax (with no loop holes and where if you make below a certain amount, you don't have to pay taxes) would be better.

Yes, we need a very progressive tax system with top marginal rate well north of 50%. We had it in the 50s and we had a huge economic boom.

And no, we don't have a progressive tax now if you include SS and medicare taxes which are regressive.

 

[daniel1113]

Originally posted by: SuperTool
Yes, we need a very progressive tax system with top marginal rate well north of 50%. We had it in the 50s and we had a huge economic boom.

Yes, let's tax those who are successful. After all, that's the American dream.

 

[dmcowen674]

Originally posted by: WinstonSmith
In the last several years real median income is down.

Note that is not true for the upper brackets.

You have a problem there. You'll never get the Republicans to admit the real median income for the middle and poor class is down.

They use fake numbers to show it is up.

 

[miketheidiot]

Originally posted by: StormRider

Originally posted by: Bowfinger

Originally posted by: SuperTool
What we need are nice progressive taxes like we had after the war.

I agree. Progressive taxation helps balance capitalistic systems.

Don't we already have a progressive tax? We don't want too progressive a tax where you have to pay 50% of what you earn. The rich might make more money but they also incur more expenses too.

For example, as I make more money, I also have incurred more expenses in terms of a big mortgage, etc.

I always thought a somewhat flat tax (with no loop holes and where if you make below a certain amount, you don't have to pay taxes) would be better.

when it comes down to it you probably already are paying over 50% of your income in taxes.

Property, sales, gas, income, etc

The rich may incure more expenses, but they also have much more more to incure expenses with. The are much more able to pay taxes (say 40%) than someone earning $5.50 an hour. A given tax rate is much more a burden on someone with a small income than someone with a large income, since they both have to pay for the basics (food, clothing, shelter)

 

[miketheidiot]

Originally posted by: daniel1113

Originally posted by: SuperTool
Yes, we need a very progressive tax system with top marginal rate well north of 50%. We had it in the 50s and we had a huge economic boom.

Yes, let's tax those who are successful. After all, that's the American dream.

Yes, let's tax those who are struggling. After all, thats the American dream

 

[daniel1113]

Originally posted by: dmcowen674

Originally posted by: WinstonSmith
In the last several years real median income is down.

Note that is not true for the upper brackets.

You have a problem there. You'll never get the Republicans to admit the real median income for the middle and poor class is down.

They use fake numbers to show it is up.

Those wealthy democrats sure would never do such a thing... only those gosh darn Republicans.

 

[daniel1113]

Originally posted by: miketheidiot

Originally posted by: daniel1113

Originally posted by: SuperTool
Yes, we need a very progressive tax system with top marginal rate well north of 50%. We had it in the 50s and we had a huge economic boom.

Yes, let's tax those who are successful. After all, that's the American dream.

Yes, let's tax those who are struggling. After all, thats the American dream

That's why we have a graduated income tax. Nice try.

 

[SuperTool]

Originally posted by: daniel1113

Originally posted by: miketheidiot

Originally posted by: daniel1113

Originally posted by: SuperTool
Yes, we need a very progressive tax system with top marginal rate well north of 50%. We had it in the 50s and we had a huge economic boom.

Yes, let's tax those who are successful. After all, that's the American dream.

Yes, let's tax those who are struggling. After all, thats the American dream

That's why we have a graduated income tax. Nice try.

That's why we have a regressive payroll tax. Nice try.

 

[HombrePequeno]

Originally posted by: BBond

When you earn $5.15 per hour as CEOs get away with millions the wage disparity and resultant polarization of wealth aren't conducive to your accumulating personal wealth. And before you blame the poor for their plight realize that the system is set up to benefit a very few people who have solidified their positions with the full backing of the U.S. government.

Honestly, how many people do you know that are making only $5.15 an hour? I'm a college kid with pretty much zero experience and I got a job starting at $8.50 and hour. Anybody who accepts minimum wage for a job deserves to be where they're at because more than likely, they have a complete lack of skills. If you've been in the workforce for a few years, you'd have no problem making more than minimum wage. And don't give me crap like, "Minimum wage is a starving wage!" because it's not meant for people to live on. It's meant for people to start out on and then move up from there.

 

[ntdz]

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: miketheidiot

Originally posted by: daniel1113

Originally posted by: SuperTool
Yes, we need a very progressive tax system with top marginal rate well north of 50%. We had it in the 50s and we had a huge economic boom.

Yes, let's tax those who are successful. After all, that's the American dream.

Yes, let's tax those who are struggling. After all, thats the American dream

That's why we have a graduated income tax. Nice try.

That's why we have a regressive payroll tax. Nice try.

Don't even try to say the rich don't pay their fair share of taxes. The top 1% pays 40% of the taxes in the country. Quit your bitching and thank them for paying your taxes.

 

[daniel1113]

Originally posted by: HombrePequeno

Originally posted by: BBond

When you earn $5.15 per hour as CEOs get away with millions the wage disparity and resultant polarization of wealth aren't conducive to your accumulating personal wealth. And before you blame the poor for their plight realize that the system is set up to benefit a very few people who have solidified their positions with the full backing of the U.S. government.

Honestly, how many people do you know that are making only $5.15 an hour? I'm a college kid with pretty much zero experience and I got a job starting at $8.50 and hour. Anybody who accepts minimum wage for a job deserves to be where they're at because more than likely, they have a complete lack of skills. If you've been in the workforce for a few years, you'd have no problem making more than minimum wage. And don't give me crap like, "Minimum wage is a starving wage!" because it's not meant for people to live on. It's meant for people to start out on and then move up from there.

:thumbsup:

 

[SuperTool]

Originally posted by: ntdz

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: miketheidiot

Originally posted by: daniel1113

Originally posted by: SuperTool
Yes, we need a very progressive tax system with top marginal rate well north of 50%. We had it in the 50s and we had a huge economic boom.

Yes, let's tax those who are successful. After all, that's the American dream.

Yes, let's tax those who are struggling. After all, thats the American dream

That's why we have a graduated income tax. Nice try.

That's why we have a regressive payroll tax. Nice try.

Don't even try to say the rich don't pay their fair share of taxes. The top 1% pays 40% of the taxes in the country. Quit your bitching and thank them for paying your taxes.

The rich don't pay their fair share of taxes. If the top 1% makes 90 times as much as those in the bottom 20%, that 40% number is not very impressive. I pay a higher combined tax rate than those making over $1M.

 

[daniel1113]

Originally posted by: ntdz
Don't even try to say the rich don't pay their fair share of taxes. The top 1% pays 40% of the taxes in the country. Quit your bitching and thank them for paying your taxes.

Actually, the updated figures even show that the top 20% of wage earners pay 80% of all federal income taxes.

 

[Riprorin]

The bottom 50%? They pay a paltry 3.97% of all income taxes. The top 1% is paying more than ten times the federal income taxes than the bottom 50%!

Link

 

[SuperTool]

Originally posted by: Riprorin
The bottom 50%? They pay a paltry 3.97% of all income taxes. The top 1% is paying more than ten times the federal income taxes than the bottom 50%!

Link

From your own link, average tax rate for the rich is 27.45%
Excuse me while I go cry for them, and pray that they make ends meet. I pay a higher combined federal tax rate than these top 1% and I am not in the top 1%. Someone who has 10 Million in a dividend paying stock getting 500K per year doing nothing will only pay 15% tax on dividends, while someone working their tail off for 70K per year will pay 25% income tax and 8% payroll taxes. Yeah, the rich are "overtaxed" :roll:

 

[daniel1113]

Originally posted by: SuperTool
Yeah, the rich are "overtaxed" :roll:

Who said "the rich" were overtaxed?

 

[SuperTool]

Originally posted by: daniel1113

Originally posted by: SuperTool
Yeah, the rich are "overtaxed" :roll:

Who said "the rich" were overtaxed?

Not me. They should be taxed a lot more.

 

[daniel1113]

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: SuperTool
Yeah, the rich are "overtaxed" :roll:

Who said "the rich" were overtaxed?

Not me. They should be taxed a lot more.

Why? Do they use more school-time than the average person? Do they do any more damage to the roads than the average person? Why should "the rich" be taxed more?

I don't know the answer to the above questions. Perhaps you do.

 

[SuperTool]

Originally posted by: daniel1113

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: SuperTool
Yeah, the rich are "overtaxed" :roll:

Who said "the rich" were overtaxed?

Not me. They should be taxed a lot more.

Why? Do they use more school-time than the average person? Do they do any more damage to the roads than the average person? Why should "the rich" be taxed more?

I don't know the answer to the above questions. Perhaps you do.

Because they receive a higher benefit from the American system, so they have to contribute more back into it. They do indirectly use the roads and the schools more, because the the benefits from transporting goods and services and from having an educated population goes disproportionately more to them.
Taxes are not tolls.

 

[ntdz]

Originally posted by: SuperTool

Originally posted by: ntdz

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: miketheidiot

Originally posted by: daniel1113

Originally posted by: SuperTool
Yes, we need a very progressive tax system with top marginal rate well north of 50%. We had it in the 50s and we had a huge economic boom.

Yes, let's tax those who are successful. After all, that's the American dream.

Yes, let's tax those who are struggling. After all, thats the American dream

That's why we have a graduated income tax. Nice try.

That's why we have a regressive payroll tax. Nice try.

Don't even try to say the rich don't pay their fair share of taxes. The top 1% pays 40% of the taxes in the country. Quit your bitching and thank them for paying your taxes.

The rich don't pay their fair share of taxes. If the top 1% makes 90 times as much as those in the bottom 20%, that 40% number is not very impressive. I pay a higher combined tax rate than those making over $1M.

No, you don't. Do you pay over 50% of your income in taxes?

 

[SuperTool]

Originally posted by: ntdz

Originally posted by: SuperTool

Originally posted by: ntdz

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: miketheidiot

Originally posted by: daniel1113

Originally posted by: SuperTool
Yes, we need a very progressive tax system with top marginal rate well north of 50%. We had it in the 50s and we had a huge economic boom.

Yes, let's tax those who are successful. After all, that's the American dream.

Yes, let's tax those who are struggling. After all, thats the American dream

That's why we have a graduated income tax. Nice try.

That's why we have a regressive payroll tax. Nice try.

Don't even try to say the rich don't pay their fair share of taxes. The top 1% pays 40% of the taxes in the country. Quit your bitching and thank them for paying your taxes.

The rich don't pay their fair share of taxes. If the top 1% makes 90 times as much as those in the bottom 20%, that 40% number is not very impressive. I pay a higher combined tax rate than those making over $1M.

No, you don't. Do you pay over 50% of your income in taxes?

Yes, I do.
Look at Rip's link. The top 1% pay 27% income tax rate. I pay a higher percent of my income in taxes.

 

[ntdz]

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: SuperTool
Yeah, the rich are "overtaxed" :roll:

Who said "the rich" were overtaxed?

Not me. They should be taxed a lot more.

Why? Do they use more school-time than the average person? Do they do any more damage to the roads than the average person? Why should "the rich" be taxed more?

I don't know the answer to the above questions. Perhaps you do.

Because they receive a higher benefit from the American system, so they have to contribute more back into it. They do indirectly use the roads and the schools more, because the the benefits from transporting goods and services and from having an educated population goes disproportionately more to them.
Taxes are not tolls.

THEY DO contribute more back into the system, thats why they pay higher taxes. You say they use schools more? Don't rich kids usually go to PRIVATE schools and private colleges?

 

[ntdz]

Originally posted by: SuperTool

Originally posted by: ntdz

Originally posted by: SuperTool

Originally posted by: ntdz

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: miketheidiot

Originally posted by: daniel1113

Originally posted by: SuperTool
Yes, we need a very progressive tax system with top marginal rate well north of 50%. We had it in the 50s and we had a huge economic boom.

Yes, let's tax those who are successful. After all, that's the American dream.

Yes, let's tax those who are struggling. After all, thats the American dream

That's why we have a graduated income tax. Nice try.

That's why we have a regressive payroll tax. Nice try.

Don't even try to say the rich don't pay their fair share of taxes. The top 1% pays 40% of the taxes in the country. Quit your bitching and thank them for paying your taxes.

The rich don't pay their fair share of taxes. If the top 1% makes 90 times as much as those in the bottom 20%, that 40% number is not very impressive. I pay a higher combined tax rate than those making over $1M.

No, you don't. Do you pay over 50% of your income in taxes?

Yes, I do.
Look at Rip's link. The top 1% pay 27% income tax rate. I pay a higher percent of my income in taxes.

That's impossible, 35% is the BASE income tax. Let alone sales tax, state income tax, capital gains, property tax, etc...

 

[SuperTool]

Originally posted by: ntdz

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: SuperTool
Yeah, the rich are "overtaxed" :roll:

Who said "the rich" were overtaxed?

Not me. They should be taxed a lot more.

Why? Do they use more school-time than the average person? Do they do any more damage to the roads than the average person? Why should "the rich" be taxed more?

I don't know the answer to the above questions. Perhaps you do.

Because they receive a higher benefit from the American system, so they have to contribute more back into it. They do indirectly use the roads and the schools more, because the the benefits from transporting goods and services and from having an educated population goes disproportionately more to them.
Taxes are not tolls.

THEY DO contribute more back into the system, thats why they pay higher taxes. You say they use schools more? Don't rich kids usually go to PRIVATE schools and private colleges?

What about workers whose labor builds the wealth for the top 1%? They are educated at taxpayer expense. They (the rich) don't pay higher combined tax rates than someone making below the payroll tax cap.

 

[SuperTool]

Originally posted by: ntdz

Originally posted by: SuperTool

Originally posted by: ntdz

Originally posted by: SuperTool

Originally posted by: ntdz

Originally posted by: SuperTool

Originally posted by: daniel1113

Originally posted by: miketheidiot

Originally posted by: daniel1113

Originally posted by: SuperTool
Yes, we need a very progressive tax system with top marginal rate well north of 50%. We had it in the 50s and we had a huge economic boom.

Yes, let's tax those who are successful. After all, that's the American dream.

Yes, let's tax those who are struggling. After all, thats the American dream

That's why we have a graduated income tax. Nice try.

That's why we have a regressive payroll tax. Nice try.

Don't even try to say the rich don't pay their fair share of taxes. The top 1% pays 40% of the taxes in the country. Quit your bitching and thank them for paying your taxes.

The rich don't pay their fair share of taxes. If the top 1% makes 90 times as much as those in the bottom 20%, that 40% number is not very impressive. I pay a higher combined tax rate than those making over $1M.

No, you don't. Do you pay over 50% of your income in taxes?

Yes, I do.
Look at Rip's link. The top 1% pay 27% income tax rate. I pay a higher percent of my income in taxes.

That's impossible, 35% is the BASE income tax. Let alone sales tax, state income tax, capital gains, property tax, etc...

You are clueless. If someone has 10M in a dividend paying stock, and gets a 500K/year dividend doing nothing, what percent tax rate do they pay?