Why is taxing the rich considered so taboo by the non-rich?

[ElFenix]

What happened when Bush cut taxes?

http://www.cbo.gov/ftpdocs/81xx/doc8116/05-18-TaxRevenues.pdf

tax rates were cut in 2001 and 2003, iirc.

 

[MrX8503]

The top 1% are almost all business owners, and taxing them would give them less capital to expand their businesses or start new businesses. Hence, leaving them unable to hire additional employees to work in these new/expanded businesses.

Rich people dont just sit on their money. They invest it to try and make more. These business investments provide jobs to Americans.

By taxing them, you reduce they money they have to invest, resulting in a hiring drop which therefore increases unemployment. Or at the very least, does nothing to reduce it.


Example:

Business man X wants to hire average Joe's A B and C to open up a new store. Business man X no longer has the money to open up his new store since the government increased his taxes, leaving him with less capital to invest. That taxed money goes into the financial black hole known as the Federal Government, leaving average Joe A B and C unemployed and dependent on the Federal Government for food stamps, unemployment benefits, and housing assistance.

Too bad the trickle down theory doesn't actually work.

http://www.rationalrevolution.net/war/trickle_down.htm

"The truth is that "Trickle-Down" was never intended to help middle income and poor Americans; it was intended to help the wealthy and Corporate America."

 

[EagleKeeper]

People believe in the trickle down theory.

Once the government and those that control it finish screwing your neighbor down the block, they will then come after your next door neighbor and when finished with them, then you.

Most people feel that one should not be penalized for working hard.
But there are a few, some examples exist on this forum, that believe that you should not be able to improve yourself and should give unto others that do not want to work as hard as you.

 

[jackstar7]

Let's let the rich few keep all their money. They'll find it all amounts to a lot less when there's no actual economy to give value to it.


Say goodbye Middle Class and say hello Thunderdome.

 

[her209]

Regressive taxation won't happen.

Flat taxes hurts the poor.

Its the only thing left.

 

[dank69]

http://www.cbo.gov/ftpdocs/81xx/doc8116/05-18-TaxRevenues.pdf

tax rates were cut in 2001 and 2003, iirc.

So corporations did better but what about all those jobs the tax cuts were supposed to create? You know, the point that I am arguing here.

 

[jackstar7]

People believe in the trickle down theory.

Once the government and those that control it finish screwing your neighbor down the block, they will then come after your next door neighbor and when finished with them, then you.

Most people feel that one should not be penalized for working hard.
But there are a few, some examples exist on this forum, that believe that you should not be able to improve yourself and should give unto others that do not want to work as hard as you.

If the markets paid based on working hard teachers would outpace specialized medicine in salary. Heck, so would average wait staff.


Market values are not in line with your reasoning.

 

[nick1985]

Too bad the trickle down theory doesn't actually work.

http://www.rationalrevolution.net/war/trickle_down.htm

"The truth is that "Trickle-Down" was never intended to help middle income and poor Americans; it was intended to help the wealthy and Corporate America."

I didn't realize the "rationalrevolution" website was the say-all on the trickle-down economics.

 

[dank69]

People believe in the trickle down theory.

Once the government and those that control it finish screwing your neighbor down the block, they will then come after your next door neighbor and when finished with them, then you.

Most people feel that one should not be penalized for working hard.
But there are a few, some examples exist on this forum, that believe that you should not be able to improve yourself and should give unto others that do not want to work as hard as you.

Why does it have to come down to extremes for you? Why does raising taxes slightly = not being able to improve yourself?

 

[dainthomas]

The top 1% are almost all business owners, and taxing them would give them less capital to expand their businesses or start new businesses. Hence, leaving them unable to hire additional employees to work in these new/expanded businesses.

Rich people dont just sit on their money. They invest it to try and make more. These business investments provide jobs to Americans.

By taxing them, you reduce they money they have to invest, resulting in a hiring drop which therefore increases unemployment. Or at the very least, does nothing to reduce it.

If you're in the top 1% of earners and pay anywhere close to the top income tax bracket, you need to fire your tax accountant ASAP.

Ask Warren Buffet.

 

[Craig234]

lol, so that makes it right?

I have a question, why is it that the non-riches solution to everything is to tax the rich?

Because undertaxing the rich has a very high price for society.

Why is every question you ask a straw man? (see what I did there?)

 

[MrX8503]

I didn't realize the "rationalrevolution" website was the say-all on the trickle-down economics.

Google is your friend. I ran out of silver spoons.

 

[ElFenix]

So corporations did better but what about all those jobs the tax cuts were supposed to create? You know, the point that I am arguing here.

why do i need to argue your point?


edit: jobs data
http://factfinder.census.gov/servlet/DatasetMainPageServlet?_program=EAS&_lang=en

 

[JS80]

Along with the obvious its bad for economics, after government is done taxing "the rich," you are next in line to be taxed.

 

[MrX8503]

Along with the obvious its bad for economics, after government is done taxing "the rich," you are next in line to be taxed.

The middle class is being taxed to the ground now. Everyone wants a functioning country, but no one wants to pay.

 

[yllus]

http://www.cbo.gov/ftpdocs/81xx/doc8116/05-18-TaxRevenues.pdf

tax rates were cut in 2001 and 2003, iirc.

Huh, that's pretty interesting - so corporate tax rate cuts are arguably a good thing for everyone. I guess it doesn't answer the specific question asked in this thread (income taxes on individuals) but very interesting nonetheless.

 

[Hacp]

Because taxing the rich more is not fair.The rich are people too! In a fair world, everyone will be taxed at the same rate. In a socialist world, you tax the rich so high school drop-outs can stay on welfare.

 

[werepossum]

Something I just don't understand - why would the majority of people care if the taxes on say the top 1% richest people goes up?

Serious question.

Your position seems to be that since I have zero chance of ever being in the top 1% of income earners, I should be okay with taking more of their money for my own benefit. Why then would I not be equally opportunistic about everything else? I have zero chance of being black - should I then be okay with slavery? Should I consider rape acceptable since I have zero chance of ever having a vagina? I'll never be young again - how about a head tax on students? Young people irritate me more often than do the super high earners, after all, whom I tend to see only when I visit a doctor. It's certainly not the top 1% of wage earners driving by rattling my windows at 2AM playing drum and bass on a $3,000 stereo system in a $300 car.

Principles are not supposed to be what would most benefit the individual, but about what is fair. Government taking half of someone's earnings is hardly what I consider fair, even if government then promises to use that money for my benefit. Even beyond that, government programs tend to take on a life of their own, and government tends to only get hungrier. When government promises to take a dollar from "other people" to spend on my behalf, that dollar inevitably becomes five, so that the dollar going into my pocket inevitably becomes two coming out. So this is a losing proposition on both principle and practicality.

 

[MrX8503]

Because taxing the rich more is not fair.The rich are people too! In a fair world, everyone will be taxed at the same rate. In a socialist world, you tax the rich so high school drop-outs can stay on welfare.

The middle class is paying out more of their income than the wealthy.

 

[soulcougher73]

Ive wondered this as well. I always see people here defend the rich peoples low taxes as if they are one of them. Im middle class if that, and i say tax the hell out of the rich people so i can keep more of my meger earnings.

 

[soulcougher73]

I gave you your answer

Also keep in mind, the top 1% currently pays 38% of all income taxes the government recieves.

The top 1% also has like 95% of the money. Leaving 99% of the people with only 5% of the money. This seems familar. Was it Kings and Serfs?

 

[Hacp]

Ive wondered this as well. I always see people here defend the rich peoples low taxes as if they are one of them. Im middle class if that, and i say tax the hell out of the rich people so i can keep more of my meger earnings.

Would you walk up to a person and take money out of his pocket just because he has more than you? I wouldn't, its called stealing! And that's what you're doing when you vote that rich people need to pay a higher rate.

 

[cubby1223]

Something I just don't understand - why would the majority of people care if the taxes on say the top 1% richest people goes up?

Serious question.

Serious question? Really?

Is the solution to all our problems, vote people in to office to give us other people's money?

 

[spidey07]

The middle class is paying out more of their income than the wealthy.

That is a flat out lie. The top 10% pay incredible amounts of taxes and rates.

The super-duper wealthy you can make that statement depending on circumstances, but not "the wealthy"

 

[soulcougher73]

The middle class is being taxed to the ground now. Everyone wants a functioning country, but no one wants to pay.

This rich dont want a functioning government. They want to create the rules of the game Government is just a speed bump for corporations to try and avoid.