Tax Raise on Rich for Tax Cut on Middle Class?

[GonFishn]

Now I'm not in any way shape or form what one could be described as a right-winger or left-winger, I kinda like to think that I'm a middle of the roader. Now I see Obummer's gonna ask for a tax increase to fund middle class tax cuts. Why? Folks we're 19 and counting trillion in debt, almost half of which this idiot put on us and our kids, kids. How about we raise the taxes on the rich and use it to pay on the debt, stop with the pandering to voters and do something for the country, or does that make too much sense?

I know folks will be up in arms about raising the taxes on the "rich", but it's way past time and I don't wanna hear any of the malarkey about percentage of income and all the other falderal. The tax rates for the so-called rich have never been lower than what they are now. As a case in point, after WWII, the rich were taxed something to the tune of 80% plus on anything over $300K, if you'll remember that why actors, Ronald Reagan, being one of them, stopped doing more than two or three movies a year so he wouldn't have to get bumped up into the top bracket.f By the way, that equals to 3,841,467.38 in todays dollars.

I guess what I'm saying is that its time to get back to that bracket but let's adjust for inflation.

Ok, I'm done, bring er on.

[sweetwater]

Now I'm not in any way shape or form what one could be described as a right-winger or left-winger, I kinda like to think that I'm a middle of the roader. Now I see Obummer's gonna ask for a tax increase to fund middle class tax cuts. Why? Folks we're 19 and counting trillion in debt, almost half of which this idiot put on us and our kids, kids. How about we raise the taxes on the rich and use it to pay on the debt, stop with the pandering to voters and do something for the country, or does that make too much sense?

I know folks will be up in arms about raising the taxes on the "rich", but it's way past time and I don't wanna hear any of the malarkey about percentage of income and all the other falderal. The tax rates for the so-called rich have never been lower than what they are now. As a case in point, after WWII, the rich were taxed something to the tune of 80% plus on anything over $300K, if you'll remember that why actors, Ronald Reagan, being one of them, stopped doing more than two or three movies a year so he wouldn't have to get bumped up into the top bracket.f By the way, that equals to 3,841,467.38 in todays dollars.

I guess what I'm saying is that its time to get back to that bracket but let's adjust for inflation.

Ok, I'm done, bring er on.

Here ya go.


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[mhall]

Miss Sweetwater you sure are one smart lady.....

[sweetwater]

Miss Sweetwater you sure are one smart lady.....

Thank you for the complement. I usually get called the other five letter word (b***h). I'm one of the 53% that has to pay taxes and I don't mind paying my fair share. A fair share ideally being an equal percentage or a flat tax. That’s fair, not someone pay 70% and someone else gets a refund of money they never paid! A 15% flat tax for example is fair to the guy that make 50K and fair to the guy that makes 200K even though the 200K guy would pay 4 times as much as the 50K guy would.

[SLP]

When the high pre-Regan tax rates are mentioned what people always seem to fail to understand is that the entire system was simplified. Those old rates were not really "true" rates in the sense that at the same time as those very high rates, and precisely because of those high rate there were also a slew of available deductions and tax shelters to where people could avoid paying taxes on much of their income. When they dramatically lowered the rates they also closed most of those loopholes and deductions at the same time in order to get everyone closer to a less corrupt, more accurate formulated rates. In essence truer rates. It isn't as great as a difference as you think when simply looking at old rates and current ones. In other words, people used to pay a higher rate on a much smaller portion of their income where now they pay a lower rate on a larger portion.

[know1]

I don't want to hear about raising taxes for anyone until I hear about lowering the budget.

[Devils Horse]

I don't want to hear about raising taxes for anyone until I hear about lowering the budget.

Ding ding ding ding ding ding. Let's see what our winner has won Johnny!

A no expenses paid round trip to his favorite fishing hole, Wink!!!...just as soon as it thaws out.

[GonFishn]

I don't want to hear about raising taxes for anyone until I hear about lowering the budget.

Ditto, that was the point of my whole post - use any raises to offset the deficit.

[know1]

Ditto, that was the point of my whole post - use any raises to offset the deficit.

No. I'm saying to cut the budget and not raise any taxes.

[roadrunner]

Gonfishin you will NEVER TAX YOUR WAY TO PROSPERITY. plus what right does the government have to take someones earned money and give it to someone who has done nothing to earn it????

You made a point that the rich were taxed 80% and they only made about three movies a year because of the tax, well if you keep taxing the rich they will retire and live off their wealth and then you will lose jobs or they will not expand and will not create any new jobs. What incentive would the rich have to keep risking their money by creating or expanding their business if they are not going to see any reward for their risk. The rich did not get rich by being stupid.

Obama has increased spending by one trillion dollars every year but last year. We have just had an 850 billion dollar tax increase last year this has to stop. We have to cut our spending We have to shrink the size of the federal government Raising taxes will not work cut spending and lower taxes you will create jobs for the middle class. Lower taxes on corporations so they will bring their money here and invest it in the economy jobs jobs jobs jobs is the answer not tax tax tax tax.

[sweetwater]

Gonfishin you will NEVER TAX YOUR WAY TO PROSPERITY. plus what right does the government have to take someones earned money and give it to someone who has done nothing to earn it????

You made a point that the rich were taxed 80% and they only made about three movies a year because of the tax, well if you keep taxing the rich they will retire and live off their wealth and then you will lose jobs or they will not expand and will not create any new jobs. What incentive would the rich have to keep risking their money by creating or expanding their business if they are not going to see any reward for their risk. The rich did not get rich by being stupid.
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I agree with all. I will add that the wealthy for the most part control what we wind up paying for goods and services. If you add tax burdens to the rich and powerful they will simply pass that burden down to us regular folks through higher prices and we wind up paying anyways. Flat income tax and a national sales tax equals problem solved and everyone is taxed fairly and equally.

[Devils Horse]

I agree with all. I will add that the wealthy for the most part control what we wind up paying for goods and services. If you add tax burdens to the rich and powerful they will simply pass that burden down to us regular folks through higher prices and we wind up paying anyways. Flat income tax and a national sales tax equals problem solved and everyone is taxed fairly and equally.

Agree with everything you said except national sales tax.

Install a flat income tax across all income brackets, no loopholes. Cut the federal government massively in scope and power. Start by eliminating the IRS and go from there. I could type the names of federal agencies that need to go till my fingers bleed and still not be done.