The bloody cheek of it, it was only a matter of time before those poor souls got it as well.
Lets hope it is only a temporary glitch.
What next government funded drug research for medicines that actually work???????//
[Sarcastic Card]
How long does a boat have to be sinking before something gets done?
Originally posted by PinkFloydIt sounds good in a speech, but taxing the top 10% in America doesn't solve the problem. First, if you taxed the top 10% at a 100% rate, you still don't cover the annual deficit. Second, there is a difference between the "millionaires and billionaires" and the top 10%. If you are talking about those who make that much money each year, the most effective way to get $$ is to eliminate the tax loopholes the rich can afford. Heck, Warren Buffet paid a lower rate last year than I did, on more than two orders of magnitude greater income (maybe three).
It is well past time to increase the tax rate on the top 10% of the wealthiest Americans. They won't miss it, the poor doesn't have to lose what little they have and maybe, JUST maybe, the middle class will survive.
If you are looking at millionaires by net worth, you start hitting up most of the middle class. Your average government & corporate employees (including hourly) or union worker, covered by a pension, will have a net asset value over $1M when the future pension and benefits are added up. Not to mention anyone with a 401K or IRA they have been diligently saving for over the last 20-30 years.
But yes, tax the highest earners. But do it by getting the GEs, Warren Buffets and James Dimons (big Obama supporters) of the US to pay taxes. Raising rates and not closing their loopholes just hits the so called middle class.
Spending and the surplus spending of past years still needs to be addressed.
Originally posted by QuirkeTrying to find a solution to this using traditional methods will just not work.
It sounds good in a speech, but taxing the top 10% in America doesn't solve the problem. First, if you taxed the top 10% at a 100% rate, you still don't cover the annual deficit. Second, there is a difference between the "millionaires and billionaires" and the top 10%. If you are talking about those who make that much money each year, the most effective way t ...[text shortened]... ddle class.
Spending and the surplus spending of past years still needs to be addressed.
When the East was unlocked and the millions of little arbitrage games were brought into check it started an irreversible new way of life for everyone.
Just like the Industrial revolution the Internet revolution will have far reaching consequences and will take decades to level out.
Wake up folks. The entire IRS system is antiquated and needs to be abolished.
When it was written, the tax rates were based on the income levels in the 60's when
and annual salary or 100K a year was considered wealthy. The problem is, there were
no modifiers incorporated for adjustment. This is why the middle class gets pounded.
If you want to straighten the mess out, the fix is fairly simple and equitable, but the
politicians (especially the democrats) won't like it because it will be fair across the board
rather than this robin hood mentality they endear themselves too.
The movement is already beyond the grass roots level and it is gaining momentum.
They need to impose the flat tax, across the board, with NO exceptions.
Everyone should be equally impacted percentage wise.
Throw out all exemptions. This blows robin hood out of the water.
It gets rid of the freeloaders as well.
It also will not unfairly burden the wealthy and it will ease the pressure on the middle class.
You can't tax the rich, that's crazy! What if they all up and leave? They can afford to do that! If the rich leave that will just leave garbage men, custodians, dishwashers, and busboys with no where to work.
We'll all be living in cardboard boxes in a year, our TV's will go blank and Disney World will close.
Do NOT tax the rich, Obama! Big mistake!
Originally posted by Quirketaxing the richest 2% owning the 98% of everything won't give bang for the buck?? I highly doubt that.
It sounds good in a speech, but taxing the top 10% in America doesn't solve the problem. First, if you taxed the top 10% at a 100% rate, you still don't cover the annual deficit....
buffett supports raising the taxing of rich people by the way.
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Originally posted by QuirkeThis.
the most effective way to get $$ is to eliminate the tax loopholes the rich can afford.
It's also by far the best available middle-term way to reduce inequality in spending power. (Proper education for the poor is even better, but very much a long-term solution. And not easy to implement.)
And I'd like to say (bleedin' Rutte!) that it is needed in more countries than just the USA, too.
Richard