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Old 11-20-2009, 04:24 PM   #1381
Redux
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Originally Posted by TheMercenary View Post
If you want to redistribute wealth from those who worked hard to make money and give it to those who haven't been so fortunate, you are promoting a socialist ideal. Wealth Redistribution.

http://en.wikipedia.org/wiki/Socialist_economics
Or as I proposed a long time ago in this discussion...raise the FICA rate, which is currently capped on wages over $100k. Those under $100K pay 6% and the rate effectively goes down as wages go up. A person making $300K only pays 2% (6% on the first $100K, then 0% on the last $200K).

Is it "fair" that you pay a 6% FICA tax and a guy with a $1 million salary pays less than a 1% tax? Does he work harder than you?
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Old 11-20-2009, 04:33 PM   #1382
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Originally Posted by Redux View Post
Or as I proposed a long time ago in this discussion...raise the FICA rate, which is currently capped on wages over $100k. Those under $100K pay 6% and the rate effectively goes down as wages go up. A person making $300K only pays 2% (6% on the first $100K, then 0% on the last $200K).

Is it "fair" that you pay a 6% FICA tax and a guy with a $1 million salary pays less than a 1% tax? Does he work harder than you?
I could actually support something like that as long as all wages are taxed equally across the board and no one is exempt from paying the tax at the lowest end as well. Just do away with other taxes.
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Old 11-20-2009, 05:36 PM   #1383
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The best way to fund any revenue shortfalls, IMO, would be to extend the surcharge on the top taxpayers....from the top 1/2 of one percent to the top 2%....leaving 98% of taxpayers not impacted by the costs.
But why penalize the people who already pay the majority of taxes. Why not let the portion that pays the least pick up some of the slack?

November 20, 2009
Progressive Taxation is punishing success
Scott Strzelczyk

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According to the National Taxpayers Union, the top 1% of federal income tax filers paid 36.89% and 40.42% of all federal income taxes in 2004 and 2007, respectively. That equates to a 9.6% increase in the percentage of taxes paid over the four year period.

Total tax collected increased by 44% from 2004 to 2007; however the top1% actual taxes paid increased by 54% in the same period. The top 25% paid nearly 87% of all federal income taxes in 2007, while the bottom 50% paid 2.89%.
http://www.americanthinker.com/blog/...is_punish.html
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Old 11-20-2009, 10:02 PM   #1384
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I could actually support something like that.....
Oh man, we were SO close, I thought I saw

But then there was this:
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...and no one is exempt from paying the tax at the lowest end as well.
and this:
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Originally Posted by TheMercenary View Post
But why penalize the people who already pay the majority of taxes. Why not let the portion that pays the least pick up some of the slack?
Those who pay the least and/or living from paycheck to paycheck have no slack!
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Old 11-20-2009, 10:39 PM   #1385
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Originally Posted by TheMercenary View Post
But why penalize the people who already pay the majority of taxes. Why not let the portion that pays the least pick up some of the slack?

November 20, 2009
Progressive Taxation is punishing success
Scott Strzelczyk



http://www.americanthinker.com/blog/...is_punish.html
My heart simply breaks for the plight of those earning $400,000 or so per year. We must help these people anyway we can before its too late. If we continue to treat them this way they may retaliate by going on welfare.
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Old 11-20-2009, 10:53 PM   #1386
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My heart simply breaks for the plight of those earning $400,000 or so per year. We must help these people anyway we can before its too late. If we continue to treat them this way they may retaliate by going on welfare.
No, but I fully support them all paying a same percentage of their income as everyone else.
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Old 11-20-2009, 10:59 PM   #1387
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Those who pay the least and/or living from paycheck to paycheck have no slack!
Yea, they have so much extra lets just take it from them. When are you going to start the killing people in certain tax brackets so you can take their money and give it to those who pay little to no tax?
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Old 11-20-2009, 11:30 PM   #1388
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You don't kill people in certain tax brackets to take their money. You kill people in certain tax brackets to take their organs.
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Old 11-21-2009, 12:24 AM   #1389
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What about their piano's?
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Old 11-21-2009, 11:58 AM   #1390
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The upper 1 percent may have seen a 9.4% increase in taxes, but:

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Two-thirds of the nation’s total income gains from 2002 to 2007 flowed to the top 1 percent of U.S. households, and that top 1 percent held a larger share of income in 2007 than at any time since 1928, according to an analysis of newly released IRS data by economists Thomas Piketty and Emmanuel Saez.

During those years, the Piketty-Saez data also show, the inflation-adjusted income of the top 1 percent of households grew more than ten times faster than the income of the bottom 90 percent of households.
- Center on Budget and Policy Priorities

http://www.cbpp.org/cms/index.cfm?fa=view&id=2908



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Originally Posted by The Mercenary
Why not let the portion that pays the least pick up some of the slack?
Because the portion that pays the least is living paycheck to paycheck, trying to get by. Their incomes didn't show anywhere near the increase that the upper 1% did, and they can least afford higher taxes.

Why all this hand wringing over millionaires? Baby needs a new Mercedes?
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Old 11-21-2009, 01:31 PM   #1391
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During times of economic growth, the rich get richer faster. During times of economic contraction, the rich get poorer faster. So when they pick

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from 2002 to 2007
...as the timeframe to measure, when one recession started in 2001 and another in 2008, that's pretty much the expected result.
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Old 11-21-2009, 02:25 PM   #1392
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According to the US Census Bureau:

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From 2000 to 2007, workers at the 20th percentile saw a 6.0% decline in income, followed in 2008 by a further decline of 1.7%. Workers at the 95th percentile saw an increase of 1.2 percent from 2000 to 2007, but a decrease of 2.1% in 2008
http://www.epi.org/publications/entr...ture_20090910/

So, the upper income bracket is still much better off over all. Let them eat cake.
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Old 11-22-2009, 06:52 AM   #1393
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Because the portion that pays the least is living paycheck to paycheck, trying to get by. Their incomes didn't show anywhere near the increase that the upper 1% did, and they can least afford higher taxes.
People figure out how to get by. We could have a completely socialized system if every swinging dick paid the same percent of their income. Ask a guy who makes $1000 a week if he would be willing to give up $60 a week for free health care I bet he would agree in a heart beat. Everyone should pay for it.
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Old 11-22-2009, 07:46 AM   #1394
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People figure out how to get by...
Figure out how to"get by"....Now that is an impressive stat.

Your compassion is overwhelming!
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Old 11-22-2009, 07:58 AM   #1395
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Figure out how to"get by"....Now that is an impressive stat.

Your compassion is overwhelming!
Compassion lies in the ability to learn how to get people how to help themselves, not do it for them.
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