View Poll Results: Where do you land?

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  • I am wealthy, and favor tax hikes for the wealthy

    9 10.34%
  • I am not wealthy, and favor tax hikes for the wealthy

    32 36.78%
  • I am wealthy, and against tax hikes for the wealthy

    0 0%
  • I am not wealthy, and against tax hikes for the wealthy

    34 39.08%
  • Other

    12 13.79%
  • Unsure

    0 0%
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Thread: Where do you land

  1. #61
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    Re: Where do you land

    I am for either a flat tax, who's rate is identical across the board... with no deductions. I would, perhaps, be OK with no tax on those under the poverty line, but probably not. More likely, I am in favor of NO income tax and a national sales tax instead. That would eliminate all deductions, all loopholes, and make everyone responsible for managing their money.
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  2. #62
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    Re: Where do you land

    Quote Originally Posted by Kandahar View Post
    Hard to say. But I interpreted the poll question in a more general, long-term sense rather than whether or not we need to raise taxes right now. If we're specifically focusing on the impact it would have on the recovery...I'd probably still lean toward raising them somewhat, although less so than I would at any other time in the economic cycle.
    my question at that point becomes - why raise effective tax rates at all when you can get the increased revenue through tax code simplification while keeping effective rates the same?

    Revenue increases helped to reduce the debt-to-GDP ratio from 1945 to 1980, but debt has grown faster than GDP since 1980. So the answer is that BOTH of those have historical precedent.
    given the rapid rise in the costs of our entitlement programs, this would entail significant cuts to discretionary spending. I find that exceedingly unlikely.

    We also have a lot more poverty and wealth disparity, and a lot less social mobility.
    yeah, funny how that works, isn't it? we expand programs to aid the poor and middle class, but somehow being the target of government programs doesn't seem to help them that much...

    I would definitely support something along those lines.
    hundreds of billions of dollars. we could put hundreds of billions of dollars back into the economy, creating jobs, making investments, opening new businesses, and all without raising taxes, reducing revenue, or otherwise costing the government a single red cent.

  3. #63
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    Re: Where do you land

    Quote Originally Posted by CaptainCourtesy View Post
    I am for either a flat tax, who's rate is identical across the board... with no deductions. I would, perhaps, be OK with no tax on those under the poverty line, but probably not. More likely, I am in favor of NO income tax and a national sales tax instead. That would eliminate all deductions, all loopholes, and make everyone responsible for managing their money.
    as well as encouraging savings, investment, and work rather than debt-driven consumption.

  4. #64
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    Re: Where do you land

    I voted other.

    I'm not in favor of raising taxes on the wealthy, I'm in favor of completely restructuring our tax system. I think a progressive income tax is necessary, but I don't like the way we currently do it. If things were changed the way I want them to be, and the end result was that the rich ended up paying more than they do now, I'm okay with it, as long as it isn't a ridiculous amount more.

    As far as my personal situation goes, I am definitely not rich, but my wife and I are both engineers, so we're comfortable.
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  5. #65
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    Re: Where do you land

    Interesting. 17/17 tie, with 8 'other'.

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    Re: Where do you land

    Quote Originally Posted by Harry Guerrilla View Post
    Other-

    I'm not in favor of using the tax system and income of individuals, as a political tool to divide people.
    Are you saying that's what I'm doing.

  7. #67
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    Re: Where do you land

    Quote Originally Posted by cpwill View Post
    Capital Gains is overwhelmingly paid by the higher earners
    Exactly, and it's taxed at a much lower rate than regular income...which makes the income tax less progressive than it appears at a first glance.

    so discussing their effect on effective rates hides the fact that they that population's share of the tax burden. Ditto for the other taxes you mentioned.
    I'm not sure what you mean. It's not just a matter of the effective rates being roughly the same (although they are). It's also a matter of the wealthy really not paying much more as a proportion of total taxes than the middle-class does, relative to the amount of income that they have. For example, the top 1% of earners take in 20.3% of the income in this country and pay 21.5% of total taxes. Whereas the middle quintile earns 11.6% of income and pays 10.3% in taxes. That doesn't look very progressive to me. In fact, it looks pretty flat.
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  8. #68
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    Re: Where do you land

    Quote Originally Posted by cpwill View Post
    my question at that point becomes - why raise effective tax rates at all when you can get the increased revenue through tax code simplification while keeping effective rates the same?
    I wouldn't mind keeping the effective rates the same if some variant of the Wyden-Gregg tax reform became law. At least for a few years until we can see how much additional revenue it actually brings in.

    given the rapid rise in the costs of our entitlement programs, this would entail significant cuts to discretionary spending. I find that exceedingly unlikely.
    Not necessarily, discretionary spending doesn't really need to be cut that much. As you pointed out, entitlements are rapidly rising...that's the real problem, not discretionary spending. We can tame the growth of social security with a few relatively small adjustments. Medicare/Medicaid are much more difficult to slow, but can be done with more cost control measures as has been the case in many other countries.

    yeah, funny how that works, isn't it? we expand programs to aid the poor and middle class, but somehow being the target of government programs doesn't seem to help them that much...
    The US offers a much smaller social safety net than any other developed country, and is among the worst in terms of poverty, wealth disparity, and (lack of) social mobility.

    hundreds of billions of dollars. we could put hundreds of billions of dollars back into the economy, creating jobs, making investments, opening new businesses, and all without raising taxes, reducing revenue, or otherwise costing the government a single red cent.
    I agree, simplifying the income tax code would be a great way to raise more revenue. Most of the deductions are pointless. I think the only ones I would keep would be charitable deductions and the Earned Income Tax Credit, and I would slowly phase out the mortgage interest deduction. Everything else should probably be taken out IMO. There is no reason that the income tax should take the average person more than 15 minutes to fill out, and even people with complex financial situations shouldn't need to spend more than a couple hours doing it.
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  9. #69
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    Re: Where do you land

    Quote Originally Posted by BDBoop View Post
    Are you saying that's what I'm doing.
    I don't think you're trying to do that, but I do think that politicians do so, to create an "us vs. them" mentality in people.
    It's a way to divide people, for arbitrary reasons.
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  10. #70
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    Re: Where do you land

    Quote Originally Posted by Harry Guerrilla View Post
    I don't think you're trying to do that, but I do think that politicians do so, to create an "us vs. them" mentality in people.
    It's a way to divide people, for arbitrary reasons.
    Is this an "always has been so" thing, or new in say the past 20-30 years? Or always has been so but has gotten worse.

    Damn, I have poll brain. >.>

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