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Thread: Would the rich miss 5%?

  1. #121
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    Re: Would the rich miss 5%?

    Quote Originally Posted by Ikari View Post
    I don't think that when some level is reached, people are given options to lower their tax rate while others making less are left with no such option. We can solve the problem by lowering everyone's taxes. Though we'll have to cut services as well.
    I'm all for cutting services.

    We can start with these junkie needle exchange programs here in california. And the junkie nurses to give junkies their shots "safely" programs. And then we can stop paying for all these spontaneous parades here. I mean, do we really need a mexican day every single month?

    That's just a start.

  2. #122
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    Re: Would the rich miss 5%?

    Quote Originally Posted by jallman View Post
    So they earned the right to...stop earning?

    You aren't even making sense. Face it, your logic is the same logic that the shoplifter uses. Walmart isn't going to miss it so just take it from them.

    That's not cool.
    No...that's not my logic.

    They still would be earning and still be considered a billionaire and still be able to afford a million islands or buying their own country if they want to even after paying their income taxes.

    What I am suggesting is that if these people paid more in their income taxes then we wouldn't have to pick up their slack. They are not making you rich. So why do you care so much? Do you understand that they would still be able to afford the nicest things in life? It is in no way stealing.

  3. #123
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    Re: Would the rich miss 5%?

    Quote Originally Posted by Hatuey View Post
    And you're dishonest in claiming the rich pay 'nothing' in taxes when in fact they pay more in a year than you and I could hope to pay in our lifetimes.
    Right. But they are still left with an even bigger amount to spend in one year than you and I could ever hope for.

  4. #124
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    Re: Would the rich miss 5%?

    Quote Originally Posted by jallman View Post
    I'm all for cutting services.

    We can start with these junkie needle exchange programs here in california. And the junkie nurses to give junkies their shots "safely" programs. And then we can stop paying for all these spontaneous parades here. I mean, do we really need a mexican day every single month?

    That's just a start.
    Right we should cut services, but we also should change the law. Some laws are just plain stupid that take away freedom.

  5. #125
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    Re: Would the rich miss 5%?

    Quote Originally Posted by stalin_was_a_nice_being View Post
    No...that's not my logic.

    They still would be earning and still be considered a billionaire and still be able to afford a million islands or buying their own country if they want to even after paying their income taxes.

    What I am suggesting is that if these people paid more in their income taxes then we wouldn't have to pick up their slack. They are not making you rich. So why do you care so much? Do you understand that they would still be able to afford the nicest things in life? It is in no way stealing.
    First of all, how are we picking up their slack? For some reason, I hardly think these people are living off the dole or not paying for their own medical care or accepting public funds for their living expenses.

    Secondly, I don't expect these people to make me rich. Third, I don't find it my concern to question what they are buying with their money. It's theirs just like mine is mine. If they buy a country or fund a soup kitchen, that's their right. I support that and care because I would like to maintain the same rights for myself.

    And yes, it is stealing to take more from them than their own share.

    If you wanna tax everyone the same based on a percentage, fine. That's fair. But to say that they owe 90% in taxes just because they are successful while I owe only 20%...just because???

    That's stealing. It's a double standard and it is penalizing success.

  6. #126
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    Re: Would the rich miss 5%?

    Quote Originally Posted by Hatuey View Post
    And you're dishonest in claiming the rich pay 'nothing' in taxes when in fact they pay more in a year than you and I could hope to pay in our lifetimes.
    I didn't say they pay nothing (it said practically nothing as it was a comparison to other tax bracket tax rates). I say those in charge have set the rules to allow them to unfairly lower their marginal tax rate over what the rest of the people have to pay. And it's true. Buffet pays a lower marginal tax rate than his secretary. The same is true with most of the people of that level. Buffet has a million dollar challenge for people in the top 1% if they pay a higher tax rate than their secretaries. No one has taken him up on it. The rules are set this way.

    Buffett blasts system that lets him pay less tax than secretary - Times Online

    Warren Buffett, the third-richest man in the world, has criticised the US tax system for allowing him to pay a lower rate than his secretary and his cleaner.

    Speaking at a $4,600-a-seat fundraiser in New York for Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (26 billion), said: “The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”

    Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent. Mr Buffett told his audience, which included John Mack, the chairman of Morgan Stanley, and Alan Patricof, the founder of the US branch of Apax Partners, that US government policy had accentuated a disparity of wealth that hurt the economy by stifling opportunity and motivation.

    The comments are among the most signficant yet in a debate raging on both sides of the Atlantic about growing income inequality and how the super-wealthy are taxed.
    Last edited by Ikari; 11-20-09 at 05:49 PM.
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  7. #127
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    Re: Would the rich miss 5%?

    Quote Originally Posted by Ikari View Post
    I didn't say they pay nothing. I say those in charge have set the rules to allow them to unfairly lower their marginal tax rate over what the rest of the people have to pay. And it's true. Buffet pays a lower marginal tax rate than his secretary. The same is true with most of the people of that level. Buffet has a million dollar challenge for people in the top 1% if they pay a higher tax rate than their secretaries. No one has taken him up on it. The rules are set this way.

    Buffett blasts system that lets him pay less tax than secretary - Times Online
    He's still paying a ****load more than his secretary. More than she will ever even earn, most likely.

    Should be a flat tax for everyone, or even better... no income taxes at all. People should not be taxed for being successful.

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    Re: Would the rich miss 5%?

    Quote Originally Posted by jallman View Post
    If you wanna tax everyone the same based on a percentage, fine. That's fair. But to say that they owe 90% in taxes just because they are successful while I owe only 20%...just because???
    Exactly, the top 1% don't do that. It's 30% for the middle class, ~17% for the top 1% without even trying. I'm sure there are plenty of rules and loopholes in place that would allow them to lower it beyond that. The lower-upper class pay a ridiculous amount of taxes. Even some base percentage of money isn't 100% fair as it's regressive. 30% of someone's income who is poor is huge compared to someone who has more money. And the poor tend to be using well less public services as well. There's a lot of problems with our current tax structure, and I think mostly across the board taxes are well too high. We can cut a lot (it would take way more than ending some needle exchange program which isn't even a blip on the budget scene) of bureaucracy and government agencies to lower taxes along with repealing laws and other mechanics which create huge costs.
    You know the time is right to take control, we gotta take offense against the status quo

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    Re: Would the rich miss 5%?

    Quote Originally Posted by rivrrat View Post
    He's still paying a ****load more than his secretary. More than she will ever even earn, most likely.

    Should be a flat tax for everyone, or even better... no income taxes at all. People should not be taxed for being successful.
    People shouldn't taxed period.

    But we have chosen a system that taxes people, and we have chosen separate tax rates. So even if Warren buffet made 46 million and was taxed 17.7 percent. That is wrong regardless if he is still paying more in taxes than what his secretary is. The tax rate should be opposite. Warren pays 30 percent and his secretary 17.7. Or it shouldn't be that way because she is a secretary and secretaries and that sort are all scum?

  10. #130
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    Re: Would the rich miss 5%?

    Quote Originally Posted by rivrrat View Post
    He's still paying a ****load more than his secretary. More than she will ever even earn, most likely.

    Should be a flat tax for everyone, or even better... no income taxes at all. People should not be taxed for being successful.
    Not marginally they aren't. And flat tax is a regressive tax. We have to have some form of tax somewhere for the government to run. I just don't think we should purposefully set the situation so that the top 1% don't have to pay as much as everyone else and allow rules and regulation which stifle mobility.
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

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