Millonaire tax a bust?

[mjmjpfaff]

http://www.zerohedge.com/news/obamas-millionaire-tax-collected-over-next-ten-years-will-plug-4-months-worth-deficit

some cold hard facts for you guys. seems the millionaire tax will keep us at the same spot for 4 months, that is for a years worth of taxes.

 

[DelroyMonjo]

Tax, tax, tax, tax, tax. Fair, fair, fair, fair, fair. Green energy good, oil bad. Millionaires and Billionaires making $250,000/yr.Bad! Millionaire Wall St. and Hollywood Obama supporters, Goood! Corporate jets, Badd! AF1, Good!
Flaunting the U.S Constitution, OK for Obama. Wanting adherance to the Constitution, Bad for Tea Party.

I'm confused. Does my avatar help?

 

[megamanx00]

Then that only leaves 8 months of accumulated debt to worry about, rather than 12. 8 months is closer to zero, and well we want to at least get to 0 sometime in our lifetime or we'll end up like Greece

 

[mjmjpfaff]

Then that only leaves 8 months of accumulated debt to worry about, rather than 12. 8 months is closer to zero, and well we want to at least get to 0 sometime in our lifetime or we'll end up like Greece

and how will we get the extra 8 months?

 

[Mastervivi10]

I'm rather more discussed with the fact that income tax is not supported by ONE law in the US and so many people keep paying it.

 

[mjmjpfaff]

I'm rather more discussed with the fact that income tax is not supported by ONE law in the US and so many people keep paying it.

that is technically true.

 

[megamanx00]

and how will we get the extra 8 months?

You have to take the race a lap at a time. Besides, even if there were two more programs to deal with the other 8 months you'd ask the same question for each.

 

[jsc]

Reducing the deficit just means that we are going broke a liitle more slowly.

We need a balanced budget amendment with teeth.

 

[Nim Chimpsky]

I've got an idea. On top of raising taxes on high earners to what they are for low earners, we could divert defense spending to something productive.

 

[DelroyMonjo]

Hey Chimp! Hummers, 737's. MRE's, low cost housing, watches with second hands and bubble gum!
OK, let's all give our money to the gov't so they can scrape off 35% to 50% before they give it to their 'consituents, the poor, elderly, and indigent. Who are no better off now than they were 60 years ago!!!

 

[Nim Chimpsky]

Hey Chimp! Hummers, 737's. MRE's, low cost housing, watches with second hands and bubble gum!
OK, let's all give our money to the gov't so they can scrape off 35% to 50% before they give it to their 'consituents, the poor, elderly, and indigent. Who are no better off now than they were 60 years ago!!!

Is that supposed to be an argument against taxes?

 

[Reynod]

The smart way to keep people passive and obedient is to strictly limit the spectrum of acceptable opinion, but allow very lively debate within that spectrum.

N Chompsky

 

[Nim Chimpsky]

The top 25% of wage earners pay 86% of the federal tax burden. The bottom 50% pay ZERO in federal income taxes.

Not sure what your getting at. We already have wealth redistribution. Anymore, and people will just pull an Atlas shrugged and stop trying which will further degrade the tax base.

Top earners are already give over a third of their earned income to federal government. How much more do you want them taxed? 50%? 75%?

That's because they have a lot of money. You have to remember that they actually pay a lower percentage of their income. I don't think that's just, do you?

That's not true: we have actually asked people, and they say they'd rather be taxed more. Doesn't it sound kind of ridiculous to you when Bill O'Reilly says he'll "stop trying" if you tax him too much?

No one is proposing a 50% or above tax rate. The top bracket is currently at 35%, but if you read Warren Buffet's article, he points out that investors can avoid that essentially by reinvesting in themselves. He himself paid only 17.4% of his taxable income; you probably paid more than that.

 

[wanamingo]

We could use some of the $1,264,585,138,992 spent on war since 2001.

Wouldn't ending frivolous spending make a safer country?

http://www.usdebtclock.org/ Look on the bright side all of us only owe about 131,000$, so whenever you can get that money..........

 

[Agold]

To the guy above, you kind of got that figure wrong. Oil executive make that much money IN A DAY. And half the oil companies profits are subsidized by AMERICAN TAX PAYERS. The system is completely ******* broken and corrupt. The crash is coming. Hold on to your butts. And apparently cutting social security for all those lazy ******* old people in their perscription drug induced comas is far more important then cutting back our military industrial complex. I mean, god forbid we put those engineers and developers to work benefiting our society at home instead of working on ever more lethal killing machines. Thus is man's nature I guess.

 

[spentshells]

who is that fella wanting to do the 7 7 and 7 taxes.

 

[billybobser]

Don't get why Yanks jump to the defense of Millionaires.

And as for the incapability to understand why Millionaires pay less % of the income in tax, despite being on a higher tax rate.

Consider how much someone on a no/low tax rate has to spend on 'luxuries' or 'investments' as a % of their income.

Which may be why some consider that basics such as food/water/shelter shouldn't be a business to make profit (unless ofcourse you talk about luxury food/water/shelter).

That way, I guess everyone could start equal, with basics provided and from which they can start on their way to the 'American Dream'.

Those with money, exert a certain control on us, and privatising things that you would consider 'essential' to existing can put you in a position you cannot get out, so you can be continually milked.

 

[wunderkinder]

The issue comes down to a lot of things. It is hard for media to explain it to people since the media has to be simple for the simple folks to understand. Good vs. Evil. Right vs Wrong.

1) You have to make taxes fair for all. No easy solution here so we have to work on what we know works and modify from there. Smaller changes better than drastic.
2) Corporations are not people.
3) All election fundings should have a limit. We need more options than 2 parties, media has to push this.
4) Folks need to understand we can't all be bill gates. So we need to fund social programs to help other people out. It's easy to ignore the issues but make the effort to go see why skid row in LA is the way it is. Most of those people have serious mental etc issue. They need support and as humans and a community we need to help them.
5) we need to recognize other countries soverignty and support then, instead of invading and playing around in their politics
6) Fair trade? A lot of power countries subsidize food, resource production etc. The world need to bring the countries out of poverty and stop explotiing workers.
7) Capitalism benefits a few while exploiting billions. While I don't honestly believe there is an alternative that really works a middle needs to be made that promotes capitalism but also giving back a form of socialism ( the dreaded S word ). Also realize that Steve Jobs doesn't need 10 billion dollars, he needed to give back.

 

[Sunfighterlc]

Corporations are people, sorry. How are they any different from special interest groups we have now? Corporations are publicly traded, thus THE PEOPLE own the company. Ever go to a shareholder meeting before? The company panders to THE PEOPLE because without them, there is no company. Corporation = People. And said company has the best interests of all its shareholders in mind and thus will aggressively lobby congress to improve the stakes and lives of THE PEOPLE. It is NO DIFFERENT from the special interest groups we have now. zero difference.

 

[billsone]

Also realize that Steve Jobs doesn't need 10 billion dollars, he needed to give back.

Jobs could have ended his career as a businessman, folded up and quit working when He had 250 million.

 

[chunkymonster]

Don't get why Yanks jump to the defense of Millionaires.

And as for the incapability to understand why Millionaires pay less % of the income in tax, despite being on a higher tax rate.

Consider how much someone on a no/low tax rate has to spend on 'luxuries' or 'investments' as a % of their income.

Which may be why some consider that basics such as food/water/shelter shouldn't be a business to make profit (unless ofcourse you talk about luxury food/water/shelter).

That way, I guess everyone could start equal, with basics provided and from which they can start on their way to the 'American Dream'.

Those with money, exert a certain control on us, and privatising things that you would consider 'essential' to existing can put you in a position you cannot get out, so you can be continually milked.

Not being a Yank, not being intimate with American society, and not knowing what it actually means to be an American, I will forgive your gross misunderstanding of the issues you comment on.

 

[mjmjpfaff]

We could use some of the $1,264,585,138,992 spent on war since 2001.

Wouldn't ending frivolous spending make a safer country?

http://www.usdebtclock.org/ Look on the bright side all of us only owe about 131,000$, so whenever you can get that money..........

there are just some things that you cant fix. one of them would be the middle east. they need to try and figure it out for themselves.

 

[mjmjpfaff]

Don't get why Yanks jump to the defense of Millionaires.

And as for the incapability to understand why Millionaires pay less % of the income in tax, despite being on a higher tax rate.

Consider how much someone on a no/low tax rate has to spend on 'luxuries' or 'investments' as a % of their income.

Which may be why some consider that basics such as food/water/shelter shouldn't be a business to make profit (unless ofcourse you talk about luxury food/water/shelter).

That way, I guess everyone could start equal, with basics provided and from which they can start on their way to the 'American Dream'.

Those with money, exert a certain control on us, and privatising things that you would consider 'essential' to existing can put you in a position you cannot get out, so you can be continually milked.

that would not be an american dream. it would be a communist dream.

 

[JAYDEEJOHN]

Most of us know someone whos done well, whether it was a friend from school, elsewheres, family , or someone from a family.
When success is this close, it makes it a possibility, not a dream
It isnt easy, sometimes right place right time, luck, born to do it etc, it happens, people have monetary success, and to wish harm, or take away from them shows more about those whod do so, than those whose earned it

 

[tacobravo]

Don't get why Yanks jump to the defense of Millionaires.

And as for the incapability to understand why Millionaires pay less % of the income in tax, despite being on a higher tax rate.

Consider how much someone on a no/low tax rate has to spend on 'luxuries' or 'investments' as a % of their income.

Which may be why some consider that basics such as food/water/shelter shouldn't be a business to make profit (unless ofcourse you talk about luxury food/water/shelter).

That way, I guess everyone could start equal, with basics provided and from which they can start on their way to the 'American Dream'.

Those with money, exert a certain control on us, and privatising things that you would consider 'essential' to existing can put you in a position you cannot get out, so you can be continually milked.

How soon did most people forget about the American Dream. Everybody wants to be rich but doesn't want to work for it at all. This totally disgusts me. This is a battle of haves and have nots. Rather than people just bitching about things like this, go do something profitable and make some money. Everybody expects to get rich quick and do as little work as they can. The thing is that US politicians don't pay taxes on their income that they "earn" by "representing" the people. What would save a lot of money is not giving them a "retirement" check for 100% of what they make forever. Damn we could get out of debt pretty quick then!