How much should the rich pay?

[Grifter]

Serious query, what is the appropriate tax rate for the top 1% and 10% if the undertaxing of this group is really the reason we cant afford our current spending levels what tax rate would you advocate to get our overspending under control?

[nwarounder]

Originally Posted by Grifter

Serious query, what is the appropriate tax rate for the top 1% and 10% if the undertaxing of this group is really the reason we cant afford our current spending levels what tax rate would you advocate to get our overspending under control?

All Americans should pay the same tax rate, as equals. The more money you make the more dollars you pay. No deductions for being a good christian, having a jet, kids, poor, etc.

No spin on who who pays more by intermingling tax rates vs. total tax dollars paid. No matter what side of the fence you are on, only a moron would be unable to interpret the difference.

Oops sorry, didn't directly answer your question: The same rate as the 99%.

[LovingKayla]

What arounder said.

Someone making 500k a year will still be paying more than someone making 50k a year.


Besides, I hate to break this to you guys but the top 1% have some amazing tax secrets they use. It's all about what and who you know. Go make some friends...

[boardman]

Everyone needs to pay something...That way they have a vested interest in the system.

[Iaintliein]

A federal sales tax, that taxes all transactions equally, then a uniform refund per person to cover taxes paid on basic living expenses like food and shelter. Everyone pays based on consumption, all the riches in the world don't do anybody any good until they spend it.

[Missy Mariposa]

Originally Posted by nwarounder

All Americans should pay the same tax rate, as equals. The more money you make the more dollars you pay. No deductions for being a good christian, having a jet, kids, poor, etc.

No spin on who who pays more by intermingling tax rates vs. total tax dollars paid. No matter what side of the fence you are on, only a moron would be unable to interpret the difference.

Oops sorry, didn't directly answer your question: The same rate as the 99%.

Yes, this.

[joe bloe]

Great question. I don't think most people have any idea what percentage of the income tax the so called rich pay. Most people just want someone else to pay. It's like the old saying: "don't tax me, don't tax thee, tax that other guy behind the tree"

The answer to our deficit/debt crisis is to reign in federal spending and encourage economic growth. Nothing else will work. Constantly raising taxes is a dead end. Higher taxes slow economic growth, which decreases revenue, which creates the need for even higher taxes; its a death spiral. America will end up like Greece or in the worst case scenario like the Weimar Republic.

I honestly believe that the radical left (Obama, Pelosi, Reed etc) is shooting for a Weimar Republic situation because it would be the crisis that Rahm Emanuel talked about when he said you never let a crisis go to waste. A complete collapse of the currency and the chaos that would follow is precisely what the radical left wants in order to dramitically increase their power.

[nwarounder]

Originally Posted by Iaintliein

A federal sales tax, that taxes all transactions equally, then a uniform refund per person to cover taxes paid on basic living expenses like food and shelter. Everyone pays based on consumption, all the riches in the world don't do anybody any good until they spend it.

I'd be buying my rolex, jewelry and expensive items overseas. Our governments powers stop at our borders and cannot force businesses in foreign countries to collect a tax for our government. Sure, you will still be taxed on essentials, but your giving the wealthy a huge tax break on their expensive purchases with that in place.

[Jackie S]

Don't get their rate of tax liability mixed up with what they really pay.

The only fair tax is a consumption tax. If a person makes that makes $20,000 a year buys an item that cost $100, he pays $20 in taxes if the rate is 20 percent. If a Person that makes $500,000 a year buys an item that cost $10,000, he pays $2000 in taxes at 20 percent. You make more, you spend more, you pay more in taxes.

The only reason Polititians do not like this is because there is no rewarding your buddies with favorable tax write offs.

The only way we will ever make the current system work is simply remove ALL deductions. No tax write offs for anything. You write a check for what ever bracket you are in.

As long as the tax code is used by polititians to either curry favor, or punish enemies, it will never be fair.

[Iaintliein]

Originally Posted by nwarounder

I'd be buying my rolex, jewelry and expensive items overseas. Our governments powers stop at our borders and cannot force businesses in foreign countries to collect a tax for our government. Sure, you will still be taxed on essentials, but your giving the wealthy a huge tax break on their expensive purchases with that in place.

And, you'd likely be paying higher taxes there via VAT along with import duty. How is this a "tax break for the wealthy" when so many think they already don't pay enough? It's far, far easier to monitor and tax imports than income.

[CJ7]

Originally Posted by LovingKayla

What arounder said.

Someone making 500k a year will still be paying more than someone making 50k a year.


Besides, I hate to break this to you guys but the top 1% have some amazing tax secrets they use. It's all about what and who you know. Go make some friends...

its not how much $ gets paid , but at what % rate they pay ..


http://www.politifact.com/truth-o-me...wer-taxes-oth/

[nwarounder]

Originally Posted by Iaintliein

And, you'd likely be paying higher taxes there via VAT along with import duty. How is this a "tax break for the wealthy" when so many think they already don't pay enough? It's far, far easier to monitor and tax imports than income.

No taxes in many places around the world. Go buy a Rolex and some jewely in St. Thomas and you'll see how cheap and easy it is to not pay taxes.

[Iaintliein]

Originally Posted by nwarounder

No taxes in many places around the world. Go buy a Rolex and some jewely in St. Thomas and you'll see how cheap and easy it is to not pay taxes.

And how much federal sales tax could be levied on the plane ticket to get there? Or as an import duty to ship it here.

No doubt, as you've pointed out, those with enough money can minimize taxes under any system.

What do you recommend instead? A "higher rate" for the wealthy who will, in turn move investments overseas or otherwise take advantage of tax shelters?

A blanket sales tax does far more than leveling the playing field, it takes the ability to customize tax policies in exchange for campaign money out of the hands of politicians.

[nwarounder]

Originally Posted by Iaintliein

And how much federal sales tax could be levied on the plane ticket to get there? Or as an import duty to ship it here.

No doubt, as you've pointed out, those with enough money can minimize taxes under any system.

What do you recommend instead? A "higher rate" for the wealthy who will, in turn move investments overseas or otherwise take advantage of tax shelters?

A blanket sales tax does far more than leveling the playing field, it takes the ability to customize tax policies in exchange for campaign money out of the hands of politicians.

First post is my opinion. I'm not saying it is bad in theory, and it is probably better than what we have now, only that the wealthy would benefit from it also. Then what would we do when Canada or any other country passed a law eliminating sales tax to American purchases, only to stimulate their own economy? FedEx is not going to collect taxes at our doorsteps.

[CJ7]

Originally Posted by nwarounder

No taxes in many places around the world. Go buy a Rolex and some jewely in St. Thomas and you'll see how cheap and easy it is to not pay taxes.

and how are the roads and cops in St Thomas?

does the high 5 stack up during rush hour?