Is it right to raise taxes on the Wealthy ?

Post Reply New Topic

The poor pay more for it in blood I don't see way the rich can't pay more in treasure.

I think we need to define something before we continue this debate. What is wealthy? Are we talking about some one making a million or more a year: $500,000 a year, $250,000 a year? We need to define that before we can really debate this.

If the wealth and assets of everyone whose net worth exceeded one million dollars a year were confiscated and re-distributed it would not make a dent in paying down the deficit and debt. All it would do is create more poor people and it would not add a single job or factory to the economy. Redistribution is a false and foolish doctrine. The way to go is reduce all but absolutely necessary spending (we must maintain the infrastructure and we do need police and fire departments). The main cause of our economic distress is foolish and short-sighted government policy. Has government cured poverty with all its alphabet soup programs? It has not. Has it addressed the deficiencies of our education system? It has not. Has it improved the long term prospects for our worst off people. Barely and not much. The miserable are still miserable and have not really been helped in a long term manner.

Taxing the Rich is just a way of flogging the scapegoat and taking revenge. It does not cure the problem. And putting the government in charge of our economy will destroy this nations, as sure as the sun rises in the morning. We are governed by incompetents, fools, jack-asses and knaves.

ruveyn

Sounds good to me.

It will not solve a single problem we have. Furthermore discouraging productive people from producing the goods and services we need will only make our problems worse.

Revenge is poor public policy.

When everyone is made equally miserable and squalid we will become another rural India or rural China. We will sleep on straw and we will wake up in the morning covered with sh*t.

ruveyn

So? At least we'll have exacted revenge.

'Cuz everybody knows wall st. is really run by robot zombies.

The problem is how the IRS looks at you.

If you are a sole proprietor where your business income is reported on your 1040 via a Schedule C, the IRS might choose to look at you based on your GROSS income (even if you're going to have a lot of expenses come out of it).

If you elect to be a corporation or an LLC that elects to be taxed as a corporation, your business income can never be factored as your own income until you get a check from the business. Keeps the financial affairs strictly divided.

As I understand it, the way the "tax the rich" mentality hurts a lot of people is that the number is set too low. If the IRS sees your "gross income" as a dividing line for new tax requirements, you get hurt. More so, people in high cost-of-living areas would get hit with new tax requirements even though, after living expenses, they really don't keep that much money.

Better we all die, than some should live? Is that what you aim for?

Why not try to be one of the ones that live?

ruveyn

The sun dries without prejudice the garments of the rich and the poor.

ruveyn

the top 1% is not a horrible place to put the line.
I think we should divide the low beta rich (job producers) from the high beta rich, market gamblers and parasites that
reduce jobs.

Spending cuts tend to entail cutting government programs many people are dependent on. I'd rather see an end to the Bush tax cuts.

-Bill, otherwise known as Kraichgauer

No, Wall Street is where they turn ordinary people into "robot zombies."

-Bill, otherwise known as Kraichgauer

Dope peddlers give away some of their product for free in order to "hook" new customers. So you would favor keeping the dope peddlers in business because so many are dependent on them?

The government hooked its victims and you wish to preserve that relation?

ruveyn

I would hardly consider providing food and shelter to people in need to the the equivalent to dope pushers.
Is it better to just let those people die?

-Bill, otherwise known as Kraichgauer

It would be better if acts of charity were not compelled at gun point. What do you think Law is. It is
enFORCEd. Without guns and jails it would not be obeyed. So you think the hungry of the world should be fed by making slaves of those who can produce and distribute food?

ruveyn