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originally posted by: AlaskanDad
a reply to: OccamsRazor04
Better work on your code, most of your quote is missing.
You should read what Xtrozero wrote do a little math, he is talking about taxing the one percent a 100%. If not his 650 million is wrong.
A little fact checking shows:
Federal Income Tax Data, 2011
1,042,571 Income Taxes Paid ($ millions)
Do you know that if we taxed everyone 100% over 1 million that would only generate 650 billion, or about 1/3 the deficit for the year.
In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.
This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election.
Nearly a quarter of Britons worth £1million or more are considering leaving the country in the next two years, a survey by Lloyds TSB International found.
Nearly two thirds said the British climate was the main reason why they wished to emigrate, whilst only 41 per cent mentioned taxes.
George Osborne, the Chancellor, announced in the Budget earlier this year that the 50p top rate will be reduced to 45p from next April.
Since the announcement, the number of people declaring annual incomes of more than £1 million has risen to 10,000.
originally posted by: RP2SticksOfDynamite
a reply to: OccamsRazor04
The debt would need to be resolved I agree. How well, leave that to the experts. maybe a combination of write off and pay off, by whatever means.
originally posted by: Cuervo
a reply to: AlaskanDad
The damage super rich folks cause isn't because they have a lot of money, it's because they don't spend that money in ways that contribute to our domestic economy. A poor person will not hoard, will not invest in harmful ventures, nor will that person squeeze out small businesses with unethical monopolies. A poor person throws nearly everything right back into the economy.
We've seen what the super rich do with their money. It's essentially allowing money to be taken off the table so we have to keep printing off more and damaging our own economy. Consolidated wealth is not an effective way to create jobs or societal stability. You want jobs? You want stability? You want independence from debt? Rise the lowest denominator up and they will save the nation and create jobs.