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originally posted by: ScepticScot
a reply to: STTesc
About 1.5% of the US population are millionaires. About 0.00015% are billionaires. This in the richest country in the world. The majority of the millionaires are in this category based on property value, they certainly do not have a million in the bank. So you really think it is as simple as handling your money properly?
originally posted by: jjkenobi
More taxes on the rich and on corporations is simply not a workable solution. USA corporate taxes are already so high companies have been/are fleeing the US (Tax Inversions). Raising the taxes even higher will simply make the problem worse. Make the USA the country companies want to come to. Not the country they want to flee because of the highest taxes in the world. Taxing the rich even more sounds great but the rich can leave and go anywhere. And they are. Look at states with high income taxes and the rate of millionaires who leave. We need more creative solutions that the same old tax the rich, they won't go hungry crap.
This past year the govt took in more money in taxes than ever in history. Yet it STILL WASN'T ENOUGH. There is a spending problem, not a taxing problem. 3 Trillion Dollars in 2014, highest ever
- CUT SPENDING
- Reform the tax system
- Cut out loopholes
We always hear that social security might run out of money.
We always hear defense spending is being cut. Which it is, to historical low pre-WW2 levels.
We never hear that welfare/food stamps might run out of money. Why is that??