Why I think increased taxes on the rich won't work., page 1
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Topic started on 20-10-2011 @ 09:59 AM by canselmi
First off, please don't misunderstand me. I'm not saying there aren't any tax loop holes that need to be fixed. I think most people can agree on that. What I am saying is that increasing the tax rate on the wealthy will not solve our nation's problems. Here's my reasoning:

The total worth of all billionaires in America is $1.3trillion. Source
There are 3.5 million US households that are millionaire households. 90% of those are worth between $1 and $10 million. Source
Most of those households are closer to the $1.5million mark. But let's use $3.5million for this exercise.

3.5million households at $3.5million each equals $12.25trillion. Add to that the $1.3trillion from billionaires, we get $13.55trillion.

The US Debt at the end of Fiscal Year 2010 was $13.56trillion Source
The current debt is $14.9trillion Source

That means if we rounded up all the millionaires and billionaires in the US, took all their money and sold off every last thing they own, we would still owe $1.4trillion. And at the rate we're going, we'd be back up to $14trillion in less than a decade.

My point is that it's not a problem of money coming in, it's a problem of money going out.

The Democrats aren't repsonsible. The Republicans aren't responsible. The fault is with the out of control federal government. It seems like every issue in the news makes you choose to fight on the red side or the blue side, but that's just to keep us distracted.

Sometimes I just want to scream to the citizens and the government "THE SHIP IS SINKING! We're too busy arguing over whether or not the wealthy should have to pay more for their tickets. Meanwhile, THE SHIP IS STILL SINKING! But we're too busy arguing if we should convert the gasoline engines to electric engines. Or if we should allow anyone who wants to, to come on board. If we don't fix the hole soon, none of it will matter."


reply posted on 20-10-2011 @ 10:42 AM by RealAmericanPatriot
I still think a flat tax is the ONLY thing that will fix our nation.

THE WHOLE POINT of flat tax is to get rid of all the loopholes and writeoffs. No more standard deduction, no more earned income credit, no more fancy write-offs and loopholes for the rich...

A person would have ONLY 12% of his income withheld...period...and that means more spendable money in the pockets of the minimum wage guy, whether he is married or not. Flat tax means most of the political crookedness in this country gets wiped out and TRUE government transparency happens AND the PEOPLE control the government spending at the polls!

And the government would be WAY AHEAD because of reduced government spending STARTING with the disolution of the IRS!

Show me ONE minimum wage earner who wouldn't like to be taking home $6.60/hr out of the $7.50/hr that he earns INSTEAD of the measly $4.87/hr he takes home now! A person needs money in his pocket to live. A low wage earner that gets into debt trouble often NEVER SEES his tax return because A) he has to cheat to survive and thus never files or B) some big business lender swoops in through the courts to take the tax return to cover debt and a bunch of ridiculous fees they assessed.

I hope this helps a few of you to understand the TRUTH about flat tax. So many people say the rich don't pay ANY taxes. Well, if that's the case, then a flat tax would nail their butts to the wall!

Flat tax gives the power BACK to the people!


reply posted on 20-10-2011 @ 11:01 AM by nh_ee
reply to post by canselmi


It would bring some degree of fairness to the system....even though taxes never were intended to pay down the debt.

They were only intended to pay down the interest..to the debt holders.

The OWS isn't so much about the Wealthy being wealthier than the 99% but the inequalities inherant to the system that allow them to.pay a disproportionate amount in taxes relative to their income.

AND that the system actually allows them to get away with it.

The 1% don't pay as much in taxes because they can pay professionals to advise them in how to get around them....

If you or I stop paying our taxes...we are considered criminals and will go to prison.





reply posted on 20-10-2011 @ 11:01 AM by canselmi
reply to post by xxcalbier


You're just proving my point. The private citizens will find a way to make a profit and be back on their feet in a few years. Yet in that same time, the goverment will be back to owing trillions of dollars yet again.


reply posted on 20-10-2011 @ 11:10 AM by canselmi
Originally posted by nh_ee
reply to post by canselmi


AND that the system actually allows them to get away with it.






And here is the problem in a nutshell, in my opinion.
Instead of OWS, it should be Occupy Capital Hill


reply posted on 20-10-2011 @ 11:14 AM by NorthStreet1
reply to post by canselmi


Ahhhhhhh BUT that would be against the "silent" organizers agenda. See the poll that said 48% of the OWS protestors would re-elect Obama ? That just tells you they will be no where near Washington because everything is fine there. Obama has said recently that his administration has made all the right choices - this must include all his Campaign lies.

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