In my view it is wrong to raise taxes on the Wealthy.

In my view it is wrong to raise taxes on the Wealthy not only because it is their money or wealth but also because most Wealthy people worked their
way up the economic ladder most big businesses started out small and most Wealthy people at some point they had to have a family member a generation back
or so who was poor or middle class. America should be a nation where it is possible to go from rags to riches in a generation. My great grandfather
was by no means upper class but he got a loan from a bank in the 1930's to start a business and now his son my grandfather is upper middle class.
Does anyone agree that taxing the Wealthy too much is bad for this reason ? Also don't forget that the Wealthy create Jobs and for their and make their Workers Richer.
It is a part of the American Dream to want to become Wealthy. I for one used to be a Liberal Democrat I was for Class Warfare. I think the fact that Workers can get a salary increase means that we can all get richer.

Tax Cuts and Class Wars

by Rep. Ron Paul, MD

President Bush unveiled a very modest tax cut plan last week that calls for the elimination of double taxation on dividends. Democrats immediately attacked the plan using class warfare tactics, clamoring that only the rich will benefit from a dividends tax reduction. This tired argument ignores the millions of middle class American investors who receive dividend checks and presumably don't consider themselves wealthy. It also ignores the stimulative effect that any form of tax cut has on the economy. When dividends are taxed only once, as corporate income, investment is encouraged and shareholder demand for dividends increases. This in turn encourages companies to increase profits, because it's hard to pay dividends if you're not making any money. But these arguments require some analysis, and the left would rather appeal to base emotions and attempt to paint the wealthy as sinister tax dodgers.

As with so many things in politics, the truth is exactly opposite. The so-called rich pay almost all of the income taxes in this country. In fact, the top 1% highest-earning Americans pay a whopping 37% of all individual income taxes collected. The top 10% pay 67%. In other words, 10% of Americans pay two-thirds of the taxes. Half of all taxpayers — those in the bottom 50% of earnings — account for less than 4% of income tax revenues. This means no matter how taxes are cut, it's nearly impossible for those cuts to primarily benefit lower-earning taxpayers. Tax cuts necessarily benefit those who pay the overwhelming bulk of the taxes. This simple truth allows the left to attack each and every tax cut proposal on the grounds that it disproportionately benefits the rich.

Yet we have exactly the kind of steeply progressive tax system championed by Karl Marx. One might expect the left to be happy with such an arrangement. At its core, however, the collectivist left in this country simply doesn't believe in tax cuts. Deep down, they believe all wealth belongs to the state, which should redistribute it via tax and welfare policies to achieve some mythical “social justice.” When people complain about having thirty to fifty percent of everything they earn devoured by taxes, the collectivists just shrug. They honestly believe it should be more, much more.

The class war tactic highlights what the left does best: divide Americans into groups. Collectivists see all issues of wealth and taxation as a zero-sum game played between competing groups. If one group gets a tax break, other groups must be rallied against it — even if such a cut would ultimately benefit them. Yet the class warriors forget that American wealth is not static, but rather very dynamic. Poor people become rich, and rich people lose all of their money. In fact, at no time in American history have more of the nation's wealthy earned rather than inherited their money. Rich family dynasties are increasingly rare, and are quickly destroyed by unproductive spendthrift generations. So when the left attacks the rich, they're attacking a fluid group that many poor Americans hope to join someday by moving up in life. Upward mobility is possible only in a free-market capitalist system, whereas collectivism dooms the poor to remain exactly where they are.

I'm in favor of cutting everybody's taxes — rich, poor, and otherwise. Whether a tax cut reduces a single mother's payroll taxes by forty dollars a month, or allows a wealthy business owner to save millions in capital gains, the net effect is beneficial. Both either spend, save, or invest the extra dollars, which helps all of us infinitely more than if those dollars were sent to the black hole known as the federal Treasury. The single mother desperately needs those extra dollars, and that's why we should reduce or eliminate her payroll taxes. As for the wealthy business owner and whether he “needs” the extra dollars, I'll simply relate the old adage of the man who said “I've never had my paycheck signed by a poor man.”

January 22, 2003

Dr. Ron Paul is a Republican member of Congress from Texas.

Ron Paul Archives

www.lewrockwell.com...

salary increase

salary increase - the amount a salary is increased; "he got a 3% raise"; "he got a wage hike"

www.thefreedictionary.com...

Question: Under capitalism, what will happen to those who are born without the wealth and opportunities enjoyed by others? Doesn't capitalism make the rich richer and the poor poorer?

Answer: Quite the opposite. Capitalism is the one system that leaves everyone free to rise by his own efforts. The history of capitalism provides countless instances of people who improved their lives through work and ability. There are the millions of immigrants who came to America and worked their way up to the middle class—or higher. One of the great historical examples was Andrew Carnegie, who rose from a penniless sweeper at a steel mill to revolutionize the steel industry and make one of the largest fortunes of his day. It is no coincidence that 19th century America—the most purely capitalist era in the nation's history—brought us the phrase "from rags to riches."

www.capitalismcenter.org...

tl;dr

raising taxes on the wealthy is a good idea .

reply to post by mikejohnson2006

My great grandfather ...

So your grandfather was successful in 1930, and you argue against higher taxes because that would have been harder (or impossible) with higher taxes? You might wanna check the tax rate back then to realize what nonsense this is.

It's not as if people want to tax them to death, but it's not right that they pay only 15% on the majority of income. And yes, investment income is the highest income you have if you're rich. In essence, as a %, they pay less than someone making below $32k per year thanks to bought politicians who rigged the game since Reagan

reply to post by mikejohnson2006
I gave you a S&F because you are right and also very brave.

Be prepared to get slammed by the wealth-distribution crowd along with the "It's okay to steal from the rich" crowd as well as the socialist/progressive/communist crowd.

Raising taxes at any level should be looked upon with disdain.

Government should be looking at ways of cutting spending, not spending more.

reply to post by mikejohnson2006

What a nasty idea. Most wealthy people (multi-millionaires and more) got where they are not by hard work but by market manipulation, cartel forming, leverage of financial power and...wait for it... The Old Boy's Network. Please open your eyes to how the world really works and turn off the MSM. I don't expect you to find much support for your idea but I am often wrong.

The so-called rich pay almost all of the income taxes in this country. In fact, the top 1% highest-earning Americans pay a whopping 37% of all individual income taxes collected.

Yeah, the poor, oppressed rich class is forced to bear all the burdens.







Ron Paul doesn't mention that the reason the rich pay so much tax is because a large portion of total income accrues to them; they accumulate most of the wealth.

It's very simple, they "make" most of the money so they pay more tax.

Your argument would carry weight IF the United States was Capitalistic, however it is not.

Corporatism is the ism of the United States. Which also is defined as Fascism.

In a Capitalistic society if your business fails, it fails, Period. No bailouts, No free public money, you are just out of business, plain and simple.

This is not what we witness in the United States. What we witness in the United States is a favored Corporation status, where in if your Corporation is favored it matters not how you conduct business, the Government will and have come to the aid and has used public funds to ensure that the favored Corporation survives.

Should the wealthy pay more taxes,,, NO.

No individual should pay any federal tax on their income, Period.

The founders set up an excellent method to raise revenue for the Federal Government, tariffs and fees.

If our leaders loved this nation and wanted it to remain a beacon of freedom to the World, we would be imposing tariffs on all imports to the extent of making their cost slightly higher than what National production cost.

We would not be in debt to China from an export/import imbalance, our jobs would not have left our shores to slave labor countries and unemployment would be single digits.

This exact thread was posted a couple weeks back. What's up with that?

In my opinion it is not the solution to raise taxes on the wealthy either. Tax money is reallocted by congress and right now congress is controlled by the highest bidders. What good did the bailout do to the working poor for example? Raising taxes on the upper 20% or so, so the top 0,5% has a bigger pool of tax money to distribuite between themselves, by the means of a bought off congress, wont do anything to help the people who are in a dire financial sitution. It will just benefit those who can exercise control over the alloction of tax money.

We need measures to help reduce the income gap. Inflation is generated primarily through the increase of wealth in the upper echelons of society, not because of rising wages. Quite the opposite, people on a fixed income are crushed by an inflation from the top, that dimnisces their income year after year. We need measures to make sure inflation is driven to a lesser extent by the financial prosperity of the very wealthy and by a bigger extent through a rising income across the board. A minimum wage that is annually adjusted for inflation would be a good start.

How many times are you going create this thread? You posted the same thing a week ago.
With the same title.

The top elite and wealthy own our government, so they should be paying 100% of the Tax.
You own it, you pay for it. They should take some responsibility in paying for it all since they want to buy all the politicians.

Don't like it? Then get money out of politics so everyone can be represented equally, rather than the ones with the money in their wallets.

As it is now, they want to continue their empire building and have everyone else pay for it.

reply to post by brokedown


Looking at the overall picture of business here in the states I believe that it is a mixture of both Capitalistic & Corporatism. Businesses fail here all the time while others succeed.

The problem in my mind lies in all the tax loopholes that people take advantage of. The average person would be a lot better off if they could take advantage of those loopholes.

I still have a problem with the death tax being reinstated. Taxed throughout life and again upon death. People should not be penalized for working hard to bring about better circumstnces for their heirs.

reply to post by LightSpeedDriver



Wrong on so many levels.

It's OK to be jealous and obviously embarrassed by your own inability to master your financial situation.

Poverty is an excuse, and to accuse those that have done more with their lives then you merely shows your lack of class.

Ideally, Ron Paul wants to eliminate the federal income tax for EVERYONE.

By the way, I support OWS as well, the two movements are not mutually exclusive.

Originally posted by Areyoupeopleinsane
It's OK to be jealous and obviously embarrassed by your own inability to master your financial situation.

Poverty is an excuse, and to accuse those that have done more with their lives then you merely shows your lack of class.

As a financially well off person myself, with many struggling friends and family members, I laugh at you.

Originally posted by TDawgRex
reply to post by brokedown

 

The average person would be a lot better off if they could take advantage of those loopholes.

The average person cant take advantage of the tax loopholes because the average person is just that...average.

They decided to get a JOB and work for someone else instead of taking a RISK and starting their own business.

The tax laws in the country are designed to PROMOTE business...small and large. A one man lemonade stand can take the same deductions as a multinational corporation on many levels.

The whiners and crybaby's on ATS that hate the rich or think they are evil 9 times out of 10 work as an employee and for someone who is rich.

Stop complaining, get some guts and go out and take controll of your financial future and stop working to make someone else rich....

Originally posted by CREAM

Originally posted by Areyoupeopleinsane
It's OK to be jealous and obviously embarrassed by your own inability to master your financial situation.

Poverty is an excuse, and to accuse those that have done more with their lives then you merely shows your lack of class.

As a financially well off person myself, with many struggling friends and family members, I laugh at you.

Confused? I'm financially well off myself in these troubling times.... whats your family members excuses?

Here's an example of why NO one needs to pay "more" in taxes.

On the way to work this morning, I heard a radio news story about how several states are "competing" for federal money that will be "awarded" to fund early education programs.

That sounds AWESOME! Right? The federal government is giving some federal grants to states so they can do more with the education of their young kids! Who would be against THAT?

Well, here's the problem. The federal government TOOK that money through taxes from every taxpayer in America, and is now deciding the "winners" and the "losers". Money from MY state may be going to help young kids in another state.

The federal government is NOT Santa Claus. The elves didn't make the money for them to spread throughout the country as they see fit. WE DID.

We must lower spending, and then we could lower taxes for everyone.

Raising taxes is NOT the solution. If we raise more money for the federal government, they will just continue to spread it around to the "winners and losers" as they see fit.

I don't know WHY every American doesn't get this.

Or maybe the only people who DO get it are the ones who actually PAY federal income taxes.

Jealous and Envious?

I'm doing quite well myself, in-spite of the leeches at the top and crony capitalism we have in this country where they buy politicians because they can't make it on their own. They don't want to take responsibility for themselves because they can't make it without buying politicians to create or dispell policies to benefit them and their cronies.

Were you jealous and envious of Hitler?

The best thing that could happen to the scumbags at the top is to tie them to a tree and pile up all their ill gotten wealth around them and set it afire. I want nothing to do with their money or themselves, but to just quit breathing or get out of this country!!!

Originally posted by Areyoupeopleinsane
reply to post by LightSpeedDriver

 

Wrong on so many levels.

It's OK to be jealous and obviously embarrassed by your own inability to master your financial situation.

Poverty is an excuse, and to accuse those that have done more with their lives then you merely shows your lack of class.

Originally posted by Areyoupeopleinsane
The average person cant take advantage of the tax loopholes because the average person is just that...average.

They decided to get a JOB and work for someone else instead of taking a RISK and starting their own business.

The tax laws in the country are designed to PROMOTE business...small and large. A one man lemonade stand can take the same deductions as a multinational corporation on many levels.

The whiners and crybaby's on ATS that hate the rich or think they are evil 9 times out of 10 work as an employee and for someone who is rich.

Stop complaining, get some guts and go out and take controll of your financial future and stop working to make someone else rich....

Dude, I own my own business, check it out: CashMassacre.com
Look at another website I have: www.killuminati.me...

Think I am lying and these aren't my websites? See where Killuminati.me is hosted... oh
cashmassacre.com...

Yeah, I am a business owner and I support OWS. You know why? Because everyone can't be entrepreneurs and buisness owners, it's fine some people want to work a job. But our economy has been screwed over by a number of factors, bankruptcies and foreclosures are LITERALLY programed into the federal reserve system, not everyone can get ahead in this system, that's just the way it is.

All your doing is spewing elitist non-sense so you don't have to take any responsibility for the core problems in our society which we are all responsible for.