First time poster,
Just some info to consider. I have been bothered recently by the terms "people who like stuff" and "progressive tax rates" and I wanted to look
further into this. After listening to 4 millionaires proclaim entrepreneurship and slide into political debate over redistribution of wealth and
moochers, I started my search. Ironically none of these millionaires were self made. They all inherited their wealth and proclaimed
entrepreneurship, yes they are a good businessmen but their ancestors were the entrepreneurs. What i discovered was interesting, at least to me, so
ill share it with you all.
The first thing I looked into was progressive rates and I stumbled upon this thread of a 100 year tax research chart:
As you can see after reviewing the charts we are actually on a 100 year regressive tax rate(favor the wealthy) that continues today.
Then I looked into "people that like stuff" and I discovered this thread of social welfare vs corporate welfare:
many complain about the lowlifes that only mooch and want more things such as healthcare, food stamps for the jobs they've lost ect. As it turns
out, the ones that like stuff are the very some ones that complain about those people. social welfare accounts for 59bil a year, however foreign aid
accounts for 50bil, and corporate welfare/subsidies account for a huge 92bil per year. Not to mention all the bail outs to financial institutions
under the conditions of start lending again....yea, ok.
What does this mean? Well the top 1% of companies(fortune 500) get subsidies from the government e.g. Us the tax payers. So while the are making
record breaking profits during the deepest part of our recession, and the CEO's collect unimaginable bonuses, they still collect your money as a
subsidy. In addition they still take advantage of reductions and loopholes and pay virtually no tax. What gets me even more, they resell your own
tax dollars back to you in the form of a product, that is then additionally taxed and recycled into the system.
So what happens, when you demand the basic rights such as affordable healthcare(stuff) as a hard working loyal citizen? Or maybe unemployment because
your job was just moved overseas with no warning? They fire you and ship your jobs offshore, because india and china both have emerging middle classes
that work for less and buy their products. So they DONT need you any more. You have already paid their way and they will not thank you by giving
back. Extortion comes to mind.
So we need to stop regurgitating what these pundants and talk show host spit out, they are there for entertainment, ratings and money. Most are no
more qualified or educated in economics or politics than you are...just more experienced regurgitating it. Do the research yourself.
As far as tax rates...if they were fair we would have flat taxes for a start and access to the same deductions. If I make 1000$ and pay 10% tax I pay
in 100$, If you make 100$ and pay 10% tax you pay in 10$. Wait! That's not fair I pay more! Well no, I pay my fair share as you do. Instead we
developed a system where I pay 5% which equals 50$ and Im still not happy because I still pay more, but Its more fair? I don't get it.
I do not believe in touching capital gains much....that is the driving force of the economy. And I believe we need to adapt to globalization with a
sliding tax code to encourage American employment. If 100% of your employees are American for an American company you get the greatest tax
break...and slide the scale down. If 90% is American and 10 foreign you pay a higher scale, 10% American 90% foreign you pay the highest rate of tax.