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Re: The Tax Fakeout

So you want higher taxes on the rich huh?

I have bad news for you.

Even if we were to tax the rich (aka anyone making $250,000 a year or more) at 100%, and if they all had magical money trees that made exactly the same money for them year after year, and even if they all had bombs implanted in their chests that detected if they kept a single penny...

You could never make up the Deficit in spending.


For you who don't understand:


We are spending far more than the rich earn and there is no way taxing them at any level will help.

Everything bad in the economy is now Obama's fault. Every job lost, all the debt, all the lost retirement funds. All Obama. Are you happy now? We all get to blame Obama!
Kemp currently not being responded to until he makes CONCISE posts.
Avogardo and Noir ignored by me for life so people know why I do not respond to them. (Informational)

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  • Posts: 6,734
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Re: The Tax Fakeout

Taxing them at 100% would solve the problem.

On paper anyway. tongue

Modestus Experitus

Arby: A very strict mod, reminds me of a fat redneck who drives a truck around all day with a beer in one hand. I hated this guy at the start, however, I played a round in PW with him where he went as an anonymous player. Our fam got smashed up and everyone pretty much left. Arby stayed around and helped out the remaining family. At the end of the round he revealed himself.... My views on him have changed since. Your a good guy.....

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3 Reply by Justinian I (edited by Justinian I 14-Aug-2012 04:15:19)

  • Posts: 3,373

Re: The Tax Fakeout

Those making $250,000 are not rich, they are upper middle class. The highest marginal rate that should apply to them shouldn't be more than 20% by my estimation. But we should add more tax brackets with the top marginal rate being 55%, which would apply to incomes of ~$10million or more.

I also favor eliminating most deductions and eliminating corporate taxes, estate taxes, inheritance taxes, and capital gains etc.

We also need to drastically cut spending.

Also, it's outrageous that the professional, upper middle class pays the top marginal income tax rate.

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