don't they pay a higher percentage then a regular person? would you like to pay what they pay for*dollar for dollar*?
No they don't. Most of them have a few prostitute/senator (s) in their pockets introducing crooked bills that allows them to bypass or pay a tiny tax percentage.
don't they pay a higher percentage then a regular person? would you like to pay what they pay for*dollar for dollar*?
The richest people and corporations in America pay the vast majority of the taxes collected. However, compared to their actual income they tend to pay a lower percentage than even the average lower middle class family. Officially they're supposed to pay more, but they can afford tax lawyers that use loop holes to minimize how much they pay. They also have lobbyists paying politicians millions every year to change the laws in order to reduce how much they have to pay. And if worst comes to worst they pull a Microsoft and threaten to move their company to a different country if the government doesn't stop bugging them about unpaid taxes.
If you're opinion of people is based on a collegehumor video you need to get out more. Otherwise why not judge all Americans by Weird Al's First World Problems parody. It's not inherently a bad thing to work to keep the wealth they earned. What's important is whether or not they actually deserve to be rich. The bank CEOs who helped destroy the global economy should not have walked away with golden parachutes worth hundreds of millions of dollars. When Tony Hayward screwed up so badly over here with the Gulf oil spill he didn't lose his job, he switched places with the head of BP's eastern branch in Russia who was just as hated there as Hayward was here. In another ten years they'll probably both screw up again and switch places again giving Hayward back to us. And politicians are the worst. The lowest paid members of Congress make more than most 2 income households and yet they still all fight to have their own pay raised while at the same time abandoning their jobs in order to line their pockets with lobbyist bribe money. These people did nothing to earn their money and have even destroyed hundreds of millions of lives in their pursuit of greed yet still they're handed more money as a bonus than most will ever see in a lifetime.
don't they pay a higher percentage then a regular person?
For those with wages or winnings, yes. But passive income from investments is taxed differently, at a much lower rate. This is to encourage people to invest in companies.
The bank CEOs who helped destroy the global economy should not have walked away with golden parachutes worth hundreds of millions of dollars.
If you're referring to the subprime mortgage crisis, a big part of it was the HUD [Department of Housing and Urban Development] under the Clinton Administration lowering the standards for receiving loans. It was intended to allow more minorities and impoverished people, or people with bad credit, to get homes. The CRA [Community Reinvestment Act] was also heavily modified, encouraging banks to give out more home loans and to be much more flexible with who they approved. It fell apart when the people couldn't pay. As for the bailouts, caveat emptor. They should've been allowed to sink.That’s what the free market is all about: up’s and down’s stabilizing and creating sustainability; finding out what works and what doesn’t in order to learn from those mistakes. People need to learn that company, systemic, and market failures are not themselves failures of the free market, but applications of it. These things must happen, need to happen, and will happen. Trying to stop them from going one way or the other tends to exacerbate the problem, as shown in the Bear Stearns bailout backfire. Pardon my French, but a game of “pass the s***” leaves some on everyone’s hands. When the government bails out indebted companies, they’re passing it on to every taxpayer, moving water from one end of the Titanic to the other without fixing the holes. It needs to end. The economy is as a phoenix: let the entire house of cards blow over so something more resilient can emerge. That is the essence of the free market.
you dont need to be a ******* to get rich tho. if you have no real profession atm yet. i would hint to get into affiliate-marketing and get your own passive income rolling. loads of companies are investing in this field. the only investment you have to make is a computer with i-net and your free time.
If the rich and corporations pay their taxes in full, there should be no problems. However, a lot of US companies operating in the UK are diverting all their income to tax havens, and HM revenue and customs can't plug the lopholes fast enough.
