As you all know there will be a new American President sworn in, in a couple of weeks. If I have this right..I think that Obama wants to add more taxes on the rich and make them pay more and give more to the poor.I just wanted to know how people felt about that. I think its rather unfair to tax the rich, because most rich people make jobs and are employers so if you tax them more wouldn't they cut jobs? Also why punish people for being rich, isn't that the dream to be able to live without financial woes? Also who do you think should be taxed? The rich, the poor, or how about a flat tax where everyone pays the same thing?
Discussion points: 1.Should the government tax the rich more? 2. Tax the poor, or tax the rich, or the flat tax?
@ Gladitator What do you feel about the flat tax? or do you think the rich should be taxed more or the poor should be taxed more..or whatever you think.
I prefer progressive taxation. Taxing you depending on the level of your income in steps. Basically the rich more, the poor less and redistributing the wealth throughout. I like the Robin Hood style.
I prefer progressive taxation. Taxing you depending on the level of your income in steps. Basically the rich more, the poor less and redistributing the wealth throughout. I like the Robin Hood style.
Flat tax, I like the idea of. Why punish the rich for being rich? Should we all just be poor and pay nothing?
They are taxed to help the poor, many of whom help them stay rich by doing the menial jobs no one else wants. To pay nothing in tax you have to earn under £6700 a year, at least in the UK, which is frankly nothing. I would rather earn my 35k and be taxed 30% thank you very much.
@ Gladitator What do you feel about the flat tax? or do you think the rich should be taxed more or the poor should be taxed more..or whatever you think.
I like it but I dont think the rich would react so nicely to it and the poor would pretty much love it!
Flat tax doesn't work. What percentage are you going to tax? If you make less than $32k you're paying 0-15% right now in federal tax. If you make more than $370k you're paying 35% tax. What percentage do you think is "fair". Personally, I think it blows that more than 1/3 of a families income can be "stolen" by the government. That's 33 cents on every dollar people, no including any state taxes.
We need a better distribution of taxation, with sample size of each bracket taken into consideration, and not just arbitrary lines drawn dictating the progression of taxes. Right now the top 1% is paying more than 22% of the taxes, while the lowest 50% is only contributing 12.5% of the taxes. Can you say restructure, PLEASE!
I believe the lowest 60% doesn't even pay income taxes, and the bottom 20% pay almost none. Correct me if I'm wrong.
I can almost bet you that you're wrong on this one. If the income of the lower 50% is LESS than $32k per year, that means they are paying at the most 15% tax. Sure, if you make less than $8.5k you won't pay anything, but above that, you'll start incurring federal tax.
It's possible though that the bottom 20% pays almost nothing.
Well, nobody can complain. Here in Los Angeles, we have the highest gas tax in the country, the highest income tax in the country, the highest business taxes in the country, and our sales tax is 8.75%.
And the California government is still tens of billions of dollars in debt. And the greedy SOB's in Sacramento are asking for more money.
