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"According to Fareed Zakaria, letting the Bush tax cuts expire at the end of this year would reduce the deficit by 30%."
"With the George Bush tax cuts about expire, the issue of what tax rate the upper class should pay has been on a lot of peoples' minds. The current issue of BusinessWeek looks at the widsom and folly of the Bush cuts. For a while it looked certain that tax breaks put in place for couples earning $250,000 or more under Bush would disappear. The Obama administration has said that it is for extending the tax cuts for those making less than that. But lately, more and more lawmakers are saying that even the richest Americans should get their tax breaks too.
That's why I found James Surowiecki's column in this week's New Yorker timely and interesting. Surowiecki proposes not just reinstituting pre-Bush era tax rates on the rich, but going a step further and creating a super tax bracket for those making the mega buck$. Say 50% for those making $10 million or more. At a time when Washington and voters, if not the market, are growing increasingly worried about the deficit, I think the idea of a super tax rate for the super rich makes a lot of sense. Here's why:......http://curiouscapitalist.blogs.time.com/2010/08/10/time-for-super-taxes-for-the-super-rich/
And who decides what their fair share is?
And who decides what their fair share is?
"Between 2002 and 2007, for instance, the bottom ninety-nine per cent of incomes grew 1.3 per cent a year in real termswhile the incomes of the top one per cent grew 10 per cent a year. That one per cent accounted for two-thirds of all income growth in those years."
another dummy who doesnt understand the Laffer Curve..............
"I decided to ask some tax experts and political activists where, in the current personal income tax, and particularly in the top tax bracket, they think that Laffer curve peaks -- that is, what that revenue-maximizing rate is. The responses were varied, to say the least. Let's start with the experts."
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Bruce Bartlett, columnist, Forbes.com; former adviser to Reagan and Bush I:
"I would hate to venture a specific number.... I would, however, say that I think the top rate could be quite a bit higher than it is without significantly impairing incentives or leading to excessive amounts of tax avoidance. I think 50 percent is an important threshold and I would be very reluctant to go higher even if it raised net revenue...."
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Republican Politicians
Senate Minority Leader Mitch McConnell (R-KY):
His office declined to answer.
*
Sen. Jim DeMint (R-SC):
His office declined to answer.
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Rep. Mike Pence (R-IN):
His office declined to answer.
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Rep. Thaddeus McCotter (R-MI):
His office declined to answer.
And who decides what their fair share is?
And who decides what their fair share is?
The people of this country get to decide.
You see we are a democracy and when these assholes Fuck us all to up their bottom line and in doing crash the economy we can take back what they took through slimey means (republican butt licking) we vote and take their power away.
I dont care if the assholes leave this country because of it, I have faith in the rest of the American people to fill their jobs and do them better.
I dont consider these Americans irreplaceable if they chose to move out of the country because they cant make 400% profit anymore.
I know alot of Americans who would be just fine with a mere 100% profit.
And who decides what their fair share is?
Hey assholes what was the tax burden on these people during Reagans term?
And who decides what their fair share is?
The people of this country get to decide.
You see we are a democracy and when these assholes Fuck us all to up their bottom line and in doing crash the economy we can take back what they took through slimey means (republican butt licking) we vote and take their power away.
I dont care if the assholes leave this country because of it, I have faith in the rest of the American people to fill their jobs and do them better.
I dont consider these Americans irreplaceable......
The problem is the definition of fair. People like truth and the OP don't know what that is. Fair to them is the more you make the more you pay in taxes. I still don't understand how that fits any defintion of fair. How does being more succesfull somehow obligate one to shoulder more of the tax of burden?
You idiot fucking troll...
What you and your ilk propose has nothing to do with fairness.. it has everything to do with someone else paying your share for you because.....blah.....blah.....blah.....blah....
And who decides what their fair share is?
Seems like the pro-tax crowd's fair share hovers around $0.
