'Taxing the Rich'

[JBeukema]

The adjusted gross income of the wealthiest 400 taxpayers jumped 277 percent in real terms between 1992 and 2008, nearly four times the increase for everyone else. Over that same period, the effective tax rate on the richest 400 taxpayers (note: not necessarily the same people year-to-year) fell from 30 percent in 1995 to the 18 percent rate in 2008

http://taxvox.taxpolicycenter.org/2011/05/12/the-very-rich-really-are-different/

 

[NoEconomist]

The adjusted gross income of the wealthiest 400 taxpayers jumped 277 percent in real terms between 1992 and 2008, nearly four times the increase for everyone else. Over that same period, the effective tax rate on the richest 400 taxpayers (note: not necessarily the same people year-to-year) fell from 30 percent in 1995 to the 18 percent rate in 2008

TaxVox » Blog Archive » The Very Rich Really Are Different

Here we go...

 

[auditor0007]

The adjusted gross income of the wealthiest 400 taxpayers jumped 277 percent in real terms between 1992 and 2008, nearly four times the increase for everyone else. Over that same period, the effective tax rate on the richest 400 taxpayers (note: not necessarily the same people year-to-year) fell from 30 percent in 1995 to the 18 percent rate in 2008

TaxVox » Blog Archive » The Very Rich Really Are Different

But, but, buttt they worked harder to earn that money, so they should get to keep more of it.

 

[Old Rocks]

LOL. Well surely they did. Ol' Madoff and his cronies just sweated themselves on how to cheat more people. Those CEO's that engineered the crash of 2008 worked so very hard for their hundreds of millions, while the lazy people in the factories deserved to lose their jobs, health care, and homes.

Yeah, that is sure the GOP mantra.

 

[Mr.Nick]

Whats so wrong with being successful??

Besides, creating wealth is not a bad thing.

IMO, in modern times the government is guilty of racketeering.

 

[Old Rocks]

Nothing wrong in creating wealth. The people, the CEOs of the companies that created the crash of 2008 did not create wealth for anybody other than themselves. For everybody else, they created poverty. Yet you defend them from having to pay their fair share of the tax burden.

 

[elvis]

LOL. Well surely they did. Ol' Madoff and his cronies just sweated themselves on how to cheat more people. Those CEO's that engineered the crash of 2008 worked so very hard for their hundreds of millions, while the lazy people in the factories deserved to lose their jobs, health care, and homes.

Yeah, that is sure the GOP mantra.

You mean GOPers like Lawrence Summers, Chris Dodd, and Bill Clinton?

 

[boedicca]

The adjusted gross income of the wealthiest 400 taxpayers jumped 277 percent in real terms between 1992 and 2008, nearly four times the increase for everyone else. Over that same period, the effective tax rate on the richest 400 taxpayers (note: not necessarily the same people year-to-year) fell from 30 percent in 1995 to the 18 percent rate in 2008

TaxVox » Blog Archive » The Very Rich Really Are Different

The underlying assumption that a high tax rate would have resulted in the same 277% increase income as did the lower tax rate is specious. High tax rates discourage risk taking. So, if your objective is to make the Wealthy Less Wealthy, then by all means, increase taxes, slow down economic growth, and destroy the environment for job creation which was spurred in the actual scenario.

 

[auditor0007]

Whats so wrong with being successful??

Besides, creating wealth is not a bad thing.

IMO, in modern times the government is guilty of racketeering.

Not a thing wrong with being successful or with creating wealth. The issue is that when you add in all federal taxes, those uber wealthy are paying a much lower tax rate then the middle class. Something is seriously wrong with that, don't you think? Or do you support the idea of the more you make, the lower your tax rate should be?

 

[Midnight Marauder]

Why Ay Doubleyou In.

 

[boedicca]

Whats so wrong with being successful??

Besides, creating wealth is not a bad thing.

IMO, in modern times the government is guilty of racketeering.

Not a thing wrong with being successful or with creating wealth. The issue is that when you add in all federal taxes, those uber wealthy are paying a much lower tax rate then the middle class. Something is seriously wrong with that, don't you think? Or do you support the idea of the more you make, the lower your tax rate should be?

How about we lower the tax rate for the middle class instead? The total tax burden on a typical middle class family has more than doubled since the 1950s.

Whenever politicians talk about raising taxes on The Rich, it's a prelude for increasing them on the broad middle class....because that is where the money is.

 

[Mustang]

The adjusted gross income of the wealthiest 400 taxpayers jumped 277 percent in real terms between 1992 and 2008, nearly four times the increase for everyone else. Over that same period, the effective tax rate on the richest 400 taxpayers (note: not necessarily the same people year-to-year) fell from 30 percent in 1995 to the 18 percent rate in 2008

TaxVox » Blog Archive » The Very Rich Really Are Different

They can't catch a break, can they?

Someone had better pass the hat around for them.

 

[NoEconomist]

I would comment...but I'm not an Economist.

 

[Midnight Marauder]

Whenever politicians talk about raising taxes on The Rich, it's a prelude for increasing them on the broad middle class....because that is where the money is.

And not just that, my sweet..... It's a prelude for going after accumulated wealth next, not just income.

 

[daveman]

LOL. Well surely they did. Ol' Madoff and his cronies just sweated themselves on how to cheat more people. Those CEO's that engineered the crash of 2008 worked so very hard for their hundreds of millions, while the lazy people in the factories deserved to lose their jobs, health care, and homes.

Yeah, that is sure the GOP mantra.

You mean GOPers like Lawrence Summers, Chris Dodd, and Bill Clinton?

Rich liberals got that way from hard work, determination, skill, and the kindness and grace of a beneficient Gaea. Rich conservatives got that way from lying, cheating, stealing, and whipping poor children in sweatshops.

 

[daveman]

'Taxing the Rich'

What is Democrats' answer to every single problem in the world, Alex?

 

[JBeukema]

How about you stop being retards and we go back to what worked before?

Get rid of redundant bureaucracy, return to the pre-Carter marginal tax rates and close tax loopholes, stop subsidizing big business, and end capitalist free trade (eg: NAFTA, CAFTA) and return to the social democracy under which America once thrived.

 

[Midnight Marauder]

the social democracy

 

[daveman]

How about you stop being retards and we go back to what worked before?

Get rid of redundant bureaucracy, return to the pre-Carter marginal tax rates and close tax loopholes, stop subsidizing big business, and end capitalist free trade (eg: NAFTA, CAFTA) and return to the social democracy under which America once thrived.

And unicorns will once more roam the meadows.

 

[Mr.Nick]

Whats so wrong with being successful??

Besides, creating wealth is not a bad thing.

IMO, in modern times the government is guilty of racketeering.

Not a thing wrong with being successful or with creating wealth. The issue is that when you add in all federal taxes, those uber wealthy are paying a much lower tax rate then the middle class. Something is seriously wrong with that, don't you think? Or do you support the idea of the more you make, the lower your tax rate should be?

Whats 10% of $50,000? $5,000

Whats 5% of $5,000,000? $250,000

Who pays more in taxes?

Who provides the jobs?

Do you like the private sector economy???

Also, do people not realize that businesses take losses?? how do you tax a loss??

There are numerous reasons why the "rich" have a different tax bracket.

Now, as individuals they pay out the ass. They have a lot of stuff because they're rich and they pay taxes on the stuff you don't have...