In Favor of Progressive Taxation and a Balance Approach to Budgeting

Flaylo

Handsome Devil
Joined
Feb 10, 2010
Messages
5,858
Reaction score
681
Points
98
Location
In some grass near you
Andrew Fieldhouse: In Favor of Progressive Taxation and a Balance Approach to Budgeting


Looking to millionaires, and to high-income households generally, for more revenues is an appropriate response given recent trends in income and tax policy (see the EPI Issue Brief "The facts support raising revenues from the highest-income households" for a full discussion). At 17.4%, Warren Buffet's average tax rate is equal to the average rate for households with earnings between $50,000 and $75,000 in 2007, indicating that his average rate is less than many of these middle-income households. Average income tax rates typically peak between $1 million and $2 million in adjusted gross income, and then fall as households collect a greater share of income from capital gains and dividends, currently taxed at a 15% rate.

Buffet's call to Washington to "stop coddling the super-rich" could be directly answered by ending the preferential tax treatment of investment income over work income. More than half the benefit of preferential capital gains treatment goes to the top tenth of one percent of households, according to the Tax Policy Center. Reinstating higher tax brackets for millionaires would also help: the income cutoff for the top marginal tax bracket for married joint filers has fallen precipitously from roughly $3 million in the early 1950s (adjusted to current dollars) to $1 million in 1970, to $379,000 today.
 

Si modo

Diamond Member
Joined
Sep 9, 2009
Messages
44,120
Reaction score
7,132
Points
1,830
Location
Fairfax, Virginia
Translation: I read something of HuffPo or ThinkProgress and I am posting it because I defer all my thinking to others.
 

editec

Mr. Forgot-it-All
Joined
Jun 5, 2008
Messages
41,421
Reaction score
5,660
Points
48
Location
Maine
Great idea.

But the time to put in the fire repression system isn't when the house is burning down.
 

Stephanie

Diamond Member
Joined
Jul 11, 2004
Messages
70,230
Reaction score
10,859
Points
2,040
Holy shit, you people buy that and you all DESERVE to have the Guberment CONSFISCATE all that you EARN AND OWN..
 

vagabond

Rookie
Joined
Sep 29, 2011
Messages
13
Reaction score
1
Points
1
Holy shit, you people buy that and you all DESERVE to have the Guberment CONSFISCATE all that you EARN AND OWN..
It's really not quite that black and white. Generally, we as a society sort of like roads, the judicial system, defense and such. Have to pay for that somehow.
 

Stephanie

Diamond Member
Joined
Jul 11, 2004
Messages
70,230
Reaction score
10,859
Points
2,040
Holy shit, you people buy that and you all DESERVE to have the Guberment CONSFISCATE all that you EARN AND OWN..
It's really not quite that black and white. Generally, we as a society sort of like roads, the judicial system, defense and such. Have to pay for that somehow.
Listen up little one. we ALREADY pay STATE and Federal taxes for those things..
 
OP
Flaylo

Flaylo

Handsome Devil
Joined
Feb 10, 2010
Messages
5,858
Reaction score
681
Points
98
Location
In some grass near you
Holy shit, you people buy that and you all DESERVE to have the Guberment CONSFISCATE all that you EARN AND OWN..
It's really not quite that black and white. Generally, we as a society sort of like roads, the judicial system, defense and such. Have to pay for that somehow.
Listen up little one. we ALREADY pay STATE and Federal taxes for those things..
I pary for the intellectually retarded.
 

Stephanie

Diamond Member
Joined
Jul 11, 2004
Messages
70,230
Reaction score
10,859
Points
2,040
It's really not quite that black and white. Generally, we as a society sort of like roads, the judicial system, defense and such. Have to pay for that somehow.
Listen up little one. we ALREADY pay STATE and Federal taxes for those things..
I pary for the intellectually retarded.
Then praying for yourself is a good start.

Do you EVER have a original thought or do you just let the Hufferpost and thinkProgess do your thinking for you?
 

Claudette

Diamond Member
Joined
Nov 3, 2009
Messages
38,890
Reaction score
9,184
Points
1,330
The revenue gain isn't with the rich. There aren't enough of them.

The real gain would be made by a middle class tax hike. Thats where the money is.

Flylo. Lets raise everyones taxes.

I'm absolutely sure the economy would come roaring back. Yep. Raise everyones taxes.
 
OP
Flaylo

Flaylo

Handsome Devil
Joined
Feb 10, 2010
Messages
5,858
Reaction score
681
Points
98
Location
In some grass near you
The revenue gain isn't with the rich. There aren't enough of them.

The real gain would be made by a middle class tax hike. Thats where the money is.

Flylo. Lets raise everyones taxes.

I'm absolutely sure the economy would come roaring back. Yep. Raise everyones taxes.
Most of the money is with a middle class take hike while the rich are sitting on trillions they refuse to spend on job creation, do you even have a facking clue? If thats the casew why aren't YOU volunteering to pay more of your own money?
 

DiamondDave

Army Vet
Joined
Jun 30, 2008
Messages
18,169
Reaction score
2,824
Points
183
Location
MD, on the Potomac River
More support of huffy-puffy and only selective equal treatment by law under government bu fail-o... who woulda thunk it??

Hey fail-o... when's that egress date again???
 

Full-Auto

Gold Member
Joined
Jun 13, 2009
Messages
13,555
Reaction score
1,624
Points
153
Holy shit, you people buy that and you all DESERVE to have the Guberment CONSFISCATE all that you EARN AND OWN..
It's really not quite that black and white. Generally, we as a society sort of like roads, the judicial system, defense and such. Have to pay for that somehow.
Then quit wasting our money on hookers, shrimp treadmills and union cronies..................
 

DiamondDave

Army Vet
Joined
Jun 30, 2008
Messages
18,169
Reaction score
2,824
Points
183
Location
MD, on the Potomac River
Holy shit, you people buy that and you all DESERVE to have the Guberment CONSFISCATE all that you EARN AND OWN..
It's really not quite that black and white. Generally, we as a society sort of like roads, the judicial system, defense and such. Have to pay for that somehow.
Then quit wasting our money on hookers, shrimp treadmills and union cronies..................

And art funding... redundant agencies... corporate and personal entitlements... $16 muffins in conference rooms... ads where the government pats itself on the back... subsidized loans... etc
 

Full-Auto

Gold Member
Joined
Jun 13, 2009
Messages
13,555
Reaction score
1,624
Points
153
It's really not quite that black and white. Generally, we as a society sort of like roads, the judicial system, defense and such. Have to pay for that somehow.
Then quit wasting our money on hookers, shrimp treadmills and union cronies..................

And art funding... redundant agencies... corporate and personal entitlements... $16 muffins in conference rooms... ads where the government pats itself on the back... subsidized loans... etc
:clap2::clap2::clap2::clap2:
 

LordBrownTrout

Diamond Member
Joined
Nov 25, 2007
Messages
30,053
Reaction score
8,565
Points
1,330
Location
South Texas
The government hasn't shown any interest in stopping spending for the last 11 years so therefore they deserve no progressive taxes. They need to live within their means just like the rest of us have been doing for the last few years. If they're competent enough to show that they can stop spending for 5, 10 years, we can start talking about a flat tax.
 

editec

Mr. Forgot-it-All
Joined
Jun 5, 2008
Messages
41,421
Reaction score
5,660
Points
48
Location
Maine
I suspect that if most people (the very wealthy included) KNEW that the extra money they were taxed wasn't going to be pissed away in still more stupid wars and PORK policies, many americans would go for it.

Sadly the past history of our government regardless of what party was in charge, is that when the governemtn gets money it gives it to its cronny partners in crime in the public sector.

In that respect I am sympathetic to those of you who currently just hate government.
 

WillowTree

Diamond Member
Joined
Sep 15, 2008
Messages
84,437
Reaction score
15,917
Points
2,180
Fair flat tax, no exceptions, no loopholes, no excuses. It's the only way to go.
 

Most reactions - Past 7 days

Forum List

Top