In Favor of Progressive Taxation and a Balance Approach to Budgeting

Flaylo

Handsome Devil
Feb 10, 2010
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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.
 
Holy shit, you people buy that and you all DESERVE to have the Guberment CONSFISCATE all that you EARN AND OWN..
 
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.
 
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..
 
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.
 
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?
 
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.
 
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?
 
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..................
 
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
 
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:
 
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.
 
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.
 

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