Raise Taxes On The Rich To Balance The Budget

[gsh341]

This video misses the point. If you wish to reduce the incentive to do things, you fine people for doing them. There is no real difference between progressive taxation of income and fining people for earning more.

It also ignores the fact that taxing 100% of all income over $500K/yr will still leave an annual deficit of $839B! The question they need to answer is "How do you remove a $839B deficit without massive cuts to government?".

The honest answer is, you can't.

[goodmanj1941]

i ask this because generally the students that do the work get the better grades, the better their grades the better their chances of getting into college. if they keep up the good work they have a better chance of getting a better paying job. if they get a better paying job they make more money. if they make more money they pay more taxes. so i ask , if you are for higher taxes why not tax the students GPA to give to the other students to bring up their GPA to a more socially justified level.

[goodmanj1941]

if your opinion is to raise taxes then ask yourself this.

lets assume that your child is in school and has earned a 4.0. now since school is to prepare them for life, lets tax them.

lets redistrobute their GPA. now if the class is like life then 50% of the class gets a 0. even if all the rest get a 100% for the class ( which is neer the case) the average is still 50%. which is failing. would u give up your childs GPA to another student that didn't do the work.

[mep41376]

I just did my taxes.Had an extention filed cause I had to borrow cash to pay my tax bill-LOL-seriously!That's cause I had to spend profit to pay back the past 3 horrible years that almost BK'd me/us.If I didn't payback, then I'd be cut off from vendors, close and 114 folks hit unemployement(including me)I dont' mind paying but HATE when it hurts my employees-which taxes do-higher taxes hurt even more.I have<5% turn over for a reason.I'm good to people, grew up poor.just sharing this reality,

[userasdf]

@mep41376 Again I acknowledge and appreciate the fact that you're a good employer and helping your employees whenever you can with your tax cuts. Sadly it does not help and has harmed the majority of american employees. If we could dictate employer actions to be more like yours then it might work out but as it stands, it does not.

[mep41376]

Do "tax the rich" people understand this?-if you tax ME (my inc. makes over 250k with my 114 emloyees) I'm FORCED to pass on some of that new tax bill to my employees-in my biz it's mostly mechanics making 50-75k-so you are hurting them (middle class) when you tax me beyond the silly amount I'm already taxed. I have to charge more for health ins, smaller raises. it sucks but I MUST keep a certain profit margin as per covenenants with my bank. I'm an independant BTW.I just wanted to share this.

[userasdf]

@mep41376 yet none of the tax cuts america has made for the rich has resulted in any more money to employees...

[mep41376]

@userasdf I don't know how-even the 3% on a dollar i got under Bush, I was able to NOT raise the employee weekly contribution to health care for 8 of 10 years(over the 10yr tax cut) so that's like $500 - $1200 per year, per employee, that they avoided paying-for years.I once kept my employee contribution the same for 6yrs and am proud of it but I admit I could NEVER of done it if I didn't get the Bush tax cut. Maybe people in news/gov are not counting that cause they don't know business at all.

[userasdf]

@mep41376 you may be a nice employer but the majority of americans are not. Most companies are raising employee contributions to benefits. You can't generalize just based on your own personal experiences

kiplinger com/news/article.php/employee-­healthcare-contribution-increa­ses-far-19935341.html

[mep41376]

@userasdf Didn't generalize, i was very specific and shared a personal business example.You may be generalizing about "majority" of American companies not being nice (not sure how you judge that)But you are right-I'm a VERY nice employer-a real sweetheart!lol.I just wanted to give a real and personal example to those who do not understand that tax cuts can surely help middle class-and certainly crush them too.Some employers are surely slime btw, no question.We are not all bad though.

[userasdf]

And there's a lot more references for other recent years. nber org/papers/w8878

[mep41376]

@userasdfYou are correct-certainly benefits go up-because the cost to employers go up every year and it's very hard to absorb it without splitting a portion with the employee who elects the benefit.Employers usually pay way over half of the health cost (I pay 75% but I'm nice). It has little to do with the employer/company directly, it's just a cost that must be dealt with-seems that folks don't realize that the employers/company's contribution goes up with the employee.by a much higher amount.

[userasdf]

@mep41376 kaiserhealthnews org/ Stories 2010 September 02 kff-employer-survey aspx

It's generally been an even increase for both employers and employees but not in recent years. I'm talking in terms of national stats so it assumes some generalization. I by no means imply that all business owners are scum. On average though, all the tax breaks have only helped the business owners make more profit. Sure there are some nice ppl like you that do pass on the benefits but most dont

[MUTT1126]

the deficit is an excuse for the republicans to roll back liberal ideas that passed decades ago that they didn't like. in other words, the de-liberalization of the country.

[Saaduk92]

Solving the deficit in two easy steps!

1. Raise taxes on the rich to the point where they're in the highest bracket.

2. Close all the taxation loopholes that are currently allowing 66% of corporations to pay zero taxes.

[TruthAndMoreTruth]

TAX the wealthy 3 fucking percent more! If they don't like it, they are free to move to another country!!!

End ALL subsidies!!! I'm tired of everything I eat being made of fucking corn!

Cut military spending my at least 33%. We should have enough weapons by now!!

[KiheiLawyer]

You people have no idea how economics. You really should stop talking about this until you understand both micro and macro economics. You also have no idea about history. Capitalism is not self sustaining if you do not an have upper, middle and LOWER class. Taxing the rich forces them to go elsewhere. You people need to get off of the "tax the rich" answer. Of course most people want the government do more and tax the rich, that doesn't make it the right thing to do.

[magus12345678]

@KiheiLawyer

In America we don't really have a real middle class anymore, and we probably never really did. The difference between being "rich" vs being middle class, vs the difference between middle class and being poor is extremely huge.

[TruthAndMoreTruth]

@KiheiLawyer That has got to be the weakest argument I ever heard. Are you sure you're an attorney?

[ooMONKEYoo]

@KiheiLawyer The thing is -- the middle class is paying more out of their paycheck in taxes than the rich. How is that fair?

Wheres the rich going to go when all states finally tax ALL AMERICANS relatively equally and get rid of loopholes.

[Numbuh7]

@KiheiLawyer Looks like you're the one that doesn't understand economics. I have family members of all economic levels. I can tell you right now that how much they are taxed does not affect their opinion of where they live. My rich family would not care about paying taxes as long as they can afford the things they want (which they can anyway). And for the ones that are so worthlessly greedy that they can't stand to pay, they are welcome to GTFO.

[philip0460]

What's happening in Wisconsin is a crime! All the money the rich are getting to keep because of Governor Walker and all the money the middle class are going to lose because of him, where is the justice?

[politicochris]

NPR's share of funding from the federal government is only 2% of it's overall budget and it amounts to only 2.4 million dollars. Even when you include state and local government funding, NPR raises well over 90% from donors.

[tstruss912]

Fox "news" is right....this IS class war.  Charge!!

[dangerouslytalented]

@tstruss912 Class war was declared some time back in the 1980s by the Republicans.

[AudioForAnarchists]

Everyone needs to GO WISCONSIN on the ruling class!

[MaicoMoon]

Fuck the rich, they are not the backbone that keeps this country going.

[Aaron767]

Bernie Sanders FTW!