Robert Reich: Why Taxes Have to Be Raised on the Rich

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  News & Politics

[Evan Donoghue]

"If you get hurt... go to the emergency room..."

That is why I buy insurance_ That is also not the issue I am debating_ The issue is; Is it ok for an unequal group of violent individuals to use the threat of force to take money from people for what they determine is a "common good">? The answer is, No_ Now, I am a pluralist that understands that u will not agree with me, that is why I support ur right to freely associate with immoral institutions, do u grant me that same respect>?

[Evan Donoghue]

"people pay into medicare, medicaid, and social security with their own payroll tax, so it's not a hand out. "

Wrong_ People do not "pay into" anything_ They have their wages stolen from them before they can even pay for food_ Now, if you like that, great_ But it is indeed theft to me_ So don't act like you speak for everyone, in fact, u speak for you, and you alone_

[jordanaug81]

What a load of liberal garbage. This is always about demonizing success and rewarding failure. Its not "fair" that the smart kid in class excelled, went to college, started a practice, spent a decade of his or her life in debt and then finally started to make money we have to penalize him/her because they aren't paying their "fair share". Im sorry but a doctor, innovator or computer geek has paid more share into this country than the person with their hand out getting money BACK from the IRS

[ConservativelySaid]

So government knows how to spend money better than the one who earned it? I don't agree.  Even if the rich won the lotto (an example of not creating jobs), they still spend a lot of money which is great for the economy and I would say a better way of then the government spending it for them. Car companies, boat companies, builders, restaurants all do well with rich clients. Tax them more reduces the riches spending on all these items and services.

[ConservativelySaid]

It shows that lower taxes increases income of rich and businesses. Remember most of the 1% are business owners with pass-through income. Say I own a business and make a salary of 100k and I own 50% of the business. The business makes $400 in taxable income. I pay income tax on $300K even though my take home was $100K. By raising taxes on 1% you tax many business' more and hurt the econ and jobs. Besides, who cares what someone else makes? But if you tax more it affects everyone negatively.

[DJRoksor]

You've only proven that the incomes are now so unbalanced that with a 35% tax rate the top 1% make up more of the tax money compared to when they had to pay 70% taxes. It however doesn't prove at all that lowering the taxes is how you'll collect more money.

[nagibson1]

he also fails to mention that when the tax rate was 70% and above Europe was a completely decimated global competitor because of World War II. The economic prosperity of those times is directly related to a lack of global competition, and a lack of alternative places for the rich to go or spend their money. The tax rates didn't change enough when those realities ended – hence the Carter administration with double-digit interest rates and an incredibly sluggish economy.

[sleepyballoons]

MY PROFESSOR IS SUCH A TALENTED MAN. HE EVEN DRAWS HIS OWN RSA ANIMATIONS.

[ConservativelySaid]

R. Reich fails to mention that though the top 1% have 21% of the income, they pay 39% of the taxes. That is an important number to leave out. In the past when the tax rate was 70%, the top 1% paid something like 16% of the taxes. But with the lower 35% tax rate they pay 39%. If his goal is to collect more money lowering taxes is how you do it. But that must not be his goal. His goal must be that he thinks it is unfair that some people make so much money. I wish he would just say that.

[EKopps071592]

Anyone making at least $1 million should not pay less than 30%. I'm a registered Republican and I believe the Buffett Rule is a great idea. Millionaires and billionaires are not job creators. Business owners who make $200K-$400K are job creators, but NOT the super rich. We need more moderate Republicans like Susan Collins in Washington who voted for the Buffett Rule. Unfortunately, moderate Repubs are a dying breed.