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Peter D

Taxing the Middle Class

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]QUOTE]It serves the interest of both parties to argue about taxes on corporations and the wealthy because neither wants to discuss the alternative, which is where things get touchy. To solve our debt problems, we have to go to where the money is — the middle class. People who earn between $30,000 and $200,000 a year make a total of around $5 trillion and pay less than 10 percent of that in taxes (owing mostly to tax incentives and the fact that most families make less than $68,000, where larger tax rates begin). Increasing the middle-class tax burden an additional 8 percent, however, would actually have a bigger impact than taxing millionaires at 100 percent. Still, many experts say we don’t need to raise the tax rate on the middle class; we just need to get rid of some of those despised loopholes (or beloved incentives). Most reform proposals suggest gradually eliminating the most popular tax deductions, like mortgage interest rates ($120 billion per year) and workplace health insurance ($200 billion per year). Regardless, most economists acknowledge, and most politicians privately concede, that the middle class will have to give up some benefits (Social Security, Medicare) or it will have to pay more in taxes. Actually, it will probably have to do both. The millionaires will be paying more, too. Leading Democrats are proposing a nearly 10 percent hike.

 

http://www.nytimes.com/2011/11/13/magazine/adam-davidson-tax-middle-class.html?_r=1&hp

 

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It's just so much easier to be popular when you promise to tax the rich. The rich have very little voting power and the worms that want to eat the rich have enormous voting power. It's not democracy when the majority can vote to seize money from the minority, but it's such an effective political gambit that the democrats rely on that as their core platform.

 

If we want to right this ship, we're going to have to stop the class warfare and accept that we're all going to have to have skin in the game. Let's get the economy turned around and then It's inevitable that we're going to have to raise taxes. But not just on the rich. Not only would that be unjust, it also wouldn't get the job done.

 

And income tax should start with the first dollar everyone makes. No one should be exempt. Not even people on welfare. If you don't think they would pay, then just deduct it when you cut the check.

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Before I pay another effin penny in taxes those asshats down in Washington and our state capitals must demonstrate fiscal responsibility.

 

Borrowing 40 cents of every dollar that the government spends is not fiscally responsible. :mad:

 

 

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I think losing 1/3rd of my paycheck to taxes is more than enough. I really do.

 

Yeah. So do I. But we aren't going to hold the government's feet to the fire. We want more "programs" from the government. We literally beg the government to spend more.... and someone's got to pay for it and we can't all just tell them to send the bill to the rich.

 

Maybe we need to get more serious about cutting government spending. Either spend less or pay more. One of those two things has got to happen.

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Yeah. So do I. But we aren't going to hold the government's feet to the fire. We want more "programs" from the government. We literally beg the government to spend more.... and someone's got to pay for it and we can't all just tell them to send the bill to the rich.

Maybe we need to get more serious about cutting government spending. Either spend less or pay more. One of those two things has got to happen.

 

Print, print, print, print, print, print, print, print, print, print, print, print, print, print, print,

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Before I pay another effin penny in taxes those asshats down in Washington and our state capitals must demonstrate fiscal responsibility.

Borrowing 40 cents of every dollar that the government spends is not fiscally responsible. :mad:

 

The sad thing is even if we gave them 40% more from our paychecks they would still keep on borrowing to spend more.

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The sad thing is even if we gave them 40% more from our paychecks they would still keep on borrowing to spend more.

 

What's even sadder is that there are people sprouting ignorant propaganda like "a 0.07 percent tax on people earning over a million dollars" targeted for some noble program or jobs bill or feeding starving babies of homeless widows of brave veterans or some other such crap. As long as we're spending more than we're taking in revenue, there's no specific target for any of the revenue collected. It's like paying the rent for a drug addict that's broke at the end of every month. You can say you're paying his rent if it makes you feel better, but for all intents and purposes, you're really buying his feckin' drugs. He wouldn't be able to pay for them AND the rent without you.

 

Until we've got zero deficit spending, there are no tax increases for special projects. There are only tax increases for more deficit spending.

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Quote:

Originally Posted by Gotcow? View Post

 

Before I pay another effin penny in taxes those asshats down in Washington and our state capitals must demonstrate fiscal responsibility.

 

Borrowing 40 cents of every dollar that the government spends is not fiscally responsible. mad.gif

 

YES! This right here! 

 

 

 

The mindset that "it's only government money" has got to be reigned in.

 

 

 

 

 

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