Forum Thread

Fair Taxation For All Americans

Reply to ThreadDisplaying 8 Posts
  • Democrat
    Meridian, MS
    Are you sure you want to delete this post?
        
    John Boehner, Eric Cantor, and Mitt Romney have all repeatedly railed against additional taxation on the top 1-2%. They feel so righteous and smug about their opinions that they are totally unwilling to consider the UNfairness of the current situation, one that was almost forced on President Clinton during his years in the presidency, and one that even stands true today, because of the 60% rule in the Senate---another Republican ruse.

    Let me begin by stating my utmost despise for their voiced opinions against tax increases for these upper one or two percent of income earners. Certainly these Americans are in an elite group, whether it is due to their own hard work, an inheritance, or some combination of these two scenarios. Nonetheless, most are NOT paying income taxes according to the United States escalating income/escalating taxes schedule. I do realize that many “millionaires” do, in fact, pay their 30% share, especially those that are actually working for this income---such as professional athletes---but the majority of these “millionaires” are probably paying closer to a 15% share, because that is the rate that resulted when the Republicans somehow struck that deal with President Clinton to lower the capital gains official tax rate. I say that is NOT FAIR. How many non-millionaires can ever afford to invest sufficient funds where the income would be enough to sustain them and their families? Even a millionaire, who actually works for and earns over a million dollars, will only pay the 30% share only for the year that he earns that money. Once he has it and invests it, the rate on its interest magically drops to 15%, while the rate on his next year’s earned income might still be at the 30% level, and for, one year only, while he is still working that same job.

    I almost want to slap these guys in the face and get their attention for what seems to be only fair and logical. I just don't understand how the electorate can put these Republicans in office, when they can surely see that they certainly don't have the general public interest in their hearts.
  • Democrat
    Charlotte, NC
    Are you sure you want to delete this post?
        
    Well,the main reason that the Re-Pubs continue to draw support from folks who shouldn't be giving that support...lies at the door of a lot of mega-churches.And the Re-Pub "stand"against abortion.Gay marriage and the like.The GOP knows full well that if they try to run on a strictly finances based platform,they will get swamped.Hoover in 1932 thought them a lesson they have never forgotten.So they camouflage their true objective around a smoke screen of "social issues".
      Let me pause here for full disclosure.I'm Christian.Period.And I attend no mega church,and my stand on social issues,comes straight from the Constitution and the Bill of Rights.
      And as long as the GOP can continue to blind people to their true objectives,they will continue to pull in a large percentage of poor,working class votes.
      What is the answer?There always is an answer,right?And here it is relatively simple in theory,although rather tough in practice.And that answer is education.Not college or the like,but unmasking the GOP for what they REALLY are and who they REALLY support.And just as important,who they don't support.We have tools these days,that generations past could only dream of.Forums,Twitter,Facebook,text messages,unlimited communication 24-7.And on and on.And if we do not use these and other means of communicating this message to the masses,we stand to lose.What is the message?
      The GOP cares squat about "social issues" excepting ones social status.In other words,only the wealthy need apply.EXCEPT on voting day.Then,and only then,they have to deceive the masses.Once votes are cast,no poor folks need not try to contact them for any reason.Till two years later.Then,the "social issues" come out of the closet again. Ans around and around we go.
      Answer:start right where you are.Right now.Go talk to your neighbors.Go talk to your friends.Volunteer for a Democrat running for ANYTHING in your area.The only thing the GOP cannot stand up against?Information.Information unfiltered through their filters,information coming from the people. In years past,that was for all practical purposes,impossible.Now, it's as easy as picking up a phone,laptop,tablet,etc.And the knocking on doors,the way campaigns used to have to be conducted,that still works to.So we have six months till the election.Let's get to work. This is OUR country,not the top 2%.But work we must,for we can not compete with the flood of money pouring into Karl Roves' Super PAC's.But, and here is the kicker.We CAN out work them. And if we mean to take our country back from those who would sell us to the highest bidders-work we MUST.
  • Independent
    Okemos, MI
    Are you sure you want to delete this post?
        
    Michael,

    It is worse than you think. By taking income in the form of stock options, etc. the rich can make all of their income taxable at the capital gains rate. When Steve Jobs worked for a salary of $1 per year he was not making only $1 a year from Apple, he was taking all of his taxable income in forms that were taxable at the capital gains rate.

    But wait, it gets worse. When you hear that the rich can pay a rate of 15% that is the rate on taxable income. To the extent that the rich can shift income to retirement funds that income is not included in the calculation. In theory Mitt Romney pays 14.9% of his income in taxes but just looking for Mitt Romney's retirement accounts "earnings on between $21 million and $102 million were not included in the base on which that percentage was calculated." http://moderatelyliberal.blogspot.com/2012/04/big-understatement.html
  • Democrat
    New Berlin, WI
    Are you sure you want to delete this post?
        
    I believe the cap on earnings should be removed - that way, the million-dollar salaries & bonuses would be taxed like they should be.  There is  NO reason why the Average American pays  S.S. & Medicare taxes on 100% of their  earnings & millionaires & billionaires get to keep almost ALL of their income.

    Dodd-Frank should be made stronger, not eliminated, like the Republicans keep trying to do!
  • Democrat
    Charlotte, NC
    Are you sure you want to delete this post?
        
    There is a growing call for the complete removal of the cap on FICA.The USA today had an editorial on that very subject on 4/27/12 entitled "Trustees report underscores urgency of fixing Social Security".Page 8A. Removal of the cap will do a lot for the survival of the system.Getting it through a Re-Pub controlled congress,that's the hard part. Solution:Make sure after November,we don't have a Re-Pub controlled congress.Simple,right?Now all we have to do,is make that a reality.
  • Independent
    Okemos, MI
    Are you sure you want to delete this post?
        
    I don't think that removing the upper limit on FICA would make that much difference since the wealthy either shelter their income entirely (as I said in my previous post) or take it in the form of capital gains which is not subject to FICA.
  • Democrat
    Minnesota
    Are you sure you want to delete this post?
        
    is this fair? two groups of ind taxpayers..... a] 600 with av inc $20K b] 4 with av inc $3M.... each grp has the same total income..
    a] spends 98% of inc on essential current living expenses b] spends 50% of inc on living expenses...
    a] has no money left to invest for added income b] has 50% left to invest in 'wall street' financial activities...
    a] buys products, which helps pay for dividends and capital gains b] uses 50% of income to invest, and 'receive' added income...
    a] are needed,as workers to help businesses make profits b] enjoys the benefits of low cost workers...
    a] have no perks, connected to workplace b] have 'perks' - free lunch at work.. limo services to and from work.. vacation travel
    on company 'jet'.. dinners on company credit card ... and 'many more'...
    WE MUST WAKE UP....................
  • Democrat
    Meridian, MS
    Are you sure you want to delete this post?
        
    Great post Jim, I had forgotten that I posted this one so long ago. Thanks for your input, it is the truth!