Redistribution

[klott]

It will get worse, obama wants to give all of the illegal aliens benefits too.

[Michael Larson]

We have had a progressive tax systme for a long time and Obama wants to make it even more so.

The bottom 50% of earners pay only 3% of all the income taxes the IRS collects.

The top 50% of earners pay 97% of the collected taxes.

We are now in the position the the top half pays for the bottom half. Good luck with ever turning around this massively progressive tax system.

On top of this Obama wants to increase capital gains taxes to very high rates.

This is the recipe for disaster. good luck to us all.

Source: The Tax Foundation

[relliott]

Originally Posted by mlarson

We have had a progressive tax systme for a long time and Obama wants to make it even more so.

The bottom 50% of earners pay only 3% of all the income taxes the IRS collects.

The top 50% of earners pay 97% of the collected taxes.

We are now in the position the the top half pays for the bottom half. Good luck with ever turning around this massively progressive tax system.

On top of this Obama wants to increase capital gains taxes to very high rates.

This is the recipe for disaster. good luck to us all.

Source: The Tax Foundation

So you are very wealthy to the point that this causes you to be deeply bothered.?

[Michael Larson]

Originally Posted by relliott

So you are very wealthy to the point that this causes you to be deeply bothered.?

No but I am deeply principled and believe that an individual has the right to keep what he has earned.

Apparently others don't.

Creeping (and now perhaps leaping) liberal/socialist policy is never satiated.

They tend to want it all. They have a long track record of just that.

[relliott]

Originally Posted by mlarson

No but I am deeply principled and believe that an individual has the right to keep what he has earned.

Apparently others don't.

Creeping (and now perhaps leaping) liberal/socialist policy is never satiated.

They tend to want it all. They have a long track record of just that.

As do the Republican Overlords.

They have a record of cr-ping on workers when left unchecked , to go along with greed and the Republicans claim all things will balance by nature, just like in the dark ages.

[Michael Larson]

You Mr. Bob Elliot are a Classist.

You have no libertarian in you if you find confiscatory taxes Okee Dokee just so the wealth can be spread around.

As long as a working majority in this country agree with you we are headed down a road on which it will be very difficult to turn around.

It is foolish to think that those with money will continue to stand by and let it happen.

They will find ways to hide their money, reduce expansion and/or they will leave for tax havens.

Your thinking is akin to killing the golden goose.

[Doug Edwards, CMI]

To break it down into a simple illustration; what they are proposing is like demanding you give every third inspection fee to the government so they can turn around and give it free and clear to someone who contributes nothing to the economy. So that means you have to work and market yourself with your money, your efforts, your sweat another 33% (actually greater) in a diminishing market just to maintain what you are currently making, while the recipient has to do absolutely nothing to get your hard earned money, meanwhile they actually move to the head of the line ahead of you for any government benefits to be handed out. This in turn creates an atmosphere of more people who wish to be in the receiving line instead of the providing line, after all who doesn't like free money and stuff. Those who are doing the providing quickly realize several things; one, they may have to lay off one or more of their inspectors just to maintain their standard of living (thus adding more people to the receiving line for you to pay for), two; they may need to cut back on their standard of living (Momma don't get no new car and if Momma ain't happy, no one's happy) three; they just close down the business and become one of the receivers but then their standard of living really is in the hopper cause the government don't want you to get too comfortable. It just goes on and on as each and every economic principle begins to fall and pretty soon you have an economy where no one produces anything (or it is inferior; think Russia at the height of the Cold War) because the costs of doing business far outweighs the benefits of doing business. The rich move themselves and /or their money (because they know how), businesses move overseas due to cheap, plentiful labor who are willing to work because there is no hand out program in their country (look at the economic engine in Asia), so people have to work to eat. It has been tried so many times and has failed each and every time, all down through history. Read the Rise and Fall of Roman Empire, we are on the same path and trying to use the same tools that sealed their doom. The change they are talking about is nothing new. What we really need to do is hang all the crooked, career politicians on both sides and start over and impose term limits.