[url]http://blogs.wsj.com/wealth/2010/09/20/tax-me-more-says-wealthy-entrepreneur/?mod=rss_WSJBlog[/url]
[release]As Congress and President Obama fight over the Bush tax cuts, a small number of left-leaning rich people have come out in support of paying higher taxes. The most famous are the members of the Responsible Wealth Project, who say they pay too little in taxes and want to address inequality.
They may be an eccentric minority, or (in the view of conservatives) a lunatic fringe. But a Quinnipiac University poll this year showed nearly two-thirds of those with household incomes of more than $250,000 a year support raising their own taxes to reduce the federal deficit.
So not all of the wealthy are angry about tax hikes. But that doesn’t mean they just want bigger government. What they want is better government – and investment in growth.
An op-ed piece in the Los Angeles Times by Garrett Gruener, an entrepreneur and venture capitalist, makes two important points about taxing the rich. (Mr. Gruener founded Ask.com and is the CEO of Nanomix and is a co-founder of Alta Partners, so he’s got street cred.)
First, he says tax rates don’t make or break the success of an entrepreneur – or the jobs he creates. He says he’s paying the lowest rates of his working life. But “if you want the simple, honest truth, from my perspective as an entrepreneur, the fluctuation didn’t affect what I did with my money. None of my investments has ever been motivated by the rate at which I would have to pay personal income tax,” Mr. Gruener writes.
History, he says, shows that “modest changes in the tax rate for wealthy taxpayers don’t make much of a difference if the goal is to build new companies, drive technological development and stimulate new industries.”
Second, an economy built only on the rich – who account for the lion’s share of income and spending – is unsustainable.
“What American businesspeople know, and have known since Henry Ford insisted that his employees be able to afford to buy the cars they made, is that a thriving economy doesn’t just need investors; it needs people who can buy the goods and services businesses create.”
He says the tax hikes for the rich should be invested by government in infrastructure and research. Preserving his tax rates won’t lead him to start new companies in the U.S.
“What will change my investment decisions is if I see an economy doing better, one in which there is demand for the goods and services my investments produce. I am far more likely to invest if I see a country laying the foundation for future growth.”
Do you think entrepreneurs make their start-up decisions based on tax rates?[/release]
Rich people really should be taxed more. Socialism isn't that bad at all, anybody who protests it is either a greedy fuck or an idiot stuck in a post-cold-war era.
I came out of my bomb shelter filled with cash to say that I oppose this.
[QUOTE=Leaf Runner;24949808]Rich people really should be taxed more. Socialism isn't that bad at all, anybody who protests it is either a greedy fuck or an idiot stuck in a post-cold-war era.[/QUOTE]
I don't see whats wrong with wanting people to keep what they earned, there's also no reason they should have to give it away either.
Most middle class want rich taxed.
Government wants rich taxed.
Rich want rich taxed.
Hey...guys, guy, I have and idea, guys, now, this may be crazy, maybe, guys, maybe we should, guys, you listening, guys...tax the rich!?
What we should do is introduce a flat tax system.
[QUOTE=Detective P;24949906]Most middle class want rich taxed.
Government wants rich taxed.
Rich want rich taxed.
Hey...guys, guy, I have and idea, guys, now, this may be crazy, maybe, guys, maybe we should, guys, you listening, guys...tax the rich!?[/QUOTE]
But republicans and Fox News want rich tax cuts. So guess what's going to happen.
[QUOTE=Detective P;24949906]Most middle class want rich taxed.
Government wants rich taxed.
Rich want rich taxed.
Hey...guys, guy, I have and idea, guys, now, this may be crazy, maybe, guys, maybe we should, guys, you listening, guys...tax the rich!?[/QUOTE]
No because it's un-american or something
[editline]06:01PM[/editline]
or they really hate obama
2/3rds of rich can buy bonds if that's how they feel.
[QUOTE=Detective P;24949906]Most middle class want rich taxed.
Government wants rich taxed.
Rich want rich taxed.
Hey...guys, guy, I have and idea, guys, now, this may be crazy, maybe, guys, maybe we should, guys, you listening, guys...tax the rich!?[/QUOTE]
YOU'RE WAY OUT OF LINE! When I get home I'm gonna slap the shit out of you for such crazy thoughts, boy.
Fucking do eet Obama.
Whoever does give a fuck, should be shot.
If the guys want more taxes give them more taxes shesshh
[QUOTE=Leaf Runner;24949808]Rich people really should be taxed more. Socialism isn't that bad at all, anybody who protests it is either a greedy fuck or an idiot stuck in a post-cold-war era.[/QUOTE]
Why do the rich deserve to be taxed more? Is it because they have more money? Do they require more resources than someone else?
[QUOTE=Leaf Runner;24949808]Rich people really should be taxed more. Socialism isn't that bad at all, anybody who protests it is either a greedy fuck or an idiot stuck in a post-cold-war era.[/QUOTE]
if i have to work hard to earn money why should i work hard if taxes take it away?
[QUOTE=SteelReal;24950381]Why do the rich deserve to be taxed more? Is it because they have more money? Do they require more resources than someone else?[/QUOTE]
Because they gain more from society than a poor person.
[QUOTE=NightmareXx;24950408]if i have to work hard to earn money why should i work hard if taxes take ti away?[/QUOTE]
I was about to say the same thing, only without typos.
in a perfect capitalist world everyone gets taxed the same percent
[editline]06:20PM[/editline]
[QUOTE=Lambeth;24950420]Because they gain more from society than a poor person.[/QUOTE]
they work harder
[QUOTE=Lambeth;24950420]Because they gain more from society than a poor person.[/QUOTE]
How?
[QUOTE=NightmareXx;24950436]they work harder[/QUOTE]
Not necessarily.
the man who discovers interstellar travel is more important than that dumbass who spent all of high school on pot and is now working at the golden arches.
[QUOTE=NightmareXx;24950436]they work harder[/QUOTE]
That's not always true. Some people plain and simple aren't as fortunate (no pun intended) as others. It's not as easy as you may think to gain a lot if you have very little to begin with.
[QUOTE=Leaf Runner;24949808]Rich people really should be taxed more. Socialism isn't that bad at all, anybody who protests it is either a greedy fuck or an idiot stuck in a post-cold-war era.[/QUOTE]
Other than the unfortunate fact that uncorrupt governments who spend money wisely simply don't exist. Depending on the administration at the time, throwing money at the government doesn't do anything but pay for their private pet projects and booze parties.
[quote]The most famous are the members of the Responsible Wealth Project, who say they pay too little in taxes and want to address inequality.[/quote]
Awesome
[QUOTE=Skyhawk;24950515]That's not always true. Some people plain and simple aren't as fortunate (no pun intended) as others. It's not as easy as you may think to gain a lot if you have very little to begin with.[/QUOTE]
hi my grandfather immigrated from the middle east with almost no money but he got a degree and became a successful engineer.
so it is if you are willing to work for it.
[QUOTE=NightmareXx;24950480]the man who discovers interstellar travel is more important than that dumbass who spent all of high school on pot and is now working at the golden arches.[/QUOTE]
Wow aren't you Mr. Happy.
[QUOTE=DOG-GY;24950639]Wow aren't you Mr. Happy.[/QUOTE]
:buddy:
Roosevelt had a 90% tax rate.
And Americans back then were still flithy rich.
[QUOTE=Leaf Runner;24949808]Rich people really should be taxed more. Socialism isn't that bad at all, anybody who protests it is either a greedy fuck or an idiot stuck in a post-cold-war era.[/QUOTE]
The government should be made smaller, not bigger. They've already wasted enough of taxpayer money in the last two presidencies.
[QUOTE=Leaf Runner;24949808]Rich people really should be taxed more. Socialism isn't that bad at all, anybody who protests it is either a greedy fuck or an idiot stuck in a post-cold-war era.[/QUOTE]
call the opposing viewpoint idiots.
good job
[QUOTE=Reaver1991;24949987]What we should do is introduce a flat tax system.[/QUOTE]
I agree. That way, we can have way too much in taxes for the poor and way too little for the rich. Seriously, if anything, a value-added tax. And then only MAYBE.
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