• 68 percent of millionaires support raising taxes on millionaires
    44 replies, posted
[URL="http://blogs.wsj.com/wealth/2011/10/27/most-millionaires-support-warren-buffetts-tax-on-the-rich/?mod=e2tw"]Wall Street Journal[/URL] [release]Warren Buffett isn’t the only rich guy who wants to higher taxes on the rich. A new survey from[URL="http://www.millionairecorner.com/"] Spectrem Group[/URL] found that 68% of millionaires (those with investments of $1 million or more) support raising taxes on those with $1 million or more in income. Fully 61% of those with net worths of $5 million or more support the tax on million-plus earners. Buffett, as you might recall, has [URL="http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html"]proposed[/URL] raising taxes on million-plus earners, saying the ultra-rich pay lower rates than everyday workers.Rich people’s opinions of Buffett remain fairly positive in the wake of his tax-me-more crusade. More than a third of millionaires and ultra-high-net-worths said they have a more positive opinion of Buffett after his tax proposal. Only 19% of millionaires and 22% of the $5 million -plus group said they had a more negative opinion of him after the proposal. More than 40% of both groups said their opinion hadn’t changed.In other words, Buffett’s proposal had more supporters than detractors among the rich — though that support declines slightly as you move up the wealth ladder. Explains George Walper of Spectrem: “What this tells us is that there are a number of wealthy folks who said: ‘Gee, we need to increase taxes to stimulate the economy. No one likes to be taxed more, but the reality is maybe it has to be done.’ ”Walper added that he was also surprised at the positive reactions to Buffett’s political agenda. “I thought that among this group there would be a feeling of ‘why doesn’t he keep his nose out of it?’” As part of its survey, Spectrem Group also collected comments from the respondents. Here are a few highlights, from both the pro-Buffett and anti-Buffett camps: [B] PRO-BUFFETTS [/B]“When you have someone who made four and a half billion pay fifteen percent, and because it’s a hedge fund, I have a problem with that.” “Quite frankly if Warren Buffett gets taxed an extra fifty thousand dollars or your typical investor of two hundred and fifty [thousand] or larger has to pay an extra thousand dollars in tax; It’s not gonna change his lifestyle. Whatever he or she was gonna buy, he or she is gonna buy.” ““I think theoretically it would be good for this country and put some more money in the coffers, personally it wouldn’t be good for my family so I’m kind of at conflict between self interest and what might be good for the country.” [B] ANTI-BUFFETTS[/B] “I think some of that spirit of America is lost when you start penalizing so to speak, the folks who have more.” “I think there should be a voluntary check box on the tax form that says, if you would like to send in more please do.” ““For myself, if there were an increase in taxes, I’m probably gonna button up some spending.” The survey and comments prove that the rich are not the monolithic, entirely self-serving group that is often portrayed in the media. They are just as divided as the rest of the country. And many are willing to pay more taxes.[/release]
level 68 humanity.
Not even the people conservatives are trying to protect agree with them anymore. I like where this is going.
[QUOTE=Last or First;33062958]Not even the people conservatives are trying to protect agree with them anymore. I like where this is going.[/QUOTE] like the conservatives are going to change their ways
[QUOTE=Phycosymo;33062990]like the conservatives are going to change their ways[/QUOTE] Well of course they aren't. They're [I]conservatives[/I]. It's their [I]job[/I] to defy change, even if it's absolutely necessary, good, and logical.
I feel so proud of those rich, rich people. I could cry because 68% of them do care.
And yet, jack shit is getting changed it's like the government isn't listening to ANYONE, even the people they're trying to "protect the rights of"
I think they only agree with the whole higher taxes thing because they want to avoid a repeat of the American Revolution, only this time with a whole lot of French Revolution-Beheading-Aristocrats-left-and-right fare thrown in. :v:
[QUOTE=Last or First;33062958]Not even the people conservatives are trying to protect agree with them anymore. I like where this is going.[/QUOTE] Hopefully to a cleansing of greedy corporatists.
I agree that taxes should be raised for top earners (1 million a year or more), but not for people who make 250,000, that's just not fair. Keep in mind that is also very easy for Warren Buffet to say this, he could give up 99.99% of his wealth and still be a millionaire.
[QUOTE=HolyCrusade;33065964]I agree that taxes should be raised for top earners (1 million a year or more), but not for people who make 250,000, that's just not fair. Keep in mind that is also very easy for Warren Buffet to say this, he could give up 99.99% of his wealth and still be a millionaire.[/QUOTE] I think it's fair to say the tax brackets need reworking and 250,000$ should not be considered "rich" anymore.
[QUOTE=Madman_Andre;33065682]I think they only agree with the whole higher taxes thing because they want to avoid a repeat of the American Revolution, only this time with a whole lot of French Revolution-Beheading-Aristocrats-left-and-right fare thrown in. :v:[/QUOTE] ...so the rich want to raise taxes on themselves do they can revolt against themselves and behead themselves?
Anyone want to bet that the conservatives are going to try to spin this by using the old "trickle down" fallacy and not give them what they want because they assume it'll lose money for the "everyman". Seriously, ever since Andrew Jackson pulled that "fight for the common man" card in the 1800s, it's been abused.
I do like the idea of "Check this box if you wish to pay a flat X% tax rate". Make it higher than normal taxes would bring the rate to. Basically allow the filthy rich to help their country.
In a country as divided as we are, this idea is consistently polling the in majority in almost all political and economic groups. EVERYBODY seems to agree that the rich need to pay more and Congress should put our needs above theirs, including the rich themselves. Yet Congress still refuses to make the rich pay a single dime more than they do, and our DEMOCRATIC president signed a renewal of the Bush tax cuts.
[QUOTE=HumanAbyss;33066013]I think it's fair to say the tax brackets need reworking and 250,000$ should not be considered "rich" anymore.[/QUOTE] Why not? 250k a year is a shit ass of money, it's like 5 times larger than the national average, that seems rich to me, at least relative to the general population
[QUOTE=Clementine;33066638]Why not? 250k a year is a shit ass of money, it's like 5 times larger than the national average, that seems rich to me, at least relative to the general population[/QUOTE] They already pay more than those who earn the national average. No need to raise it any higher.
My family inches closer to that $250k range, but i wouldn't call us rich
[QUOTE=HolyCrusade;33066693]They already pay more than those who earn the national average. No need to raise it any higher.[/QUOTE] Well I'm just saying it is pretty rich, relatively, but not deserving of more taxes.
Then why don't the 68% pay more? They say they want too, and they can. The reason they don't is probably because they know that the government doesn't spend it wisely.
[QUOTE=Alvaldi;33066755]My family inches closer to that $250k range, but i wouldn't call us rich[/QUOTE] If you made 250k after taxes every year, and you spent like 4 k a month your family would have 202k to suck your own dicks with, after 2 years you could buy a Lamborghini Aventador or Ferrari Italia, and after 5 you could buy a million dollar house. Now if you made 250 before taxes you would have 175k after it, leaving 127k for your asses after 4,000 a month, after 3-4 years a Lamborghini Aventador or Ferrari Italia, and after around 7.87 years you could buy a million dollar house. 4,000 a month is a lot of money, you likely do not spend that much. You are what I would consider, rich. [editline]31st October 2011[/editline] (I may have overstated or understated the tax rate, I thought 250k would be taxed 30% because that's the highest I've heard of, I may be wrong) [editline]31st October 2011[/editline] Oh I was wrong, it's 33%, just add some decimals to the years
[QUOTE=T2L_Goose;33066932]Then why don't the 68% pay more? They say they want too, and they can. The reason they don't is probably because they know that the government doesn't spend it wisely.[/QUOTE] Or because there's no way to facilitate giving more money to the government when you don't have to If you overpay your taxes you get a cheque in the mail
[QUOTE=Zeke129;33066969]Or because there's no way to facilitate giving more money to the government when you don't have to If you overpay your taxes you get a cheque in the mail[/Quote] [url]http://www.fms.treas.gov/news/factsheets/gifts.html[/url] Incorrect. So I'll ask again. If they want to give more, then why don't they?
[QUOTE=T2L_Goose;33067015][url]http://www.fms.treas.gov/news/factsheets/gifts.html[/url] Incorrect. So I'll ask again. If they want to give more, then why don't they?[/QUOTE] That's interesting They probably don't because they want everyone as rich as them to pay more taxes
[QUOTE=HolyCrusade;33066693]They already pay more than those who earn the national average. No need to raise it any higher.[/QUOTE] [QUOTE=Alvaldi;33066755]My family inches closer to that $250k range, but i wouldn't call us rich[/QUOTE] When you're talking about $250k what do you mean? Yearly income? How is that not rich? What the fuck do you spend your money on anyway? My family makes about $70k gross a year and we're living a pretty good life. Everything's a shitload cheaper in the US so really (gasoline less than half), what the fuck do you spend your money on?
[QUOTE=Zeke129;33067026]That's interesting They probably don't because they want everyone as rich as them to pay more taxes[/QUOTE] Right, but why don't they give more themselves? 68% is a decent amount of rich people. If they're all willing to give more, then why do we need to tax the rest of the people who don't? Just hold them to their word. Like I said, I'm willing to bet the reason they don't give more is because they know that the government doesn't spend their money wisely, that why they give it to other people who are actually making progress in things. Warren Buffet donates a lot of money to Bill Gates, who is trying to create vaccinations for people in poor countries.
[QUOTE=Lalelalala;33067039]When you're talking about $250k what do you mean? Yearly income? How is that not rich? What the fuck do you spend your money on anyway? My family makes about $70k gross a year and we're living a pretty good life. Everything's a shitload cheaper in the US so really (gasoline less than half), what the fuck do you spend your money on?[/QUOTE] That's what I'm saying! Except I'm using Lamborghini Aventador's and Ferrari's as a basis of wealth
[QUOTE=Used Car Salesman;33066570]In a country as divided as we are, this idea is consistently polling the in majority in almost all political and economic groups. EVERYBODY seems to agree that the rich need to pay more and Congress should put our needs above theirs, including the rich themselves. Yet Congress still refuses to make the rich pay a single dime more than they do, and our DEMOCRATIC president signed a renewal of the Bush tax cuts.[/QUOTE]Course the republicans were twisting his arm on that but they always do that
You guys can tax the shit out of the rich and it won't make a difference. You can tax them 100% and we will still be in debt. It's a spending problem. Maybe if we stop fucking about in the middle east, constantly paying for that, we can make a big step to fixing this shit. Then you won't have to tax people as much just to fucking kill people in the middle east.
[QUOTE=T2L_Goose;33067095]You guys can tax the shit out of the rich and it won't make a difference. You can tax them 100% and we will still be in debt. It's a spending problem. Maybe if we stop fucking about in the middle east, constantly paying for that, we can make a big step to fixing this shit. Then you won't have to tax people as much just to fucking kill people in the middle east.[/QUOTE] I completely agree but that alone won't fix the deficit You have one of the lowest tax rates in the developed world and also one of the highest deficits while providing some of the least amount of social services The military budget alone isn't causing the deficit, lack of revenue is definitely an issue as well
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