• "Super Congress" - Debt Ceiling Negotiators Aim To Create New Legislative Body of Government
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[QUOTE=Alan Ninja!;31542074]The uppermost classes already pay tremendous amounts of taxes, while a large portion of the proletarians pay no federal taxes at all. Even a tiny little tax on that group would generate a lot of revenue, but nobody wants to tax the little man. I have to agree with Ridge. Increased revenue is a start, but spending really needs to be reigned in before the debt/deficit can really be affected.[/QUOTE] I don't want to sound like an ass, But i call major bullshit on the first few words of this statement.
Durhur the government did something we don't like we have to revolt.
[QUOTE=Ridge;31541403]You can only tax the people so much. The answer to running out of money should not be to demand more of the proletariat. Just like if parents have spending issues, they don't take their kids' allowances back to continue with the bad spending.[/QUOTE] This is where I have to disagree. Back before the partisan clusterfuck, the biggest principle of left-leaning government (in the US) was higher taxes, but more support services from the government to even things out. While you raise a point on reform, the quicker solution to the problem to get ourselves out of the deficit rut is to both cut spending and raise revenue, so the available money goes up, while the spent money goes down. This isn't an either-or situation. You need to do both, or else it gets that much harder on other families. Oh, and we have all these rich people that we could tax. Currently, I doubt it would be any major infliction on the rich by raising their taxes just a bit. Shouldn't the more wealthy have a personal obligation to better their society with extra money instead of just sitting on it? In the event that you might suggest trickle-down theory, it doesn't work mainly because the rich hoard their money. Even then, it's actually easier on the rich to pay higher taxes and let the government use the money for them.
[QUOTE=Fata;31542119]I don't want to sound like an ass, But i call major bullshit on the first few words of this statement.[/QUOTE] [url]http://ntu.org/tax-basics/who-pays-income-taxes.html[/url] Idk how reliable this source is, I'll check it out and look for another if necessary when I get home from work.
[QUOTE=joes33431;31543922]This is where I have to disagree. Back before the partisan clusterfuck, the biggest principle of left-leaning government (in the US) was higher taxes, but more support services from the government to even things out. While you raise a point on reform, the quicker solution to the problem to get ourselves out of the deficit rut is to both cut spending and raise revenue, so the available money goes up, while the spent money goes down. This isn't an either-or situation. You need to do both, or else it gets that much harder on other families.[/quote] I absolutely agree with that 100%. But our people seem to have no interest in cutting back their spending. Look at just the past week. Hundreds of 50 and 60 year old babies crying because they didn't want their pet project to take any form of pay cut. [quote]Oh, and we have all these rich people that we could tax. Currently, I doubt it would be any major infliction on the rich by raising their taxes just a bit. Shouldn't the more wealthy have a personal obligation to better their society with extra money instead of just sitting on it? In the event that you might suggest trickle-down theory, it doesn't work mainly because the rich hoard their money. Even then, it's actually easier on the rich to pay higher taxes and let the government use the money for them.[/QUOTE] I personally think that the rich horde their money in tough economic times because nobody knows what will happen to it. And government intervention into the economy has been shit lately. So I suggest it is government intervention that is causing the rich to horde their money. [editline]5th August 2011[/editline] [QUOTE=Alan Ninja!;31545822][url]http://ntu.org/tax-basics/who-pays-income-taxes.html[/url] Idk how reliable this source is, I'll check it out and look for another if necessary when I get home from work.[/QUOTE] And before some people flip out, that is percentage of all tax revenue they pay, not how much of their income they pay.
[QUOTE][img]http://visualecon.wpengine.netdna-cdn.com/wp-content/uploads/2005_income_distribution.gif[/img][/QUOTE] Here's a nice example of how income is distributed versus how taxes are distributed. Bear in mind this is 5 years old, but about 200,000 households earn more than $350,000 a year. If you look back at the tax statistics I posted earlier, half of that group paid about 40 percent of all income tax revenue from that year.
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