Not the platform he ran on by the way but it is the one he seems to be employing even though it makes pelosi's ass pucker tighter than (enter superlative here) The one thing that only Red has hit on is that rich is based off of net worth, not income. I know people who make 200k/year but can't write a $10k check without making some major moves to do so. Rich is different to different people. I have my ideas and I'm sure some of you would think they're crazy and maybe I would think yours are crazy. Different strokes for different folks. One good way to think of it is that a person that is wealthy could cut off all of their active income for an extended period of time and not need to make any life changes nor lose any of their wealth.....or having a ballin yacht.
This is only true about payroll taxes, actually. Really rich people don't get 100% of their income by a payroll tax, and they pay less of thier overall income in taxes than someone who does. Another interesting stat. The top one half of one percent make more than the bottom 50%. Something to think about when you begin to think the rich are overtaxed.
Of course, the activities of those rich people that are less taxed are what make our economy move, but why let facts get in the way of a good story.
It's the old story, there are lies, damn lies and statistics. The reason the rich pay most of the taxes is because their making most of the money. But how do you figure a CEO who gets several million in stock options is making the economy move? If you cut payroll taxes on the middle class, they'll have more spending power, which will go straight back into the economy.
So you think the uber rich should pay a smaller percentage of their income in taxes than someone who is considered middle class? Now, that's some class warfare, all right.
Hmmm, perhaps by growing the company? Since he was pretty much designated as the best person to do so, paying him $25 million or so is probably a good idea if he can increase profits by half a percent which coul be up to $400 million or so on some of the largest companies in the world. Believe it or not, there's a reason CEO's make the money they do. But your example is not the only one talked about. Most people, regardless of their political affiliation agree that long term CG should be taxed at about 20% because it keeps people buying and selling which keep the economy going. The new president agrees with this. This is just one example. I just don't understand the hate for someone going out and making a bunch of money. I'm happy to live in a country where that's possible.
Wow, Red would have your butt for that one. That's putting words in my mouth. I don't think that at all. However, I do think that certain activities need to be taxed at different rates for the betterment of the overall economy. Take my example of LTCG above. I certainly don't think we have the best tax system in the world but being totally appalled that some tax rates are lower and those are typically taxes paid by the wealthy is not fair. It can be necessary.
