Say the tax is 1,000 dollars. You think its fair that the college kid earning 12,000 a year is taxed at 8% while the CPA who earns 250,000 a year is taxed at .004%? That doesn't compute. Clearly a percentage is more equitable for everyone and has the same relative effect on everyone. I think a flat rate is best, but marginal progressive rates are ok by me.
Obviously not. But I don't think the person earning 250k+ per year should pay a huge amount just because they have been successful with their earning potential. I also don't think 40% of Americans that pay ZERO should get away with that. The system is so broke. People that make more shouldn't be penalized for that. The people that make less don't see any of that money, just the friggin Govt.
They are, they are simply capped at a million bucks, perhaps soon to be a half million bucks. Oh, and they can no longer take it on their ranch house in Colorado, nor can they take mortgage deductions from home loans for the new dock and boathouse, guest house, sauna, pool, putting green, and skeet range. Look, the whole idea of mortgage deductions was to encourage middle-class citizens to invest in homesteads by giving them this tax break. It is unnecesssary to encourage the wealthy to buy property, they already have done so and need no tax incentives. Instead it bilks BILLIONS of tax dollars from the country and puts it into the pockets of those that do not need it. You may as well ask why they aren't entitled to food stamps or public housing. They just . . . don't . . . need it. While others do. Meanwhile the lost $131 Billion of tax dollars could be better spent paying down the debt instead of buying a yacht for a multi-millionaire.
What if they make it a higher tax at 1 million? I don't think people making 250k a year are rich by any means. Most of the time those people that make that, have just as many if not much more bills than us that make around 50k. So flat tax rate for everyone that makes less than 1 million a year. problem solved.
It is not a misrepresentation at all and I have not suggested that middle class homeowners don't benefit from it. It was always intended as an incentive for middle class Americans to buy a house. I'm suggesting that the very wealthy have no need for this incentive on their mansion. The lost tax dollars subsidizing million-dollar mansions for the idle rich is significant. You can't deny this. It's an issue of the "someday-have-somethings" versus the "already-have-everythings". Indeed. It's not hard to take the next step and say that the very wealthy don't need tax incentives to buy a mansion and the country cannot afford to subsidize them. It's never impossible to speculate. I have posted the published plans and speculated on them. If you know of some other legitimate proposed plan, then post it and we'll speculate on it. But don't say that we can't speculate on what we do know today. It's absurd. But I am suggesting this. Deny it if you can, but don't try to tell me what I can't offer. Tell me, who in government is proposing to eliminate the mortgage deduction for the middle class? Who? Then tell me who in the right-wing media is suggesting this?
Why should they not pay the same rate as you or I? This makes no sense. And who are those 40%? Most are the working poor who make low wages and file tax returns. People like students, retirees on social security only, the disabled, widows not yet eligible for social security, regular middle class people that have been between jobs for a while, anybody working for minimum wage, dependent children of poor people. And yes some people living on welfare, which you can no longer stay on for more than 3 years. These people make less than $15,000 a year, sometimes a lot less and are in the 10-15% tax bracket. The same standard deduction that you and I receive is more than their tax burden at those low wages. Every dollar they earn goes into rent, food, and necessities. Paying the same fair share as the middle class is not being penalized. :insane:
Well, Obama pussed out. Big shocker. Democrats cower, Republicans don't. I am 100% positive that if the Republicans wanted to make arsenic a childhood food, that the Democrats would roll over and let it happen. Obama is looking to the election.
Seriously? Where have you been the last two years. Obama didn't puss out, the two parties compromised in many areas. It's exactly what hasn't happened since Obama took office.
Yeah, he pussed out. He did something the republicans haven't been willing to do in 10 years. I agree with the tax cuts for the middle class, but everyone making over a million doesn't need tax cuts. You have heard it from many millionaire's that say they wouldn't mind having their taxes raised. And there has been no compromise since he took office because with the GOP it's our way or the highway, regardless of what the issue is.
No, you've heard from high profile billionaires that they don't mind if their taxes are raised. You know this statement isn't true. There's been compromise as long as there's been politics.
