Quote:
Originally Posted by Riot
Which has nothing at all to do with the tax rate each bracket pays individually, and the deductions contained therein for each type of income in each bracket (such as the wealthiest paying only 15% on the top income bracket funds, because most of their income comes from capital gains, while lower brackets are taxed at regular income rates).
Aside from that, I'm always sorry when you completely miss the message or point of what was posted (hint - nothing at all to do with taxes)
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What do you want then? In addition to raising taxes of the 1% you want to also outlaw their wealth? Or do you want them to re-distribute their wealth as in the beginning of a monopoly game? Collectivism over Individualism, I get it. Our founding fathers would have boiled you.
(hint-What I posted is the bottom line. What people pay in taxes? What their share currently is. I know it doesn't jive with your view of America but it's the truth. That bottom line may be a problem for you as demonstrated by your inability to understand the bailout loan to GM was not paid off in full but rather in stock/paper that’s worth 50 cents on the dollar)
If you can find some way 'ole Sam made his money illegally then by all means go sue him or actually his heirs but to blame him for success is very ugly and peasant like considering he was once one of the 99%. BTW even in the OTB, a microcosm of society, there is always one or two that sulk with envy when a big hit is made (instead of congratulating and asking how the ticket was constructed these types yell luck and then want to show how close THEY came, usually not close at all) and I believe a portion of the Wall Street crowd and you have a lot in common with this type. .
Don’t get me wrong. Fortunes have been created breaking the law and those situations should be investigated, prosecuted and if warranted, money returned but to vilify all 3 million Americans who make up the 1 percent simply based on success and some concocted, deceitful accusation they are not paying their fair share is wrong, when in truth they shoulder 38% of taxes paid; every year.
With the top half already accounting for almost 100% personal income taxes already, raising taxes further is ludicrous. Instead Government needs to undergo a huge reduction. Like the average American it has become obese and it’s not all her fault as every time she has asked for more she has been given it. No more. We need to give her some tough love and demand she lose 10% quickly.