The top tax rate was 70% during the Carter Presidency and there was absolutely nothing positive that came of it that I can see. The business tax rate is 38%, the highest in the world right now and all I hear is whining about businesses going elsewhere.
Those few of you who believe in raising the taxes on this group (do you really understand what happens when you raise taxes on anyone?)
Please explain why it would be positive now if we did the same?
Here is a very interesting link showing tax rates and deductions for corporations and individuals from '07 to '11
You might notice the many deductions (loopholes) that we regular people have.
Answer by Anonymous at 10:57 AM on Apr. 11, 2011
Answer by adnilm at 10:58 AM on Apr. 11, 2011
The tax rate only counts if it's actually paid- Loopholes and entitlements for businesses, the rich and the poor are killing this country. Middle Class jobs have been desecrated and loopholes/entitlements for others have risen. The system is unsustainable. Unless we financially penalize those companies that avoid paying their corp taxes, the practice will continue and the US middle class tax base (AKA jobs) will be gone forever-
Answer by Sisteract at 10:59 AM on Apr. 11, 2011
Answer by yourspecialkid at 11:08 AM on Apr. 11, 2011
Answer by gammie at 11:21 AM on Apr. 11, 2011
Answer by sopranomommy at 11:23 AM on Apr. 11, 2011
Answer by Anonymous at 11:34 AM on Apr. 11, 2011
Those who have become wealthy over their lifetime (as opposed to an inheritance) earned it through hard work.
For the truly wealthy (mega millions/yr +), you need to do a little research on how much of that $$$ is earned via hard work VS inheritance. The legally untouchable wealth is for the most part passed down- Think Paris Hilton-
Tax codes need to be reformed and simplified.
Answer by Sisteract at 11:35 AM on Apr. 11, 2011
Answer by gammie at 11:37 AM on Apr. 11, 2011
Answer by minnesotanice at 11:41 AM on Apr. 11, 2011