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Raising Taxes on the wealthy VS. Cutting "entitlement benefits"

Thoughts? :)

by on Apr. 10, 2013 at 7:08 AM
Replies (31-40):
Anonymous
by Anonymous 1 on Apr. 10, 2013 at 7:43 AM
1 mom liked this



Quoting Anonymous:

If you look at how health is distributed in this country, it makes sense. The wealthiest people (the 1%) are wealthy of the sweat of others, not due to their own hard work. If these people paid living wages and medical, this wouldn't be an issue.


So Bill Gates is rich because he was lucky?  Warren Buffet was lucky?

I know a man who took 50K in 1977 and invested it. He died in 2007 with 40 million dollars. HALF of which the government took for taxes.  

You do know that inheritance tax is the highest tax there is, and it is assessed on money that WAS ALREADY TAXED ONCE.

This man was investing when short terms capital gains tax was 50%. WELL over half of what he made went to taxes, and when he died, anoother half was gone. And you think the taxes need to be higher?


I can just imagione if they extended the inheratience tax to everyone.  Here, you can keep your house, but we want half of the cash you have. People would be outraged.

Anonymous
by Anonymous 7 on Apr. 10, 2013 at 7:44 AM
1 mom liked this
The middle class. That is who they are really bleeding anyway. By the time "all the rich leave" the middle class will be pushed down to nothing anyway.

Quoting TeamTARDIS:

Then they need to go after the politicians who bled their fund dry.

What is America going to do once the wealthiest people leave the country? Who are they going to bleed next?




Quoting IandLoveandYou:

Well.. Social security and Medicare are benefits for the elderly who were told that, that money would be there for them when they retire.





Quoting TeamTARDIS:

So taking more money from the rich to give to the poor? Typical.

chrissyk3
by on Apr. 10, 2013 at 7:46 AM
1 mom liked this
So now Social Security and Medicare are PA and under the entitled category? Really could you people get any more ridiculous? I pay into social security and medicare out of every paycheck and you better believe I will ise it if I need it. And I definitely believe if you make 150,000+ a year you should pay more taxes than someone making 30,000 a year. My father worked for 35 years and when he couldn't even stand for longer than 10 min he had to fight for his social security.
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TeamTARDIS
by on Apr. 10, 2013 at 7:47 AM
3 moms liked this
By then this country will be a cesspit and no one will be able to do anything without a government handout.
What ever happened to the independent spirit that founded America? Stroking out and making a life for your self from your own blood, sweat and tears?
It Pisses me off.


Quoting Anonymous:

The middle class. That is who they are really bleeding anyway. By the time "all the rich leave" the middle class will be pushed down to nothing anyway.



Quoting TeamTARDIS:

Then they need to go after the politicians who bled their fund dry.


What is America going to do once the wealthiest people leave the country? Who are they going to bleed next?






Quoting IandLoveandYou:

Well.. Social security and Medicare are benefits for the elderly who were told that, that money would be there for them when they retire.







Quoting TeamTARDIS:

So taking more money from the rich to give to the poor? Typical.


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Susan0805
by Platinum Member on Apr. 10, 2013 at 7:48 AM
3 moms liked this
Maybe we should stop shelling out money to every Tom, dick, and Harry; and actually reduce spending/ save. Such an absurd notion I know.
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SamMom912
by on Apr. 10, 2013 at 7:49 AM
4 moms liked this


Ummm, what aboutnthose of us innthe middle... My hubby lost 14k of his pay because of obama this year. 

Yes, he makes a lot of money- but works 80hours a week,, commutes for 2 hours a day and worked his tail off for a great education to get a great job to provide for his family. And we pay a ton of money in taxes! I dont have a great life based on all this hard work. Its decent sure, but we work really really hard... To pay for OTHERS....And honestly, since we a stuck in the middle.. SS and Medicare wont be there in 20 years as the system is and will be depleted! 

It issnt the "stinking" rich Obama takes money from... It is those of us who "make" a decent living.. But work wicked hard for it... And get penalized.. 

In a black and white world of absolutes --- yes... Sure robin hood did great.. But, there is soooo much grey area forgotten about. 


Quoting jeweldragons:

The rich aren't going to go bankrupt by paying higher taxes once a year. I think Robin Hood did a great thing. He took from the greedy rich sheriff of Nottingham to give to the poor and peasants.



cjsmom1
by on Apr. 10, 2013 at 7:49 AM
1 mom liked this
I disagree. Most people who earn a lot donate huge sums of money to worthy causes. Either way they worked hard and can do what they see fit with it. I understand falling on hard times but what you do to get past it is important. I work seven days a week to provide for my family.


Quoting NNB:

Yes Seriously, these people seriously think it is ok to sit on huge amounts of money when there are others starving and dieing, not because they wont work, but majority of people can't find a job, work minimum wage, 40 + hours a week or more and still can't make ends meet. I have no room for the rich. They are disgusting greedy people, if the government didn't tax so high and CORPORATIONS paid more of their tax then things would be better for the poor!

Quoting TeamTARDIS:

Why is that a bad thing? Seriously? Leaning on one group to fund another is never a good idea. Many if the wealthiest families are leaving the USA because of this practice, so when they are gone who are they going to take from next?





Quoting NNB:

Why is that a bad thing?

Quoting TeamTARDIS:

So taking more money from the rich to give to the poor? Typical.






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Anonymous
by Anonymous 1 on Apr. 10, 2013 at 7:50 AM



Quoting LAXmom21:

So if I make $150,000 a year and pay $30,000 in taxes why is it on for my neighbor to make $500,000 and pay only $35,000 in taxes? Shouldn't he pay way more?

Quoting TeamTARDIS:

So taking more money from the rich to give to the poor? Typical.

The only way that could happen is if your neighbor had ONLY unearned income. UNEARNED income is taxed at a lower rate for everyone. You could invest some of your money in whatever you wanted and get taxed at 15% om that income. The change in that law is one of the big reasons the country enjoyed such prosperity in the 90's when the tax laws changed. You see when people invest in businesses by buying their stock, the companies have the capitol they need to expand and grow.  That in turn creates jobs for people.


Tax Rate on Short-Term Capital Gains

Capital gain income from assets held one year or less is taxed at the ordinary income tax rates in effect for the year, ranging from 10% to 35%.-So SHORT TERM INCOME WOULD BE AT 35% FOR YOUR WEALTHY NEIGHBOR

Tax Rate on Long-Term Capital Gains

Capital gain income from assets held longer than one year are generally taxed at a special long-term capital gains rate. The rate that applies depends on which ordinary income tax bracket you fall under.
  • Zero percent rate if your total income (including capital gain income) places you in the ten or fifteen percent tax brackets.
  • 15% rate if your total income (including capital gain income) places you in the twenty-five percent tax bracket or higher.
  • THIS IS HUGE FOR THE PEOPLE WHO WANT TO TAKE ADVANTAGE OF IT AND INVEST-PARTICULARLY THOSE IN THE FREE BRACKET OF UNDER 15%

Tax Rates on Dividend Income

Dividends are classified either as ordinary dividends or as qualified dividends. Ordinary dividends are taxed at ordinary tax rates for whatever tax bracket you are in. Qualified dividends are taxed at the long-term capital gains tax rates of zero percent or 15% percent rate. To be eligible as a qualified dividend, the dividends must be from a domestic corporation or a qualifying foreign corporation and you must hold the stock "for more than 60 days during the 121-day period that begins 60 days before the ex-dividend dat


Susan0805
by Platinum Member on Apr. 10, 2013 at 7:51 AM
2 moms liked this
I sure hope that's not your only plan... Analyst predict they are running out of money to pay for everyone. I would NEVER depend on the government to secure myself or my family and I suggest you don't either!

Quoting chrissyk3:

So now Social Security and Medicare are PA and under the entitled category? Really could you people get any more ridiculous? I pay into social security and medicare out of every paycheck and you better believe I will ise it if I need it. And I definitely believe if you make 150,000+ a year you should pay more taxes than someone making 30,000 a year. My father worked for 35 years and when he couldn't even stand for longer than 10 min he had to fight for his social security.
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hhhanna
by Silver Member on Apr. 10, 2013 at 7:53 AM
3 moms liked this

Making the rich poorer does NOT make the poor richer.  When you raise taxes on one group of people, the vast majority of time it affects all, especially the poor.  There should be 'smart' changes, people like the Clintons, the Bushes, Pelosi - they are all eligible for social security; do any of them need it?  It should be means tested, if you have 'other' income that exceeds a number (lets say $100K a year) then social security for you needs to be cut back if not eliminated.  Taxing the 'rich' is NEVER the answer.

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