Why is it that millions of rpeublicans that make an average of $25K-$30K per year think that raising taxes on the rich to save our nation from bankrupting social security is such a horrible idea???? I just don\'t get it. Personally, I like the idea of taxing the rich more. Because of the payroll tax (which is in addition to the income tax), the US taxation system is NOT progressive, meaning we all pay almost the same rate. (and I refer to a comparison of millionaires vs the middle class, and am not referring to the poor, whom DO pay less as a percentage)... but I have done calculations that show that a man at $50K pays close to the same percent as a man at $1million. Our nation is going bankrupt since the baby boomers will soon be on social security... I have shown detailed CBO numbers that reveal the deficit will go up by trillions over 10 years.... even the head of the fed reserve says something must change.... So what is the big complaint about raising taxes on someone earning over $200K per year to help balance the budget? And, its not like increasing personal income taxes on those making over $200K per year is an increase on corporate tax rates. Corporations make the most good jobs for workers, so it won\'t affect corporate growth...(except it would cause a minor decline in available capital funds caused by less personal savings and investment by those making over $200K per year, but there is plenty of capital in the US market and taxing the rich don\'t destroy the US capital markets) Sole proprietorships account for the largest number of small businesses. On average they have $58,000 in receipts and $30,000 in income. They don\'t make over $200K per year.... only 2.7% of all sole proprietorships from 1990-98 had RECEIPTS (not INCOME) over $200K... http://www.bebwa.com/newsletters/march2004.pdf And, even in the case of Doctors or Lawyers or Accountants that have S corps so the income passes through to their personal returns... its not likely to stop their growth of their business since all their costs of operating business is tax deductible and always has been.... I know that republicans say it could lower their personal investments and personal saving and MAY affect their business growth plans...and to some extend, its true.... any basic economic reveals this... but lets not exaggerate this. Remember, if a sole propriety has over $200K in INCOME... what that means is that he is NOT investing it in his business.. and its his PERSONAL income... BECAUSE if he was investing in his business it would be a deduction... Let me explain further, Joe owns a sole proprietorship. Say he has receipts of $500K... and costs of $300K... so he pays taxes on that $200K, which he DIDN\"T spend on his business. Bob is a direct competitor... he has receipts of $500K and costs of $400K...so he pays taxes on $100K... and say the difference in cost is because he is investing $100K to grow his business... See my point.. PERSONAL income tax is based on business income AFTER deductions... PERSONAL INCOME is money NOT spent on business... Obviously higher taxes takes money out of the economy... but we NEED the money to prevent social security from going bankrupt. WHY NOT TAX THE RICH? Overall, I don\'t think KERRY\'s strategy goes far enough... NOT only should we role back Bush\'s tax cut for the top 2%.... but we should INCREASE the tax rate further with a progressive increase starting with those that make $200K... so that a guy making $1million pays about 10-15% MORE than a guy that makes $50K.... THAT WOULD HELP THE MIDDLE CLASS....Bush\'s tax cut for the top 2% cost the US govt $100 billion per year. I am tired of treating a millionaire as our equal... they AREN\"T our equals... that is why they make a lot more money than most of us... SO WHY NOT TAX THEM MORE?... esp. since its on their personal income, which is money they didn\'t spend on their business....because if they spend it on \'jobs\' then they wouldn\'t have to pay taxes on it...
No, what they will cut is OUR social security... social security is what WE are paying into and WE are supposed to get what we pay for... However, instead of having a 2.5 trillion projected surplus, which could have saved social security, we now have a 3.5 trillion projected deficit.. and social security will have to be CUT so that the rich can have a tax cut today. and they will force US to retire at 70 instead of 65 like it is now... so either we have to work until 70.. or the rich can pay more tax... why are you and them so anxious to give up your social security pension benefits so some rich guys can buy a higher model mercedes?
the fact of the matter is, that \"rich guy\" didnt just luck out and stumble upon a few million dollars one day. im by no means rich at all, far from it, but if you can imagine working hard everyday of your entire life to get ahead, and then some bum on the corner says you should pay more taxes than everyone else because youve EARNED the right to a better life, does it really sound fair? everyone should be taxed equally. whatever the % may be, the rich are still paying more, relative to the rest of the population.
its so pathetic that you defend rich frickn millionaires from paying 10% more than a poor familiy of 4 on $30K....and that you will cut the govt benefits on 100000000 people who will retire... most of whom won\'t even LIVE to 70 years old even though they have to PAY FOR IT....just so 10000 rich men don\'t have to pay 10% more.... THAT AIN\"T BEING FAIR... that IS SREWING THE WORKER FOR A TAX CUT FOR THE RICH... they are gonna cut YOUR govt benefit.. social security... which you pay for on each check... they are gonna raise the age to 70... so that most of you will die before you get what you paid for.... just to avoid raising the tax rate on the rich by a few percentage points. I am not against rich people... I am an accountant...I do their taxes. I have helped rich people expatriate to legally avoid paying taxes I have worked on clients related to politicians who got big guaranteed money contracts from the govt. I have prepared tax returns for numerous business and I see how they buy mercedes and get a tax deduction for the costs, while most can\'t deduct the cost of their cars... I know the scoops brah... I do there tax returns for them, I help them in tax planning to make sure they pay as little as possible, I know the loopholes, and I get them the tax breaks... you don\'t. I can assure you that rich people don\'t suffer at all... while I know lower middle class shmucks that can\'t even afford to take their kids to disneyland don\'t get the same breaks as the rich... in other words, its system has GREAT ADVANTAGES for the wealthy which allows them way more loopholes than the average man gets... and the more money you have, the more loopholes you can afford... that is how it works... in fact, I am getting rich telling rich people how to pay less than YOU... in fact, you could raise the rate 10% and it still won\'t eliminate the ADVANTAGE the rich have because of the effect of the loopholes they get. THEY, the rich people, have made their money in the American market.... they make their fortunes here.... and I think that since they have taken advantage of the market and became rich.. that they can spend a bit more to balance the budget. You are another one that wants a flat tax. That isn\'t what we have. Kerry and Bush don\'t support it.... tomorrow, if you ejaculate in the wrong girl who don\'t want to work and wants a kid.... you may end up with a kid and a wife and you will need money just to feed and shelter them.... so the govt seeks to give people a break, esp. families under 30K..... that is no crime.. it makes sense... not even the MOST conservative people want to raise taxes on the poor... even Gilligans stupid link gives exceptions to the poor... apparently, you guys have no compassion at all... and have what I call \'poor envy\'... Gilligan gets upset that old people who live on $600 month and worked hard every day of their lives get free flu shot on medicare, even though they paid for this benefit by their medicare taxes..because gilligan has to pay $20... what kind of crap is that? gilligan is a kid with no honor. where is the honor in saying a family of four under 30K should pay more in taxes so that a rich guy gets a tax cut so he can trade in his old mercedes for a new convertible model? fricken losers... dishonorable losers... pot has corrupted your minds and you sick friknloser should quit... This shit is just NOT tolerated. You\'ve been temporarily banned due to your lack of respect for others here at the City. If you\'re not into getting stoned, then go to a true political site with forums and have at it there. *RMJL
Raising the age of retire to 70 years old in order to avoid raising the tax on the richest 2% of the nation is UNFAIR... Many men will not even live that long. Many average men will have to work to the day they DIE and they will pay social security taxes but will receive NOTHING... yet, given the choice of raising the tax rate on Forbes, Heinze, and Bill Gates so that we can keep the retirement age at 65 so that the AVERAGE man can get some more of the social security benefit that he paid for... or lowering the tax rate on Forbes, Heinze, and Bill Gates and thus to pay for this tax cut, we will have to raise the age of retirement to 70 so that most will die and not get ANY beneifts... that is frickn stupider that sh*T....
dude, you\'re an idiot NO NAME CALLING!!!! *RMJL... you don\'t know the \'fact of the matter\' ... you support giving a tax cut to bill gates and to pay for it you want to give up YOUR social security until your 70 and you might even die before you reach 70, yet you paid for it... frickin idiot. why not just send money directly to bill gates? your Bullshit moral system says that Bill gates should pay the same rate as some unemployed mother... so why don\'t you personally cut bill gates a check for whatever you can afford to give to help him with the moral dilema? why not create a 501(c)3 charity called \'alms for the rich\' with the motto, \'its unfair that Bill Gates pays more taxes than me\'? and you can tatoo a frickn L on your forehead. (hahahhahahaaaa that is a hilarious cut on your silly moral system.. weak morals for weak people brah) Weak people tend to argue their points in a very angry fashion with no self-control.*RMJL Dont you realize that Bill fricken Gates DON\"T NEED YOUR MONEY... we gave him a tax cut and in the process we caused social sec to be bankrupt.. and now we have to raise the age of retirement to 67-70 years old for other 98% of us.... to pay for Bill Gates tax cut. he will live just fine without your tax cut... he won\'t cry... he won\'t bitch... he won\'t moan... he will live in the lap of luxory... but you will have paid thousands of dollars into social security... and you will not be able to collect until your 70 years old, yet you are expected to die at about 73....
I believe the average american pays in 300,000 dollars in social security and gets out 100,000. Social Security was a pyramid scheme that was destined to fail. I realized a long time ago that I wasn\'t going to be getting it. If your just now figuring that out..I feel sorry for you. They can make cuts to the government to pay for Social Security..it wouldn\'t be that hard. But no..you are determined to make the upper class your slaves. You want bill gates a man who in reality created millions of jobs...to pay more..just because he succeeded. and stop flaming people on the boards, just because adam has morals and you don\'t doesn\'t give you the right to call him names.
I believe Social Security should not be cut. It should be funded by the younger worker to help pay for the older generation, after all, when they were young they paid into it. I work helping poor people. I see how much income they get and if it weren\'t for the measly SS check they wouldn\'t have much! Yes, I said measly because you do get back an amount that is relative to the amount you put in. One thing which could be looked at is that there is a high percentage of older people who don\'t need this money! They have invested well and worked hard and have a retirement plan and do not need the $500 - $1000 SS pays them each month and perhaps this money should be allocated to the needy. Oh, now I know a lot of you will scream, \"They paid into it, they should get their money back!\" or something to that effect BUT are we not living in a society! Isn\'t the goal the betterment of all people? People need to stop saying \"Mine, Mine, Mine\". One more thing - how about instead of making rich people or corporations pay more taxes, let\'s make them pay the taxes they should have to! What I mean is - close the loopholes! The poor man doesn\'t get any loopholes! The law is written, it should be followed! Instead, the people with money hire another person to figure out how not to obey those laws! PLEASE! That is GREED! In the boom years of the 1950\'s, corporations paid 35% of all tax revenue collected by the US government! Now it\'s down to 6%!!! WHY? Because they find loopholes! SO, instead of increasing the taxes, close the loopholes! It will have the same effect!