so what do you think on raising higher taxes?

Question

everyone who has a kid and/or is married, got a tax cut. The tax increase democrats are passing is the highest in history, and all will suffer. Fact is, any tax increase hurts people with the least amount of money, tax increases don't really hurt rich people, they have plenty. People with little to moderate income are most hurt b/c they are usually barely making ends meet and taking more from them gives them less to save and spend.

Critics of the tax cutes predicted disaster, supporters the opposite, and now supporters have been proven right by more than three years of prosperity.

"The dividend rate would snap back to 39.6% from 15%, the capital gains rate to 20% from 15%, and the top marginal income tax rate to 39.6% from 35%. Marginal and average tax rates for the middle class would also increase, returning to the Clinton-era levies that had driven taxes as a share of GDP to a postwar high of 20.9%. "

"With an anticipated take of $400 billion over five years, the result would be a bigger tax increase than Bill Clinton's in 1993 -- the one that helped cost Democrats control of Congress the following year. "

"Come 2011, many families will be hit by a renewed marriage penalty. Consequently, 23 million Americans will then be hit with an average tax increase of $466. That same year, the child tax credit will be cut in half, costing 31 million Americans an average of $859 in more taxes."

"When the damage is tallied, 115 million working Americans would watch their taxes climb an average of $1,795, with 26 million small business owners being hit more than twice as hard at $3,960. The fact that these are average figures, incidentally, does not change the reality that taxes paid by middle-class families, not just the richest 1 percent, would be scheduled to go up under the Democratic plan."

"Taxpayers won't fare any better under the Senate's budget blueprint...[T]he plan championed by Democratic Senate Budget Committee Chairman Kent Conrad would raise taxes by $2,641 per household over the next ten years."

Tax cuts work. They worked when JFK did it, when Reagan did it, and again when Bush did.

Here's what will happen if they eliminate the tax cut as planned:

... You're a family of four earning $60,000 a year: Your income-tax bill will rise 61% in 2011, from $3,030 to $4,893.

... You're an elderly couple earning $40,000 a year: Your taxes will go up by 156% in 2011, from $583 to $1,489.

... You're a woman: You could be one of the 83 million American women who could see their taxes rise by an average of $2,068.

... You're married: You could be one of the 48 million married couples who will pay an average of $2,899 more under the liberal tax increase.

... You have kids: 42 million families with children will pay an average of $2,181 more in taxes.

... You're a small-business owner: 26 million small-business owners will get a tax bill for an average of $3,960 more than before.

Democrats are socialists in liberal clothing. They want to be sure you keep less than half your money (when you add federal + state + local + sales + property, etc. taxes). The programs they use this money to support are ineffective.

Tax cuts let people keep more of the property they earned.

Fancy is a fabricator
"They [the wealthy] are using 95% of the PUBLIC resources, so they should be paying 95% of taxes" that is utter BS. This has been proven time and time again. Most of the money goes to entitlement programs, which the wealthy do not benefit from. People like Fancy must create fanciful lies because reality doesn't support their belief system, and rather than change, they lie. The rich pay the most and get the least.

The fact is that the effective federal tax rate (taxes as a share of income) has fallen for every income group over the last 20 years EXCEPT those with upper incomes.

For those in the bottom quintile (20 percent of the population), the tax burden has fallen from 8.3 percent in 1981 to 5.3 percent this year.

Those in the middle quintile saw a drop from 21.9 percent to 20 percent.

The other quintiles also saw a decline, except those in the top quintile, who saw an increase in their tax rate from 27.1 percent to 27.4 percent.

YOU FOOL ONCE WE TAX ON THE RICH THEY ARE GOING TO MOVE THEIR BUISNESSES ELSE WERE. THEN THE PEOPLE WORKING ON THOSE BUISNESSES WOULD NOT HAVE NOBODY PAYING THEM. THEN THE ECONOMY WILL GO DOWN

Answer 1

Raising taxes is liberal way of governance. More money for entitlements to buy their way into power. People are sick and tired of it. I know I am. There is a luxury subdivision not far from my home and it is stacked top to bottom with subsidized low income families. I've worked my *** off all of my life to have what I have and I can tell you now I will never ever be able to afford that type of housing, NEVER. When you do all the right things and you see crap like that and know YOU are the one paying for it, it boils your blood. The Dems get in and the first thing they start talking about it raising my taxes to pay for more useless BS programs. I can see the little money they do let me have flying right out of my pocket even as we speak.

Answer 2

Flat tax rate across the board, and do away with the estate tax for good ... why should the more prosperous earners (who benefit least from the "well-fare state") be required to shoulder the bulk of the tax burden?

High earners already pay most of the taxes in this country. And it may just be my social circle, but I don't hear too many stories about lazy "rich" people. In fact, the vast majority of affluent people work quite hard.

Not to take anything away from the hard-working average guy, he may put in 80 or more hours per week, but when is the last time someone stole 40% of his gross wages?

The graduated income tax and estate taxes are a penalty for having achieved success.

Answer 3

You JUST found this out??? The Democrats are known for wanting to raise taxes to fund new (and usually unnecessary) programs. More than one candidate (Hillary especially) has actually talked about a "redistribution of wealth" (anyone recognize the definition of Communism?). Of course this isn't in the best interest of the country or the American people, but unless people stop being SHEEP that are mindlessly led by the media and start actually doing some real research on their own, that's the direction we're headed.

Answer 4

Heres a little tid bit I fail to ever see. City and County Redevelopment Agencies take your property taxes from schools, Police and Fire protection and roads. All the things that your property taxes are paid to provide. RDA's in Ca. are the only branch of Government that can issue tax allocation bonds without voter approval. The tax money that RDA's get come from your income and property taxes and go as free bee's to developers. Any revenue generated from an RDA project goes back to the RDA for more free bee's to the developers. Thus the local and State Governments raise taxes to make up for the short fall. In Ca. RDA's cost will cost tax payers over 56 billion in RDA debt. In Ca. the Democrat Legislation has diverted all the gasoline tax to pet projects and we had to vote in an increase to the sales tax here to make up for it. So it does not surprise me about the Dems plan for a tax increase. Before the election they said they would not raise taxes.

Answer 5

If you want to have better education, roads, health care even prison we need taxes. Want to do it where it hurts the rich more. Then put a fair tax in ie a federal sales tax, five cents on any non-food item. The rich would pay more, we could eliminate an income tax and all would benefit

Answer 6

Im against the raising of any taxes, We as Americans are already taxed way too much it has been proven that when you reduce taxes job growth improved drastically and helps the economy because consumers will spend more and the cycle continues. The raising of taxes is pretty much used to fill the pockets of all these beurocrats with political power.

Answer 7

My husband and I benefitted by the Bush tax cuts and, unless wealthy has been redefined to mean $30,000 a year, we ain't rich.

Answer 8

Brilliant Question. Thank you.

Working People are Doomed!
"Pull up your socks
And grab your koks.
The Democrats are a coming.
And they want your paycheck."

"BACK UNDER THE PORCH BOYS,
SAME GAME!!!!!!!!!!!"

Answer 9

i am really surprised there is someone on yahoo answers with a brain and facts to back it up . Great question.

Answer 10

i appreciate the thorough questions with lots of substance, but these are supposed to be questions, not blogs.

nevertheless, ive read some of this. i agree.