Should the rich start paying a 65% Flat Tax, to pay off the defecit, and universal health care?

Question

Any one making over 350,000 dollars a year should have to pay 65% of their income to the govermant, those making more than 1.5 millin a year should pay at a 80% rate, those of us making under 100,000 a year should pay no taxes, and the president and both houses of congress, shoud have to pay 65% of their income to taxes

Answer 1

Yes, that way they couldn't use so many loopholes and actually pay some taxes.

Answer 2

Bad econ 101 because the wealthy will just flee with thier money or shelter it in another location. During the 1970s they had tax rates of 90% on the weathy at times, and they left the country. Great Britian rich and famous never lived in Britian during the 1970s because all thier wealth would be taken by the goverment, and the Untied States was not much better with 70% rates.

A flat tax on all income at 17% will collect more income fairly then a preverted progressive tax system that lawyers, and accountants will game anyways.

Finally, higher taxation discourages work, and discourages risk taking making the econony less effiecent and lowering the long term growth rates of the economy. Even some leftist know about lafferty tax curve that soaking the rich too much means they have less money to give to thier consituancies as handouts.

Soak the rich and watch the money end up in Caymen Islands, or under an matteress, or in cookie jar

Answer 3

Absolutely not. Any tax on income earned by the sweat of your brow is illegal despite the existence of the IRS. You have a right to work and earn a living and the government is not morally entitled to any of it. The fact that they confiscate it anyway doesn't make it right. Let me ask you this. Should you pay to vote? should you pay to breath? should you pay to think your own thoughts? Should you pay to practice your religion or lack thereof? should you pay for the right to a redress of greivances? No? Well then what makes you think that you should be taxed on your life energy just because you exist? The constitution specifically argues against this. Read it sometime you may be suprised at what it actually says. Yes I know that there's an amendment in there establishing the IRS and that congress has the right to lay and collect taxes but the establishment of the IRS directly contradicts the constitution which also says that when this occurs that the contradiction is null and void. Of course the supreme court refuses to hear any cases on this so there you go. The right of congress to lay and collect taxes does exist under the constitution but it also delineates how they do that and they aren't following the rules as they're laid out. Go figure. All of the members of the federal legislature take an oath to preserve protect and defend the constitution of the United States and NONE of them adhere to the oath. They violate it daily and the people are so ignorant that they just keep reelecting them. I guess we really do have exactly the government that we deserve.

Answer 4

no i don't agree. those with 350K jobs would not have incentive to continue making the money. why not work part time and 100K and pay no taxes. i think it would be the same nightmare as we see with public type of asisstance programs that we have now. we place limits on the money people can earn or they will lose their medicaid / monthly income. they do not draw enough income to live / therefore , are always looking for other public assistance programs to pay them. they have no incentive to work even assuming they would be able to.

i do agree both business and individuals need tax breaks , so we can spend money / boost economy. I think you are on the right track ... but keep thinking ! How to structure it. LOL. I'll vote for you then.

I think we should end social security payments / manage our own money. Let them pay out what they have left to those that are in line for it . I'll accept that what I've contributed I won't get / but I should be able to write that amount off against my taxes.

Answer 5

That's idiotic. I'm sorry, but tax rates that high mean that the rich take their money and move to another country. Which means you WONT be getting the 50% that you're getting now.

Higher tax means lower income from that tax, because more people will be fed up with paying it and leave.

Higher taxes means fewer jobs, fewer employers, and that leads to fewer employees with money to pay for their families, which means more people on welfare, which means higher taxes. It's a death spiral.

Answer 6

If it were not for the rich, the people that own the major companies and put so much money into the economy, you would be living in a hut in the woods somewhere!
How do think this country was built...on hand outs?
The rich are to ones that build the cars, the airplanes, skyscrapers, .....so what if they are rich, they worked for it and put 75% of the tax dollars in the coffers !!!
Do a little research in economics!

Answer 7

Should Libs take an economics course and discover that tax REVENUE is going UP, that that a top marginal rate of 65% would almost certainly REDUCE tax revenue, by reducing the tax base?

Answer 8

It's a global economy and your proposals if implemented would lead capital to flee your country.
If that happens you will still not have enough money to finance all your programs and you'll commit economic suicide.
The rates you propose are too extreme and even far above what is common in Scandinavia,one of the highest taxed regions in the world

Answer 9

No.....Guess what?....When you raise taxes like that, they just shelter more money, to avoid it being taxed, and don't spend or invest.
Then we actually collect LESS tax revenues.
The folks making the top 5% of the income in the US pay about 2/3 of the taxes now.

Answer 10

I do not agree I do not think that people that have worked hard to get where they are at and make a very nice living should be punished for it, I think they should have to pay taxes but nothign crazy like that

Answer 11

Fine, then I demand that anyone on welfare or foodstamps have to wear a ID marker around their nexk, if caught without it, immediate execution. If it is a girl and I desire sex with her she MUST put out, after all for the money I am giving in taxes she owes me, owes me large.