Wake up and pull your head out of the sand. They pay more taxes per dollar already. Go on the IRS website and do the research. Don't be a hater because someone is more successful than you.
2007-11-16 14:03:44
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answer #1
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answered by Rob 2
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The reason is because the Republican party's constituents are the rich. To keep the money flowing to make themselves rich and to afford their political campaigns they must take less from the rich than what is needed.
In a Capitalistic economy only a progressive income tax will work if you want to avoid deficit spending and at the same time get all the improvements that are needed.
The reason they are rich in the first place is because they took the great majority of the wealth that the working class produced. If they wouldn't have done that, then the workers could afford to pay higher taxes. But then they wouldn't have been rich in the first place. They are selfish and don't want to give anything back.
2007-11-17 06:09:05
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answer #2
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answered by ? 6
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"What is most striking, experts say, is what could happen in coming years. The nation stands on the cusp of the largest transfer of wealth in its history, the $5 trillion to $10 trillion in assets that belong to the generations preceding the baby boomers. A significant share of that wealth could pass untaxed, some economists note, if the estate tax remains so easily circumvented. That could contribute to what several studies show is a growing concentration of wealth among the most prosperous 5 percent of households."
We are returning to the highly regressive income wealth distribution of the late 1920s, with the top 1 percent “earning” (taking) nearly 22 percent of the national income. The United States' wealthiest 1 percent now “receives between 19 and 21.5 percent of the [nation's] annual gross domestic product (GDP)...up from 8 percent in 1980.” This “represents a nearly full recovery of the roughly 22 percent share of the national income the top 1 percent received just prior to the stock market crash of 1929, the depression of the 1930s and the great leveling of class incomes that followed. That same 1 percent today also holds more than 35 percent of all assets and wealth of the country - about $ 417 trillion. They own 51 percent of all stocks and 70 percent of all bonds, own homes worth more than $3 million and have a net worth of $6 million. The bottom 50 percent of households, nearly 60 million families - all working class - in comparison own only 2.5 percent of the country's total assets and wealth" (Jack Rasmus, "The Trillion Dollar Income Shift, Part 1," Z Magazine [February 2007]: 44-49).
The top 1 percent – comprising roughly 1.4 million “tax units” (see Peter Singer, “What Should a Billionaire Give?” New York Times Sunday Magazine, December 17, 2006, p.80) owns more than a third of all U.S. wealth. The bottom HALF possesses a FORTIETH of “the world’s richest nation’s” net worth.
2007-11-16 22:21:07
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answer #3
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answered by Richard V 6
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The rich do pay more taxes but they also use every means to not have to pay any more than they have to. No they don't make too much money and I know if you or I had the opportunity to make a large amount of money we would go for it but then we would say that this was different because we deserved it. Besides most of your Congress men and women are wealthy so do you think they are going to change the tax laws so that the government takes more of their and their friends money.
2007-11-16 22:18:00
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answer #4
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answered by hdean45 6
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Well if someone is filthy sinking rich...like most of the celebrities that make ohhh hell I don't know between 50 million to 500 million per year....then what would be the harm I say.....I mean damn, if I was getting paid that kind of cash...like 200 million a year, hell I wouldn't give a damn, I could still live off 80 million I'm sure....Spoiled *** greedy, rotten rich.... lol The problem is though they set the standard for someone being rich way way too low for tax purposes....It seems to me that they think if you make 100k, then you are rich....Yeah right.....Not in today's society....Hell if you make 100k in NY City, you're homeless...
2007-11-16 22:15:14
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answer #5
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answered by Anonymous
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the republicans have been giving them huge tax breaks since Regan. A person making 60k per year pays a higher percentage of their earnings than a person making a million per yea, this is wrong If a person was able to make this kind of wealth than they should pay their fair share you have more of this nations money so you should pay more taxes
2007-11-16 21:56:59
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answer #6
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answered by Joshua S 3
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They do. The richest 10% of the country pays 80% of all the taxes collected by the U.S. government.
2007-11-16 22:12:06
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answer #7
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answered by Anonymous
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I wouldn't say they make too much. They do pay higher taxes. Many loopholes, however, should be closed.
2007-11-16 21:57:33
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answer #8
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answered by CaesarLives 5
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They will move abroad - and pay no tax at all.
2007-11-16 21:57:07
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answer #9
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answered by Anonymous
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You can never make too much money. Try getting a job.
2007-11-16 21:56:11
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answer #10
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answered by Anonymous
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