http://news.yahoo.com/s/ap/democrats_debate
How much tax could we raise if we taxed at 90% everyone that makes more than 300K a year?
Would it get us out of debt and solve all our problems?
This article also says dems want to tax corporations.. but if you havent figured it out.. all taxes are passed on to the consumers. This is not some capitalist thing.. its just the way it has to be.. a corporatoin has to pay its people to run. so expenses like taxes HAVE to be passed through to you.. the reader.... so ignore the tax wealthy corporations clause and add the phrase.. tax YOU.
2007-12-13 10:56:57 · 7 answers · asked by kent j 3 in Business & Finance ➔ Taxes ➔ United States
Don't forget that we already have progressive taxes in the US. The rich have the highest tax rates. And corporations are already taxed. Dividends from corporations are taxed at the corporate level and again when the stock owners receive them. So...we already tax the rich.
2007-12-13 11:06:43 · answer #1 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
What makes you think that we don't already tax the wealthy? The top 10% of all earners in the use already pay more than 90% of all taxes.
Raising the marginal rate that high would be counter productive as it would drive down the incentive to strive for wealth and actually reduce total collections.
Corporations are already taxed, at higher rates than individuals.
What we DO need to do is get rid of the absurd tax cuts that were given to the wealthy by the current administration and cut the load a bit on the middle class. I earn about $75k a year and the Bush cuts gave me about enough for a case of beer a month. Whoopie do!
2007-12-13 20:31:56 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Once upon a time there were marginal tax rates that high, on people with very high incomes. The rich (read- successful, talented, smart, etc.) all started to move out of the country. The politicians got the message and reduced the rates to something more reasonable.
2007-12-13 22:43:02 · answer #3 · answered by r_kav 4 · 0⤊ 0⤋
Frankly if I were working hard enough to make $300K and I got taxed 90%, I'd look for another job where I could make the same $30K I'd have left under that plan, without having to work nearly as hard.
2007-12-13 21:00:08 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
As much as he is hated and bilified, Bill Clinton had a solution to solve our ever growing deficit by trying to implement a flat tax for everyone at the rate of 17%. Of course all of the rich congress people rejected this idea since it would affect their income. The rich are powerful force in this country and would vegemently be oppossed to the idea. At our current rate, we may become a 3rd world country by the next 10 years and that suits them just fine.
2007-12-13 19:10:34 · answer #5 · answered by Anonymous · 0⤊ 2⤋
In this country you are penalized for success...pay more taxes..for being self sufficient. The poor get free hand outs, sit around all day and cause problems for us that work. Why not tax the poor..their food stamps..health care..etc..Why should we give hand outs to women that are reproducing machines?
If you are responsible and get ahead you are penalized for those that are lazy and bums...does any one have pride!
2007-12-13 21:44:40 · answer #6 · answered by Anonymous · 0⤊ 0⤋
The rich would complain...It may help the financial mess the country is in,
And middle class and poorer people can pay less tax!!!!
2007-12-13 19:01:10 · answer #7 · answered by jalady 6 · 0⤊ 1⤋