In 1992, the top 400 had aggregate taxable income of $16.9 billion and paid federal taxes of 29.2 percent on that sum. In 2008, the aggregate income of the highest 400 had soared to $90.9 billion — a staggering $227.4 million on average — but the rate paid had fallen to 21.5 percent.
our spending is at 24.5% GDP (give or take)
if we can go to a 1% drop in spending each for five years and get to 19% spending and raise taxes 1% each year for five years an get our Revenues to 20% we'd be balanced....
that would still leave US with almost 20 trillion in accumulated debt to pay off, but world markets are happy to buy our debt
CashCowMoo
posted
There are ways he can volunteer...him and his rich friends to pay more to the government in taxes. Who is stopping him? Close the loopholes and cut off the subsidies. This problem can not be solved or fixed by taxing the rich more.
raybond
posted
Some of the super rich are smart they know that it cannot go on this way much longer. A breakdown is now getting close. Letting America fail is like killing the goose that lays the golden eggs.
T e x
posted
"by taxing the rich more"
LOL! How about them paying at least equally?
CashCowMoo
posted
quote:Originally posted by T e x: "by taxing the rich more"
LOL! How about them paying at least equally?
Thats fine with me. They should not be afforded special tax laws that most of the nation has no idea about, and was crafted behind closed doors.
glassman
posted
OK, here's why the rich should pay more:
When NIH or DARPA funds *research* which leads tothe *devlopment* of a brand new product that people *Invest* in to make *Capital Gains* they get taxed at a lower rate.
That is primarily what drives the US economy now Intellectual Property.
When we talk of taxing the rich? We are talking about people who make movies, produce music, run media empires, play sports, race cars even....
i see no reason to coddle any of them.
Take any major sporting venue. The Nascar Race at Kentucky this past month is good example. How do you get 106,000 fans into a venue and back home again quickly and safely? it's a trick question cuz they failed at kentucky Speedway this year...
France: Kentucky gridlock can't happen again By David Caraviello, NASCAR.COM July 11, 2011 6:15 PM, EDT Save Article Email Article Print Article RSS type size: + -
SPARTA, Ky. -- The mammoth traffic tie-up that marred Saturday night's inaugural Sprint Cup race at Kentucky Speedway -- gridlock so bad that some fans never reached the event -- cannot happen again, NASCAR chairman Brian France said.
Taxpayers pay for that, every penny of it. Nascar is a very wealthy venue, and Nascar cannot make a cent without it.....
there's no reason that eh "poor" people of America can't pay more in taxes too, but remebr every pennthy they pay in taxes is less moeny thay have to pay for the products and sevices the Wealthy people supply.
I have seen a drop in what people are willing or able to pay for the gift products i make. I try to make things that will retail for under 100$ for motehrs day valnetines and weddings right? Well this year, the average price point is down to about 65 from 80$. That is a big difference to me since my expenses are also up just like everybody elses....
CashCowMoo
posted
hey jordan, how is marthas vinyard treatin the nation?
jordanreed
posted
i have no idea...how is this relevant to the thread?..Now you know more about the rich then Warren Buffett, too?....Why don't you read what he had to say?..it makes sense
buckstalker
posted
quote:Originally posted by CashCowMoo:
They should not be afforded special tax laws that most of the nation has no idea about, and was crafted behind closed doors.
And that is exactly what they do, yet you still support them...
I'm confused on how your mind works CCM
CashCowMoo
posted
Support who buck? Republicans? You think Democrats dont do this?
buckstalker
posted
quote:Originally posted by CashCowMoo: Support who buck? Republicans? You think Democrats dont do this?
I never said anything about republicans or democrats...they are both equally guilty
I am talking about the elitists...including but not limited to: Large corporations , ALL politicians both republican and democrat, the media moguls and their talking heads, Judges, Lawyers and frigging Indian Chiefs
Get your freakin head out of the sand and quit defending these scumbags...
and don't make me go back and point out posts of yours where you defend big business, the wealthy or republicans
posted