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  1. #1
    Emperor/Dictator kyuuei's Avatar
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    Default Thoughts on Upper-Income tax breaks?

    It's reported on several places, like this one:

    http://www.huffingtonpost.com/2011/1...n_1011601.html

    That essentially, the US Treasury would absorb $72 Billion annually or something like that every year if they just stopped giving the upper 5% of America's wealth the tax breaks they currently have.

    I'm not an expert on anything when it comes to this sort of thing.. but I do know that I'm poor and I'd still be willing to give up at least 1 year of tax returns entirely if it meant that our country got out of debt, schools got the upgrades they desperately need, and healthcare could become available at least to the elderly and minors.

    would something like this really work? Is it just as simple as forgoing tax breaks?
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  2. #2
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    That much money could be made simply by taking otherwise small amounts of money from the super rich? Hell I'm all for that. That $72 billion could go to job creation and better infrastructure of the economy; I highly doubt the super rich would willingly spend that kind of money on anything that isn't mansions or sports cars. Sadly though, I'm not sure if it ever will happen, especially if we have a conservative president come 2012.

  3. #3
    Certified Sausage Smoker Elfboy's Avatar
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    if people want the government to be taking so much money, why don't they just donate on the government's website? anyone can do it
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    Certified Sausage Smoker Elfboy's Avatar
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    taking more money from the rich only encourages them to move their assets to non domestic locations and do business where they are appreciated. keep the productive people happy and you will have a prosperous and productive country
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    Senior Member captain curmudgeon's Avatar
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    ^ Very true. It did work wonderfully for our last conservative president, didn't it?

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    how about bringing back the tariffs with a vengeance. in order to sell products to us they have to pay a substantial and they would have to stay in the us to actually make that profit back.

    maybe also reducing taxes on them to a small amount, whatever the 3rd worlders are charging.
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  7. #7
    Emperor/Dictator kyuuei's Avatar
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    Quote Originally Posted by Elfboy View Post
    taking more money from the rich only encourages them to move their assets to non domestic locations and do business where they are appreciated. keep the productive people happy and you will have a prosperous and productive country
    I feel that this is where more patriotic themes come into play.. Americans rallying up to buy American and use American may not only detract from the appeal via peer pressure of leaving.. but also unite citizens. But I think that may be a bit too idealistic on my part.

    At the end of the day though, I think we all should contribute.. I think less tax breaks, or lower tax returns, may just be essential for everyone, not just the rich. I just think the rich have a lot already, and although I respect that they built it themselves... having a lot means taking on a lot more responsibility. That's the way society is..

    Also, it could be spun on a more positive note for the companies. "We contributed x amount of money and we were involved in paying off 2% of the nation's debt alone!" The companies and the rich themselves could 'show off' patriotic tones to the citizens and encourage them to do the same.
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    Quote Originally Posted by Elfboy View Post
    if people want the government to be taking so much money, why don't they just donate on the government's website? anyone can do it
    Nonsense. Unilateral sacrifice would not address the big issue of the privileged not paying their fair share for benefits they receive. Why should fairness be optional?

    Quote Originally Posted by Elfboy View Post
    taking more money from the rich only encourages them to move their assets to non domestic locations and do business where they are appreciated. keep the productive people happy and you will have a prosperous and productive country
    We certainly need to coddle them or they will get mad and move their factories off shore, right?

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    Senior Member Tiger Owl's Avatar
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    Scrap the bloated tax code and start over. Treat everyone equally in taxation at a flat rate and cut the hell out of our bloated govt. Curb govt. spending, restrict the handouts and special treatment given to corporations and with the ones that remain give small businesses the same consideration. There should be NO entity deemed too big to be allowed to fail. Including the Fed. Scrap it, hang the criminals and start over. And that is the tip of the iceberg.
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    if you want to see people unite, put the people who created this mess in jail. this would make everyone happy and more inclined to make a effort to fix things.
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