CNN: Most Americans say tax system favors wealthy

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http://politicalticker.blogs.cnn.com/20 ... ?hpt=hp_t1

Even half of Republicans are aboard this train.

daddy warbucks knows which side his bread is buttered on. or as leona helmsley tartly observed, "only the little people pay taxes."

That was misleading.

Everything favors the rich.

It is Good to be Rich.

ruveyn

[youtube]http://www.youtube.com/watch?v=td9i6-oa4Kw[/youtube]

Is that supposed to be surprising?

Snapcap I am happy to see that your a pro wrestling fan

America's tax system obviously does favor the wealthy.

I always thought that America would be better off with a flat rate tax system that taxes any and all forms of monetary income. Sounds fair, but I don't know how practical it is.

Tax on income is the problem in itself.

Its fine to tax purchases since that actively involves the individual in the tax paying process.

But income? Thats really the same as taxing your ability to breathe since your income is what feeds you.


What should happen is a massive raise in luxury good taxes. A $1m home is a luxury. A yacht is a luxury. Jewelry is a luxury.

Food, housing,clothing, medical items should either be tax free or have a minimal (1%? oh the irony) tax rate. Those are the bare essentials of living.

The problem we face now is the very wealthy having purchased too many privileges from congress and 'lobbied' too many items that actively prevent the rise of competition on their money making industries. Go ahead and try to launch a small business to compete with Monsanto or any pharma company... the laws are so abrasive you are better off taking your money to another country.

The rich don't need to be taxed more in %..they need to be forced to reinvest a high % into the economy rather than tax them out of it (the congress then steals that money anyway).

Fact: CNN polls are pointless
Fact: Americans are stupid
Fact: Rich pay more taxes

I would ask for a source but there would be as many saying your right as saying you are wrong. For the people that make a shitton of money they have off shore bank accounts

Your first 2 I agree with. But the second one might be more correct at people are stupid

http://www.ntu.org/tax-basics/who-pays- ... taxes.html
The rich do pay most of the taxes.

that conveniently ignores the fact that for the working class, a higher percentage of their individual income goes to paying federal/state/local taxes, than is the case for daddy warbucks [with his tax avoidance team of legal eagles], for whom a very small percentage of his total income goes to taxes. warren buffet DOES pay a lower tax rate [15%, primarily capital gains] than his secretary [28%, primarily income]. somebody kindly tell me, what justice is there in capital gains being taxed at half the rate of income? and kindly omit the "trickle down" nonsense.

A lot of people look at tax brackets and say, "Well, that's not fair" But the money they have makes them so much more. Say you had a million dollars invested in a mutual fund that was going to increase by 5% at the end of the year. That's $50,000, which is more than most individuals make in a year!

Now I wouldn't think this was so bad, but wealthy have gained pretty much all of the the income gains since '08, making the playing field very uneven, and there's no sign it's going to let down. It's just out of control.

Last edited by snapcap on 19 Apr 2012, 9:05 pm, edited 1 time in total.

QFT+1. raise the capital gains tax to the same level as that for ordinary [wage/salary] income, for active traders and for people with more than 6 figures net income from investments. but what the repubs want instead, is the helmsley rule, for just the poor people to have to pay ALL the taxes instead of the wealthy paying ANY of their fair share, like what buffet suggested. talk about squeezing blood from a turnip.