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Forums - General - If you represented the wealthy 1% of wage earners in the US

All spending helps the economy, as it provides jobs and taxation revenue.



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TheRealMafoo said:
Soleron said:
40%. And we shouldn't be able to dictate what the money is spent on unless everyone has that right equally.

 

I always question this. I know there are fundamental problems with this thought process, but I find it odd that people who only consume the money, get a say into where it goes.

One thing that I think would be nice, is when you pay your taxes, you get to select what program you want your money to go to. Once a program is fully funded, you don't get to select that program. You have to select from the unfunded ones.

All the money would go to the same place in the end, but government would get to see what programs people are most willing to pay for (so what ones to cut first when need be).

I get your point - certainly it would be great if the the government were held more accountable in this way. But people are, in general, stupid and easily swayed by advertising campaigns and misleading language. The programs that 'sound good' would be funded at the expense of those which the country really needs - for example, basic science would be even more underfunded than present, and welfare like subsidies and benefits would be increased to unreasonable and even damaging levels.

No, I think the current, indirect say on spending via elections works fine, except that it needs to be proportional representation rather than FPTP.

 



mrstickball said:
If I was in the 1% I would want to be taxed the same as everyone else.

The issue that we have is that there are just too many loopholes that give wealthier people a much easier way to avoid taxes. Do you think that a poor person (or lower/middle class) has a good accountant that can fudge the numbers? Unlikely. Yet at the same time, I don't think it's fair to put a bigger burden on those that actually earned to be in the top 1%.

I say tax them all the same, but actually TAX them. Not give them special loopholes via a swiss account. Do you think Bill Gates actually pays 40% of his yearly pay in taxes?

If 1% of Americans control 90% of the wealth, and make 90% of the money, than they should be taxed for 90% of nationwide taxes. Anything more, or less, is unfair.

Simplify the tax code, and use a flat tax that is non-negotiable. No way to weasel a tax break, or report a loss. If you make $4k, $40k, or $400k a year, pay 10% of it. And make it into such a way to where the taxes are paid involuntarily to avoid accountants fudging the numbers.

I agree 100% with you.  The loopholes exist in the tax code so you can't blame the taxpayers for using those loopholes.  Instead we should be rewriting the actual laws to eliminate the loopholes.  Everyone always seems to blame the elite wealthy of the country for getting tax breaks, but how can you blame them for legally keeping more of their money?  It would be like getting angry at people for using coupons at grocery stores.

As for the flat tax, it's definitely needed.  Having variable tax rates by income basically creates a dis-incentive to working harder.

 



You are correct, Bronco.

Again, the issue with tax is that it does disadvantage poorer and lower-class citizens, because they rarely are equipped, and know what their tax breaks, and advantages are, so they get screwed. Even if they pay 'less' under a progressive tax system, they pay more because they have less leeway with breaks.

Likewise, rich know what to do, and do it. It's easy for me as a middle-class person to write off tons of expenses, because it's available. Likewise, rich can do even more. Eliminating loopholes, and ensuring that tax evasion is far less prevelant (by having a system that isn't voluntary like it is) would eleminate fraud, and those that fail to pay - which costs everyone more money. Who do you thinks benefits the least from tax fraud? Poor people, since they have no idea how to do it.



Back from the dead, I'm afraid.

If I can get free and good quality education, healthcare and law enforcement I'd be willing to pay 40% of my income...



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lightbleeder said:
If I can get free and good quality education, healthcare and law enforcement I'd be willing to pay 40% of my income...

 

If you pay 40% of your income for it, it's not free. The idea that something... anything... is provided for you free of charge, is a problem.

Why a large percentage of this country is provided services they did not pay for, someone did.