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"Taxing Work Rather than Wealth."

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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-18-04 04:20 PM
Original message
"Taxing Work Rather than Wealth."
I like this phrase, which I found through this site (EXCELLENT article)

http://maxspeak.org/mt/archives/000937.html

which I found through MotherJones.com.

They aren't waiting to show their claws and we need to be ready to fight this NOW.

How do we combat this?

Link to the Washington Post article referenced in the piece:

http://www.washingtonpost.com/wp-dyn/articles/A58554-2004Nov17.html

Be afraid; be very afraid. But don't let it happen!
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LisaM Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-18-04 04:21 PM
Response to Original message
1. Thanks. I have been trying to remember that quote
and you found it for me. Excellent.
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-18-04 04:32 PM
Response to Reply #1
2. We need to drive the idea home with everything we have got! nt
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Rambis Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-18-04 04:41 PM
Response to Reply #2
4. Kerry was saying we have to reward work not wealth
and not tax the middle class to death. To bad everyone "voted" against that hair brained idea.
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AP Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-18-04 04:41 PM
Response to Original message
3. That was a John Edwards mantra during primaries:
"Lets shift the tax burden off of people who work for a living."

He pointed out that in the last 30 years we have shifted the burden disproportionately on to people who make mostly earned income and off of people who got their income from unearned sources (dividends and cap gains).

We used to tax cap gains and dividends at a flat rate of about 25%. Now that rate is down to a flat rate of 15% (ie, without regard to how much income in total). 15% is almost less than half of what any hard working middle class person pays on their earned income.

Edwards proposed that we have a second tier 25% tax rate on unearned income that started at something like 300K or 500k per year.

It would have meant that the super rich would have paid a higher rate on higher levels of income than they pay now...but because so many super rich people make so much money in that range, it would have helped shift a lot of the tax burden off of people who work for a living.
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stray cat Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-18-04 06:01 PM
Response to Reply #3
5. They should have kept that mantra
and included the Bush Birth Tax.
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SammyWinstonJack Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-18-04 06:06 PM
Response to Reply #3
7. Taxes are only for the little people.
So said Leona Helmsly on her way to prison for, what was that again? Tax evasion?
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Nederland Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-18-04 06:06 PM
Response to Original message
6. Wealth ultimately comes from work
Whether you got your money by stealing it from other people, inheriting it from someone or working hard for it, ultimately the source of all wealth is work so the distinction is irrelevant.
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Zorra Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-18-04 06:26 PM
Response to Original message
8. That would quickly make robbing rich people far more popular than working
Edited on Thu Nov-18-04 06:26 PM by Zorra
for a lot of folks, I can guarantee you that.
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420inTN Donating Member (803 posts) Send PM | Profile | Ignore Thu Nov-18-04 06:41 PM
Response to Original message
9. Not just blue states...
Arkansas
Alabama
Georgia
Kentucky
Mississippi
North Carolina
South Carolina
Virginia
West Virginia

All of the above have State Income tax (I believe). I think that only Southern states that don't have SI taxes are Florida and Tennessee.
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Yupster Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-19-04 12:14 AM
Response to Reply #9
11. Texas has no state
income tax.
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420inTN Donating Member (803 posts) Send PM | Profile | Ignore Fri Nov-19-04 05:25 PM
Response to Reply #11
12. Yes, that was mentioned in the linked article. n/t
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Eric J in MN Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-18-04 06:43 PM
Response to Original message
10. John Edwards used that phrase (nt)
nt
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