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n2doc Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-09-11 01:35 PM
Original message
"There aren't enough rich to pay for the deficit"
Edited on Sat Apr-09-11 01:43 PM by n2doc
Really?
From 2008:
Top 5% of tax returns
Number of Returns with Positive AGI 6,998,029
Adjusted Gross Income ($ millions) 2,926,701
Income Taxes Paid ($ millions) 605,718


http://www.taxfoundation.org/news/show/250.html
The income of these folks has gone up over the past 3 years. So....
Seems like we could get another 1.2 trillion out of that group. Make the effective rate 60% instead of the present day 20%. Would still leave them with 1.2 trillion. And of course this doesn't include those who "happen" to not make any money after adjustments....

We are in a crisis, you say? Well then, they should be willing to sacrifice for the good of America. The rest could come out of the military budget.

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-09-11 01:38 PM
Response to Original message
1. recommend
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derby378 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-09-11 01:41 PM
Response to Original message
2. It's so much easier...
to bleed a million poor for a buck apiece rather than to hit up a hundred millionaires for $1,000 each. The poor, after all, usually have no recourse when the rich are in charge.
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Zebedeo Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-10-11 06:58 AM
Response to Reply #2
16. Your math is a little shaky
A million poor for a buck apiece yields one milliion dollars.
A hundred millionaires for $1,000 each yields one hundred thousand dollars.
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Fire Walk With Me Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-09-11 01:44 PM
Response to Original message
3. Bush and his wall street friends helped to purposely create this economic disaster.
I say tax them until they're all blue. Then tax them some more.
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Warren Stupidity Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-09-11 02:00 PM
Response to Original message
4. Just rescind the Bush-Obama tax cuts.
Return the income tax rates to what they were in 2000.
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rzemanfl Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-09-11 02:16 PM
Response to Reply #4
6. The Eisenhower rates adjusted for inflation would be even
better.
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The Second Stone Donating Member (603 posts) Send PM | Profile | Ignore Sat Apr-09-11 02:07 PM
Response to Original message
5. Corporations are persons with full rights and need to be
effectively taxed at the same rate as real live persons. We work and pay taxes and corporations reap all the benefits. We are effectively enslaved by corporations. Congressional representatives work for corporations, not us. Taxation without representation is still tyranny. Representation without taxation is tyranny to the oppressed who are still taxed. Token taxes are not the same thing as human beings working the first five months of the year for the corporate state.
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kristopher Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-10-11 06:44 AM
Response to Reply #5
14. You know I'm not sure of that.
And I mean not sure. What if we were to strip them of both their tax liability and their personhood status? It is through the tax code that they manipulate our laws and largely for tax preferences that they need to buy political influence.

Sooner or later all the money that cycles through corporations has to find itself in the hands of real people doesn't it? A real person is far less apt to accumulate the power of a corporation so they can't game the system the same way Exxon can.

I havent thought it quite through, but it seems like buried somewhere in that there is a chance to improve the way things are.
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alfredo Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-09-11 02:18 PM
Response to Original message
7. The good of America is not a consideration with them.
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OHdem10 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-09-11 03:03 PM
Response to Original message
8. This is no excuse for the Rich not to make a serious contribution.
So, since they cannot pay the whole bill we just
excuse them from paying their part.

jI have heard everything now.
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Enthusiast Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-10-11 06:36 AM
Response to Reply #8
13. I'm with you. nt
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liberal life Donating Member (187 posts) Send PM | Profile | Ignore Sat Apr-09-11 03:10 PM
Response to Original message
9. They money went somewhere...into the bank accounts of the filthy rich
I think taxation would work pretty well to get it back

The Real Redistribution of Wealth: Forbes 400 Triple Wealth in 5 years
http://www.squattable.com/blog/birdflip/030911/real-redistribution-wealth-forbes-400-triple-wealth-5-years


http://fucorporatemedia.com/
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WatsonT Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-09-11 03:54 PM
Response to Original message
10. Or . . .
tax corporations heavily with a nice taxbreak based on employees and pay rates.

Such that an employee getting let's say twice the median income level will earn the company the largest tax break and decreasing in either direction. So solidly middle class jobs will be the most beneficial to a company with no benefit to hiring minimum wage or further CEOs.

Force trickle down to work: tax companies that are sitting on funds, reward those that are hiring particularly those that are hiring at decent wages.
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Cleita Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-09-11 04:01 PM
Response to Original message
11. The rich conservatives always try to sell that canard, so they
don't have to pay any taxes. It wouldn't make a difference they say. Too bad I say, because they should pay their fair share regardless and when we have a shrinking middle class to pay taxes, it means more money is being siphoned off the middle and poor classes up to them so they owe more.
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Scuba Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-09-11 06:45 PM
Response to Original message
12. But if we let them keep the money they might create a job someday. n/t
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Obamanaut Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-10-11 06:52 AM
Response to Original message
15. A big step toward solvency would be to stop pouring money into the -istan wells, and
now this new one.

Close the several hundred military sites of various size worldwide and bring home the personnel/families. That would save a pantload of money in lease payments to the host countries, and another pantload in salaries paid to the local civilian workers at those sites.

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theaocp Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-10-11 09:44 AM
Response to Original message
17. Obviously, the pukes will not be on board with this
and the media won't cover it, so what are we left with? Actual-factual dems? Say it with me: hahahahahahahaha! Puh-leeze! :rofl:
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seabeyond Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-10-11 09:45 AM
Response to Original message
18. there are not enough govt programs to pay for it either.... but they are trying
the point is... if cuts in programs increase in revenue, cuts in defense and we are on the way
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-10-11 09:52 AM
Response to Original message
19. Sure there are. Some of our corporate gods and lords have more
money than whole countries.
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rug Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-10-11 10:03 AM
Response to Original message
20. We'll just have to make do with the ones we've got.
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