Why Aren't The Rich Paying 50% in Taxes?

[Jim]

Why Aren't The Rich Paying 50% in Taxes?

 
]<a href="http://www.youtube.com/v/1auo-HQk-Tk" target="_blank">http://www.youtube.com/v/1auo-HQk-Tk</a>]
 
 

[duke_john]

It's hilarious that these uber-wealthy folks hire an army of tax experts to minimize their liabilities.

They can contribute all they want into the system, yet choose to pay as little as they can. 

[hoosier_daddy]

I read that the 400 richest families in this country own a higher percentage of the wealth in this country than the bottom 50% combined.....we are on our way to being a country of the haves and have nots, with way more on the have not side of that see-saw....

[lakitss]

Brilliant plan: penalize the exceptional earners for using a system that everyone is a part of. Should be a real motivator for us to earn more so it can be taken away.

A real plus!

Thanks Barry.

socialist prick.

[sweetwater5s9]

It is difficult to get much simpler than a flat tax, a single flat rate that all taxpayers pay on their taxable income.

There are many benefits to a flat tax rate. Efficiency is probably the most compelling.  However, there are some very real, not so obvious, consequences to making such a dramatic change in our tax system. The first would be the almost complete dissolution of the IRS.

Then there are entire companies that are devoted to dealing with taxes. Additionally, we have tax attorneys. And I'm sure there are many others. All these people would lose their jobs with the stroke of the President's pen when he signed such a tax bill into law.

Basically, we suffer from something like "tax system inertia." It is a difficult and painful process to go from a complicated, wasteful tax system like the one we have now, to a quick, clean and efficient system overnight. It would be almost analogous to switching from an oil-based economy to a hydrogen based economy in the same amount of time.
 
Perhaps, the best answer is to ease into the system gradually.
 
America’s biggest fiscal challenge is excessive government spending.  But the corrupt and punitive internal revenue code is second on the list of fiscal problems.

There are two big hurdles that must be overcome to achieve tax reform. The first obstacle is that the class-warfare crowd wants the tax code to penalize success with high tax rates.

The second obstacle, which is more of an inside-the-beltway issue, is that the current tax system is very rewarding for the iron triangle of lobbyists, politicians, and bureaucrats (or maybe iron rectangle if we include the tax preparation industry).
 
A flat tax for these folks would be like kryptonite for Superman. But more than two dozen nations around the world have implemented a flat tax, so hope springs eternal.
 
This would change the tax system from a progressive to a proportional one. Along with changing the idea of different brackets, they would eliminate all loopholes and deductions in the tax code.
 
The American people want tax reform, but they don’t want more of their money going to Washington. And most Republican politicians have wisely pledged not to support legislation that increases the overall tax burden.
 
There is no doubt that a flat tax would make paying income tax much simpler, and that in itself will garner the idea a good deal of support.
 
 
http://search.yahoo.com/search;_ylt=A0oG7kRl2qJN6ToAA91XNyoA?ei=UTF-8&fr=ysp&p=flat+tax+pros+and+cons&rs=0&fr2=rs-top

[hoosier_daddy]

yeah, what a penalty!!  they only get to keep 605 grand out of a million after taxes instead of 650 grand.  how will they get by without that extra 4.5% the bush tax cuts provided (if you don't count the other tax cuts for the rick passed later by bush concerning capital gains, dividends earnings and estate taxes).....we are IN DEFICIT, BITCH.  if we raise revenues on the rich and close some huge tax breaks for hugely profitable businesses we don't have to fuck over seniors, poor kids and the sick.  get it?

[aesopsfable]

Flat Tax, Flat tax, no deductions, no IRS .

[hoosier_daddy]

a flat tax only works in the fevered minds of the delusional and retarded.  bush cut taxes for the rich by 4.5% and it costs about 70 billion dollars a year in revenue.  the rate right now is 35%.....tell me what flat tax rate you have in mind?  30% for everyone?  well, then take another 70 billion a year off the revenue from the rich, and add whatever more the middle class and working poor have to pay to get to 30%...is that what you want- make the rich pay less so everybody else can pay more?  and you call that fair?

[aesopsfable]

Rich or poor, a flat tax is the most fair tax system, everyone pays the same. 15% percent is 15% whether rich or poor.

[aesopsfable]

The Problem isn't with the rich, it with the not so rich that don't pay any taxes at all hodaddy you dumbfunkenassholepeckerhead.

[sweetwater5s9]

a flat tax only works in the fevered minds of the delusional and retarded
 
 

 
 

[hoosier_daddy]

you are an idiot, of course.  90% of the wealth is in the hands of about 5-10% of the people.  get it?  you could tax everybody at 100% that is not in that upper 10% and still only get a small percentage of the revenue you need to run this country.  you really don't seem to have a clue about how math works.