Forum Post: Tax the rich? Screw the rich.
Posted 12 years ago on Nov. 23, 2011, 2:04 a.m. EST by leavethecities
(318)
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Tax the rich because they have been screwing us poor. You can call it the screw the rich tax. So unless you GET rid of all cronism and pay back the poor how we were screwed ... Tax the rich, why? Because it is time for them to get screwed twice as much as they did it to us....
Corporate profits have been partially subsidized with federal, state, and local revenue. This benefit has been hoarded at the top. Business managers make up the largest group of one percent club pigs. Plus 40% of the market is owned by the top 1%. Their record territory dividends have been partially subsidized by federal, state, and local revenue. The benefits have not been shared proportionally with the little guy. The lopsided division of growth across quintiles proves it. The highest percentile has grown more than 10 times faster than the middle percentile over the last 30 years. This is true EVEN AFTER taxes. When you account for inflation and the actual cost of living (tied to record high profits in energy, finance, and healthcare), the middle class have actually lost relative buying power while the top 1% have drastically increased their income and bottom line wealth. In 1976 (when their taxes were much higher), the top one percent reaped 9 percent of all private income and held less than 20 percent of all private wealth in America. Now, they reap 21 percent of all private income and hold 40 percent of all private wealth. Meanwhile, the lower majority (those who are still employed) are working more hours and have less to show for it. Also, small business creates more jobs dollar for dollar and shares more revenue with the little guy than big business. And god damn it. When I threw out the figure of $250,000, I was referring to personal income. Not business revenue.
RAISE THOSE GOD DAMN TAXES ON THE RICH!
I prefer to get rid of cronism which I think is at the root of the problem.. but if they cant stop screwing us it is time to screw them.
I don't think the solution is to raise taxes on the rich or anyone else. How about taxing more than 30% of the entire population. 70% of the American population does not pay taxes for one reason or another, change those loop holes and you will see change.
That's not true. I don't know where you got your statistics but they are not even in the correct universe.
When you account for all Federal, State, and Local taxes and fees, the lowest quintile actually pays about the same rate overall (as a percentage of income) as the top quintile.
I suggest you read the Treasury Department report that is very clear on who is and who isn't paying taxes these days. Additionally, they point out that the top 1% is paying more in taxes since the Bush tax cuts were put in place.
If you're referring to the PERCENTAGE of OVERALL taxes paid by any particular group, it's a terribly misleading statistic. The rich pay a larger PERCENTAGE of OVERALL taxes now than 10 years ago because they have a larger PERCENTAGE of INCOME now than 10 years ago. That statistic you refer to is one of the most misleading in the history of propaganda.
Like I said, when you account for all FEDERAL, STATE, and LOCAL taxes and fees, the lowest quintile actually pays about the same rate (as a percentage of income) as the top quintile.
Meanwhile, the richest one percent concentrate more wealth:
According to the Social Security Administration, 50 percent of U.S. workers made less than $26,364 in 2010. In addition, those making less than $200,000, or 99 percent of Americans (actually more like 98%), saw their earnings fall by $4.5 billion collectively.
The sobering numbers were a far cry from what was going on for the richest one percent of Americans.
The incomes of the top one percent of the wage scale in the U.S. rose in 2010; and their collective wage earnings jumped by $120 billion. In addition, those earning at least $1 million a year in wages, which is roughly 93,000 Americans, reported payroll income jumped 22 percent from 2009.
Overall, the economy has shed 5.2 million jobs since the start of the Great Recession in 2007. It’s the worst economic downturn since the Great Depression in the 1930’s.
Greed kills. It will be our downfall.
Loopholes ia. a form of Cronism.
November 30th worldwide action will be? Central Asia
Awesome!
Or you know... work to become rich?
well it must be one of those what did i do with my life moments, or is it like a movie and you are going to find your old sweetheart
I gave you two choices get rid of crony capitalis or have a screw the rich tax, i am working so what is your point.
I completely agree and disagree with this. Wait a minute, I take that back. This time I only agree with you. (-;
Taxing the rich will hardly fix this country at this point. Is it not obvious to the rest of you by now that without massive reform to all three branches of the government and the elimination of all laws passed that eroded our bill of rights down to a nub, we are headed for certain social collapse. Taxing the rich will hardly fix anything. Nobody out in the streets will notice. We are doomed without reform. Massive reform. We need to demand that the bill of rights be honored. Why are people so shocked at the police brutality? Didn’t surprise me. I saw it coming and it will only get worse. We are doomed. Nothing can save us.