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Forum Post: The 99% would be SOL

Posted 1 year ago on May 31, 2012, 12:33 p.m. EST by tedscrat70 (-35)
This content is user submitted and not an official statement

If the 1% were to just go away; fall off the earth, whatever, how would the 99% come together to bring the nation on the road to recovery? Considering that the top 1% pay 36.73% of the taxes (and the 1% has an AGI threshold of only 343,000 dollars), where would the money come from, or would the government actually have to cut back on its spending? statistics based on the National Taxpayers Union 2009 data

7 Comments

7 Comments


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[-] 3 points by MattLHolck (16833) from San Diego, CA 1 year ago

they would have to figure out how to distribute all that inherited property

[-] 2 points by VQkag2 (16478) 1 year ago

Useless fantasy!

[-] -1 points by tedscrat70 (-35) 1 year ago

Exactly, the 1% carry more of the tax load than any other group, and they are not going anywhere. They cannot be treated as the enemy. Wiping out all tax loopholes would help to, hopefully, remove the perceived animosity

[-] 2 points by VQkag2 (16478) 1 year ago

I don't meet anyone who hates richpeople because they're rich! I do hear lotsa people seeking redress of the unfair system the rich have created to help themselves and hurt the rest of us.

[-] 1 points by jph (2652) 1 year ago

So the 1% actually DO something for their capital gains? NO not really, it is easy to make money when you have money, and a system that is staked in your favor.

Every 1% operation that does anything of use, is operated by workers, those workers will now be running those operations, and the 'profits' will be shared more equally among them. That income will be spent into our new 99% economy, instead of piled up in giant vaults in the basement of Daddywarbucks place. See removing the leeches from the system makes the system actual function for all, not just the greedy cheaters.

[-] 0 points by tedscrat70 (-35) 1 year ago

The value of stocks and shares of a company are part of what funds a company, it is a way to pump more money into the company to help it grow.
There will be no "fairness" of profit sharing, if I am understanding your sense of the word. But there is ample opportunity for profit sharing among a number of companies (such as the one I work for) There will be people who have more and will earn more than others. I know of no way around that except use the profit and money as an incentive to work more. The alternative would be to limit one person's income to boost another person's. That doesn't sound fair to me. If the tax loopholes are removed and everyone pays an equal percentage, then that will be about as fair as I would like to see it.

[-] 1 points by geo (2638) from Concord, NC 1 year ago

Jay Leno is looking for more comedy writers... you should apply.