The 99% is a myth, but there is a 75%!

Discussion in 'What's On Your Mind?' started by Mike, Feb 27, 2012.

  1. Mike

    Mike Founding Member Coach

    Get that mythical 99% out of the way, the 75% is going to be voting ...

    Washington Free Beacon: Poll: Vast Majority of Likely Voters Think Rich Already Pay Their Fair Share

    & from the horse's mouth ...

    The Hill: Hill Poll: Likely voters prefer lower individual, business tax rates

    Only 4% agree with the Obamanation of of increasing the top rate to 40%.
  2. Lisa Simeone

    Lisa Simeone Original Member

    And other polls have found exactly the opposite. It's all in how you word the question.
  3. Sunny Goth

    Sunny Goth Original Member Coach

  4. Mike

    Mike Founding Member Coach

    Show me the polls, especially ones that support the mythical 99%. :D
  5. Lisa Simeone

    Lisa Simeone Original Member

    "We are the 99%" is a slogan, not a political dissertation.

    Nevertheless, here are some other poll numbers:
  6. Mike

    Mike Founding Member Coach

    I'd suggest you actually do a bit of analysis on what you posted, Lisa. When the polls are vague (tax the rich, soak the rich, etc.), people are all for it . When they get to specifics (as in the recent poll that asked specifically about a 40% federal rate for the wealthy), they're not so hot about it all.

    It's also amusing that while your link laments that the wealthiest pay an average of 18%, they neglect to mention that 50% of the popoulation (which includes the lazy & the worthless as well as those less fortunate than some of us) pay nothing at all.

    Over the long run, taxes and government benefits can only be generated out of productive sectors of the economy. Soaking them for more money isn't going to work, unless you want to end up like Merrie Olde England -- broke.

    And those 91% tax rates of the 50's -- mostly myth. Hardly anybody ever paid them. Anyone at that level of wealth with half a brain put his investments in municipal bonds or structured them for long-term gains.
  7. Lisa Simeone

    Lisa Simeone Original Member

    This is nonsense -- "pay nothing at all." These people pay sales tax out the wazoo, also tax on public transportation, which most of them take because they can't afford a car, or gas taxes on those who can, payroll taxes on their puny incomes -- like my Cameroonian friend who's working his (expletive deleted) off for less than minimum wage and getting cheated almost every paycheck to boot by his unscrupulous mainstream corporate employer -- as well as state and local taxes. There are more taxes in the mix than simply federal income tax, which is what the "poor people pay no taxes" meme is all about.
  8. RB

    RB Founding Member

    I pay all the taxes you mention on top of Federal Income Tax. I don't know what my effective tax rate is but I know it is much higher than what is commonly stated.

    This country needs a flat tax with no loopholes.
  9. Mike

    Mike Founding Member Coach

    Sales tax (typically 6-8% and often not charged on food/clothing or rebated) is chickenfeed in the greater scheme of things.

    But then there are exceptions & kickbacks. Here in MN there is no sales tax on food or clothing, and real estate tax credits get paid back to the renters based on income or lack thereof. Many/most states that do charge sales tax on fool & clothing have kickbacks to compensate for basic necessities.

    Sorry, but a large chunk of the population is hardly paying its way. Meanwhile, I have to cough up around 50% of every pay raise to subsidize them.
  10. Mike

    Mike Founding Member Coach

    Screw the income tax completely. A value-added tax on transactions would kick this economy into high gear. Unfortunately that would also send the poor-vs-rich whine into high gear.
  11. RB

    RB Founding Member

    I think a VAT could have a chilling effect on commerce. People would put off descretionary spending, try to buy cheaper products instead of the more expensive items and so forth.

    A simple flat tax applied equally to all would in my mind be the better scheme.
  12. Mike

    Mike Founding Member Coach

    Quite the opposite -- a VAT in the absence of punitive income taxes would encourage investment & job creation.

    A "simple flat tax" would be better than nothing, but Congress doesn't understand "simple".
  13. Mike

    Mike Founding Member Coach

    And on top of that, most people don't save -- they'll spend it all no matter what.
  14. RB

    RB Founding Member

    We agree on Congress but I would support a true flat tax over a VAT.
  15. Lisa Simeone

    Lisa Simeone Original Member

    “Life is a pill which none of us can bear to swallow without gilding; yet for the poor we delight in stripping it still barer.”
    -Samuel Johnson
  16. Frank

    Frank Original Member

    Congress doesn't understand anything that isn't a campaign contribution aka kickback.
  17. Lisa Simeone

    Lisa Simeone Original Member

    4 Ways the Poor Get Screwed That Everyone Takes for Granted

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