RE: :: Joe Biden | "Paying higher taxes a patriotic duty"
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:08:32 AM
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P31W
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Remember Obama believes it's the government's responsibility to provide for the poor so I am not suprised that he gave pentance to chairty (what do you wanna bet those charitable constibutions represented for him "votes" and we not given in private but in public settings so EVERYONE would know)
What shocks me is that if Obama and Joe were true believers of what they preach they would pay income tax on their flat income without taking deductions or exemptions ...... meaning the government got "less" of their money.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:11:51 AM
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earthless
Posts: 6207
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From: where pigeons are wearing sweaters....
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Considering the response my second post received.. how the poster wanted to brush it all off as if I was the GOP or the Bush Presidency myself.. heh.
I thought it would be kosher to post my Op-Ed piece in its entirety:
"We have to all be honest with each other in the fact that the vast majority of those receiving government (our tax money) aid have been doing so for several decades, if not generations.
Welfare and the such were never meant to be cradle to the grave solutions nor should they be. Another issue stems from how some people adhere to the ill standpoint that government is or should be a father figure.
It should not be.
It does not take a village to raise a child properly, it takes a family. But many people would rather give government all of their responsibilities because they seem to think government has the track record to properly do so.
For some in our nation their political reality is that those who become successful are to be reviled and punished with oppressive and confiscatory taxation.
Worse, they are to be considered the enemy of working men and women who are portrayed as conspiring to ruin the lives of average Americans.
It never occurs to the class warfare specialists that rich people got that way generally because they work hard and take enormous risks. And as I often remind them, and remind you, I've never been hired by a poor person.
These class envy individuals are farther away than ever from the words of President Lincoln who said, "You cannot strengthen the weak by weakening the strong. You cannot help the wage earner by pulling down the wage payer. You cannot help the poor by destroying the rich. You cannot help men permanently by doing for them what they could and should do for themselves."
Everything some people stand for today is the polar opposite of this guiding American principle.
It's a telling sign when it seems that our national symbol should be replaced. At our current pace, it will no longer be apt for it to be an American eagle. But instead a sow, a pig, that is being suckled by so many interests that it is being run dry.
There is nothing wrong with having social programs and such designed to help those in need. For it may one day be you or me. But history has shown that the private sector, the religious sector, the non-profit sector has always done a better job in doing so than a government entity.
To end, I do want to highlight a little side of this coin that many seem to ignore or simply are unaware of.
I remember years ago during my volunteer time at a local church food pantry on the city's north side how many of those that would come for free trunk loads of groceries and goods would do so wearing the latest gym shoes and clothes.
Driving luxury cars and SUV's "blinged" out with rims that cost more than both of my families used cars.
Yet these individuals came in week after week to get goods that were paid for by our tax dollars. Blabbing on their trendy cell phones with their kids in their backseat watching the latest DVD on their vehicle player.
I recall present day people we know that purposely do not get married, have their homes registered in their kids names, and a slew of other bogus ventures - all so that they can get Section-8 housing, receive LINK, and other benefits the working class never get because, well, they are responsible with their lives and their finances.
I also recall those that have bought the Hollywood lie and live well above their means - and because of that - are in debt and not able to "make ends meet".
But then again.. what do I know when I am the guy that will be waking up tomorrow at 4:50 AM for another 16 hour day. How dare I question those that purposely scam the system so that they can continue "laying low in the weeds.."
For my class envy people out there - do not worry. Me and the rest of those that take responsibility for their lives will have taxes taken out of our checks come payday to support those that know they don't have to."
_____________________________
Probing Today's Religious Movements | Promoting Doctrinal Discernment & Critical Thinking | Providing Reasons for Christian Faith & Ethics
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:14:21 AM
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iluvatar
Posts: 1961
Joined: 4/12/2005
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quote:
ORIGINAL: P31W
We must also not forget that in the 50's we did not have as high a tax on many things as we have today. Speaking for myself I don't know what my states highest tax rate was and I know for a FACT there was no garbage tax! Something that has only been added in my area over the last couple of years.
Garbage taxes are a function of the local government. It'd be better to look at your local government and see why they decided to enact a garbage tax. Somebody had to pay the garbage men in the past - where did that money come from and why is it not sufficient now?
quote:
There were also less taxes placed on people trying to do business.....licesnes is just another tax that most people didn't need in the 50's. Today you cannot cut someone hair or toenails without paying that tax.
Can you be more specific? I'm not saying that all licenses are justified, but to play the devil's advocate, in the last 50 years there have also been many businesses that either through ignorance or greed have done a lot of harm to people through a variety of unsafe practices. Licenses can be used as a means of showing that the individual or corporation has proven some basic level of competency and consistency. New oversight bodies have been created (or existing ones expanded) to administer these licenses and somebody's got to pay for it.
-Dan.
_____________________________
Well, I've been to one world fair, a picnic, and a rodeo, and that's the stupidest thing I ever heard come over a set of earphones.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:15:57 AM
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Dubya
Posts: 1019
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From: Texas
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quote:
ORIGINAL: iluvatar
quote:
ORIGINAL: SonInMe1
So...I grow my business and hire more people and as my profits increase I inch toward the 250,000 in personal income...what do I do? Yep, taxation would force me to lay off people and decrease the growth of my business.
I question the simplicity of and general over-reliance upon this argument, particularly from the small business angle. Many small business owners I've seen/talked to sacrifice their own salaries for the sake of making the business successful and having the business be successful is in their long-term best interests. There are other business considerations than just maximizing the owner's profits. If laying people off causes the business to be less effective or competitive, then the owner is likely to only make his life worse by only thinking about his own paycheck. If the people weren't needed in the first place, then they weren't needed.
-Dan.
Actually, I find this to be rather simplistic!
Taxes are like any other business expense. When expenses become too burdensome, typically the first (and frequently the only) place to cut costs is in payroll. This is true in ANY size business. Continue to raise taxes and eventually there will be NO payroll.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:18:31 AM
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P31W
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Look what I found. Joe's not practing what he preaches.
2007 Joe earned $319,853.00
took deductions of 62,954.00
gave to chairty 995.00
Again I understand why he gives next to nothing to chairty what I don't understand is if you are a better Citizen of this country he would have not taken the deductions and paid more in taxes.
http://obama.3cdn.net/60dad9a797be0e15e2_f5m6zfdgg.pdf
To see his actual return inorder to check what i posted.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:19:19 AM
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iluvatar
Posts: 1961
Joined: 4/12/2005
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quote:
ORIGINAL: Dubya
Actually, I find this to be rather simplistic!
By itself, yes, it's simplistic. As is this:
quote:
Continue to raise taxes and eventually there will be NO payroll.
quote:
Taxes are like any other business expense. When expenses become too burdensome, typically the first (and frequently the only) place to cut costs is in payroll. This is true in ANY size business.
That's right. The question then is: Is a modest increase in the top income tax rate and in the capital gains rate going to be considered "too burdensome" for a company whose owner makes over $250K/yr?
-Dan.
_____________________________
Well, I've been to one world fair, a picnic, and a rodeo, and that's the stupidest thing I ever heard come over a set of earphones.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:20:30 AM
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earthless
Posts: 6207
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From: where pigeons are wearing sweaters....
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quote:
ORIGINAL: iluvatar
That's right. The question then is: Is a modest increase in the top income tax rate and in the capital gains rate going to be considered "too burdensome" for a company whose owner makes over $250K/yr?
-Dan.
Whatever the burden may be - it will be passed onto the regular Joe Family.
_____________________________
Probing Today's Religious Movements | Promoting Doctrinal Discernment & Critical Thinking | Providing Reasons for Christian Faith & Ethics
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:21:49 AM
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P31W
Posts: 3005
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quote:
Is a modest increase in the top income tax rate and in the capital gains rate going to be considered "too burdensome" for a company whose owner makes over $250K/yr?
Yes!
Have you ever tried to buy land, purchase materials to resale, build a building pay all the "taxes" also known as "permits" required to just open one business?
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:27:12 AM
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iluvatar
Posts: 1961
Joined: 4/12/2005
Status: online
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quote:
ORIGINAL: P31W
quote:
Is a modest increase in the top income tax rate and in the capital gains rate going to be considered "too burdensome" for a company whose owner makes over $250K/yr?
Yes!
Have you ever tried to buy land, purchase materials to resale, build a building pay all the "taxes" also known as "permits" required to just open one business?
No. Can you detail some of them here as well as the final profit you expect to make on the building?
-Dan.
_____________________________
Well, I've been to one world fair, a picnic, and a rodeo, and that's the stupidest thing I ever heard come over a set of earphones.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:29:35 AM
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P31W
Posts: 3005
Joined: 6/13/2005
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quote:
Garbage taxes are a function of the local government. It'd be better to look at your local government and see why they decided to enact a garbage tax. Somebody had to pay the garbage men in the past - where did that money come from and why is it not sufficient now?
In the 50's in my area we would dig our own pits and either burn or bury the garbage on our own land. Today there are so many regulations concerning garbage disposal we are "now" forced to pay a tax to have this done. In the 50's it was NO COST to the individual.
quote:
Can you be more specific? I'm not saying that all licenses are justified, but to play the devil's advocate, in the last 50 years there have also been many businesses that either through ignorance or greed have done a lot of harm to people through a variety of unsafe practices. Licenses can be used as a means of showing that the individual or corporation has proven some basic level of competency and consistency. New oversight bodies have been created (or existing ones expanded) to administer these licenses and somebody's got to pay for it.
Dan these are pretty nothing more than taxes. Just a few years ago people to cut your grass and not be REQUIRED to first purchase a licenses. Today they simply fill out a form and hand over their money.
Use to a woman could paint my fingernails without having to have a licenses. Today she must first go to school, then get a licenses to paint my fingernails. She can stop working for twenty years and continue to pay her licenses fee and then step right back into here old profession. If however she failes to pay those fees one year then she must take a "test" costing a couple of hundred dollars and if she passes can then paint my nails even if she painted them the day before her licenses expired.
These are things that COST people to do business. They are simply a form of taxation that the individual MUST pass on to the consumer.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:31:24 AM
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csl7037
Posts: 1754
Joined: 3/24/2008
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quote:
ORIGINAL: iluvatar
quote:
ORIGINAL: P31W
quote:
Is a modest increase in the top income tax rate and in the capital gains rate going to be considered "too burdensome" for a company whose owner makes over $250K/yr?
Yes!
Have you ever tried to buy land, purchase materials to resale, build a building pay all the "taxes" also known as "permits" required to just open one business?
No. Can you detail some of them here as well as the final profit you expect to make on the building?
-Dan.
What's your point? They're making all this big money (or they might someday) so they "deserve" to pay through the nose so that people without the same drive and vision can have the same rewards? Oh, but of course they'll get the rewards of home ownership, free medical and all that people think they're "entitled" to in this country with no risk whatsoever, it's all guaranteed by the government. While the guy working hard to keep this country going in spite of the leadership running it into the ground - he gets to not only do all the work but assume all the risk. Poor sap was just born with this silly work ethic or personality that drives him to want to do something with his life....or maybe he believed that crazy notion of the "American dream" being something to work for and achieve. What was he thinking?!?!? He should've just run for Congress. Or, if he was really smart, he'd just write a book - rake in all that dough and not be bothered with all the hassles of payroll and expenses, etc. That's the way to go - like Biden...he's a true patriot, you know.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:35:57 AM
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P31W
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quote:
No. Can you detail some of them here as well as the final profit you expect to make on the building?
-Dan.
No Dan. You need to do your own work. I am too busy doing my own.
BTW he also wants to raise our individual tax rate by 2 to 4%. That "is" how most of my income is taxed.
I am also taxed on what the government believes I will make in the future on present sales. So if I invest a million dollars and sell one tenth of it the gov. will calculate what they believe I will make off the project and taxes me on "that" amount not my "acutal profit".
You need to live these things inorder to know who some of us are taxed on profits before they are even earned and may never be earned.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:37:22 AM
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its_GO_time
Posts: 220
Status: offline
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(Caution; sarcasm goggles required beyond this point)
I think Scrappy Joe Biden is on to something here. Just look at these "patriotic" quotes;
“I only regret that I have but one salary to give my country, and I’m not of a two-earner household”- Nathan Hale
“Give me the Earned Income Credit, or give me death”- Patrick Henry
"No Taxation without More Taxation!"- Reverend Jonathan Mayhew
"Government is not reason; it is not eloquence; it is cool!” – Geo. Washington
“O’er the land of the fees, and the home of the 1040-A” -Francis Scott Key
“Collecting more taxes than is absolutely necessary is legalized neighborliness.”-Calvin Coolidge
How could I Have been so wrong, all these years? I am truly in the tank for "Cool B.O"., and "Scrappy J.B.", in '08 
_____________________________
"Few men desire liberty; most men wish only for a just master" - Sallust
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:41:33 AM
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iluvatar
Posts: 1961
Joined: 4/12/2005
Status: online
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quote:
ORIGINAL: P31W
quote:
Garbage taxes are a function of the local government. It'd be better to look at your local government and see why they decided to enact a garbage tax. Somebody had to pay the garbage men in the past - where did that money come from and why is it not sufficient now?
In the 50's in my area we would dig our own pits and either burn or bury the garbage on our own land. Today there are so many regulations concerning garbage disposal we are "now" forced to pay a tax to have this done. In the 50's it was NO COST to the individual.
quote:
Can you be more specific? I'm not saying that all licenses are justified, but to play the devil's advocate, in the last 50 years there have also been many businesses that either through ignorance or greed have done a lot of harm to people through a variety of unsafe practices. Licenses can be used as a means of showing that the individual or corporation has proven some basic level of competency and consistency. New oversight bodies have been created (or existing ones expanded) to administer these licenses and somebody's got to pay for it.
Dan these are pretty nothing more than taxes. Just a few years ago people to cut your grass and not be REQUIRED to first purchase a licenses. Today they simply fill out a form and hand over their money.
Use to a woman could paint my fingernails without having to have a licenses. Today she must first go to school, then get a licenses to paint my fingernails. She can stop working for twenty years and continue to pay her licenses fee and then step right back into here old profession. If however she failes to pay those fees one year then she must take a "test" costing a couple of hundred dollars and if she passes can then paint my nails even if she painted them the day before her licenses expired.
These are things that COST people to do business. They are simply a form of taxation that the individual MUST pass on to the consumer.
I don't see these as necessarily being bad - if we had the details about each, we could argue about whether each was properly implemented, administered, effective, or done with proper motives ("proper" meaning public safety, not gov't profit). But at least in theory, I don't see how these are necessarily bad.
Garbage: you and I may just be burning some paper and burying old banana peels. The guy next door could be burning tires and burying motor oil and car batteries - that's dangerous. Even burying plastic isn't a good thing since it never breaks down.
Your nails: I don't know much about the manicure industry, but I'd imagine that there are some health code considerations involved and given how easy it is to cut somebody when doing their nails, precautions should be taken. (from your description, that doesn't sound like a particular effective regulation, but that's for the "details" discussion)
Yes, they are costs to doing business, but that doesn't mean that they're unjustified or unreasonable costs. Maximizing profit can be (isn't always, but can be) at odds with public health and safety and the government is supposed to be an arm of the people, protecting that health and safety.
-Dan.
_____________________________
Well, I've been to one world fair, a picnic, and a rodeo, and that's the stupidest thing I ever heard come over a set of earphones.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:46:30 AM
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P31W
Posts: 3005
Joined: 6/13/2005
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quote:
("proper" meaning public safety, not gov't profit).
Get involved Dan. Then you can speak from experience rather than depending upon others to educate you.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 9:55:24 AM
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blessedinnyc
Posts: 1953
Joined: 10/12/2007
Status: online
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quote:
These class envy individuals are farther away than ever from the words of President Lincoln...
I recall present day people we know that purposely do not get married, have their homes registered in their kids names, and a slew of other bogus ventures - all so that they can get Section-8 housing, receive LINK, and other benefits the working class never get because, well, they are responsible with their lives and their finances.
An op-ed complaining about class warfare while attacking people on Section 8? Oh, the irony! 
quote:
ORIGINAL: earthless
Whatever the burden may be - it will be passed onto the regular Joe Family.
That's fine- it is a collective burden that we must all work hard to pay down.
The last tax decrease was for the rich. It makes sense for us to get our economy back into whatever state it was before these tax cuts. I am perfectly fine with giving our families the same burden they had back in 1999.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 10:04:20 AM
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iluvatar
Posts: 1961
Joined: 4/12/2005
Status: online
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quote:
ORIGINAL: csl7037
What's your point?
My point is that not all government regulation or oversight or licensing fees are a bad thing. It's a legitimate means of keeping in check the actions of people or businesses who would otherwise disregard (either through ignorance or greed) the safety and well-being of others. People complain about big government making it hard for businesses to operate, but what happens when there's no money to hire enough food inspectors and a restaurant doesn't keep its food at the right temperature and a bunch of people get sick? (as has happened here in Boston) What happens where there's no money to hire enough fire inspectors and a restaurant doesn't bother to clean grease out of its ventilation ducts, the building catches fire and a couple firemen die? (as happened here in Boston this year) What happens when a crane's load isn't rigged properly and its load falls, taking down the whole crane and killing 4 people. (as happened in Manhattan in March) Poor regulation and oversight in China coupled with ignorance and/or greed has resulted in a whole slew of contaminated products. Then there's the story of Russel Bliss spraying the roads of Times Beach, MO w/ dioxin-tainted oil. The whole town was so poisoned that it was eventually quarantined and bulldozed.
That's why we have regulations and licenses and permits.
-Dan.
< Message edited by iluvatar -- 9/19/2008 10:21:46 AM >
_____________________________
Well, I've been to one world fair, a picnic, and a rodeo, and that's the stupidest thing I ever heard come over a set of earphones.
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 10:15:04 AM
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URForgiven
Posts: 1123
Joined: 3/22/2008
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There is nothing stopping these patriots from fulfilling their duty and being more patriotic, except themselves. Just make that check out to the IRS, in the amount that will confirm your patriotism to yourself, and send it in.
If it is a patriotic duty, why are they waiting for the government to force them to fulfill their duty?? The IRS will gladly receive their patriotic payment right now.
Peace
_____________________________
"Are you so foolish? After beginning with the Spirit,
are you now trying to attain your goal by human effort?" Galatians 3:3
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 10:19:27 AM
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Thessa
Posts: 811
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quote:
ORIGINAL: earthless
By DOUGLASS K. DANIEL, Associated Press Writer Thu Sep 18, 9:15 AM ET
WASHINGTON - Democratic vice presidential candidate Joe Biden said Thursday that paying more in taxes is the patriotic thing to do for wealthier Americans. In a new TV ad that repeats widely debunked claims about the Democratic tax plan, the Republican campaign calls Obama's tax increases "painful."
Under the economic plan proposed by Democratic presidential candidate Barack Obama, people earning more than $250,000 a year would pay more in taxes while those earning less — the vast majority of American taxpayers — would receive a tax cut.
Although Republican John McCain claims that Obama would raise taxes, the independent Tax Policy Center and other groups conclude that four out of five U.S. households would receive tax cuts under Obama's proposals.
"We want to take money and put it back in the pocket of middle-class people," Biden said in an interview on ABC's "Good Morning America."
Noting that wealthier Americans would indeed pay more, Biden said: "It's time to be patriotic ... time to jump in, time to be part of the deal, time to help get America out of the rut."
STORY HERE
This is coming from the man that has only given two-tenths of one percent of his income to charity over the past decade.
_____________________________
For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.
John 3:16
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 10:22:30 AM
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earthless
Posts: 6207
Joined: 4/11/2005
From: where pigeons are wearing sweaters....
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quote:
ORIGINAL: Thessa
This is coming from the man that has only given two-tenths of one percent of his income to charity over the past decade.
Obama didn't give much either, so I guess Biden just called his running mate "unpatriotic.."
_____________________________
Probing Today's Religious Movements | Promoting Doctrinal Discernment & Critical Thinking | Providing Reasons for Christian Faith & Ethics
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 10:24:15 AM
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Thessa
Posts: 811
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quote:
ORIGINAL: earthless
quote:
ORIGINAL: Thessa
This is coming from the man that has only given two-tenths of one percent of his income to charity over the past decade.
Obama didn't give much either, so I guess Biden just called his running mate "unpatriotic.."
Then he can tell the truth after all...
_____________________________
For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.
John 3:16
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RE: :: Joe Biden | "Paying higher taxes a patrioti... - 9/19/2008 10:34:20 AM
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blessedinnyc
Posts: 1953
Joined: 10/12/2007
Status: online
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quote:
ORIGINAL: P31W
quote:
He said he was in the top tax bracket, and that it doesn't hurt all that much to pay more.
He and his wife made $4.2 million 2007 according to their tax returns. (most from book sales)
He paid $1.4 M in federal taxes
He gave to chairty only $240,370.00 dollars
Making 4.2 million dollars and most of it being from book sales is not going to hurt him very much. For the Mom and Pop operation who have 10 employees and earn 300K trying to grow a business, give pay raises, provide insurance to their employees and so on it's going to "hurt" them, their employees, customers and their community.
If Mom and Pop are Christians who believe in doing what scripture tells them to do they are probably going to be giving back to God a min. of a tithe and another couple of percent of their income from the needy in their church and community.
Remember he made 4.2M and made that stupid comment. He wants to raise the taxes on someone making 251,000. and up.
Remember it's the small business owners in this country who employ people. They cannot do it if Joe biden and I will quote him "take money" from them.
Remember that revenues aren't taxed; profits are. If taxes go up, it just means that the tax increase is based on your take-home pay.
Finally, as a New Yorker, it really irks me when people from other states claim that they are suffering from higher taxes than me. I pay 28% federal, 7% social security (which you, ma'am do not have to pay past about $105K), 7% state, and 4% city. If you pay less than a 46% marginal tax on your take-home pay, you really can't say you suffer from "burdensome" taxes. Meanwhile, I have to spend this money in New York. Good luck finding a loaf of bread for less than $5 here! I'm willing to see my maginal tax rates go up to 50% if it means paying down the debt. You should, too, because it will mean lower taxes and less inflation for you in the future. As a small business-owner, you probably know just how big of a problem inflation can be. You've probably seen your energy bills and food bills (if any) go up. Customers are having a hard time accepting these price increases. This inflation is only going to get worse until we fix the deficit.
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So...I grow my business and hire more people and as my profits increase I inch toward the 250,000 in personal income...what do I do? Yep, taxation would force me to lay off people and decrease the growth of my business.
Sort of like the economy back in the 1950s... one of the worst recessions ever after all those rich people making $1 million/year or more started cutting back on hiring.
To elaborate on Dan's point, and understand why the economy didn't crash in the '50s, let's take a look at this example:
A guy has the choice of getting 0% interest or 5% interest; he takes 5%.
A guy has the choice of getting 0% interest or 3% interest (5%, but taxed at 40%); he still takes 5%.
Taxes do not generally affect business decisions. People will still stay in business if they're earning less, as long as their variance does not increase. Inflation increases profit variance while decreasing average taxes; taxes decrease them.
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Excellent post, P31W. But even if this stupid tax increase idea wasn't going to destroy small business in this country, redistribution of wealth would still be WRONG and unAmerican at every level!
The sad thing is that redistribution of wealth is going to happen a whole lot more if we don't raise taxes. If we don't cut the budget deficit, we will eventually have to deal with inflation. A weaker dollar means that the wealthy have less wealth.
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I looked Eisenhower's tax rate for the highest group. It was for those who earned over $400,00.00 per year in todays dollars that would be the tax rate for those earning more than $3,282,187.27. That's a far cry from raising the taxes on those who earn over 250K.
True, true, but I would just add two things:
1.) If we set up a higher tax bracket for those who make $3 million+, that would really get called class warfare.
2.) Much of the business growth back in the '50s came from corporations owned by wealthy families.
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