David,I can buy that concept if the FICA tax is also adjusted so
that whatever percentage is paid on that tax is the same for every dollar earned
as well. While we are agreeing how about we add significant tariffs to products
coming into the United States from other countries like other countries do to
us. This would help provide incentives for American business to produce
products in America, and hire Americans at a living wage.The problem
we have is not President Obama alone or Mr. Boehner alone, or the republicans or
the democrats alone, the problem is special interests both red and blue that are
trying to do what is best for them financially or politically and not what is
best for America.I think given the power you and I could sit down
and solve this problem in a day with time left over to go play 18 holes of golf
Fred, I completely agree with your questions and suggestions. Make the tax code
fair. Eliminate deductions--100% of them.Make a tax that is
flat--every pays in a percentage of what they earn. It makes everyone invested
in our nations success on a financial level.Those who are poor could
be exempted from taxes as they currently are.How about that for
fair? If you make more you pay more. No difference between capital gains,
employment income (W2), distributions, interest income, etc. Simply pay a
percentage of the increase.
David,What is fair? Who gets to define fair? Is it fair that one
type of income is taxed at one rate but another type is taxed at another rate?
Is it fair that home owners get exemptions but non home owners don't? Is
it fair that private jet owners get a tax break that non-private jet owners
don't get? Is it fair that those who are self employed can show virtually
no income because of the tax breaks they are given? Why do we only
call it redistribution of wealth when the wealthy have to pay a little more?
The current economic structure and tax system already is redistributing the
wealth, to the wealthy. If we have thirty more years like the last 30 years,
the 1% will have 99% of the wealth and the 99% will be sharing the 1%, and the
republicans will still be calling for the poor to pay more because its not fair
that the wealthy pay so much. I am in favor of reforming the tax
code, but the proposals from the republicans will kill the middle class and
won't change much for the wealthy, but I guess that is fair.
But the top 2% pay 80% of the nations taxes and revenue to the Treasury. So this tax increase is more about redistribution than fairness. If we
were aiming for fairness wouldn't we want a more even distribution of
taxes?This would broaden the tax base, get more voters invested in
the process, and yield more revenue to the Treasury. But for Obama
and his supporters the issue is not about balanced budgets and debt management.
Instead the issue is class warfare. Tax the rich more. It is wealth
redistribution. I understand that the wealthy are getting richer,
the poor poorer. But redistributing wealth through entitlement programs will
not work to strengthen individuals or our nation. Instead,
restructure the tax code to encourage growth, investment, industry, and work.
How far have fallen since Clinton left office? 8 years of mismanagement by Bush
and the Republicans and 4 by BO and the Democrats. Time to invest in Costa Rica
David,The changes to tax policies since the Reagan era have
disproportionately favored the wealthy, and have actually taken away their
incentive to invest in America by allowing them to pull money out of American
companies and move it offshore and open sweat shops in third world countries. I
agree that we need to create incentives for investing in America. I also agree
that we need to cut spending, and that includes defense and entitlement programs
for big oil and others. The great risk to America is the
continuation of the wealth redistribution that was started under the Reagan
administration and continues to this day. When 1% of Americans hold
approximately 40% of the wealth and the next 5% hold an additional 30% of the
remaining wealth we have real problems. Since 1979 the after tax income for the
top .01% has risen by 281% and for the middle 5th of Americans 25% In the past the wealthy did what was best for America, today the wealthy do
what is best for their personal bank account (there are exceptions). We are
quickly becoming a third world country and we will not survive unless and until
the wealth distribution changes.
Those who want to raise taxes on the rich are simply trying to make taxes
"fair". But it won't help the economy. Read Clayton
Christensen's article in the Opinion section of the Dnews. Instead of
punishing success, tax policies should encourage investment, innovation,
efficiency, and savings. Of course to allow this type of restructure of the tax
code. government would have to tighten its belt and reduce spending. But any
honest person understands that the greatest risk to American strength is not
taxing the rich, but balancing budgets and living right.
why do you all continue to think that your failed rhetoric of the campaign is
going to hold any weight now? time for some new material.
Socialism, Communism, really? Time to turn off Sean Hannity and listen to some
Christmas music. The solution is compromise and when the clowns on both sides
of the aisle realize that we can move forward. Revenue must be raised which
includes some widening of the tax base and increased taxes on those who have
prospered the most. How do you raise taxes on the wealthy who cares, close
loopholes or increase the tax rate. Spending must be cut, and that includes
military spending, entitlements for both the wealthy and the poor. This is not
a republican or democrat problem, this is an American problem.
Everything is going to be fine. With Obama's measured and mature approach
that all his supporters told us about, our economy is going to do great! No
Incompetent president, incompetent congressmen, incompetent senators. Our
leaders are selfish, dishonest, greedy, unprincipled and immoral. Their values
trickle down to the rest of the population until our whole society is drenched
with corruption. The conditions in our society have been prophesied and the
prophesies are coming to pass. We had a chance to vote for real, honest
principled leadership. But the people chose not to. I'm so glad I
don't have voting for Obama on my conscience.
This could be solved very quickly but Obama is committed to punishing the
successful among us. His goal is to redistribute. I am convinced he is a
communist. Thank you to those who vote for him. You have sent this Country over
The GOP needs to cave in and just sign a blank check for Barack. Resistance is
futile. America decided on Nov 6 it wanted socialism going forward and rejected
capitalism so continuing to stand in the way - as the GOP is doing - is
hopeless. If Barack doesn't get his way he jumps back out on the campaign
trail and feeds the ignorant masses with more propaganda.... and it works!!
America is dead in the water and this fiscal cliff is just the beginning. Wait
til the real hard core taxes and mandates of Obamacare start hitting small
business. I wouldn't be surprised to see unemployment hit 15% by end of
2014. The pattern is the same - raise the debt ceiling - borrow more from China
- tax the American people more (those that actually work) and make more and more
dependent on the government. The cycle ends in financial collapse and bankruptcy
- (see Greece).
The people who voted for Obama must suffer the consequences of their actions.
Grid Lock total Grid Lock. No Healthcare, No Budget no anything.