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Considering the possibility of winning a major jackpot, do you think the rich should pay more taxes?

Topic closed. 47 replies. Last post 6 years ago by ttech10.

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Would you gladly pay more taxes because you think it's the right thing to do after you're rich?

Yes, the rich should pay more [ 11 ]  [29.73%]
No, the rich already pay enough [ 20 ]  [54.05%]
Other (explain) [ 6 ]  [16.22%]
Total Valid Votes [ 37 ]  
Discarded Votes [ 3 ]  
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Posted: October 1, 2010, 8:32 pm - IP Logged

Considering that the top 10% of income earners already pay about 70% of all taxes paid in this country, would you agree with the current administration's plan to raise taxes on the rich Jan. 1st if you won millions?

Keep in mind that this doesn't include just income tax but taxes on virtually everything a rich person does including dying.

Yes, after Jan. 1st, if you die and leave over a million dollars, the government will confiscate 55% of it. Your family will get to split the remaining 45%.

My personal opinion is that the rich already pay enough, what's yours?

Yes, the award winning book, "Perfectly Legal", documents how the rich wrote the tax code for themselves.

The rich do not pay enough.

Take corporations.  A few years ago 41% of all federal taxes collected came from payroll taxes but only 7.9% came from corporations.  Source: the nonpartisan Center on Budget Policy and Priorities.

    jarasan's avatar - new patrick.gif
    Harbinger
    D.C./MD.
    United States
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    July 30, 2006
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    Posted: October 1, 2010, 8:55 pm - IP Logged

    No.

      Colt45ML's avatar - 4eyes
      Jawja
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      February 25, 2010
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      Posted: October 1, 2010, 9:31 pm - IP Logged

      Corporations don't pay taxes.  They only collect taxes from you and me at the retail end.  I'm a sole propreiter.  I can assure you that I consider my taxes as a business expense when I'm calculating how much I'm going to charge my customers for my service.  It's a lead pipe cinch that businesses from the largest of multinational corporations right down to someone like me pass the tax bill on down to the customer.

      It's also a fact that about 50% of Americans don't pay any federal taxes at all.  That's why I think the congress should seriously consider a flat tax.  That way everyone has skin in the game.  As it is now, the government punishes the producers and rewards parasitism.  If they had to pay taxes just like the "rich man" does, the parasites would take more of an interest in getting off the dole and being a non parasite......at least some would anyway.

      Be sassy and be happy.

        rdgrnr's avatar - walt
        Way back up in them dadgum hills, son!
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        Posted: October 1, 2010, 9:47 pm - IP Logged

        How rich does one have to be in order for them and their family to be independently wealthy for the rest of this century. The taxes the rich pay is a mere penitence to what they claim as deductions. These people have tax layers and accountants that make their monies make money. Many of the rich could adopt 10 family's or more and support them for ever.

        So why shouldn't they pay more taxes.

        I don't think the question should be why shouldn't they pay more but why should they pay more?

        Is success some kind of evil that should be penalized?

        They already pay most of the taxes in this country.

        What percentage of taxes paid by them would meet your approval?

        Exactly how much more should they pay?


                                                     
                             
                                                 

         

         

         

         

                                                                                                           

        "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                    --Edmund Burke

         

         

          rdgrnr's avatar - walt
          Way back up in them dadgum hills, son!
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          Posted: October 1, 2010, 10:08 pm - IP Logged

          Yes, the award winning book, "Perfectly Legal", documents how the rich wrote the tax code for themselves.

          The rich do not pay enough.

          Take corporations.  A few years ago 41% of all federal taxes collected came from payroll taxes but only 7.9% came from corporations.  Source: the nonpartisan Center on Budget Policy and Priorities.

          The writer of that book (David Cay Johnston) has to be taken with a grain of salt or two.

          He's an ex-New York Times writer (red flag) and he likes to brag about studying economics here and economics there but the truth of the matter is he doesn't have a degree in anything  (red flag).

          http://davidcayjohnstonwatch.blogspot.com/

          But his peccadillos and shortcomings notwithstanding, I'll ask you the same question Greg.

          What percentage of our taxes do you feel the rich should be paying?

          Exactly how much more of their money should be taken away from them?


                                                       
                               
                                                   

           

           

           

           

                                                                                                             

          "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                      --Edmund Burke

           

           

            Rick G's avatar - avatar 1766.jpg
            FEMA Region V Camp #21
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            Posted: October 1, 2010, 10:31 pm - IP Logged

            They should eliminate all taxes on production/income.  Revenue can be collected via a national sales tax like states do.  That way everybody pays taxes according to their wealth (the amount they spend) and it eliminates all tax loopholes.  Also money launderers, drug dealers and other criminals would be forced to pay taxes via their spending.

            Posted 4/6:  IL Pick 3 midday and evening until they hit:  555, 347 (str8).


              Colt45ML's avatar - 4eyes
              Jawja
              United States
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              Posted: October 1, 2010, 10:55 pm - IP Logged

              The writer of that book (David Cay Johnston) has to be taken with a grain of salt or two.

              He's an ex-New York Times writer (red flag) and he likes to brag about studying economics here and economics there but the truth of the matter is he doesn't have a degree in anything  (red flag).

              http://davidcayjohnstonwatch.blogspot.com/

              But his peccadillos and shortcomings notwithstanding, I'll ask you the same question Greg.

              What percentage of our taxes do you feel the rich should be paying?

              Exactly how much more of their money should be taken away from them?

              Yep, he's kind of like that other NYT econ writer, Paul Klugman; except I think Paul claims a degree from Harvard, which makes him double suspect.

              I'll answer your question Ridge.  I think "the rich man," whoever that is, should pay the same percentage of his income in taxes as the man that makes one (1) dollar a year.  If the one dollar man 10 cents on the dollar in taxes, then the man that makes a million a year should pay one hundred thousand (100,000).  No deductions for anyone. 

              I do favor a flat tax if there has to be a tax, but there is merit in a consumption tax as well I think.  At least that Indian that owns the convience store where you buy your lottery tickets who pays no federal income tax would not have an advantage over a native born American like they do now.

              Be sassy and be happy.

                four4me's avatar - gate1
                MD
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                Posted: October 1, 2010, 11:40 pm - IP Logged

                I don't think the question should be why shouldn't they pay more but why should they pay more?

                Is success some kind of evil that should be penalized?

                They already pay most of the taxes in this country.

                What percentage of taxes paid by them would meet your approval?

                Exactly how much more should they pay?

                I was being sarcastic..... what you the only one allowed to do that.
                 
                There shouldn't be any taxes we all should be able to live free.
                 
                Who needs a stinking government anyway.

                Exactly how much more should they pay?

                Nobody should have to pay the government a dime. They created this mess let them clean it up.

                Big John says. You don't hit the number. The number hits you!!!!

                               I'm not Big John, I'm Four4me, Big John's a friend.
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                  NASHVILLE, TENN
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                  Posted: October 2, 2010, 1:03 am - IP Logged

                  The wealthy pay enough as things stand now. 

                  The mantra of making the rich pay more has been around longer than I have ( and I am retired).  Every four years there is some politician somewhere demanding the rich pay more. 

                  Don't they realize the rich are going to stay rich no matter what the government does?  If their taxes are raised, they will pass those raises down to the consumer.  And if there is no consumer, then they will lay off enough workers to compensate for their loss.  Tax them more and you will see where the economy will drop.  In fact, you are seeing it now.  Unemployment is kissing 10%.

                  The rich have enough money to pull us out of this depression tomorrow but why should they turn loose of a single dollar if they don't know how much the government is going to take from them or how they might protect their future wealth?

                    savagegoose's avatar - ProfilePho
                    adelaide sa
                    Australia
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                    April 11, 2006
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                    Posted: October 2, 2010, 2:42 am - IP Logged

                    here in australia there is no tax on the lotto jackpot payment, but there is a tax upfront on the ticket purchase, 1/11th of the bet goes str8 in tax., same as all gambling,. the loser pays up front so the winner doesnt pay tax? is that fair?

                    in slot machines, there is a program every dollar bet, calculates how much tax is Owed and its sent directly electronically to THA TAX OFFICE.

                     

                    still i wouldnt complain if i won a pot. its just losers carrying the tax bill for the winner irks.

                    but its only %9 all up its less than you americans pay.

                    2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

                    keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

                      time*treat's avatar - radar

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                      Posted: October 2, 2010, 2:55 am - IP Logged

                      Considering that the top 10% of income earners already pay about 70% of all taxes paid in this country, would you agree with the current administration's plan to raise taxes on the rich Jan. 1st if you won millions?

                      Keep in mind that this doesn't include just income tax but taxes on virtually everything a rich person does including dying.

                      Yes, after Jan. 1st, if you die and leave over a million dollars, the government will confiscate 55% of it. Your family will get to split the remaining 45%.

                      My personal opinion is that the rich already pay enough, what's yours?

                      I'd need to know what my tax money is going towards. Skeptical

                      As it's currently being spent: NO.

                      In neo-conned Amerika, bank robs you.
                      Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

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                        Milwaukee, WI
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                        Posted: October 2, 2010, 4:21 am - IP Logged

                        I'm kinda spit on this one. I can see where some business people(such as farmers) are having trouble passing their business on to their kids. Where the kids are having trouble keeping the business going. They need to be protected.

                        However I have no sympathy for some of them who have sooo much money and really do no good. They have nothing better to do that shove drugs up their nose, have 14 big estates around the world.  They can afford to pay much more. Often they pay a much smaller proportion of their income  than us poor folk.       

                        If I pass 20 million on to my kids, I don't really think that they will suffer if they only have to live on $10 million.

                        There just has to be some formula for justice.

                        MarkP

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                          Milwaukee, WI
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                          Posted: October 2, 2010, 4:26 am - IP Logged

                          BTW I believe that the maximum tax rate is 35%.

                          http://www.moneychimp.com/features/capgain.htm

                            rdgrnr's avatar - walt
                            Way back up in them dadgum hills, son!
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                            Posted: October 2, 2010, 6:59 am - IP Logged

                            BTW I believe that the maximum tax rate is 35%.

                            http://www.moneychimp.com/features/capgain.htm

                            The Death Tax right now is 0%. All of your money will go to your kids if you wish.

                            The Dems are going to make the Death Tax 55% Jan 1st. Then your kids will get just 45% of any money you leave them.

                            That's why I'm asking the question.

                            If you win just a million dollars or two million dollars and die, do you really think the government deserves to take most of it away from your kids?

                            That sounds preposterous to me. Especially when they just throw it away.

                            Why would you put them before your kids?


                                                                         
                                                 
                                                                     

                             

                             

                             

                             

                                                                                                                               

                            "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                                        --Edmund Burke

                             

                             

                              BaristaExpress's avatar - BaristaExpressMX zpsfb0d8b5d.png
                              Magnolia, Delaware
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                              Posted: October 2, 2010, 11:01 am - IP Logged

                              The Death Tax right now is 0%. All of your money will go to your kids if you wish.

                              The Dems are going to make the Death Tax 55% Jan 1st. Then your kids will get just 45% of any money you leave them.

                              That's why I'm asking the question.

                              If you win just a million dollars or two million dollars and die, do you really think the government deserves to take most of it away from your kids?

                              That sounds preposterous to me. Especially when they just throw it away.

                              Why would you put them before your kids?

                              That's the PRIME reasons to claim the win/jackpot with a trust! And then have that said trust make deposits to the other trusts that are set up in the kids names! That way the tax man is by passed when you pass away!

                              And there is one more sure way to by pass the tax man for generations to come, just set up a legacy trust from the start to claim the win/jackpot and then when you pass on your childern will get the money and then your childerns childern and there childern and so on will get checks from the trust with your name on them so they know who to thank for thinking so far ahead and for taking care of them for so many generations! That's what the Rockerfellers and the Kennedys and the rest of the smart ones do with their big family money!

                              No one can completly escape the tax man not even a trust! But the tax man doesn't get nearly as much from the trust in taxes as he would from an individual/person!

                              Keep dreaming the impossible dream, it just may come true! Thumbs Up