less taxes for Romney - we pay more under Ryan Plan

David Hilbert

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Increase our taxes to pay for a 12.5% tax cut for Mitt Romney and his fellow multi-millionaires?
See this YouTube video about the Ryan plan decreasing tax rates for the wealthy, but eliminating the deductions used by the middle class making their taxes increase to offset the tax cuts for Romney and his wealthy buddies.

 
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What percentage tax rate is "fair" for the "rich"?
I think the tax rates under Clinton were fair, and the rich still enjoyed a lavish lifestyle. I think the marginal rate was then 65% for high incomes.
Of course, deductions made very few of them pay that tax rate. If a guy like Romney has $250 million in assets and makes $25 million/year, I don't think his paying $1 million/year in taxes is unfair. Hell, a quarter of my income goes to IRS, so why not 4% for him.
 
I think we should have a flat tax with no deductions and no tax brackets.

Yes, you righties all prefer a very regressive tax on consumption, not on income. It causes the poor to pay through the nose since
they spend every cent they have and the rich pay little since they invest most of their income
 
I think the tax rates under Clinton were fair, and the rich still enjoyed a lavish lifestyle. I think the marginal rate was then 65% for high incomes. Of course, deductions made very few of them pay that tax rate. If a guy like Romney has $250 million in assets and makes $25 million/year, I don't think his paying $1 million/year in taxes is unfair. Hell, a quarter of my income goes to IRS, so why not 4% for him.


I am halfway tempted to just say fine -- go for it -- then we can put to bed the idiotic idea that Clinton's higher rates were the cause of a better economy.

All of that aside -- what is the point?
Will increasing the tax rates boost the economy? No
Will it solve the deficit/debt problems? No

What is the point?

Full disclosure here -- I fall into that evil category of $250,000 plus a year -- you say why doesn't someone like Romney pay more (4%) -- I look at about half the country (speaking in terms of federal income tax) and say: Why don't they have to pay anything?
 
I think the tax rates under Clinton were fair, and the rich still enjoyed a lavish lifestyle. I think the marginal rate was then 65% for high incomes.
Top marginal rate under Clinton was 39.6%.

Of course, deductions made very few of them pay that tax rate. If a guy like Romney has $250 million in assets and makes $25 million/year, I don't think his paying $1 million/year in taxes is unfair.
Romney paid $3 Million in taxes in 2010... That's $2 million more that what you think would be "fair" for him to pay but you think he's under taxed.o_O

Hell, a quarter of my income goes to IRS,
Poetic Justice: You're the one who supports a Progressive Income Tax.

so why not 4% for him.
Romney had a tax rate of 13.9% in 2010, lowering that to just 4% would be a massive tax cut... I thought you were against tax cuts for the "rich" o_O
 
Yes, you righties all prefer a very regressive tax on consumption, not on income.
The Flat Tax is a flat-tax on income, not consumption... The Fair Tax is a tax on consumption.

It causes the poor to pay through the nose since they spend every cent they have and the rich pay little since they invest most of their income
Shouldn't the "poor" have to pay their "fair share"?
 
I am halfway tempted to just say fine -- go for it -- then we can put to bed the idiotic idea that Clinton's higher rates were the cause of a better economy.
You know what would happen... The economy would tank, tax revenue would plummet, and Leftists would blame something other than their policy for the failure.

What is the point?
Wealth envy... Raising taxes on the "rich" is the Leftist coping mechanism, those evil "rich" people need to be punished for the egregious sin of creating/having wealth.

Full disclosure here -- I fall into that evil category of $250,000 plus a year --
SINNER! You must be punished! :p

you say why doesn't someone like Romney pay more (4%)
That goes to the delusional nature of the Left... The belief that a 4% tax rate would be a tax increase for Romney.

-- I look at about half the country (speaking in terms of federal income tax) and say: Why don't they have to pay anything?
They're special... How could the average person on government assistance collect $34,000 a year in government benefits if people like you weren't being raked over the coals to pay for it?
 
Yes, you righties all prefer a very regressive tax on consumption, not on income. It causes the poor to pay through the nose since
they spend every cent they have and the rich pay little since they invest most of their income

Actually a flat tax is on income. But yes, the poor do spend all their money to live on, but food and shelter aren't taxed. ( don't tell the democrats that, because they will want to tax that too). Most are already paying sales and excise taxes on everything else.

You don't understand what investment income is. Money invested has already been taxed and is now at risk of being lost. It's sort of like taking your paycheck to Las Vegas and gambling with it. We also have another thing called the "Alternative Minimum Tax", http://en.wikipedia.org/wiki/Alternative_minimum_tax that taxes certain types of income at a higher rate.
 
Actually a flat tax is on income. But yes, the poor do spend all their money to live on, but food and shelter aren't taxed. ( don't tell the democrats that, because they will want to tax that too). Most are already paying sales and excise taxes on everything else.


SAY WHAT ? sorry cru but I have to disagree on this
 
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Property taxes on rental property are paid through rent, so yes, housing is taxed. Some foods are taxed as well, like soda and other sugary drinks.

As for the topic, the Ryan plan does eliminate many deductions but it also makes significant changes to the tax rates in the code. The six levels of progressive taxation are replaced by two levels, 10% for the bottom and middle income earners and a 25% rate for the highest earners. Even with the loss of popular deductions, a new 10% tax rate for middle income earners would represent a significant tax cut for the middle class.
 
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