The money is there. All that has to be done is tax for it.

[.... callchet ....]

Why is the govenrment dancing around the money but not taxing for it ? Taxing the above $250K would solve the problems that not taxing for it caused.

[DJ13]

1. The same reason the government would rather give $1.3T to banks

.....with no strings attached (like loan forgiveness, or limits on interest rates).

To keep the status quo as financially safe as possible instead of just working to solve the problems as fast as possible.

[.... callchet ....]

2. Taxing is win win.

Can money be saved from being taxed by investing it? That is my premise. To avoid paying taxes, people will invest it. The higher taxes, the more invested ? Free stimulus.

[snot]

3. k&r'd -- WE NEED A CLEAR STATEMENT OF THIS

-- It'll never be sold to the masses unless we make the case:

First, we need to show how real, after-tax, inflation-adjusted, middle-class wages/wealth have fallen since the 50's or whenever. In this connection, it's very impt. to include, if possible, the massive wealth transfer that's occurred since August 2008 in connection with the looting of middle-class retirement funds, our currency, etc.

Then, show how real, after-tax, inflation-adjusted, wages/wealth for the top two percent have mushroomed during the same period.

Then, show how just taxing the wealthy so as to equalize all that -- so the oligarchs kick in their equivalent percentage -- would solve a lot if not all our problems.

[Two Americas]

5. here is how

I had a conversation with a Limbaugh-listening guy at the farm once about taxes that went surprisingly well.

He was saying that the Democrats were socialists who just wanted to "redistribute wealth" and "soak the rich" and the usual malarkey.

I said "you know Jack, you are a millionaire, and you are already getting soaked."

"Huh?" he says.

"You have been working about 40 years, right?"

"Right."

"Hard work. A long time. $25,000 a year on average more or less, would you say?"

"I guess so, yeah."

"There's your million dollars. Add it up. Now, that guy on Wall Street makes that in a week, sometimes a day. That is the only difference. It took you 40 years. Which one of you guys did more to earn that million dollars - worked harder?"

"Never thought of it that way. Hmm."

"Now, how much of your pay goes to taxes ? Think about it. Sales tax, income tax, property tax, tax on your utility bills, fees, licenses..."

"I bet it is half. Damn, I bet it is half."

"OK, now... you tell me why can't we take half of that million dollars that the fat cat makes in a week? Wouldn't that be fair?"

"Hmmm....."

"Now, Jack, let me ask you something else. How much do you think Limbaugh makes? Do you think he might have a dog in this fight?"

I wish I had a picture of the look on his face.

For weeks after that, I would walk by the shop once in a while and hear him talking about it to the other guys. "Now Steve, let me ask you this. How much do think you are going to make - over your whole life I mean. Hey, get in here, could ya? Tell Steve what you told me. Now listen to this, Steve."

This can be done.

[SammyWinstonJack]

9. Good job!

:thumbsup:

[Angleae]

4. Because there are too many millionaire senators and representatives.

Do you think they'll even think about raising taxes on themselves?

[.... callchet ....]

6. Raising taxes stimulates investments.

Investments in new businesses will soar as taxpayers avoid paying higher taxes. Higher taxes will not stifle investments as claimed. It will spur investments. Tax plan: Raise taxes progressively on on over $250k to 95% top bracket. Lower taxes digressively on $250k and below, phasing out at $50k. Upper incomes will invest more money and lower incomes will have more money. Labor prices will adjust automatically as entrepreneurs nullify tax breaks for poor. USAmerica will start to compete on world market. World market will respond in like way to stay competitive. I am not a rocket scientist and guess what, this is not rocket science. It is plain common sense and logic

[.... callchet ....]

7. To be clear. Is the main argument against raising taxes

is that it stifles investment ?

[OneBlueSky]

8. removing the cap on incomes subject to FICA would be a big help . . .

no reason for those earning over $80K (or whatever the limit is) not to pay Social Security taxes on ALL of their earnings . . . just common sense, imo . . .

[Vincardog]

10. no reason for those earning Billions in BONUSES not to pay Social Security taxes on ALL of their

[Hannah Bell]

13. Social Security is currently running huge surpluses & is a tax on workers.

Tax CAPITAL. Cap gains, interest income, dividends, rents.

CAPITAL has all the money, not workers.

I don't even know why someone would bring up SS except to cloud the issue.

SS isn't in deficit. Every year SS collects over 150 BILLION more than is spent on SS.

[Hannah Bell]

11. the limit is $109K, but only on wage income. Rich people make most of their income

on capital gains, interest & rents, not wages.

They don't care if you raise the cap on FICA, they can easily shift income out of wages to other avenues. i.e. just take more compensation in stock options v. salary.

But if you want to help the right demagogue SS, your suggestion is perfect.

[TahitiNut]

12. It'd be FAR better to increase the minimum wage and raise the earning power of the bottom 90%.

Social Security depends upon the earning power of the 'working class' ... NOT the CEOs. As an INSURANCE fund, the amount of benefits is, to SOME degree, based upon one's payroll history. Folks with a lifetime of working full-time receive more retirement benefits (i.e. income continuation) than those who live off investments or those who worked part-time. It's INTENDED to generate benefits based upon equitable employment compensation. As the middle-class is destroyed and the chasm widens between those earning the most and those earning the least, the Social Security system suffers. It's an INDICATOR of inequitable compensation. As such, it'd be folly to ignore the dead canaries in the economic mineshaft and continue the structural inequities.

I'd be far more inclined to enact a 1/2% sales tax on the sale or exchange of stock market equities (and futures and derivatives) and enact an IMMEDIATE 20% increase in current Social Security beneifits. As folks are increasingly left with NOTHING BUT Social Security, based on the predations of the "ownership class" it's high time that our 'capitalist' system reflected the FACT that no "means of production" has any value whatsoever without the very existence of a work force.