TAX THE MILLIONAIRES & REALLY TAX THE BILLIONAIRES

[Divine Discontent]

For far too long the working poor have had higher retail prices on food & medication, gas & utilities, tolls & fees placed upon them while income levels have dropped.

Meanwhile, over on Easy Street™, things are running smoothly as the stock market is way-way up in 2010, and bank accounts for the privy are flush with tens of billions in new wealth for the uber-wealthy who mostly mock and defile the efforts of the working class, and certainly dread having to pass the homeless.

We need the Bush Tax Cuts removed - everyone but the super rich should be heavily for this action. We need states that are floundering to pay for social services to enact an immediate raise in the income tax on millionaires. We need Congress to force price controls or better called - profit controls on health sector companies that now know they have a captive audience, and we need these wars that do more harm to America's future to be ended soon.

http://1.bp.blogspot.com/_gcA0ZuKGkI8/SxLD8dYbsmI/AAAAAAAAE_M/7_ExjrSCCqs/s1600/Homeless+NYC.jpg

[Divine Discontent]

1. and I'm all for the tax rates being put back to 1st term Reagan levels!

[aquart]

4. Eisenhower. Wartime levels. WE'RE AT WAR.

We should be taxing like we're at war.

[abelenkpe]

13. Yes please! nt

[aquart]

2. Why is that not obvious?

Instead I hear insane trial balloons about an appallingly regressive national sales tax.

[Divine Discontent]

5. my friend just went on and on to me about what you state in your post

and I was astounded at his belief that would work.

[lazarus]

3. my dad

is a conservative. Retired military, insurance executive, loves the free market.

I just sent him a link to the article about the top 25 hedge fund managers' making over 25 billion dollars last year.

Now he's in favour of a progressive tax, thinking that's just ridiculous excess. If you calmly talk to the rational conservatives (there are plenty out there, they're just quiet), you can get them on our side on a lot of issues.

[Divine Discontent]

6. exactly. I think many Repubs who aren't teabaggers know this lowered tax rate, while we're at war

is absolutely insane and truthfully DANGEROUS to our future.

Come on US govt - get on it!

[daylan b]

9. Was he in favor of a flat tax?

Because we already have a progressive tax system.

[aquart]

16. Well, we used to.

Ain't particularly progressive in any respect these days.

WTF happened to the graduated capital gains tax? You know the one where you were penalized for speculation and rewarded for holding on and having faith in the future?

[daylan b]

23. Seriously?

Have you not even looked at the tax brackets? Are you completely ignorant of who the vast vast majority of the income tax comes from?

Regarding capital gains, I addressed that in another reply in this thread. It's what needs to be focused on rather than income tax.

[Uben]

7. Aint never gonna happen.....

...as long as they have the USSC in their back pocket. The rich have too much power and influence.

[Donnachaidh]

8. and hit the companies importing cheap assed junk from China with TARIFFS

Walmart needs to be taxed to death.

[Divine Discontent]

11. see, you state things that I know for a FACT most people are for - and yet, we're having to scream

this stuff to be heard, while nutty teabaggers complaining about health care for the poor are giving top news billing for a few of them showing up bitching about the "dictator"

[daylan b]

10. CAPITAL GAINS

Why is it that people focus on taxing the rich by increasing the marginal tax rates when it's CAPITAL GAINS where the true tax advantages of the wealthy come into play?

Giving what amounts to a tax break on income because you didn't directly work for it is insane.

[Divine Discontent]

12. your point is strongly taken - good post, thank you!

[daylan b]

14. Income Tax

Which is what most people focus on is already fairly heavily slanted toward putting the burden on the rich. The stats comparing the top 5% to the bottom 50% in what they contribute by way of income tax is well known.

I just don't know why people still focus on that when the true benefit of being wealthy is passive income from investments which are inexplicably taxed at 10-15%.

[angstlessk]

15. YES..PASSIVE INCOME...WHAT YOU DON'T WORK FOR....

IT IS TAXED AT A LOWER RATE THAN WHAT YOU ACTUALLY WORK FOR..INCLUDING BLOOD, SWEAT AND TEARS! (SEE THE BLANKENSHIP MINE FOR EXAMPLE)

[avaistheone1]

17. Yes, that is true.

People who live off their trust funds, hedge funds managers etc - get taxes at 15%.

And they probably don't even pay that much tax.

[Zippy120]

18. I think rich people should be taxed more than they are...

and poor people should be taxed less.
:)

[Divine Discontent]

19. It is only just, I agree. If they lived elsewhere they'd pay much more, and yet, any amount of raise

in taxes or capital gains taxes, and they throw a super hissy fit through their talking heads (which are the GOP congress and most of the MSM!)


OH, Welcome to DU! :hi:

[amborin]

20. K&R

[Wilms]

21. k&r n/t

[Hannah Bell]

22. k/r