wealth distribution

[Caoineag]

Given that almost any government program is a wealth redistribution, I have to say yes, I do believe in it to a certain extent. I am glad that the top tax bracket is no longer 70% as it once was in the past but do think there should be a slightly progressive nature to taxes (without loopholes).

I believe that certain people will never be productive members of society whether through their own fault or pure luck and its in the best interest of society that they be taken care of (whether that's jail, assistance or whatever).

But then I have the bias of knowing that I would not currently be as successful a member of society as I am without the assistance of wealth redistribution. Pell grants and direct subsidized loans along with scholarships I received due to my hardwork allowed me to go to college. Heck even my good public schooling from elementary through high school was the result of wealth redistribution.

[anonymous_saver]

I've always believed in a flat tax for everyone.

Flat tax - Wikipedia, the free encyclopedia

[feh]

I'm curious to know if the people on this board believe in wealth redistribution. Is it ok for higher income earners to have to pay higher taxes than those who make less? Is Obama's plan to increase taxes to 39% from 37% for those that make >$250k ok?

Yes, it's fine by me.

[PrincessPerky]

On the one hand taking a higher percentage form higher income means less, after all how much more can you spend on daily living? ponce you get up into multimillion dollar mansions they are all the same anyway, so why not pay some more to govt?

However as a libertarian, I am opposed to it. While I do see certain low wage earners should be exempt (say under 20K or 30K pay no taxes) I see no reason why 200K vs 500K should be taxed differently. all the complications make it easy to fudge around. if it were flat it would be simple.

I also see no reason to give exemptions for children most folk taking those exemptions are raising future non tax payers anyway (poor have more kids than rich)

[Caoineag]

...

I also see no reason to give exemptions for children most folk taking those exemptions are raising future non tax payers anyway (poor have more kids than rich)

Yes but your fundamental assumption here is that poor give birth to people who will always be poor and the rich give birth to people who will always be rich. This is not always the case and I am not even sure its true the majority of time (I work in a law firm that does estate planning, hence I meet all lot of people where rich=rich and poor=poor does not apply).

Though other than the logic by which you argued it, I agree that people shouldn't be given exemptions for having children.

[PrincessPerky]

Yes but your fundamental assumption here is that poor give birth to people who will always be poor and the rich give birth to people who will always be rich. This is not always the case and I am not even sure its true the majority of time (I work in a law firm that does estate planning, hence I meet all lot of people where rich=rich and poor=poor does not apply).

Though other than the logic by which you argued it, I agree that people shouldn't be given exemptions for having children.

well I was looking statistically, which may have changed since I last looked..and I certainly hope it has.

[belic3000]

flat tax

I favor a flat tax rate. Say 10%. Everyone pays. No refunds. This would include corporations. Put them at say 25%, the economist, would know what rates work the best.
Already see the arguement, that only encourages them to take more profit. More profit for the corporation bigwigs means more tax that they pay. Close off the loop holes.
Now, I am just a small time farmer, lucky to make 30k a year. The farm down the road employes 10 people. But I am betting that with his deductions, cost of fertilizer, employees etc etc.....that I pay more in taxes (percentage wise) than he does. Guess what I am saying, how many of us small time wages earners create jobs for others?
I realize that I did not articulate this very well. I pay my taxes because I have to pay them. I don't begrudge anyone for working hard and becoming sucessful. But, it does upset me when I hear it is patriotic to pay taxes. Yet, these people screaming that it is patriotic to do so are the one using the loopholes in the tax system. The ones that are hiding in tax shelters.

[tripods68]

Does the average American have animosity toward those that earn a higher income.

BTW: I mean no disrespect to anyone on this board.

That's the left Media are the ones pushing this to the American people everyday. They think we as American are so DUMB and NOT see it through

[sweeps]

That's the left Media WING NUT are the ones pushing this to the American people everyday. They think we as American are so DUMB and NOT see through their playbook they "real" socialism view.

If you're going to insult someone, I'd recommend proofreading first.

[sweeps]

I favor a flat tax rate. Say 10%.

If you can make the flat tax rate 10% and pay all the bills, I'm all for it.

[bjl584]

If you can make the flat tax rate 10% and pay all the bills, I'm all for it.

I second this. I don't think our government has an income problem. I think that it has a spending problem. It is too big, too powerful, and too wasteful. If we got back to the original role of the government as outlined in the Constitution, then a 10% flat tax would be more than enough to pay the bills.

[belic3000]

lol. I'm no economist. But the population of the US is rough 303 million, of which 241 million have income potential. Median income is 61,500. If half of those with income potential are married. You have 120.5 million taxpayers paying an average of $6,150/yr. That figures up to $743.5 billion. That does not include corporate taxes, which should up in at the same if not more. Way I am looking at it, that is $1.5 trillion. Majority of taxpayers have more money in their pocket. Corporate taxes could be lowered. Thus creating more jobs at higher wages. Which in turn, produces more tax revenue.
Only one problem with this, the government would have to learn to live on a budget and not on a projection of what they would collect.

[tripods68]

I'm favor of flat tax, but you also eliminate illegal immigrants whom does NOT pay any taxes at all, yet get billions of social services from state and federal government. I rather see a consumption tax that covers everyone, no loopholes at all.

[Merch]

First of all let me comment on Buffet versus secretary, most of Buffet's income is by investments and not actual earnings. If it long term, it is being taxed at a lower rate. So, yes we is being taxed at a lower rate but because of investments as oppose to earnings.

So, there are 2 things here. 1) is the investment tax and 2) income tax. Why not get rid of the investment tax and treat it like normal income?

As for redistribution of wealth or taxes in general, there is a segment of society that can not take care of themselves. For these people SS or other monies are fine. Likewise, there are some states that don't have the population to support there infrastructure. I think North Dakota. There is a basic level of service, medicine, and education everyone should have access to.

By increasing the taxes of the top wage earners, you are giving them less incentive to work harder. Why should I work harder when I keep less and less of that money? The incentive diminishes.

Also 100k salary in NYC or San Fran is very different then 100k in North Dakota or Arkansas. Do we have a geography factor to skew the wages to level the playing field?

I do like simplifying the tax code to X% of your income including investments. I am ok with lower income earners should not pay tax. But I think in general, people need to take responsibility for themselves and not always look for government hand outs.

Just my thoughts.

[disneysteve]

First of all let me comment on Buffet versus secretary, most of Buffet's income is by investments and not actual earnings.

True. Suze Orman frequently says that 99% of her money is in municipal bonds, which generate tax-free income. So even if she pays regular taxes on her annual income, she pays none on what she earns on the bonds. Once you can generate all the money you need that way, taxes aren't an issue anymore. Also, you don't even have to worry about the ups and downs of the stock market because you don't need to take that kind of risk with your money.