Posted by Pat Cunningham on Mar 4, 2013 in Uncategorized | 8 comments
I’m guessing that your grasp of the situation was not much better than that of most Americans before you saw this video.
I notice the video doesn’t propose a solution to the problem. Unless he was afraid to actually affirm his belief in the “dreaded Socialism”.
And there is also this:
With Washington gridlocked again over whether to raise their taxes, it turns out wealthy families already are paying some of their biggest federal tax bills in decades even as the rest of the population continues to pay at historically low rates.
President Barack Obama and Democratic leaders in Congress say the wealthy must pay their fair share if the federal government is ever going to fix its finances and reduce the budget deficit to a manageable level.
A new analysis, however, shows that average tax bills for high-income families rarely have been higher since the Congressional Budget Office began tracking the data in 1979. Middle- and low-income families aren’t paying as much as they used to.
For 2013, families with incomes in the top 20 percent of the nation will pay an average of 27.2 percent of their income in federal taxes, according to projections by the Tax Policy Center, a research organization based in Washington. The top 1 percent of households, those with incomes averaging $1.4 million, will pay an average of 35.5 percent.
Those tax rates, which include income, payroll, corporate and estate taxes, are among the highest since 1979.
The average family in the bottom 20 percent of households won’t pay any federal taxes. Instead, many families in this group will get payments from the federal government by claiming more in credits than they owe in taxes, including payroll taxes. That will give them a negative tax rate.
expdoc: he mentions socialist nearly at the beginning of the video. By my viewing of the video, there was no bias here and he didn’t claim to propose a solution (not the point of the video). The simple fact is this: in America, we ARE NOT created equal. You really think that getting into the top 1 percent of wealth, or even the top 10 percent, is about hard work. Nope, it’s mostly about luck and genetics. Someone born to a wealthy family is going to have to work hard NOT to succeed. Someone born in poverty, or even in a lower class, is going to have to have every break and tons of luck just to break the cycle and have ANY chance of getting out of poverty. That’s a statistical fact.
The rich should pay more of their salaries, interest payments and inheritances than they do. They can afford to with little or no impact on their standard of living. Invest that added revenue in infrastructure, education, research, training, health care and other initiatives and we’ll create a better America for EVERYONE, the rich included.
This post relates to the issue at hand:
The 500 plus banks registered in the Caymans must be doing quite well.
I saw on the news this morning that the U.S. has over 200 NEW billionaires. I think the total was something like 466 billionaires. (from Forbes)
Yep, the rich are getting robbed blind. Aren’t they?
Oh, and doc will be glad to know that the Koch twins are both ranked #4 in the U.S., well ahead of his hated George Soros (#15). I wonder which one(s) can buy more influence?
I don’t hate George Soros, I only throw him up occassionally to confound you libs who are convinced that it is only the Republicans who are the party of the rich. Talk about sheeples!
I wonder why you care how much other money people make?
Did those billionaires break any laws? Haven’t most of them given tens of millions if not hundreds of millions to charity?
If you care about money so much, then get a job that earns more or get a second job.
If you don’t care about money, then live a happy life.
I just love riling you self-righteous regressives.
What I said goes hand in hand with distribution of wealth. The regressives are constantly bitching about “wealth redistribution” and the attacks on the wealthy. If that’s true, why are 200+ more billionaires this year than last year? Why are there 400+ billionaires in the U.S.? That’s because what the rightwing has been spewing is total BS. You rightwingers are the real sheep.
Riling in what sense exactly?
You didn’t even answer the questions I posed.
Why does it matter that there are 200 more billionaires this year? Shouldn’t you be happy for their financial success?
Did any of them break any laws?
Simple questions Craig, but no answers from you.
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