Wow... now here's a man with a pair.
Barney Frank says we need an "IMMEDIATE INCREASE IN SPENDING and I think this is a time when deficit fear has to take a second seat. I do think this is a time for a very important kind of dose of changenism. I believe later on there should be tax increases... speaking personally, I think there are a lot of very rich people out there whom we can tax at a point down the road and recover some of this money."
Okay... okay... he didn't really say "changenism"... he said Keynesianism. But come on... how can you tell?
I just love comments on YouTube or under articles. Now admitedly, I am ignorant when it comes to tax laws and exactly how taxes work for those making tons more money than me. Most of my comments are based on simple math.
I obviously don't know what I'm talking about in regards to exactly how much a person is taxed at certain points but I do know this... there are small businesses that already have plans in place for laying people off if Obama becomes president because they won't be able to afford to keep them. That is a huge statement.
There were more comments but I just pulled out what I thought may be found interesting.
If I earn $20,000 and pay 15% but someone earning $300,000 pays 35%... they are paying a larger percentage of their income than I am.
you don't even pay that 15%
You just described the progressive tax system that has existed in America for over 100 years. You earn more you pay more in taxes. Period.
When someone says the rich aren't paying enough taxes, my first question is "how much do you want them to pay"? Let's pretend I earn $250,001 a year and I find out I'm going to be taxed more at that income. The easiest way to avoid it is to earn less. So I might as well just keep my income at $240k and stay right there. All it does is encourage me to succeed to a certain point and stop. It's a way to get people to remain at a level where they can be controlled.
your misunderstanking of tax brackets is not uncommon. The more you earn, the more you'll have in your pockets after being taxed. Therefore it is always rewarding to succeed and make more money.
Point well taken, but this won't be the case necessarily. Suppose you did make $250,000 a year and is taxed more than the average person. Obama's plan would not still hurt the rich, because why???
lol... THEY ARE RICH!
Come on... do you seriously think BILL GATES will suffer under Obama's plan??? The Rich has NO FINANCIAL PROBLEMS with paying tax! But they do have serious problems when low class people, not being able to afford their next meal, steals from them.
I think that's more a matter of being good to your fellow man. Honestly, I would rather be taxed less so I can give more away. I am not in control of how much Bill Gates gives to charities... but if someone who is very rich doesn't want to give away his or her money, should we then tax them for being greedy? That's one of those lines that is hard to find because "greed" can take on several definitions.
Should we tax them for being greedy? Absolutely; that's their punishment. Greed is a despicable human quality.
And it's this last commenter that brings it all out into the clearning. Liberals want to tax the hell out of those THEY feel are greedy or not giving enough to their fellow man. There is no way to determine what is "too greedy" but somehow they have managed to figure out a way.
Anyone making over $250,000 is too greedy and must pay a greed tax.
Gosh... I certainly don't want to pay a greed tax... guess I'll just stay at the bottom of the food chain.
THAT IS WHAT THEY WANT... LOWLY PEASANTS TO DO THEIR BIDDING BECAUSE WE OWE THEM SOMETHING.