The multi-millionaires and billionaires have been reducing their Federal Tax payments since the '80s. During that time, our deficit has grown and grown (other than some of the Clinton/Gore years). This tax bill will be more of the same. Taxes should not be reduced until the deficit is back in positive territory. http://www.nytimes.com/2012/01/18/u...tax-cuts-since-1980s-have-been-gain-gain.html While rates for all American taxpayers have fallen to near 50-year lows, the wealthy have reaped the most savings from the changes because they derive a larger proportion of their income from investments. Between 1985 and 2008, the wealthiest 400 Americans saw the percentage of their income paid in federal income taxes drop from 29 percent to 18 percent, according to data from the Internal Revenue Service. .... One outspoken critic has been Warren E. Buffett, a billionaire himself. Mr. Buffett stirred debate about the issue last year when he wrote an opinion article for The New York Times stating that the low rates for investment income had allowed him to pay only about 17 percent of his income in federal taxes, less than the effective rate paid by his secretary or any of the other 19 workers in his office.
The rich own government. They own politicians. They own this country. THis is why they have99% of all the wealth while the rest fight for scraps and struggle. The Supreme Court failed to protect us like they should, with Citizens United ruling that allows the rich to legally buy politicians. There is no denying it, many republicans have even admitted they have to pass tax cuts for their donors or they will be cut off. My question is, WTF is wrong with the rich? They have more money than they could spend in multiple lifetimes, yet these greedy scumbags want even more? While many families live paycheck to paycheck, or work multiple back breaking jobs and can barely get by? What is wrong with so many people in this country that blindly defend these people an buy the nonsense of "trickle down" even though time and time again its proven to be BS, and all it has done is to transfer all the wealthy to the rich.
A highly graduated income tax is a central plank of communism. Why would any good America support that?
In a world where the rich are no longer rich and live from paycheck to paycheck like the rest of us, who then would pay your salaries?
I'm not opposed to income tax reform, but I'm not crazy about this income tax reform being negotiated by the House and Senate. I'm a budget hawk who would like to see the U.S. balance its federal budget. So if the politicians want to reduce income taxes on the middle class to help them out, I'm OK with that. But I would withhold tax relief for those in the top 10% until the U.S. has a balanced budget and runs a surplus.
I would like to see tax reform which would result in every able bodied adult mandatorily contributed an equal percentage of income or labour, and made the State governments responsible for the collection of all revenue needed to fund the Federal government. Essentially I would begin with repeal of the 16th and 17th amendments.
Correct! And that is why I reluctantly voted "no" in this poll. This version of a 'tax-reform' lavishes an enormous amount of tax cuts on businesses (and those who file as 'businesses'), but it really does little or nothing for anyone else. The theory is that giving businesses (and those who file as businesses) a big tax cut will automatically start a big "trickle-down" effect that will lead to more hiring, bigger wages, etc. -- and that may have even been true back in the 1980's -- but in an age where more and more is automated and being turned over to robots of many different kinds, it may not really be true to much of an extent today. People in liberal-infested parts of the country bitch because they wouldn't be able to deduct their ridiculously high state and local taxes -- but they were happy to vote FOR those big bloated government spending issues and "social programs" precisely because they knew they'd be able to deduct those taxes from what they should owe the FEDERAL government we ALL are supposed to contribute to equally. But watch -- the RINO 'Republicans' will probably cave-in on this and the libs will get to keep on with this practice. The worst failure of the current 'tax-reform' effort is that it does not even come close to getting rid of all the tax loopholes, tax shelters, deductions, exceptions, and numerous 'write-off's'. I'm the ultimate fiscal Conservative, but I'm calling 'bullshit' on this so-called 'tax-reform'.... Somewhat related question -- if the economy is so spectacularly wonderful today, why do we still have mobs of homeless bums clustered in towns and cities all over the United States today...?!
Well as it stands now my family will be benefiting. The doubling of the child credit and standard deductible is a massive boon for us. But that does not solve the massive debts this country is piling up.
The manner in which the IRS "collects" taxes violates the 4th, 5th, 8th, 9th, 10th, 13th and 14th Amendments, as well as the RICO Act. So there is no such thing as tax reform unless and until the IRS is eliminated. Furthermore, the tax code is well over 2,000 pages long and fully understood by no one, including IRS personnel. As such it is void for vagueness even according to SCOTUS.
