Taxes should be 5% below $250,000, and 95% above $250,000
American American
5 million people make more than $200,000. Those 5 million people pay
approximately $530 billion in taxes and walk away with $1.5 trillion
in after tax profits, while the 105 million people making less than
$200,000 still pay $550 billion in taxes, for total tax revenue of
$1.08 trillion. Obviously those making over $200,000 could pay another
$550 billion in taxes and still walk away with a trillion after taxes.
Leaving everyone making under $200,000 tax free.
Even if that is all that were changed, it would merely correct the tax
code, it would not yet serve to correct the disparity of incomes.
For every one person who makes $2 million a year, 10 people could make
$200,000 per year but go unemployed and make Zero. 120,000 people make
over $2 million per year. They make an average of $5.8 million a
piece. Collectively, their pre-tax incomes are about $700 billion. For
this, 3.5 million people who could make incomes of $200,000 per year
go unemployed and make Zero.
If you put a maximum wage at $2 Million, there'd be 120,000 x
$2,000,000 = $240 Billion from $700 billion, or $460 billion, still
enough for 2.3 million people to make $200,000 per year. Or 9.2
million people to make $50,000 per year, and end unemployment
completely in the United States.
We should put a 95% tax rate above $250,000, and 5% tax rate below
$250,000. As the all taxes fall partially on the payer as well as the
payee, this will lower salaries but raise after tax incomes.
Businesses will have more money to hire more people. This should
stimulate the economy, and then raise salaries.
To clarify, if you make $300,000, you would pay 5% on the first
$250,000 = $12,500, and 95% on the last $50,000= $47,500. This would
create a better incentive and better livelihoods for the 95% of the
workers in the economy who would have a higher likelihood of earning
closer to $200,000 with a lower tax rate and higher salaries at the
bottom. And more would be produced if 9 million people were employed.
Under this plan current tax revenues stay the same.
Property is not absolute. At a certain point, your money is not just
for you, but for everyone. This point should be institutionalized by
the government so that the rich know how much is right to take. Public
legislators work for less than $200,000 and are supposedly altruistic.
Businessmen making more than $250,000 should be altruistic also. The
point remains, perhaps some argue it should be set higher than
$250,000, but no way is it higher than $3,000,000. Furthermore, it's
merely an question of hourly wage. Those who argue the rich work more
hours.... then make it dependent on how many hours one works as well.
A maximum wage of $100 an hour could work, you could still earn
$400,000 if you work 80 hours per week. But I thought the 95% tax rate
better, as it keeps the money going to the government. If there is a
100% tax then all the money goes to the businesses, which is good if
it allows them to hire more, but the government needs tax revenues to
lower taxes below $250,000. If the money goes to the businesses to
increase corporate profits it will only be taxed at the corporate
rate.
See: irs.gov/taxstats/indtaxstats/article/0,,id=96981,00.html
PaxPerPoten
Don't you think that a roughly $3.5 trillion Federal budget is
excessive? That expenditure comes out to about to over $10,000
this year for 340 million Americans. Our tax collections etc come to
roughly $2.2 trillion. That means that we have to borrow roughly $1.3
trillion to make up the difference. The $2.2 Trillion that is collected
when divided by roughly 150 million actual taxpayers comes out to
roughly $16,000 dollars per hard working taxpayer. Now do you really
think our (expletive) overprice Government is worth that kind of blood
sweat and tears. We gave Israel the net amount of roughly $900 for every
man woman and child in Israel and what did we get in return?
We got 24 Jewish Senators 46 Jewish Congressman and a debt that we can
never repay. When Mr Obama-nation attacked Lebanon(for no good honest
reason) The first four hours expanded over $100 million in cruise
missiles alone. It took out of our economy millions of gallons of
refined fuel and drove fuel prices up. It damaged our world wide
credibility when Obama-nation and Hitlery blackmailed NATO into this
Non-Nato treaty affair. When we need those folks, they ain't gonna be
there. Every Representative that voted for this budget and *did not*
call Obama to task over sending troops, war materials and bombers to
Libya, should be horsewhipped and purged from office at the end of a
rope. They are murdering ME civilians by proxy and in the name of the
American people.
--
It is hardly too strong to say that the Constitution was made to guard
the people against the dangers of good intentions. There are men in all
ages who mean to govern well, but *They mean to govern*. They promise to
be good masters, *but they mean to be masters*. Daniel Webster