Taxation can fix everything.

[William Hogan]

Did you know that raising taxes on the rich (those who make $250,000 or more a year, according to Barack Hussein Obama) will solve every problem this nation is currently facing? Did you also know that a windfall profits tax on oil companies will make the energy crisis seem like a thing of the past? It’s amazing, I know…

The Democratic Party is supposed to represent the interests of the working class, right? How exactly does dragging down the successful help the working class? Why not lift everybody up instead of dragging everybody down?

Well…?

[Scaybeeez]

The rich have seen their taxes decreased dramatically since the early 1950s.  Even with Obama's proposed increase, they paid significantly more in the past, so why all the whining?

[Peter1469]

The federal income tax on the “wealthy” was confiscatory until the Reagan cuts.  The question we must ask is why do the “wealthy” pay a different tax rate that everyone else?  Many other economies have a flat tax.

Obama should be careful- there are many regions of the country that do not consider $250K per yr to be wealthy.  Many people who would otherwise support him may not be able to afford it.   

I have never heard of a poor boss, so you better not take so much from the “wealthy” that they decide to not hire employees. 

[Scaybeeez]

I've got to admit that my knowledge of the tax systems in other countries is pretty lacking.  What are some countries that have implemented a flat tax and how has it worked out for them?

[they call me MR. GRUMPY god damn it!]

cut discretionary spending 5-10% immediately, impose flat tax for the current system, revisit the constitution and limit govt to the scope of it's authority.  likely we will find that we have more than enough money and the govt as it is today, will be awash in revenue. 

[Peter1469]

Several Eastern European nations are moving toward the flat tax with impressive results. http://www.csmonitor.com/2005/0308/p01s03-woeu.html


Russia has had great success with it. http://www.heritage.org/press/commentary/ed032403.cfm

[spunkloaf]

cut discretionary spending 5-10% immediately, impose flat tax for the current system, revisit the constitution and limit govt to the scope of it's authority.  likely we will find that we have more than enough money and the govt as it is today, will be awash in revenue. 

Good call.

[Feuillade]

The rich have seen their taxes decreased dramatically since the early 1950s.  Even with Obama's proposed increase, they paid significantly more in the past, so why all the whining?

This is true. During World War I, the highest bracket was 77 percent. During World War II, it was over 90 percent. If I’m not mistaken, the highest bracket now is 35 percent. It was almost 40 percent during the Clinton administration.

[Peter1469]

I think that you have those numbers correct.

With the number of small businesses in the US (as compared to WWII) such rates would destroy our economy today.