47% Of Americans Want To Redistribute The Wealth

B

bugscoe

...because they aren't paying for anything.

‘Share The Pain’: MSNBC’s Mika Happy 47% Of Americans, Ironically Same Percentage Who Don’t Pay Any Income Taxes, Want To Redistribute The Wealth By Heavily Taxing The Rich

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What is astonishing is that it was the Republicans in the mid '90's with their "family values" thingy that set up the new tax regime.
 
actually i prefer margaret thatcher's famous quote on the subject:

"The problem with socialism is that eventually you run out of other people's money [to spend]."
 
Quote from bugscoe:

...because they aren't paying for anything.

‘Share The Pain’: MSNBC’s Mika Happy 47% Of Americans, Ironically Same Percentage Who Don’t Pay Any Income Taxes, Want To Redistribute The Wealth By Heavily Taxing The Rich

<iframe title="YouTube video player" width="480" height="390" src="http://www.youtube.com/embed/Swf4fWzdG5U" frameborder="0" allowfullscreen></iframe>
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Ugh, you had to post that didn't you. That's OK. I didn't really need to keep my breakfast in my stomach. There's always lunch.

So the rich pay what....90% of all the taxes in this country and that's not enough? How about this statistic. If the US Government raised taxes to 100%, in other words, took all the income away from everybody, it still would not pay off the debt. Wake up folks.
 
Quote from Maverick74:

Ugh, you had to post that didn't you. That's OK. I didn't really need to keep my breakfast in my stomach. There's always lunch.

So the rich pay what....90% of all the taxes in this country and that's not enough? How about this statistic. If the US Government raised taxes to 100%, in other words, took all the income away from everybody, it still would not pay off the debt. Wake up folks.
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Yeah, sorry.

The entire unfunded future promises of American largesse are roughly $113T.

According to Internal Revenue Service data, the entire taxable income of everyone earning over $100,000 in 2008 was about $1.582 trillion.

Add in the rising number of people not contributing...

In liberal speak/math, this is easy to solve, we just need to tax the rich.
 
Quote from bugscoe:

Yeah, sorry.

The entire unfunded future promises of American largesse are roughly $113T.

According to Internal Revenue Service data, the entire taxable income of everyone earning over $100,000 in 2008 was about $1.582 trillion.

Add in the rising number of people not contributing...

In liberal speak/math, this is easy to solve, we just need to tax the rich.
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In other words, if Odumbo taxed all income over $100K @ 100% tax rate, that would ALMOST offset the deficit??
 
Quote from Scataphagos:

In other words, if Odumbo taxed all income over $100K @ 100% tax rate, that would ALMOST offset the deficit??
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Almost. And then you'd need another 70+ plus years to break even on the entitlements. Assuming all rich people would have no problem living income free for that long.
 
Does that include the 47% of Americans include the 45% of Americans (69 million Americans) that don't owe any income taxes?
 
Quote from bugscoe:

Almost. And then you'd need another 70+ plus years to break even on the entitlements. Assuming all rich people would have no problem living income free for that long.
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Our current account deficit is almost 14 trillion. So, it would pay off only less then 10% of the current account if we raised taxes to 100% on everybody.
 
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