Lefty vs. Mitt vs. “the rest of us”
Ok, so I’m not an accountant – let’s get that straight. But I found this ARTICLE interesting on “who” and “what” the US Government currently targets for taxes. In the final analysis, it’s not too surprising to see that wealth is taxed at a much lower rate than work, but it does make for a very interesting look at stratification. Thoughts?
I thought the article was interesting, however I do not know much about “how” or “why” taxes are so different for different people. But I do think that taxing the wealthy with higher percentages is appropriate because the lower/middle class workers who pay taxes for the amount of income each year, I think would all be equally divided out for Government. After all, our taxes do pay for many important things to help society pushing forward; such as schools, military funding, highways, and so on. So I think that if people are very wealthy, then be more aware of the higher rates. People can’t have everything in the world be all smooth sailing. But I honestly don’t know enough about the subject so this is just a small opinion.
I completely agree with the author of this article. I also believe that we should tax more on spending, compared to income made from working. For all the working class families that work hard for their money, and spend little (perhaps only essentials, such as food, clothes etc.), they are still being taxed harshly on the money they earn, which leaves them in a constant battle to stay afloat in our society. I am not however, saying that all taxes from work should be removed, I am just arguing that more of an emphasis should be placed on taxing the spending end of the spectrum. Therefore, if Phil Mickelson wanted to buy a corvette, or a huge house that would be taxed much more harshly. I would presume that we could then tax the “wealth” more than the “work” aspect and that everyone in a sense could be winners from this perspective. Although, for people familiar to the system such as Romney, i’m sure there will always be legal ways to lessen taxing.
I don’t know a whole lot about taxes, and spending. However, I do think that the wealthy government is greedy. It doesn’t make sense to tax people with lower incomes at a higher rate. People such as Mitt need to have an increased tax rate and stop being so greedy. As far as the fear of giving celebritites higer tax rates, I think that they need to get off their high horse and realize they are just people, the same as everyone else. I know that taxes are important to our society as they do pay for many imortant things, however greed seems to be quite prevelant in our society as well and it’s an unfortunate thing to tax low income familes with much higer rates than the wealthy people of society.
This article was easy and interesting to read, kept my attention and made me want to learn more about taxes, who pays what amount and how do the rich escape certain taxes. Even though I have very little knowledge on taxes I found a couple things in this article that I agreed with; such as taxing the rich on their spending and not the “work” they may do. As stated then we could raise taxes and we wouldn’t run into the rich fleeing. Personally if anyone is spending and making over 10 million they are more than capable in paying more taxes for forced to give back to their country or community.
I agree with what the author of this article is saying. I think the working poor should receive the most tax cuts and tax breaks because they are the one’s that need it the most. People like Phil Mickelson, who also work for their money, shouldn’t have to pay higher taxes then people who inherit money and don’t have to work at all for it. We should be taxing the wealthy, not the working. I am not great with numbers, but if we were to tax more on people like Mitt Romney whose estimated personal fortune is at $250 million than single parents wouldn’t have to pay rates as high as 90% when they can’t afford to do so while Romney obviously can.
After reading this article, it seems incredibly unfair to tax people who work hard for their money as opposed to those who just get money handed to them for being the heirs of someone rich. I agree with the author that more emphasis should be placed on taxing those that are just wealthy as compared to those who work, save and only spend money on necessities. It puts a lot of stress on those who are just making it by and then taxes come around and basically clean their bank account out. Obviously those who are rich without much work could afford to give the government some of their money to better the community and society that we live in.
Good. It just shows that are system is in place to keep the working class in check and so that the ruling elite can keep their power. The old money of this country has the power and always will. Only if the people stand up will this change. In the year that I was born over all taxes was only 5% of the income earned. Well that was in 1963, since than we have been weaned into more and more taxes.
I really am not a fan of talking about politics and taxes, etc., because it never ends well. I’m always in disbelief at just how ridiculous we are. One of my biggest issues with this is how excessive these people’s lives are. 14 million dollars, 60 million dollars, and they’re complaining!? How much money could you possibly need? I’m sure you live more than comfortably regardless of the taxes you pay. It’s embarassing seeing that we are taxing single parents and the working poor at a rate of approaching 90%, all while people making millions upon millions of dollars are getting the biggest breaks. Maybe I find this especially frustrating because my semester tuition is due tomorrow and I’m a college kid in debt, but come on! I don’t understand why Romney or Mickelson feel that they still need more. I get it, you’re millionaires, which is fine. Congratulations, but explain to me why you think you’re above the same rules and rates that a working single parent is.
The article gave me a new perspective on the effects of taxes and who exactly the higher tax rates really get affected. I don’t know much about the taxing of the rich and wealthy but I do think that it is unfair for someone who has to pay more in taxes because he earns more money than those who are already wealthy or those who participate in the “buy/borrow/die”. I am in complete agreement with this author when stated that “we are taxing the wrong thing, in the wrong way…we tax work, not wealth. This is backward”. If we continue on this road, the people that are working for their money will start to leave the States to avoid the taxes and that will start to affect everyone and everything, economy wise. I definitely think something needs to change in order for the tax rates to become more fair for the wealthy and the working.
I heard rumors and commercials about Mitt Romney not paying much in taxes but I never actually new the numbers. I don’t understand why some people get taxed more than others. Sometimes I think it would just be easier if we all got taxed the same amount but that wouldn’t really solve our issues either. I can look at Mickelson’s situation from 2 points of view. From a middle class perspective, I believe he should be getting taxed more than the average worker considering how much he makes. Why should we have to scrape by when the wealthy don’t? On the other hand, from an individualistc perspective, I believe that Mickelson worked his way up and made a living for himself. He shouldn’t be punished for his talent. It’s definitely an argument that could go on for a long time. I know that if I was in his position, I would be outraged by how much I was getting taxed.
I completely agree with what the author in this article has to say. His argument is well backed up by his view points and the way he thinks of how taxes should be done. The government really does tax the working, and not the wealth. Romney had no reason to be paying that little of taxes when the lower- class and middle class are being taxed half their income. I agree that this whole way of taxing is being done backwards. I feel this will never change because of the power of the wealthy and the fact that they pretty much run the ways of the governments and have control over most everything and everyone. I definitely think this is unfair, and although I would have no idea how, things need to be changed.