Should the rich pay more taxes?

July 12, 2011

President Obama is trying to hammer out a deal to reduce the U.S. deficit and raise the debt ceiling by August 2, when the Treasury says it will run out of cash to pay the nation’s bills. Obama is pressing for a $4 trillion package that includes spending cuts along with tax increases for top earners.

Proposals include limiting itemized deductions for the wealthy, which could bring in $293 billion in extra revenue over 10 years, and imposing normal income-tax rates of up to 35 percent on hedge fund managers, who now pay the 15 percent capital-gains rate on compensation. This would yield $20 billion. And while it will only reap a modest $3 billion, the Administration wants to eliminate preferential tax treatment of corporate jets. Republicans say they will not back any deal that includes tax increases.

Should the rich pay more more taxes? Take our poll.

[poll id=”23″]


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It’s interesting that this survey shows what I am hearing from most friends and that is that the rich should be paying more in taxes. Meanwhile the REPUBLICANS are saying on national TV that “most Americans don’t want taxes on the wealthy Americans ‘who create jobs’ to go up”. What incredible LIARS they are. And a quick look at historical evidence will show that during the 1970’s (for example) unemployment rates were running 3, 4, 5 % at the same time as the marginal tax rate was 90%. It would seem that there were plently of jobs even during incredibly high taxes. WHY? Well because back then those who created jobs were PATRIOTS who stayed in the USA and created jobs in the USA instead of being TRAITORS who exported jobs out of the country , who hid their profits out of the country and who left the country. Who created the laws that allowed this to happen (ie ‘Free Trade’ (instead of FAIR TRADE)) gee, it was the REPUBLICANS.

Posted by Eric93 | Report as abusive

Nothing like class warfare!!!

How can anyone in their right mind believe that its OK to take something from someone else without their permission to give to someone else?

Some think healthcare is a “right” some think “food” is a right next thing you know “internet access” will become a “right”

What if I wanted to come in your house and take 50% of all your food to go feed the homeless guy down the street that when he does get money he blows it on booze?

What if I came in your house and told you you had to let someone sleep on your couch that didn’t have a roof for their head?

These are extreme examples but the policy is the same, until we educate one another and have a political renaissance where we don’t wish wash on our fundamental philosophies when its convenient to attack someone else, this country will NEVER be the great country it use to be.

and for those of you that think this is a Republican rant it isn’t as republicans are just as bad taking money for needless wars, both parties grow the government, one is in welfare programs that don’t work and the other is in a international empire fighting preventative wars that is making us broke.

Posted by kderentz | Report as abusive

Fair is fair, everyone needs to chip in. Taxes were cut and are the lowest they have been in 50 years for the wealthy and most don’t pay much anyway due to deductions and loopholes. Above all else Americans want fairness and this isn’t it. On top of that it is obvious that the myth of lower taxes to the wealthy generates jobs. Jobs? where are they so far since we’ve had these tax cuts in place since George Bush. The ‘people’ the Republicans refer to are apparently their cronies and special interest folks… just folks really.

Posted by rosielaf | Report as abusive

Facts about the debt ceiling hike.
1. The debt ceiling has been hiked 10 times in 10 years. Has it solved anything?
2. The proposed spending cuts are across a TEN YEAR period in this proposal, but the tax hikes go into effect in ’13. Those spending cuts are dependent on the next congress, and the next to be implemented so what happens every time is that taxes automatically go up, but Congress continues to borrow rather than make any of the promised cuts. Why do you think they are back begging for the debt ceiling hike yet again?
3. This Republican controlled congress was installed to CUT SPENDING, not kick the can down the road. The voters will replace them if they don’t take the task seriously.
4. Even if a proposed $4 trillion package were implemented, the cuts are spread out over ten years. The increase in the debt limit will only get us two more years down the road, so Congress will be back begging for a new credit card in TWO YEARS despite the paltry $4 trillion (and now down to less than $2 trillion).

Washington D.C. is not listening. They fight over minor cuts when the people expect them to slash and burn, seriously reducing spending, getting our financial house in order. We understand this will be PAINFUL. But it’s either face the pain now, or later. It only gets worse if we kick the can down the road.

So to all you Republicans considering a vote to raise the debt limit, I would encourage you to remember why you were elected. A full 60% of the population doesn’t believe the debt limit should be raised. Implement the Full Faith & Credit Act and start cutting. We may not love you for it, but we’ll respect you.

Posted by BeveM | Report as abusive

Grover Norquist, with one vote, won’t be a match for the angry electorate they will face if they don’t compromise.

Posted by YoungerVoice | Report as abusive

Come to your own conclusions, but at least know some facts about the rich & taxes.

Here’s a nice breakdown: 350-9_things_the_rich_dont_want_you_to_k now_about_taxes.html

Posted by gurari | Report as abusive

From today’s Reuters: 07/12/it-pays-to-be-murdoch-just-ask-the -u-s-government/

Why shouldn’t Rupert Murdoch’s companies pay taxes, rather than get PAID taxes?

If some of the just paid taxes to begin with, we’d be better off.

I would probably pay more under an agreement to raise taxes, and I’m still for it. Close the loopholes, too.

Posted by AllForLight | Report as abusive

I appreciate that Obama has moved towards the middle, but this has been mirrored by a concomitant move to the extreme right by a sizable portion of the GOP. I’m not sure why the DNC hasn’t been running ads exposing the cynicism, selfishness, and ignorance of the GOP.

Posted by LobstersGoPinch | Report as abusive

It is not immoral for governments to tax, and it is not immoral for governments to use those taxes to help poor people, if society benefits thereby. That is not the same principle as one individual being allowed to steal from another individual. I am not logically bound to the latter if I espouse the former. Governments are sovereign, unlike individuals, and our government is constitutionally empowered to tax and spend for the general welfare. Most people in this country think it would be fair for the wealthy to pay more in taxes. It is not an immoral belief if it is sincerely thought to be fair. It is, after all, incontrovertible that poor and middle class people live much harder lives than wealthy people do.

Posted by yrbmegr | Report as abusive

Why are corporations excluded from this survey?

GE pays zero taxes and they are one of many corporations avoiding share with the government’s help. Corporate tax departments have become self-named profit centers.

If Congress and President Obama pass the buck to the little guy, I will vote against every incumbent again.

Posted by GSH10 | Report as abusive

Sock it to ’em, Eric93!

Posted by Eideard | Report as abusive

It very politically expedient to say that the rich should pay more in taxes but that falls flat on its face when you look at facts. According to the National Taxpayers Union, the top 1% (households with Adjustable Gross Income or “AGI” above $380 thousand) represented about 38% of all Federal personal income taxes paid in 2008, the top 5% (AGI above $159 thousand) represented almost 59%, and top 10% (AGI above $114 thousand) represented almost 70%.
So exactly how are the “rich” not paying their fair share?

This is the same BS that was spewed last year when tax rates were discussed. The current administration kept on saying that we could not afford to lose $800 billion in taxes over the next 10 years from the “rich” but never mentioned (much less explained) that we evidently could afford to lose $3 trillion in taxes over the next 10 years from everyone else.

Posted by BPearce | Report as abusive

Please define what is “rich”. As an upper-middle class citizen, this talk scares me because I work really hard for my money yet I feel that to some I may be considered rich and I definitely don’t want to give away the money I work my butt off for. My taxes have already increased by 25% due to housing taxes, now the federal wants more!?! If you tax the “rich” more, make sure that rich person has bank accounts with at least 6 zeroes behind the first number.

Posted by Donny2002 | Report as abusive

1. Reduce federal spending.Especially military where not in U.S national defense.
2.Tax adequately and fairly. If all taxes from wealthy in time well runs dry. Think ahead. (Means more than 2,4,or6 yrs.}
3.Concentrate federal spending on education, basic health care, infrastructure. Think about making better living for all citizens. Always think of getting rid of incumbents.

Posted by ed1066 | Report as abusive

Of course and those abusing their powers to prevent ordinary people from getting their rights should be fined; I also believe that those who can’t handle worst of the truth are not fit enough to be leaders or commanders.

Posted by ta-boo | Report as abusive

I am not a supporter of Obama … and with the exception of a couple independent votes, have pretty much voted Republican for the last 35 years … so MY view brings me some personal pain.

We need leadership, and I appreciate the attempts of Obama and Boehner to find a deal that puts all sacred cows on the table. We have a problem … and it is time our leaders stepped up and addressed it rather than point fingers and find fault. It is going to take additional revenue (close loopholes and increase marginal rates for all … but in a progressive way) and spending cuts (which should be a 2X or greater v. the new tax revenues raised.

To our leaders … STOP THE GAMES … GET IT DONE. While I disagreed with Tip O’Neill’s politics, I loved his love of country and willingness to compromise for the good of the country. I hope we are seeing a return to that kind of leadership in Obama and Boehner.

Posted by EJFoster | Report as abusive

We should all pay more. The country is in trouble, it’s our fault. ALL our fault. We elected these people into office, they did what “we” wanted over the past decades, now we’re in this mess. Both parties are responsible. We need to cut entitlements, means test benefits, downsize the military, and restore taxes to pre-Bush levels. Finally, just use the deficit plan laid out by Simpson/Bowles. Wow, this is so simple. I don’t mind paying more in taxes in a short term basis with guarranteed cuts and restructuring of the tax code. Just read the deficit commission plan. It’s all in there, and it would work.

Posted by dbarrycoyle | Report as abusive

The Bush Tax Cuts which benefited the rich disproportionately are the root cause of the high deficits and national debt. If the country is in difficult financial condition why is it so wrong for those who benefited the most and have the financial means to bear a larger burden to pay more? Republicans say higher taxes are not good for jobs. How about the drastic spending cuts they are proposing? Are those good for jobs? Their arguments are false and frankly immoral. They are going to pay a heavy political price for their intransigence. The people are seeing right through their falsehoods and lies.

Posted by amj | Report as abusive

The Tax hikes on the wealthy are but one part of the picture and it is right to identify ‘kicking the can down the road’ as a non solution to the problem.

Republicans were at the helm when there were no taxes raised to pay for the $3.7 Trillion dollar wars. They were in charge when Homeland Defense expanded government at a record pace, without taxes to pay for it, and they were in charge when they passed Medicare Part D, which has hyperaccelerated Medicare costs…again without taxes. All of which ‘kicked the can…’

Add to this a decrease in tax revenue due to the Bush tax cuts, particularly for the wealthy…and the Great Recession for which great shortfalls and massive stimulus were both the result…and it is no wonder the deficit has ballooned to epic proportions.

But blaming Obama for these things is all you hear on the Right…without consideration for or ownership of the largest structural factors involved in the runaway deficit.

So tax those who can most afford it (with ample historic US precedent to justify), but also lower the tax rate on business and close most all loopholes.
Force the return of all US corporations from their overseas tax havens or tax their “imports” to the US until they do.
End the war in Afghanistan and cut war spending.
Restructure Medicare Part D to look more like the VA drug purchase program.
Fight terror using asymetric, intelligence based techniques, not with battleships and tanks.

Posted by NobleKin | Report as abusive

When it is pointed out that Bush’s tax cuts obviously didn’t create any jobs, the usual TP retort is “Class warfare!” OK, let’s get it on, because the rich have been waging war on the rest of us for 30 years, they’re winning, and they know that if enough people wake up, they’ll lose the astronomical difference in compensation they’ve been enjoying FAR too long.

Posted by Quatermass | Report as abusive

I say yes. And i fall into the absurd classification of rich (my wife and I combined earn well over 250k).
My ETR is way too low. I should pay another 5%, either via a rate hike or removing loopholes.

As well, i think people with income over $1MM should pay an even higher rate. HOWEVER, i also believe that tax refunds should be limited to the amount paid.

Posted by GA_Chris | Report as abusive

I think it’s more a matter of closing tax loopholes for corporations and the rich who get tax breaks for yachts and jet airplanes. I’m more concerned about “corporate welfare” as in oil subsidies, farm subsidies, etc. The argument that “family farmers” will be hurt does not hold water. ADM is not a family farm any more than Weyerhauser is a family timber company. Most farms that get big subsidies are farms owned by corporations, not single family farmers who farm their own land like back in the 1930’s.

Posted by neahkahnie | Report as abusive

“What if I wanted to come in your house and take 50% of all your food to go feed the homeless guy down the street that when he does get money he blows it on booze?”

I suppose you think it would be better for someone to come in your house and take 50% of your food to give it to the billionaire up the street who will let it rot in his pantry because he doesn’t need it, as has been happening for the last 30 years?

Posted by 4ngry4merican | Report as abusive

There are so many working class who don’t want to work an extra minute and are out the door at 5pm sharp in their 9 to 5 jobs. Anybody whining for the rich to pay more taxes is probably is a union member or works for the government.

If you’re rich you’ve likely worked harder and smarter than everyone, so why should you foot the bill for the rest of the lazy workforce? As long as your tax rate is fair that should be the end of it.

As long as the rich are not taking advantage of the tax system, the remaining taxpayers should stop asking for free handouts.

Posted by somethingtosay | Report as abusive

I believe the Bush administration set up a system for the rich to get richer. Using wars and tax breaks. I am sure if the financial system had not hiccupped they would still be doing the same thing. Excuse me I made a mistake. They are still doing the same thing with stimulas money and shoring up businesses of questionable morality.

Posted by David123456789 | Report as abusive

The headline reads “Should the rich pay more taxes”. What a joke, that is a LOADED question if I’ve ever seen one! Rich people will say no and middle and lower class people will say yes. Every. Single. Time.

Eric93 doesn’t realize that tax dodging was a national pastime for the rich until the 1980’s when Reagan dropped the tax rate. While one person raves and rants about patriots and traitors, someone else is raving and ranting about union workers demanding $125,000 per year (after benefits and pension) for unskilled labor. Entitlement mentality disgusts me.

Posted by rarn80 | Report as abusive

Flat tax, 10 – 15%, no exceptions for being “poor” or “rich”. No loopholes, no deductiuons for anyone. Everybody pays something. No one would be going through any avoidance scams because there would not be any. The government would probably collect more money, and everyone in the country would be mad if taxes were raised on us all for some stupid idea some pol came up with to try to get re-elected.

Posted by zotdoc | Report as abusive

I too believe a flat tax is the answer with absolutely no loop holes, no write offs, no write downs in income for moving jobs over seas. End all subsidies, especially to oil companies which are making record profits, yet still receiving subsidies??

Also we need to start levying tariffs against all products coming into the country from outside the US. Our corpporations have the right to “off shore” their manufacturing, but I believe if they do, they should either pay tariffs, or sell their products where they make them.

Posted by Robert76 | Report as abusive

The misunderstanding and nonsense in these posts and the misleading way the polling question is asked is astonishing. First, the question is, should the rich pay more in taxes? Fine question, except it’s irrelevent, the administration is not proposing to tax only the rich, these taxes will hit squarely on the middle class. Why? There aren’t enough rich people to go around. Second, comments like the rich don’t pay taxes because of loopholes and deductions is complete nonsense. The whole reason the government is in this mess is because the “rich” pay most of the taxes in America. When the economy tanks, the rich loose alot of money, they may still be rich, but none the less they lose alot. When they lose alot they pay less taxes and our governments reciepts drop significantly. Taxing them more won’t solve our countries problems.

Posted by JMC1234 | Report as abusive

The entitlement mentality and class warfare in our nation has gotten to sickening levels. How does your neighbor or some person in another town being rich impact your life? Why do you care? The vast majority of upper middle class and rich people in America worked extremely hard to get where they are, why is that such a bad thing. It seems like the American dream to work hard and aspire to a better wealthier life has been replaced by the Euro model, work as little as possible and take government hand outs, brought to you buy the small few who still work hard. What a tradgedy. If you don’t like your state in life, get off your rump and do something about it, besides trying to steail it from the next guy through the tax code.

Posted by JMC1234 | Report as abusive

Leave the wealthy with enough money to remain wealthy, and tax them for what ever extra they have. If you want me (an average, hard-working American Joe) to draw a line for you, I will.

There are too many HARD WORKING FAMILIES in this world (let alone in the U.S.A.) who can’t make ends meet. What is the justification in allowing any individual to possess more money than 100 of those families will earn throughout the course of their life-times.

Take your “robbing Peter to pay Paul” sob stories over to China where the uber-wealthy are lauded at the direct expense of the Lower-Classes. The American Middle-Class has been working too long, too hard, and with too little reward to care about St. Peter’s problems.

Posted by William78 | Report as abusive

The rich have gotten away with not paying their fair share since the Clinton era. Good governance costs money and the kind that the rich have been buying with their campaign contributions has not been good for the nation, only for themselves. The entitlements of the rich are out of bounds and out of control.

Posted by seattlesh | Report as abusive

Not only should the wealthy pay more taxes on future income, we need tax increases retroactive to 2001 (with penalties and interest).

Posted by pupplesan | Report as abusive

The sad thing is the super wealthy will just make their residence off shore. The wealthy who are not super wealthy like educated professionals, small business owners, and mid level executives will bear the brunt of the tax increases. There is a huge difference between your family doctor and an NBA star but they pay the same taxes. We need to add a couple more brackets at the top, move back to the Bill Clinton tax rates, change the capitol gains taxes, and close tax loopholes. I want to see spending cuts too and limit corruption by corporations and lawmakers.

Posted by ericcar | Report as abusive

Wealthy politicians sit and debate this question while the middle class in America is shrinking at an alarming rate and the proportion of wealth held by the top 5% of Americans continues to grow rapidly. What really amazes me is how gullible so many of us are when we are told the wealthy need tax breaks to spur investment and create jobs. There is irrefutable evidence today that that isn’t happening. If we don’t change the way wealth is taxed so it encourages investment in technology and manufacturing at home then we will see a two class society in America.

Posted by abkisa | Report as abusive

The only arguement I have against rich people working extremely hard to get where they are is this: Wall Street. Did Bill Gates and Warren Buffet (as two examples) work so hard and got their hands so dirty that you can claim they have rightfully earned every cent of their billions? I say no. Once someone starts gambling (or “investing” as the PC terms goes) on Wall Street they have stopped earning their money. The whole concept of “make your money work for you” is total crap. The only way to truly earn money is if you work for it, not the other way around.

Posted by iflydaplanes | Report as abusive

“There are so many working class who don’t want to work an extra minute and are out the door at 5pm sharp in their 9 to 5 jobs. Anybody whining for the rich to pay more taxes is probably is a union member or works for the government.”
No, the vast majority of Americans who are “whining” for the rich to pay more taxes are Americans like myself who have spent the last decade busting my butt working three and four jobs at a time and still not ever being to get ahead because wages for the lower 90% of Americans have been stagnant since Reagan while the wages of the ultra-rich have increased by double digit percentages.

“If you’re rich you’ve likely worked harder and smarter than everyone, so why should you foot the bill for the rest of the lazy workforce? As long as your tax rate is fair that should be the end of it.”
Lies and more lies. Social mobility in the US is the lowest of any developed nation in the world. What that means is if you’re born poor, you stay poor and if you’re rich, you probably didn’t work harder or smarter than anyone, you were probably born that way.

“As long as the rich are not taking advantage of the tax system, the remaining taxpayers should stop asking for free handouts.”
What fantasy world do you live in where the rich are not taking advantage of the tax system? Warren Buffett has publicly stated on numerous occasions that he pays a lower percentage of taxes than his secretary due to all the loopholes and shady accounting practices available only to the super-wealthy.


Posted by 4ngry4merican | Report as abusive

@JMC1234 said “The misunderstanding and nonsense in these posts and the misleading way the polling question is asked is astonishing” While I couldn’t agree more with the first half of your statement I struggle to see how the question “Should the debt-ceiling deal include any tax hikes for the wealthy?” is in any way misleading. Your assertion that closing loopholes for those earning more than $250k/yr, making hedge fund managers pay the same rates as wage earners or changing the depreciation schedule on private jets will somehow hit squarely on the middle class is absurd and certainly qualifies as some of that “misunderstanding and nonsense” about which you claim to be so concerned.

“Second, comments like the rich don’t pay taxes because of loopholes and deductions is complete nonsense” Oh is it? From the article linked in a prior comment:
“Paulson made himself $9 billion in fees in just two years. His current tax bill on that $9 billion? Zero.”
“I have Donald Trump’s tax records for four years early in his career. He paid no taxes for two of those years.”
“Frank and Jamie McCourt, who own the Los Angeles Dodgers, have not paid any income taxes since at least 2004, their divorce case revealed.”
“In Wisconsin, Terrence Wall, who unsuccessfully sought the Republican nomination for U.S. Senate in 2010, paid no income taxes on as much as $14 million of recent income, his disclosure forms showed.”
Most of the rich do pay taxes, however, the idea that any of them can get away without paying any taxes whatsoever is clearly unacceptable.

“The whole reason the government is in this mess is because the “rich” pay most of the taxes in America.” As mentioned above the top 1% by income did pay 38% of all federal income taxes in 2008. Problem is that personal income taxes in 2008 only made up 48% of federal tax revenue, the other 52% of federal tax revenue is comprised of payroll, excise and corporate income taxes, all of which are highly regressive so they’re always left out ot the discussion by those claimimg that the rich pay most of the taxes. The other blatantly obvious point is that the rich make most of the money so they should be paying most of the taxes.

“How does your neighbor or some person in another town being rich impact your life? Why do you care?” These are among the most foolish questions floating around these days. They are usually accompanied by accusations of envy. The answer is very simple and it has nothing to do with envy. It impacts me because I’m one of the people they’re getting rich off of. And most of them don’t have to work for it, they just happen to be wealthy enough to own things that generate their outlandish incomes for them. Every time I pay the insurance premium for my house or car a bit of that money ends up in Warren Buffetts pocket, not because he contributes any effort to providing my insurance but simply because he owns or lends money to the companies that provide my insurance. That’s not work in my book. And it’s not the fact that Mr. Buffett makes money off of me that bothers me, it’s the amount that I have a problem with.

“The vast majority of upper middle class and rich people in America worked extremely hard to get where they are”. Is that so? There are 60 Americans in the top 200 wealthiest people on the planet according to Forbes. Of those 60, 22 (37%) acquired their wealth through inheritance and 14 (23%) through investments, that leaves just 24 (40%) of them who actually created anything themselves. Taking a closer look at the individuals is even more telling. Bill Gates, Steve Ballmer and Paul Allen all made their billions from Microsoft, a company that has been successfully sued many times for monopoly and other unethical strongarm business practices. A company whose current major competitors product (Linux) can be downloaded for free and provides nearly identical functionality and higher quality by most standards. Mark Zuckerberg just turned 27, exactly how “extremely hard” could he have worked to have earned his estimated $13.5B fortune? I won’t get into the usefulness of Facebook for society at large. All of Facebooks revenues are generated from advertising and even though I don’t use Facebook I have to pay those advertising costs whenever I buy a product from a company that advertises on Facebook. Again, I don’t mind Mr. Zuckerberg making money off the consumers of the world, but $13.5B for creating a web site?

“It seems like the American dream to work hard and aspire to a better wealthier life has been replaced by the Euro model, work as little as possible and take government hand outs”. How much time have you spent working in Europe lately? None, I’d guess. I spent quite a lot of time working in Europe a few years ago and I can assure you that the people I worked with over there worked just as hard or harder than their American counterparts. Apart from this labor productivity in the U.S. lags behind that of many European countries, particularly Sweden and Norway, two of the most socialist governments in Europe.

Misunderstanding and nonsense indeed.

Posted by jtfane | Report as abusive

People continue calling this tax hikes. This is not tax hikes but simply putting the taxes where they used to be before the tax cuts. Those tax cuts were meant to expire in 2 years……not 5.

Posted by carolo43 | Report as abusive

Dear libertarians,

No one comes into your home and takes your money. You live in OUR home–the United States of America. It’s your home, too, and we all pay for its upkeep. But wait, it doesn’t have to be your home. You are free to take yourself off to another country that offers you the ability to act completely unrestrained by government interference. I’ve never visited one myself, but that’s what Somalia looked like in the movie, Black Hawk Down. Write when you get there.

Normal folks

Posted by Sarahinez | Report as abusive

Over the past few decades, Republicans have tampered with the U.S. tax code in an effort to implement a flat tax on income, which is one of the most unfair and harmful schemes available to take money from the poor and middle class while allowing the wealthy to get away with paying much less than their fair share of taxes. Any economist will tell you that a progressive tax system wherein one pays more of one’s income in taxes as one’s income rises is the only fair income tax method. This is so because a flat tax system of say 10% has a poor person making $10,000 a year paying $1,000 in income taxes, while a person making a million dollars a year pays only $100,000 in income taxes. After all is said and done, the poor person only has $9,000 left to live on, while the wealthy person has $900,000 left to live on. Thus, proportionally the wealthy person comes out far ahead of the poor person.

A much fairer tax system would be to have the poor person pay 1% or $100 of his income in taxes, while the wealthy person pays $400,000 or 40% of his income in taxes. Under this system, the wealthy person then has $600,000 left to live on, while the poor person has $9,900 left to live on. The wealthy person still comes out far ahead of the poor person in money left to live on, but we now have a much fairer distribution of the tax burden.

I’m sure anyone given the choice would much prefer to have $600,000 to live on than $9,900. Under the system producing this result, each taxpayer has made a tax payment that is much more in accordance with his means than the flat tax method. This result is also much fairer in that the wealthy person has benefited from the opportunities provided by our country (which are by no means equally available to all), and uses much more resources to support his lifestyle, than does the poor person.

Posted by caliguy55 | Report as abusive

Define rich. $250,000 household income might go a long way in some parts of the country, but it doesn’t go a long way in California and certainly doesn’t make you rich. I agree with the proposals to eliminate tax loopholes and would also like to see tax brackets that reflect the huge variations in the cost of living between different parts of the country.

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