American voters increasingly want to tax the rich more
A a recent Fox News survey of 1,008 registered voters found that 70% of Americans — including 54% of Republicans — are in support of raising taxes on those who earn more than $10 million.
S E E D E D C O N T E N T
Rep. Alma Adams D-N.C., left, with Rep. Alexandria Ocasio-Cortez, D-N.Y., smiles during an event to advocate for the Paycheck Fairness Act on the 10th anniversary of President Barack Obama signing the Lilly Ledbetter Fair Pay Act, at the Capitol in Washington, Wednesday, Jan. 30, 2019.(AP Photo/J. Scott Applewhite)
Research by Yahoo Finance and others previously indicated that many Americans feel Trump-era tax cuts disproportionately benefited corporations and the wealthy. And a recent survey of 106 National Association for Business Economics members found that 84% of respondents said that “the 2017 Tax Cuts and Jobs Act has not caused their firms to change hiring or investment plans.”
Not everyone agrees with raising taxes on the rich. Larry Kudlow, a top economic adviser for the Trump White House, recently told Fox Business that taxing the rich “never works” and that it blunts innovation.
On the other hand, billionaire and legendary investor Warren Buffett believes that higher taxes would actually help create more people like himself.
“I was lucky enough to be born into a time and place where society values my talent, and gave me a good education to develop that talent, and set up the laws and the financial system to let me do what I love doing—and make a lot of money doing it,” Buffett said according to “The Audacity of Hope” by Barack Obama. “The least I can do is help pay for all that.”
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On the other hand, billionaire and legendary investor Warren Buffett believes that higher taxes would actually help create more people like himself.
“I was lucky enough to be born into a time and place where society values my talent, and gave me a good education to develop that talent, and set up the laws and the financial system to let me do what I love doing—and make a lot of money doing it,” Buffett said
Buffett expressed the same sentiment more bluntly in a 2011 op-ed in the New York Times , writing: “My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.”
Not sure Americans want to tax the rich more. Rather it may be that Americans would appreciate that those who receive the most bounty share in the cost like everyone else.
I'm part of the thirty percent with good morals that know theft is wrong.
There is so rarely any effort to spend less. I might be more sanguine about raising taxes if I thought discretionary spending were rooted in thrift, wisdom, and restraint. But, of course it's not. The larger problem - percentage-wise - is mandatory spending . It's 2/3 of the budget, gets larger all the time, and is almost impossible to cut given the laws protecting it. If we put some effort into actually bringing medical costs into line with the rest of the world, we might be able to something about that.
And just how would we do that?
(BTW, I agree that that should be a priority, but I would like to hear answers from other people as to how to do that).
I hate to say it, but it may require market controls that I wouldn't normally favor. The nature of medical expenditures is such that one party (the patient) doesn't really have a choice as to whether or not he will participate in the market. Therefore, he has no negotiating power to influence prices. Providers can charge what they like.
I hate to say it, but it may require market controls that I wouldn't normally favor.
It really does kill you guys to admit that the rest of the developed world is doing it the right way, huh?
I don't know who "you guys" is, but nothing is killing me and I don't have any ego about what the rest of the world is doing.
Oh, right - you're so centrist! /s
Just look at your comment. It literally pains you to admit that allowing the fox (medical industry) to guard the henhouse (healthcare) is bad policy. It is the eternal rallying cry of the right to maintain that broken system.
But I'll take it, at least the reality is reaching more of the collective consciousness now. Maybe we've reached the tipping point and the gop sees the writing on the wall. I don't think I've seen that reasonable of a comment from tacos on the subject before, so its progress.
I don't understand you. Rather than discuss my comment you want to punish me for it. Why are you here?
It's not like it's a new revelation for me. Virtually everything in our so-called "free market" is regulated in some way. Some industries need regulating more than others.
To clarify, you routinely fall in with whatever the right considers doctrinal 99% of the time. On that rare 1% occasion where rational thinking takes over, just admitting it is like having a tooth pulled for you. However, like lib says - I’ll take it. Baby steps ...
You really don't have a clue what you're talking about and I don't see why I need to be the topic of conversation or why I need to prove what's in my heart to you.
" I was lucky enough to be born into a time and place where society values my talent , and gave me a good education to develop that talent, and set up the laws and the financial system to let me do what I love doing"
Good Times, Good Times !
Now ?
NOT SO MUCH.
Of course.....Warren has already made his mega bucks, so what the hell does he care what happens to everyone else.
Try doing some research. He is giving away 99% of his money. It will all be distributed within 10 years of his death, and he's already giving away plenty. So clearly, he DOES care what happens to everyone else.
I get so tired of people posting things that are so clearly lies, when it's so easy to just do a simple fact check.
He will "Clearly" CARE about everyone else, "AFTER" his death , and they still have to wait at least 10 years after that.
I donate to charity too !
You're not even worth talking to, since you refuse to ever learn about something before you form an opinion and start throwing emojis around. Too bad there is no "ignore" feature here.
Yet here you are, "Talking to me" ……….. AGAIN !
Weird !
Reality sucks for some. Are you a "Kneejerk" nuclear re- ACTOR , or a "Realist" ?
There is, you just have to go old school.
When you want to ignore someone, you simply ignore them. No radio buttons to click or settings to set. Just do it.
Amazing tech eh?
Here’s something that doesn’t get mentioned as much as it should: the growth rate of executive pay vs laborer pay over time and in comparison to the rest of the developed world. Yeah - we want some of that obscene wealth to fund public causes. Money is a finite resource. When one entity ends up sucking in 200 times as much money as it did 50 years ago for doing the same job, it’s the laborers who end up on the shitty end of the stick. CEO pay is outrageous in this country.
Actually, it's not. The Federal Reserve created a new $1trillion/yr out of thin air during most of the Obama Administration.
In theory the US cannot go bankrupt, and as a last ditch fail safe method, printing money as a way out of a debt crisis is a viable option. But it would be an extreme solution, because while money may not be finite, the worth of it certainly is.
Imagine everyone in America made a million dollars a year income. Would a dollar be worth then what it is now, or would a loaf of bred cost 7 dollars and a gallon of milk 9 ?
The idea that everyone can become wealthy if they work hard enough is an absurdity, because there is a practical limit as to how much "money" can be obtained by the public at any given time. As Hal said, when the CEO's take more, the laborers get less. It not only makes sense logically, it is what happens.
No it's not !
Remedy;
Stop buying Shit like the next and greatest (pfffffft) $ 1,000.00 iPhones as a "I gotta have it NOW" moment, when you can't afford it. Buy it when you can afford it !
Ooooooo….lookie what I got ! Can't pay the rent, but I gots me a cool cell phone.
There are PLENTY of CHEAPER cell phones out there in this great little world of ours !
Think about something FOR ONCE ....you gots that really cool thousand buck phone that you can show all your friends, but a Billionaire just sold it to YOU !
But Billionaires SUCK.....huh !
Not everyone.....anyone. Anyone can become wealthy if they are smart, disciplined, and work toward that end.
Labor is a commodity subject to supply and demand, just like everything else.
Tax them more? That's a really good way to send even more of them offshore to tax havens and will probably have negative results for doing so.
Tax them more? That's a really good way to send even more of them offshore to tax havens and will probably have negative results for doing so.
I think its a matter of degree.
Strangely, some people argue for a YUGE tax increase on the wealthy-- others argue there should be no tax increase.
People seem to ignore the possibility of a tax increase for the uber-rich but one that is relatively small.
The problem is democrats want to tax people making as little as 300,000 like they are uber -rich whatever the fuck that means to a democrat.
Link?
Who gave you permission to go around posting rational, sensible stuff without any regard to people's "feelings"?
All these people who just hate rich guys...how do you think they feel now? Did you even give one thought to them?
Besides, it's not like rich people can afford to move wherever they want.....
Oh.....
Wait.....
LOL. A very good old friend and client of mine sold his business for 7 million dollars, moved his fortune to the Cayman Islands, his banking to the Channel Islands and moved himself and his wife to Barbados and said screw Canada's taxes.