Romney's Tax Hike for the Middle Class

[ebacon]

So whaddya guys think about Romney's plan to increase taxes on the middle class while giving the rich guys a break?

http://thinkprogress.org/economy/201...xes/?mobile=nc

[hillbilly]

I'd rather see a flat tax for everyone.

Not saying 10% is the choice to go on, but I'll use it as an example.

Say your poor and only make 1.00 for the day, you'll owe .10 cents.

If you make 100.00 for the day you'll owe 10.00

If you make 1,000.00 for the day you'll owe 100.00

If you make 1,000,000.00 for the day you'll owe 100,000.00

Seems like a fair way, nobody gets screwed.

[Oerets]

Like big corporations will ever pay 10% of their earnings.

Plus when you think about it a person making one million a day can handle paying a higher percentage then a person at the lower end of the scale.

Barney

[bhunter]

Originally Posted by Oerets

Like big corporations will ever pay 10% of their earnings.

Plus when you think about it a person making one million a day can handle paying a higher percentage then a person at the lower end of the scale.

Barney

Yes, on the margin a dollar is worth significantly more to the poor than the rich. Where a flat tax rate certainly has a feeling of being just, it inherently hurts those in poverty more than the wealthy. Transferring all tax liability to individuals and away from corporations would give corporation incentive to keep employment here and keep more money expanding the company IMHO. That said, the highest tax rate should be 15-20% and the government's size ought reflect that constraint.

[wgrr]

Originally Posted by bhunter

Yes, on the margin a dollar is worth significantly more to the poor than the rich. Where a flat tax rate certainly has a feeling of being just, it inherently hurts those in poverty more than the wealthy. Transferring all tax liability to individuals and away from corporations would give corporation incentive to keep employment here and keep more money expanding the company IMHO. That said, the highest tax rate should be 15-20% and the government's size ought reflect that constraint.

I actually agree 100%. The cuts in government have to come from all areas of government. military spending is out of control. We can easily do what the founding fathers wanted with some modifications. No standing army.

They like Eisenhower were worried about a military state or a military industrial complex cropping up. Well, it has happened. Just fly out of Reagan international and look at the hundreds, if not thousands, of million dollar mansions owned by weapons contractor lobbyist.

We also have to get control of the too big to fail banks. They play with our money and when things go into the dumpster they get bailed out; we don't.

We need an overhaul for this country.

[JJIII]

Originally Posted by Oerets

Like big corporations will ever pay 10% of their earnings.


Barney

Corporations pay ZERO now. The tax is passed on to the consumer as a cost of doing business. Sure, the books say different but we all know that any cost associated with doing business is ultimately paid by the consumer.

[BlueStreak]

Originally Posted by JJIII

Corporations pay ZERO now. The tax is passed on to the consumer as a cost of doing business. Sure, the books say different but we all know that any cost associated with doing business is ultimately paid by the consumer.

Yeah, we know. And we'd like to see that fixed. Problem is, we won't. Because half the country thinks they pay too much as it is.

Dave

[JJIII]

Anybody ever heard of the "Fair Tax"?

http://en.wikipedia.org/wiki/FairTax

Take time to read the whole thing, especially about the effective rates.

[ebacon]

hehe.

You guys dodged the question.

What do you think about Romney's plan to hike taxes on the middle class and give the rich a tax break?

[BlueStreak]

Originally Posted by ebacon

hehe.

You guys dodged the question.

What do you think about Romney's plan to hike taxes on the middle class and give the rich a tax break?

Every time I think about it I want to crush Mitts precious ones with my Vise-Grips and watch his eyes pop out of his head.

Does that answer your question?

Dave