Why Aren’t The Rich Paying 50 Percent in Income Taxes?
8th April 2011
Secretary of state and cattle-futures queen Hillary Clinton, super-investor Warren Buffett, and best-selling author Stephen King have all recently carped about how rich folks like them should be paying more in taxes. King recently told a Florida rally, “As a rich person, I’m paying 28 percent in taxes. What I want to ask you is, why am I not paying 50?”
Uh, because you don’t want to? Because you’re not sitting down and writing out a check to the U.S. Treasury, which you could so easily do?
All of the rich people who bitch about not being taxed enough are never confronted with the plain fact that, if they want to pay more to the government, there is no anchor on their asses preventing them from doing so.
And that reveals The Rest of the Story.
They don’t want to pay more in taxes; they want OTHER PEOPLE to pay more in taxes — specifically the ‘almost rich’ that are threatening to encroach on the luxury space of the Really Rich.
If I get a million a year and get taxed at 50%, I still have half a million left. Aspen, here I come! But if I get $200k a year and get taxed at 50%, that leaves me with $100k. Not much you can buy in Aspen on $100k a year.
April 8th, 2011 at 13:47
I pay over 45% of my income to taxes. Income tax. Home ownership tax. Car tax. Sales tax. State income tax. FDIC tax. All these taxes add up to almost half of my income. If my income tax alone were fifty percent I would be paying close to seventy percent of my entire income in taxes. I only make 60k a year so that would really hurt. It hurts pretty bad now when the government is taking almost half of everything I can earn using a variety of taxes.
If only I were a democrat on some sort of welfare. Then I wouldn’t be taxed. There are people on welfare who take more money home every year than I do. But I pay for it. It comes out of my hide. And democrats are determined to make it worse; much worse. THe reckless spending and borrowing has to stop. We have to pay down the debt we already have. We don’t need any more. But democrats don’t care; as long as they get their cut of your union dues they are going to keep giving government sector unions more and more of your money. They don’t care because they get a cut of the union dues up front!
April 9th, 2011 at 05:59
I must admit I support King in this: entertainers should pay 50% of their income to taxes, up to $200,000 a year in income, after which it should be 100%. The whole idea of millionaire (and more) entertainers is offense to my socialist soul. They contribute little of value (it’s entertainment, after all), yet steal money from millions of poor people who confuse seeking the glitter of entertainment with seeking the true goals of life.
April 9th, 2011 at 06:14
You have a socialist soul? What, did Walmart have a sale?
Entertainers steal money from millions of poor people? How, then, do they find the time to entertain? Doesn’t add up.