Wall Street Protests

[DanaC]

Originally Posted by TheMercenary

Even if you confiscate all the money from the top 1% it will not pay for the spending that has happened since Obama took office. We have become an entitlement society. Everyone wants the federal government to provide everything for them, free healthcare, free education, free, free, free. As long as someone else pays for it. But when you talk about a consumption tax or a tax where everyone pays into it then you get the whine about making someone else to pay. Yea, lets get the 53% who already pay the most pay more, just don't take it out of my pocket. These protests are becoming more comical by the day with some knew rant or some group wanting more...

But you don't have all that stuff for free. And the wealthy haven;t been subjected to higher taxes. What redistribution of wealth has occurred in the last ten years has done so in the other direction. What the protestors are seeking hasn't been tried in America for a very long time, therefore it isn't a 'failed' anything. It's a hypothetical maybe.

[TheMercenary]

Originally Posted by DanaC

But you don't have all that stuff for free. And the wealthy haven;t been subjected to higher taxes. What redistribution of wealth has occurred in the last ten years has done so in the other direction. What the protestors are seeking hasn't been tried in America for a very long time, therefore it isn't a 'failed' anything. It's a hypothetical maybe.

The wealthy pay almost all of the total tax in this country now, federal, state, and local combined.

What are the protesters seeking? There are a hundred answers to that question.

[BigV]

Originally Posted by TheMercenary

The wealthy pay almost all of the total tax in this country now, federal, state, and local combined.

What are the protesters seeking? There are a hundred answers to that question.

I want to say "Liar", but I'll content myself by saying "Cite".

And while you're at it, why don't you give us all *your* answer to your oft-repeated question "What constitutes 'wealthy'"?

Here's my cite.

But how many people know that households making less than $75,000 collectively paid more federal income tax than those making $1 million or more?

Or that income taxed at the next-to-lowest rate, 15 percent, brought in more government revenue than all capital gains taxes plus the two top brackets, which apply only to the top 2 percent of earners?

Or that almost half of the top 1 percent made less than $500,000? Or that five out of six made less than $1 million?

The fact is that the government relies far more on the bottom 99 percent than the top 1 percent for federal income taxes.