Did you Vote?

[Shaden]

Who else needs a tax cut? The rich are paying all the taxes. Yay success tax.

Ah, so you must be one of the multi-millionaires who is receiving a tax cut currently.

Which immediately invalidates everything he says without regards to merit, AMIRITE? Was there a point here? You do realize that "the rich" includes businesses, which do not pay taxes anyway, right? Do you know what I mean when I say businesses do not pay taxes?

We're not talking about small businesses here. We're talking about people making over $250,000 a year. And the Bush tax cuts affect--hugely disproportionately--the top 5% of the population. We're talking about people making millions of dollars. So unless you're planning on breaking into that multi-million dollar tax bracket, why are you so upset about the "success tax", as you call it?

The principle of taxation is simple here. There is a certain amount of money required--by necessity--to survive. Those on the lower end of the income spectrum need that money to survive, and taxes necessarily comprise a much higher percentage of their income, so their tax burden is higher than that of a multi-millionaire, who owns 12 houses. There's a difference between necessity and luxury. Similarly, the poor tend to have no savings and spend their paycheck--almost all of it--every month. So giving the poor a tax break leads to them spending more of their income.

Meanwhile, "the rich", who are in no danger of starving or trying to figure out how to put their kids through college end up shouldering a larger percentage of the tax burden. So, okay, a person who makes $20 million a year is now paying an extra $200,000 a year in taxes. Boo hoo for them. Do you really expect anyone to get up in arms about this "success tax"? The truth is, those who are 'successful' don't get there all by themselves. AIG, the company we're currently bailing out to the tune of billions of dollars, still has CEOs receiving lavish salaries and severence packages while the company that they are running is going belly up. The growing disparity of wealth in this country between the rich and the poor is only increasing, and few but the truly selfish would consider this a GOOD thing. What AIG and others are forgetting is that their wealth comes on the backs of their employees--working-class people who struggle every day to feed their families and make ends meet. Those people are the ones who need the tax breaks. Or to put it another way: 95% of this country (including, I suspect, everyone on this forum) deserves a tax break. The richest 5% clearly need it the least of any of us.

Finally, the Bush tax cuts were passed prior to a war with Iraq. This is the first time in the history of this country that taxes have been CUT during a war. This fiscal irresponsibility is a hallmark of the current economic trouble we find ourselves in, and why our national deficit has doubled over the past 8 years, at 10 trillion dollars and counting. Somewhere, sometime, at some point--people are going to have to get over their kneejerk terror over "OMG taxes" and realize that a tax is your patriotic duty as a citizen--and during a time of economic woe, I don't think you're going to find too many people who will support the ludicrous assertion that taxing those with their own private jet is a "success tax".

As for businesses not paying taxes, are you referring to the 60% of US Companies that pay no taxes, either due to tax loopholes or overseas tax shelters? I believe these loopholes should be closed, and incentives for keeping jobs and corporate headquarters in this country should be rewarded. Doing so would decrease the overall tax burden on the American people. But one thing at a time, starting with reversing the disastrous Bush tax cuts for the rich.