Taxes on Rich People?
Out of context: Reply #93
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- ukit0
Seems like this argument always devolves into people arguing whether high taxes are good or bad, in the abstract.
At the end of the day, we are going to have some kind of taxes. The question is where the appropriate rate is, especially for the top bracket.
The current debate, for instance, is whether we should increase the rate from 35% to 38%. That seems perfectly reasonable to me at a time when we are sliding into massive amounts of debt.
You can see the effects of a tax-the-rich or don't-tax-the-rich policy over the past 50 years. 1950s-1970s, there was extremely high taxes on the rich and there was an extremely comfortable middle class with a high standard of living. People had very little debt and it was easy to buy a home and raise kids with just one parent working.
1980s - present, we have had much lower taxes on the rich. The effect was been that wealth has become highly concentrated in the top 1%, and actually the top 0.001% of society. Most families have a high amount of debt, and both parents now have to work to afford a comfortable lifestyle.
Saying that the rich should pay more doesn't mean you hate the rich. It's just being realistic about how society should be structured so that the majority are able to live comfortable lives.
- I don't think these morons will still get ukit, sad but true.********
- I don't think these morons will still get ukit, sad but true.