Quote:
Originally Posted by Flames Fan, Ph.D.
I've never understood the point or thrust of this comment.
The rich make the most money, so of course they pay the most in taxes (in absolute dollars). This would remain so even if it was a flat tax / equal percentage for everyone.
So what is the big message behind that comment?
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Well, I realize that.
But there are constant comments about the fact that people like Buffet are paying 15% rates, while his secretary pays 30% rate. Most people seem to think the rich actually have a 15% rate, while the middle class has a 30% rate.
Or is Buffet paying those kind of rates because he can exploit numerous loopholes that rich people like he pressured Congress to create?
And instead of just taxing the rich MORE, why not just make them pay the rates that already exist and remove all the loopholes that give them a huge advantage over people like their secretaries?
Obama comes out and says he wants to increase taxes on people that make more than $250,000 because they can afford to pay more. Well sure they can. But is everyone conveniently ignoring the fact that billions upon billions in revenue is being lost because of the loopholes that Congress created to help rich people and corporations keep their money? Why should a family that has a combined income of $250,000 have to pay more, while GE actually gets a multi-billion dollar refund on their taxes?
Hell, just closing loopholes on corporations was said to increase revenues by up to $600 billion. You could run a second Pentagon with that kind of money.
But no, instead we'll argue over whether or not people who make $250,000 should pay more. Because they can obviously afford too!