6 ms·

This is the best lie ever told, "don't worry, these taxes wont affect YOU!". Every new tax inevitably falls onto the middle class, because they can't hire peopl

This is the best lie ever told, "don't worry, these taxes wont affect YOU!". Every new tax inevitably falls onto the middle class, because they can't hire people to restructure their wealth and the poor pay no taxes. Lower taxes makes it less expensive for the rich to pay the government. Look at housing and food costs to see how the middle class are affected, they don't get welfare, social housing, or food stamps.

mhh__ 5y ago
Aren't you completing dodging the fact that the comment/s above you are pretty obviously talking about income taxes? If you are in between (say) my salary and 400k, no amount of increase in the price of food is going to be a problem for you unless you are ludicrously bad with money. I'm not in favour of wanton taxes aimed at "the rich" as a political manoeuvre, but let's not be blinkered here.
- codeecan 5y ago
  "Restructure their wealth" poor phrase. Income isn't only salary, you're getting stocks/options. Consultants, not available to the middle class, can optimize your income. CoL increase maybe not a problem, but its still an increase, if you're trying to tax the rich, you've hit the wrong target. After a certain rate, as taxes rise, revenue falls. Feds keep spending, when they realize projected income will fall short, the goal line moves from 400K to 200K, then 100K, etc. We should lower taxes and close the 1000's of loopholes, I would bet revenue goes up. And I learned a new word today, "wanton"!
hnitbanalns 5y ago
Nailed it.
PaulDavisThe1st 5y ago
>Every new tax inevitably falls onto the middle class, because they can't hire people to restructure their wealth and the poor pay no taxes. That might be true of new taxes/tax increases created by those doing the bidding of the truly wealthy. In fact, it is true. But that's true of all possible new taxes, and increasing taxes on those with earned income over $400k will have ZERO impact on those who earn less (in terms of their own taxation).
- codeecan 5y ago
  I guess my point is those $400K+ people will have more incentive to avoid the taxes, and when theres a shortfall ... the fed will move to taxing the next group down $400K -> 200K -> 100K -> 50K, etc. We should put effort into compliance, instead of increases.

mhh__ 5y ago

Aren't you completing dodging the fact that the comment/s above you are pretty obviously talking about income taxes? If you are in between (say) my salary and 400k, no amount of increase in the price of food is going to be a problem for you unless you are ludicrously bad with money. I'm not in favour of wanton taxes aimed at "the rich" as a political manoeuvre, but let's not be blinkered here.

codeecan 5y ago
"Restructure their wealth" poor phrase. Income isn't only salary, you're getting stocks/options. Consultants, not available to the middle class, can optimize your income. CoL increase maybe not a problem, but its still an increase, if you're trying to tax the rich, you've hit the wrong target. After a certain rate, as taxes rise, revenue falls. Feds keep spending, when they realize projected income will fall short, the goal line moves from 400K to 200K, then 100K, etc. We should lower taxes and close the 1000's of loopholes, I would bet revenue goes up. And I learned a new word today, "wanton"!

hnitbanalns 5y ago

Nailed it.

PaulDavisThe1st 5y ago

>Every new tax inevitably falls onto the middle class, because they can't hire people to restructure their wealth and the poor pay no taxes. That might be true of new taxes/tax increases created by those doing the bidding of the truly wealthy. In fact, it is true. But that's true of all possible new taxes, and increasing taxes on those with earned income over $400k will have ZERO impact on those who earn less (in terms of their own taxation).

codeecan 5y ago
I guess my point is those $400K+ people will have more incentive to avoid the taxes, and when theres a shortfall ... the fed will move to taxing the next group down $400K -> 200K -> 100K -> 50K, etc. We should put effort into compliance, instead of increases.