Sen. Sanders proposes 5.4% surtax on millionaires. More like this guy, please!

[kpete]

Run time: 03:58 https://www.youtube.com/watch?v=nK8nLppB2tY   Posted on YouTube: March 10, 2011 By YouTube Member: SenatorSanders Views on YouTube: 2970   Posted on DU: March 11, 2011 By DU Member: kpete Views on DU: 3936

 
http://www.dailykos.com/story/2011/03/11/955003/-Sen-Sanders-proposes-54-surtax-on-millionaires-More-like-this-guy,-please!

[rfranklin]

1. Unfortunately most of the Congress are millionaires or...

hope to be soon. This fact, combined with the desires of their paymasters, will doom this to a quick death.

[defendandprotect]

39. But how many Americans are expecting those same millionaires to legislate and vote

in the interests of the general welfare?


:nuke:

[RoccoR5955]

2. Why are there NO RECs for this one?

Are the PAID TROLLS at work here?
Time to out them for what they are.

[think]

5. K & R

It's time for rich to start paying for their wars.....

[madmax]

3. K&R anything Bernie Sanders ;) nt

[defendandprotect]

40. Sen. Bernie Sanders is more of a Democrat than our Democrats and could run on a Dem ticket --!!

[vicarofrevelwood]

4. More like Him Please!

:yourock:

[angry citizen]

9. Sen. Sanders

Isn't this gut beautiful?

[AlbertCat]

6. Good idea...but...

.... before, or actually WHILE they ask millionaires to sacrifice.... individuals to sacrifice... what about corporations that pay little or no taxes? How about a minimum corporation tax? Before or while you tax individuals. How about taxing churches.... or at least businesses own by churches?

I would also point out that being a millionaire is not like it was. 1 to 3 or 4 million only gets one to upper middle class status these days.


But even with my complaints.... this is the right direction if anyone is actually serious about reducing the deficit. Revenue! not just cuts.

But of course they aren't serious. Not even Obama.

[Moostache]

10. I am no fan of this kind of thinking...

Sorry, but the "$1-4M is not 'rich'" meme is total bullshit.

That income puts you in the top 1% of everyone - actually gets you pretty far up that last 1% too.
For every 100 people at random, you make more and have more than 99 of them.
For those same 100, you likely have more than the bottom 50 COMBINED!

This is the same fucking nonsense that allows a jack-off like Ben Stein to pen Op-Ed pieces about the hardships of being him and allows the actual upper class (sorry, but defining yourself down the social strata is not based on relative comforts or the impact that Madison Avenue has had on your self-esteem)to smugly state how difficult it is to "get by" on "only" their bloated and obscene incomes already.

You may be right on a strictly proportional basis that $4M is not a lot compared to $4B, but your $4M is more than most FAMILIES will earn in a LIFETIME....many working 2 jobs, back-breaking labor, soul-crushing hours, time lost from their families and their children forever, their very lives given to support the "profits" of the owners - so forgive me if I am thicl with ridicule and derision at the idea that having that kind of money is not a self-defined "rich".

Try looking DOWN the ladder once in a while instead of obsessing on how much more is accumulated UP the ladder...

[russspeakeasy]

20. You go Moostache...Well said.

[TwentyFive]

58. A person could live VERY WELL off just the interest from $4 million

You could even live off the interest from one million...3% would net you $30 grand income. That's more than many families live on. I'm sure Ruth Madoff lives off the $2 million or so the court left her.

[tclambert]

16. Is that 1 to 4 million in assets, or income?

$4 million in assets can generate a pretty good income (low 6 figures), somewhere in the top 10% of AGI (Adjusted Gross Income (I recently saw a chart with IRS data from 2008 http://www.taxfoundation.org/news/show/250.html)). $4 million a year income puts you in top 1%. AT&T stock pays around 6% dividends, so $1 million could buy you an income of $60,000.

To put it in perspective, the bottom 50% have AGI's under $34,000. The average AGI for the bottom 50% is less than $16,000. The top 25% had AGI's over $68,000. The top 10% had AGi's over $160,000.

Sen. Sanders was talking about $1 million in income.

[AlbertCat]

27. $4 million in assets can generate a pretty good income

That's what I meant. Making 4 million in INCOME is way, crazy nasty rich.

And 4m in assets is a good living.... and should be taxed accordingly.... but it's not Dick Cheney rich.


All this "the rich" are "this that and the other awful thing" reminds me of the French Revolution or something. Just guillotine everyone who is or has anything to do with people richer than you! Even that seamstress who sewed for the rich! Sanders is "rich". Al Gore is "rich" Soros is way rich. Shall we guillotine them too?


My point (lost on "Moostach") was... if you're taxing individuals with cash (and again, you should!).... at least tax corporations with cash too.

[bobalew]

32. Don't guillotine them, Just make them Pay, Including you

if you are at such a point. Just Pay your fair share, as we, the working Class, pay our unfair load of it. The problem we have now is good old Econ 101: If the Upper .5 % of the economy has 40% or greater of the available cash, then the rest of us are in a struggle. A society with correct Wealth distribution does well, and flourishes. The concentration of wealth at the top is a National Security Issue, and Emergency. This is about Power & control by the "Money Hoarders". The rest of us aren't going to take it any more. If you think for once that these jerks are going to deprive me of my Social Security, PAYED INTO at a 13% rate of my LIFETIME wages, They've got another think coming, 'Cause I'm coming AFTER THEM FOR IT, IF IT ISN'T THERE FOR ME WHEN MY TIME COMES TO GET IT! If they think they can get away without properly Responding to the responsibilities of the Generation who paid into it, then THEY CAN PAY US!. Also, If you want to Steal OIL from some other Country, Then THEY CAN PAY for the SECURITY TO DO THAT THEMSELVES!Stop ASking ME to pay for That!

[DFW]

48. In the article I saw, it was for in come OVER $1 million

That seems perfectly reasonable to me. Granted, an extra $54,000 added to your tax bill will
seem like a punishing bite, but you are still left over with a healthy chunk of change, compared
to most normal mortals. Besides, it could always be repealed if the budget ever got balanced,
although without Democratic super majorities in the House and Senate, I don't see that happening
ever again.

I'd take issue with the 6%, though. Dividends on stock means trusting that the stock maintains
or surpasses its current level. If the stock goes down 6% in value, your 6% in dividends is
canceled out. If I had $4 million in cash, I'd be thrilled to place it where it earned a guaranteed
6% as $240,000 is certainly enough to live comfortably on in most places.

[lumberjack_jeff]

36. The problem with low taxes on the rich transcends simply the deficit.

Wealth concentration harms the entire social fabric.

[TwentyFive]

57. Exactly! Even more arrogant and mean spirited Boy Kings and Debutantes

They need a very steep inheritance tax on large estates. The excuse "we'll lose our parent's farm" is a lie. Even if they have to take a loan against the family business, they still end up in far better shape than the parents started.

[Maraya1969]

51. Are you talking about having a million in savings? Because I

kind of agree with you. But if you are talking about a million dollar salary I don't. There are plenty of people who save for all their lives to get a million to support themselves through their retired years and I don't think they have a lot of spending money.

I'm not saying this is not a great idea though. Everyone has to sacrifice.

[Enrique]

55. it's a tax on annual income in excess of $1,000,000

that affects a very few people, and their first $1,000,000 is spared from the tax.

Think they can survive that?

Regarding the corporations, look at Sanders's legislation, it has that too.

[Donnachaidh]

7. we thought we DID vote for this type of guy in 2008

We didn't know we were being baited and switched on a national scale.

[Sherman A1]

34. Bingo

:shrug:

It was bait & switch

[Plucketeer]

8. Sanders -

a breath of fresh air as we swirl ever deeper into a whirlpool of Plutocracy.

[emilyg]

46. Amen.

[xchrom]

11. recommend

[rabies1]

12. A petition should circulate on this

What regular citizen wouldn't sign on to this idea?

[Maraya1969]

52. I agree. And start calling your congree critters and senators like mad in support of this.

[Autumn Colors]

13. K&R (nt)

[SleeplessinSoCal]

14. Bush's base (the "Haves and Have Mores") are basically traitors to this country.

[northoftheborder]

15. Yes, more ideas like this need to be yelled out!

[Enthusiast]

17. Thank you, Bernie! K&R

One of the few.

[pam4water]

18. K&R Worries about the smear campaign on Bernie that is probably already under way :(

[RoccoR5955]

24. The smear campaign against Bernie has been going on in VT for quite some time

The thing is that VT voters don't buy the BS that they are selling!

[pam4water]

26. Well that makes one state XD

[libmom74]

19. You won't see

this being played on the MSM, so most people won't even hear this argument. Look at the background whenever Senator Sanders speaks about these issues, the chamber is always empty. It's disgusting that the only real (d)emocrat speaking out for what's best for the country is an independent.

[wxgeek7]

21. Yeah!!!!!!!!!

Way to go Bernie!!! Man, this guy's f***ing awesome!!!! :))

[avaistheone1]

22. Everyone is suffering except the millionaires.

Great idea Bernie!

[katty]

23. go Bernie, not all millionaires+ 'create' jobs-some are just making

or taking large amounts of money-without really employing lots of people that trickle their wages into the American economy. This mindset that millionaires and billionaires are giving their fantastic life's blood of wealth to America and the American way of life is a joke-they enjoy living and taking here, but not giving back (most of the time)a fair share of taxes.

[Uncle Joe]

25. Kicked and recommended.

Thanks for the thread, kpete.:thumbsup:

[nonoxy9]

28. I love this man! Unfortunately he's fighting a battle

against both parties and a president who doesn't want to "punish success", unless you make under a million dollars a year, then you have to tighten your belts like everyone else.

[sam sarrha]

29. how about a 30% tax on non value added hedge funds and 60% fuel an food futures

:nopity:

[Name removed]

30. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Mybrokenchains]

31. somebody get that dude an intergrity medal

[Swampguana]

33. K&R

Bernie is amazing. He represents how all politicians should be.

[pansypoo53219]

35. fuckinh TITHE them.

the talibornagains should get that.

[mdmc]

37. r

[Atypical Liberal]

38. Wow!

Wow, this guy nails it out of the park!

Fantastic. We do need more people like this in Congress.

And. Not only, Senator Sanders, do the American people "get it", that the way to balance the budget is not to cut services on one hand while cutting taxes for rich on the other, people can see that there is plenty of money being spent for supporting the machinery of war and bailing out corporations that are "too big to fail"!

The people are getting their backs pissed down and they know it's not raining!

This Sanders guy is great. I don't think I've ever seen him speak before.

[Phlem]

43. edit

"people can see that there is plenty of money being spent for supporting the machinery of war and bailing out corporations that are "too big to fail"!

Add, bailing out other countries in crisis as opposed to our own.

Money is just flying out of US. It's like the BP oil spill but with money.

Oh and please don't raise my taxes.......WTF

I can't wait till we're all on the same page.

-p

[Tripod]

41. K&R

[Phlem]

42. Applause for my

Fantasy President.

I hope one day he achieves it!

I'll be all over that like white on rice.

-p

[Buddha2B]

44. K&R

It's so straight forward, why don't Tea Baggers get it?

[Firebrand Gary]

45. Bernie, I love you!

Mwah!

[Quixote1818]

47. Please VOTE DOWN the video at the link I am providing

http://www.youtube.com/watch?v=pgN5lNFRVLc&NR=1&feature=fvwp

[Speed8098]

49. Bernie is the man!

:yourock:

:kick:

:fistbump:

[humanityisfree]

50. sanders / weiner 2012!

true progressive Democrats

[Jakes Progress]

53. When Sanders retires, we might as well say good bye to our party.

Whatever the "new" party calls itself, they won't be Democrats.

[Charleston Chew]

54. Thom Hartmann's Brunch with Bernie, 03/11/11

__________
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x562279
__________

[TwentyFive]

56. That's only $54 grand for every million. Richies 'only' net $946,000?

The Richies will never even miss it.