The rich want tax cuts? Give it to them!

[Uben]

Our prestigious president has given some of the rich the tax cuts they were looking for. By limiting the top executives bonuses for those businesses that received bailout money, they will no longer have to pay taxes on huge bonuses! This could be a tax cut of millions of dollars for these individuals! So why dey bitchin? Ha! they asked for it, they got it!

[tsuki]

1. I wonder why Wall Street believes that the Congress should not

dictate their wages. Wall Street was behind Congress when they dictated the wages to the UAW.

The Sons of Privilege really have a skewed view of life.

[jtrockville]

4. Sons of Privilege think rules are for others.

[n2doc]

2. I think that an interesting solution would be to cut their rate....

But eliminate all deductions, period, on all income for those making above 500K. So they have a rate of 30% (down from the official rate of 35 or so) and they get a "cut", but in fact all these scum are using massive loopholes and special breaks to pay an effective rate of less than 15%. No deductions, just add it up and ship out 30%. With vigorous audits!

[dysfunctional press]

3. how would that work with our system of marginal rates?

they don't pay the top rate on all of their income, after all.

[n2doc]

6. Ideally, it would affect all their income

make more than 500k, pay 30%. That would provide a hell of an incentive to stay below 500k, because one would have to make probably another 100k to just make up for the step up in taxes.


But even if we just allowed deductions on the lower amounts up to the 500K limit, we would come out ahead. The thing that really pisses me off is the fact that cap gains and dividends are taxed at a lower rate than income, as if working should be penalized. It is pretty clear that trying to provide "investment incentives" through reduced cap gains and dividend rates doesn't work in helping keep a healthy economy.

[DailyGrind51]

5. And THEY say the minimum wage is inflationary!