Oh Boy... Rich Repukes will hit the ceiling now

[scheming daemons]

http://www.cnbc.com/id/31910123

Healthcare Bill Includes Tax on $1 Million+ Earners

The healthcare overhaul proposal offered Tuesday by U.S. House of Representatives' Democrats will include an extra 5.4 percent tax on those earning more than $1 million.

One congressional aide said that would bring the top tax rate for the wealthy to 45 percent. An additional tax of 1 percent would be levied on those couples earning more than $350,000. Those with $500,000 incomes would pay an extra 1.5 percent, according to the legislative documents.

Increases could be triggered in 2013 to 2.0 percent and 3.0 percent, respectively. The millionaires' tax would remain at 5.4 percent, according to legislative documents.

The House Ways and Means Committee has scheduled debate and votes are due begin Thursday.

[musette_sf]

YYYYYES!

[Taverner]

1. Right on!

And do I think the rich need to be "punished"?

Yes, yes I do.

[dionysus]

2. i don't consider it punishment, i consider it paying their fair share.

give me several million dollars and tax the shit out of me. i'll still be rich, i won't mind.

[alsame]

7. Exactly. If I were ever in that income category, I would gladly

pay higher taxes. And I'd still have more than I have now.

It's just greed.

[guruoo]

33. At some point, it's no longer about the money, it's about playing the game...

“How much is enough? More than I presently have."
-John D Rockefeller

[Odin2005]

54. It's the sick "He who dies with the most toys wins" mentality.

:puke:

[patriotvoice]

22. When you become rich, your attitude changes.

That's how life is.

[Tan Gent]

24. I have to wonder why people who hate the rich buy lottery tickets.

:shrug:
(just kidding, I don't wonder at all)
\

[sendero]

26. Doesn't make it right..

.. no matter how much they think so.

[SammyWinstonJack]

48. +1

:thumbsup: Making that kind of money, I'd gladly pay my fair share and more. You betcha!

[AndyA]

18. The rich can pay their increased taxes off of the OBSCENE PROFITS

they made during the Bush years.

It will be a drop in the bucket for them. But yes, the Republicans will be up in arms over it, even though it will have no negative impact whatsoever on the average and lower wage earning GOPers.

[havocmom]

28. Obscene profits often made off the work of the working/working poor classes

Partly by underpaying the living wage level and not giving decent benefits! Fuck em. Time for them to pay back into the system many of them got fat on.

[Yavin4]

49. THANK YOU!!!!

If fucking WalMart gave their workers real health benefits, if fucking IT companies kept jobs in the U.S., and if ALL companies would pay their workers a living wage, then we wouldn't need all of this government intervention.

The rich have stolen from the American workers time and time again. Time to give some of that money back.

[guruoo]

34. Some of them do, indeed.

[slampoet]

3. Why do the rich hate America when it has given them So Much ?

Don't they realize that if they screw this up they won't have any other place ?

[gmoney]

14. Because the rich all achieved everything on their own.

:sarcasm:

They don't take advantage of roads, infrastructure, an educated workforce, public communications resources, the public airwaves, etc.

No rich person ever had things handed to them by parents, connections, or dumb luck. No rich person ever made a killing by selling goods or services to the government (I'm looking at you, Ross Perot).

No rich person had the advantages of being born in this country, being white, receiving a good education at public/private schools, in good health, within a prosperous family.

No rich person ever took advantage of people who were not in the position to fully understand the fine print, or didn't have any other options. They never bent the rules or the laws to their advantage. They never cynically exploited weaknesses or fears.

They EARNED every last DIME, and who are YOU to take any of it from them?

:sarcasm:

Granted, some wealthy people have worked harder than others, some extremely hard, or have been extremely clever in honestly achieving their wealth. But the vast majority were dealt a very good hand. Yes Neal, most wealthy people HAVE been fortunate to some extent or another.

[Xenotime]

41. When the have "TAKEN" so much....you gotta get your words right.

[City Lights]

58. My thoughts exactly. nt

[BOSSHOG]

4. And they already have tea parties so how are they gonna protest?

[valerief]

5. Bull! Bring back the 90% tax rate for those thieves!!!! nt

[lindisfarne]

6. Not just the rich will hit the fan.There is a subset of middle-income people who will object as well

simply because they've drunk the kool-aid that says taxes are bad, no matter how much disposable income you have after meeting basic needs at a basic level. Kind of our version of the Hindu caste system which says you must live without complaint in your current situation to get to a better system in another life.

[progressoid]

11. Yep, because all of that money is supposed to trickle down to us

or be invested in businesses that hire us and if the gubmint gets that money, there won't be any left for all the important things the super wealthy do for us regular people...or something like that. :eyes:

[patriotvoice]

23. Taxes are fine. Stopping force expansion across the globe is even better. EOM

[The_Casual_Observer]

8. Didn't slow them down when Sotheby's raised their gavel fees from

20 to 25%

[Cognitive_Resonance]

9. Believe me, Joe the Plumber will complain. He's still thinking about buying the business. nt

[seemunkee]

10. I hope to one day have to pay that tax

but that probably won't ever happen

[Warpy]

12. Hot damn!

It's only a baby step in the right direction, but it is a step.

Now we need a baby step toward reducing the Pentagon's budget to match it and we'll have a shot at funding health care for all of us.

[corkhead]

13. CLASS WARFARE!!11! CLASS WARFARE!1!!!!

:cry:

[unblock]

15. 45%!!!! that's insanely high!!!!!111

wait, it's still HALF of what it was when i was born!

[spag68]

16. 45%

I don't think that's right, isn't the top tax rate 38%? Anyhow it isn't the tax rate that is important. Like the Corporate rate, the important is the effective rate, which is the rate they actually pay. No one seems to bring this up when the corporate is talked about. While the US corp. rate is high their effective rate is much lower the other industrialized countries.

[madrchsod]

17. never underestimate the stupidity of people in large groups

sure fire way to kill health care reform

[safeinOhio]

19. Now, lets take the cap off of SS taxes.

[WI_DEM]

20. Good News! except the senate says they will fight any tax increases.

[patriotvoice]

21. Why not stop bombing other countries, instead? i mean, 45%; that's usuary, anyway you slice it.

I'd be pissed, too.

[AllentownJake]

25. Fuck them

[patriotvoice]

29. Fuck whom? The people we're still bombing or the rich? i assume "the rich", and as much as I...

despise wasteful, gluttonous, greedy lifestyles, I'm still empathetic to the yanking of 45% of their income. I would never want that for myself, so I cannot want that for someone else. It seems to me the better plan is for the government to spend less on theater expansion and redirection, come back home, and focus on the essentials: infrastructure, health care, and trade balance.

[AllentownJake]

30. Do both

[sutz12]

35. It's not really 45% anyway...

It's only 45% of their income that is above $1 million dollars. Earnings up to $1 million are taxed at the same rate as other people.

Why don't people understand that?

[patriotvoice]

44. For me, it's not how much is taxed, but that it's taxed at nearly 50%.

I wouldn't want to be taxed at that rate, no matter how much I made. As such, I cannot wish it be taxed on someone else. I do not believe any government should have the ability to declare that it will take half of what you earn. I also do not believe any government should be able to spend unilaterally in such a way as to require taxation that high.

The first objective should be to demand a government that is frugal and wise with the tax revenue it collects. The second objective should be to demand basic needs be met before wants: infrastructure, healthcare, and education before offensive war. The third objective should be to adjust taxation such that it promotes a normal distribution of wealth and a balance in trade.

[scheming daemons]

50. Again.. you missed the point.... they aren't taxed at that rate for all their income...

# 10% on income between $0 and $8,350
# 15% on the income between $8,350 and $33,950; plus $835
# 25% on the income between $33,950 and $82,250; plus $4,675
# 28% on the income between $82,250 and $171,550; plus $16,750
# 33% on the income between $171,550 and $372,950; plus $41,754
# 35% on the income over $372,950; plus $108,216


The new plan is that they would pay 45% on dollars 1 million and up


For an example... a guy making $1,000,001 per year would only pay $0.06 *TOTAL* more taxes than before. Because that 1,000,001th dollar would be taxed at 45% instead 39%.


None of their income from $1 to $1,000,000 would be affected at all.



You keep talking about the Government taking "nearly half of what you earn". They are not. the first $1,000,000 you make is exempt. The accurate statement would be:

"They are taking nearly half of what you earn, after exempting your first million"

[patriotvoice]

52. I understand completely what you are saying, and I am...

passed that point. My point is: I do not believe the government -- under ANY circumstance for ANY income amount -- should be allowed to claim 45%. At what income level they claim 45% is irrelevant: that they think they can is my complaint.

I won't even consider higher taxes as an option until the government stops bombing other countries.

[Odin2005]

55. Libertarian BS.

[mitchum]

57. The poster must think his avatar depicts Rand wearing a hat

[patriotvoice]

60. Thanks for contributing to the "debate". EOM

[mitchum]

67. "Debate" or "da bait"?

[patriotvoice]

59. Yes, libertarian as in not authoritarian. Feel free to be on your knees when they come knocking...

for your 45%. I will not be, and I will be damn sure to fight any government that insists it has a right to demand 45% WHILE WAGING AN ILLEGITIMATE WAR.

[scheming daemons]

42. It's not "45% of their incomes"... it's 45% of their incomes OVER $1,000,000

They aren't paying 45% on their first $1,000,000.

You ARE familiar with the graduated income tax system that we have, right?

[patriotvoice]

45. See #44. EOM

[mitchum]

56. With that attitude, why in the fuck do you have that particular avatar?

Because he looks cool?

[patriotvoice]

61. How about you go and read COLONIALISM IS DOOMED then get back to us.

Maybe then you'll understand why there's nothing Marxist about a colonial empire taxing any of its citizens at 45%.

[mitchum]

68. Ron or Paul or whatever your name is...

why are you conflating taxation for citizen services with taxation for funding the military-industrial complex? They are not the same thing.
Also, why do you continue to lie about the portion of income that will be taxed? And why do you continue to lie about who will be taxed?

Why don't you get back to us with those answers...okay?

[hfojvt]

36. usury only involves lending

before 1981 the top tax rate for federal taxes was 70% and it started at about $300,000.

[patriotvoice]

39. While perhaps not strictly accurate, I meant usury as in "you lend your money to the government...

until tax refund time". And as far as those figures go, in my opinion 70% is way too much. Not only does it seem prima facie exorbitant, but it would seem to encourage evasion.

[mitchum]

69. RIGHT WING TALKING POINT...but you already know that, don't you?

[Canuckistanian]

27. If Hannity or Rush spew ONE WORD of complaint

Suddenly their audiences will realize that they're not "working class stiffs" after all.

[LAGC]

31. Oh they will.

You know they will.

Every penny denied the rich man means one less worker theoretically employed.

Never mind the fact that the rich tend to horde their money and let it accumulate...

[Canuckistanian]

32. That's right. I forgot.

Only rich men employ people in America.

And only when they're in a good mood because their taxes are low.

My bad.

[KharmaTrain]

37. And The Fools Don't Know It's A Bargain...

Most of us who are self-insured are paying an average of $500-$1,000 a month on insurance for our families. A 5.4% tax for access to care is a bargain...even if they pick up supplemental coverage. But the filthy rich are also filthy greedy...so expect the right wing to scream how we're ALL having our taxes raised.

[Kablooie]

38. But that's socialism! In a Democracy only the POOR should have to pay taxes!!

[Xenotime]

40. THIS IS CHANGE I CAN BELIEVE IN!!! OBAMA FTW!!! WHOO!!

[blindpig]

43. And you think rich Dems won't?

They've got more in common than political affiliation.

[Statistical]

46. Where are they getting 45% from.

http://taxes.about.com/od/2009taxes/qt/2009_tax_rates.htm

# 10% on income between $0 and $8,350
# 15% on the income between $8,350 and $33,950; plus $835
# 25% on the income between $33,950 and $82,250; plus $4,675
# 28% on the income between $82,250 and $171,550; plus $16,750
# 33% on the income between $171,550 and $372,950; plus $41,754
# 35% on the income over $372,950; plus $108,216

Also why do they always make it complicated.
Why not just add new brackets instead of entire new section added to the tax code.

So now you have normal tax, Alternative tax, and rich surcharge tax.

Why not just have single progressive tax rate like this:

# 10% on income between $0 and $8,350
# 15% on the income between $8,350 and $33,950; plus $835
# 25% on the income between $33,950 and $82,250; plus $4,675
# 28% on the income between $82,250 and $171,550; plus $16,750
# 33% on the income between $171,550 and $372,950; plus $41,754
# 36% on the income between $372,950 and $500,000; plus $108,216
# 38% on the income over $500,000 and $1,000,000; plus $xxx
# 42% on the income over $1,000,000; plus $xxx

Instead they make a whole separate "rich tax". I still have no idea where they get 45% from?

[kentuck]

47. How much more will Rush have to pay on his $256 million??

Oh man! He's going to be really pissed, y'all!

[scheming daemons]

51. 6% of $255 million (the first $1 million isn't affected)

[Odin2005]

53. Good. SOAK THE RICH, Dammit!

This must be why Art Laffer came on the BBC last night preaching that more tax cuts are needed. :eyes:

[Deja Q]

62. Cool! Now if only we all made $1 million per year

I'll reserve "earned" for those who actually DO work and I don't mean by prattling in front of a microphone, phallic-shaped or otherwise, for 4 hours each morning.

[warren pease]

63. Rich Repukes = redundancy...

just as surely as do bat-shit crazy repukes, dumb as a box of roofing nails repukes, ill-mannered repukes, sociopathic repukes, fundie look repukes, misogynistic repukes, selfish repukes, greedy repukes...

Fortunately, typists cramp sets in...


sf

[MetaTrope]

64. Per IRS statistics, here's how income is distributed through the U.S.

[Eric J in MN]

65. "top tax rate for the wealthy to 45 percent"

It would be clearer to phrase that as "top tax bracket."

They will be paying 45% on their income (pay) above $1 million. Less on their income below $1 million.

They will still be paying 20% on long-term capital gains (sales of stocks, bonds, real estate, etc.)

[Laelth]

66. Still lower than it was when Reagan left office.

They have nothing to complain about.

:dem:

-Laelth