toldailytopic: Do the wealthy in America pay their fair share of taxes?

[Nathon Detroit]

The TheologyOnline.com TOPIC OF THE DAY for September 19th, 2011 09:24 AM

toldailytopic: Do the wealthy in America pay their fair share of taxes?

Take the topic above and run with it! Slice it, dice it, give us your general thoughts about it. Everyday there will be a new TOL Topic of the Day.
If you want to make suggestions for the Topic of the Day send a Tweet to @toldailytopic or @theologyonline or send it to us via Facebook.

 

[ragTagblues]

Probably not; but then the same could be said for most countries . . . .

 

[The Berean]

I guess it depends what "their fair share" means? :idunno:

 

[bybee]

Probably not; but then the same could be said for most countries . . . .

I am amazed at vast accumulations of wealth. What good is it?
Once one has enough to cover family needs, some future security and a decent amount for coverage of some wants, any excess has nebulous and fleeting value.
I'm not talking about millionaires. Many people are millionaires on paper but must still budget carefully to cover things like college educations and family vacations as well as lessons and training for family members, etc.
Being comfortable financially is a worthy goal. I don't have the right to decide a "comfort level" for others but still, I am nonplussed over billionaires.
Look at the reality shows about "Housewives from here and there". These women are grotesqueries! They are volunteer "Stepford Wives".

 

[pqmomba8]

Absolutely not - dollar for dollar (ratio based), the ultra wealthy pay (significantly) less taxes than the lower and middle class due to various loop holes and deductions. And I am one of them......I have been working on 1099 or C2C basis for years and compared to all the tax deductions available to me compared to when I was on W2 is quite mind boggling. Not that I'm complaining, but you get where I'm going with this, right?

 

[PureX]

Personally, I think after 5 or 10 million a year, the tax should be 100%. No one needs more then that. No one is worth more then that.

 

[oatmeal]

The TheologyOnline.com TOPIC OF THE DAY for September 19th, 2011 09:24 AM

toldailytopic: Do the wealthy in America pay their fair share of taxes?

Let us compare this with the tithe of the scriptures.

Is the tithe fair?

What did God require?

Did He command the rich to pay 40% and the poor nothing?

NO,

God required the tlthe of all.

Ten percent across the board, no deductions, no loopholes.

And the result was Malachi 3:6-12

Why do we not take that for an example, after you have tithed to God's ministers?

oatmeal

 

[Real Sorceror]

No, they certainly don't. As others have already said, there is a certain point where all a person's needs (and many of their wants) are met. After that their wealth can be put to much greater use than buying a few houses a couple dozen boats.

 

[Dena]

Probably not.

 

[rexlunae]

toldailytopic: Do the wealthy in America pay their fair share of taxes?

It depends on whose idea of fair we're using. In a general sense, the rich are always the people who benefit the most from our society. So it seems like they're always the first people we should expect to pick up the slack when we're in the hole.

 

[TomO]

I guess it depends what "their fair share" means? :idunno:

It depends on whose idea of fair we're using. In a general sense, the rich are always the people who benefit the most from our society. So it seems like they're always the first people we should expect to pick up the slack when we're in the hole.

:think: That's pretty much what I wanna know: "Fair to who?" Any time I hear people talking about fair I immediately start watching my back because I know for a fact sooner or later they will get around to me.

I agree fully with what Rex posed above but I am always annoyed at the way some people are always willing to place limit's on others. lain:

 

[Tambora]

I believe the rich should not be subject to a higher percentage of taxes just because they make a higher profit.

It is because of that higher profit that they create jobs.

Take Sam Walton, the founder of WalMart.
It is because of higher profits that he was able to create more jobs.
And not just the jobs of working at the stores, but also created jobs for contractors to build more stores.

Start taking away more of their profit, and they hire less people (ie. less jobs created).
The first thing a business will do in order to offset lower profits is cut payroll (ie. lay off folks).

They have tried this before.
It was called a Luxury Tax.
People who had enough money to afford luxury items (such as a yacht, for instance) were required to pay a higher tax for that item.

What was the result?

Less yachts were bought by the rich.
Which meant that several folks who built yachts lost jobs.
Several folks who repaired and maintained yachts lost jobs.
Several folks who worked at yacht clubs lost jobs.
Several folks who worked at yacht marinas lost jobs.

 

[Bright Raven]

Nope! It should be a flat rate. Equality for all.

 

[drbrumley]

I believe the rich should not be subject to a higher percentage of taxes just because they make a higher profit.

It is because of that higher profit that they create jobs.

Take Sam Walton, the founder of WalMart.
It is because of higher profits that he was able to create more jobs.
And not just the jobs of working at the stores, but also created jobs for contractors to build more stores.

Start taking away more of their profit, and they hire less people (ie. less jobs created).
The first thing a business will do in order to offset lower profits is cut payroll (ie. lay off folks).

They have tried this before.
It was called a Luxury Tax.
People who had enough money to afford luxury items (such as a yacht, for instance) were required to pay a higher tax for that item.

What was the result?

Less yachts were bought by the rich.
Which meant that several folks who built yachts lost jobs.
Several folks who repaired and maintained yachts lost jobs.
Several folks who worked at yacht clubs lost jobs.
Several folks who worked at yacht marinas lost jobs.

Can't say it any better than that.

 

[annabenedetti]

Absolutely not - dollar for dollar (ratio based), the ultra wealthy pay (significantly) less taxes than the lower and middle class due to various loop holes and deductions. And I am one of them......I have been working on 1099 or C2C basis for years and compared to all the tax deductions available to me compared to when I was on W2 is quite mind boggling. Not that I'm complaining, but you get where I'm going with this, right?

That you're going to sit down right this minute and write a big check to Uncle Sam?

 

[annabenedetti]

toldailytopic: Do the wealthy in America pay their fair share of taxes?

I'm always suspicious of attempts to foment class warfare. And that's what that question usually seems to precede. Not in this instance, but usually.

 

[Sherman]

The rich are the ones that create jobs, as Tambora said. When the government soaks the rich everybody gets soaked. The billionares are the ones that own corporations. Those corporations are what create jobs. America is biting the hands that feed it. That is bad business.

America has one of the highest corporate taxes in the world. As a result many of the jobs are now going overseas. The high taxes of our present administration on the rich and company owners has caused a poverty boom. Poverty has climbed from 14.3 percent in 2009 to 15.1 percent. For a second year Joblessness hovered at 9 percent. The government need to get its grimy mitts off the business owners and lower taxes. No only that, deregulate and get out of the way. Let the corporations do what they do best--create jobs and create more wealth.

For more info see this thread.

A flat tax is a very good idea.

BTW Tambora I gave you SPOTD for that post here.

 

[Traditio]

No. If they paid their fair share, then they probably wouldn't be wealthy.

 

[Traditio]

The rich are the ones that create jobs, as Tambora said. When the government soaks the rich everybody gets soaked. The billionares are the ones that own corporations. Those corporations are what create jobs. America is biting the hands that feed it. That is bad business.

America has one of the highest corporate taxes in the world. As a result many of the jobs are now going overseas. The high taxes of our present administration on the rich and company owners has caused a poverty boom. Poverty has climbed from 14.3 percent in 2009 to 15.1 percent. For a second year Joblessness hovered at 9 percent. The government need to get its grimy mitts off the business owners and lower taxes. No only that, deregulate and get out of the way. Let the corporations do what they do best--create jobs and create more wealth.

That sounds familiar. Where have I heard that before...oh yeah! That roughly was the position of Herbert Hoover. He presided over an economic boom, right?

 

[Lazy afternoon]

I believe the rich should not be subject to a higher percentage of taxes just because they make a higher profit.

It is because of that higher profit that they create jobs.

Take Sam Walton, the founder of WalMart.
It is because of higher profits that he was able to create more jobs.
And not just the jobs of working at the stores, but also created jobs for contractors to build more stores.

Start taking away more of their profit, and they hire less people (ie. less jobs created).
The first thing a business will do in order to offset lower profits is cut payroll (ie. lay off folks).

They have tried this before.
It was called a Luxury Tax.
People who had enough money to afford luxury items (such as a yacht, for instance) were required to pay a higher tax for that item.

What was the result?

Less yachts were bought by the rich.
Which meant that several folks who built yachts lost jobs.
Several folks who repaired and maintained yachts lost jobs.
Several folks who worked at yacht clubs lost jobs.
Several folks who worked at yacht marinas lost jobs.

You have no clue whatever.

A society in which the rich make their money on the backs of the poor is an evil society.

America is in the trouble they are in because of capitalism in which the rich get richer and the poor remain their slaves.

All small business is swallowed up by the rich who use cheap labor from overseas, while the countries youth lose out on jobs.

The people are gullible to believe that because things are cheaper from overseas, then they will live better for long.

The biblical principle of living righteously and sharing ones wealth to help other peoples, without making them your own slaves is the only way to stay under Gods blessing.

Most of the rich do not care about anything but their money.(that is Bible)

Thank God that many of the poor give to the helping of others in need and expect nothing in return.

God blesses and will bless them.


LA