The "rich" need to pay their "fair share"! How, exactly? | TigerDroppings.com

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udtiger
LSU Fan
Louisiana
Member since Nov 2006
23764 posts

The "rich" need to pay their "fair share"! How, exactly?


Will the 47% be placated by JUST raising the rates for "them," (including cap gains and dividends [we'll ignore how this will decimate investment for the moment])?

Should "they" still get home mortgage interest deduction?

Should "they" be able to invest in muni bonds tax free?

Should 'they" be able to contribute to a 529 education account?

Should "they" be able to take deductions related to investment losses?

In other words, should "they" be entitled to any favorable tax treatment, or should every single dollar "they" have, from whatever source, be subject to taxation?

Just trying to figure out the "limits" here, if any.

ETA: In response to Powerman, "they"/"them" = the "rich"



This post was edited on 11/24 at 11:14 am



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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120338 posts

re: The "rich" need to pay their "fair share"! How, exactly?


It's unclear whether you are referring to the 47% or the rich when you say "they" here

I think one thing that needs to be done is place a cap on the itemized deductions

ETA I mean lower the cap on itemized deductions



This post was edited on 11/24 at 11:03 am


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Reubaltaich
USA Fan
A nation under duress
Member since Jun 2006
2448 posts

re: The "rich" need to pay their "fair share"! How, exactly?


Yancy, barry & Hairy Weed want to raise taxes on those eee'ville wich folwkes.

Its gonna cut the deficit in 'half' and we will have the national debt paid off within 5 years.

Unicorns & Skittles for everyone.






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Cold Pizza
Ohio State Fan
Member since Sep 2011
7639 posts

re: The "rich" need to pay their "fair share"! How, exactly?


All of the above or your racest.





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Rex
LSU Fan
Here, there, and nowhere
Member since Sep 2004
54250 posts

re: The "rich" need to pay their "fair share"! How, exactly?


What's fair is that which is decided democratically.







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DapperDan
LSU Fan
Member since Jul 2012
1226 posts

re: The "rich" need to pay their "fair share"! How, exactly?


quote:

What's fair is that which is decided democratically.


really? I bet I could post some democratically decided things you most certainly think are not fair.






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Rex
LSU Fan
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Member since Sep 2004
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re: The "rich" need to pay their "fair share"! How, exactly?


quote:

I bet I could post some democratically decided things you most certainly think are not fair.

What's fair is that I get to choose those things which are subject to my own test of fairness.






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thetempleowl
Temple Fan
dallas, tx
Member since Jul 2008
10497 posts

re: The "rich" need to pay their "fair share"! How, exactly?


quote:

What's fair is that which is decided democratically.


Sorry, that doesn't hold water. The majority rules does not protect the minority.

Do you think gays should marry? Were you in favor of cali overturning prop 8? Do you feel civil rights should be a nationally enforced thing?

The majority is not always right.






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DapperDan
LSU Fan
Member since Jul 2012
1226 posts

re: The "rich" need to pay their "fair share"! How, exactly?


quote:

What's fair is that I get to choose those things which are subject to my own test of fairness.


best poster on here.






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LSUwag
LSU Fan
St Augustine Beach
Member since Jan 2007
6371 posts

re: The "rich" need to pay their "fair share"! How, exactly?


quote:

What's fair is that which is decided democratically


Answer his question, Rex.

How much should the wealthy be taxed? This is an honest question that nobody seems to be willing to answer.

For that matter, define 'rich'.



This post was edited on 11/24 at 11:29 am


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Rex
LSU Fan
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Member since Sep 2004
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re: The "rich" need to pay their "fair share"! How, exactly?


quote:

How much should the wealthy be taxes?

For starters, see my discussion on taxing capital gains at ordinary income tax rates.






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Jbird
Iowa Fan
In Odramaville with EthanL
Member since Oct 2012
15796 posts

re: The "rich" need to pay their "fair share"! How, exactly?


For that matter, define 'rich'.

Easy anyone who has a dime more than dogboy.






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EST
LSU Fan
Investigating
Member since Oct 2003
14341 posts

re: The "rich" need to pay their "fair share"! How, exactly?


Flat tax: 10% of income for all. No exceptions.

And that is all the government gets. If its not enough (in their minds) well, thats just too bad.



Amazing how simple the solution is.






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udtiger
LSU Fan
Louisiana
Member since Nov 2006
23764 posts

re: The "rich" need to pay their "fair share"! How, exactly?


quote:

Flat tax: 10% of income for all. No exceptions.

And that is all the government gets. If its not enough (in their minds) well, thats just too bad.



Amazing how simple the solution is.


Thanks, but I was asking the members/representatives of the 47%. They are the ones demanding the "rich" pay their "fair share."






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DapperDan
LSU Fan
Member since Jul 2012
1226 posts

re: The "rich" need to pay their "fair share"! How, exactly?


quote:

taxing capital gains at ordinary income tax rates


you think this will affect the rich or the middle class more?






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Rex
LSU Fan
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Member since Sep 2004
54250 posts

re: The "rich" need to pay their "fair share"! How, exactly?


quote:

Flat tax: 10% of income for all.

Dream on.






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LSUwag
LSU Fan
St Augustine Beach
Member since Jan 2007
6371 posts

re: The "rich" need to pay their "fair share"! How, exactly?


Thanks for not answering the question.

If the 'rich' do sees a tax increase, will the Liberals end their war on the wealthy and finally agree that they are contributing their fair share?

What will the Democrats do then as the deficit continued to grow and at a faster rate since the GDP and tax revenues will fall?






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Rex
LSU Fan
Here, there, and nowhere
Member since Sep 2004
54250 posts

re: The "rich" need to pay their "fair share"! How, exactly?


quote:

you think this will affect the rich or the middle class more?

The rich, obviously. I think it's absurd that Mitt Romney's taxes are capped at 15% while a WORKER is capped at 35%.







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EST
LSU Fan
Investigating
Member since Oct 2003
14341 posts

re: The "rich" need to pay their "fair share"! How, exactly?


quote:

Dream on.


Hey, its perfectly fair.






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NC_Tigah
LSU Fan
Member since Sep 2003
50468 posts

re: The "rich" need to pay their "fair share"! How, exactly?


quote:

For starters, see my discussion on taxing capital gains at ordinary income tax rates.
I missed the thread, Rex.
What estimated revenue would that raise?

Any expected detriment through impact on market volatility?






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