Posted by bistiza on 11/13/2012 8:33:00 AM (view original):
You demonstrate one of the main problems with most people's mindset - they only see in terms of black and white.
I'm a socialist, yes. However, I lean more right than left when it comes to most issues. Therefore, I'm not "the left" at all. This is why terms like "left" and "right" mean little in a political sense - because not everyone is one or the other. People can be liberal in some aspects and conservative in others.
For example, I tend to lean to the "left" when it comes to economic issues but to the "right" when it comes to social and ethical issues.
Regardless of your numbers, the rich should be paying more than they are right now. They can afford it.
It doesn't matter what rate you decide to soak the rich with. You'll never match spending, so no, they cannot "afford it". WE cannot afford it. Raising taxes will not spur recovery, and since tax revenues are driven mostly by overall economic health, they (revenues) may actually go down.
Please explain how raising tax rates will help anything. You do realize that when rates go down across the board, the share of the revenues paid by wealthy go UP, right? I'll leave the research of the tax information at the IRS to you. By your logic, and by historical precedent, the rich pay MORE when rates are lowered. That tells me that we are on the inverse side of the tax curve. (0% = $0 revenue, 100% = $0 revenue ===> so there must
be a peak somewhere). You can't get around the math.
We have two very basic problems here:
1. Raising taxes may
give you less revenue (and probably will if it has the effect of slowing down the economy). But even if it does give you a minute gain in revenue in the short term, it would have almost ZERO appreciable affect on the deficit/debt.
2. Spending is already
likley far above the peak of whatever revenue you would hope to gain from a rate increase.
So holding spending cuts hostage to tax increases in order to save the country from the fiscal cliff is irresponsible at best and immoral at worst. This "balanced approach" is no such thing. It's simply an opportunity for the current administration and the left to penalize the rich and capitalize politically. Everybody wants the rich to pay more, but nobody knows how much more or how to make that happen. And no one gives the moral justification, that just because people want it, that they should be able to take whatever amount they want of someone else's money to make it happen. I personally cannot see how I have any moral right to demand that a rich person pays more on their next dollar than me. Because they can afford it doesn't make it right. There is not one dollar that anyone else has earned that I have a moral right to take. Furthermore, if I am as much a human as a the rich guy, I'm pulling my weight if we pay the same.
If they want more revenue, they would NOT raise taxes. If they want the rich to pay their "fair share", which no one defines, they would not raise taxes. I don't see how raising taxes would help in the manner that people say it will.