Pawlenty tax plan.

**WickedTribe** · 06-07-11, 08:00 PM

Originally Posted by Nuckle

I am worried that there will be a point in our lifetime where it will be better to be poor than to be middle class.

Oh, yeah, the poor have it amazingly well.

**WickedTribe** · 06-07-11, 08:01 PM

Here are my quick and dirty calculations of income tax paid with the current plan and proposed plan:

You can see that, surprise surprise, the wealthy make out the best with this plan, and the total income drops dramatically. Clearly, the best way to fix the budget deficit is to dramatically reduce income.

**CivilWars** · 06-07-11, 08:06 PM

Originally Posted by WickedTribe

Here are my quick and dirty calculations of income tax paid with the current plan and proposed plan:

You can see that, surprise surprise, the wealthy make out the best with this plan, and the total income drops dramatically. Clearly, the best way to fix the budget deficit is to dramatically reduce income.

Your blue line assumes that the rich pay 100% of their tax burdens currently, and find no loopholes to lessen the rate.

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**WickedTribe** · 06-07-11, 08:10 PM

Originally Posted by CivilWars

If you make investment taxes the same as employment taxes what incentives do the wealthy have investing in new or growing business? It is easy to say from this side that they will do it any way, and many of them probably will, but if the rich stop investing their money into businesses the middle class no longer has jobs. 10% may be too low, but in my opinion it should be less than the 25% rate. If you have a doctor making $1M/year for doing plastic surgery, and a business man making $1M/year by investing in 10 businesses that make him $100K each in returns, if I were in charge I would think the doctor should pay a higher tax rate on his $1M.

I don't follow you. The wealthy will continue to invest because it will continue to be one of the best ways to make income off of your money. What are you suggesting that they'd invest their money in if we increased investment taxes to income tax levels?

And why do you think that an investor, who's doing no actual work to produce his investment income, should pay less in taxes than a doctor, who does work? What's your justification there?

**WickedTribe** · 06-07-11, 08:11 PM

Originally Posted by CivilWars

Your blue line assumes that the rich pay 100% of their tax burdens currently, and find no loopholes to lessen the rate.

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So does my red line.

**CivilWars** · 06-07-11, 08:13 PM

The difference being there are no loopholes on the red line, so there is no legal way to reduce the rate.

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**WickedTribe** · 06-07-11, 08:17 PM

Originally Posted by CivilWars

The difference being there are no loopholes on the red line, so there is no legal way to reduce the rate.

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Says who? Pawlenty even admits that there will be trillions of dollars in lost income. It's an idiotic and irresponsible plan.

**reject_wolf** · 06-07-11, 10:41 PM

the rich should pay a lot more in taxes or get out of the country. it is pretty simple, you get to live like a king so man up and give back to the country that let you be one. the wealthy for too long have been hording their money/making us their bitch through the finance industry. the argument that the rich give us jobs doesnt work when they replace us with computers and cheap foreign labour all in the name of corporate growth. either they invest in the US themselves or the government takes the money through taxes and invests it. what to invest the money in to create jobs/industry/innovation is a whole different issue that we can only hope can be solved by money.

i dont know why people like to defend the rich so much, it is like a fucking monarchy. people who are poor are quite often looked down upon when they never had a chance or the proper guidance through life.

**Nuckle** · 06-08-11, 07:42 AM

Originally Posted by reject_wolf

the rich should pay a lot more in taxes or get out of the country. it is pretty simple, you get to live like a king so man up and give back to the country that let you be one. the wealthy for too long have been hording their money/making us their bitch through the finance industry. the argument that the rich give us jobs doesnt work when they replace us with computers and cheap foreign labour all in the name of corporate growth. either they invest in the US themselves or the government takes the money through taxes and invests it. what to invest the money in to create jobs/industry/innovation is a whole different issue that we can only hope can be solved by money.

i dont know why people like to defend the rich so much, it is like a fucking monarchy. people who are poor are quite often looked down upon when they never had a chance or the proper guidance through life.

So do you consider yourself a socialist or a communist?

**K0nTANK3Rous** · 06-08-11, 08:23 AM

Why punish someone for being smarter or more fortunate than you? Because a guy took his life savings, which may not have been much, put his balls out on the table and made big, we should punish him for that? That's not America, that's wealth distribution, bordering on class warfare and simply letting the lazy man be lazy. This country wasn't made to let the rich feed the poor, that's the most asinine plan ever, even for someone to "sugar coat" it and call it "patriotism". Bullshit.

There's 2 types of people..Doers and Takers. The rich got where they are because they TOOK a chance and got it DONE.

You want to clean up the corporate mess with foreign labor? I would propose a tax system on US based corporations that if they employ over a certain percentage of their workforce and manufacturing overseas that they have a higher tax burden than US companies/businesses that employ the hard working, needing jobs Americans.

Clean up the immigration, where John Doe gets the road crew/construction job instead of Jose. Don't be ignorant here and make a stupid argument that I'm saying all these types of workers are illegal, I know they aren't. This is an example not a stereotype.