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Punish success

Why do we use a progressive tax system? Why does a person who makes $100 per year have to pay a higher percentage of their earnings to the govt than does a person who makes half of that? It makes no sense to me.

Have you ever been told that someone really does not need all of that money? Most of us do not need  hardly any money or things for that matter. We could all live extremely simplistically. We would survive. Even the libs who want to tax us so much could live without their coffee from the coffee house, and their green energy, and their newspaers. None of those are truly necessary in order to survive.

Some people say that as we make more money, we are able to give more away. That is true. As we earn more money, a lower percantage of our money is required in order to live comfortably. We have more disposable cash. More money to burn as the old saying goes.

Our tax system punishes high earners. Plain and simple. At some point, earning more means simply giving the government more. And all in the name of jealousy. Jealuosy has been around since Adam and Eve, or fish walking on water for liberals in the crowd. Jealousy was wrong then and it is wrong now.

 

Lets stop punishing success in this country. We need a better tax code.

Comment balloon 7 commentsKevin Robinson • November 23 2009 10:59AM

Comments

Our tax system does not always punish high earners, it is quite the opposite.  Did you not read and hear Warren Buffet say that he pays less taxes then his Admin Assistant?  We he does and most people I know that make alot of money pay less than lower end earners.  There are many fantastic tax breaks out there.

Posted by Christine Hynes, Orange County Senior Loan Consultant (American Capital Corporation) almost 10 years ago

I agree- we punish the producers.  And until we stop doing this by lowering taxes and business costs, unemployment will continue to be historically high.

Buffet’s case is skewed by the fact that he derives a large portion of his income not from a payroll, but from capital gains which are taxed differently.  Most of Buffet’s income is in the form of stock dividends - taxed at 15%.

Posted by Suzy Morris (The Morris Team) almost 10 years ago

Christine - Is it possible that warren buffet earns less than his admin assistant? His compensation is 100k a year. Alot of high level assistans earn double that easy. Sure he is worth billions but that is from holdings and he only pays taxes if he sells something.

Our tax system is constantly out to punish success. Clinton passed a luxury tax on yachts, i think only high earners buy yachts. Clinton also passed a law that only allows a company to deduct pay roll on executives up to $1 million a year per employee. So what happened, well successful people found a way around it, and then came the rise of the currently debated stock option bonuses.

 

Flag - Success is bad because it means you are winning. Remember the new America is comfortable with success, winning, victory or self reliance. We should derive all of our self worth and self confidence from the Government. All hail Obamao.

 

JP

 

Posted by Jay-Paul Lowry almost 10 years ago

Actually... do a little searching.  Buffet pays neither less, nor a smaller percentage of his income in taxes.  He lied when he said it.  Buffet uses his average tax rate of 17.7%, but then uses her marginal tax rate of 30% for her $60k salary.  Her average tax rate is closer to 15%... 

Posted by Lane Bailey, Realtor & Car Guy (Century 21 Results Realty) almost 10 years ago

Not only with income tax, but it needs to be changed with sales tax, property tax, a zillion fees, etc.  The average American, even poor people who don't pay income tax still spend a ton of money on all these other fees and taxes.  Something has to change.

Posted by Rob Arnold, Metro Orlando Full Service - Investor Friendly & F (Sand Dollar Realty Group, Inc.) almost 10 years ago

I don't think tax relief is coming anytime soon.  We are looking at more taxes headed our way federally with health care.  That will translate to higher taxes at a state level when they are hit with Medicaid costs.

Posted by Bonnie Vaughan, CNE SFR - Buyers/Sellers - Lackawanna & Surroundin almost 10 years ago

Hi Kevin , you are right..the more you make the more they take. So, we have diversified in off shore partnerships with limited taxes.

Posted by Bill Lauler, Associate Broker,CIPS,CRB,SRES,GRI (Chase Realty LLC) almost 10 years ago

Participate