what is your feeling about this tax?

[KTP]

Reading about the new healthcare bill I saw this comment:

"The legislation would be financed by a combination of cuts in planned Medicare spending and an income tax surcharge of 5.4 percent on individuals making at least $500,000 annually and couples making at least $1 million. "


My first thought was, "glad it is not me". But then I realized we would actually be making that amount of money to begin with and had to reconsider.

But special taxes like this do worry me a bit. How big of a jump would it have to be if one day some legislation needs money and the upper levels are a bit tapped out. Might the ceiling come down to the point where the comment reads "individuals making at least $50,000 annually and couples making at least $100,000"

I guess go with the flow as long as it stays "us" vs "them" and you never fall into the "them" category...

[Inkstain82]

The goal should be to put the least burden on society, in this case by taxing the people who would be hurt the least by a loss in income. If there's a problem here, it's the cost of the program at all, not the way the tax is distributed. If a 5.4% tax on the wealthy is a problem, don't have a federal healthcare program.

I never understood why paying taxes bothers people so much. I get a *lot* out of society, and it's enjoyable that I make enough money to pay something for all those benefits.

[KTP]

The goal should be to put the least burden on society, in this case by taxing the people who would be hurt the least by a loss in income. If there's a problem here, it's the cost of the program at all, not the way the tax is distributed. If a 5.4% tax on the wealthy is a problem, don't have a federal healthcare program.

I never understood why paying taxes bothers people so much. I get a *lot* out of society, and it's enjoyable that I make enough money to pay something for all those benefits.

The goal isn't to put the least burden on society. If that were the case we would limit females to a maximum of 2 children and we would encourage non-productive people to either change or retire from life.

The real goal of society is to make sure the most people *currently living and voting* are happy.

[Inkstain82]

The goal isn't to put the least burden on society. If that were the case we would limit females to a maximum of 2 children and we would encourage non-productive people to either change or retire from life.

The real goal of society is to make sure the most people *currently living and voting* are happy.

Limiting children would be limiting reproduction, which is considered a fundamental right.

Having money, i.e. not being taxed, is not such a right.

[disneysteve]

How big of a jump would it have to be if one day some legislation needs money and the upper levels are a bit tapped out. Might the ceiling come down to the point where the comment reads "individuals making at least $50,000 annually and couples making at least $100,000"

You've just described the AMT.

[KTP]

Limiting children would be limiting reproduction, which is considered a fundamental right.

Having money, i.e. not being taxed, is not such a right.

Considered a fundamental right by whom?

If I have to pay for your kids, then really, whose rights have been violated?

[Inkstain82]

Considered a fundamental right by whom?

Western Civilization.

[KTP]

Is this the same civilization that is so concerned about global warming?

Hey, guess what would drastically reduce global warming?

2 kids per female or fewer.

[Inkstain82]

Is this the same civilization that is so concerned about global warming?

Hey, guess what would drastically reduce global warming?

2 kids per female or fewer.

Let me google that for you

[Joan.of.the.Arch]

Cute, Inkstain1. Could someone please Google for me what percent of US individuals earn $500,000? And maybe some some actual body counts on that--- as I'm wondering how many dollars 5.4% of their incomes could possibly raise. It doesn't seem like it really would be much compared to the deficits we already have and the necessary ongoing budgets we face.

If there are many who earn that much, I'm going to have to go for a walk in a high income suburb to kind of get my head re-adjusted. Probably I sometimes lose perspective. Average income in my neighborhood is $33,000. I know some of those $500K-ers come to my neighborhood for the great restaurants and see a quaint neighborhood they may actually feel afraid of because it probably feels like poverty [read:scary] to them. And they fear people who have less than them, people who might want to take whatever can be gotten from them. (All just my musing, you understand.) Funny thing, though: I'm sure $33K is closer to the average US earning than is $500k.

Well, come spend some money in my neighborhood, KTP. Come spread that money around and get some spice for it. Mm, and some tiramisu, maybe. Please ignore all advice on this forum to cook at home. My neighbor will be your waiter tonight. His name is Tony. Don't worry, he reports all his tips and pays taxes on it, so that is a little less anyone else will need to send to the US government. I think you can rest easy, KTP. The rest of us will take care of it.

[wraddylan]

Nice very nice

[disneysteve]

Could someone please Google for me what percent of US individuals earn $500,000?

1.5% earns over 250K.
One article I found said the tax on the over 500K crowd would impact 0.3% of the population. The estimate is that it would bring in $460.5 billion over 10 years.

[cschin4]

The real goal of society is to make sure the most people *currently living and voting* are happy.

Um, what about the rights and goals of individuals? What about the right to keep the money that YOU earned and not have it confiscated and stolen by a govt entity?

If that were the case we would limit females to a maximum of 2 children and we would encourage non-productive people to either change or retire from life.

Of course this view on human beings is that more human beings are yet another mouth to feed. Instead of viewing another human being as another pair of hands, another strong back and another brain and another set of skills which ultimately does enhance society and the world.

[cschin4]

Hey, guess what would drastically reduce global warming?

2 kids per female or fewer.

Absolute, 100% PURE BUNK.

[cschin4]

If I have to pay for your kids, then really, whose rights have been violated?
Reply With Quote

Do you apply the same logic to healthcare or any other govt program? My right to keep the money I earned for my family and children off the sweat of my brow is violated every single day.