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Originally Posted by host
For the life of me, I cannot understand the resistance to progressive taxes and inheritance taxes aimed at collecting more from folks like war profiteers, William, Neil, and GHW Bush, Erik Prince, Joe Allbaugh, and Dick Cheney. The demcorats did it in 1993, and my research shows, income tax revenue rose from $1154 billion in 1993, to more than $2025 billion in 2000, and then reversed dramatically for years, under the tax policies of a republican controlled congress and white house.
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Does the implication of this data, as you suggest, factor in the lag in tax policy changes, as well as the many other factors that affect tax revenue? I don't think it does.
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The 2006 NY Times article shows that, although the wealthiest ten percent owned 70 percent of total US wealth in 2004, they only paid 67 percent of all income taxes in 2005. Tax law changes in 1993 had the effect of making them pay more, until the reversal of policy, after 2001.
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There is a subtle but material difference between wealth and high income. Our system has a focus on taxing income, not wealth. If you want citations, spend some time reading the tax code. But understand that foe example a family farmer may control millions of dollars of land and equipment and net very little income and pay almost no federal taxes. On the other hand a doctor a few years out of medical school may have high debt (student loans, mortgage, car note, business loan to start his practice, etc), possibly negative net worth and makes $250,000 per year in income and pay a lot in federal income taxes.
I give you many examples showing some of the flaws in your theories regarding taxation, yet you show no interest in what happens in the real world. I think this illustrates a problem we have in Washington - there is no connection btween the theory and the real world.
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If they can be made to pay 2/3 of all income taxes collected, why not use our superior voting numbers to attempt to collect 75 percent of all income taxes collected, from them?
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Because some of "us" want to become "them".
Because some of "us" believe in fairness.
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in 2006, the wealthiest one percent nearly managed to bring a senate bill to the floor for a simple majority vote that, is it had passed, would have been signed by Bush and resulted in elimination of inheritance tax, slated now to return at 2002 level, in 2011. Why are there so many "have nots", who support the agenda of the rich? Aren't the rich the folks who put the crop of federal politicians in office who turned annual total treasury debt, reduced to just $18 billion, in 2000...back to an annual average of $412 billion, each year since 2001? They deliberately shifted their former tax burden to you and your grandchildren....from pay as you go in 2000, to borrowing $3 trillion since....yet there is an advocacy here for taxing everyone equally, a "fair tax"...why...where does that thinking come from?
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Do you understand the "fair tax"? Do you understand the difference between taxing consumption rather than income from work? Don't you see that taxing consumption in principle means that those who spend the most (the rich) will pay the most by far?
Read the book "Rich Dad Poor Dad".