Since this is already in PRSI, I might as well get a little political with some questions regarding taxation -- I'm interested in people's views. As a disclaimer I'm a moderate that dislikes both parties, apologies for the bias.
1) Why do people feel the need to "tax the rich"? How are they any different from any other citizen, who has the same legal right? Why should those who are more successful be penalized for such? We're all supposed to be equal before the law, and I view the tax code as part of the law. I understand the sentiment against tax evasion -- there I agree completely -- but once the tax code is revised to close up those loopholes used by the wealthy, why should a "rich" person be taxed more?
2) Going off of 1), why are corporations (like Apple) viewed as people under US tax code? You're essentially taking one revenue source and taxing it twice; once for the company profit, and again for employee salary. Why not remove corporate tax, but close tax loopholes? This would allow the companies to spend the money as they see fit. Best case scenario is that the company invests to create more jobs or pay it's employees more -- if this is the case, tax revenue would still be collected from this disbursement. Worst case is self-catering in the form of bonuses... which would again be taxed equally before the law if loopholes are closed. Why is there such a push against companies (or rather "evil corporations")?
3) Why does the US constantly define class? Shouldn't we all be classless and equals? Using salary to define wealth is tenuous at best without proper adjustment for inflation, local tax rates, cost of living, and other capital. A place like San Fran is far more expensive than say Indianapolis.
4) Why is there an obsession with taxation, but no unified call for controlled spending? Increasing revenue only fixes one end, and that eventually hits a wall (ala Hollande's 75% income tax on "the rich"). While I agree that raising appropriate revenue is important, there's no such thing as a free lunch. Most of Europe got their act together, but US congress is acting like a bunch of children and refuse to play within the parameters of the system.
Also, before anyone wants to play parties and use the blame game -- everyone's at fault. See here. Obama's congress has been no better than Bush's (in fact, worse) -- the last four years has accrued as much debt as Bush's eight. Also, Clinton seems to be the only semi-responsible tenure in recent history.
1) Why do people feel the need to "tax the rich"? How are they any different from any other citizen, who has the same legal right? Why should those who are more successful be penalized for such? We're all supposed to be equal before the law, and I view the tax code as part of the law. I understand the sentiment against tax evasion -- there I agree completely -- but once the tax code is revised to close up those loopholes used by the wealthy, why should a "rich" person be taxed more?
2) Going off of 1), why are corporations (like Apple) viewed as people under US tax code? You're essentially taking one revenue source and taxing it twice; once for the company profit, and again for employee salary. Why not remove corporate tax, but close tax loopholes? This would allow the companies to spend the money as they see fit. Best case scenario is that the company invests to create more jobs or pay it's employees more -- if this is the case, tax revenue would still be collected from this disbursement. Worst case is self-catering in the form of bonuses... which would again be taxed equally before the law if loopholes are closed. Why is there such a push against companies (or rather "evil corporations")?
3) Why does the US constantly define class? Shouldn't we all be classless and equals? Using salary to define wealth is tenuous at best without proper adjustment for inflation, local tax rates, cost of living, and other capital. A place like San Fran is far more expensive than say Indianapolis.
4) Why is there an obsession with taxation, but no unified call for controlled spending? Increasing revenue only fixes one end, and that eventually hits a wall (ala Hollande's 75% income tax on "the rich"). While I agree that raising appropriate revenue is important, there's no such thing as a free lunch. Most of Europe got their act together, but US congress is acting like a bunch of children and refuse to play within the parameters of the system.
Also, before anyone wants to play parties and use the blame game -- everyone's at fault. See here. Obama's congress has been no better than Bush's (in fact, worse) -- the last four years has accrued as much debt as Bush's eight. Also, Clinton seems to be the only semi-responsible tenure in recent history.
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