Comments on: McCain on Alternative Minimum Tax

By: Thomas

Thomas — Sat, 21 Jun 2008 21:23:07 +0000

If you keep taxing the rich, they will either find ways around or simply just not make as much. Either way you are negating the impact of the so called taxation. Not only was it mentioned in the comments above about the true burden of taxes being on the wealthy, but who do you think provides the jobs and support for the economy? I am by no means wealthy, but the idea of just taking the money from somebody “because they have it” doesn’t work.

@Chad – last time I checked, Congress passes bills and votes on going to war (with some Presidential options that were not used). I believe that during our current president’s reign, it has been a democratic controlled congress and state, with both an inherited recession and domestic attack. You are over simplify and incorrectly stating a president’s ability.

PS – I didn’t vote for him.

By: Russ

Russ — Tue, 17 Jun 2008 05:17:45 +0000

All the more reason to completely scrap the current tax system and put in the Fair Tax.

BTW, the top 50% wage earners pay 96% of the taxes now.
The richest 20% pay fully 80% of the taxes.

I’m in the bottom 50% now, but I plan on being in that top 20% by the time I retire, and I will have done it by hard work, spending less than I earn, and investing what I save. Three things everyone in my position can do. I don’t see why ‘the rich’ are forced to subsidize people who won’t work, spend more than they earn, and don’t save a dime for completely predictable rainy days. Please notice I specifically wrote won’t work, not can’t work. I do believe it is the responsibility of government and society to help out those who can’t help themselves, or those with disadvantages who are doing their best.

See Aesop’s The Ant and The Grasshopper
What should the ant do?
What should the grasshopper expect?
What should the government force the ant to do?
What should the government force the grasshopper to do?

By: Curtis

Curtis — Mon, 16 Jun 2008 19:47:29 +0000

“I sympathize with the wealthy who feel unfairly taxed for the same services, but the money has to come from somewhere and we all have to buy the same things.”

That’s an odd way to position it. There are many services that, by definition, rich people cannot benefit from, such as food stamps, medicaid, various housing grants and subsidies, and so forth.

I’m not rich, though I hope to be someday, and I know I’m going to have to work hard to get there. For me, the unfairness is more about the government taking money that I’ve worked hard to earn because a handful of people think I don’t deserve it (or at least, that someone else, who quite possibly has not worked as hard as I have, deserves it more). I’m all for supporting the poor and infirm, but that should be done through private charity, not as part of a government mandate.

By: Chad @ Sentient Money

Chad @ Sentient Money — Mon, 16 Jun 2008 10:56:24 +0000

Neither McCain or Obama will be lowering taxes any time soon, as our current genius president lowered taxes during a war and put us in a terrible financial position. They will just be shuffling the deck to make it look like they are doing something.

By: James

James — Sun, 15 Jun 2008 05:09:56 +0000

Provocative posting. Thanks for getting it up.

The funny thing about tax raises is that they are almost always sold as ways to tax the rich – make them pay their “fair share” – or some similar rhetorical buzzword. But very often what happens is the rich find a way around the taxes and middle and lower classes end up getting stuck with the bill.

Best,

James