Society has given them what they have. Either that or their parents have given them everything, to ask the top 1% to pay 50%-60% of their millions they earn in taxes should be allowed and actually required. It shouldn't be strange or ridiculous to ask those who've benefited the most from our society and our principles to give back to those who are working just as hard at minimum wage jobs.
There are millions of people in the US that have no homes and make no money. If people make more than they need too (Most americans) should donate money to the people who need it. Most people feel bad for the homeless but don't do anything about it. We need to change the tax amount if not 50%, then any. Tax dollars make is country what it is today. We can make it better.
I believe that the wealthy should be taxed more because lower-income families need a break and should be at least 40% to 80%. Even though they did earn all the money they have, they should still be able to give more of it back to the community in a bigger sum.
Instead of just negligibly raising the income tax, which would be cheated by big business via tax evasion, implement a maximum wage which is enforceable and would be effective in achieving equitable distribution of wealth. Set it at a figure which ensures the highest amount of satisfaction (Empirical evidence by a Princeton University Study showed it to be as low as USD$75000 and use the newfound income to provide for universal healthcare,education and transport.
In terms of overall taxes, the wealthy should pay 50% taxes on income above a certain number. Anything above a million dollars should be taxed this high. If you ever want to solve dept problems, then you have to get the money from the richest who don't pay their workers a living wage.
If Joe makes $40,000 a year as a janitor and I make $300,000 a year as the owner of one of the largest cleaning companies in Canada, am I a bad guy for making more money? No, I provided a job for Joe. I provided a job for lots of people. I'm investing loads of time and money into making money and making people happy. If you have a problem with that, then it's not the "1%ers" that are ruining the world, it's you.
50 mother flipping percent is a lot of money. It is a crazy amount of money that everyone would complain about paying and I wouldn't blame them. I'm pro-tax, but 50% is utterly ridiculous. Try to make a profit with half of your revenue being taken away. Just make tax rates equal.
Really what is the point, the amount of tax you would actually retrive does not equite to the effort in retrieving it. If you are wealthy you have the means to investigate to avoid such tax. Such as incorporating yourself to pay the lower company tax, creating trusts etc etc. The smarter thing to do would be to create a system which maximises the tax reciepts to put less burdon the middle class. A flat tax with no tax avoidance would achieve a higher tax receipt across the board. This will never happen because of the vested interest of the political and plutocracic classes, it is better to avoid all tax then to pay any.
Progressive taxation system is unfair. The only fair tax system is true flat rate tax. Those that earn more will already have to pay a higher amount of taxes (dollar wise). Why should those that apply themselves to make more money be burden with a higher tax bracket? It is absolutely wrong.
Listen, I don't support the corporate influence, I don't support tax evasion, and I don't support these special breaks wealthy get. Nor do I support the wealthy being taxed stupidly low, but after seeing countless pseudo-progressives call for a 70% tax on the wealthy I had enough.
I am going to put is plain and simple. If I came up to you, threatened to take your entire family hostage if you don't give me your wallet so I can donate it to the red cross. I can BET MY MONEY 90% of you would say no. So what makes taxation any different. Oh that's right! It goes towards funding "public services" and "promoting equality".
Oh and BTW the Laffer curve still applies nowadays. Tax the rich and they just hide in offshore accounts. Its counter-productive. In the era of globalization its much easier to avoid the tax man or just relocate your business all together. Its what corporations did in the 1980's (well that and they lobbied the government), and its sure as hell what many wealthy are doing now. You can create tax coalitions but (unless using military intimidation is part of pro's ideologie(s)) have fun trying to get all 251 countries to sign it.
Everybody should pay the same percentage. Just because youre poor doesnt mean the wealthier should pay you their hard earned money. They work hard to. There is nothing wrong with having a lot of money. Lets face it: the magority of people want a lot of money. How would you feel if you were lucky enough to have a windfall or get a really high paying job and the gov comes and takes 50%? Thats injustice.
If you raise the tax rate above what is reasonable, the rich "1%" will just end up storing all their money there. The havens providing the service will be the only benefactors, as they can charge higher rates for their services - it will still be less than paying >50% tax. It is better to have a lower tax rate that people actually *pay* than a higher tax rate that people actively *avoid*.
The high income should not be more invested in government than lower income. All citizens are equal and should be treated that way. A system where high incomes pay higher taxes forces these same people to influence government for asset protection, thus creation of tax loopholes to accomplish this goal.
50% of what you earn is a massive amount and it is akin to robbery. People work hard to get money and so why should it be like a crime to work hard or be good at your job. Some people say that it is the super rich they are talking about, billionaires and the like but that is ridiculous. It will just be another massive tax for middle and upper middle class to pay dragging down all the sense of righteousness we hold in our government.