This is exactly why we can’t raise taxes on the “evil top 1%” of income earners; because they already pay 40% of the tax bill!
Obama’s goal to make sure that the tax cuts for the rich are only temporary doesn’t make sense, as it effectively punishes success through taxes.
By punishing success, you take incentives away from people trying to be successful. When people are no longer motivated to be successful, efficiency and productivity decreases.
Rather than taxing and punishing success, we need to start encouraging it.
It looks like I WILL have to go through this again…*sigh*…Okay, so, would you agree that the top 1% of earners controls AT LEAST 40% of ALL of the money earned? Well, they should have 40% of the tax burden. Personally, I think they should have more of a tax burden. The top earners don’t actually spend as much of what they earn as the lower 95%. They save a lot of their money. I would support keeping the tax cuts if they were to actually spend the money. WHICH THEY DON’T! They instead reinvest it, which doesn’t have a sales tax. In fact, they can be deductibles. Also, even after the taxes, the richest people have more money than anyone would really know what to do with. That is the motivation. It is not punishing success! If you had to press me for a way that it was punishing people it would be that they are being punished for not spending their money, not for being successful!