Comments on: Who pays all the income taxes?

By: Tracy Coenen

Tracy Coenen — Sun, 13 Sep 2009 19:11:00 +0000

Thanks Jim. Sorry you weren’t able to follow a few simple rules for commenting here.

By: jim

jim — Sun, 13 Sep 2009 19:08:24 +0000

“Censorship reflects a society’s lack of confidence in itself.” [Potter Stewart]

The same is true of some individuals. So long, and have a nice life…..

By: jim

jim — Sat, 12 Sep 2009 18:00:10 +0000

Joe Taxpayer: “what do you feel the right solution is for the issue you perceive?”

An end to loopholes that favor the rich, somewhat higher marginal rates, stricter enforcement, an end to offshore tax havens, and somewhat higher corporate taxes. Also very progressive taxes on gifts and inheritances in the very top percentiles of wealth that can’t be evaded. Not really a big deal but it seems to be sufficient to brand me as an out and out commie in this neighborhood!

By: jim

jim — Sat, 12 Sep 2009 17:45:40 +0000

***Admin note: Personal insults and left wing propaganda removed. Try again!***

By: JoeTaxpayer

JoeTaxpayer — Sat, 12 Sep 2009 13:39:00 +0000

Jim – Red Herring? Or the logical limit of what you suggest?
But, you did answer my question. The top 1% are rich, they already pay 40% of the taxes, and as the slide shows 43 million returns pay no tax at all. So I think it’s fair to ask you, what do you feel the right solution is for the issue you perceive? A higher marginal rate at the top end? A cap on income regardless of source? Is there a difference between me ‘earning’ $200K on a $4M retirement portfolio at 65 vs that same $200K as a kid out of B-school? I’ll agree with you that these are different situations (I hope we agree) and that perhaps that kid is overpaid, but what’s the process to not nail the retiree?
I respectfully suggest you review the history of marginal tax rates at the high end, and read about the Laffer curve. We appear to be at or near the optimum rates needed to maximize revenue. Watch revenue drop if rates are raised.

By: jim

jim — Fri, 11 Sep 2009 23:06:33 +0000

***Admin note: Profanity, personal insults, and left wing propaganda deleted. Try again!***

By: Tracy Coenen

Tracy Coenen — Fri, 11 Sep 2009 17:57:18 +0000

Okay – I had to take a look through the old posts, and I count exactly THREE posts about healthcare in the U.S. Is that really overdoing it? In fact, I’m a bit ashamed I haven’t written about it more!

By: Tracy Coenen

Tracy Coenen — Fri, 11 Sep 2009 15:39:47 +0000

The healthcare lies being promoted by the left ARE a scam!!!

By: Ken

Ken — Fri, 11 Sep 2009 14:40:10 +0000

Hi,

I’m a subscriber to your blog via RSS and I bought your book – both help me with my job.

However I’ve skipped reading the blog as extensively of late, because of the space in it devoted to the US Healthcare reform debate.

I guess this is your blog and you can do with it as you wish, but I guess I would rather read about scam busting here than stuff I might hear on a right-wing radio talk show – where I even to tune in, I don’t live in the States. Further whilst I know it’s of vital importance, not knowing enough of the facts to form an opinion, the HCR debate leaves me cold after a certain point in the continually re-hashed wrangling.

Hope I don’t get an unfairly ascerbic reply!

By: Tracy Coenen

Tracy Coenen — Thu, 10 Sep 2009 14:52:55 +0000

Jim – People have never had better access to education, health care and jobs than they do today. To suggest they need more of that is completely ludicrous. The opportunity to better oneself and earn more is greater than it has ever been. No need to steal from one class of people and give to another.

The concept of not having disparities in income is simply ridiculous. I don’t care whether a rich person inherited their money, lucked into it, or has a good job he doesn’t deserve. His money is his money, and I’d rather earn my own than steal from him. We’d be much better off teaching this concept than telling the poor they can only survive if they steal (legally or not) from others.