by slimboyfat 91 Replies latest social current
Not really. What we want is to draw up the rules of the game differently, so that a few people cannot grab all the wealth in the first place.
But for those that already have the wealth, the Obama philosophy is to confiscate as much of it as politically possible.
Are the rich getting worried that they have gone too far?
America is a strange "INverted Socialist" State.
The poor are told to become entrepreneurs and claw their way up on minimal assistance.
The rich and the corporations are given state handouts to make them even richer, as if they need some sort of state sponsored social security to keep them there!!
Those on middle incomes are taxed more than those who would barely notice a difference in their lifestyle even if they payed 50% tax.
Seriously - America should tighten up on the gun laws, there are a lot of desperately poor people owning shotguns.
Look at France in 1789. Shudder.
HB
TERRY is right.
Life isnt fair.
STOP TREATING THE WEALTHY AND THE RICH CORPORATIONS MORE FAIRLY THAN OTHER AMERICANS.
HB
STOP SUBSIDISING THE RICH WITH MONEY FROM THE TAXPAYER. THEY DONT NEED IT.
I was wondering how long it would take for the usual tirades against "corporations and rich people" would arrive, all in the name of being fair. Here is how "fair" things are.
The top 1% of earners pay 38% of ALL INCOME TAX.
The top 10% of earners pay 70% of ALL INCOME TAX.
The next 40% of earners (upper middle class) pay 27% of ALL INCOME TAX.
The next 50% (the bottom 50%) pay 3% of ALL INCOME TAX.
So from this HB concludes the that the rich are treated "more fairly" than the rest.
Current tax rates are already highly progressive. Damn facts, they always get in the way of class warfare agendas.
LostGeneration: "Damn facts, they always get in the way of class warfare agendas."
If the top tier paid 100% of all income taxes, it wouldn't be enough for some. Some (right here on this board) won't be happy till all earnings are thrown into one Big Pot and Big Government Nannies distribute it on an "as need" basis.
I was wondering how long it would take for the usual tirades against "corporations and rich people" would arrive, all in the name of being fair. Here is how "fair" things are.
According to the Organization for Economic Co-Operation and Development, the U.S. has the most progressive effective tax regime of any member country. Some don't think our tax system is "fair" enough. If progressive taxation was supposed to reduce income inequality in the U.S., it has proven a failure.
Table 4.5. Alternative measures of progressivity of taxes in selected OECD countries, mid-2000s | |||
B. Percentage share of richest decile | |||
1. Share of taxes of richest decile | 2. Share of market income of richest decile | 3. Ratio of shares for richest decile (1/2) | |
Australia | 36.8 | 28.6 | 1.29 |
Austria | 28.5 | 26.1 | 1.10 |
Belgium | 25.4 | 27.1 | 0.94 |
Canada | 35.8 | 29.3 | 1.22 |
Czech Republic | 34.3 | 29.4 | 1.17 |
Denmark | 26.2 | 25.7 | 1.02 |
Finland | 32.3 | 26.9 | 1.20 |
France | 28.0 | 25.5 | 1.10 |
Germany | 31.2 | 29.2 | 1.07 |
Iceland | 21.6 | 24.0 | 0.90 |
Ireland | 39.1 | 30.9 | 1.26 |
Italy | 42.2 | 35.8 | 1.18 |
Japan | 28.5 | 28.1 | 1.01 |
Korea | 27.4 | 23.4 | 1.17 |
Luxembourg | 30.3 | 26.4 | 1.15 |
Netherlands | 35.2 | 27.5 | 1.28 |
New Zealand | 35.9 | 30.3 | 1.19 |
Norway | 27.4 | 28.9 | 0.95 |
Poland | 28.3 | 33.9 | 0.84 |
Slovak Republic | 32.0 | 28.0 | 1.14 |
Sweden | 26.7 | 26.6 | 1.00 |
Switzerland | 20.9 | 23.5 | 0.89 |
United Kingdom | 38.6 | 32.3 | 1.20 |
United States | 45.1 | 33.5 | 1.35 |
OECD-24 | 31.6 | 28.4 | 1.11 |
Source: Computations based on OECD income distribution questionnaire. | |||
Oddly enough, those countries that are among the favorites among American progressives: Norway, Sweden, and Denmark--are nearly neutral. Norway is actually slightly negative. Yet the income distribution is less skewed towards the top 10%.
Sorry for the blank post, got bit by IE9. Just as a side note, the video posted on the OP says its the top 400 people, not 100. This is at time index 1:19.
MeanMrMustard
