Pay More
Senator Dick Durbin(D-IL) believes that "the richest people in America should pay more". Well, exactly how much more does he want them to pay? The top 1% of income earners pay 40% of the Federal income tax load already and the top 10% of earners pay 70% of all Federal income taxes while the bottom 47% of earners pay ZERO in Federal income taxes. The American people are looking at $1.6 trillion in tax increases as part of President Obama's various plans, then there are the hundreds of billions of new and higher taxes coming because of Obamacare, The Congressional Progressive Caucus has wanted a new top tax rate of 49% and Senate Majority leader Harry Reid wants a 5% surtax on top of everything else.
All of this in spite of the fact that if you confiscated 100% of income over $10 million the Treasury would only net $186 billion.
Instead of all of this higher tax talk coming from Democrats and the "Occupiers" why don't we scrap the current progressive income tax code altogether and replace it with either a Flat tax, a consumption tax or Herman Cain's 999 plan.
"That some should be rich shows that others may become rich and hence is just encouragement to industry and enterprise."-Abraham Lincoln
All of this in spite of the fact that if you confiscated 100% of income over $10 million the Treasury would only net $186 billion.
Instead of all of this higher tax talk coming from Democrats and the "Occupiers" why don't we scrap the current progressive income tax code altogether and replace it with either a Flat tax, a consumption tax or Herman Cain's 999 plan.
"That some should be rich shows that others may become rich and hence is just encouragement to industry and enterprise."-Abraham Lincoln
Posted by Ulysses S. Arn at 11/2/2011 12:10 PM 
Categories: taxes
Tags: Dick Durbin President Obama Obamacare Herman Cain 999 plan flat tax fair tax Harry Reid occupy wall street Abraham Lincoln
Categories: taxes
Tags: Dick Durbin President Obama Obamacare Herman Cain 999 plan flat tax fair tax Harry Reid occupy wall street Abraham Lincoln
More government is not the answer. Just cut spending, reform the tort system and repeal 99.99% of all regulations and we can pay the entire debt in a few years. Nearly everything government does causes more harm than benefit. If government does little enough it will require so little money we will record massive surpluses. We can run our own lives far better than little Dick Durbin can.
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