Let’s raise us some taxes.

The Virginian ^ | 11/17/2012 | Moneyrunner

[moneyrunner]

Is there anyone at FreeRepublic who would be affected by these proposals?

[fhayek]

Well they HAVE taxed just about everything else. Generally, I am against new taxation of any kind, but in the interest of FAIRNESS.....

[STYRO]

Someone please add up all the new revenues from these sources and tell us how long (minutes? hours? days?) it will fund government at current spending levels....

[moneyrunner]

The federal government is spending about $3.6 Trillion annually. $400 billion is over 10% of spending and about 40% of the deficit. I would say that's a big part of the answer. As an added feature, it affects those who are the Right’s biggest foes. What's not to like?

[moneyrunner]

I'm glad to see you realize that fairness means that everyone has to contribute. I'm willing to swallow these tax increases FOR THE CHILDREN!

[capydick]

I love it! Is there’re a Pubbie in the House with the nuptials to put this on the table?

[JIM O]

I say let’s go over the cliff. I will save the incremental amount of additional taxes I pay with savings to charity I always funded in the past and have decided to withhold. Let’s all share this burden together.

[PJammers]

Quick math since a trillion is a 1000 billion and we spent 1.2 trillion last year 400 billion would be gone after 3 months.

[moneyrunner]

On the other side of the ledger, I’m willing to give up my entitlement to an ObamaPhone, food stamps, public housing, 99 weeks of unemployment payments. I’m willing to do without, how about everyone else? It’s only FAIR.

[I am Richard Brandon]

“Yea!” for higher taxes.

[Tzimisce]

It’s time rich liberals start paying their fair share. :)

[moneyrunner]

Correction, the 1.2 trillion was the deficit, not the spending. But think of how much good that $400 billion will do.

[moneyrunner]

You’re getting into the spirit. I passed an Obama voter ringing a bell for charity today. I wanted to tell him that Obama will take care of all the poor and he should just go home. I didn’t want to spoil his night.

[usconservative]

Is there anyone at FreeRepublic who would be affected by these proposals?

Not sure, but I bet the DUmmies would go ballistic if these were implemented, LOL!

[moneyrunner]

You could pass this along to your congresscritter.

[Arm_Bears]

I’ll see you, and raise you.

We moved from Virginia to Florida in the mid-1990’s. Florida did not have a state income tax at the time (still doesn’t) but, to raise revenue, there was this creation called an intangibles tax that was levied on all personal financial assets. Each year, you toted up the value of your cash, savings and checking accounts, stocks, mutual funds, bonds, and any other monetary instrument (retirement savings were exempted) and paid a percentage of that amount. While the percentage was low (around 1%-2%), it was odious nonetheless because it was a tax on wealth. The system was done away with a few years ago due to enforcement difficulties.

I propose imposing a similar assessment, but with a much higher percentage (say 25% annually), on dillweeds like Buffett and Gates. They don’t have much in the way of real income, so they can piously (and hypocritically) talk about raising income taxes on others. My guess is they’ll start singing a different tune once their wealth is targetted and they actually have some skin in the game.

[moneyrunner]

They have been begging for this. Pass this proposal on to your representative and senator.

[GeronL]

You know... I see where we could compromise, excellent compromise proposal there. Someone should get this to the boneheads in Congress.

:p

[The Great RJ]

If the GOP were smart they would give Obama his tax on the rich, but exempt small businesses and S corporations who file their business income on their personal returns. Obama will get his tax on the millionaires and billionaires but won’t be killing small businesses. That would catch Obama between and rock an a hard spot. However, I have little faith that the GOP court eunuchs will do nothing but give the Emperor what he wants.