“But obama’s daddy wrote an article saying the government has the right to tax the wealthy at 100% as long as the government provides them with the service they need.”
Here’s one that makes you angry:
A letter printed in the USA Today the other day lamented the fact that the rich are ONLY taxed on the first $100,000 of their income for Social Security. He wants to tax them for their entire income, yet make a cap so they can only collect the maximum that is in place now (about $15,000 annually)!
The justification? The fact that the rich are paying the LOWEST taxe rates in the last 75 years (well yes if you include the 92% upper tax rate in the early 1960s)!
I don’t get into Left Vs. Right personal discussions but when I hear someone saying the rich are greedy and don’t pay their share I ask, “Is it greedy to make your own money legally and want to keep it or for someone to have it taken away from another without doing anything to earn it?” That is the definition of greed, in my opinion.
Not really true. The rates were dropped dramatically, and the tax shelters that the people used to avoid the obscene rates were eliminated. In the end, people payed about the same percent of GDP, but because the incentive was to earn rather than hide income, the economy expanded greatly. Not the libtards want to go back to obscene rates, and provide tax dodges (green energy, social investments, etc.) to their friends and supporters.