Posted on 11/22/2019 11:23:27 AM PST by karpov
Regarding your editorial “The Tax Increases to Come” (Nov. 13): Your concerns about our Millionaires Surtax Act focus on the very rich—but fail to consider everyone else. Our plan asks the top 0.2% to invest more to open the doors of the American dream to others.
The U.S. is at a serious crossroads. The IMF, OECD and even the Journal’s reporting document how extreme inequality constrains economic growth. In fact, the Journal reports that wealth has more than doubled for the top 1% of households since 2003, while others mostly tread water. This gap limits educational opportunities, social mobility and consumer demand.
Today, the top 1% own more wealth than 90% of Americans combined—in part because the effective tax rate for this group has fallen precipitously over the decades. Interestingly, stodgy old Europe—with tax levels that the editorial board bemoans—now has more upward mobility than the U.S.
The Millionaires Surtax would increase the tax rate by 10 percentage points on annual incomes above $2 million for married couples, or $1 million for individuals—and it wouldn’t impact 99.8% of households. The new revenues would finance investments needed to build a more dynamic economy where everyone has a fair shot to succeed, instead of a dynastic economy based on existing wealth. And it’s supported by patriotic millionaires who agree they should do more to give others a better chance to achieve similar success.
(Excerpt) Read more at wsj.com ...
I hate these liars. They are asking in the way a mugger "asks" for your wallet. The 0.2% already "invest" plenty in stocks, bonds, and private businesses. Congress would piss away increased tax revenue on more spending, not "investment".
The letter is in response to a WSJ editorial previously discussed here, The Tax Increases to Come: Democrats in Congress want to raise the top individual rate to 47%..
Huh?
The American Dream does NOT involve picking one guy's pocket to give to another.
alternative minimum tax
They are also shameless liars.
https://www.realclearpolitics.com/articles/2019/10/15/its_a_middle-class_boom_141497.html
It’s a Middle-Class Boom
WFT does this sentence even mean? One sentence already contains two very bad and fake metaphors.
401K’s and IRA’s are next on these parasites target list.
There ain’t no “ask” to it. It is a seizure at the point of a gun.
Invest. What shyt.
SPOT ON!
Then TSPs should be included too...no, that’s different /s
Remember a Surtax is applied BEFORE deductions.
If you own a small business, it comes off the top line.
When Charlie Rangel was Chairman of the House Ways and Means Committee, this was all the rage!!
My response in four words: Thou shalt not steal.
Then we have to kill the parasites. Problem solved.
Article claims the rich who will be paying are supportive and agree they should pay more. It’s the same tired old bs we’ve heard before.
I wonder if ANY of these folks who say the should be paying more have ever deliberately overpaid their income tax?
I am not aware of it ever happening.
“Invest” joins the sad list of words that have been altered forever by Newspeak. Being forced to give money to the government isn’t investing in anything, it’s taking money away from investment. It isn’t like buying stock, it’s like paying off Al Capone.
Since when does higher taxes help create good paying jobs? Maybe the scumbag politicians should stop giving our tax dollars to corrupt governments who give sons and daughters of democrats no show jobs for millions of dollars. We shouldn’t give these criminals another cent of our money.
OK riddle me this, commies. How does an ultra-wealthy person’s ability to grow money at a faster rate than I can impact my upward mobility? That’s determined by the choices I make and the effort I expend toward wealth-building. The fact that the tippy top wealthy can grow money faster is due to the laws of compounding. It’s math, dummies, nothing more. There is no limit to the wealth all of us can build.
The “Rich”, already provide more jobs than you could ever imagine.
Just on the Westside of Los Angeles there are about 1 Million People Directly Employed in Servicing the “Rich”, homes, cars,...anything you can think of, that service is being performed everyday for the Rich Greedy Wealthy and Famous
1 Gated Community with 85 Houses has 3000 vehicles a day for Service,work,.... you name it
Translation: We will throw the borders wide open to "Others" who will come here to pick your pocket and vote for Leftists in perpetuity.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.