One of the reasons investment is frozen is investors have no way to calculate what their tax burden will be. Obama is sure to raise taxes not just once, but several times (all of which will be retroactive to the beginning of 2009.) How can a person decide how to invest if they don't know how much they will lose to taxes?
Lets have two tax system. One for Democrats, another for Republicans. Exposes the fraud
Are you looking at a cap of gross tax rate or marginal tax rate?
I appreciate the sentiment but fear that this would be portrayed as an endorsement by conservatives of tax rates up to 50%. I favor lowering the maximum rate to at least 33%.
Sort of an inverse AMT. I dig it! Although I think the %50 is still to high. 40% sounds better, and 33% sounds ideal.
Why should ANYONE pay 50%of their income in taxes? That is absolutely insane and is a direct attack on success.
What is the point of investing, or trying to be successful in your business, if the government will take an ever-increasing chunk of your revenue? And as you clearly indicated, with the uncertainty of just how much MORE of a chunk Obama and his Satan-inspired cabal of Socialists are going to extract, by force if necessary, from those who actually DRIVE our economy... what is the point of investing?
Ladies and gentlemen - we are seeing a very real coup take place, right before our eyes - without a shot fired, and without so much as a whimper from those being deposed.
This isn’t a new occurrence - it is one that has been in the making for decades. God was kicked out of schools, then the full-bore indoctrination began. First in big cities and other liberal bastions. But it has spread over the years to the whole country. Enough generations have been lied to and brainwashed into believing that socialism is a fine and wonderful system. That the rich should pay for the poor, that the real savior of everyone is the government. Well- if the government is going to “save” everyone - then it needs more money... and the onlyones with money are the wealthy... so lets lower our definition of wealthy to get more folks... and before long, everyone is tapped out and completely under the hand of government.
Welcome, Freepers - to the USSofA.
I believe “Nobody should pay more than 50% of their income in taxes” is wrong.
It should be, “You shouldn’t have to pay 50% of your income to the government”.
To me, the first version implies assent.
50%?
God only requests 10%.
On that note why should anyone be robbed of 50%?
Legend has it that the reason why the Constittutional Amendment authorizing the income tax had no cap is that politicians thought that the people would go ballistic if they had known that there was a possibility of a 10% income tax.
If you include social security and self-employment tax, the income tax rate is already more than 50%. I know that for a fact.
50%?!!!!
try 25% is more than enough for the government to take.
God Himself only wants 10%.
Who the heck do these people think THEY are to deserve more than THAT?
And let NYers, for example pay far less than those from more frugal states? I don’t think so. You’d be creating a massive incentive for states to tax higher and higher. Unintended consequences and all of that.
AM bump