[Cincinatus' Wife]

Eat the Rich - By P. J. O'Rourke

[goldstategop]

BOSTON GLOBE CLASS WARFARE ALERT

[tm61]

you gotta pay taxes to get a tax break. the libs just want income redistribution. take from those who earn, give to those with their hands out.

[Mike Darancette]

.....one-year cut in the Social Security payroll tax, which
is a disproportionate burden on low-income people. At a cost of $140 billion, the Roundtable's plan would provide $620 to almost every wage earner.

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If you cut $620 for every wage earner does that mean the employer will have $620 less payroll tax as well (matching payment)?

Will people subject to the "Self-Employment tax get to keep an extra $1,240?

[johnny7]

Unless a consumption tax came with exemptions for basic items such as food and clothing, it would favor more-affluent Americans.

Whaaa... ? Wealthy people spend more money... they would pay more taxes!

This is pure communist BS! People with money throw parties and buy lots of clothes. They eat well too!

The Boston Globe is no better than The Daily Worker. BTW, P. J. O'Rourke is excellent!

[KeyWest]

Basic error in this is th assumption that only the rich own stocks. Obviously, the writer has never heard of 401ks or any other retirement funds.

[The Raven]

a reasonable idea were it not part of a drive to shift federal taxation away from wealthy Americans

There they go again!!!! If the "rich" were a race, color, or creed.....this would be outrageous. The socialists of the past have an ugly record in this regard. The rich are killed in mass quantities. As Yogi said, "You can look it up" [ or was it Casey?]

[OXENinFLA]

http://www.freerepublic.com/focus/news/812220/posts

I think Congress needs to look in their own back yard.

This is the story last week about Over 1/2 of new congressman are Millionaires.

[Sparta]

"The nonprofit advocacy group Citizens for Tax Justice"

I have a correction for the Boston Daily Worker.

The socialist special interest group Citizens for Tax Justice.

This is the same divisive class warfare rhetoric the Boston Daily Worker, the NY Slimes, and Washington's quaint, little alternative newspaper, the Washington S**t are famous for. Bush needs to counteract this socialist BS with a proposal for a 10% Flat tax and plans to cut spending in government.

[glory]

The nonprofit advocacy group Citizens for Tax Justice estimates that the top 1 percent of earners - those making more than $356,000 a year in income - pay nearly half of all dividend taxes, meaning they would get nearly half of the tax break>>

Let's say this the right way then shall we, that the bottom 99% of wage earners pay MORE than half the dividend taxes meaning they would get more than half the tax break. Liberals twisting words as usual. Sure the rich have more invested therefore pay more in dividend taxes, but it sure sounds like an awful lot of "ordinary" Americans who have saved for a nest egg will get a break as well--my family included. Next thing you know though, these goofs will want a progressive tax on dividends. If you make so much a year you get taxed on them if you make less, you don't.

[Kozak]

It's hard to cut taxes on people WHO DON'T PAY ANY.
Increasingly a smaller and smaller percentage pay a greater and greater share of the taxes.

[Brookhaven]

A majority of Americans do not own stocks,

Yes they do, but it is located in their retirement accounts, college funds, or other mutual fund.

[TakeitBack]

"the top 1 percent of earners...pay nearly half of all dividend taxes..."

Stop right there! If the Libs want to argue inequality, they need to begin with that statement.

Their definition of "rich" are those who earn $50K or more. They want to (somehow) bring tax cuts to those who don't pay taxes at all - to those on the dole.

Same 'ol shite from these people - all blather and nothing like facts or common sense to back it up. All smoke 'n Mirrors. All propaganda.

[Chancellor Palpatine]

Dividends? Some American corporations pay dividends?

Seriously, this may be just the tool to straighten out values in the stock market. This would be a great use of tax policy to fix a very real problem with overvaluation of losers. Imagine - having the highest priced stocks being the ones which pay the most dividends, as opposed to losers which never pay out anything.

Companies would actually try to pay out more as opposed to hanging onto money in bloated budgets.

[taxcontrol]

I think reducing the tax is the right idea but they are using the wrong reasoning.

If the justification is that the earnings are taxed twice there are two possible solutions. The first would be to not tax the income earned with dividends. The second, would be to allow corporations to deduct dividends paid out as an expense and thus not tax them at the corporate level.

Personally, I think the second option would improve corp fiscal responsibility by returning to a time when investors expected a RETURN on thier investment - not just the hope of selling their stocks at a higher price.

[theDentist]

Further proof that the Globe should only be used to housebreak puppies or line canary cages.