Reply With QuoteI hate that midget. *shrug*
Senior Member
Tax the wealthy to keep everyone healthy
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It's what the House of Representatives wants to do to pay for healthcare. It's a good idea, and a great slogan
By Robert Reich
July 16, 2009 * It's the most blatant form of Robin Hood economics ever proposed. The universal healthcare bill reported by the House Tuesday pays for the health insurance of the 20 percent of Americans who need help affording it with a surtax on the richest 1 percent.
I don't recall the last time Congress came up with such a direct redistribution. Occasionally Congress closes a few tax loopholes at the top and offers a refundable tax credit to workers at the bottom, or it creates a poor people's program like Medicaid, paid for out of general revenues from a progressive income tax. But to say out loud, as the House has just done, that those in our society who can most readily afford it should pay for the health insurance of those who cannot is, well, audacious.
There's another word for it: fair. According to the most recent data (for 2007), the best-off 1 percent of American households take home about 20 percent of total income -- the highest percentage since 1928. Yes, I know: Critics will charge that these are the very people who invest, innovate and hire, and thereby keep the economy going. So raising their taxes will burden the economy and thereby hurt everyone, including those who are supposed to be helped.
But there's no reason to suppose that taking a tiny sliver of the incomes of the top 1 percent will reduce all that much of their ardor to invest, innovate and hire in the future. Yet if this tiny sliver means affordable healthcare for a far larger number of Americans, who will be able to get regular checkups and thereby stay healthy and productive, the positive effect on the American economy is likely to be far greater.
Don't believe critics who say the surtax will harm small business. According to the Center for Tax Justice, it would hit only 5 percent of small-business owners -- realistically defined as taxpayers for whom small-business income makes up at least half of their adjusted gross income (from schedule C businesses, partnerships, family farms and Subchapter S corporations).
Besides, only the profits of a small business would be taxed. The owner of a small business deducts money paid to employees as compensation, as well as operating costs. So, for example, a couple whose income comes entirely from a small business would have to earn more than $350,000 in business profits -- after paying all their expenses, including salaries -- before the surcharge would affect them at all. And if they earned more, the surcharge wouldn't reduce their incentive to hire more employees because they pay employees with pre-tax income. And not even purchases of equipment to expand business operations would be affected because most small business owners can write off up to $250,000 of the costs of such equipment immediately.
A surtax is easy to administer. And the whole idea is easy to understand. Tax the wealthy to keep everyone healthy. Not even a bad bumper sticker.
FROM..
http://www.salon.com/opinion/feature...thy/index.html
Loyal to the end
I hate that midget. *shrug*
For health care reform to be of any value, every American resident must be covered.
Everyone capable of paying premiums must do so.
Those unable to pay should be subsidized.
Health care reform should be paid for based on ability to pay.
While it is true that this will put a heavier burden on the wealthy, that is justified, given that wealth in this country is unevenly distributed.
With 1% of the population owning 34% of the wealth of our nation, 5% owning 58.9%, 10% owning 71%, 20% owning 85%, and the lower 40% owning less than 1% of the wealth, the societal gain from marginally taxing the rich should be seen as the price to maintain a viable society.
Working people pay taxes on their income, while the rich, whose income is tied to stocks and investments will generally pay a maximum indexed tax to 28%.
Working people pay Social Security on all their income while the rich don't pay Social Security on income over $106,000.
The argument that asking the rich to pay more is unfair or would hurt the economy is at best a scare tactic and at worst selfish.
The population at large will be able to influence Congress to pass health care reform by sheer numbers.
Member
Document how much money this country already spends on government medical programs (Medicaid, Medicare and VA).Originally Posted by meme
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It's what the House of Representatives wants to do to pay for healthcare. It's a good idea, and a great slogan
Document how much money this country would have to spend to provide the existing level of care to each and every 300+ million U.S. inhabitants.
Suppose the top tax rate is only 50% then define rich.
High Level of Addiction
From each according to ability; to each according to need...
Today much of corporate America is living on welfare in the form of tax breaks and direct government subsidies.
To divert us from this estimated two hundred billion dollar a year corporate welfare rip-off, rightwingnut racist media pundits like Limpballs and Shammity aim their fire at the poor on low-income welfare (which amounts to less than one third of what corporations take from the treasury.)
State governments dole out billions in "incentives" to lure big business from other states or to keep the corporate whores already there from going elsewhere.
The federal government doles out billions more in subsidies and tax breaks to corporate special interests. Meanwhile the corporations return the favor by pouring millions into the campaign coffers of the GOP.
The Democrat Party opposes all forms of welfare for corporations and the rich.
We support a total end to corporate tax breaks and subsidies.
To stop tax concession competitions among states and communities, all corporations should pay a standard community investment tax wherever they go.
We support strong national standards for labor rights and the environment so that corporations can no longer force states and cities into a brutal competition for jobs at any cost.
Junior Member
I'm pretty sure whatever the plan ends up being, I'll be paying less than what I'm presently paying for insurance premiums. COBRA was costing me about $450 a month. There is 0 chance I'd wind up paying anything close to that in taxes for universal health care.
Over the past twenty-five years, while we have suffered a decline in our standard of living, a staggering amount of wealth has been pumped up into the hands of a tiny elite. Never before has so much money been diverted into the hands of so few.
From 1983 to 1989 alone the top one percent of all families increased their wealth by over $1.45 trillion. During the same period the national debt increased by $1.49 trillion.
We need to make the rich pay their fair share.
To ensure that they do, I propose the following kind of wealth taxes:
Higher income tax rates for the rich and the elimination of all tax loopholes used by the rich.
Reductions in sales and personal property taxes that hit working people the hardest.
A wealth tax on those with over $2 million in net worth (total assets minus total debt).
A tax on all mergers and acquisitions of over $1 billion, which would slow down the corporate destruction of jobs through giant mergers.
A tax on all stock options valued over $1 million to discourage inflated CEO compensation.
A tax on all electronic transfers of funds over $5,000 to and from the U.S.A.
A tax on savings and loan institutions to pay back the $500 billion S&L bailout.
A tax on churches and religious institutions with $100 million or more in assets.
A 100 percent tax on that portion of executive salaries exceeding twenty times the average worker’s pay in that corporation.
Such taxes would not only make our tax system fair and just, but it would also provide this country with the needed funds to provide decent jobs and benefits for all.
Member
Actually they don’t. Because of the rate structure, the personal exemption and deductions for children the working class pays very little of the federal income burden.
http://www.parapundit.com/archives/004657.html
The top 1% of taxpayers, people making more than $364,657 a year in income pay over 39% of what is collected in federal income taxes each year. The top 10% of taxpayers, people making over $103,912 a year in income, pay over 70% of what is collected in federal income taxes each year.
People making less than $30,881 a year in income, the bottom 50% of taxpayers, pay less than 4% of what is collected in federal income taxes.
Practically Perfect
Ouch.
"It [the draft] is duty rather than slavery. I part with the author on the caviler idea that individual freedom (whatever that may be to the person) leads to nirvana, anyone older that 12 knows that is BS."
-(Midcan5)
"Allow me to masturbate my patriotism furiously and publicly at this opportunity."
-(Ib1yysguy)
"There is no 'equal opportunity' today unless the government makes it so."
-(apple0154 )
"abortion is not killing Its birth control"
-(Desh)
A Realist
Exactly!
McCain to Obama. "If you don't like our bill, send troops to help us."
Obama, himself attempted to filibuster Justice Alito, who now sits on the Supreme Court.
Verified User
Hillary care will fail again.
The stone that the builder refused
Will always be the head corner stone
Member
It probably evens out when all taxes are taken into consideration. The wealthy pay a higher percentage of their income in income and property taxes. The working class pay a higher percentage of their income in sales and energy taxes. The people that are raking in the gravy are the “poor” who pay no taxes and live off of welfare.Exactly!
I fully support the idea of tax reform, but only with a constitutional amendment that would regulate what can be taxed at the federal, state and local levels. I also insist on a wide range of tax options so the tax burden can be more evenly spread out. Nobody should be taxed more simply because they are rich and can afford to pay more in taxes- AND NOBDOY SHOULD BE ALLOWED TO PAY LESS JUST BECAUSE THEY ARE POOR.
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