Rich Do Pay Taxes
John Baxter states that the rich (super and regular) need to pay their fair share of taxes. I found his rant to hold no facts (except 1954 facts) and lots of heart. Stop thinking with your heart. The top 1 percent of income earners paid 38 percent of all federal income taxes in 2008, while the bottom 50 percent paid only 3 percent. Fortynine percent of U.S. households paid no federal income tax at all. That’s right; half of the households paid no income tax.
I saw a poll that said 51 percent of the people said their tax bill was about right, go figure. John, if you took every penny from the super rich (not just taxes), I am talking all of their assets, you could run the government for a few weeks. Then where would we be. They would have nothing left – they could not finance or keep their companies open. With none of the rich people’s companies there would be nothing but government jobs. (Think France.)
We really need to all be in this together. Change the tax code and have the people that spend more on nonessential items (big screens are nonessential) pay more in taxes. If we could move to a consumption tax or a more equitable tax system we would be a lot better off. Even better if the government just was able to balance their checkbook like we all have to, we would be a lot better off. More taxes are not the answer. Living within our means (personal and government) would be a better solution.