No Idea At All. NONE!

Posted: September 5, 2008 in Politics

James Pethokoukis is the money and politics blogger for U.S. News & World Report. He writes:

Jimmy P. at the DNC—I took another poll of 24 DNC delegates. I asked them “What should ‘the rich’ pay in income taxes.” Here is what they told me:

1. 50 percent said “25 percent”
2. 25 percent said “20 percent”
3. 12 percent said “30 percent”
4. 12 percent said “35 percent”

Average: 25.6 percent

Me: Of course, 25.6 percent is actually lower than what the top rate is today. Barack Obama, by contrast, wants to raise it to 39.6 percent. None of the delegates said that the rate should be higher than 35 percent. (more…)

Plus, this from the National Taxpayers Union

My family got KILLED with taxes these past two years. Anytime we had a good month (we are in sales), mister government treated us as if we were on top of the food chain. I’m still very angry over it because I know how hard we both worked to get to this point in our lives.

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Comments
  1. noweapon says:

    I am so happy to find this site.
    your post was right on!
    I am looking forward to returning and seeing what other tidbits of knowledge you can impart to me.
    thanks so much

  2. grownANDsexy says:

    Thanks for the info. I’m a demacrat but I do think Obama panders too much to those who are way to extreme with their views.

    I like him, but I also like McCain. When it comes to taxes it is clear that those who earn more should pay more BUT I have a totally different idea on what “rich” is and I am certainly not behind creating a wellfare state of people who take risks and chances to make it ave to pay for those who don’t even try.

    Its like if you make it then you have to be punished for it by having 5 months of pay going to taxes.

    Rich to me is someone who earns more than 500,00 as a single person (no kids to support and no wife with earning power). If I really want to get technical, I think those who earn more than 4.5 million (High Net Worth individual) should be taxed the most.

    More money means you have more oppertunity to save by buying on scale and you also have places you can invest in. People who have more money also have more of a marginal perpensity to save and keep the money out of the economy than those of lower means. NEVERHTELESS I think there is a need for smarter taxes instead of just the same old “lets just tax the rich because they can offord it” tactic.

    I want smart taxes. Taxes that keep the economy going, taxes that maek people say, hmmm I better invest so I can keep more of my money, taxes that say hmmm as a business I need to put more on R&D so i can keep more money…

    Sorry bout the rant, but i am so tired of old politics. I want my leaders to say what’s right because it is right and not because it conforms to populist views.

  3. Wil says:

    There are ways to legally reduce your taxes. Lots of rich people pay relatively little.

  4. Duane says:

    Yes, they are called “write offs” and write offs do have its limits. Plus, that still does not change the fact that the more money you make in this country, the heavier the tax burden you carry. For whatever reason, much of the public has bought into the notion that rich means you did nothing to earn it.

  5. Give it a rest says:

    Duane,

    Have you or a member of your of your family ever traveled abroad? If so than the “high” taxes you pay have been put to good use.

    Do you own property that you like the police to keep safe?
    If so than you high tax burden is justified.

    As you have mentioned, you are in sales so I guess you do expect Mister Governement an its nice little court system to be there if and when yo might need to take legal action against a costumer/ client?

    Oh, lets not forget about the good US navy that is there to protect those shipments that are coming here from overseas so you will have stuff to sell.

    The poor and average man in the USA could careless about an US Embassy in a foriegn country that is there to help out and protect foolish American travels and businesspersons who f*&k up in other countries.
    The average Joe does NOT have a place of business that require police protection IN ADDITION to their home.
    etc, etc, etc, etc………………

    On the otherhand the really wealthy have the means to afford “private” services were all of you “couple hundred grand a year” business owners NEED the government to ensure their livelyhood on EVERY level.

    By admitting that you have been making very good money over the last few years you are also admitting to needing the services of your good ole government a bit more than you did in less profitable years.

    Pay your taxes and keep it moving!

  6. Duane says:

    Do you own property that you like the police to keep safe?
    If so than you high tax burden is justified.

    And I guess the police doesn’t take care of other communities as well? Here’s the other thing, I RARELY see the police in my community. Why? Because folks around here know how to police themselves. OTOH, you know very well where the police spend most of their time. If you are going to break it out like that, folks in those neighborhoods should pay more of the taxes. Personally, I don’t agree with that scenario, but I won’t fight it either.

    As you have mentioned, you are in sales so I guess you do expect Mister Governement an its nice little court system to be there if and when yo might need to take legal action against a costumer/ client?

    Again, same services are available to everybody. What’s your point?

    By admitting that you have been making very good money over the last few years you are also admitting to needing the services of your good ole government a bit more than you did in less profitable years.

    Wha..?????????????

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