Problem :: Taxes on the rich and super rich MUST be raised significantly.

Taxes on the rich and super rich MUST be raised significantly.

1,801 Views / Posted by Jose Fernandez

Every person is affected by the loss of revenue in the United States. From drying up social services, to pot-holed roads to schools that jam 2-3 grades into a single classroom; the effect is pervasive. The Bush tax cuts should have expired but the wholly bought Congress and President cannot do such things. As a people we have to demand the raising of taxes on the rich, and especially, the super-rich to bring our country back under control. This is perhaps the simplest solution to dozens of current social and economic problems.

Supporters: Jose Fernandez, Abner Holsinger, Aaron Wilton, Chris Wooten, Beth Cozzolino, Trent Northen, Ed Ant, Allen Kafchinski, Joshua Field, Jonathan Wallis, Tom Capasso, Shane Patel, Jake Lynch, Kyle Halgerson, Kelly Wooters, Brian Sperling, Nathan Bouscal, Kyle Rutland, Lisa Matulevicz, Timothy Suen

Opponents: Craig Snoeyink, Jonathan Allred

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Jonathan Allred / October 31, 2011 at 11:22 AM DT

I agree with repealing the Bush tax cuts, but the language you use leads me to believe you might be contemplating something beyond that.

Solutions

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6		Eliminate the Capital Gains Tax. All income should be taxed at the normal tax rate.
		The problem is not necessarily that the top-tier tax rate is too low (35%, currently), but instead that people in the top-tier do not pay it. Instead, any money they make from their investments is taxed at the lower capital gains rate (15%). By counting capital gains as normal income, it re-establishes the intent of the existing progressive taxation system.
2		Implement President Obama's five principles for tax reform and improve the current progressive income tax system
		Given the nature of the progressive tax system, it would be beneficial to government revenues and the economy for policies to be implemented that alleviate income and payroll tax burdens on the middle and lower classes and that increase income and payroll taxes on the top brackets. This adjustment in policy would allow for everyone to pay their â€œfair shareâ€ as an egalitarian, democratic economy requires. This is proposal is needed given the current economic conditions, and additionally provides the compelling force necessary to motivate citizens to render taxes, in proportionality to their wealth.


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