Tax Rates for the 'Wealthy': What do Residents Think?
We talked to Burke and Springfield residents this week about taxes, specifically: Do you think people who make more than $250,000 a year should pay taxes at a higher rate or percentage than the rest of the population? Check out the mix of opinions we got! Great, we'll send you an email as soon as a follow-up is published! This weekly video features ...Full Story
#1 Apr 17, 2011
Of course they should be! The value of money to an individual is logarithmic, not linear.
The first billion a billionaire earns will make him more powerful, comfortable, and stable than anyone any of we mere mortals have ever even spoken to :)
That second billion? What can you really do with 2B that you can't do with 1B?
Taking 50% of a bum's money, when he only has $5 in his pocket, might make it so he can't even pay for his next meal.
Taking 50% of someone's money away when they only have $1000 in the bank will probably end up making them evicted. But they're going to be able to pay for their next meal.
Taking 50% of someone's money when they have $100,000 in the bank will probably and up making them not be able to move to a larger house. But they're going to be able to continue making their house payments.
Taking 50% of someone's money when they have $2B? Sorry. It's not going to affect the individual. Maybe he'll have to get the gold statue instead of the platinum one.
Quite simply, money is worth less the more you have of it. Taking $1 from a bum is going to be a big deal; taking $1 from someone rich is not. The value of the money is the same, but it means different things to different people.
Hell, even Adam Smith, famous early capitalist, thought the rich should be taxed more.
#2 Apr 22, 2011
HE11 , they already are taxed more than others.
But don't you worry about your next givernment check , as long as oblama is renting the WH , people like you will still be GIVEN a check.
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