Do The Rich Owe the Poor?

The guy makes a good argument for stupid!

What the rich DO owe, is taxes.

Like it or not, facts are facts.

The "rich" have a higher tax rate BUT with loopholes, deductions for everybody and Sam's cat, they actually pay LESS taxes.

And, I've been able to figure that out all by myself over the past 67-years.

Pete

The rich may pay less tax because of loopholes -- but they still pay tax. I'm not rich but I will pay more tax this year then a single mother I know with two kids, earns at her job. And what do you think she will pay for tax this year? It doesn't matter -- she will get everything she paid back, when she files.

But you make a good point here Pete:

The guy makes a good argument for stupid!

The article is nothing more then verbal diahrehia, expounding upon a topic that anyone with better then a grade 8 eduction is aware of.

But as a business owner, I don't have any problem with the woman with two kids driving on better highways, having better medical coverage, improved schools, etc., etc., etc. Sure, I might complain at times how I resent paying so much in taxes, but I'd like to think some of it goes to projects and people that can use it, rather then being wasted on superficial government expenditures. You have to take the good with the bad....

The same tax breaks the wealthy get, will be available to you when you become wealthy. And becoming wealthy is a matter of choice, for some of us. If you become wealthy, you won't complain about these tax breaks because you will be using them to put extra dollars in your pocket too.

But money isn't everything....

A friend of mine; we are the same age -- he's makes twice what I make. In his free time (which he doesn't have compared to the free time I have) he likes to come down to my cottage (on the Bay of Fundy) and he likes to hunt and fish -- like I do.

We had a discussion this Summer about how I could make more money if I wanted to. Sure, he has a little nicer place to live, drives a little nicer car, but when it comes right down to it, both of us like to spend our time fishing and hunting. I told him... I don't want to make any more money. I'm happy where I'm at, and it gives me plenty of free time to enjoy things that I want to do.

Originally Posted by Pete

And, I've been able to figure that out all by myself over the past 67-years.

Good! Then we won't have any argument over Andrew Tallman's article. It's a free country and even idiots can get degrees.

Regards,
Steve MacLellan

The original rationale for all those tax loopholes for the rich was the so-called 'trickle down effect' which was supposed to provide more jobs, better financial stability to businesses, and a better life for all. Unfortunately, for the most part, it hasn't worked out that way. The rich give only where it benefits them directly in some way or another, they invest where they can get more tax benefits or write-offs (which amount to the same thing for them), and make a big ballyhoo when they do something truly unselfish and provide some benefits to those less well off.

Frankly, if the rich paid their way, in the way that middle class folks do, folks wouldn't have to cope with so much corruption and greed, wouldn't have to crawl and beg for the basic essentials in life because the wealthys' 'fair share' would pay for a lot of it. There are some mighty good (and some bad) arguments for a flat tax rate as long as those on the lowest levels, not the highest levels of income, are accounted for with compassion. That's where the tax breaks should be, folks...for those who need the income the most to provide for life and health.

Sandi Bowman

Before I comment, I am not rich but I am one who reads and thinks and weighs out the issues.

When it comes to the whole argument about the rich not paying their fair share in taxes, I would like to know what you are measuring that by. Before you comment consider the following:

It is the rich that assume the greatest risk in business, not the poor or middle class. Would you want to assume their risks?

It is the rich that employ the poor and middle class and pay half or more of each employee's taxes. Would you want them to stop doing this and you be responsible for paying all of your employment taxes?

It is the rich that provide the most jobs, expand their businesses to create even more jobs. Would you want them to stop doing this?

It is the rich that everyone looks to for a hand out, not the poor or middle class. Would you prefer the poor or middle class look to you for a hand out?

It is the rich that everyone complains about, but depends on the most.

Since the rich are providing the most jobs, to the poor and middle class, why is it that the poor and middle class employees do not want to take responsibility for their actions and will not do their jobs with professionalism and continually provide poor customer service?

Why is it that the poor and middle class want to live like the rich, have what the rich have, but are not willing to become rich so they can become like the rich?

Getting back to the original poster's question. "Do The Rich Owe The Poor?"

Nobody owes anybody anything. Each individual owes it to himself, his family, his neighbors and his country to be diligent and be the very best they can. That is what makes for a prosperous union for all.

The moment you take your eyes off your goal and start looking around at what so & so isn't doing, or why that business isn't paying their fair share, then you have lost the race for success.

Those who succeed focus on the goal they're striving for. If more people spent more time pushing on and ignored the dogmas that drag us down, we wouldn't have near the complaining that idle people seem to thrive on.

I am not rich nor poor. But I think there are more tax loop holes made for rich that they can easily escape. They remain rich. On the other hand poor due to lake fund for social funds dont get any facilities. So, rich must under stand this and must pay tax for the benift of the poors. Because what they earn is with help of poors or working class. So, they owe to them.

Sudar,

Let me get this straight.... because someone has worked hard/smartly and saved their money and maybe invested some too - and - over the course of their life, they have become wealthy... just because they Now have more money, they somehow Owe some of this money to people who have not worked hard/smart nor invested over the course of their life.

Is that pretty well what you're saying?

Let's break it down another way...

I have a widget for sale. I offer this widget for $10. You buy it. I now have your $10 and you have a widget. Thus, my financial wealth has increased.

How do I then owe some of this $10 back to you?

I do NOT. The transaction was done. Completed.

But what you're saying is... just because I sell many of these widgets I must now give some of that money to people who bought my widget and those who didn't buy my widget but who you deem worthy of having some of my money.

Another way...

I work 60 hours a week while you work 40. We do this for many years. And now, years later, because I was willing to spend the time to work and have more money than you, I somehow Owe you some of this money?

How do I owe you money?

I do Not. I worked while you had leisure time. I owe you nothing.

But what you're saying is... just because I have more money I must now give some of that money to people who worked fewer hours than me and who worked for less money than me.

You advocate slavery.

Michael Ross

Originally Posted by Steve MacLellan

Sure, I might complain at times how I resent paying so much in taxes, but I'd like to think some of it goes to projects and people that can use it, rather then being wasted on superficial government expenditures.

According to the Grace Commission report:

With two-thirds of everyone's personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government.

That was in 1984. Probably still true.