GOP 2012 budget to make $4 trillion-plus in cuts

I don't think the problem really comes down to what percentage of taxes the wealthy have to pay but more down to what the wealthiest in this country have to pay. Yes the top 50% of wage earners might pay 97% but the top 5% of wage earners (my numbers are not exact here) might pay 3% and the other 45% will pay 94%. It is not right that the richest in this country get to pay less than everyone else. No we are not a socialist country and I don't think people should be punished for their ability to be wealthy but I do feel that taxing should be fair and equal for all people and the richest people in our country shouldn't pay less taxes than the people below them.

It should be simple, the more you make the more you pay, oh wait it is that way unless you are one of the few who are in the top wage categories in our country and then you get all the tax breaks and crap that come from having a politician in your pocket.

But since this original post was about our budget.....

Frankly I am tired of hearing everyone complain about not cutting this and not cutting that. It ridiculous to think that programs and such are not going to be cut when our country is in the financial mess we have allowed to be created. Whoever posted the post that said that it was fine to cut programs as long as it didn't affect you was spot on. Obviously I am all about helping the poor and giving a handout when it truly is needed, what I am not about is helping those that refuse to help themselves. We have far to many people in this country who get the benefits for the poor and really have no reason to get them. I personally can think of about 10 people I know that do this. Our country can't afford to continue to give a handout to those who don't really need it at the expense of those who do. More stringent requirements for assistance programs need to put in place and I wonder how much we would quickly see that debt toll go down if we made all the people who have received government assistance when they could have got out and got a darn job start paying back what they recieved!!!!

 

I don't know that I'd equate wealth with success. There are plenty of wealthy folks who got where they are because of mommy and daddy and NOT because of themselves. I'm sure if I were born with a silver spoon in my mouth, my kids would also be born with a silver spoon in theirs. Unfortunately, I wasn't, but I'm making do, and in my mind, that's success.

-Matt

 

And more to your point:

Billionaires Buffett and Gates: Tax Us More! - ABC News


Abner

 

Your numbers aren't even close to right. The top one percent pay 34% of all taxes. Again, more than their fair share.

Ido agree with you that entitlement programs need to be monitored much more closely.

 

The people living off of their family's money is pretty limited. I like to believe if someone is wealthy the odds are it's because they worked hard. Do the children of wealthy parents have some advantages, certainly. But someone who works hard and does the right things will be successful regardless of familial connections.

 

In a perfect world, maybe. In America, well, perhaps I'm just a pessimist, but I'm not so sure I believe this will grant you success. I've seen too many people get screwed over by circumstances beyond their control. It would be nice, however, if people could work hard and get ahead, but I just don't believe that happens as much as we'd like it to.

-Matt

 

Where are the studies that these "facts" are coming from? Bill Gates didn't come from money, Mark Zuckerburg didn't come from money, Warren Buffett didn't come from money. Three of the richest men on the planet. I said if someone works hard AND does the right things they will be successful. I know plenty of people that work hard, laborous jobs, but they are in those jobs because they are screw ups and their life choices gave them few other options for work/career.
If some one is working 65 hours a week and not making at least a six figure income it's because they are a screw up.

 

That's a crappy way to look at the world, Matt. I am geniunely curious though, how do you propose we fix it? Through expensive social programs? Through tax increases that punish the wealthy?

 

I would say like this: j/k

eat the rich by motorhead - Yahoo! Video Search

As far as Matt. I could see how he would be pessimistic (as he admits). It's rough out there. We must remember that we do not live in each others shoes. Some of of us are doing ok, while others are trying to start a career. Jobs pay less, and employers require more work. The cost of food and gas has risen, while salaries remain low.

Having said that, keep your chin up Matt. Things will get better, it is just a matter of time. The world will not end anytime soon!

Abner

 

Gates's father was co-founder and name partner at a top 100 law firm long before MS took off.

Zuckerberg's father is a dentist in Westchester County. While he may not come from billions, he almost certainly comes from a family with a household income at least four to five times the American average.

Warren Buffett's father started an investment firm and was a four term Congressman. I doubt the family ever was in want of anything.

 

So they all came from upper middle class families, none of them came from immense wealth. None of their wealth was inherited. None of them used family funds to finance their business operations.

 

I don't think anyone is claiming that someone must come from immense wealth to be successful.

However, an individual coming from an upper middle class background has several built-in advantages that an individual from a lower class or lower middle class background lacks. It's not necessarily impossible to work your way into wealth from a lower class background, but it is more difficult to do so.

 

My statement regarding those individuals not coming from immense wealth was in response to MC's earlier comment that most wealth in this country is due to inheritance, which just isn't the case. The three people I referenced have become extremely wealthy and it wasn't due to inheritance. I could name countless others, but this thread is about the budget, not where wealth comes from.
Bottom line, taxing higher earners a higher rate to fund a government's out of control spending on ridiculous programs isn't fair. Just to be clear, I don't have a dog in this fight, I don't earn enough to be affected by a tax increase for the wealthiest Americans, I just disagree with it on moral grounds.

 

Zuckerberg is the only one of the three who arguably came from an upper-middle class family. I think you have a skewed perception of what wealth is. Less than 2% of all US households have an income of $250,000 or more per year.

 

I don't know that my perception is skewed, we may disagree on the definition "wealthy". I would not consider a married couple attempting to raise two children on a household income of $250k annually wealthy, I would consider them upper middle class.

 

I see your point. I think it is wise to avoid taxation whenever possible, so we must be judicious in our spending to ensure that we do not create an excessively onerous tax burden on anyone.

 

By definition someone in the top 2% of incomes is not upper-middle class. They're at the top.