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Why the big argument about income tax for those earning over $200,000 net?

If I had the chance to invest all of my income over $199,999.99 back into my business and avoid the higher tax bracket, I'd be stoked.

If we accept that a polarization of wealth has been occurring, shouldn't we reward those who choose to reinvest their earnings into their companies (and therefore the economy as a whole) more than those who choose to sock all of their earnings away in offshore accounts or spend in all summer on the Cote d'Azure?

9 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    They think if you cut the tax to the rich, the money will "trickle down" to you, hence trickle down economics.

    It has been tried by several and it never worked

  • 1 decade ago

    Who are you to decide how much income someone should have before they get taxed more? I have had years when I took more than 200,000 in salary, and many many years when I took less...or none to keep employees working. There are also years that I donated more than 200,000 to charity...and helped far more people with that that the government could.

    The fact is that in my case alone, I got tax cuts and incentives under the Bush tax cuts that created jobs...and their production has created jobs...etc. And the income taxes and payroll taxes alone...not counting the sales taxes when they spent and the jobs created when they bought/built houses, etc....but just the income and payroll taxes alone have generated over 6000% more revenue for the government than I received in tax breaks. Between Obamacare and if those taxes come back, I would be forced to lay off for the first time in my 46 years as an employer...and that is even if I cut my own salary to $0.00

    Face it, Obama is a disaster!

  • ?
    Lv 6
    1 decade ago

    It is clearly class envy. The people on the democrat side believe it's OK to simply take and tak and take from the people who have applied themselves, used theri heads and worked hard.

    All of the intercity welfare proliferaters that produce fatherless babies are in the democratic bloc... hands out and wanting more for doing nothing, more from those who do something.

    The democrats are in bed with the communists... Real sad.

    http://www.cpusa.org/12-days-to-go-the-election-de...

    QUOTE: If the grand alliance that elected Barack Obama comes out in full force to vote we can stop the Tea Party/Republican takeover, continue moving forward and push further for green jobs, union rights, health care and the safety net for the common good.

    .

    .

  • Janet
    Lv 6
    1 decade ago

    There was no job growth with the tax cut in place. Why do some assume that by extending it we will suddenly have job growth? It makes no sense to me to leave things as they are and expect some magical change to happen.

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  • ?
    Lv 6
    1 decade ago

    You fail to realize that, short of stuffing their money in the mattress, it will always be working in the market. In the bank it is used as capital, to lend out to others, if spent on goods and services it gives someone a job, most likely a good paying one.

  • ?
    Lv 4
    1 decade ago

    Right you are, they got a 3 trillion dollar tax break and put 2 trillion of it in Swiss Bank Accounts!!!!

  • 1 decade ago

    So that's why you want to tax the wealthy because then they invest in their business to avoid being taxed...

  • ?
    Lv 4
    1 decade ago

    Why should people be taxed for being more successful? It should be a fair percentage all around.

  • Anonymous
    1 decade ago

    taxing the rich will never result in job growth. <<<<common sense>>>>

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