President-Elect Obama's administration is already planning an economic stimulus package that will give the middle class additional tax cuts and leave the Bush tax cuts on the wealthiest Americans alone through 2010.
Why do people still think that trickle-down economics theory works? If you let wealthy people hang on to their money that's exactly what they will do. They hoard it, that's what they love to do. They won't spend it, and it definitely won't trickle down to the poor and middle class.
I think the government should start taxing wealthy individuals' net worth, that's all the assets that you have after you factor in your liabilities. And how much money do you think you need to live comfortably? I think the government should start adding on taxes on individuals with a net worth of over 5 million dollars. Income tax just taxes what we make each year
While we're at it, let's make it illegal for Americans to keep money offshore. This is how rich people avoid paying taxes on interest.
Also there is controversy over raising corporate taxes in such bad economic times. I think corporations have to be given breaks only when they show that they are creating jobs for Americans and not cutting them. There should also be tax penalties for companies that have CEOs and other high-ranking employees that make an inappropriately large salary as compared to other employees of their company. Let's force corporate America to spread the wealth around within their own ranks.
Why do people still think that trickle-down economics theory works? If you let wealthy people hang on to their money that's exactly what they will do. They hoard it, that's what they love to do. They won't spend it, and it definitely won't trickle down to the poor and middle class.
I think the government should start taxing wealthy individuals' net worth, that's all the assets that you have after you factor in your liabilities. And how much money do you think you need to live comfortably? I think the government should start adding on taxes on individuals with a net worth of over 5 million dollars. Income tax just taxes what we make each year
While we're at it, let's make it illegal for Americans to keep money offshore. This is how rich people avoid paying taxes on interest.
Also there is controversy over raising corporate taxes in such bad economic times. I think corporations have to be given breaks only when they show that they are creating jobs for Americans and not cutting them. There should also be tax penalties for companies that have CEOs and other high-ranking employees that make an inappropriately large salary as compared to other employees of their company. Let's force corporate America to spread the wealth around within their own ranks.
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