The 2007 edition of the Forbes 400 wealthiest Americans was released last week. As in years past, it's one of the more useful economic annuals when it comes to laying bare the folly of antitrust, worries over the wealth gap, and perhaps silliest of all, the assumption that the rich became that way for exploiting the non-rich
37 comments:
I definetly agree with Tamny's Thesis about the wealth. They've done nothing wrong to be wealthy and the number of ectremely wealthy people are still a very small percentage of the rest of the nation. Many of them earn their wealthy status, so they shoudl have the right to keep it. Also, people who inherit wealth can't help that either, it's just a family gift, basically. So why are they getting bashed with so many taxes?? I guess the government thinks they'll plan something along the lines of "dictatorship" if they get too rich? *shrugs*
The wealthy should pay more than other middle class and lower class citizens because they can afford the burden. However, the current tax rates are outrageously high for the rich today. Some tax revision is needed, but it would be foolish to completely reduce the tax rate of an upper class American to that of a middle/lower class American because the government would lose a LOT of its major income to fund public projects.
I think its fair for the rich to pay higher taxes, even if they did earn that money fair and square. Lower and middle class Americans earn their money as well and, therefore, should pay a smaller amount on taxes. The rich are getting bashed more than they probablly should be, but they can handle it for the most part so its okay :)
I dont believe in taxing the rich with a higher tax rate. They worked just as hard or harder through out their lives to earn that money and should get to spend it and enjoy it as much as they can. Flat tax rate is the best option in my opinion, plus it would lead to inflation, which isnt bad. With people having more money to spend, it would boost the economy.
Why should the wealthy reicieve higher taxes then the rest of Americans? They worked just as hard as those who dont make a million dollars. Many of those self made millionaires took the risk to put all their belongings and future into their company. They should be rewarded for their job well done, by letting them keep their money. Were is the initiative to create something new and extravagent if the government is just going to take it away to pay for utilites that the rich are not going to use.
Although not everybody is going to get their break, thats just the way things are. Time, place, current economic status are all factors of the success rate of a business. It's just the way the chips fall.
The wealthy should definitely pay the same percentage as middle and lower classes because then it is fair. The wealthy did earn their money "fair and square" and shouldn't have to carry the burden of this country's expenditures for projects.
This is interesting I never really considered the Forbes 400 a political tool (or ailment). I thought it brought up some interesting points such as the fact that America is still the land of opportunity and that more than half of the people on the list were "self-made" millionaires if you will. On the tax factor, I don't think heavier taxes on the "rich" is an acceptable idea. If the rich have the most money to invest the less you tax them the more they will be able to spend in the economy - I would rather it go into the free market than to the government. Excuse the ramble, but I think taxes should be a standard percentage across the board.
I don't agree that the rich should be taxed higher rates than other people. I mean, if they earned the money, they earned it, and it should be theirs. They shouldn't be punished for working hard and being successful. They certainly shouldn't have to carry the burden of picking up the slack just because other people can't afford to pay as much.
I dont agree with the government taxing the rich either. The government needs to find another way to gain revenue. Eventhough middle and lower class americans struggle to pay their taxes, they still have the option to go out on a limb and invent something life-changing just like the rich people did somewhere along the line.
I belive that even though it seems unfair gor the rich, the high tax rate is good. If the rich are not taxed highly, the government does not get as much money. If the government doesn't get money, then we cannot repay off the country's dept. If the country doesn't pay off the dept, then other countries would not want to trade with us. Then, that will ultimately lower the value of the U.S. dollar and after that it would be worthless. So tax the rich high so the money that they have now would be worth somethnig later.
The wealthy can afford the higher taxes that the Goverment gives them, therefore i don't see any thing wrong with a higher tax rate. what would be wrong is to make that tax rates for the lower classes higher since, they can barley pay there taxes that are being issued right now.
Everyone works hard for there money. Taxes should be the same for everyone. It shouldn't depend on how much you make. The government should think of some other way to make money.
I honestly don't think the government should have to punish the rich by making them pay higher taxes just because they are more wealtheir or successfull. Just because one is getting paid less does not mean they are working harder then one whose paycheck is higher.
I do believe that wealthy people should pay higher taxes than the middle and lower class citizens. I understand that they do earn their money, and work hard for it, but at the same time the other classes work hard too. From the lower classes' perspective, the tax rate might be high for them.They're just trying to get by and probably do not have spare money like the rich do.
Although it may not be necessarily equal or fair for the rich to pay higher taxes, i think it is something that is necessary for our government. Even though it is not fair fot them to be penalized for being wealthy, it does not necessarily hurt them as much, but it does help the governenement, therefore i think that it is necessary for the rich to pay somewhat higher taxes.
the government should tax everyone the same. the wealthy shouldnt be punished for the hard work they labored over to achieve where they are now. i understand it is fustrating to those people stuck in a poverty cycle, but the government can come up with another way to handle that.
i think that the weathy should be taxed more because its not fair for the poor people who really cant afford their stuffs. people who iherit their weath are selfish and they need to getted tazed. you cant get everything you want. the governtment needs revision. i liked this article mister pie.
I don't agree with more wealthy people paying a higher percentage. I think there should be a flat tax where everyone pays teh same amount of money, so yes, the rich will pay more because their income is higher, but the poor will pay an equal percentage of their wealth. The government will still pull in plenty of money this way.
I feel that everyone should be taxed equally. The rich should not be punished for their achievement. The whole RobinHood idea of taking from the rich is not fair to them.
True, the wealthy got where they are financially for a reason, but that doesn't mean that they shouldn't contribute their fair share to society. Having a financial/societal advantage yields them vast rewards which more than make up for the pocketchange they have to pay to keep our country running.
I think that everyone should be taxed the same amount no matter what their income is. A flat tax would be more fair to everyone and would result in everyone paying the same percentage of their income. People would be happy that the taxes are the same and the government would be content because they would still get thier money.
i agree with the previous comments, the wealthier class of citizens make alot more money than the majority of the other citizens. Therefore they should pay what is proportional to their income, while the people that make less money pay less. Yes, tax rates are a little high and should be looked at but in the long run the same concept should apply.
The rich should pay the same taxes as middle class even if they do have more money. They worked hard for their money, so they should be able to keep a large percentage of theeir profits.
Why should someone be punished for their hard work and proportionally larger income.
Flat tax rate for all.
I don't think you should be taxed higher because your income is higher. For most people, they worked to become "rich" and successful. They should not be punished for their hard work which got them to where they are. I think everyone should be taxed equally.
I think the wealthy shouldn't pay more on taxes because is it there fault that the went to school, worked hard, struggled to get to the top, and then once they make it they have to pay these large amount of taxes. I don't think its fair because they worked hard to get the money they have its not like they sat on the coach looking at the wall.
I disagree with different tax rates for hte wealthy, rich, and poor. Even though the rich will end up paying more, the percentage of each should be the same. Every family should be paying the same amount in respect to their total income or wealth.
Although it might not be fair, I think the rich shouldn't be taxed the same as the middle/lower class... They did work hard for their money but life isn't always fair. They can still afford nicer things and such.
I believe that the wealthy should not be given higher taxes to pay just because they earn more money. The key word was earn, they worked hard and therefore, earned there money. All taxes should be approximately equal. However, without the higher taxes given to the wealthy (who by the way can afford these taxes) the Government would not have the money needed for the country. I suppose that in the end, I understand why the wealthy are taxed more than the less wealthy.
Rachel Wiley
I think there should be an even tax rate for all. If the rich made their money fair and square, why punish them for that? W cannot assume that the lower classes just work harder abd should be favored or cut sone slack. We should be fair, all should pay the same percentage. But taxes should be lower too.
A flat tax is the way to go. The wealthy (particularly the self made) should not be punished for working hard and giving American consumers what they want. The poor should still be taxed at the same rate as the rich-they should not be rewarded for spending money on drugs, alcohol, and cigarettes (this is how many of the poor stay poor). Plus, it's not like the wealthy are going to hoard the money they don't give up in taxes-even if they spend it on extravagant things, they are helping keep the economy going and money flowing.
I think that everyone should pay the same taxes because everyone works for their money in some way or another. Just because someone is rich doesn't mean they don't work hard so they should not be targeted to pay more than anyone else. There should be a flat tax and if the government needs funds, they should do fund raisers or find some other way to raise the money.
Well there are two side here, which is typical of any issue. Taxing the rich more and the middle and low class less is unfair to the rich and lowers the drive to prosper and succeed since they know the government will take their money. However having a flat tax rate would mean the government would loose alot of money. However being the actual citizens its easy to side with haveing a flat tax rate.
I feel that everyone should pay the same percentage of taxes, which has the richer people paying more in taxes since the pool of money being taxed is larger. It isnt fair that they should have to pay a higher percentage
Yea I think its kinda not cool to tax the rich more because they do EARN they money so they should not be punished for it. I would so be for a flat tax rate because we are all given an equal chance in this world and those whose work harder and are more successful should not be punished.
There's nothing wrong with having the rich pay a slightly higher percentage of their income than the poor to taxes. First off, the rich are able to do it, and the poor are already in bad enough shape and don't need to share any more of the burden. People who say that the rich and the poor should pay the same percentage don't think about how the rich are actually motivated to make money, whereas the poor either have other things complicating their lives, aren't as intelligent as the rich, or simply just don't care about making that much money. Most people in this class seems to be under the impression that money is the most important thing in life and that everyone stands an equal chance in school to achieve "success" and make money. What they don't realize is that some people have things in their life that are more important than studying for hours a night to increase their chances of being rich and doing other things out of self-glorification. Success can be multiple things, so don't assume that everyone's idea of success is to care only for themselves and improve only their own life in the future. If money means that much to the rich, then they won't mind making more of it while the government taxes them.
I think everyone should pay the same percentage for taxes. Just because the higher class citizens make more doesn't mean they did work hard to get to that position. I think the only way to keep it fair among citizens is to pay taxes by a certain percentage which is based off your income.
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