President Obama has repeatedly urged Congress to let the Bush tax cuts expire for those earning more than $250,000 a year. Increasing rates on top earners is an obvious way to raise revenue from those who can afford it most.
Rich people don't pay taxes? Of course they pay taxes - they pay tons in taxes. They pay for everyone else who doesn't pay taxes.
We need to consider a financial transactions tax. And we need to ask whether the top marginal tax rates are really appropriate, given that the effective tax rates paid by the wealthy are often actually lower than those paid by the rest of us.
On GOP Tax Cuts: They'll take food out of the mouths of children to give tax cuts to the wealthiest.
Yes, the rich will find ways to avoid paying more taxes, courtesy of clever accountants and tax attorneys. But this has always been the case, regardless of where the tax rate is set.
We will lower the tax burden on middle class Americans by asking the very wealthy to pay their fair share. Middle class taxpayers will have a choice between a children's tax credit or a significant reduction in their income tax rate.
Dozens of America's wealthiest taxpayers - including hedge fund legend Michael Steinhardt, super trial lawyer Guy Saperstein, and Ben Cohen of Ben & Jerry's fame - have appealed to President Obama not to renew the Bush tax cuts for anyone earning more than $1 million a year.
The voters are angry about taxes, not because they think their taxes are too high, but because the wealthy and corporations do not pay their fair share.
Is this not true--That in proportion to the value of their estates the extremely wealthy pay far less taxes than those of moderatemeans? Compare the amount paid by millionaires with the amount paid by ordinary citizens. I believe that in proportion to their estates they pay less than half as much as ordinary citizens, whereas they ought to pay more.
