Seriously. wtf.

If you follow the news you would have recently read that the richest American, Warren Buffet, asked if he could be taxed a bit more to contribute. In France, which apparently the arch enemy of the US seeing as they don't support toppling of random dictators, a new tax on the wealthy is being imposed. In fact, following in the footsteps of Buffet, the rich people asked the French government to tax incomes over €500k (~$722k) at an addition 3% until the French government deficit was reduced. The French government heard the rich people and the tax in now in effect until the deficit closes to 3%, which is expected in 2013.

See, that's how a AAA society is run. ;)

 

Views: 556

Comment by Rick on August 26, 2011 at 9:27pm

if America's top earners collectivly asked for a tax hike, im sure they would get it. the problem is they dont want it and spend a lot of money paying government officials to make sure they dont have to pay a lot of money to the government. Makes perfect sense to me.

Comment by Patrick Scherr on August 26, 2011 at 9:35pm

France doesn't support the toppling of random dictators? Is a different France than the one leading the NATO mission in Libya?

 

Seriously though, thats great for France, considering how the Euro is doing.

Comment by Filippo A. Salustri on August 26, 2011 at 9:57pm

Far be it for a Canuck like me to comment on taxation in the US, but Sam Harris has suggested that it makes a great deal of sense to tax the rich more.  I have to agree with him.

I know some rich people.  They're weird.  I'd be utterly embarrassed to have all the expensive "stuff" that they have.  $5,000 toilets?  Really?

According to Forbes, the 400 richest Americans only pay 18% income tax.  Truly, WTF?

Comment by Joseph on August 26, 2011 at 11:18pm

I wonder, who is this global authority that gives out ratings on "society?"  Is there a points criteria for freedom of religious expression?  Or is it pretty much a financial sort of thing?

Comment by Kairan Nierde on August 27, 2011 at 1:31am

Most Americans live by the mantra of: I've got mine, so screw you.  Laissez-faire capitalism has transcended itself.  It is more than a religion.  If the rich transgress this primary rule, and pay their share of taxes, it would be great for America.  It would take a shift in values or a realization that the highly mobile, elite class can have more fun playing within a robust global market, which needs their allegiance on a local scale in order to thrive.

Comment by Reg The Fronkey Farmer on August 27, 2011 at 5:16am

Sam Harris commented on this also.

Comment by Arcus on August 27, 2011 at 5:24am

I find it kinda funny that some seem to be offended at this post. Listen to your friends when they criticize you, because they know where the real problems lay. :)

Also, every American should donate to the IRS such that their personal tax rate is at least 40% (btw, I personally pay 52%, which I find a bit excessive): http://www.fms.treas.gov/faq/moretopics_gifts.html

Time to put your money where your mouths are, tax cheating bastards who are not contributing sufficiently to society. ;-)

Comment by Lewis Smith on August 27, 2011 at 7:53am

Naw, the top 1% controls over %50 of the wealth but lets tax the bottom %50, they're not doing their share!!! Cut the funding for schools and medicaid, because the rich need their fancy cars more than old people need health care!! -sarcasm-

Comment by Ed on August 27, 2011 at 8:20am

Instead of taxing any one group of people more heavily why not just practice fiscal responsibility? Why is it necessary to spend more money than we have on hand? Bill Clinton, a liberal from my state of Arkansas (which BTW is one of the few current state governments to operate in the black), left office with billions in the government bank. It can be done.

The liberal viewpoint of just ask for more from the rich does not address the core problem of why are we spending more money than we have to work with. This tendency to live beyond our means at the federal level is an extension of our financial psyche in the private sector. Millions of Americans are living beyond their means and continue to float debt through our credit card system. Our love of materialism needs to be put in check at some point.

An across the board tax rate that eliminates the IRS has a lot of support these days. No more IRS or yearly tax ppwk..... that would be a beautiful thing.

Comment by Arcus on August 27, 2011 at 8:47am

@Lewis: If I recall correctly, the top 2% income earners pay 26% of all taxes. Hardly seems like fair system...

@Ed: I agree. The Af-Iraq wars have cost approx double what the Vietnam war cost, in real terms, and a fiscally responsible government would raise that money through AA+ rated bonds and taxes. Also, how's that medicare/caid and retirment system founded? Through savings or running gvmt income?

Eliminate all entitlement programs and the Pentagon, and et viola: The US is fiscally responsible. However, that cure may kill you...

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