Hillary Clinton Says The Rich Are Not Paying Their "fair" Share.

[Obama 2012 1,714]

here we go. typical class warfare BS....

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http://www.politico.com/blogs/bensmith/0510/Clinton_The_rich_are_not_paying_their_fair_share.html

Secretary of State Hillary Clinton made a rare foray into domestic politics today, offering her view that — given America's high unemployment — wealthy Americans don't pay enough taxes.

"The rich are not paying their fair share in any nation that is facing the kind of employment issues [America currently does] — whether it's individual, corporate or whatever [form of] taxation forms," Clinton told an audience at the Brookings Institution, where she was discussing the Administration's new National Security Strategy.

Clinton said the comment was her personal opinion alone. "I'm not speaking for the administration, so I'll preface that with a very clear caveat," she said.

Clinton went on to cite Brazil as a model.

"Brazil has the highest tax-to-GDP rate in the Western Hemisphere and guess what — they're growing like crazy," Clinton said. "And the rich are getting richer, but they're pulling people out of poverty."

Both Clinton and Obama campaigned for president on promises to allow the Bush tax cuts for wealthy Americans expire this year, a plan that is now part of Obama's budget. The move will effectively raise taxes sharply on people earning more than $250,000.

The Administration's new formal strategy document makes the case that domestic economic strength is crucial to influence abroad.

[jimnlena 8]

I must say I figure all weathy politicans should pay IRS all there income!!!!

[I AM NOT THAT GUY 5,715]

Just tax hot air.

[Ban Hammer 13,451]

then pay up, hillary.

and no, i'd not say brazil is growing like crazy.

[KaiserD 12]

The move will effectively raise taxes sharply on people earning more than $250,000.

This seems a little steep. Now that's a lot of money here but we all know that earnings distribution is very different over the country.

http://pol.moveon.org/call/oneoffs/index_1367.html?rc=fb.2

I've gotten tired of Move On lately but think they have a point here, if their research is indeed correct.

[Peikko 1,575]

then pay up, hillary.

and no, i'd not say brazil is growing like crazy.

Is it also false that the poverty line has risen? Not that higher taxes necessarily translate into better conditions for the poor, but if in fact they have surely that is something to welcome, no?

[Obama 2012 1,714]

This seems a little steep. Now that's a lot of money here but we all know that earnings distribution is very different over the country.

http://pol.moveon.org/call/oneoffs/index_1367.html?rc=fb.2

I've gotten tired of Move On lately but think they have a point here, if their research is indeed correct.

Well, MoveOn is usually out of step as usual when it comes to these things.

The confusion here comes when people try and attribute the "capital gains" tax as an "income" tax.

Yes, the "tax" hedge fund managers pay is 15%, as that is (well was) the Capital Gains tax rate on stocks. That tax for people who invest and take money out and put money back in quite a lot for those who do this on a regular basis.

Also, it's a well known fact that every time the Capital Gains tax is lowered, then the government makes more money because it sparks more investments. This was a HUGE thing that Charles Gibson even called Obama out on back in the 2008 Presidential debates. Obama didn't understand economics and taxation and said he wanted to raise the tax out of "fairness" b/c he felt the rate was not fair. However, the rate is quite fair as those investors pay tens of, hundreds of thousands, and if not millions of dollars in taxes for what they do....

Saying it's not their 'fair' share is erronous when you look at it in sheer dollar amount AND you look at who pays the actual taxes in this country.

Things sometimes aren't always as clear as looking at a percentage point on a tax.

[KaiserD 12]

Thanks.

I have to admit I know absolutely nothing about economics.

Move On is ok but I'm tired of the theatrics they bring to everything and the constant spam I keep getting sent (usually with a request for money). The video of Glen Beck that takes your Facebook details was fantastic though, even if you like him it's worth watching just to see how cool the video was put together.

[tmma 467]

Whoo-oo ' we all gonna be rich wi' that Obama money. We gonna have no mortgage or gas to pay for...'

That's a quote from an interview with a member of the crowd after his election.

personally I can't wait to get me some of that Obama money. All you wealthy people...pay up. mama needs some more shoes...

[IndigoSkies 168]

Everyone should be tax according to how much money they make. If you're richer, you can afford more tax. So pay up. It's not like you are wasting the money. You're paying it to the government that builds your road, you #######, that you use to go to your work to make money. It provides you with military and police forces that protects your sorry ####### from being mugged. It provides nearly impossible number of benefits. This all doesn't come cheaply. Someone needs to pay. Everyone needs to pay. Rich people use more of government's resource and they should pay for it.

I'm semi rich. I wouldn't mind paying more taxes if everyone paid more taxes. But until everyone does, I'm going to compain about paying nearly 35% of my income.

[Obama 2012 1,714]

Everyone should be tax according to how much money they make. If you're richer, you can afford more tax. So pay up. It's not like you are wasting the money. You're paying it to the government that builds your road, you #######, that you use to go to your work to make money. It provides you with military and police forces that protects your sorry ####### from being mugged. It provides nearly impossible number of benefits. This all doesn't come cheaply. Someone needs to pay. Everyone needs to pay. Rich people use more of government's resource and they should pay for it.

I'm semi rich. I wouldn't mind paying more taxes if everyone paid more taxes. But until everyone does, I'm going to compain about paying nearly 35% of my income.

http://www.moneybluebook.com/2010-federal-income-tax-brackets-irs-tax-rates/

Tax Rate Married Couples Filing Jointly Most Single Filers

10% Not over $16,750 Not over $8,375

15% $16,750 – $68,000 $8,375 – $34,000

25% $68,000 – $137,300 $34,000 – $82,400

28% $137,300 – $209,250 $82,400 – $171,850

33% $209,250 – $373,650 $171,850 – $373,650

35% Over $373,650 Over $373,650

Now stop complaining

[Usui Takumi 1,562]

http://www.moneybluebook.com/2010-federal-income-tax-brackets-irs-tax-rates/

Tax Rate Married Couples Filing Jointly Most Single Filers

10% Not over $16,750 Not over $8,375

15% $16,750 – $68,000 $8,375 – $34,000

25% $68,000 – $137,300 $34,000 – $82,400

28% $137,300 – $209,250 $82,400 – $171,850

33% $209,250 – $373,650 $171,850 – $373,650

35% Over $373,650 Over $373,650

Now stop complaining

Its still fair, because everyone is taxed equally for each bracket.

IE. An admin assistant who gets her income between say 16,000 and 32,000 taxed at X rate will be exactly the same rate as a Doctor's income between 16,000 and 32,000.

[jimnlena 8]

I still like a national sales tax, everyone pays when they buy something.

[Usui Takumi 1,562]

I still like a national sales tax, everyone pays when they buy something.

That would actually reverse the tax rate

[Texanadian 10]

http://www.worldwide-tax.com/brazil/brazil_taxes.asp

Check out Brazil's tax rates. The personal income tax rates look quite decent actually. Top rate of 27%. But those Social Security taxes are a killer.