Flame — HabitableZone

Flame » in reply to re: So What Did You Miss?

That's An Exageration of Impact On Wealthy

Stripping the rich of their wealth? Who's advocating that? Get real Tom. No ones proposing anything more draconian than stopping growing income disparity. The only wealth I want to see stripped is the CEOs who ruined their companies, and that money should go back to the share holders not government coffers or the public at large.

I'm for repealing the bush tax cuts on those making over $250,000/year with possibly some allowance for high cost areas. At most another 5 % on incomes over 1 million/year. I would also be willing to consider 5 to 10 % more on incomes over 10 milion, but would prefer stronger shareholder say on board members and CEO pay as well as some limit based on performance and company size if given a choice between the two. These tax rates are still far lower than earlier periods. None of these things strip existing wealth. I stand to inherit a few million in white elepant assets (cars older than 1915) by the way that will be a struggle for me to deal with the death tax on. I still hope to make more than $250,000/yr someday although that looks increasingly unlikely given that my wife can't stand the moving needed to pursue opportunities to reach that level and the years it will take for our economy to recover from Republican mismanagement not to mention potential Democratic mismanagement. My father and I disagree some on taxing higher incomes, but he also is outraged by excessive CEO pay and corporate shell games having also witnessed them up close and personal.

Regards,
Mark

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