Help Me Smack Down A Rightie

[ChoppinBroccoli]

I'm getting the tired, old, "If we tax the rich for every dime they make, it won't be enough to pay off the deficit" talking point again. Does anyone have the counter-argument that disproves this nonsense handy? I know it exists, I just can't find it anywhere.

[Liberty Belle]

1. It's a good start!

[Angry Dragon]

2. Tell them no one said it had to be done in one year

[Terra Alta]

3. it would put a good dent in the deficit

and over time, might pay it off. We could also end the wars and cut the defense budget in half; that would put a huge dent in the deficit too.

[Fuzz]

4. What is being talked about now is increasing the taxes for the richest from 36 to 39%.

This was the same as it was under Clinton. No one went broke under Clinton, as a matter of fact, Clinton was the first Republican I ever voted for. Plus we ended up with surpluses. So that 3% adds up and well, fuck them.

[rufus dog]

11. and going back to the Clinton tax rate

Does the exact same thing to the deficit as shown in the infamous Ryan chart. Except that the Clinton tax rate is proven and Ryan relies on 2.8% employment.

[some guy]

5. deficit or debt?

your post says deficit. Is that really what the claim is about?

[Incitatus]

6. Bring back the estate tax.

50% on anything over 2 million. That will help.

[calimary]

7. Much blessed, much obligated. Noblesse oblige. Don't they love their country?

Don't you think they should be willing to stand up and come to the aid of their country in her time of need? What about "Country FIRST?" Don't you guys believe in that anymore? That was your party slogan only two-and-a-half years ago. Don't you feel like you should stand up and help your country when everyone else is being asked to sacrifice too (and sacrifice FIRST, before they even get around to including the rich)? Your country. America - you know? The country that allowed you the opportunity and the freedom to become as well-off as you now are? Don't you think you owe her something?

[hfojvt]

8. I have stats from 2005

Total AGI of those with income over $500,000 was $1.38 trillion. For those making over $200,000 it was $2.17 trillion, and for those making over $100,000 it was $3.6 trillion.

Those making over $100,000 were the top 10.7% of all tax filers. Those making over $200,000 were the top 2.7% of all filers, and those making over $500,000 were the top .7% of all filers.

One might note that the Ryan plan does not eliminate the deficit, only reduces it a little over a ten year span.

[Welibs]

9. I hope the wealthy and the corporate know we're coming for them in 2012...

and we intend TO MAKE THEM FAIL!!!

1% or 3.1 million people own 40% of wealth of our entire 310 million population.

The distribution is this;

1% own 42% of American wealth
20% own 51% “ “
80% own 7% “ “

This was the split in 2007.
http://sociology.ucsc.edu/whorulesamerica/power/wealth.html

[SheilaT]

10. Start with no one is suggesting we tax

them for every dime they make.

[Beaverhausen]

12. neither will cutting benefits on seniors, the disabled and the poor

[Hugabear]

13. Donald Trump had a plan that would have paid off the national debt

Of course, this was back in 1999, long before he got caught up in the whole teabagger movement.

http://articles.nydailynews.com/1999-11-10/news/18123679_1_trump-plan-mr-trump-trump-tower

<snip>
And now, from the man who fixed Wollman Rink, erected Trump Tower and created an empire of casinos and beauty pageants: the Trump Plan to wipe out the national debt.

Unveiling the first proposal of his exploratory campaign for President, Donald Trump yesterday called for socking megamillionaires like himself with a one-time federal wealth tax of 14.25%.

The Donald said his plan would unleash a $5.7 trillion windfall that would make America “completely debt-free in the new millennium” while saving Social Security and cutting taxes by $100 billion a year.
<snip>

[Lydia Leftcoast]

14. The Republicanites budget claims to eliminate the defict by 2040

Big whup.

The Progressive Caucus budget, which includes tax increases, eliminates it by 2020.

The right-wing propaganda machine's line contains the unspoken assertion that since taxing the rich won't eliminate the deficit in one year, it's not worth doing.

Which is nonsense.

If you had a massive debt, would you have an easier time paying it off if your income was increased or if your income was reduced?

[proud patriot]

15. better than staving kids and seniors

[Trajan]

16. Well ... right off the bat

Nobody is taxing 'every dime they make' ....

In fact, using Bank of America and GE as examples - They dont pay a fucking dime ....

The problem isnt that they are getting taxed for 'every dime they make' .. The problem is that dont pay enough taxes ....

It is a lie that they are overtaxed .... They are not .. They simply hate to pay ANY taxes .... THAT is 'too much' for them ...