Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (319645)	1/9/2007 11:38:15 AM
From: RetiredNow	Read Replies (2) \| Respond to of 1577883

That's why I focus on income and not on savings. I don't think it's fair to tax people who have saved alot of money. For example, my aunt and uncle were immigrants and now are US citizens. They worked 2-3 jobs for 40 years here in the US and most of the jobs they held were what you and I would consider menial: warehouse jobs, cosmetics, bell-hop. But they saved diligently and now are working their way through $400K in retirement savings as well as their social security checks. Our government shouldn't taxs that savings, because they aren't rich. They are just hard working American immigrants. Now the guy who makes $500K per year but spends $480K may also not be rich, but he should be taxed heavily. First of all, I don't think 99% of Americans would be very sympathetic with a guy who makes that much and can't manage to save anything. Second of all, he represents 1% of Americans earning enough to be plenty rich and as such the taxes he can pay far outstrip what the other 99% of Americans can pay. Like I said before, the increase of 1% in taxes for the top 1% of income earners will generate tax revenues far in excess of increasing taxes by 1% for the other 99%. So a progressive tax makes sense. It's fair to the majority of Americans and it produces the most amount of tax revenue for the least amount of collective pain, while safeguarding the middle class, so that we protect class mobility, which is so essential to a thriving Democracy.