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FISCAL CLIFF

Who Should Pay Higher Taxes?

John Boehner proposes raising taxes only on those earning $1 million or more

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by Lisa Fine

Staff Writer t

House Speaker John Boehner said today he plans to propose legislation to raise taxes only on incomes of $1 million or more as a back-up plan in case fiscal cliff negotiations fail.

Boehner's "Plan B," already opposed by Democrats, comes as he and President Obama are reportedly moving forward behind the scenes to reach a deal to avoid the fiscal cliff.

Obama offered Monday to set a $400,000 threshold for incomes that would face tax increases, which was a concession from his earlier position. He had previously said he wanted to he threshold at $250,000.

White House Press Secretary Jay Carney said Boehner's back up plan "doesn't ask enough of the very wealthiest in taxes and instead shifts the burden to the middle class and seniors," and cannot pass the Senate.

Via the Los Angeles Times
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Who should pay more taxes as part of the fiscal cliff deal?

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Comments (view in Forum)

  • PuroChorizo361
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    Without taxes you wouldn't have the roads you drive on, schools your kids go to, bridges you cross, Police maintaining order, Your Army/Navy/Airforce/Marines defending your liberty, workers to maintain things you use in every day life etc etc. Now imagine there being no taxes.......
  • jessejaymes
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    Nah you're off base on this one. Without taxes the Bible Belt would still be driving on dirt roads. Wait!! That's not such a bad idea after all. Nevermind.
  • Calfkiller
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    @PuroChorizo361 We are a helluva long ways away from no taxes. A consumption tax would be a much fairer way of taxation. Likewise it would be a good way of punishing the so called rich as the left is so keen on thinking needs to be done.
  • View all 18 replies >
  • stepped_in_it
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    $250,000.....BUT would rather see those fools start taking about real, serious cuts. Cuts in military spending, foreign aid, pork projects (the bridge to no-where).....AND benefits for those pesky, disease carrying bugs called politicians....
  • u
    RobertJHarsh
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    I would agree. BUT ONLY if the top rate were below 30% AND the corporate income tax rate were abolished for any business with a income level of under $10 million. Basically if you're under $10 million, you are basically a small business.
  • u
    mtkopf
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    Until our politicians start worrying about doing their job rather than worrying about keeping their job everything will stay the same.
  • RoyFloyd
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    @RobertJHarsh I'll go with elimination of taxes paid by business based on ONE criterion: the number of people in their employ who work full time, are paid a living wage, and receive full benefits.
  • stepped_in_it
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    @RoyFloyd HMM....trickle down effect. Businesses don't pay taxes, pay more and hire more employees, employees pay more taxes..... that just might work!
  • View all 15 replies >
  • LGRepublican
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    @PuroChorizo361 True trickle down hasn't been tried. Cutting taxes while spending like out of control fools isn't what trickle down was designed to be.
  • harold_lloyd
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    @AceLuby Thank you.
    Trickle down theory supposedly promotes economic growth, and has nothing at all to do with fiscal responsibility.
    The rest of you people need to pay a little more attention, and think a little harder, or we're never going to get out of this mess.
  • View all 13 replies >
  • u
    tomincali
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    the folks who caused this whole mess should be the payer of it all. the average citizen had nothing to do with what gov pushed us into. most every problem we have in the likes of this was created in gov.
  • u
    mtkopf
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    Using your logic the wealthy and all corporations should pay a higher tax rate.
    I mean it was corporate greed that sent all middle class jobs overseas thereby causing us to spend more on unemployment benefits, food stamps etc.
    It was corporate and personal greed that caused the collapse of the housing market in which the govt had to bail out the banking industry and that same greed sent us into a recession in which we had to spend billions to fight our way out.
    The govt didn't create this mess, the corporate and personal free did.
  • u
    tomincali
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    @mtkopf who allows these corporate companies to do it? who chooses to bring in more people and who pushed banks to give loans to those who could never pay for the homes?
  • View all 7 replies >
  • sevenSecrets
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    your still riding this train huh? Number one: most of the wealthiest inherit a large portion to begin with. I inherited nothing and am glad I did have to start from nothing to get to where I am. Number two. But, key word, poverty is a gruesome hole to have to crawl out of. Keep that in mind before you restart blaming the poor. They need jobs, with a clean record and hard work ethic it took everything I had to get jobs...and I had some help too. Point: trickle down economics is a failing concept
  • Jeff_Woehrle
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    @sevenSecrets Funny, but it took liberals thirty years to cripple trickle-down economics with burdensome government regulations, fees and roadblocks.

    That said, democrats have been promising to lift folks out of poverty for decades with ZERO success. Time to have some folks get some skin in the game. When folks get off the parade of letting someone else pay for it, they will have a little more concern about government spending, borrowing and taxation.

    What has failed is liberalism. Our cities are like war zones and a lifetime of poverty (and democrat voting) has failed to show folks a better way. Time to change tactics and stop the growth of the entitlement mentality.
  • o
    woodtick57
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    Whereas i agree with the sentiment about everyone paying in something, your insinuation that it is only democratic voters getting the free ride i way off base and wholly incorrect.
  • u
    AceLuby
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    I think my taxes should go up as part of an overall strategic plan. I'm single, make six figures, and can simply afford it. Anybody in a better situation than me telling you they can't afford higher taxes is lying.
  • LGRepublican
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    @AceLuby Being able to afford and being required to afford are two different things. Just because you can afford it doesn't mean you should be forced to.
  • LGRepublican
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    Actually, if people were going to be honest, they'd admit that their definition of "the rich" would be anyone making more than they do as well.....
  • o
    Sharpshooter
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    @LGRepublican I didn't say "the rich".... I said everyone BUT me. You're right, anyone making more than me would be "the rich" if I were talking about taxing the rich.

    People making more than me should pay more because they make more than me. People making less than me should pay more because they GET more than me.

    The only person who is overtaxed is me because I'm the one making the decision.

    SO.... anyone want to vote for me as a Congressman? I have the tax thing all figured out.
  • View all 8 replies >
  • jessejaymes
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    I owned my own business for 30 years. We operated 9 locations at the time I sold out and retired. I built that business from scratch with a 15,000 dollar investment to start. Under much higher tax rates than today for business. I operated at a 30% profit margin before taxes and did quite well. Taxes are not the problem for business. Greed is.
  • LGRepublican
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    Income tax rates might have been higher, but other taxes have gone WAY up. Property taxes for example as well as various other "fees"....
  • jessejaymes
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    @LGRepublican I live in California. I have paid the highest property taxes of anyone outside of New York City for most my life. this is a fallacy. I sat and thought about what Warren Buffet said about taxes never entering into his business decisions and he is right. When I opened my business I had no idea of what taxes I would be facing. I just dealt with them. And we lived pretty darn well for 20 of those 30 years with a walk away profit of 200,000.00 a year. In the highest overall taxed state in America. That's just utter nonsense that the rich can't get by if they pay the same rate as I did. Just NONSENSE.
  • jessejaymes
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    @LGRepublican you know I can find a web site to say anything I want it to say. I have been to the French Rivera. Several times. Didn't notice any for rent signs on the villas or for sale signs on the Yachts.
  • Calfkiller
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    @LGRepublican tell me about it. Sometimes I think it is a spin off of the idea of 'everyone gets a trophy'. People nowadays seem to think that just because they show up they are entitled to be recognized and compensated for their efforts.
  • u
    Cheenoguy
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    Someone making a million dollars in one year could theoretically live on one years income for the rest of their life if they live simply and are old enough. Fair or not they can weather the storm and history shows it to be good for our country. They are also the ones who have benefitted the most from the our new gilded age.
    Someone making $250,000 a year is doing well but they are far from rich and would be much more affected by a tax hike. They are also much more likely to be a small business owner and in my experience small business owners usually do a better job of creating jobs that actually pay a living wage.
  • u
    Cheenoguy
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    @AceLuby
    My definition;
    A company with under 50 employees that results in a middle class to upper middle class income for the owner.
    That's what I personally think of when I think of a small business.
  • u
    AceLuby
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    @Cheenoguy So, in your opinion, you believe that someone who makes $250k per year from their small business as 'upper middle class'? I'm of course only talking about the 2-3% of small business that would actually fall into this category... but still... you think they are upper middle class?
  • u
    Cheenoguy
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    @AceLuby
    Yes I do. In my mind the middle class starts at $50-$75k depending on the area.$250,000 is the upper tier of the middle class.
    I guess in my head I measure income in a unique way. I think of it in terms of how much it would benefit your life if you won it.$250,000 would get you a house, a car and a good safety net. When I think "wealthy" I think of an income where there are at least some circumstances where I could retire.
    That's just the way I look at it.
  • Dan_Tien
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    People who are making BIG bucks through from the sale of stocks, bonds, precious metals and property could stand to pay more on their profits.

    "The tax rate on long-term gains was reduced in 1997 via the Taxpayer Relief Act of 1997 from 28% to 20% and again in 2003, via the Jobs and Growth Tax Relief Reconciliation Act of 2003, from 20% to 15%(for individuals, whose highest tax bracket is 15% or more), or from 10% to 5% for individuals in the lowest two income tax brackets (whose highest tax bracket is less than 15%). The reduced 15% tax rate on eligible dividends and capital gains, previously scheduled to expire in 2008, was extended through 2010 as a result of the Tax Increase Prevention and Reconciliation Act signed into law by President Bush on May 17, 2006, which also reduced the 5% rate to 0%. Toward the end of 2010, President Obama signed a law extending the reduced rate on eligible dividends until the end of 2012."

    This is where many of the richest Americans who pay little or no income tax at all make their money.
  • u
    IMAQT
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    "Who Should Pay Higher Taxes?" Well logically to pay higher income taxes, one must be required to pay income taxes in the first place. Therefore logically, this question does not pertain to nearly half of this country.
  • o
    woodtick57
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    Why not. Jut because they now pay no income taxes whatsoever, or even less than zero income taxes, does not mean they shouldn't pay more...at least some...
  • 1adam2
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    higher and higher taxes, has never reduced the defict, or reduced government overspending. and you are only deluding, yourselves if you think, any of this idolitry is going to help.
  • artjeb
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    I have a idea BUT with congress we have it will never see light.
    The idea is tax ALL congress people & the prez 55% & no deductions. I doubt they are worth the amount they get now
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