Quote:
Originally Posted by golfing eagles
So what???? Is that a reason to punish success?? And in turn give it away to losers????
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Well that's a tad over-generalized.
When the former president who brags about his great wealth, which he estimates at "several billion" is found to have paid $750 in taxes one might wonder about a few things,
1. a billion dollars invested in a 2% CD, (you don't have to be to be a stable genius to find that rate of return in "the world's greatest economy") would generate 40 MILLION dollars. That's ONE billion invested that way. $750 on 40 Million is a tax rate of
.001875%. Now that is a nice tax rate, isn't it?
2. why do we tax income instead of wealth? Because the wealthiest people make the rules, so a father of three, working 60 hours a week who seldom gets to see his kids because his life is evaporating while he's working so hard making 200K,, gets taxed at 40%, while a multi-billionaire who lifts not a finger to make 40MILLION in invested income has a tax rate of .001875%....
Yeah, it's great to be the ones with the power to make the rules.