Originally posted by: Bowfinger
Originally posted by: Red Dawn
I'd gladly pay a higher percentage of my income to taxes if it meant I was rich and not poor but that's just me I guess. Never being rich myself I probably have a different perspective on how much I need to live a life of luxury free from want. I guess the rich like the non rich have their worries too, instead of worrying about how they are going to make this months mortgage, pay for the Kids braces et cetera, they worry about which car they are going to drive today or were they are going to go on vacation this month.
To quote John Lennon "They say money can't buy love but what it can buy I can use!"
Hear, hear! I watched a Q&A session Warren Buffet and Bill Gates did at the University of Nebrasksa School of Business. Both agreed the wealthy should pay
more in taxes, simply because it impacts them (the wealthy) least and because they gain the greatest benefit from the extraordinary physical, financial, and educational infrastructure we have. Much of that infrastructure was built and is maintained with tax dollars. Yes, the average person benefits from our roads and schools, but your typical wealthy person, e.g., a CEO or investor, benefits a thousand-fold more due to all the productive workers who are available to make wealth for them.
While lopsided reports like the OP's ignore this, it is the real basis for American prosperity. I think most wealthy recognize this and are content with it. They're smart enough to recognize that 60% of $100M is about $59.9M more than they could make in some third-world tax utopia. The people who rail the most against taxes are the greedy, most of whom are wealthy-wannabe's who "know" they could be wealthy too, if only they didn't pay so much in taxes. They're deluding themselves, but they're useful pawns for the greedy who are wealthy.