Originally Posted by Speed Daemon
A personal income in excess of $250,000 a year is plenty of income, no matter where they live.
I don't see anything that's intrinsically admirable about people giving themselves massive incomes, earned or otherwise. When that money comes at the expense of others, that's not admirable at all.
While nobody is singling out the very wealthy, or villainizing them without just cause, basic arithmetic shows that taking only from the middle class and the poor:
- Will never raise enough revenues to solve the problem;
- Will soon exhaust that revenue source when they go broke.
Common sense dictates that only the people (and corporations) who have far more money than they need to survive can be taxed in ways that actually solve the problem and doesn't "kill the goose that lays golden eggs".
As to admiration I meant for those who are frugal with their money and not simply because of the amount of money they make.
I don't know who is advocating raising taxes only from the middle class or poor, but certainly over the long term rates across the board could be raised to what they were previous to the villainous Bush era tax cuts, right?