What I really enjoyed about this video is that the millionaire who is complaining about his lower taxes even says he would write a bigger check if he knew that the money wouldn't be wasted. Does he think that the money won't be wasted if the tax rate is higher? That is the problem. I would venture to say that many people across this country would be willing to pay additional taxes if it actually went down to pay the debt. I would do it, to me it would be my contribution to the prosperity for the next generation of Americans. The reason that I fight paying higher taxes is the fact that they waste the money.
Letting tax cuts for the top 2% expire as scheduled would pay down the debt by $700 billion over the next 10 years
Really? The guy in the video even said himself that they waste the money.
During the Great Depression, millionaires had a top marginal tax rate of 68%What they didn't put with their nifty little stats is the fact that when the tax rates were this high, that the rich found ways of hiding major portions of their income so they paid even less taxes than what they would pay with the lower rates.
In 1963, millionaires had a top marginal tax rate of 91%
In 1976, millionaires had a top marginal tax rate of 70%
They also leave these two little facts - There is a website that will allow you to give money to the treasury, and none of these people are being stopped from filling out a 1040EZ and paying 35% on the full amount of income without any additiional write offs.
I, for one, am sick to death of being told that I have to give up more of my money to be considered patriotic. I feel that asking the government to be more responsible with the money that is collected from hard working Americans is the most patriotic thing I can do.