Thread: what happens to the money from the tax hikes on the upper class? where does it go?

infrastructures? schools? or do the cuts on the other classes cancel it out?

where ever it goes, do you think it is a good idea?

honey, it's costing us more than 10 billion dollars a month to occupy Iraq. there's a big black hole that's sucking all our money out of ALL our pockets.

We are up to our eyes in debt right now. So most of it will be spent paying for all Bush's failed policies.

My answers are:
1) It goes to pay for some of the mess the deregulations that gave a lot of them their money, caused.
2) Pay for a War of Choice, the Wall Street Bail out and. . .
3) Yes
4) Yes
5) No
6) Yes

its actually supposed to be divided out evenly depending on "need". I think its a good theory and I am excited for change.

The national debt is 10.5 trillion. The War in Iraq has racked up a trillion in costs. We just gave Wall Street and the banks 750 billion. It's time to pay for some of this.

It starts by going to the government. This of course is a bad idea. They have already proven they are not good with money. Once they get it, there are administration fees, department fees ( all in the form of payment of wages, overhead, facility maintenance, IT costs etc) that all get incurred in the collection of and redistribution of the tax money. So what is left is typically about 25% of what is collected. This money will then be used to give handouts to the low income folks, those that don't pay any taxes and tax rebates to the middle class. Unfortunately the money they receive will not off set the increase in costs that will be passed along from the corporations due to the tax hike.

The tax increases are just pie in the sky right now, there are 3 branches of Government, and that is just Obama's plans but he can't do it alone. The only people who are looking at paying more, are the 2% of Americans that make more than 250,000 dollars a year. And it will only return them to the tax percentage they paid before Bushes tax handout to the rich. If they do return the tax bracket of that 2% to the pre Bush level, it will go into the same fund as all taxes.

in my pocket

the government will keep about half. half of that will disappear. the rest will be redistributed to the newly unemployed that the upper class had to lay-off when their taxes went up.
it is a brilliant idea for a democratic politition. these new poor will have to vote democratic like the old poor if they expect their government check.