250,000 combined income labels you a "millionaire"
Yes, Especially with Obama in office, if you make more than 100,000 you get slammed hard.
I am a libertarian capitalist, I say no... but I'm sure everyone disagrees with me. We should have a flat tax. I'm not trying to start a political argument though. Socialism only cheapens the strength of our greatest power, which is the freedom to acquire wealth and property and then leave it to our loved ones when we die. Most innovation comes from capitalist society as does the highest standard of living.
The rich are great people, they are innovators and hard workers who created a hell of a country in the US, all of the founders were businessmen and wealthy land owners, they threw off the British King basically for economic and moral freedoms. Without the rich there is no economy, without an economy you will need to start farming your own food and defending your family yourself from vandals. The more strain we put on the rich, the less opportunity there is for the rest of us because the rich provide all the jobs.
I completely understand why you would feel that the rich deserve to keep their money and use it to help their familes, but the thing is is that the government is supposed to work for the common good, do what benifits the majority of the population while the rich are a minority and the lower middle class (aka poor I consider the term middle class to be an overstatement thesedays) are the majority of the population. So the government should be working in their intrest, not in the interest of those already well off.
Yes having large sums of money for family is nice but at a certain point it becomes excessive. Wouldn't you rather have your money going into taxes which would help benifit the public, you included, by providing public services like our roadways, libraries, and education for your children? (If not yours than sombody elses.)
My official stance is that government work how it should work, for the common good, the majority of the public by providing economic conditions in favoring the middle class majority and there for stabalizing the economy and that's what proportional taxation is designed to do.
However, I must admit I do not know the current US tax rates. . . .
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