Re: [MLUG - DISCUSSION] [POLITICS] another cool graph from Krugman

["Vern Green" <EMAIL:PROTECTED>]

On Fri, May 9, 2008 at 4:21 PM, Mike Miller <EMAIL:PROTECTED> wrote:

On Fri, 9 May 2008, Vern Green wrote:

See Mike, that flies in the face of everything you have said on this forum about how much money people are worth. Why is it alright for Edwards to make 3.5 million on the backs of another person's injuries, when it is not alright for a CEO to make 3.5 million when his company is selling goods?

Maybe I am having a bad day, if I am, its because it is so hard for me to concentrate with your inconsistencies blinding me all day long.

Your understanding would be helped greatly by a better memory.  Maybe my ideas are too subtle for you.  I never said that no one should make $3.5 million / year.  I would say that the tax rate should be high at that level and it should increase to 90%, maybe more, after somewhere around $10 million / year.

 

Ok, that makes a lot of sense, tax 10 million in income at 90%, that means I keep a million of it and the rest goes to the government. In that case, I would stop making money at a million and let you tax that at the much lower rate. That will go over really well Mike, for your idea to work, you would have to believe that people that make 10 million per year just have the money flowing in and do not have to actively do anything to make the money. I don't believe that to be true.

The thing that really bothers me is when someone makes $3.7 billion in a single year and pays no more than about 35% in federal income tax (yes, that did happen in 2007).  If his income could be considered capital gains, he would only pay 15% federal income tax on it -- much less than what we pay.  We should seek to limit the power and influence of the super-rich.  They do not have our best interests in mind and they will influence policy to their personal benefit.

ce

Kind of like Edwards eh? We should put in a law that says that you cannot have made more than $1 million dollars in your lifetime in order to run for public office, that would surely limit the power and influence of the super rich.

--
Thanks
F Vernon Green

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