Rangel unveils Dem tax proposal

Posted: Thursday, October 25, 2007 11:34 AM by Mark Murray
Filed Under: Congress

From NBC's Mike Viqueira and Mark Murray
A leading House Democrat has unveiled a long-awaited tax reform package, including a "fix" for the Alternative Minimum Tax that would cost $800 billion over the next 10 years.

To pay for it, Ways and Means Chairman Charlie Rangel (D) proposes that married couples earning more than $200,000 pay a "replacement tax" of 4%, and 4.6% on income in excess of $500,000. Rangel says that the AMT is now affecting 23 million taxpayers.

Rangel would also increase the standard deduction and expand the number of lower-income people who are eligible for the Earned Income Tax Credit. He says that all total, 90 million Americans will get a tax cut if this legislation were to become law.

Rangel says that he will also pay for it by closing loopholes in existing laws. He would limit itemized deductions and personal exemptions for high income individuals, prevent hedge fund managers from using offshore tax havens to defer taxes on compensation, and several other measures.

Republicans are already blasting the proposal, accusing Rangel of "selling snake oil," and calling the 90 million figure "pure hokum." They see the 4% replacement tax as "a crushingly high" tax rate that will affect 10 million people. In fact, Romney just put out a statement criticizing the proposal -- and linking it to Hillary Clinton. "Today, Democrats in Washington, D.C. are unveiling a massive tax increase bill for the American people. Our nation cannot afford the Democrats and a Democrat President like Hillary Clinton who will sign tax increases into law."

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Comments

Take a look at the Fair Tax, folks. www.fairtax.org

For those of us who are considered "wealthy" enough to tax at 32% but working two jobs while barely making ends meet with old cars, a small house in the 'burbs, and children to raise, it's the only plan that makes sense.

Sunny, Atlanta, GA (Sent Thursday, October 25, 2007 2:02 PM)

Hardworking Democratic Woman if you haven't gotten the memo the GOP are effectively anti-american blue collar worker and anti-middle class. That is the result of their policies...even if they don't realize it. They'll get a clue......someday.

CJ (Sent Thursday, October 25, 2007 2:04 PM)

Debbie S you are 100% correct.

CJ (Sent Thursday, October 25, 2007 2:06 PM)

I love watching you middle-class Republican dittoheads going berserk about rich people having to pay their fair share in taxes. You all must be planning to win the lottery soon. How else to explain this "let me eat cake, just leave the poor rich people alone" kneejerk reaction?

And how do you think we're going to pay for this boondoggle war that's hemorrhaging hundreds of billions of dollars? You must think money will rain down from the sky. You don't seem to care how much of our money the government wastes as long as none of it gets into the hands of sick kids or poor people. What fine Americans you are!

J.C. (Sent Thursday, October 25, 2007 2:09 PM)

"Great one democraps - take money from people who actually earn it and give to the slimy idiots that believe they're owed it."

You should really read b/4 you spew such vitriol. Rangel didn't say word one about the tax cuts subsidizing any entitlement program. He specifically said the money was going right back to the ones who paid it. He even, if you read full details of his plan, said that corporate taxes would be reduced from 35% to 30%, so there goes that standard republican antitax excuse.
You should really look before you leap, cause otherwise you sound more foolish than usual.

just the facts (Sent Thursday, October 25, 2007 2:16 PM)

REPUBLICANS CONTROLLED NY FOR THE LAST 12 YEARS THEREFORE IF THERE'S BLAME TO BE HAD FOR OUR HIGH TAXES ITS THEM....

I just love all this NY bashing from a-holes like Jerry...you don't live here, yet you seem qualified to bash it. Yes, the taxes are high. The breaking point is near.

pat huntington ny (Sent Thursday, October 25, 2007 2:20 PM)

Income taxes are evil...do away with them...why would you want taxes levied on your income anyway, talk about a disincentive to produce...tax consumption to encourage savings and voila everyone will have personal charge of their tax bill...now thats fair

Consumption tax only? Do you really think that is going to keep your highways, hospitals, police, firemen, teachers, etc. going? And you can't say "my property tax pays for all that". What about all the people who live in apts?

Everyone hates taxes, but some of us kinds like not having to quit our jobs to teach our kids and not having to take out our own tonsils or set our own broken bones. And if some "horrible, slimy, entitlement getting, handout seeking liberal" tries to break into my house, I kinda like the idea of being able to dial 911. And by 911, I sure don't mean Rudy!

just the facts (Sent Thursday, October 25, 2007 2:21 PM)

Every time I think about voting for a Democrat this piece of trash opens his mouth and reminds me why...

THE DEMOCRATS MUST NEVER HAVE BOTH THE EXECUTIVE BRANCH AND THE JUDICIAL BRANCH.

First he proposes bringing back the draft, now he proposes a tax bill that will kill the people who bring the most to society.

This tax does not just tax the mega rich, it targets people who are professionals and business owners who are responsible for the job growth in this country.

I would call this guy an idiot if he weren't such an evil piece of crap.

John Doe, Seattle, Wash (Sent Thursday, October 25, 2007 2:22 PM)

please don't make taxes the primary issue of this election. that's how bush beat gore in 2000 and look what we got. in 2000 the repub. tax cut plan was 1.3 tril over 10 yrs. gore 550 bil. diff of 750 bill. half that went to top 3% left 375 bill. 37.5 bill a year. population of 270 mill in 97% divided into 37.5 bil divided by 365 days a year = 40 cents a day. so while all these p=eople thought they woukd get big bucks off bush he really gave 97% of us 40 cents. and the deficit soared' social security got screwed, and your other taxesent up not to mention the cost of living and gas.great choice.don't believe any gop rhetoric on taxes do the math.

karlos (Sent Thursday, October 25, 2007 2:24 PM)

Our politicians created the tax problems we have but never take any responsibility for it. While most of us work hard to make enough to get by and worry about retirement these clowns sit around trying to divy up the money we put into their budgets so that they get the best results when elections come up. They don't have to worry about retirement because they've already made sure their pension will make them more comfortable in retirement than most of us are in our peak earnings periods.

Meanwhile they do nothing about the problems we all think are important - social security, border protection, campaign finance reform, health care - the things they promise to fix when they campaign!

They aren't stupid. Politicians in both parties know if they ignore the problems and point at the other party the American public doesn't have the common sense to throw them out and elect someone who will address the issues! They know that even if we do throw them out, their fat pensions will make them comfortable for the rest of their lives anyhow.

Politics is the best "Pyramid Scheme" going!

Craig C, Port St. Lucie, Florida (Sent Thursday, October 25, 2007 2:25 PM)

Nick, Riverside, CA, in the middle ages it was a little more obvious where the Kings money originated. Thanks for reading.

TEC-Spring-Tx. (Sent Thursday, October 25, 2007 2:28 PM)

It shows who the Republicans represent when they sound all the tax-increase alarms over something that is so top-heavy ($500K+) on where it falls. The Bush tax cuts disproportionately benefited those at the very top, and this largely reverses that. The changes that apply to hedge fund managers and others on Wall Street, as well as offshore tax havens, should be especially hard for Republicans to oppose if they're forced to get into specifics (which they really don't like to do).

I applaud the Democrats not only for coming up with a plan, but also for the whole pay-as-you-go concept. It's politically much EASIER to do what Bush and his enablers have done and not say how you're going to pay for anything, but rather just add to the deficit. Anytime you have to raise a tax somewhere or cut a popular program, that move will become a lightning rod for criticism. But doing it that way shows that there's no free lunch and we're not going to keep adding to future generations' burden or become servile to China or Japan.

Rusty C, Alpharetta, GA (Sent Thursday, October 25, 2007 2:28 PM)

From looking at the taxes in New York, I can understand why nobody wants to live in New York.

Then why are there 8 million people in NYC alone?

just asking (Sent Thursday, October 25, 2007 2:29 PM)

We Republicans have been complaining for years that a fix/reform was needed for AMT.

Republicans have held Congress for most of the last 13 years. Not to mention the last 6 of holding power in the entire govt!

They couldn't get this done before because.......?

just asking (Sent Thursday, October 25, 2007 2:31 PM)

If a single mother (doctor, lawyer, etc). is making 200,000 a year or more, will the 4% increase apply to her? Or is this just another way of making married people suffer? If everyone would stop bringing kids into the world they cant afford, we could eliminate the income tax altogether, instead of giving government more power. I dont care if they where they think the tax money should come-a lot of us want the rich to foot the bill for people, but we are really just given Uncle Sam power to spend the money of hardworking people folks to subsidize the stupidity of a few.

D. Granite City, Illinois (Sent Thursday, October 25, 2007 2:32 PM)

Can we all agree that the current system doesn't work? If we do, something new must be tried.

Nick A., Deerfield, IL (Sent Thursday, October 25, 2007 2:32 PM)

Here's what Romney really means:

"Today, Democrats in Washington, D.C. are unveiling a massive tax increase bill for the WEALTHIEST American people. Our WEALTHY cannot afford the Democrats and a Democrat President like Hillary Clinton who will sign tax increases into law."

Boo hoo.

King George (Sent Thursday, October 25, 2007 2:32 PM)

I just don't understand how a critically-thinking logical person can argue that the numbers mentioned by Dave B. (Top 1% pay nearly 40%, Top 5% pay roughly 60%, and Bottom 50% pay only 3%) are fair, let alone that they should be further skewed towards the bottom 50%. I personally think that the problem is not that the Top 50% of the country pays ONLY 97% of all taxes; rather, it's that the Bottom 50% pay ONLY 3%! How does 97% vs. 3% seem fair? Personally, I dislike sending my money to Washington because I don't think that either of the main parties spends it wisely. The Dems want to change the tax code and shift more of the money to the bottom. The people who don't end up paying ANY taxes don't deserve MORE (or any, in my eyes) money to come back to them in refunds. The concept of refunds implies that you put something into the pot in the first place. I would love to see a Flat Tax system in which everybody pays the same percentage. However, that will never happen, because that would be an astronomical increase for the lower and middle class, and most people seem to think it's fair to burden certain groups of people unproportionately.

Stephen, Dallas, TX (Sent Thursday, October 25, 2007 2:32 PM)

Discussions on taxes sure bring out the morons! How come so many are gomers from the south?

Spot, Mpls, MN (Sent Thursday, October 25, 2007 2:33 PM)

How many of you have ever been employed by a poor person?
Wedge Duncan, Everett, WA

--- My company owner tells me I make more money than he does whenever I ask for a raise. My house is much bigger and nicer than his. He also says he has never been able to take a vacation whenever I ask for one.

nuanced (Sent Thursday, October 25, 2007 2:36 PM)

"First he proposes bringing back the draft, now he proposes a tax bill that will kill the people who bring the most to society. I would call this guy an idiot if he weren't such an evil piece of crap."

Another stone-cold selfish Republican weighs in. How dare someone propose a draft and higher taxes in a time of war! The nerve of that evil piece of crap! Thank God there weren't more of your kind around during WWII. We'd all be speaking German.

J.C. (Sent Thursday, October 25, 2007 2:45 PM)

Why doesn't Romney donate the $9 million he's donated into his own campaign to education and build a couple of schools instead of running a losing campaign?

Brian, Las Vegas (Sent Thursday, October 25, 2007 2:47 PM)

We Gomers in the South will only be laughing if the democrats get their way. Things in blue states will only get worse than they are now, and the money & jobs will move down here.

Dave, Tn (Sent Thursday, October 25, 2007 2:49 PM)

Nick A, Deerfield, IL

I agree. I think we all see that the current tax codes are a mess, and that something needs to be done to correct them. So, even if this proposal by Rep Rangel isn't perfect ( I don't claim to know enough about tax law to make a determination) at least it might start some discussions that could lead to a bill we can all live with. If other members of Congress don't like his plan, they can present their own, conferences can be held and maybe a compromise bill can be worked out. My point is, you have to start somewhere.

Dot, Illinois (Sent Thursday, October 25, 2007 2:54 PM)

The only true fix to the crushing Communist Progressive income tax that the democrats support is the FAIR TAX as proposed in the book by Neal Boortz and Congressman John Linder.America does not need the IRS and wealth envy needs to disappear. America needs to be slashing and burning govt programs so that it won't need as much tax dollars.

Joel- Austell, Ga (Sent Thursday, October 25, 2007 3:03 PM)

I think it's about time for those making the higher incomes to pay their fair share of taxes. The people earning minimum wage need a break in their taxes. Higher income earners complain about their taxes being too high. When's the last time they tried to get Congress to make the minimum wage a liveable wage? Then, a flat tax might be fair to all.

VVade, Dalhart, Texas (Sent Thursday, October 25, 2007 3:03 PM)

Jon Montgomery (Sent Thursday, October 25, 2007 3:05 PM)

How is a consumption tax supposed to work? I clear solid six figures, but live in a neighborhood where I'd estimate the average income is around $40-$50K per year. (Yes, I put a lot away...) Anyway, we all pay the same for a gallon of gas. We all pay the same for a pound of hamburger; or a loaf of bread. We all have similar cars and lawnmowers and SUV's that never leave the pavement. We are all about level in the consumption department. But the idea is to tax us all the same?
I guess I should support that, right?
It's not the current tax law that causes problems, it's the current tax loopholes.

William, Litchfield Park, AZ (Sent Thursday, October 25, 2007 3:15 PM)

I am not sure if i like this democratic proposal on tax. Republican are not better either. Party of War! War! War! The main reason i don't trust Republican with my money is "War". They will spend every of our last dollar on military industrial complex and they don't understand anything called public good.

I hope Democrats stick with efficiency rather than tax hike every time.

Bee (Sent Thursday, October 25, 2007 3:20 PM)

So many readers have been liberally brainwashed that it is almost hopeless, but all citizens need to learn that government is never your friend. National government does only two things well: wage war and levy taxes. Remember that government produces NOTHING except red tape. Every dollar paid in taxes is a drain on our economy. Our efforts should be directed toward putting that money into the open economy where it pays sellers, transporters, producers, advertising media and sundry other middlemen, all of whom pay taxes on their incomes. Smaller government creates greater prosperity. Live with it!

Bill Morgan, Branson, Missouri (Sent Thursday, October 25, 2007 3:25 PM)

Why should I pay $80,000.00 (using u2s #s) + aprox $25,000.00 ss and medi? How can anyone think this is right? Im not rich!! How is it the Dems think someone making $84,000.00 a year cant afford health insurance, but someone making $200,000.00 should pay over $100,000.00 in fed taxs? Get real!!

Greg Okc (Sent Thursday, October 25, 2007 3:26 PM)

This tax proposal is the same-old song-and-dance! Gee, we'll pay for the tax cuts by taxing the rich and corporations? Great! Except where do you think those corporations are going to recoup their losses? That's right, an increase in the products we buy, which will only hurt the middle and lower class worse than the upperclass. Be careful of any proposal that claims it will tax someone other than you. It's just a bunch of hogwash.

The Fairtax plan (www.fairtax.org) is by far the best tax proposal out there, and has over 65 co-sponsors in the House. And by the way, it is NOT a VAT (Value Added Tax), but a tax on the final sale of new items, basically a sales tax. I would much rather choose when I pay taxes based on my spending habits as opposed to how much I work. And the impact on the poor of such a system? None, not with the prebate that the proposal includes. You're basically paid in advance for all your taxes up to the poverty level before you're paying taxes to the government. There's so much more to it, but this is not the forum for it. Go to their website and see for yourself.

Eric Morgan, Orlando FL (Sent Thursday, October 25, 2007 3:27 PM)

When we occupied Iraq, the U.S. set up a flat 15% tax for the Iraqis.
When the Soviet Union fell, the U.S. sent tax advisers to assist the Russians in setting up an income tax system.. They looked at the American tax system and said "no thanks".
The American people are the most gullible people on the planet. They constantly enact laws not in their best interests. Throw all the bums out!

GAB, Austin,TX (Sent Thursday, October 25, 2007 3:36 PM)

Oddly, this bill is perhaps hardest on poor people. I can't see that a $425 increase in the standard deduction and an increase in childless EITC eligibility would do nearly as much for them as Bush's 10% bottom rate and increase in the child credit.

Norbert (Sent Thursday, October 25, 2007 3:44 PM)

The fair tax just needs a few more co-sponcers,
call or write your reps. tell them you would like
them to co-sponcer bill HR 25 or bill S 1025,
Congressman John Linder is the sponcer on this bill
and he has 65 co-sponcers, I called and wrote my
congressman (Baron Hill D-Ind) and he said he was not
for it, his replacement might be. Every one would pay the same tax rate, if you buy alot then you pay
alot, if you don't buy much then you don't pay much,
drug dealers, prostitutes, and yes even Mexicans would all pay the same. if Washington was really worried about the middle class, the fair tax would do the job. Call your Rep. now and see how much he
wants to help the middle class.

Lester, North Vernon, Indiana (Sent Thursday, October 25, 2007 3:55 PM)

So many dittoheads have been brainwashed that it is almost hopeless, but all citizens need to learn that Republican governments are never your friend. All they do well is line the pockets of big corporations and the super-wealthy with your tax dollars and bankrupt the country to pay for a foolish war. Live with it! No wonder you think government sucks. The people you vote for are always doing their best to destroy it.

J.C. (Sent Thursday, October 25, 2007 3:56 PM)

The tax code is so complex, I don't think either party can come up with a plan that's truly fair. Besides, they're all so wrapped up in trying to fool the public into thinking the other party's out to rip us off that nobody can have a rational, objective discussion. The whole thing's too dirtied by politics. I'm sick of it all and sick of the politicians. I'm moving to Saudi Arabia. They don't have income tax there.

Barry U. Headinsand (Sent Thursday, October 25, 2007 3:59 PM)

Taxs can only come from three sources: accumulated wealth in its various forms: tax on sales of goods, and tax income. To get the money needed you must go where the money is. Hence the old saw about why it is banks that get robbed; THAT'S WHERE THE MONEY IS!
So, if you are one of those with money, expect to pay taxes according to the needs of the country that enabled you to inherit or earn that money. Bless the system that allows you to have so much when many others have so littel. Do not envy or scold those who have been forced to rely on the generosity of the government when they were stricken with some variety of disability. Most of them cannot work, or they would be working. Just be grateful you weren't stricken with some imforseeable disaster which prevents you from being in the work force. Quit judging those less fortunate and be grateful for your own good, but undeserved, good fortune. Fortune is blind and no one 'deserves' good or bad fortune it just is what it is. So pay your taxes and be glad you can pay. What a privilege!

Jane Roe, in bleeding Kansas (Sent Thursday, October 25, 2007 4:08 PM)

Then why are there 8 million people in NYC alone?

just asking

[[[[[

They can't afford to leave. Too many tolls on the bridges and tunnels that egress from the city.

just telling (Sent Thursday, October 25, 2007 4:10 PM)

I say income tax the rich until it hurts -- they wouldn't be rich if they actually had to work for their money, paid their employees a decent percentage of what they generate, or had not raped the public by overpricing their goods (gas/oil and etc)!!!!

Jon Montgomery

I've been saying the same thing for what seems like centuries now. Be ready though, it takes a while before it starts to work well.

K.Marx (Sent Thursday, October 25, 2007 4:14 PM)

Everyone knows that we need money to run the country. The first question is how much money and for what. The second question is how to generate the money needed. The more money the government has the more it will spend. We need to maintain critical needs funding but not be wasteful. You can get a 50 inch plasma TV or a 27 inch tube tv and see the same thing. I think any tax revision proposal should be thoroughly evaluated for both short term and long term reprocusions. All taxes roll downhill in one way or another. Just taxing the wealthiest Americans more won't help, the cost will just get added into everyones cost of goods and services.

Christi Travis, Jacksonville, FL (Sent Thursday, October 25, 2007 4:41 PM)

The Fairtax would be the most benefical tax code for the middle class. And it would still allow those in poverty to pay no taxes. It would also eliminate 80% of the corporate lobbyists who run this country. The sole purpose for their lobbying is for special tax treatment to be implemented into the code. The FairTax would also stop drug dealers and pimps from avoiding taxes...because all of their purchases would be taxed. In addition, the $2trillion that is warehoused offshore by the wealthy and corporations would come back to the US and be invested here, because it would no longer be subject to capital gains taxes. Think what $2trillion would do to boost our economy?

A study last year showed that when you call the IRS for information/advice, you're given the wrong answer 25% of the time...yet we're still responsible to get it right on our end. Money magazine did a study amongst 45 of the top tax preparers in the country. They were given a hypothetical family's situation and instructed to prepare the taxes. There were 45 different figures on what the family owed. Some differing by thousands of dollars, some indicating a return, some indicating that they owed money. NO ONE fully understands this complex tax code. And confusion is a form of power being used by our legislators, while lobbyists line their pockets.

The FairTax would eliminate these concerns. Would it be perfect? Heck no...but it would be infinitely better than what we have now, or any of the other alternatives.

Jim, St. Louis, MO (Sent Thursday, October 25, 2007 4:46 PM)

At least NY bridges and tunnels are still standing.
My public schools have added on tutoring programs before and after school and weekends and holidays, if necessary. Every individual student in my children's middle school has the use of a laptop for learning and homework. The school also offers on premises, supervised dance lessons and drama clubs. The children have a media class in a real tv/radio station that broadcasts on cable. For all this, NYC has also issued property tax rebates to every homeowner each year for the last 4-5 years.
How about your state?

just asking (Sent Thursday, October 25, 2007 4:48 PM)

My tax plan is simple. If you have it, I want it.

Chas Rangle, NY (Sent Thursday, October 25, 2007 4:50 PM)

Rangel is a moron so tell us something we don't know.

TC n AZ (Sent Thursday, October 25, 2007 5:22 PM)

In 46 of the past 50 years, the tax REVENUES have been within 1 point of 17% of GDP - regardless of the marginal tax rates. Revenues are up big-time thanks to Bush's pro-growth tax cuts. The key to maintaing high revenues is to have tax policy that encourages growth.

Charlie's proposal will hurt the rich, discourage investment and thwart growth, thus reducing tax revenues.

But as usual. Democrats will blame the tax cuts for deficits and not point out the record tax revenues. I'm happy to blame worthless Republicans on the outrageous spending, but it will only get worse if Hillary-care comes into play. Man, think of the problems that anti-growth tax policy coupled with socialized medicine would cause. Yikes!

Jeff W, Edmond, OK (Sent Thursday, October 25, 2007 5:44 PM)

To The Hardworking Democrat Woman,

We appreciate the struggle of the "working class." Yes, I have a lawn service. Back when Bush cut taxes, at the time it gave me an extra $180 or so per month. The additional portion of my own my money that I was able to keep made me decide to get the lawn service.

Raising my taxes because I'm "rich" would probably make me decide to fire the service and do it myself, or make my son do it. This means I'd fire the guy that I pay to do it now.

Why do the working class seem to think that raising taxes on rich people will help them? It won't. It will cost them jobs. Anyone who has a private sector job gets paid by someone who probably is considered rich. Raising taxes and increasing the costs to your employers is not going to do much in the way of getting you a pay increase.

Jeff W, Edmond, OK (Sent Thursday, October 25, 2007 5:53 PM)

jon motgomery you really have no clue. I have been in the same industry for the last 25 years. I now run a company with aprox 30 employees. I have seen mgrs come and go some with a lot of education others with little. What I have seen is that the more pressure you can deal with the more money you will make. When I was a young man I worked in the oil fields of Oklahoma. 100 hour weeks, dirty work, been there done that. What I deal with now is 100% worse. Most people dont want to make the sacrifices it takes to get paid well $300,000.00 +. To be the one to make the tough decisions that affect other peoples lives. No one enjoys it but it has to be done. To know that when you leave work it goes with you. To explain to your kids why you cant be there. I am not complaining but when you tell me that because i am willing to do what it takes you feel that I should give up more, forgive me for not being in agreement. Then I remember that I run a small co. what do the people that run these huge corps carry?

Greg Okc (Sent Thursday, October 25, 2007 6:04 PM)

James in Oak Park;

I know very few Republicans who are against taxes. We all know they are needed, we just don't like the amount we pay and the way so much is wasted. And, we don't like the fact that Democrats would have you believe that raising taxes means increased revenues and lowering taxes reduces revenue. It's been proven time and again that the reverse it true.

By the way, in regards to your FDA example.... If a company put out a product that was not safe, people would become sick and/or die, sue, make millions and put the company out of business. Knowing this, companies would do their own research and testing to do their best to be sure the products they sold were safe, because if they didn't they would fail and their competitors would thrive. Capitalism and free markets would ensure safety and quality in the marketplace. Obviously, we do need the FDA, but your example that companies would put out unsafe products in order to maximize profits is just plain silly. To succeed and thrive, companies must put out safe, quality products that people want and need at competitive prices.

Obviously again, we do need some regulation to keep it fair and protect the consumers, but we need to keep the regulation to a minimum.

Jeff W, Edmond, OK (Sent Thursday, October 25, 2007 6:05 PM)

Hmmm one person works 40 hrs a week or nat at all and makes $3,000,000.00 a year. Another person works 60-80 hrs or more a week and makes $50,000.00.

Even at an 80% income tax the first still has $600,000.00 to live on for working less or not at all (cry me a river). I say income tax the rich until it hurts -- they wouldn't be rich if they actually had to work for their money, paid their employees a decent percentage of what they generate, or had not raped the public by overpricing their goods (gas/oil and etc)!!!!
Jon Montgomery (Sent Thursday, October 25, 2007 3:05 PM)

If they don't like working 80 hours per week for $50,000, they should have paid attention in school.

Why do people think that just because you work in an office or behind a desk, then you're not "working." Most people making big $$ work very hard, and worked very hard to get in the position they are in. The trust-fund babies do exist, but most millionaires earned their money.

Jeff W, Edmond, OK (Sent Thursday, October 25, 2007 6:10 PM)

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