Here's why the rich should pay higher taxes because they benefit more from Taxpayer Funded Protections & Projects more than any other group from:
US Military, Nations Infrastructure, Police, Firemen, National Guard,
Coast Guard, TSA, FBI, CIA, Education, Bailouts, Federal Loans
for their Corporations, Tax Cut loopholes
(See details after the jump)
Here's why the rich won't leave the USA if they are required to pay higher taxes:
The ultra-wealthy, Top 1 & 2% know that all countries -
except 3rd World Countries - have higher tax rates than the USA.
Plus, the Top 1% know that there is NO COUNTRY in this world
whose "Taxpayer Funded Protections & Projects" will protect
the Top 1% assets: homes, yachts, corporations, money & treasures
- as well as the United States.
That is why they never left the USA when taxes were higher than they are now and why they won't leave if they have to start paying higher taxes again.
You see, they will NOT risk moving their beloved assets to a country where the police and/or government might just come in and seize their property. Not to mention, they love the way US Taxpayer's allows them to keep up their luxurious lifestyle.
I mean seriously, does anyone really think that Palin, Beck, Hannity, Rush Limballs or any other Millionaire/Billionaire would seriously move to ... say ... Yemen or Syria just to avoid paying higher tax rate in the USA? Seriously?
Fact is, the ultra-wealthy do, in fact, benefit more from Taxpayer Funded Programs than any other group.
Here is WHY the Top 1% SHOULD pay MORE IN TAXES -
1) Military:
Defending the country benefits everyone; but it benefits the rich more, because they have MORE PROPERTY to defend.
-Same principle as insurance: if you have a bigger, more valuable house, you pay more to insure it.
2) Nation's infrastructure:
Federal roads & bridge, airports, Port Authority, Coast Guard, National Guard: benefit interstate commerce and people who can travel, not ghetto dwellers.
- The MORE business you own the MORE YOU benefit from Nation's Infrastructure.
- Look how much BP has been using our Coast Guard & National Guard.
3) Energy:
Energy is used disproportionately by the rich and industry; therefore, they should pay more in taxes
4) Public education:
Their companies that benefit from a well-educated public.
(If you don't think that's a benefit, go start up an engineering firm, or even a factory in a 3rd world country with an uneducated CEO)
5) Over $92 Billion Taxpayer Cash/Subsidies Yearly:
Large US and Foreign Corporations that are posting Historic Record Profits Quarterly and, at the very same time, shipping US jobs to overseas sweatshops receive over $92 Billion of Taxpayer money in CASH/SUBSIDIES Yearly.
- If: Corps want over $92Billion Yearly Tax Cash/Subsidies
Then: Corps should "pool" their OWN MONEY (not Worker's money)
and divvy up (divide) their pooled money among themselves
annually.
Not to mention, Corp Bosses who get $92 Billion Yearly Tax Cash/Subsidies should be forced to hire US Workers & stop being rewarded for shipping US jobs to overseas sweatshops.
9) Bailouts
The Bailout obviously benefits investors and large depositors. Rich people SHOULD have their taxes raised so THEY and THEY ALONE pay for the 2008: $700 Billion dollar bailout.
Remember the 2008 Bailouts began in March 2008 -without Congressional approval - when "W" & Cheney decided to give $30 Billion Taxpayer Dollars to J.P. Morgan so they could buy Bear Stern (how sweet)
So you see, Top 1% & 2% -who are the Corp Bosses - benefit more from our Taxpayer Dollars than any other group.
Since those Corp Bosses are shipping US jobs to overseas sweatshops and in order to keep up the happy, luxurious lifestyle for the Top 1 & 2% the USA clearly has a "Revenue" problem.
Here's a Real mind blower:
March 24, 2011 - Multinational Corporations Lobby Treasury Department & Congress for Massive Tax Holiday that would allow corporations to temporarily skip Tax payments when they bring overseas profits to the U.S.
Ya gotta ask, since these large Corp Bosses already pay very little to no Federal Income Taxes why bother Lobbying the Treasury & Congress for a "Tax Holiday on Profits?"
ANSWER: So Corps can fire their Tax Accountants who they pay Millions to yearly to find Tax Loopholes - which will give Corp Bosses even HIGHER Profits. (in a word: Greed)
In 2010: The US Corporations who post Record Profits paid little to no Federal/State Income tax.
- BANK OF AMERICA: In 2009, Bank of America didn’t pay a single penny in federal income taxes
- BOEING: Despite receiving billions of dollars from the federal government every single year in taxpayer subsidies from the U.S. government, Boeing didn’t “pay a dime of U.S. federal corporate income taxes” between 2008 and 2010
- CITIGROUP: Citigroup’s deferred income taxes for the third quarter of 2010 amounted to a grand total of $0.00 & was able to pay CEO $9.5 Million.
- EXXON-MOBIL: Although Exxon-Mobil paid $15 billion in taxes in 2009, not a penny of those taxes went to the American Treasury.
- GENERAL ELECTRIC: paid nothing to U.S. government.
- WELLS FARGO: Paid NO Federal Income Taxes - yet their CEO made $5.6 Million paid in cash and stock and stock awards of more than $13 million.
Bush had four of the worst Year-to-Year drops since 1940:
2000 - 2001 = $79-Billion
2001 - 2002 = $168-Billion
2007 - 2008 = $119-Billion
2002 - 2003 = $112-Billion
By 2003 Tax Revenues had fallen to $1.665 Trillion, down $360-billion annually.
Total Lost Revenue Under Bush:
2001-2008: $1.050 Trillion LOSS.
Compared to:
Total Increased Revenue Under President Clinton
1993-2000: $2.870 Trillion INCREASE.
The Total Revenue Increase under Clinton is 'why' everyone in the USA were better off economically than they were under the Bush Tax Cuts & now Bush Tax Cut Extension.
Bush Tax Cuts for Top 1% Individual Return generate $0.31 out of every $1.00 CUT
-- that is why tax cuts create a DEFICIT ... we LOSE $0.69 on every dollar CUT
Bush Tax Cut for Corporate Tax Rate generates $0.30 out of every $1.00 CUT
-- that is why tax cuts create a DEFICIT ... we LOSE $0.70 on every Corporate dollar CUT
END CORPORATE WELFARE! The USA cannot afford the Trillions in Revenue Loss