This has been a big debate in the debt situation and now with Warren Buffet coming out and saying the rich should be taxed more. Keep in mind he's one of the richest people in the country. Democrats want to close tax loopholes, so rich people and companies pay what they technically should in taxes, and Republicans say no way.
Personally, I think closing tax loopholes is the right thing to do. You have a $75 billion company like Bank of America that hasn't paid taxes, yet have people in the working class who pay 30% in taxes. Does that seem right?
And as for the argument that lower taxes = more growth, that's pretty much false. The past decade, we've had the lowest taxes in a long time, yet a stalling economy outside of the housing bubble. Yet, in the late 1970's - 1980's, taxes were high, yet the economy was booming. At worst case, there doesn't seem to be much of a correlation between taxes and growth.
- Yes, I think they should.64% (7)57% (12)59% (19)Vote
- No, I do not think they should.27% (3)33% (7)31% (10)Vote
- Just want to see results, or other9% (1)10% (2)10% (3)Vote
Most Helpful Girl
Here's my opinion and what is the centralized issue in my mind...You can raise taxes for the rich and make companies accountable for paying their taxes. This DOESN'T resolve the issue at hand of frivolous government spending on things like wars in countries where we don't belong, chartering a goddamn jet so the senator can get home earlier etc. You need to totally revamp the foreign policies we have that are outdated from WWI. In addition, there needs to be accountability for fruitful spending. Until that is done, we will be faced with another deficit or financial crisis.11
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