Why do many middle‑class Americans oppose higher taxes on billionaires?

Question

Law that doesn't harm the middle class, but neither does 1-3% harm billionaires.

Why do middle class defend rich people? Are they blind or foolish sheep?

Same as NYC is trying to put 2% extra property tax on second or third property which is used as vacation house for rich.

Chazmatazz269 · Accepted Answer

There are a couple of mindsets and there’s some crossover. The indoctrination of capitalism has sunk in. Rich people tell them that taxing the rich is bad. So the dummies think taxing the rich is bad. Others believe the “rags to riches” fairytale that those in power preach. They don’t want to get rich only to have to pay their fair share. So they protect the fat cats. The one reasonable argument is that US capitalism has simply gotten out of hand. We gave the corrupt pricks too much time. Now they have nearly finished grooming third world countries for their escape plan. They can and will leave the US for regions with absolutely no regulations or taxes. Two decades ago that wouldn’t have been possible. The US was the last bastion of all consuming greed. Every other developed nation has laws keeping those companies from doing all the dirty sh*t that the US lets them get away with. There was nowhere else to run. The outsourcing of formerly US jobs was just the fat cats testing the waters. Between India and China alone, they have nearly three BILLION sources of cheap labor and potential new buyers. They don’t need the US at all anymore. They’re just biding their time for the right offers to move their HQs overseas. This is at the heart of Drumpf’s tariffs plan. He sees the writing on the wall. He’s just trying to motivate companies to stay in the US or come back, as well as motivating entrepreneurs and investors to start up new companies stateside.
Lastly and most importantly, taxing the rich is a fairytale. The wealthiest people and companies run this country. Our “elected” officials are paid off and we, the citizens, are merely commodities to them. Provide labor and buy their crap. That’s all they care about and if you don’t play ball, you will be marginalized. The only way to get by in the economy that they have created is to contribute to their growing wealth.

Lliam · Accepted Answer

No idea. I guess, #1 - they can't imagine how much a billion $ actually is,. 2 - they think average citizens would also be taxed at a higher rate. 3 - some deluded right-libertarian types think it's unfair to treat people differently, as if taxing billionaires is a form of class warfare.

Personally, I'm in favor of going back to Eisenhower era progressive income tax rates of over 90%. Estate taxes, too.

OlderAndWiser · Answer

If you own two houses, it won't really harm you if I take one of those houses and turn it into a homeless shelter. . . and it really doesn't matter how hard you worked and saved to buy that second house. . . I'm just taking it. If it's not YOUR house that's being taken, it's "harmless." If it IS your house. . . not quite so harmless.

Most Americans strongly disagree with the socialistic idea of wealth redistribution.

MrOracle · Answer

America already has a very progressive tax system, meaning the wealthy already pay significantly more as a percentage of their income than the middle class does, and the lower class pays nearly zero income tax and many get a "return" for taxes they didn't actually pay, meaning they get free money.

Most people don't have a problem with this (a progressive tax system where the wealthy pay more).

That's not the issue at hand, though. Instead, you have a handful of places run by far-left activists who want to spend FAR beyond their jurisdiction's means and budget - often to give lucrative contracts to supporters or to essentially buy votes by promisingly "free" services that aren't free to provide, and when they quickly run out of money, they all try to go after the wealthy, who are already paying a lot.

And here is what always actually happens: the wealthy people LEAVE, and they take their own tax revenues, and often their entire businesses and all of THOSE tax revenues, and the jurisdiction end up with a much larger deficit than if they had done nothing. But will those leaders admit to making a mistake, or cut spending? Absolutely not. Instead, what ALWAYS follows are plans to increase taxes and fees on the middle class, because SOMEONE has to pay for those programs, and if most of the wealthy have left, who is left with money to tax? Only the middle class. And most can't absorb the increases, and they start to move away too, often selling at a loss just to get away.

This has been tried many times, and it always follows the same progression. Either the leaders are voted out and policies reversed (rare, but it does happen), or that jurisdiction goes into a financial death spiral and becomes Detroit - bankrupt, corrupt, and decayed. Those are the only outcomes.

Taxing the rich sounds simple. But the rich aren't stupid - they are the most mobile and most won't accept a direct attack passively.

Do you have any idea how many jobs have permanently left Seattle, California, and New York City, for places like Florida, Texas, and Tennessee? Hundreds of thousands. And all of those employees are paying taxes to those states instead of the cities and states they left. Want to know what that means for the middle class in those states? Yep, they'll all be paying more if they stay, but many others will leave, and the death spiral continues.

HawkPerception · Answer

When I was younger and had less of an understanding of the economy, I was more liberal and socialist, thinking wealth should be shared among all and that everyone could live that way happily. That's not the case though. More often than not, the truly wealthy are those who contribute most to society, whether they started a great idea or business and generated many jobs for many people. They also give the most to charity because they have the most to give as well. When you tax them harder, it gives them less of an incentive to work or create things, and they'll care less and less. Why should they have to work harder for their money to provide for people who don't work as hard or don't create things, whether it's a business or product?

Elon Musk is the richest of rich, but he created the concept of PayPal, SpaceX, Tesla, Neuralink, and more. What have other people done? They can try to come up with ideas too, but it's hard to come up with even ONE good idea nowadays. He's also contributed hundreds of millions of dollars focusing on renewable energy, space exploration, pediatric research, and STEM education. But he uses the majority of his money on his own projects as most people do in their lives. Why should anyone think they deserve the money he has amassed in his life?

If you want to live in a socialist society, then by all means, there are many countries that run like that. You can live there. But ask the people there if they're happy with that system. You won't find many that are. It's easy to say that we should just tax the shit out of the wealthy when you're poor, because you're more likely to want a free handout.

And let me clarify I'm saying all of this as a broke ass dude.

Snakeyes7 · Answer

1. The higher you raise it, the more likely you are going to get those people to flee the area to a place with lower taxes, even if it means fleeing the country. Once that happens, you will have no choice but to make the poor pay it anyway. This is what is happening to NYC right now.

2. Whether you like them or not, these people create jobs. When you tax them enough and they either flee or go out of business, those jobs will go too.

3. Even if the business they run are able to handle it, costs trickle down and you will have to pay more for their products to make up the difference or they will have to fire their workers or pay them less. Basic accounting and economics stuff.

This is also why raising the minimum wage is a bad idea.

4. The really wealthy people like Bill Gates or Jeff Bezos don't really care because they know the state is just going to give it back either in subsidies or pass laws to make it harder for others to compete, making their lives easier as a result.

ohsheeT · Answer

Middle class doesn't agree to billionaires not paying taxes here is the funny part

Middle class is rated when paying taxes
Middle class is the ones that pay for everything in the goverment..

The government has made it so the middle class can not get ahead one day when the middle class wakes up.. they will stop and let allthe rich politicians who have made all these rules and regulations go fuck themselves and let America stop just as like time stands still let the government figure it out themselves

Because one day the rich they leak are going to be in the same position that the middle class is in the middle class wakes up

MisterWack · Answer

They view a primitive world perhaps, one where others have to be down in the mud so they can be successful, one where competition is more favored than cooperation, living in a past not the present or future.

The strange thing I can’t get behind politically is, Conservatives praise the past so high and mighty but when Progressives want to implement tools that the past gave us or tax the rich at a higher rate that used to be in place in the 1950s they tell us to live in the present. They have no values other than to go wherever their leadership goes. Crazy.

Ill_made_Knight · Answer

US citizens have been propagandized since the time of Ronald Reagan that we should reward the wealthiest and the wealth wil "trickle down" to us and all will be well. That's a lie. Now they try to cry and wail that if we tax them they will leave and take their money with them, and then WHO will create the jobs?
Fact is the rich have bought the laws that allow them to legally bribe lawmakers into further deregulating industry so they can screw you and I to the wall a little tighter.
If you're against taxing the rich you probably ARE rich, OR, you've swallowed the bait hook, line and sinker, and vote against yoursel every trip to the ballot box.

Kelley1 · Answer

Because we oppose taxes and because any tax levied on billionaires will soon be applied to us. That is what they said when they applied an income tax to millionaires in the 1930s. We saw how long that worked before we were paying the income tax.

RavVid · Answer

There a lot of reasons and not just in America.

Trickle down is a big one. Put a tax on wealthy people and sure it might only hurt the wealthy. With inflation it starts catching not so wealthy people and top tax brackets start catching more and more.

It is largely a forlorn hope that just doesn't work. It creates a professional group who a clever and effective in minimizing tax. A gov't can only tax profits and a lot can be done around minimizing profits.

Some idiots complain that large companies pay little tax because they invest in new plant and products.

AviatorTom · Answer

The top 1% already pay 60% of all taxes. The claim they don't pay their fair share is wrong.

The billionaires are the main providers of jobs in the economy, through companies they found and maintain. Tax them more and they will create fewer jobs and opportunities.

They also are the main contributors to charities. Tax them more and they will contribute less, requiring the middle-class to make up the difference.

To put it simply, taxing the wealthy more will, in the long run, increase the burden on the middle class, when a macro view of the economy is made.

FunkyMonkee · Answer

The more you tax them, the more likely they are to move out!! With no revenue coming in from the rich, the next lower class gets to pay all the bills! If they move out, too, the next lower class gets it!! Do YOU wanna be forced to pay ALL the taxes?
Another downside is, if you tax the shit out of the rich and they move out, they take their businesses with them and that kills the job market and we get even MORE homeless people living on the streets!! How nice!! Now, the city looks like a shithole and nobody wants to or CAN live there, anymore and its economy collapses!!!
If you were a millionaire, would YOU want to be forced to pay everybody else's way? How would it make YOU feel if all the money you've made is being taken away from you so the poorer people (quite a few of which DON'T deserve it) can get all kinds of "free" stuff? It's TOUTED as free but, SOMEBODY HAS to pay for it!! Would you want to be that person?

SeekerOfTruth007 · Answer

They already pay too much tax as things stand. 40-something percent federal income tax, plus state tax, plus sales tax, plus any number of other regulations and fees. I know of a man who pays 60% total marginal tax by the time you take federal, state, and local taxes into consideration.

Where does it stop?

If you took Elon Musks's entire net worth and divided it evenly among everyone in the USA, that would be about 2500 per person. Guess what most people would blow it on? Drugs, Alcohol, cigarettes, and Prostitutes and Gambling. It's a fact. You can't reduce poverty by taxing rich people. Most poor people are poor because of their own bad decisions.

NathanDavis · Answer

that's just the trap of consumerism...

when you really think about it... people are stupid and just vote

they vote for representatives who decide for them, in favor of billionaires not in favor of the people... so people don't really oppose it, they just don't have any real choice, lol

convo_king89 · Answer

Probably they assume their taxes will go up as well. I highly doubt any new taxes will clearly say "tax only on those making 1 billion or more". It will be set up with loopholes and exemptions that some of the middle class income will be taxed to get these things passed. Tax code is very complicated. Oddly enough that income from stocks isn't taxed the same rate as income from a job and they use stocks as a collideral to get loans from banks for their extravagant living to avoid the federal tax rate.

molonski2 · Answer

The entire concept of the USA is based on innovation, free Enterprise , creation , and that's why it has worked so incredibly well , particularly when comparing with Europe as a whole , in particular the left wing status of much of it over the years , basket cases like Italy and Greece..

To all of a sudden go against a billionaire for being successful , for creating , is against all that the USA stands for , it's Socialist policy..

Would be extremely destructive.

NewtoTheSouth · Answer

Several reasons:

1. If a state levies the tax, then it could reduce state revenue because the billionaires will leave the state. Gavin Newsom opposes such a policy in California for that reason.

2. Some people believe that raising taxes reduces freedom and they care about everyone's freedom. For some, freedom a valuable concept, like equality or justice.

3. Some people believe that it will have negative economic implications because rich people will have less money to invest. This will lead to less job creation. On average, the American economy creates several million jobs every year. It creates so many jobs, even Mexican citizens find jobs in the USA.

DryGermanGuy · Answer

That’s easily explained: Americans are indoctrinated that everybody can be a founder, business-man, industrialist, in short a  future  billionaire, if they only work hard enough. So why would they want taxes on their  future  billionaire-beings? 🤦‍♂️

OneViewpoint · Answer

Because many lower middle class and blue collar Americans have been brainwashed with propaganda since birth that equates taxes with oppression and billionaires with the pinnacle of success and freedumb. Billionaires are super heroes for morons who are completely blind to the people fucking them over every day of their lives. And that is no accident.

msc545 · Answer

Americans oppose taxes on billionaires because they all secretly believe that they too could become a millionaire or billionaire, which is, of course, absurd. Yet ask Americans, and they'll tell you that next week they're going to be filthy rich.

loveslongnails · Answer

If your definition of "many middle-class Americans" is 21%, then I have to question your definition. Polls of middle-class and all other Americans hover around 70 to 79% in FAVOR of higher taxes on the wealthiest population and corporations.

I can only speculate why the 21% oppose it. Perhaps they think it's unfair, or maybe they think that one day, they'll be part of that group! LOL

Friendlybro79 · Answer

It doesn't make much sense to be honest. I think people parrot what they hear without any real understanding of wherewithal if the things they think they know are true. People are convinced things that will benefit them are bad for them and the ones convincing them of such things are the ones that gain from effectively brainwashing folks.

exitseven · Answer

They know that once th law passes, eventually it will no longer for just billionaires, it will include millionaires and finally will include anyone with a good job.

jamesgoldman · Answer

Because they know the rich will avoid it and they'll end up paying

canamlusciouslad73 · Answer

They're useful idiots for their rich oppressors.

Ariesman81Nshiiit · Answer

Stop demanding that extra money be used for needles and buying voters and no one would have a problem with it.

It's got nothing to do with wanting more money, it's got everything to do with how you wanna spend it.

Pterodon · Answer

Because when you vilify and penalize them for being successful and having an attitude of “that’s my money in your wallet” they’ll smartly move somewhere else laying off many. So where will you get your tax dollars now for all your social programs you promised?

NoDecision · Answer

I have no idea. It makes no sense to me. These people complain about paying high taxes, yet oppose the rich paying their fair share? Let's charge Musk 28%, just like the rest of us pay. But I bet he pays less than me.

browsingthroughthe · Answer

@Kelly6 👀 👁️ Nicholas as an Aussie here and I like an Aussie billionaire in particular @AviatorTom and @abbycado I just tagged you Americans - Nicholas here believes in taxing the rich just like my tax return is due by October 31 spooky spooky 👻🎃

SixFootSexy · Answer

I have a theory. It is because the government could take everything from the billionaires and congress would still be insolvent parasites.

Maybe they should learn how to spend and control a whole heap less?

fishbone77 · Answer

Because 90% of the tax dollars collected are outright stolen, used for scams, or wasted. We don’t have a problem with people not taxed enough.

what gives you the entitlement to something someone else earned?

slatyb · Answer

Indoctrination by the same people who convince them that immigrants are the cause of their economic distress.

DonaldDarko · Answer

A rising tide lifts all boats. Deregulation and tax cuts mean more hiring.

jshm2 · Answer

Because they are stupid enough to think it will be them there, some day, lol.

Bricealan · Answer

@kelly6 People with money have always given me employment, creating jobs.

FenixG45 · Answer

Especially in America, the Poor & Middle Class get screwed. The Rich get richer.

Celticwolf78 · Answer

Because we're tired of them getting away from not paying the proper taxes on their money and they don't care about the little people

wkhan_87 · Answer

Maybe because they understand that america supports terrorists israhell by their taxes..

MrChinaski · Answer

Self-flagellation.

i_am_back · Answer

I never heard about this

Bklynbadboy12 · Answer

I dont tax them cause they got it

AgentG111 · Answer

Economics!

Why do many middle‑class Americans oppose higher taxes on billionaires?

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Why can't American Dummycrats understand that taxing billionaires won't make everyone else wealthy?

Why do many middle‑class Americans oppose higher taxes on billionaires?

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Why can't American Dummycrats understand that taxing billionaires won't make everyone else wealthy?

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