Wealth doesn't multiply by dividing it

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Kevin Palmer's July 24 letter about rich people and taxes ("Richest people should pay most taxes") just boggles my mind. Rich people do pay more in taxes, considerably more.

Here are the facts: The wealthiest 1 percent pay 37 percent of taxes. The wealthiest 10 percent pay 68 percent of taxes. The wealthiest 25 percent pay 85 percent of taxes. The bottom 50 percent pay only 3 percent of income taxes! That doesn't sound unfair to me.

Additionally, as to the rich being "unfair," how about the fact Bill Gates of Microsoft donates $3 billion a year to various charities and he, as well as 69 other billionaires, have pledged to give half of their fortunes to various charities? Pretty generous.

Costco didn't come to Augusta to "exploit" the work force. They came, as do all profit-seeking corporations, to generate a profit for their stockholders by fulfilling a perceived community need.

Basic Economics 101: Capitalism. That is what American business does. It provides jobs and opportunity for people to become citizens and partake of what this country offers to those who want it -- opportunity!

Everybody starts somewhere, usually at the bottom of the pile. You work yourself up by applying yourself. It's amazing how lucky you can get by hard work and determination.

Someone recently sent me the following, which says much about the mind-set of our country:

- You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.

- What one person receives without working for, another must work for without receiving.

- The government cannot give to anybody anything it does not take from someone else.

- You cannot multiply wealth by dividing it.

- When half of the people get the idea they do not have to work because the other half is going to take care of them, and when the other half gets the idea it does no good to work because somebody else is going to take what they work for, that is the beginning of the end of any nation.

Jack Burke

Aiken, S.C.

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faithson
5525
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faithson 07/30/11 - 12:10 am
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0
blah, blah, blah from a

blah, blah, blah from a republican idealist. The platitudes expressed are getting old. Just because you say it doesn't make it true, it just makes it an observation from a certain point of view. Do we have problems, sure. Do we need to wean or means test those who are on the public dole, sure. But when you start standing up for the wealthy minority in this country who wield a great amount of power, you should make sure you don't belittle those at the other end of the spectrum to make your point. Sure argue 'keeping my money', but to argue 'I' need it more than 'them' and infer a sentiment of 'let them eat cake', you lose all credibility.

DanK
784
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DanK 07/30/11 - 02:32 am
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The endless propaganda

The endless propaganda defending the redistribution of wealth into th hands of the rich and the corporations is disgusting. The rich in this country pay taxes at a far lower rate than the middle class. This was the gift of George Bush, who decided that huge cuts in taxes to the rich would create jobs and build business. Well, we see how that worked out. If the federal government were still collecting taxes on the rich and the corporations at the rate it was before the Bush cuts, we would not be facing this debt crisis right now. How many jobs did it create? MINUS 2.9 million. That's right. Corporations are rolling in money. Profits are through the stratosphere. Corporate executives are pulling down breathtaking incomes. Yet the percentage of their income tax paid is much lower than you and I pay. And in the meanwhile, the middle class and the working poor fall further and further behind the rising cost of living, and pay a much higher percentage of their income to the various levels of government. They are *penalized* for not being rich. And of course, now the feds want to make it worse. The middle class has been paying into Social Security all their lives, and now that it is time to retire and begin drawing the return of their investment, the feds (with the support of the rich) want to reduce the payout. It's a sad plight, and completely avoidable. The corporations and the rich should not get a free ride. They should pay taxes at the same rate as the rest of us. If they had been paying taxes the past decade, we wouldn't be in this mess and the people in Washington would not be discussing taking away my retirement benefits, that I've paid for the past 40 years, just because the CEO of GE doesn't want to pay a dime of taxes.

Techfan
6462
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Techfan 07/30/11 - 06:50 am
0
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Another wonderful quote by

Another wonderful quote by Adrian Pierce Rogers:
"I believe slavery is a much maligned institution; if we had slavery today, we would not have this welfare mess."

dege
0
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dege 07/30/11 - 08:01 am
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I own my own consulting

I own my own consulting business, but thanks to regulations, I will not hire anyone. And, thanks to taxes, I will keep it small.
Why should I work harder just for it to be taken away?
Fair tax is the only way.

rmwhitley
5547
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rmwhitley 07/30/11 - 08:58 am
0
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Most at the "lower end of the
Unpublished

Most at the "lower end of the spectrum" placed themselves in a position for failure. Most of the wealthy are quick thinking, decisive people unafraid to act. Cowards make decisions from guvmint positions because they possess "guvmint golden parachutes". It's propitious to "take up the plight of the less fortunate" in public but check your scrolls of those who actually donate to the less fortunate. How much does obama, immelt, geithner, biden, graham. mccain, reid, pelosi, jackson-lee, jackson, sharpton, schumer, bloomberg, sotomaior, kagan, kennedy's, frank, sanders, edwards, kerry, collins, snowe, levin and the rest of those pompous "elite" give from their pockets? The naacp is noted for helping to make the graduation rate for the minority population one of the highest in the world. They give financial aid to every poor, black unwed mother with at least 3 children by the age of 16. "Noted philanthropists".

Techfan
6462
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Techfan 07/30/11 - 09:01 am
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Yep, a 30% increase in the

Yep, a 30% increase in the price of all goods and services is just what this country needs to get back on it's feet.

RogerDavis
11
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RogerDavis 07/30/11 - 09:02 am
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Great letter Mr. Burke. Those

Great letter Mr. Burke. Those who complain about the rich seem to forget that the "poor poor pitiful poor" don't own companies that employ people. They seem to trust the government more than they trust those who risk their own capital to start a business.They seem to think it's "fair" to penalize achievers in order to buy votes from under achievers.
And to those who complain about the "trite" expressions used in Mr. Burk's letter, that does not make them any less true.
I have one more. "A government big enough to give you anything you want is a government big enough to take away everything you have". And they can do it at the point of a gun.
Everyone must understand , government creates nothing. It can only take from those who create and redistribute. The greatest creator of wealth has and will always be capitalism. It creates wealth and opportunity for those willing to work for it. Liberal government takes from wealth creators and gives it to those who will not work. Until this "I want my government check" mentality is changed amongst the more irresponsible,(notice I didn't say less-fortunate) this country will continue the slide into oblivion.

RogerDavis
11
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RogerDavis 07/30/11 - 09:11 am
0
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Techie, do your research. The

Techie, do your research. The Fair Tax REPLACES all other existing taxes.It's not added to the tax we already pay.

billyjones1949
1
Points
billyjones1949 07/30/11 - 09:20 am
0
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Faithson, I do need it more

Faithson, I do need it more than them. I worked for it 7 days a week. Dank, I will take my tax rate and compare it to yours anyday---36% prox. What is yours? Techfan, I do believe the IRS tax would be done away with if the fair tax comes to pass. This would make sure everyone pays who works under the table which I am sure many will not like because the tax is at the point of sale. Bartering would still be a viable option for those wishing to not pay their fair share. But how do you barter with a store that sells clothes, appliances, food and things for everyday living. Everyone gets caught.

Techfan
6462
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Techfan 07/30/11 - 09:35 am
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It replaces the INCOME tax

It replaces the INCOME tax and withholding only. (gas tax is excise tax for example) Prices still go up 30%.

Techfan
6462
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Techfan 07/30/11 - 09:36 am
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Replaces a few others like

Replaces a few others like estate, gift, capital gains. A nice present for the uber wealthy and a disaster for the middle class.

Techfan
6462
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Techfan 07/30/11 - 09:50 am
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As to losing the IRS under

As to losing the IRS under the unFair Tax. From the bill:"There shall be in the Department of the Treasury a Sales Tax Bureau to administer the national sales tax in those States where it is required pursuant to section 404, and to discharge other Federal duties and powers relating to the national sales tax (including those required by sections 402, 403, and 405). The Office of Revenue Allocation shall be within the Sales Tax Bureau." Sales s Tax Bureau vs IRS, A rose by any other name....

shrimp for breakfast
5641
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shrimp for breakfast 07/30/11 - 10:41 am
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Good letter Jack!

Good letter Jack!

RogerDavis
11
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RogerDavis 07/30/11 - 10:58 am
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Prices won't suddenly

Prices won't suddenly increase by thirty percent. Sorry, not buying it. Imbedded taxes will disappear. Everyone pays the same percentage on everything they spend. It'll be somewhere around 23%. not to mention the prebate where every family will be reimbursed the cost of basic necessities,Even drug dealers and illegals will be paying into the system. Studies have shown time and again it's revenue neutral. The ones who aren't gonna like it are the 45% or so of people who right now pay nothing. It also encourages saving and actually having to have a sound financial strategy for your life and in this age of "nanny state" mentalities is sorely needed. One last caveat, The IRS goes away. I feel this is the best way to reform the system. The one we have now is garbage.

copperhead
1035
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copperhead 07/30/11 - 11:03 am
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It would SEEM NONE have

It would SEEM NONE have googled cloward-piven/obama. Sooo sad!

RogerDavis
11
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RogerDavis 07/30/11 - 11:04 am
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RE: debt crisis. The promise

RE: debt crisis. The promise of future spending cuts is a canard that the left (and most Repubs) know will never happen. That's why the Repubs are holding out for a bill that will give them a more far right position to bargain from. When was the last time a Dem ever cut anything (besides defense spending?) Having said that I agree the Repubs of the last administration did a lousy job of running our fiscal situation, but to say the Dems have nothing to do with being broke is ludicrous.

bailmeout4
0
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bailmeout4 07/30/11 - 11:27 am
0
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Student: I hate studying or

Student: I hate studying or working after class
Guidance Counselor: Don't worry, just attempt to take some classes, get a GED, if you find a job great, if not, don't worry, those kids in the AP classes will take care of you in the future.

bailmeout4
0
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bailmeout4 07/30/11 - 11:30 am
0
0
This country needs to get

This country needs to get back into science, math, and manufacturing, instead of a service industry mindset,

SouthernChic
3
Points
SouthernChic 07/30/11 - 12:01 pm
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The wealthy GOPs are not the

The wealthy GOPs are not the only ones who create jobs. Give the lower classes a break, most of them have the brains to create their own jobs.

The GOP for a long time now has been the party of self serving, self caring individuals. They long for the days of Leave it to Beaver, but they sure don't want to pay the percentage that Ward and June Cleaver did. Don't any of them find it ironic that we never had this massive debt until Ronald Reagan became the GOP hero? Can't they see that free market capitalism killed the little guys -the old mom and pop shops-because GOP greed dictates that if you can't keep up, you should be a wage slave doomed to make a crappy salary? Bush II proved that the trickle down wealth theory FAILED. Yet republicans still want to use that defunct protocol.
The saddest part is, there are those who aren't wealthy by any stretch of the imagination, but they vote republican because they have this notion that one day they could reach the top, and they want those same perks as the wealthy republicans when they get there. But these lower classes who are voting republican are voting against their own self interests. They are not going to reach the top with the current GOP mantra in place.
Likewise, back in the 1860s Wealthy slave owners convinced the poor non slave holders that they too could one day own a plantation with many slaves, if they would only fight with them against the "war of northern agression"
We saw how that played out. It never came to pass. We may not be fighting an actual bloody war, but again, the wealthy are again trying to trick the lower classes into thinking that with their policies they can actually make something of themselves. If free market capitalism worked so well, why is our middle class shrinking and our lower classes growing?

allhans
24865
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allhans 07/30/11 - 12:10 pm
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The uber rich doesn't consist

The uber rich doesn't consist of only Republicans, many are Democrats... look it up.

Sure there are greedy people in the world and they belong to both parties. At least the Democrats know more about buying votes, that could be called a form of capitalism. The more they give out as handouts, the longer they get to retain office and the wealthier they get. YEP!

allhans
24865
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allhans 07/30/11 - 12:22 pm
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The 20 Wealthiest Persons and

The 20 Wealthiest Persons and the Party they support...

1 Bill Gates $54 B 55 Medina, WA Microsoft

2 Warren Buffett $45 B 80 Omaha, NE Berkshire Hathaway

3 Larry Ellison $27 B 66 Woodside, CA Oracle

4 Christy Walton & family $24 B 56 Jackson, WY Walmart

5 Charles Koch $21.5 B 75 Wichita, KS Diversified

5 David Koch $21.5 B 70 New York , NY Diversified

7 Jim Walton $20.1 B 63 Bentonville, AR Walmart

8 Alice Walton $20 B 61 Fort Worth, TX Walmart

9 S. Robson Walton $19.7 B 67 Bentonville, AR Walmart

10 Michael Bloomberg $18 B 69 New York , NY Bloomberg

11 Larry Page $15 B 37 Palo Alto, CA Google

11 Sergey Brin $15 B 37 San Francisco, CA Google

13 Sheldon Adelson $14.7 B 77 Las Vegas, NV casinos

14 George Soros $14.2 B 80 Westchester, NY hedge funds

15 Michael Dell $14 B 46 Austin, TX Dell

16 Steve Ballmer $13.1 B 54 Seattle, WA Microsoft

17 Paul Allen $12.7 B 58 Mercer Island, WA Microsoft, investments

18 Jeff Bezos $12.6 B 47 Seattle, WA Amazon

19 Anne Cox Chambers $12.5 B 91 Atlanta, GA Cox Enterprises

20 John Paulson $12.4 B 55 New York, NY hedge funds
Which political party they donated to:
D = Democrat

R= Republican

I= Independent

1. d

2 d

3 d

4 r & d

5 r

5 r

7 r

8 r

9 r

10 d, i, r

11 d

11 none

13 r

14 d

15 r

16 r & d

17 d & r

18 d

19 d

20 d & r

Willow Bailey
20605
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Willow Bailey 07/30/11 - 12:26 pm
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Instead of the same old

Instead of the same old arguments, how about one of the proponents of wealth redistribution explain to the ignorant Republicans just what this process will look like and how it will work through an example. I, along with many others, surely look forward to gaining more knowledge and understanding of this great plan that promises to end all problems and poverty.

SouthernChic
3
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SouthernChic 07/30/11 - 12:26 pm
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0
Allhans-you are correct that

Allhans-you are correct that many uber rich are democrats. And there are also Billionaires like Warren Buffett, who thinks the same way that I and many other people do.
As far as buying votes-don't ignore the fact that republicans do this as well. It's wrong on both sides, but this doesn't detract from the fact that there are a LOT of people who are voting against their own interests.

Willow Bailey
20605
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Willow Bailey 07/30/11 - 01:14 pm
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0
As I thought, no takers.

As I thought, no takers.

willie7
1047
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willie7 07/30/11 - 01:19 pm
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SouthernChic, are you from
Unpublished

SouthernChic, are you from Augusta?
You sound like someone from a more progressive area.
I imagine you read and do research quite often, rather than quote Limbaugh.
Thank God for your voice!!!!!

SouthernChic
3
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SouthernChic 07/30/11 - 01:44 pm
0
0
Willow Bailey, relax a bit,

Willow Bailey, relax a bit, will ya? I'm not sitting behind the computer waiting for replies. And I'm going to be lazy today and go the easy way out, and provide you with a link:
http://robertdfeinman.com/society/wealth_distribution.html

..........................
Hi Willie, nice to meet you. Yep, I was born in good old Augusta, went to high school and college up north, also worked there about 11 years, got a job down here and moved back down south to take care of my Granny. I've been back for several years now, but my Grandmother still insists I've been "Yankee-fied. She must be right. :)

Pu239
284
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Pu239 07/30/11 - 01:48 pm
0
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I'm trying to imagine a more
Unpublished

I'm trying to imagine a more progressive area....Detroit? Cleveland? Minneapolis? Oakland?

Willow Bailey
20605
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Willow Bailey 07/30/11 - 02:00 pm
0
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True wealth redistribution

True wealth redistribution has zero chance of working. What would happen is the wealthy will send their money out of the country and also relocate themselves and their corporations, if necessary. They will not accept punishment for success.

It will succeed though, in growing an already too fat monstrous government into completely breaking the backs of the working class. Government has no money of its own, and when they can't get it from us, they result to printing a worthless rendition of it, which will drive inflation out the roof. Without some real changes that make economical sense, we are on a fast track to socialism. That progressive enough for you?

Both sides of political parties lie for the vote, on that we can all agree. The real question of the day is; is whether there is any hope of electing a candidate who is willing to tell the truth? We have not wanted to face the truth, but it is coming, whether we like it or not. So people, get ready.

seenitB4
97384
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seenitB4 07/30/11 - 02:11 pm
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southernchic.....That link is

southernchic.....That link is complete dribble-dung,IMO

Why don't you share any excess with your neighbors----say if you have 2 tvs--give 1 away----many dresses--give half to friends---a good paycheck- give half to strangers---get back with us after your good deeds.

seenitB4
97384
Points
seenitB4 07/30/11 - 02:13 pm
0
0
I think your granny was

I think your granny was right---yankeefied fosho!

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