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Discussion and Debate
Discussion and Debate
Politics
American Politics
Taxing the rich to help poor is theft
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<blockquote data-quote="Fantine" data-source="post: 74383275" data-attributes="member: 114159"><p>Both rich and poor are citizens in America, and jointly they decide what laws will be passed regarding to taxation, safety net programs, and more.</p><p></p><p>Before you say, 'No fair. There are a lot more poor people,' you need to remember that because of court decisions like Citizens United, a rich man's influence is hundreds of times more than a poor man's, perhaps thousands of times more. The Koch Brothers gave millions in campaign contributions, and as a reward got billions in tax breaks for the 1%. Isn't that undue influence?</p><p></p><p>The playing field is far from level. Poor people pay a "tax" of sorts in lack of opportunity. On the poor side of our town, there are no banks. On the wealthier side of town, there are banks on every corner, fighting for the people's money. If you have good credit, you get everything at far lower interest rates--mortgages, car loans, credit cards, etc. But it goes further than that. If your credit rating goes down, your auto and home insurance rates go up. If you live in an inner city (or rural area) you won't have as many places to shop, and those located there will charge higher prices. A friend tells me that the Wal-Mart on the poor side of town has higher prices than the other two...If you don't have a credit card (hopefully one you can pay off each month) you can't get things on sale. If your car breaks down you may have to take the bus for months.</p><p></p><p>In the meantime, the people with good credit are getting perks--free flights, free gift cards, etc. We have a Sam's Club Mastercard (the best for rewards) that gives rewards out every February. We have already gotten $418 in rewards so far this year...</p><p></p><p>When Democrats were in power, the Dodd/Frank bill gave consumers protections. The rich (the ones with clout) have taken that away. Why should poorer consumers have protections? Why, some of them may own payday loan companies (or, like Betsy DeVos, collection agencies for students in debt.)</p><p></p><p>When you look at the growth of income inequality, it seems obvious that there isn't a level playing field. It's stacked towards the rich.</p><p></p><p>Do you know that the poor who get earned income tax credits (negative income taxes) get audited by the IRS much more often than wealthy business owners? The IRS has decided they can make more money from the low hanging fruit than by going after the big fish, who have lawyers to protect them.</p></blockquote><p></p>
[QUOTE="Fantine, post: 74383275, member: 114159"] Both rich and poor are citizens in America, and jointly they decide what laws will be passed regarding to taxation, safety net programs, and more. Before you say, 'No fair. There are a lot more poor people,' you need to remember that because of court decisions like Citizens United, a rich man's influence is hundreds of times more than a poor man's, perhaps thousands of times more. The Koch Brothers gave millions in campaign contributions, and as a reward got billions in tax breaks for the 1%. Isn't that undue influence? The playing field is far from level. Poor people pay a "tax" of sorts in lack of opportunity. On the poor side of our town, there are no banks. On the wealthier side of town, there are banks on every corner, fighting for the people's money. If you have good credit, you get everything at far lower interest rates--mortgages, car loans, credit cards, etc. But it goes further than that. If your credit rating goes down, your auto and home insurance rates go up. If you live in an inner city (or rural area) you won't have as many places to shop, and those located there will charge higher prices. A friend tells me that the Wal-Mart on the poor side of town has higher prices than the other two...If you don't have a credit card (hopefully one you can pay off each month) you can't get things on sale. If your car breaks down you may have to take the bus for months. In the meantime, the people with good credit are getting perks--free flights, free gift cards, etc. We have a Sam's Club Mastercard (the best for rewards) that gives rewards out every February. We have already gotten $418 in rewards so far this year... When Democrats were in power, the Dodd/Frank bill gave consumers protections. The rich (the ones with clout) have taken that away. Why should poorer consumers have protections? Why, some of them may own payday loan companies (or, like Betsy DeVos, collection agencies for students in debt.) When you look at the growth of income inequality, it seems obvious that there isn't a level playing field. It's stacked towards the rich. Do you know that the poor who get earned income tax credits (negative income taxes) get audited by the IRS much more often than wealthy business owners? The IRS has decided they can make more money from the low hanging fruit than by going after the big fish, who have lawyers to protect them. [/QUOTE]
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