Lux Investing

Libs tend to say the rich have too much money;how much is too much?

And why shouldn't those who invest and earn wisely be able to keep the majority of what they have. If a lib wins 50 million in the lottery,should we take the majority of it because they didn't "earn" it?

Public Comments

1. No one I know says folks have "too much money", but rather, that they should be paying for the priviledges of their success. And yes, windfall profits (including capital gains) should have a higher tax rate than normal wages
2. Correction...liberals can have all the money they want and they are fine with it. The evil conservatives, CEOs, etc. that earn their money are the ones that liberals object to having money.
3. The wealthy should pay for the infratsructure and legal system that allows them to make that money. It's called taxes.
4. you generalization is wrong ! like the oil speculators ? - sure I guess they did in fact earn it didn't they. no, YOU should not get the majority (stupid question)
5. Don't talk about taxes without talking about debt.
6. It is simply no one's business how much money someone has NOR how much "energy" they use. THAT is the American way. Anything else is un-American.
7. no one says they have too much money. I have said that they have more than they need to sustain themselves and should stop being so greedy and help those in developing countries who are starving to death.
8. Funny enough many liberals are filthy rich ... just take a look at the high percentage of TV and movie stars in Hollywood who call themselves liberals ...see them being poor? No huh!
9. Screw the rich. Well, some anyway.
10. A penny more than they have. Socialism is the great 'equalizer'. It makes everyone mediocre.
11. There's no such thing as having too much money, as long as it's come by honestly. What's obscene is using the resources of the nation to ensure one's own wealth, as is the case with the pharmaceutical and petroleum industries gaining by military actions as a result of political influence, companies like Johnson & Johnson using the SHS scam to cover for their own actions, and military-industrial suppliers exerting political influence to keep us at eternal war for profit.
12. being able to be rich is something of the american dream and for those who have acheived it, i dont think they should be penalized. The more money you have, the more money you spend. generally speaking.
13. Many liberals believe that the United States is not a fair and equitable place. They do not believe that the playing field is level and that anyone can achieve great success no matter their economic starting point. When you harbor this belief it is easy to believe that those of means attained their position by taking advantage of the needy. Therefore, if you did not come by your money and position honestly then you are not really entitled to what you have achieved in life. So they feel no guilt whatsoever about liberating it from you to redistribute to those who they feel are more deserving. Liberals will deny this simple truth, but it is evident in every initiative they try to pass and every class warfare statement they make regarding the haves and have nots.
14. I have NO problem with wealth. I do have a problem with greed. I also have a problem when a Conservative whines on y/a about the top one percent paying to much in taxes. Especially when the person whining is probably in the bottom 40%. And it irritates me even further when they throw out a statistic about the top one percent paying 32% of the taxes and they don't follow it up by informing that the top one percent makes at least 32% of the income. By the way, if a Liberal wins $50 million in the lottery and the government takes half, they will be thrilled that they still have 25 million. You see, that is where the greed comes in. Also, it is all God's money. Seems so many Republicans tend to forget that.
15. People that take risks and make money should keep a fair amount of it as earnings. With a fair amount taxed. The problem with liberals is that they want the tax code to apply differently for those that are successful compared to those that fail. For instance; If a person say was to sell drugs in Harlem at a substantial profit, the liberal sees no problems with this income being tax free and should the guy get caught, arrested and jailed, the liberal would free him and give him a welfare check for the rest of his life. But if that same guy was to go to college, invest his earnings in the stock market, then they would punish him with taxing his earnings at 50%, make a law to limit his profits, and then call him an evil crook and banish him to the bowels of society.
16. if they win the lottery they should be federally mandated to give 1/2 to the fed. govt. 1/3 of the remaining to charity. Its the communistic way in a democratic society! lol That reminds me I need to change my name to charity, lol
17. There is a maximum tax liability no matter how much you make, or win. Lib or con. They all keep the majority of the money they earn. People don't always invest wisely or earn their money, some people inherit it and worthiness or risk, has nothing to do with their usually very huge income. No one except certain conservatives here seem to think that libs don't like money, or shouldn't earn money. Cons like to yell at Moore, Gore and Edwards for earning money as if they want all libs to live in a cave. Most of the Hollywood elite they love to complain about also make millions.
18. The payment of taxes is the responsibility of every person who works or recieves income. Simple as that. And people who make more should pay more. Not get tax cuts and myriad tax shelters so that they in essence pay much less of a percentage of their income than the average joe who doesn't get the same cuts and shelters. See, most who are financially savvy think it's cool to be able to say 'I made millions this year and only paid this much tax.' It's a matter of pride to them. But it's wrong.
19. Much of the complaints come from the "limousine liberals" who are rolling in it as well........go figure! Get as rich as you are able as long as you do it with the utmost fairness, and don't trample on honest people. Good Luck to you I say. Bill Gates had an idea and abilities that I will never have, it that HIS Fault? If some power broker is running his employees into the ground for greed., that's another story.
20. Libs don't say that. That's what irrational thinking cons say libs say. Investors do keep a majority of what they make on investments. The Tax rate on capital gains is only 15% - People keep 85%. The highest tax rate on regular income is 35% So people keep 65% of every dollar they make over $350,000 If anyone, liberal or conservative wins $50 million, then they get to keep 32.5 million.
21. If your conservative anything more than take home pay from minimum wage. If your a lib, well, maybe if you had more than George Soros.