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Termyn8or -> RE: How much money does the United States give in foreign aid? (7/26/2011 7:01:40 PM)
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"Its all bullshit. Increase revenues and we can go on arguing about other things " I agree. There are other factors but before I go into that I would like to state that I question the whole premise of foreign aid, that I have much doubt that it should even exist, ESPECIALLY on a continual basis. But on to the revenue problem. One of the problems is the dwindling middle class. When the middle class comprised a good half of the population, you could raise taxes on each by say, a hundred bucks. All of them paying adds up to alot of drops in the bucket. It doesn't kill them either, though they may bitch about it. But today there are so many people living on so little that they pay little or no income tax, and in alot of cases due to the earned income credit, get back more than they paid in. Even without that, there is that personal exemption, which shields many low wage earners from what would be, to them, a heavy tax burden. Now of what's left of the middle class, those who make 100K a year want the MFs who make 200K a year to pay through the nose. Those who make 200K a year want the MFs who make 300K pay through the nose. And so forth of course. Even at that, their numbers in relative economic class continue to dwindle. So then we must tax the rich. Well for those who have not been watching, no matter what the average income is in this country, the distribution has changed drastically in the last few decades, with more and more wealth coming into the hands of fewer people. I see this as typical aging of this particular type of a capitalist society. As such, if you stick a big tax on the upper crust, let's say a million dollars more a year on each of them, it doesn't pay much because there simply aren't enough of them. To increase one year's taxes by a million dollars, they would have to have incomes in the billions. Let's see we have Bill Gates of course who I think should have a special triple tax rate, but how much does he really make ? OK, tax him, I bet he wouldn't even care much. But where are the rest ? Increase taxes by a milliion a year on whom ? Say a thousand people ? There's a billion. Again, the foreign aid expentitures are how much ? A drop in the bucket. And those taxes would be but a drop in that bucket. I am not saying not to do it, I am just saying that it will not really fix the problem. T^T
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