Q&A: Are you opposed to wealth re-distribution in the US?

Question by T C: Are you opposed to wealth re-distribution in the US?
Do you realize that it is too late. Over the last 30 years all of the middle class wealth has been re-distributed to the rich indirectly through financial deregulation and tax breaks.
IceT – To answer your question, the top 10% in the US owns 80% of the financial assets whereas the bottom 90% only owns 20% of the financial assets.
Sean – You are assuming I’m some poor, uneducated slacker when infact I am in the top 10% in the US as far as income goes. Try again.
Lear45 – I am complaining because I care about my country and don’t want to see it get destroyed in the name of greed. I wasn’t always in the top 10% I know what it’s like to have to bust your but every day for peanuts.
Socrates – My response to IceT was meant to imply that it would be fair for the top 10% to pay a higher tax rate since they own a much greater share of the wealth. Sorry if I didn’t make that clear.

Best answer:

Answer by IceT
Yes. If what you are saying is true then please explain the following:

The top 1% pay 39% of all taxes.

The top 25% pay 86% of all taxes.

The top 50% pay 97% of all taxes.

47% pay no taxes.

Add your own answer in the comments!

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14 Responses to Q&A: Are you opposed to wealth re-distribution in the US?

  1. Sciman2k says:

    Depends on what you mean. A civilized society cannot abandon those who for one reason or another are truly unable to support themselves, but it is under not the slightest obligation to provide them more than the necessities of life. To assert, as do some who contribute to these pages, that the government owns everything and has the right to parcel it out equally to everybody seems to me to fly in the face of basic human nature. “From each according to his ability, to each according to his need.” sounds good on paper, but it isn’t practical. Why would a worker bust his chops to meet production if the fellow next to him got the same salary and job security by doing just enough to get by? Add to this that even the most ignorant, complacent worker would eventually notice that the self-proclaimed elite who ran the system were enjoying lifestyles far more comfortable than his own,
    and you can see why the economy of the Soviet Union would eventually have ground to a halt even if Ronald Reagan hadn’t helped it along. As someone wiser than myself once said, “He who is not a socialist at twenty has no heart, but he who is still one at thirty has no brain.”

  2. Socrates says:

    I noticed you haven’t provided any additional details answering IceT’s valid question to you. Why is that?

  3. Lear 45 says:

    If you are in that top 10% then why are you complaining?

  4. Crasht says:

    I support wealth redistribution, over a long period of time. If you look at the wealth disparity between the rich and the middle class and especially the poor and the middle class it is ridiculous. The rich in a stable economy should only hold about 10% of the country’s wealth. Right now 400 people hold as much wealth as the bottom 50% of America, that wealth does need to be “spread around.”

    I’m not suggesting taking it over the course of a few years or anything, but over the long term we need to redistribute the wealth or this country will get in another economic crisis.

    We need to have a progressive tax system that increases depending on the amount of money you make. I’m not suggesting something drastic but right now the Bush tax cuts are going to cost the country $ 800 billion over 10 years. It’s unsustainable, the rich should pay more not less. That’s how it always worked until Regan came along, the first Corporate President who lied to the American people telling them that “Trickle-Down Economics” worked even though most major economists disagree.

  5. Mary Moon says:

    I do not oppose wealth re-distribution-
    but if we all demand to live FREE, ECOLOGICALLY and PROUDLY-
    we get to stop PAYING for housing every month- stop DRIVING to “WORK” for the WRONG projects- stop being TERRIFIED of unemployment-
    start planning communities to ENJOY life in- and stop
    PAYING FOR WARS- we can get out of poverty together,
    out of pollution,
    and out of wage slavery, too.

  6. SuperSoup says:

    People fail to realize why the rich poor gap is increasing. It has nothing to do with politics.

    The rich are getting richer because their population base is growing slower than the consumer population.

    If the number of business owners increases by 1 each year, the number of consumers increases times 2 each year.

  7. Lastname Comma Firstname says:

    The top 1% pay 39% of all taxes.

    The top 25% pay 86% of all taxes.

    The top 50% pay 97% of all taxes.

    47% pay no taxes.

    just do the math on that 39 + 86+ 97 = more than 100%….50 + 25 + 1 + 47 = greater than 100%, someone is using fuzzy math

  8. If Cons are RIGHT, Libs must be WRONG says:

    I am willing to take the difference between what I make and what some liberal loons make if they are willing to dig deep in their pockets and give it to me. Oh wait..they want everyone else except them to give..Libs are loons that are destroying the USA

  9. Sean says:

    The ignorant and unmotivated get poor while the intelligent and determined get wealthy. Do you really think that Mark Zuckerberg STARTED out rich? No. He was a broke college student who was up to his eyeballs in debt until he started Facebook. He found something people wanted, and cashed in. That’s not “wealth re-distribution”, it’s called capitalism. Enjoy it sometime. Take a risk. It can be bad, but it can be great too.

  10. Thankyoumam says:

    If you had gone to school, gotten a job, saved some money, invested, you could be a winner too.

    Instead, you spent Grandma’s inheritance on tatoos, long-neck Busch beer, and a double-wide.

  11. John Doe says:

    I live in a middle class neighborhood and I can tell you you are full of crap.

  12. Greg says:

    I agree.

  13. Bob Rat says:

    Rich guys always win – always. The point is to minimize the damage as much as possible.

  14. rodolfo says:

    Ohhhh….mannn….