Do you believe that citizens of the United States should have caps on their incomes? Why?

Question

ok, i'm glad lots of people are saying no to this....

with how people have been so willing to put everything in the government's hands lately i was afraid there would be more supporters

Answer 1

what would motivate our brightest people to work harder if they know they arent going to be rewarded for their work?

Answer 2

It would stifle progress, why would anyone bust their a.s.s. if they weren't compensated for it?

Russia tried that to some extent, see where that got them.

Answer 3

NO they should have caps on their heads

Answer 4

No, I don't.  Just whom do you think we can trust to establish the amount of the caps?  Congress, perhaps?  The folks whose motto has always been, "If it ain't broke, we'll break it"?

Answer 5

No.

America was built on the ideals of opportunity, freedom and potential realization.  

Capping opportunity kills incentive--why work your tail off and excel when you'll not be rewarded for it?

Answer 6

No.

Because it's confiscatory taxation.  A 100% marginal tax rate.  It would devestate the economy.

Answer 7

We call that communism!!

This is the U.S. of A.!!!  Free market capitalism is the best path to prosperity!!

Make as much money as you can!! Knock yourself out, we will make more!!

Answer 8

Assume your question is about receipts for labor-----which is not income as defined for-Income tax purposes. No there should never be a cap on any person's labor receipts

Answer 9

Absolutely! The wealthiest 1% hold over 20% of the wealth in this country. Spreading the money around is better for everyone and better for the economy. Only a selfish person would say no.

Answer 10

The governments-Federal, State, County, City- all get enough in their taxation to properly govern without some yo-yo suggesting that a cap be put on income. I do feel that some boards of directors have been paying chief executives too much for the duties they perform. Excess salaries  only add resentment from other producers.

Answer 11

You understand all the big money is now being invested in China, its trickling down to build up their economy

Answer 12

You know, I've thought of this idea before. Say we have an income cap of - oh, 5 million per year. Whatever one would have made over 5 million dollars, could go to the gov't for important programs and to help pay off our national debt.

I mean, who couldn't survive on 5 million dollars a year anyway?

**Love getting a thumbs down for simply writing down a different possiblity!**