Tax the Rich!

[Pepper]

I think your solution is overkill, Who. Are you saying that everything should be made a felony? What purpose does that serve?

Those who think that more and greater tax cuts are going to fix the economy suffer from the problem that you're describing, Gipper. To think that more and greater tax cuts will put us on a sound economic footing are suffering from mental illness.

Here's a video of Tim Pawlenty trying to make his case for yet more tax cuts for the rich.

http://videocafe.crooksandliars.com/david/chris-wallace-pawlenty-your-economic-plan-wo

The title is Chris Wallace to Tim Pawlenty: Your Economic Plan won't work without tax increases.

Reagan's deregulation of the S & L's created a crisis. Clinton's repeal of Glass-Stegall was the wrong thing to do, IMO.

It's pretty obvious that whatever we do to regulate, someone on Wall Street will try to wiggle around. That doesn't mean that we can just let them run amuk.

The government is about the people. Not about enriching the haves. Good for the general public is going to be good for the economy in the long run. A strong middle class is fantastic for an economy.

Per Krugman, the only time that the economy didn't improve during FDR's tenure is when FDR tried to balance the budget. I know that Amity Shales tries to say otherwise. She's a goof.

 

[pocketfullofshells]

Reagan was a Marxist?

 

[Pepper]

Apparently.

 

[dogtowner]

Right, they aren't rich. But they can pay a 39% top marginal rate.

And every citizen can pay something too. There is somethign wrong when >50% do not pay income tax.

 

[Pepper]

Isn't there something wrong when so many earn so little that they are exempt from income tax? We have a vast wealth disparity in this nation.

Almost every worker contributes in some manner by paying a number of taxes. To single out income taxes is to try to initiate class war.

 

[TruthSeeker]

Isn't there something wrong when so many earn so little that they are exempt from income tax? We have a vast wealth disparity in this nation.

Almost every worker contributes in some manner by paying a number of taxes. To single out income taxes is to try to initiate class war.

When the "rich" pay the majority of the taxes in this country to begin with, isn't expecting them to pay more and more and more promoting "class warfare"?

Characterizing successful people as being "rich" and demonizing successful people by fostering an "us versus them" attitude between different income classes is the ULTIMATE in promoting class warfare.

Don't you understand that reducing taxes allows people to keep more of their money, which in turn allows people to SPEND more of their money and INVEST more of their money?

If you take money away from the people through taxation, you are reducing the spending and saving and investing power of the people. It's the PEOPLE who keep the economy rolling through their spending and investing, NOT the federal government or any other level of government.

Small businesses are the backbone of this country. Not multi-national corporations. Not behemoth manufacturers who are dominated by labor union thugs. Not taxpayer-financed government entities.

Reducing taxes increases government revenues. That is a historic FACT. Paul Krugman is an IDIOT. His economic clap-trap is ridiculously inept, and I don't care what prize he won.

 

[Pepper]

We aren't expecting the rich to pay "more and more". We are expecting the rich to pay less and less.

Characterizing the unemployed as worthless and demonizing public employees and calling union members "thugs" fosters an "us vs. them" attitude is the ULTIMATE is promoting class warfare.

Don't you understand that rich people aren't spending their money, they are hoarding it?

Don't you understand that what creates jobs is DEMAND, not loose capital? As long as we have high unemployment, and as unions are demonized, you are lowering demand.

Reducing taxes does not increase tax revenue.

Virtually every economics Ph.D. who has worked in a prominent role in the Bush Administration acknowledges that the tax cuts enacted during the past six years have not paid for themselves--and were never intended to.

Read more: http://www.time.com/time/magazine/article/0,9171,1692027,00.html#ixzz1P9z0Xv4I


http://www.time.com/time/magazine/article/0,9171,1692027,00.html

 

[GenSeneca]

Don't you understand that rich people aren't spending their money, they are hoarding it?

Where at... in a bank? Do you understand how the fractional reserve banking system works? Whether they spend it or leave that money in the bank, it's still being put back into the economy.

 

[Pepper]

Where at... in a bank? Do you understand how the fractional reserve banking system works? Whether they spend it or leave that money in the bank, it's still being put back into the economy.

Sorry, that is my understanding. Please, I'd like to hear what you have to say. Not that money in the bank is still being put into the economy, I know that-but it is my understanding that companies are not cutting loose and creating jobs, and the excuse is "uncertainty", which is some major bull**** and working the refs, IMO.

 

[GenSeneca]

We have a vast wealth disparity in this nation.

So what? Whether my neighbor has $10 or $100,000,000, makes little difference to me. In fact, I'd rather him have the hundred million.

Almost every worker contributes in some manner by paying a number of taxes.

If we're going to have an income tax system, then everyone should pay an equal % of their income. That's fair. Whether "rich" or "poor", every American gets huge benefits by living in America, everyone should have to pay income taxes, not just the top 50%. Expanding the tax base, getting the bottom 50% to pay their "fair share", is a sure fire way to increase revenue.

 

[Pepper]

So what? Whether my neighbor has $10 or $100,000,000, makes little difference to me. In fact, I'd rather him have the hundred million.



If we're going to have an income tax system, then everyone should pay an equal % of their income. That's fair. Whether "rich" or "poor", every American gets huge benefits by living in America, everyone should have to pay income taxes, not just the top 50%. Expanding the tax base, getting the bottom 50% to pay their "fair share", is a sure fire way to increase revenue.

That's a child's version of fair. Not an adult's version. Surely you see the flaws in this without me pointing them out.

Not only that, the benefits do change based on the locale. Again, surely I don't have to spell this out for you.

 

[GenSeneca]

...it is my understanding that companies are not cutting loose and creating jobs...

Unlike government, companies cannot perpetually operate in the red, they need to make a profit. Companies don't just hire people they don't need. If demand for their service or product justifies additional labor, then they will hire, not before.

I recently helped my company to pick up an account that will increase our sales by $100,000+ a year. If we add enough accounts like this, it will become necessary to hire additional employees but hiring them now, before they are necessary, will only endanger my company's fiscal well being and put the jobs of every employee in jeapordy.

 

[Pepper]

Unlike government, companies cannot perpetually operate in the red, they need to make a profit. Companies don't just hire people they don't need. If demand for their service or product justifies additional labor, then they will hire, not before.

I recently helped my company to pick up an account that will increase our sales by $100,000+ a year. If we add enough accounts like this, it will become necessary to hire additional employees but hiring them now, before they are necessary, will only endanger my company's fiscal well being and put the jobs of every employee in jeapordy.

Well, sure-that's pretty obvious.

Which is why government creates jobs in a downturn, not the private sector.

 

[GenSeneca]

That's a child's version of fair. Not an adult's version.

Fair - marked by impartiality and honesty : free from self-interest, prejudice, or favoritism.​

I guess the "adult's version" of fair is marked by partiality, dishonesty, self-interest, prejudice and favoritism.

 

[GenSeneca]

Well, sure-that's pretty obvious.

Which is why government creates jobs in a downturn, not the private sector.

Then why are you complaining that companies are not "cutting loose and creating jobs"?