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#487623 - 06/04/10 01:38 PM
Re: What is the answer to the threats the U.S. fac
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Gay For Pay
Registered: 01/13/07
Posts: 1011
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Quote:
Economy - Americans work harder than just about anyone, and seem to be getting less for it. The mega-rich are controlling a huge portion of money, and not helping out nearly enough. Our biggest problem, really, is the perception that any reasonable solution is "socialism". We must fix the inequity and have the have it alls start paying on a progressive tax schedule.
Income taxes are already paid on a progressive schedule. Rich people are already paying the vast majority of taxes:
Quote:
By 2005, the most recent year data are available, our top 1 percent of filers were paying nearly 40 percent of the federal income tax bill, while those in the 2nd to 5th percentile paid another 20 percent. Every other group saw its share of the tax bill decline, sometimes substantially
Source: Click
That article covers a lotta hyperboleed political claims made by some Democrats...
Someone mentioned what Warren Buffet's been running around saying about it being unfair that labor is taxed at a higher rate than capital gains. I agree with that. However, there's supposedly significant real world data that if you lower capital gains taxes, you increase the revenues brought in by them. Yeah, that's a typical fiscal conservative argument that's controversial. There's just actual real world data to prove this in the one area of capital gains. Supposedly, every president since Carter has lowered capital gains taxes and every time the revenues brought in by them have increased. No doubt there's a minimal number where that stops being true, but we haven't hit it yet.
So yeah, it sounds unfair to tax labor more than you tax capital gains. But, when in practise it works out better, who cares about how it sounds?
I'm summarizing a lot of that from memory. Maybe I'll find a link for that stuff later if people are interested.
The article linked above briefly mentions Buffet and the taxes he pays. But, it does it passingly and insufficiently.
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#487625 - 06/04/10 04:42 PM
Re: What is the answer to the threats the U.S. fac
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Gay For Pay
Registered: 01/13/07
Posts: 1011
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By "stuff" you mean income, right? You don't mean wealth? I did more googling cause I'm interested in this stuff and was trying to figure out what the hell you're talking about: Quote:
The top 20 percent of earners saw their share of pre-tax income rise from 54.8 percent to 55.7 percent, from 2000 to 2006. During that same period, their share of federal income taxes increased from 81.2 percent to 86.3 percent.
Source: Click
I couldn't find anything on the top 1%, but I didn't look that much...
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#487626 - 06/04/10 05:29 PM
Re: What is the answer to the threats the U.S. fac
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Gag Factor Guru
Porn Jesus
Registered: 07/15/05
Posts: 5290
Loc: Dayton
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#487628 - 06/05/10 02:48 PM
Re: What is the answer to the threats the U.S. fac
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Gay For Pay
Registered: 01/13/07
Posts: 1011
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Quote:
http://www.politifact.com/truth-o-meter/statements/2009/oct/01/michael-moore/moore-says-top-1-percent-owns-more-financial-wealt/
http://www.cbpp.org/cms/index.cfm?fa=view&id=2908
That article on Michael Moore is nonsense. It's all pop culture politics.
1.) This measure of "financial wealth" that leaves out how much your house is worth. That skews the numbers just a little bit, considering the typical percentage of their total worth somebody's house in the middle class represents.
2.) We're talking about taxes. Surely you don't want to tax wealth? Usually, it's controversial to tax money twice (even though it's done in a few places). If you tax it when they make it, and every year it sits in the bank, you're gonna have so many rich people bolt the country... Even if you just have a wealth tax of 5%, how long does that tax to cut your net worth in half. Like 12 years I'm guessing without doing the math?
The CBPP article is more interesting.
That thing were the rich are getting so much richer, I wonder if that's a product of how large our corporations have gotten, a trend I'm not crazy about either. But, the answer to that issue isn't taxing the rich. It's to encourage small business which spreads out the wealth more. And, the vast majority of people making $250K (Obama magic campaign number for where it's okay to soak them) are people running small businesses.
And then, you have Toffler's Third Wave. Where the giant institutions we've developed our going to get more manageable and smaller due to technology. That'll help small businesses.
That CBPP article doesn't say the poor are getting poorer. It says they're staying about even, making just a touch more money.
Quote:
Half the fucking country is doing that. How do you think people w/ 40k jobs have 30k in credit card debt?
Yeah, but they're (usually) not racking up that kind of debt in a year and a half like the government would.
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#487629 - 06/09/10 09:03 PM
Re: What is the answer to the threats the U.S. faces ?
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Anonymous
Unregistered
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Quote:
Quote:
Dino,
What is your connection to NoVa? I see you mention it from time to time as somebody who has spent some time there, but you are in FL right? I lived a short drive from that sign for about a year or two.
Spent a short time monitoring inmates at the Districts correctional facility formerly at Lorton. then thought I would get out of there and caught the first auto train out of there.
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#487631 - 07/27/10 04:06 PM
Re: What is the answer to the threats the U.S. fac
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Porn Jesus
Registered: 07/15/09
Posts: 12931
Loc: 3 feet high and rising
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You should all start to become familiar with the cyrillic alphabet now. You will need to be prepared for when the dollar collapses.
_________________________
Thinking of cracked-out and/or tweaking whores getting their throats and asses brutalized for the next hit makes me hard. --Rear Admiral 
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