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Old 12-11-2010, 05:40 PM
 
30,911 posts, read 24,271,151 times
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Quote:
Originally Posted by Malkiel View Post
I'm just curious why a lot of people on this forum protect the rich and argues against raising taxes on them. I doubt that anyone who makes more than 250K would post on the this forum. I doubt that even fewer are people making over 1M.

I can understand rich Republicans who want to lower taxes for the rich. I don't understand the poor Republicans. What do they have to gain from lowering taxes for the rich? If you lower taxes for the rich then you're in effect raising taxes for everyone else.
ask yourself who is it that owns the businesses in this country? thats right, the upper middle class and the rich. how many poor people paid you a salary? i would venture to say none. so if the job creators in this country are the upper middle class and the rich, why tax them more? if you take away more of their money, they will not just take it in the shorts, they will lay off employees, move the operations that they can out of the country, raise prices, lower quantities, etc. all to cut costs. and who then takes it in the shorts when that happens? thats right the middle class and the poor as they are the ones having to deal with fewer jobs, and higher prices.

Quote:
Originally Posted by Malkiel View Post
Seriously, if you increase the taxes on the rich then you decrease taxes for everyone else.
are you that deluded? again, if you raise taxes on the rich, you only hurt the lower classes, and you hurt revenues to the government because the tax base in smaller. also understand that the top 10% pay 70% of the taxes collected in this country, so how much more do you want to take from them?

Quote:
Originally Posted by TruthBTold2U View Post
Many here would say the 50s were America's best years, at that time the rich paid at a 90% tax rate. Why shouldn't they help their country at this time of need? Do they need to hoard all the wealth?
yes it is true that the top rate was 91%, but very few ever paid that rate.
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Old 12-11-2010, 05:48 PM
 
Location: Southeast
4,296 posts, read 6,119,730 times
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The top 20% already pay 69% of all federal taxes and 86% of all income taxes, even though they only have a 56% share of income.

How much more disproportionate must this figure be until the anti-wealthy are satisfied?
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Old 12-11-2010, 05:54 PM
 
Location: Land of debt and Corruption
7,526 posts, read 6,970,968 times
Reputation: 2841
Quote:
Originally Posted by TruthBTold2U View Post
Many here would say the 50s were America's best years, at that time the rich paid at a 90% tax rate. Why shouldn't they help their country at this time of need? Do they need to hoard all the wealth?
Their country needs to learn how to live within its means. Simply giving a crack addict more and more crack does not break the addiction, does it?

And who are you to assume to know what the "rich" are or aren't doing with their money? Who says they are hording it? Just because $X amount is paid in taxes to the government, doesn't mean that the rich don't also donate heavily to charitable causes. The rich happen to be the most philanthropic group. Paying taxes is NOT the only way to help out the less fortunate. In fact, it's probably the least effective way to do so.

By the way, the tax rates on the rich may have been higher in the 1950's, but that was on income over $400,000/year. Do you happen to know what that is in today's dollars? Over $3.6M/year. That's a far cry from $250K/year.
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Old 12-11-2010, 06:02 PM
 
Location: New Mexico
8,388 posts, read 8,104,253 times
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Quote:
Originally Posted by roysoldboy View Post
I have been doing what I am accused of here much longer than I have known either of those men you mention. Did you know that I am not allowed to mention one of their names?
Fascinating.
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Old 12-11-2010, 06:07 PM
 
19,122 posts, read 21,393,924 times
Reputation: 7314
Quote:
Originally Posted by Malkiel View Post
I'm just curious why a lot of people on this forum protect the rich and argues against raising taxes on them. I doubt that anyone who makes more than 250K would post on the this forum. I doubt that even fewer are people making over 1M.

I can understand rich Republicans who want to lower taxes for the rich. I don't understand the poor Republicans. What do they have to gain from lowering taxes for the rich? If you lower taxes for the rich then you're in effect raising taxes for everyone else.
I don't make any where near 250K, but I know the rich invest in machines, and other items that will pay them dividends in the long run. The rich don't need to work, but they invest in the work of others, which keeps me in a job.

If you tax what they make too much, they will simply stop investing excess funds they have. They won't be any poorer, but they won't gain, and with no gain they will just stop.

If they stop I am out a job.

They don't tell me how to live, or grab for my Freedoms, like the Democrates make a nasty habit of.

I was hurt on the job, and can no longer get what most people call a job. I do 1099's working at times I choose. No one with a job can do that often.

One of the jobs I have is making 3 different machines that test shoes. With out these machines no one would have any shoes. The rich get these shoes for free and a lot more. Many of these people are athletes. Any time you see a basketball player in any adds showing off his shoes, the shoes they have are theirs for free.

Rich people never buy anything, what they have is all for free. We pay that cost.

I work for another company that makes medical test and lab supplies. If they don't buy and maintain machines I rebuild or build as new, because taxes cut that profit too deeply, medical labs won't get these supplies, because the tooling costs too much, to not earn back dividends.

If I don't earn I won't buy tools, and with out the right tools no machines get made. It is really a pretty simple concept if you ask me.

I doubt the govt wants any machines we make except the Army, which bought machines to test shoes. But the Mil still needs medical supplies.

I will tell you what bugs me is several of the last shoe testing machines we made were shipped to China. I hope they can't duplicate these machines. Note these machines do not make shoes, they test them.

I can't get into how they test them.
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Old 12-11-2010, 06:09 PM
 
Location: Vancouver, BC
547 posts, read 1,368,583 times
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Quote:
Originally Posted by rbohm View Post
ask yourself who is it that owns the businesses in this country? thats right, the upper middle class and the rich. how many poor people paid you a salary? i would venture to say none. so if the job creators in this country are the upper middle class and the rich, why tax them more? if you take away more of their money, they will not just take it in the shorts, they will lay off employees, move the operations that they can out of the country, raise prices, lower quantities, etc. all to cut costs. and who then takes it in the shorts when that happens? thats right the middle class and the poor as they are the ones having to deal with fewer jobs, and higher prices.
Public companies are owned by their shareholders. Their shareholders vary and may not even be Americans. Increasing the tax on its CEO will have no effect on how the company operates.

Please do some research instead of just chanting party lines.
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Old 12-11-2010, 06:18 PM
 
30,911 posts, read 24,271,151 times
Reputation: 17812
Quote:
Originally Posted by Malkiel View Post
Public companies are owned by their shareholders. Their shareholders vary and may not even be Americans. Increasing the tax on its CEO will have no effect on how the company operates.

Please do some research instead of just chanting party lines.
how about YOU do some research. yes companies like ford, microsoft, and other large corporations are owned by the share holders, but it is NOT those businesses that i am referring to. i am referring to the mom and pop stores, the franchise owners, the people who own the small repair shops, in other words the small businesses of the country where the big share holder is the owner, and the next biggest share holder is his wife, and the "corporation" in a private concern. or the sole proprietorships and partnerships that run the small bookstores, antique stores, gas stations, quickie marts, etc. these are the businesses that drive the job creation in this country, and if you raise their taxes, they wont create the jobs.
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Old 12-11-2010, 06:19 PM
 
19,122 posts, read 21,393,924 times
Reputation: 7314
That's about how obama is a low class CEO, who can't cut a profit if his life depended on it. A good CEO has speciall skills that UNITE a company. Kill off the top and you get a mess.

Next town over had a great buis going, but the Board owners sold it out. For a while the same staff did what they always did. Then the new board owners saw to cut costs, and laid off 160 people, and replaced them all with low cost labor and in the last 3 years can't build a stinking machine that works.

Since then that new company has reduced it's floor plan, rented out 2/3rds of the building to other enterprize, and is going down the drain, for lack of a good crew and a decent CEO.

In the next couple years I expect the building will be a flea market.

My company used to deal with that one, but no more. They asked for a 'Quote' and sent a fax with a drawing we made, not knowing it was our drawing, and since then it had been modified.

They wanted us to reproduce the parts for less than a decade old cost. We told em to go pound salt, because no one could possibly know the modified drawing of the parts, and or make it for less than we did ever.

These are for a machine called 'Chillers', and in this day and age in the modern world nuthin of any consequence is made with out chillers.

Last edited by Mac_Muz; 12-11-2010 at 06:27 PM..
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Old 12-11-2010, 06:26 PM
 
Location: Vancouver, BC
547 posts, read 1,368,583 times
Reputation: 508
Quote:
Originally Posted by rbohm View Post
how about YOU do some research. yes companies like ford, microsoft, and other large corporations are owned by the share holders, but it is NOT those businesses that i am referring to. i am referring to the mom and pop stores, the franchise owners, the people who own the small repair shops, in other words the small businesses of the country where the big share holder is the owner, and the next biggest share holder is his wife, and the "corporation" in a private concern. or the sole proprietorships and partnerships that run the small bookstores, antique stores, gas stations, quickie marts, etc. these are the businesses that drive the job creation in this country, and if you raise their taxes, they wont create the jobs.
Those stores rarely make over 250K per year. Very few of them make over $1M per year.

I thought I made it clear that I'm talking about "rich" people not "well-off" people.

INCOME GROUPS IN THE U.S.
Median $25,076
Top 10% $87,334
Top 5% $120,212
Top 1% $277,983
Top 0.5% $397,949
Top 0.1% $1,134,849
Top 0.01% $5,349,795

The Rich-O-Meter - The Wealth Report - WSJ
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Old 12-11-2010, 06:36 PM
 
Location: Northeast
1,377 posts, read 849,704 times
Reputation: 406
Quote:
Originally Posted by whatyousay View Post
Their country needs to learn how to live within its means. Simply giving a crack addict more and more crack does not break the addiction, does it?

And who are you to assume to know what the "rich" are or aren't doing with their money? Who says they are hording it? Just because $X amount is paid in taxes to the government, doesn't mean that the rich don't also donate heavily to charitable causes. The rich happen to be the most philanthropic group. Paying taxes is NOT the only way to help out the less fortunate. In fact, it's probably the least effective way to do so.

By the way, the tax rates on the rich may have been higher in the 1950's, but that was on income over $400,000/year. Do you happen to know what that is in today's dollars? Over $3.6M/year. That's a far cry from $250K/year.
We are in a big whole caused mostly by the wars we wage not because of the poor. The poor is being used as a scape goat. It is easy to blame the poor, they can't hire lawyers to defend themselves. Taxing the higher earners is the only sensible way to start digging out of this mess.

Look at the the CEO's bonuses over the years, even after the bailouts. Then look at wages of the working class. Then tell me where is the money going. It sure isn't trickling down now is it?

250k a year in certain areas of the country is upper middle class not rich.
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