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That's got to hurt - when the media finally gets around to doing their job regarding obama's statements - they find he is not at all honest.
Obama knows this, he's a lawyer. but his angle is to play on the emotions of his followers so he can keep some leverage against the truth. and he's doing a damn good job of the hypnosis thus far. hopefully his bots will wake up and help us stop him before he legislate himself into office as our president forever.
It isnt about millionairs suffering under heavy tax burdens.
it is about what is best for the economy. These millionairs understand that they work hard and are rewarded for it. When these people work hard, many other people have jobs and live nice lives. When these people relize that working hard will not benifit them, they simply wont work as hard.
Guess what that means for the middle class people who depend on these rich people working hard? it aint good.
Go forth and learn the Laffer curve.
This should hit like a brick to the face of the know-nots.
It isnt about millionairs suffering under heavy tax burdens.
it is about what is best for the economy. These millionairs understand that they work hard and are rewarded for it. When these people work hard, many other people have jobs and live nice lives. When these people relize that working hard will not benifit them, they simply wont work as hard.
what a bunch of nonsense.
these people have more money than ever, and unemployment is continuing to rise.
Quote:
Go forth and learn the Laffer curve.
LOL
the laffer curve simply says that at some point, higher tax rates begin to produce less revenue.
he didn't say what point.... as i posted earlier, the range is estimated to be 48 to 76%.
Quote:
*There is an upper bound on productive tax rates—in the sense that higher rates could actually
reduce revenue (an effect made famous by Arthur Laffer and his napkin). A new survey by 11
economists Peter Diamond and Emmanuel Saez estimated that the revenue-maximizing federal
income tax rate was “conservatively” 48 percent assuming the existing tax base and could be as
high as 76 percent if the tax base were much broader. Evidence from other studies also suggests
that current rates are safely below the unproductive level.
Capital Gains: You invest money in some business and it works. The money invested is used to grow the business which positively impacts the economy creating new jobs and wealth for a large number of people. For your effort the Government says "thank you now fork over 15% of your return for your effort". Obama says "15% means these people who have helped the economy and have grown jobs are not paying enough for the effort lets get 30%!"
Dividends: You invest in a corporation that pays part of the profits back to its share holders. These profits are defined as money left over after all expenses and TAXES have been paid. Dividends are double taxation to start with. Obama now wants to double down on double taxation.
Great guy Obama. He likes punishing sucess and rewarding failure.
And you can CLEARLY see which we're getting more of under Obama's admin.
Evidently, there's many here on C-D who wish to continue on down the road to failure.
... and they are just PAPER PROFITS until the securities are actually sold. The sale and profit taking is the taxable event, not the accumlation value.
This is intellectually dishonest. This is like suggesting that rich people suffer because they may have to pay a higher tax rate. Let's say a person made $1 million a year, and they had to pay a ridiculous amount in taxes, say 80%. That would leave them with making $200,000 a year and would still leave them in the top 10% of wage earners in the US and in the top 1% of worldwide earners. Of course, they pay rates nowhere near that amount. These people are not suffering in the least and it's pretty hard to be on their side.
Nobody said or implied that they are suffering or would suffer. We are saying people already pay their fair share, and would even if there is a flat tax, b/c it's based on percentages, not dollar amounts. And while you're not necessarily hurting the rich by taxing them at high rates, you're hurting the economy b/c we need these people to invest in stocks and new businesses. Think about what you're saying, though, why would someone work their butt off to earn a million dollars a year just to have it knocked down to 200k? Makes no sense. Let's not reward hard work, let's punish it, this is how liberals think.
the laffer curve simply says that at some point, higher tax rates begin to produce less revenue.
he didn't say what point.... as i posted earlier, the range is estimated to be 48 to 76%.
Was this theory created during this period when we have so many regs (including Obamacare) and this horrible economy? If not, things might be different based on special circumstances like these.
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