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Would you like to see a prosperous America, just like the one we had in the 50's and 60's? I sure would. But after doing plenty of research, I have to say the Republican ideology is simply NOT going to achieve this. Ever.
The policies of FDR and his New Deal was what made the U.S. the envy of the world. His policies actually led to a true widespread middle class society, with some poor and rich households here and there. How did he achieve this? He sharply increased taxes on the wealthy. In fact, at one time, the highest tax rate was 91% for the wealthiest earners. Trickle down economics don't work as well as Republicans want you to believe.
I think Obama needs to be more aggressive at taxing the rich, otherwise we are doomed as a nation. I just don't see how we are going to have the tax revenue to pay off the debt and move forward with other projects. Something's gotta give. I mean, even with a 91% tax rate, someone who earns $1 billion a year, such as Warren Buffet, would be left with a whopping $90 million AFTER taxes. Who seriously needs or wants more than that to live happily?
If a Republican is elected, god help us. We can't afford to have anymore tax breaks for the wealthy.
There are winners and losers in everything. You sound like you just want everyone to tie.
In a 2002 interview with Southland Today, Schiff predicted that the economic downturn triggered by the bursting of the dot-com stock market bubble would lead to a bear market likely to last "another 5 to 10 years."[36][37] In November 2002, US stock indexes began a bull market uptrend which held steady for five years,[38] until reversing course in 2008, when they began a decline to less than half of their peak 2008 values,[39] followed in 2009 by the Dow climbing 61% from its low point over the following year.[40] After interviewing Schiff in 2009, journalist and finance author Eric Tyson referenced various Schiff predictions during the 2000s and stated that "On all of these counts, Schiff wasn't just wrong but ended up being hugely wrong."[41]
(...)
Later that week an article appeared in the Wall Street Journal reporting that Schiff's broker-dealer firm, Euro Pacific Capital Inc., "advised its clients to bet that the dollar would weaken significantly and that foreign stocks would outpace their U.S. peers" and that instead, the dollar advanced against most currencies, "magnifying the losses from foreign stocks Mr. Schiff steered his investors into
(...)
The January 2009 Wall Street Journal article discussed the value of Schiff's predictions, and stated how deficiencies "made mincemeat of investors who took his advice in 2008
Wrong on interest rates, both foreign and domestic
It goes on and on, the guy finally made a correct crash prediction and has riding this invincible aura of infallibility ever since, mainly swallowed by people who know him from youtube videos and do very little actual investing.
Why the bleeding heart for rich people around here?
I have posted a few threads about how the rich are NOT paying their fair share and some of the responses here have been amazing! People seem to think that taxes on the rich are a bad idea. In my view this line of thinking is absolutely absurd.
There is so much CLARITY that the rich in this country are paying virtually NO taxes because of loopholes in the tax code. Mitt Romney earned $45 million dollars yet paid 14% tax yet the common bloke making $100,000 is paying a marginal rate of close to 50% (in California with payroll taxes included). This is the biggest injustice there is and it needs to stop. Obama has proposed a 30% minimum tax on $1 million+ earnings and that is an EXTREMELY good start.
I believe most on this forum are part of the 99%, so please explain to me why their heart is bleeding for the likes of Mitt Romney who is getting away scott free without paying his fair share?
Subsidizing the rich has become a cottage industry in this country and it needs to STOP
I have posted a few threads about how the rich are NOT paying their fair share and some of the responses here have been amazing! People seem to think that taxes on the rich are a bad idea. In my view this line of thinking is absolutely absurd.
There is so much CLARITY that the rich in this country are paying virtually NO taxes because of loopholes in the tax code. Mitt Romney earned $45 million dollars yet paid 14% tax yet the common bloke making $100,000 is paying a marginal rate of close to 50% (in California with payroll taxes included). This is the biggest injustice there is and it needs to stop. Obama has proposed a 30% minimum tax on $1 million+ earnings and that is an EXTREMELY good start.
I believe most on this forum are part of the 99%, so please explain to me why their heart is bleeding for the likes of Mitt Romney who is getting away scott free without paying his fair share?
Subsidizing the rich has become a cottage industry in this country and it needs to STOP
It's difficult to tell sometimes when someone is being serious and when they are trolling.
For starters, though, you might try the following:
1. Look up the difference between income and capital gains.
2. Try specifying what "fair share" means. What, specifically, would be "fair"?
3. Note that some people actually do have principles that go beyond self interest. Just because Mitt Romney has more money than I do, doesn't mean I am justified in taking it whether it would be in my short term self interest or not.
4. Related to #3, some people are able to see the long term. The less money the rich have for investment today, the fewer jobs there will be tomorrow.
I don't think there is a bleeding heart for the rich. I think what we have is a sense of unfairness as to what the taxes are being spent on. I keep hearing about people who have never worked a day in their lives and are not even citizens of our country getting close to $2,000 per month from our government.
Then you hear about us paying for the police force of another country; but when someone that has been paying into SS and their employers have been paying into SS for them for years, that is an entitlement and it is taking all the money from our grandchildren.
I have noticed for years that the rich have their accountants and the poor have their welfare, but our middle class has been paying for everybody all of my life. Now those of us that have been paying are at SS age and nobody is paying but our country does not know how to manage money and just keeps spending money we do not have. It has to stop and then we can get more fair tax laws and let the rich start paying their fair share too. That will pay off the debt. The wild spending has to stop.
I have no problem with spending for those that are out of work because they were doing their best and were part of the solution and not the problem until our economy failed. I would be more concerned about them than a policeman in a foreign country.
It is good to furnish charity to others when you have it, but we need to realize that we no longer have the resources because most of our manufacturing has been sent overseas. I have a suggestion. Put a tax on those products coming into our country from those companies that shipped the jobs out. If they want to make money from selling products to our citizens, then they should keep their factories in this country. When they outsource, they should be taxed when they try to send the product back to us. That's where we should be making our tax dollars.
1. Look up the difference between income and capital gains.
I know the difference quite exactly, thank you very much! But INCOME is INCOME, most of us can't earn the bulk of our income through capital gains and some can, it shouldn't matter how our income is earned...
WHY does it matter if one makes income through capital gains or regular income? Why is there even a difference?
This is just a technicality that has been developed to help the rich evade taxes, that's all that it is.
I know the difference quite exactly, thank you very much! But INCOME is INCOME, most of us can't earn the bulk of our income through capital gains and some can, it shouldn't matter how our income is earned...
WHY does it matter if one makes income through capital gains or regular income? Why is there even a difference?
This is just a technicality that has been developed to help the rich evade taxes, that's all that it is.
If we taxed investment income at 50%, you would see a boom in this country on job creation, because then they would be creating business's to make their money instead of relying on Wall Street for their profits.
The policies in this country are all backwards where only the top elite matter
Government - Wall Street - CEO - Shareholders.
Shut down Wall Street and you solve 3/4 of the problem.
Then they will actually have to create jobs and expand business to make thier profits rather than destroying jobs in order to get more money to the shareholders and CEO Bonuses.
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Why the bleeding heart for rich people around here?
