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Often on this forum there are calls to markedly increase income taxes on the rich. If we take that interest to the extreme and tax the rich (those making more than $250,000 per year) 100% of thier income (slavery), that would yield 1.3 trillion in federal revenue. Obviously, in the absence of marked spending cuts, that would not be enough revenue to be able to cut our deficits. I am wondering when the citizens of the US will wake up to the fact that milking the rich will never solve thier problems and that spending cuts is the only way to get back on the road of financial stability.
Funny because with the income gap rising, and Bush's tax cuts for the rich, the rich have really been milking the poor for years. Look at the past few years. Its really been a wealth redistribution in favor of the elite. Of course you right wingers live in denial of that.
I want an appropriate balance that is maintained. Top 1 percent have 10 times what the bottom 20 percent have, or even a greater amount, thats fine. But the gap shouldn't be increasing, or decreasing.
Also, someone who works 40 hours a week should be able to support themselves near their place of work. Right now though, the rich are the biggest obstacle to that and they need to be reigned in.
We have a situation where the billionaires club in New York can and do manipulate markets, which takes away wealth from someone else, so they can almost never lose money and they blowup massive asset bubbles which when they burst, the government showers them in money and tries to hide the facts of what happened from their own people like nothing ever happened. These extremely wealthy people should be taxed more than anyone has ever been taxed before.
I have to admit I are never going to put a dent on your armor certainty that somehow liberalism will make you go broke. Liberalism and its sense of social economic justice will not spend the government into insolvency. However the costs of using our publically supported military (trillions per year) to assure access of the hyper wealthy international oil barons to most of the world's oil and gas reserves certainly will. The other road to ruin is allowing the legislative and executive processes be purchased by the top 1% of wealthy to their own benefit.
It is not liberalism and the social welfare spending that threatens our economy and Republic but the market distortions created by crony capitalism with interlocking directorates with blatant collusion and price setting that will destroy the economy just as buying political privilege will destroy the Republic. Destroying our republic and replacing it with a privileged ruling class based on wealth is part of the changes the bosses are trying to solidify as they already have most of their autocracy in place.
One way to mitigate these potential disasters is to completely reform the electoral process by eliminating private contributions to the candidates (free money is IMHO NOT Free speech but an implied bribe) and establishing an income tax based on all sources with a base deduction of the 85th percentile and progressive rates to the 90% level on all income from all sources. The latter would remove much of the surplus money used to bribe our politicians through the election system.
I am a liberal because I really desire a political system free of monetary influence and control by the wealthy and a socialist economic system for the poor and working classes with an unrestricted capitalist free market for the investor and managerial class. This is the direct opposite of the Corporatocracy that is ruining both our Republic and our economy.
Often on this forum there are calls to markedly increase income taxes on the rich. If we take that interest to the extreme and tax the rich (those making more than $250,000 per year) 100% of thier income (slavery), that would yield 1.3 trillion in federal revenue. Obviously, in the absence of marked spending cuts, that would not be enough revenue to be able to cut our deficits. I am wondering when the citizens of the US will wake up to the fact that milking the rich will never solve thier problems and that spending cuts is the only way to get back on the road of financial stability.
That's a great idea! Take 100% of everyone's income, then the Feds could RECYCLE (libs love that) the FEMA trailers from New Orleans, and line them up in rows so everyone could live in them. Win Win.
Funny because with the income gap rising, and Bush's tax cuts for the rich, the rich have really been milking the poor for years. Look at the past few years. Its really been a wealth redistribution in favor of the elite. Of course you right wingers live in denial of that.
I want an appropriate balance that is maintained. Top 1 percent have 10 times what the bottom 20 percent have, or even a greater amount, thats fine. But the gap shouldn't be increasing, or decreasing.
Also, someone who works 40 hours a week should be able to support themselves near their place of work. Right now though, the rich are the biggest obstacle to that and they need to be reigned in.
Not all but many of these top 1% work 80 hour weeks with nose to the grindstone. How many in the hood aka mostly lower class poor can say they spend 80 hours a week working (not counting the drug dealing 24/7 etc). Most don't want to work and legitimately pay taxes and the thought of working more than a 40 hour week is foreign to alot (not all) but most. Some just live to make beer & pretzel money.
Their rates continuously drop. So they pay a lot less of a portion of their income.
However because of inflation, and the fact that the income gap increasing (the wealthy getting more and more and more of the share of total resources) they pay more of the share of taxes, and the dollar amount is bigger.
When you look into their evergrowing salaries and bonuses they give themselves, while the wages on the bottom remain stagnant, the tax rates on the wealthy are really a joke.
I have to admit I are never going to put a dent on your armor certainty that somehow liberalism will make you go broke. Liberalism and its sense of social economic justice will not spend the government into insolvency. However the costs of using our publically supported military (trillions per year) to assure access of the hyper wealthy international oil barons to most of the world's oil and gas reserves certainly will. The other road to ruin is allowing the legislative and executive processes be purchased by the top 1% of wealthy to their own benefit.
It is not liberalism and the social welfare spending that threatens our economy and Republic but the market distortions created by crony capitalism with interlocking directorates with blatant collusion and price setting that will destroy the economy just as buying political privilege will destroy the Republic. Destroying our republic and replacing it with a privileged ruling class based on wealth is part of the changes the bosses are trying to solidify as they already have most of their autocracy in place.
One way to mitigate these potential disasters is to completely reform the electoral process by eliminating private contributions to the candidates (free money is IMHO NOT Free speech but an implied bribe) and establishing an income tax based on all sources with a base deduction of the 85th percentile and progressive rates to the 90% level on all income from all sources. The latter would remove much of the surplus money used to bribe our politicians through the election system.
I am a liberal because I really desire a political system free of monetary influence and control by the wealthy and a socialist economic system for the poor and working classes with an unrestricted capitalist free market for the investor and managerial class. This is the direct opposite of the Corporatocracy that is ruining both our Republic and our economy.
Are you prepared to pay $10-15+/gallon of gas? The poor won't be able to and crime will go up moreso. We have to fight. Unfortunately most wars seem to be motivated by oil or religion, take your pick.
I have to admit I are never going to put a dent on your armor certainty that somehow liberalism will make you go broke. Liberalism and its sense of social economic justice will not spend the government into insolvency. However the costs of using our publically supported military (trillions per year) to assure access of the hyper wealthy international oil barons to most of the world's oil and gas reserves certainly will. The other road to ruin is allowing the legislative and executive processes be purchased by the top 1% of wealthy to their own benefit.
It is not liberalism and the social welfare spending that threatens our economy and Republic but the market distortions created by crony capitalism with interlocking directorates with blatant collusion and price setting that will destroy the economy just as buying political privilege will destroy the Republic. Destroying our republic and replacing it with a privileged ruling class based on wealth is part of the changes the bosses are trying to solidify as they already have most of their autocracy in place.
One way to mitigate these potential disasters is to completely reform the electoral process by eliminating private contributions to the candidates (free money is IMHO NOT Free speech but an implied bribe) and establishing an income tax based on all sources with a base deduction of the 85th percentile and progressive rates to the 90% level on all income from all sources. The latter would remove much of the surplus money used to bribe our politicians through the election system.
I am a liberal because I really desire a political system free of monetary influence and control by the wealthy and a socialist economic system for the poor and working classes with an unrestricted capitalist free market for the investor and managerial class. This is the direct opposite of the Corporatocracy that is ruining both our Republic and our economy.
Not sure Obama would have made it into office if the first sentence bolded were true!
That's a great idea! Take 100% of everyone's income, then the Feds could RECYCLE (libs love that) the FEMA trailers from New Orleans, and line them up in rows so everyone could live in them. Win Win.
well heck yeah! Sounds like a plan Obama could live with! You are the man!
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