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Wealth redistribution to the upper class was a self-imposed problem. The fact that those who suffered under their own choices now want to ignore those consequences is the problem. You want a 98" flat screen, PlayStation, wireless remotes, a thermostat that senses your presence and a Gucci bag to hold those maxed out credit cards only factors in to the stupidity index.
Patient: Doc, it hurts when I play stupid.
Doc: Stop playing stupid
Patient: But it feels good
Doc: Who give a flying flop how it feels, it hurts you.
Patient: But it makes all my problems go away to drop to me knee for QVC.
Doc: I suppose you're going to ask me for a pill to stop the pain in your knees?
Last edited by BigJon3475; 11-21-2012 at 06:30 PM..
I'm in no way in shape or form a rich guy, but I find the heart of the wealth redistribution idea majorly offputing.
Why should someone, assuming they worked hard, took some chances, and became weathly be penalized with more and more and more taxes, I think that they should pay, don't get wrong....
I believe that human nature is what it is.... if you get too much free stuff handed to you, you don't work as hard as you could......
Some people on here are saying the wealthy pay most of the taxes. This graph from the IRS shows the share of total taxes paid by tax rate. Middle class workers paid far more of total taxes than the top 1 %. The 15% tax bracket group alone pays more than the top 1 %. And within the top 1 %, there are wide differences, with the top 0.1 % truly underpaying in taxes. Those making more than $270 million a year paid a tax rate of just 18.1 % in 2009.
The wealthiest households report very little earned income, i.e. money they worked for, other than capital gains and stock options which are taxed at a much lower rate. So if we're going to talk about people who don't work for their money, and who contribute little to the economy, it is probably the richest of the rich.
Not only do they not contribute to the economy other than the dubious accomplishment of growing wealthier, but most of the serious economic damage the U.S. is struggling with today was done by the top 0.1% (i.e. the collapse of Wall Street), and they benefited greatly from it (as described in the articles below.)
There's nothing wrong in principle with government taxing the rich to help the poor. There, I said it. And I'm really getting sick and tired of Republicans making "redistribution of wealth" the cornerstone of their opposition to Obama and the Democrats.
True, government taxes too much and spends too much, no question - but the problem is one of degree and not of kind. It's also a problem of the federal government usurping the role of churches, charities, and state/local governments much closer to the people in need. These distinctions are important. When you rail against "redistribution of wealth" as though it's something intrinsically evil, you just sound like selfish, greedy idiots.
Tyhey do that already. Its what its costig more and more each eyar. that does make for much but futture like Greece where they now are learnig the actual cost.No mattert what the botto is the bottom and with more there it results in greater gap i income. No governamnt is goig to be able to make you middle class by redistribution.The rish get porrer and the por also get poorer.
The very idea of living off of someone else's work is repulsive to me. It was when I was poor, it is now that I'm "not so poor". To me, it is a matter of character. I learned by watching my Father who, when times were hard, would go and work a second job. He never put his hand out, nor would I. Of course, now that the USA has become so progressive, a very large percentage of children born today have no father, so there you go. There is no doubt that America has changed. We are becoming (or have become) a nation of layabouts who seek not to improve our lot in life but, rather, to see how much we can steal from those who have. This is the "European Model" which the Left holds so dear and we are currently watching how successful that model has turned out to be. As Margaret Thatcher once said, "Socialism is fine until you run out of other people's money".
We Americans are blessed to live in a country where even the poorest of the poor can become wealthy simply through the virtue of hard work. To see the many who have abandoned this precious birthright in favor of jealousy and class envy deeply saddens me.
The very idea of living off of someone else's work is repulsive to me....
Mike
That is what the most wealthy are doing -- they are not working to make their millions. They are earning money from capital gains and stock options of companies. Companies derive their value from the contribution of their workers. This last year saw record earnings for corporations. So, who will benefit? Not the workers but those who hold investments in those companies---i.e. the rich--- living off of someone else's work. Yes, it is repulsive.
Some people on here are saying the wealthy pay most of the taxes. This graph from the IRS shows the share of total taxes paid by tax rate. Middle class workers paid far more of total taxes than the top 1 %. The 15% tax bracket group alone pays more than the top 1 %. And within the top 1 %, there are wide differences, with the top 0.1 % truly underpaying in taxes. Those making more than $270 million a year paid a tax rate of just 18.1 % in 2009.
The wealthiest households report very little earned income, i.e. money they worked for, other than capital gains and stock options which are taxed at a much lower rate. So if we're going to talk about people who don't work for their money, and who contribute little to the economy, it is probably the richest of the rich.
Not only do they not contribute to the economy other than the dubious accomplishment of growing wealthier, but most of the serious economic damage the U.S. is struggling with today was done by the top 0.1% (i.e. the collapse of Wall Street), and they benefited greatly from it (as described in the articles below.)
The very idea of living off of someone else's work is repulsive to me. It was when I was poor, it is now that I'm "not so poor". To me, it is a matter of character. I learned by watching my Father who, when times were hard, would go and work a second job. He never put his hand out, nor would I. Of course, now that the USA has become so progressive, a very large percentage of children born today have no father, so there you go. There is no doubt that America has changed. We are becoming (or have become) a nation of layabouts who seek not to improve our lot in life but, rather, to see how much we can steal from those who have. This is the "European Model" which the Left holds so dear and we are currently watching how successful that model has turned out to be. As Margaret Thatcher once said, "Socialism is fine until you run out of other people's money".
We Americans are blessed to live in a country where even the poorest of the poor can become wealthy simply through the virtue of hard work. To see the many who have abandoned this precious birthright in favor of jealousy and class envy deeply saddens me.
Mike
Uh.... No. We haven't become a nation of lay abouts, that is just far right propaganda, along with a lot of what you said. Try not making sweeping generalizations about a nation of several hundreds of million of people.
That is what the most wealthy are doing -- they are not working to make their millions. They are earning money from capital gains and stock options of companies. Companies derive their value from the contribution of their workers. This last year saw record earnings for corporations. So, who will benefit? Not the workers but those who hold investments in those companies---i.e. the rich--- living off of someone else's work. Yes, it is repulsive.
Workers that have retirement accounts that are in stocks/mutual funds do benefit somewhat. Not to the extreme of the Warren Buffets, but hopefully we make enough to retire with out having to rely on social security.
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