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That little green monster called JEALOUSY has reared his ugly head. But the little grown monster called IGNORANCE made his appearance too. So if all these "evil rich people" are losing all this money, do you think they are NOT going to be closing businesses and laying off employees?
Get a grip. Rich people don't create jobs. Demand creates jobs. And while the top 5% control nearly 40% of the income, the degree to which they fiddle around in financial instruments and assets means they are responsible for a disproportionately low share of demand. Tax cuts for the rich increase wealth, not jobs.
Hah! The rich are in no position to be bringing up class warfare. They and their minions have been engaged in it for 30 years and more. Income redistribution UP the scale. That's the right-wing mantra. Screw the poor. Screw the middle class. Screw the upper-middle class. Take, take, take...because we can!
Moderator cut: rude Those of us who DID make it on our own didn't, as you've been brainwashed into believing, screw the poor or middle classes. In fact, it is the socialist/marxists who have been playing the class card for decades who want you to do this. All the while these organizations steal wealth from you (look at the Pelosi wealth for example, and the tax benefits she voted for her companies) and keep you stupid.
Stupid people are, after all, the ones that are easiest to brainwash. Stupid people rarely have the sense to save for their own futures, much less invest for their savings to grow. These folks should be the first to be made into Soylent Green during the Obama/Pelosi dynasty.
Moderator cut: no personal insults!
Last edited by katzenfreund; 01-07-2009 at 08:39 AM..
Get a grip. Rich people don't create jobs. Demand creates jobs. And while the top 5% control nearly 40% of the income, the degree to which they fiddle around in financial instruments and assets means they are responsible for a disproportionately low share of demand. Tax cuts for the rich increase wealth, not jobs.
I think many here are not talking about the ultra rich (top 2-3%?) but middle class and upper middle class. Most friends I know have 1 or two incomes, usually both from professionals, but they do not have access to complex financial instruments since they did not inherit wealth. Most of the wealth creation is via simple stuff - their 401ks and homes and this has not done well. I have a much bigger problem with corporate taxes which, as a percentage of total collections (corporate + personal), have fallen over the last 6 decades and the percentage of personal taxes has gone up.
why the delight?
most true wealthy live way below their means.
the flaw of the poor is that they think all those people were born with money. many of them
crawled out of the hole. eddie murphy lied its not all impression management.
I will scoff at rich people losing money all day. Problem is, they start crying for taxpayer welfare, and the Dems and Repubs give it to them!
You are confusing corporations with well off people - corporations are the ones crying for bailouts. On the people level, the government is trying to help the people who borrowed too much and these were not the well-off variety.
And SCREW THE PEOPLE WHO HIRED YOU AND SIGN YOUR PAYCHECK!
Nice argument. Love the way you set out your documentation so as to make your point so clear. And of course, the lack of knee-jerk emotionalism. That's always a very important thing...
SHOULD HAVE BEEN MORE. American millionaires have seen their assets shrink by 30 percent during the economic crisis, a report said on Tuesday, with only 36 percent of them pleased with the performance of their financial advisers.
Wealth of U.S. millionaires down 30 percent: survey - Yahoo! News (http://news.yahoo.com/s/nm/20090106/us_nm/us_financial_usa_wealth - broken link)
And how much of that might just have been people's life savings for retirement? You know, a million bucks that is to last 20 years of retired life (from 65 to 85) is only about 50,000 a year to live on. Many people worked hard to save up that money so that they could have a more comfortable retirement. I guess you would see the elderly in poverty so that they be wards of the state now.
I have a much bigger problem with corporate taxes which, as a percentage of total collections (corporate + personal), have fallen over the last 6 decades and the percentage of personal taxes has gone up.
Not sure which Scandinavian country is higher than what US corporations pay, but it would be helpful for you to appreciate that the higher the corporate taxes, the more likely that jobs will be shipped overseas.
It's important to understand that the USA ranks among the highest in corporate tax rates in all the world. Raise them and you risk much higher unemployment.
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