Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Poor ignorant right wingers love to recite these income tax figures that the rich pay.
Income tax only accounts for 48% of Federal revenues.
Payroll tax which they omit on purpose accounts for 33% of Federal revenues.
88% of taxpayers pay a payroll tax.
Their rich masters only give them half the story (income tax only data) and they use these half truths to argue that liberals are mean to the rich....LOL
Whaaah!
And employers (you know, the big bad mean rich guys) pay for these things too. They also pay for unemployment taxes.
And SSI is something you get when you retire. And I believe the "rich" won't get it due to earning.
And employers (you know, the big bad mean rich guys) pay for these things too. They also pay for unemployment taxes.
And SSI is something you get when you retire. And I believe the "rich" won't get it due to earning.
Price of success and contributing to the COMMON good. Do you not understand that we are all in this together. Do you not understand that we are already in Socialist Democracy. Labor has to be recognized just as much as fat cats sitting in a boardroom.
I have mixed thoughts about all this. A large percentage of the rich got that way thru lobbyists that fixed the game in their favor. The wall street crowd pushed for deregulation that nearly destroyed us, the executives and medical people fetch wages that are double to ten times what any other developed country would pay them. The insurance companies have a monopoly, the malpractice lawyers get fatter every year. Meanwhile, the good guys like Bill Gates give us new technology and jobs of all kinds. Small and large business that produce manufactured goods, providing products for VOLUNTARY consumption are the backbone of a fair market system, and the real heros IMO. Certainly taxes are much higher in Europe and Japan, but they still have companies that produce high quality goods. They have rich people too (not so many super rich), but alot less poor people.
I just don't think the US economic structure is in step with the world market anymore, and the Unions have to suck it up too, as I don't think a GM worker should get twice as much as a Toyota worker in an american plant. Greed is the problem, if you cut all the little piggies out of the pie there would be more to go around for those that deserve it, that is, those that actually produce and make production possible. Not a bunch of gravy sucking middle men that skim off everything.
There may be a sweet spot with tax rates, too low or too high having a negative effect. But we also have massive defecits that will destroy the value of our money over the long term. This will hurt everyone more than taking action now to prevent it. They have to raise taxes AND/OR cut spending to balance the budget. If their going to raise taxes, identifying the people whom have looted the economy and making them pay higher taxes is the way to go. I'm not above the idea of capital and property seizures for some of those mortgage flippers, some bankers, do nothing middlemen that don't produce anything, and wall street people that got super rich off their derivatives game.
I agree with you but now Obama is starting to suck up to Wall Street and saying maybe those big bonuses weren't such a bad thing. He sees they are going to be big contributors to his re-election. Politics as usual and when will it end?
I agree with you but now Obama is starting to suck up to Wall Street and saying maybe those big bonuses weren't such a bad thing. He sees they are going to be big contributors to his re-election. Politics as usual and when will it end?
Republican or Democrat if you dont have the approval of big business you dont get elected. They own the Media----and the media can destroy any real grass roots campaign, either by ignoring you or by character assasination.
I agree with you but now Obama is starting to suck up to Wall Street and saying maybe those big bonuses weren't such a bad thing. He sees they are going to be big contributors to his re-election. Politics as usual and when will it end?
Are you talking about Blankfein and Jamie Dimon? You've got it so twisted as to make it unrecognizable....
Are you saying, unless you are poor why do you support the Democrats?
Not necessarily.
You have a few Democrats that care about the interests of working people but both parties seem to represent the interests of the rich and corporations.
Forgive my incomplete response, I was typing as I was leaving work. Yes we've had EC after Kennedy but not as it was in 1961 where government was running an attendant large budgetary surplus. The Economy was being slowed by that large budgetary surplus--it was slowing down aggregate demand.
That's why the tax cuts could work then but not subsequently. That and demand oriented governmental spending made the economy roll again.
That's not what supply siders like Reagan/Bush have done - there is no budgetary surplus and the gov spending was geared toward the supply side of the curve. So we were left with borrow and spend.
So all that job growth during Eisenhower was just an illusion?
If you cut taxes on the rich, they will just hoard it.
If you raise taxes, they'll invest the money in their companies in order to avoid the high taxes.
Purple, You've mad a lot of assertions in this post. What are your life experiences that have formed your opinions?
P.S. we are a consumer economy. Those that have more money, consume more goods.
If that rich guy you detest so much has enough money to buy that vacation home, who benefits? Hmm. The builder, the carpenter, the plumber, etc. Then he has to fill the house. Who benefits from that? Hmm. maybe the stores that supply, ranges, dishwashers, sofas tv's,etc.
You see all those jobs are kept by the people with money 'contributing" to the economy. Which means people are employed. The people with money keep the middle class employed.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
