Stimulating the rich

[REDWAVE]

Commentators and pundits are having a field day with Bush's just unveiled economic "stimulus" plan. As one wag wrote, it will sure stimulate Bush's rich cronies and backers. Paul Krugman was especially effective in skewering it in today's Grey Lady. As he puts it, it won't stimulate the economy, it won't help the needy, but it sure gives a lot of goodies to those who are already rich. With liberal writers tearing the Bush plan to shreds, I don't need to say anything myself.

 

[Gil_Favor]

Commentators and pundits are having a field day with Bush's just unveiled economic "stimulus" plan. As one wag wrote, it will sure stimulate Bush's rich cronies and backers. Paul Krugman was especially effective in skewering it in today's Grey Lady. As he puts it, it won't stimulate the economy, it won't help the needy, but it sure gives a lot of goodies to those who are already rich. With liberal writers tearing the Bush plan to shreds, I don't need to say anything myself.

ZZZZZZZZZZZZzzzzzzzzz

 

[Temptress_1960]

Yes, once again the trickle-down theory...

that's where the folks with all the money piss all over the ones without.

 

[zipman]

CNN last night had a statistic about taxes.

28% of the taxes paid by americans comes from the top 1.5 % of the population.



Yeah, the poor are really getting screwed.

 

[plasticman33]

I get a hard on just thinking about it!!

 

[Dixon Carter Lee]

REDWAVE uses the words "wag" and "pundit", like he's on "Face the Nation".

Say "lawmaker" next, RED. For me.

 

[Johnny Mayberry]

CNN last night had a statistic about taxes.

28% of the taxes paid by americans comes from the top 1.5 % of the population.



Yeah, the poor are really getting screwed.

That statistic is meaningless, unless you also know the percentage of the wealth that the top 1.5% control. If they also have 28% of the money, then the system is perfectly fair, don't you think?

 

[REDWAVE]

What?

You mean I'm not on "Face the Nation"?

O darn, I must be in the wrong place-- I'm so confused . . .

 

[zipman]

That statistic is meaningless, unless you also know the percentage of the wealth that the top 1.5% control. If they also have 28% of the money, then the system is perfectly fair, don't you think?

That is very true, and I don't have the statistics of wealth distribution on hand to add to the discussion.

 

[Dixon Carter Lee]

I'm so confused

Say it 10 times. Like a "Hail Mary".

Now go, and "pundit" no more.

 

[Johnny Mayberry]

And, I don't mean to be rude to rich people(because they can buy me or have me dumped into a shallow grave if they want), but I don't have any sympathy for them. I don't mean a farmer who is worth 4 million dollars, I mean some corporate guy who is worth $100 million or more. That guy should shut up and pay whatever he is asked to by the government, and be happy about it. A 2%increase in that guy's taxes is nothing that will ever affect his day-to-day existance. Asking someone who makes $20,000 a year to pay an extra 2% means maybe he can't afford to make a rent or car payment.

 

[RawHumor]

And, I don't mean to be rude to rich people(because they can buy me or have me dumped into a shallow grave if they want), but I don't have any sympathy for them. I don't mean a farmer who is worth 4 million dollars, I mean some corporate guy who is worth $100 million or more. That guy should shut up and pay whatever he is asked to by the government, and be happy about it. A 2%increase in that guy's taxes is nothing that will ever affect his day-to-day existance. Asking someone who makes $20,000 a year to pay an extra 2% means maybe he can't afford to make a rent or car payment.

There's just so much wrong with that statement that I don't know where to start.

 

[Calamity Jane]

Asking someone who makes $20,000 a year to pay an extra 2% means maybe he can't afford to make a rent or car payment.

I'll admit that I'm rather retarded when it comes to taxes, which is why I have someone else figure them out for me, but there was a point when I was making $24000 a year and over 50% of that was going to taxes in addition to what was held out of mine and Mr PCG's paychecks.

 

[Johnny Mayberry]

There's just so much wrong with that statement that I don't know where to start.

Do I have to explain it like I would to a small child, or should I explain it like Rush Limbaugh would, by lying and making things up?

Let's take an income of $20,000, and subtract a 20% tax on it...which leaves $16,000. Now, let's take a $100,000,000 income, and subtract a 35% tax...which leaves $65,000,000. Would you not agree that taxes affect the lifestyle of the first person much more than the second one, even though the second is paying a higher rate?

 

[RawHumor]

Let's take an income of $20,000, and subtract a 20% tax on it...which leaves $16,000. Now, let's take a $100,000,000 income, and subtract a 35% tax...which leaves $65,000,000. Would you not agree that taxes affect the lifestyle of the first person much more than the second one, even though the second is paying a higher rate?

In today's economy, in Income Taxes, what percentage are people with an income of $20,000 paying? I doubt it's anywhere near 20%.

My main disagreement was with your assertion that, because they are rich, they should happily pay any tax that other people decide is fair.

 

[weed]

That is very true, and I don't have the statistics of wealth distribution on hand to add to the discussion.

The top 1-2% make over $200,000/year.

Aprox. 20% of all households get top 50% of income.

Aprox. 5% of all households hold 95% of the wealth.

Aprox. 10% of all households have no income.

Aprox. 20% of all households hold no wealth.

The curve is pretty symmetrical. The regrettable thing is the ends are so extreme. We need a little less of a curve.

Taxes are a way wealth is redistributed for the good of the ecoomy and the nation.

Stimulating the economy would be a nice thing to do if we were stimulating the right end of the curve.

 

[miles]

People, wake the fuck up.

The Democrats who want you to believe that poor people pay income taxes are liars. Period. That is a fact.

It takes about five minutes on the Internet and very little effort to find out who pays what. Then the next time Pelosi whines about a tax bill hurting poor people, you will wonder why she says that.

 

[Dixon Carter Lee]

My main disagreement was with your assertion that, because they are rich, they should happily pay any tax that other people decide is fair.

Ditto.

Still, I support Inheritance Tax.

 

[Johnny Mayberry]

My main disagreement was with your assertion that, because they are rich, they should happily pay any tax that other people decide is fair.

No, but with tax attorneys and accountants, I'm pretty sure that people in that top bracket actually pay less than their share, from a percentage standpoint. I Know that they pay less than the straight tax the government asks.

 

[weed]

People, wake the fuck up.

The Democrats who want you to believe that poor people pay income taxes are liars. Period. That is a fact.

It takes about five minutes on the Internet and very little effort to find out who pays what. Then the next time Pelosi whines about a tax bill hurting poor people, you will wonder why she says that.

Do you expect someone supporting a family of four on $20,000 to pay taxes?

Wouldn't you rather they use the money to keep them off welfare?

 

[miles]

Taxes are a way wealth is redistributed for the good of the ecoomy and the nation.

That's quite a statement.

If it were true, then we should raise taxes and really do some good for the economy.

Please explain to me how taking my income and giving it to someone else is a good thing.

 

[Thrillhouse]

The thing I really don't like about Bush's plan is that it cuts out completely the tax on dividends.

I work hard for my money, which is just barely keeping my family above water, yet I pay taxes on it. Some fucker who belongs to the group known as the "idle rich," who does zero work but makes millions as his wealth accumulates, will pay nothing in taxes? Fuck that.

Edited to add: I'm no economist - if I am incorrect in my above assertions, please correct me. I don't WANT to believe this is true, but it wouldn't surprise me.

 

[weed]

In today's economy, in Income Taxes, what percentage are people with an income of $20,000 paying? I doubt it's anywhere near 20%.

My main disagreement was with your assertion that, because they are rich, they should happily pay any tax that other people decide is fair.

It shouldn't be any tax. But it is in the best interest of the wealthy and the poor that the government have what it needs to support this big nation on the federal level. (cough, cough...that includes military spending, eh)

And since you can't milk a dry cow....


(Efficiency and effectiveness in government spending wouldn't hurt either.)

 

[miles]

Do you expect someone supporting a family of four on $20,000 to pay taxes?

Wouldn't you rather they use the money to keep them off welfare?

!. If they only make $20,000, why do they have two kids they can't support?

2. They may not officially be on welfare, but they receive a direct payment called the "Earned Income Tax Credit." You may want to research it.

 

[Calamity Jane]

The thing I really don't like about Bush's plan is that it cuts out completely the tax on dividends.

I work hard for my money, which is just barely keeping my family above water, yet I pay taxes on it. Some fucker who belongs to the group known as the "idle rich," who does zero work but makes millions as his wealth accumulates, will pay nothing in taxes? Fuck that.

See my post above. The taxes I paid were mostly capital gains taxes on my husband's trust fund. We're hardly the idle rich.