Stimulating the rich

[HeavyStick]

But many people who are not making millions pay close to 38%

Take someone earning 100K and that takes them down to 62K.

What is the motivation for someone to work hard to get ahead so that their hard earned money is taken away?

I agree, you have me confused with someone else.

 

[Problem Child]

Re: But seriously, now

A twenty six (26) week extension of unemployment benefits, the core of the Dems' plan, will stimulate the economy much more than will Bush's plan, and will actually cost less!

You're saying that giving a handout to people who aren't working (i.e. producing or adding to the economy in any way) is better than lowering taxes and letting people keep more of their own money? You're nuts.

It's one way to get to your commie wonderland, but it sure ain't going to help our economy anytime soon.

 

[HeavyStick]

Heavystick:
The numbers posted here (if they are correct) prove that a person that makes a billion a year is paying no more of a percentage of income tax than a person that makes 40 or 50k a year.

edit: I might add that under the new economic plan, that top 1.5% will be paying even less taxes than they are now.

What thread are you on?

I posted a true to life example of a neighbor who pays approximately 2.5% in taxes after his refund. I guarantee Bill Gates and Oprah Winfrey pay more than 2.5% in personal taxes. (Outside of their companies which pay MILLIONS more)

 

[A Desert Rose]

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.

Well this is great.... 4 pages of this?

5% unemployment is a bad, bad thing. I would bet that 2% of those don't want to fucking work anyway.

Who are these so-called "needy?" and who says I owe them a fucking thing?

 

[A Desert Rose]

What thread are you on?

I posted a true to life example of a neighbor who pays approximately 2.5% in taxes after his refund. I guarantee Bill Gates and Oprah Winfrey pay more than 2.5% in personal taxes. (Outside of their companies which pay MILLIONS more)

Talk to Unclebill... he says companies don't pay taxes and he has a very valid argument for that too. I am not articulate enough to explain it.

 

[Xodus]

Clinton was re-elected because the economy just happened to be booming at the time. It wasn't his doing but that's the reason.
Bush will be re-elected because of the terrorist threat and his taking of Iraq.
LOL, for a person that doesn't get into politics I seem to be. I must be bored, think I will tie up the wife

PS I really am apolitical. I don't think things will be much different no matter what party has control. I think big money shows no descrimination and buys all parties equally.

 

[RawHumor]

Talk to Unclebill... he says companies don't pay taxes and he has a very valid argument for that too. I am not articulate enough to explain it.

Correction - companies DO pay taxes, but it is they charge their customers to compensate themselves for it. It's not exactly the same thing.

 

[HeavyStick]

Talk to Unclebill... he says companies don't pay taxes and he has a very valid argument for that too. I am not articulate enough to explain it.

It's in the accounting. Corporations pay taxes on the net profit. Some Corporations get taxes lifted for providing jobs in financial stricken areas.

 

[Thrillhouse]

And if they pay a bit more...so what? If you have millions, what's a few extra thousand? When yopu only have thousands, a few extra hundred can hurt alot. I don't think that someone who makes $150,000 a year should worry about being taxed out of his lifestyle, and the rich cannot be seriously damaged by a single digit tax increase. Their greed pertaining to amounts of money that they can afford to give without ever feeling it...ugh.

Not to mention, the ultra-rich have accountants to find loopholes - legal and otherwise - to reduce their burden. The best I can do is TurboTax (Which I highly recommend, BTW).

 

[A Desert Rose]

It's in the accounting. Corporations pay taxes on the net profit. Some Corporations get taxes lifted for providing jobs in financial stricken areas.

As I said... talk to Unclebill. He has a different take on this and please understand, I was a business owner. I saw the checks written to the IRS. There is no need to explain to me.

 

[Texan]

Poor people can't afford to pay taxes. That seems like a simple enough notion. Rich people got rich mostly on the backs of the poor, so maybe they should pay some taxes, don't you think?

fucking bullshit!

more often than not, the rich got that way by providing a boatload of jobs for other people along the way. The poor never hire anyone.

 

[RawHumor]

fucking bullshit!

Yeah, once I saw that quote I pretty much tuned this thread out for a while.

Marxism is alive and well.

 

[miles]

fucking bullshit!

more often than not, the rich got that way by providing a boatload of jobs for other people along the way. The poor never hire anyone.

That's partially true. The rich also got their money by doing evil things and stealing it from poor people.

 

[Worm]

It's in the accounting. Corporations pay taxes on the net profit. Some Corporations get taxes lifted for providing jobs in financial stricken areas.

Corporations are taxed but people pay the taxes. Its like the government coming to you and saying we are taxing your car. The car isn't paying the taxes you are. When a corporation has its taxes raised people pay it in the form of cut wages, lay offs, lower dividends, higher prices on the products they sell etc... ..

 

[miles]

Yeah, once I saw that quote I pretty much tuned this thread out for a while.

Marxism is alive and well.

Scary, isn't it?

 

[Problem Child]

The two groups in this thread can be identified fairly readily.

The first group consists of those who think individuals should all pay an equal percentage of taxes (more or less). Those are people who feel that for the most part the "rich" got that way through fair means, and that they deserve to reap the rewards of their success.

The second group seems to think that the "rich" are all bad and should be punished for their success. Their money should be taken and redistributed to the "poor" because at best, life is a crap shoot, and at worst it's a horrific plot by the Bilderbergers.

In other words, it's all about envy and bitterness.

 

[A Desert Rose]

One more time... here is a brief overview of captialism and how it works for the business owner and the employee:

The less tax burden on the big guy (i.e. the so-called rich folks who own businesses) the more money he can spend on hiring more people... and the more money he can spend on improving benefits to his current employees... and the more money he can invest in improving and expanding his own business which translates into more JOBS... and the more money he has to invest in other business ventures that --- you got it--- creates more JOBS.

So gee.... look who is getting help? The "needy" provided they are WILLING to work.

 

[RawHumor]

The two groups in this thread can be identified fairly readily.

The first group consists of those who think individuals should all pay an equal percentage of taxes (more or less). Those are people who feel that for the most part the "rich" got that way through fair means, and that they deserve to reap the rewards of their success.

The second group seems to think that the "rich" are all bad and should be punished for their success. Their money should be taken and redistributed to the "poor" because at best, life is a crap shoot, and at worst it's a horrific plot by the Bilderbergers.

In other words, it's all about envy and bitterness.

Bravo, but you forgot one thing.

The second group thinks that the first group must be rich, evil, and corrup.

The first group understand that the second group is just misinformed.

 

[RawHumor]

One more time... here is a brief overview of captialism and how it works for the business owner and the employee:

The less tax burden on the big guy (i.e. the so-called rich folks who own businesses) the more money he can spend on hiring more people... and the more money he can spend on improving benefits to his current employees... and the more money he can invest in improving and expanding his own business which translates into more JOBS... and the more money he has to invest in other business ventures that --- you got it--- creates more JOBS.

And the more money he can spend to lay off his employees so that he can put more of it into his own pocket, since everyone knows that a business is simply there to put people out of jobs.

 

[Problem Child]

Bravo, but you forgot one thing.

The second group thinks that the first group must be rich, evil, and corrup.

You're a master of the obvious. The thing about the rich being "rich" is genius.

 

[A Desert Rose]

And the more money he can spend to lay off his employees so that he can put more of it into his own pocket, since everyone knows that a business is simply there to put people out of jobs.

Yes and in doing so, put themselves out of business too.

 

[Xodus]

Wonder which group I fall into?
I am pretty well off, financially.

 

[miles]

The two groups in this thread can be identified fairly readily.

The first group consists of those who think individuals should all pay an equal percentage of taxes (more or less). Those are people who feel that for the most part the "rich" got that way through fair means, and that they deserve to reap the rewards of their success.

The second group seems to think that the "rich" are all bad and should be punished for their success. Their money should be taken and redistributed to the "poor" because at best, life is a crap shoot, and at worst it's a horrific plot by the Bilderbergers.

In other words, it's all about envy and bitterness.

There is also a subset of people in each group who are only repeating what they hear regardless of the facts.

They stick out like a sore thumb.

 

[RawHumor]

You're a master of the obvious. The thing about the rich being "rich" is genius.

That's not what I said at all.

The first group is NOT necessarily rich. They (we) just understand economics.

But, according to the second group, the first group MUST be rich or they wouldn't be defending the rights of the rich.

 

[Problem Child]

That's not what I said at all.

The first group is NOT necessarily rich. They (we) just understand economics.

But, according to the second group, the first group MUST be rich or they wouldn't be defending the rights of the rich.

You're right of course, but I still object strenuously to you trying to add to my perfectly crafted post.