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blue2

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Re: Tax the rich!
« Reply #75 on: April 16, 2012, 10:22:21 AM »

I don't have much compassion say for the 750,000 people that live in Detroit and another 400,000 that live in Toledo and do nothing to help themselves except vote for people that will continue to provide for them.
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Baby Hitler

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Re: Tax the rich!
« Reply #76 on: April 16, 2012, 10:26:38 AM »

I don't have much compassion say for the 750,000 people that live in Detroit and another 400,000 that live in Toledo and do nothing to help themselves except vote for people that will continue to provide for them.
It seems you want to lump all the unemployed together and pitch them in the river, not giving a damn about who it is you throw in there.
Thanks for proving my point.
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blue2

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Re: Tax the rich!
« Reply #77 on: April 16, 2012, 10:50:57 AM »

well you work 24/7 so you can support them then.  I don't want to,
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LetsGoWings

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Re: Tax the rich!
« Reply #78 on: April 16, 2012, 11:16:05 AM »

Why should those who invest money be taxed differently than those who work for it? Why is that a good thing?
Time value of money and inflation. If you buy XYZ stock for 20 dollars and hold it for 5 years and sell it for 20.50, you have a nominal gain, but you most likely to not have a real dollar gain.

Why do you continue to leave out the part about classifying it as long term investing is taxed differently? Short term capital gains are taxed at the marginal rate.
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blue2

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Re: Tax the rich!
« Reply #79 on: April 16, 2012, 12:38:33 PM »

I guess there are just some people against those that have money invested in the stock market and think they should pay a higher tax rate on it.  The invested money is a gamble in a way and it goes to purchase stock in companies that use the funds to continue building their business.  If someone works 30 or 40 years and puts money into an IRA at some personal sacrifice over those years and is now living off of it (instead of living off the government) why do some people want them to pay higher taxes on the income?  Those people could be like the welfare lot and after retirement expect the government to take care of them.
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Frenchfry

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Re: Tax the rich!
« Reply #80 on: April 16, 2012, 09:35:51 PM »

In Senate, Republicans Block Debate on ‘Buffett Rule’
http://www.nytimes.com/2012/04/17/us/politics/buffett-rule-debate-blocked-by-republicans.html

Of course they did....the GOP are the servants of the rich.

The public backlash against the righties will be severe in November.

I doubt the Republican Party will survive....well I hope not anyway.
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No emails, no warnings, no communication whatsoever...just that ban

May be what happened to the other libs as well.

I guess disabling the report to admin link only on the lib side was indicative of the slanted games they play.

Enjoy your spoon-fed Faux News type right-wing echo-chamber.

Edited to add:

This is the only way to answer some of the questions posed:

1) I did nothing to warrant the banishment, it's political.

2) It's the router that's blocked but considering all the nonsense right-wing games being played by those running the site...it's just not worth it to bypass the banishment block.

3) The moron stalkers from MT contemplating a visit will be considered a threat and can expect to have a bad day if they act upon those idiotic thoughts.

bumfunkegypt@live.com

Monrover

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Re: Tax the rich!
« Reply #81 on: April 17, 2012, 10:43:38 AM »

Sure, just take it all. Soak the rich, they have all the money.

Milton Friedman: Why soaking the rich won't work.


Try getting a job from a poor person.

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Never argue with an idiot.
They drag you down to their level then beat you with experience.

“A government with the policy to rob Peter to pay Paul can be assured of the support of Paul”

Frenchfry

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Re: Tax the rich!
« Reply #82 on: April 17, 2012, 02:09:53 PM »

Sure, just take it all. Soak the rich, they have all the money.

Milton Friedman: Why soaking the rich won't work

Try getting a job from a poor person.

During the financial crisis of 2007–2010, several Keynesian economists such as James Galbraith and Joseph Stiglitz blamed the free market philosophy of Friedman and the Chicago school for the economic turmoil.

After Friedman's death in 2006, Keynesian Nobel laureate Paul Krugman, praised Friedman as a "great economist and a great man," but criticized him by writing that "he slipped all too easily into claiming both that markets always work and that only markets work. It's extremely hard to find cases in which Friedman acknowledged the possibility that markets could go wrong, or that government intervention could serve a useful purpose."
http://en.wikipedia.org/wiki/Milton_Friedman

As for your last comment...you've mistakenly made the assumption that all business owners are rich.


The Buffett Rule is a tax plan proposed by President Barack Obama in 2011 to reduce income inequality in the United States between the top 1% of Americans and the remaining 99% of Americans, due to the income growth in the 1% group as compared to the 99% group. The tax plan would apply a minimum tax of 30 percent to individuals making more than a million dollars a year.
http://en.wikipedia.org/wiki/Buffett_Rule
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This is what I see when I visit:

"Sorry Frenchfry, you are banned from posting and sending personal messages on this forum.
This ban is not set to expire."

No emails, no warnings, no communication whatsoever...just that ban

May be what happened to the other libs as well.

I guess disabling the report to admin link only on the lib side was indicative of the slanted games they play.

Enjoy your spoon-fed Faux News type right-wing echo-chamber.

Edited to add:

This is the only way to answer some of the questions posed:

1) I did nothing to warrant the banishment, it's political.

2) It's the router that's blocked but considering all the nonsense right-wing games being played by those running the site...it's just not worth it to bypass the banishment block.

3) The moron stalkers from MT contemplating a visit will be considered a threat and can expect to have a bad day if they act upon those idiotic thoughts.

bumfunkegypt@live.com

Monrover

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Re: Tax the rich!
« Reply #83 on: April 17, 2012, 02:49:49 PM »

blah,blah, blah...[/url]

Krugman has never met a tax he couldn't support or increased spending that didn't meet with his approval.
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Never argue with an idiot.
They drag you down to their level then beat you with experience.

“A government with the policy to rob Peter to pay Paul can be assured of the support of Paul”

Baby Hitler

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Re: Tax the rich!
« Reply #84 on: April 17, 2012, 03:07:04 PM »

blah blah blah[/url]

Try getting a job from a poor person.
Most jobs are created by small business owners, most of which could hardly be considered rich.
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Frenchfry

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Re: Tax the rich!
« Reply #85 on: April 17, 2012, 03:17:50 PM »

Reid Statement On Republicans Blocking The Buffett Rule
Apr 16, ’12 7:17 PM

Washington, D.C.—Nevada Senator Harry Reid issued the following statement after Senate Republicans blocked the Paying a Fair Share Act, which would have required taxpayers earning over $1 million a year to pay a 30 percent tax rate.

“Today Senate Republicans again put millionaires ahead of the middle class. Currently, most hedge fund managers pay a lower tax rate than many of their middle-class employees – but while the incomes for the wealthy have ballooned in recent years, middle-class wages haven’t kept pace with the price of a college education or a secure retirement. The measure that Republicans blocked today would have restored fairness to our tax code and reduced the deficit without asking middle class families or seniors to sacrifice any more than they already have.

“Unfortunately, my Republican colleagues would rather end Medicare as we know it than build a stronger middle class or ask millionaires to contribute an extra penny. Democrats will not stop fighting to restore fairness to our tax code, and I hope that in the future, my Republican colleagues will think of the teacher and the mechanic before the wealthiest Americans.”
http://democrats.senate.gov/2012/04/16/reid-statement-on-republicans-blocking-the-buffett-rule/
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This is what I see when I visit:

"Sorry Frenchfry, you are banned from posting and sending personal messages on this forum.
This ban is not set to expire."

No emails, no warnings, no communication whatsoever...just that ban

May be what happened to the other libs as well.

I guess disabling the report to admin link only on the lib side was indicative of the slanted games they play.

Enjoy your spoon-fed Faux News type right-wing echo-chamber.

Edited to add:

This is the only way to answer some of the questions posed:

1) I did nothing to warrant the banishment, it's political.

2) It's the router that's blocked but considering all the nonsense right-wing games being played by those running the site...it's just not worth it to bypass the banishment block.

3) The moron stalkers from MT contemplating a visit will be considered a threat and can expect to have a bad day if they act upon those idiotic thoughts.

bumfunkegypt@live.com

Frenchfry

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Re: Tax the rich!
« Reply #86 on: April 17, 2012, 03:21:22 PM »

A rich guy’s case for (much) higher taxes
04/17/2012

“I was a kid in the 1950s,” says David Levine. “And the whole time, the top marginal tax rate was 87 percent. Not many people paid that much. Only three baseball players — Ted Williams, Joe DiMaggio and Willie Mays — got there. But it was 87 percent.”

Most people, of course, do not mark major life events by the top marginal tax bracket at the time. But David Levine isn’t most people. Levine is the former chief economist for the investment-management firm Sanford C. Bernstein. He is, as you might expect, a very rich man. But he’s one of those rich guys who, like Warren Buffett, is begging the government to raise his taxes.

Levine has been following federal tax policy for most of his adult life. “My main job was to forecast the economy,” he shrugs. “So taxes are tremendously important to that. And tax policy changes are tremendously important.” And, to him, those changes mostly went the same way: cutting taxes on people, like Levine and his friends, who didn’t need tax cuts, as the working class struggled.

He brandishes a table that tells the whole story: John F. Kennedy brought the top tax rate down to 70 percent. Ronald Reagan brought it to 50 percent, and then to 28 percent. Levine still sounds offended. “I was making seven figures,” he says. “They lowered my marginal tax rate to 28 percent. And the median American, he was paying a 15 percent marginal tax plus his payroll taxes plus the employer’s share of his payroll taxes, which comes out of his income. So he was paying, all in all, about 27.9 percent. And I was paying 28 percent.”

“Under George H.W Bush and Bill Clinton it gets raised a bit more to 39.6 percent,” Levine continues. “But then George W. Bush comes in and cuts it to 35 percent and lowers the rate on qualified dividends to 15 percent. And by now I’ve retired. I’m living off investments. All my income is coming from qualified dividends. And so I’m sitting there in the 15 percent tax bracket. And I use the maximum charitable deduction every year. So my actual tax rate has been 7 percent every year since 2007!”

It would be one thing, Levine says, if the economy had performed so much better after taxes on the rich were cut. But it didn’t. Some of the fastest economic growth of the post-war period came in the 1950s, when the top tax rate was above 80 percent. The slowest growth came in the 2000s, when the top tax rate was 35 percent. So the fastest income growth for the top 1 percent has come under the low-tax regimes, while the fastest income growth for the median American came when taxes on the richest Americans rose.



Correlation is, of course, not causation. As Doug Holtz-Eakin, a conservative economist who squared off against Levine on a panel at the Tax Policy Center, argues, the post-World War II era was good for the United States. We had a kind of global monopoly that allowed us to live large and share the wealth. But that monopoly is gone, and there’s no tax regime that can bring it back.

But the flip side of that is also true. To hear many Republicans talk, you would think that the slightest tweak to the tax rates of the very richest Americans would grind the economy to a halt. In this telling, the “job creators” would go galt and refuse to make profitable investments because the extra money they would make would be taxed at 40 percent rather than 35 percent. Or they would hide so much of their income that the tax wouldn’t raise any money anyway.

But when economists think about the role taxes play in a person’s decision to work, they think about two things. There’s the “substitution effect,” where higher tax rates make you work less, because you keep less of every extra dollar you earn. But there’s also the “income effect,” in which higher tax rates make you work more, because you need to earn more to be able to live how you want to live, or retire when you want to retire. The question is, which dominates?

Levine, who retired before he turned 50, is an example of the income effect winning out. “There’s no question you would have gotten more out of me if you’d taxed me more,” he says. “Think about it. You’re 40 years old, making a ton of money. But you’ve only been making it for a little while. And you’re looking at a life expectancy of 40 more years. Of course you’re going to work more years if taxes are higher! To make the money you need, you need to keep working.”

In a recent paper, economists Emmanuel Saez, Thomas Piketty and Peter Diamond looked closely at the evidence on high-income taxation. “The question we were asking is, where is the point where the Laffer curve” — which tries to estimate when higher taxes lead to less revenue, because of either evasion or slower growth — “hits the maximum revenue,” says Diamond, who won the 2011 Nobel prize in economics. “You don’t want to be beyond that. But we argue you would like to be fairly close to that. Taking revenue from people making $1.2 million is better than taking it from other groups.”

The answer, they find, is somewhere between 50 and 70 percent. Above that, you begin to lose more revenue than you raise. “So instead of the current Washington fight between Bush and Clinton tax rates, let’s think of the fight being between the Johnson/Ford/Carter tax rates and the tax rate we had after Reagan’s initial cut,” Diamond says, with a laugh.
http://www.washingtonpost.com/blogs/ezra-klein/post/a-rich-guys-case-for-much-higher-taxes/2012/04/17/gIQA384rNT_blog.html
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This is what I see when I visit:

"Sorry Frenchfry, you are banned from posting and sending personal messages on this forum.
This ban is not set to expire."

No emails, no warnings, no communication whatsoever...just that ban

May be what happened to the other libs as well.

I guess disabling the report to admin link only on the lib side was indicative of the slanted games they play.

Enjoy your spoon-fed Faux News type right-wing echo-chamber.

Edited to add:

This is the only way to answer some of the questions posed:

1) I did nothing to warrant the banishment, it's political.

2) It's the router that's blocked but considering all the nonsense right-wing games being played by those running the site...it's just not worth it to bypass the banishment block.

3) The moron stalkers from MT contemplating a visit will be considered a threat and can expect to have a bad day if they act upon those idiotic thoughts.

bumfunkegypt@live.com

Monrover

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Re: Tax the rich!
« Reply #87 on: April 17, 2012, 03:23:35 PM »

Reid Statement On Republicans Blocking The Buffett Rule
Apr 16, ’12 7:17 PM

Washington, D.C.—Nevada Senator Harry Reid issued the following statement after Senate Republicans blocked the Paying a Fair Share Act, which would have required taxpayers earning over $1 million a year to pay a 30 percent tax rate.

“Today Senate Republicans again put millionaires ahead of the middle class. Currently, most hedge fund managers pay a lower tax rate than many of their middle-class employees – but while the incomes for the wealthy have ballooned in recent years, middle-class wages haven’t kept pace with the price of a college education or a secure retirement. The measure that Republicans blocked today would have restored fairness to our tax code and reduced the deficit without asking middle class families or seniors to sacrifice any more than they already have.

“Unfortunately, my Republican colleagues would rather end Medicare as we know it than build a stronger middle class or ask millionaires to contribute an extra penny. Democrats will not stop fighting to restore fairness to our tax code, and I hope that in the future, my Republican colleagues will think of the teacher and the mechanic before the wealthiest Americans.”
http://democrats.senate.gov/2012/04/16/reid-statement-on-republicans-blocking-the-buffett-rule/


He controls what gets brought to the floor.

He has a majority of 51 votes in his chamber.

He is afraid of his weak position and his party's potential for loss in the next general election; not the strength of the minority he opposes.
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Never argue with an idiot.
They drag you down to their level then beat you with experience.

“A government with the policy to rob Peter to pay Paul can be assured of the support of Paul”

blue2

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Re: Tax the rich!
« Reply #88 on: April 17, 2012, 07:48:05 PM »

I don't want to say Harry Reid lies, but he definitely doesn't tell the truth.  He gets away with it because the democrat followers believe everything they hear from their left wing demys.  Reid will stand there and tell bold face lies and in the next breath say the other party is at fault.
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Frenchfry

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Re: Tax the rich!
« Reply #89 on: April 18, 2012, 12:04:20 AM »

No lies here...nothing but the truth:

"Between 2009 & 2010 93% Of All New Income Went To The Top 1%" Senator Sanders
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This is what I see when I visit:

"Sorry Frenchfry, you are banned from posting and sending personal messages on this forum.
This ban is not set to expire."

No emails, no warnings, no communication whatsoever...just that ban

May be what happened to the other libs as well.

I guess disabling the report to admin link only on the lib side was indicative of the slanted games they play.

Enjoy your spoon-fed Faux News type right-wing echo-chamber.

Edited to add:

This is the only way to answer some of the questions posed:

1) I did nothing to warrant the banishment, it's political.

2) It's the router that's blocked but considering all the nonsense right-wing games being played by those running the site...it's just not worth it to bypass the banishment block.

3) The moron stalkers from MT contemplating a visit will be considered a threat and can expect to have a bad day if they act upon those idiotic thoughts.

bumfunkegypt@live.com
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