Taxes On The Rich Near 30-Year High: Tax Policy Center

Great video that even some people cough cough should be able to understand regarding the wealth inequality in this country.
http://mashable.com/2013/03/02/we...nequality/

Quote from JeniC : Great video that even some people cough cough should be able to understand regarding the wealth inequality in this country. http://mashable.com/2013/03/02/we...nequality/

Again, the concept of wealth inequality is utterly meaningless and appeals only to those who want to take from others what they themselves cannot otherwise get. Period. It's envy and it's rather nauseating.

Quote from jonsmith74 : Again, the concept of wealth inequality is utterly meaningless and appeals only to those who want to take from others what they themselves cannot otherwise get. Period. It's envy and it's rather nauseating.

Meaningless? LMFAO um sure ok.

What I find amazing is you actually believe what you spew. I believe in a "free market" economy but by free I don't mean where GE or other major companies pay no income tax. "Free market" should not be million and billion dollar companies using their lobby or threats to receive huge tax breaks or subsidies.

I live in up in WNY. Subsidies are king here.

Yahoo is got tax subsidies and reduced-price electricity equal to $2.1 million for each job at a new server farm.

Verizon (one of the richest companies in America) made an even richer deal. They got $3.1 million per job. ( Verizon is getting $614 million in tax breaks and cut-rate electricity for an estimated 200 jobs.)

A local lawyer received a "Empire Zone" grants (tax free grants) to buy a condo. By him buying it and living there it doesn't create jobs even which the "Empire Zone" was designed to do.

A local car dealer wants a 85k tax break to create 2 part time jobs.

The Buffalo Sabres owner wants to build a $123 Million dollar "Harbor Center" but now wants $23 Million in tax breaks.

The Buffalo Bills signed a new lease which they pay nothing for the use of the stadium and get $200 for improvements and subsidies ($10 million) a year. (Owner pays himself $8 mill a year)


This isn't how free market is supposed to go. Unfortunately I have to pay my total property/school tax bill as I have no lobby to get me a tax break. Its not called envy its called what is right and what is wrong. Subsidies to billion dollar companies just ain't right! I fact its called stacking the deck!

Quote from MISHNAH : Umm, just because you get richer, it doesnt mean you have proportionally more homes or cars than a poor person does!

Are you sure? because thats exactly how trickle down is supposed to work, the rich are supposed to buy 10 times as many cars and ipads as someone with tenth as much income, thats (supposedly) exactly how it works.

Quote from JeniC : [SIZE="3"]Meaningless? LMFAO um sure ok. What I find amazing is you actually believe what you spew. I believe in a "free market" economy but by free I don't mean where GE or other major companies pay no income tax. "Free market" should not be million and billion dollar companies using their lobby or threats to receive huge tax breaks or subsidies.

Nice straw man. Who suggested that huge corporations like GE shouldn't pay taxes?

Also, I think you forgot to include in your list of evil "companies" organized labor who dominate the top ten political givers, by a sizeable margin.

Quote : I live in up in WNY. Subsidies are king here. [This isn't how free market is supposed to go. Unfortunately I have to pay my total property/school tax bill as I have no lobby to get me a tax break. Its not called envy its called what is right and what is wrong. Subsidies to billion dollar companies just ain't right! I fact its called stacking the deck!

Huh, we agree on something. But the answer is not more taxation and/or regulation. Get the government completely out of this game.

Quote from roughnready : Since you appear to be on a roll, please enlighten me. How does that chart not suggest wealth being directed toward the top 1% as opposed to everyone else?

dont you get it, its not a zero sum game!!!!!

Whats ironic is conservatives whine about the poor not paying enough in taxes. Taxes are actually zero sum, so if the 1% "create" more and more wealth it only takes a 6th grade level of math to figure out that theyll be paying a bigger share of the taxes than the poor, whos wealth is not only stagnant but declining.

Quote from Gotchaforce : Are you sure? because thats exactly how trickle down is supposed to work, the rich are supposed to buy 10 times as many cars and ipads as someone with tenth as much income, thats (supposedly) exactly how it works.

No, that's now what "trickle down" is.

It's rather amusing how many of you deliberately and perversely characterize those things that you don't understand or like.

I just don't understand it, though. What's the point, the payoff of such silliness?

Quote from jonsmith74 : No, that's now what "trickle down" is. It's rather amusing how many of you deliberately and perversely characterize those things that you don't understand or like. I just don't understand it, though. What's the point, the payoff of such silliness?

Care to enlighten us and actually define trickle down???????? have you actually contributed anything to this thread in terms of actual discussion or is it just quoting people and going "no, wrong" "WRONG" "....... wrong again!"

Quote from Gotchaforce : Care to enlighten us and actually define trickle down???????? have you actually contributed anything to this thread in terms of actual discussion or is it just quoting people and going "no, wrong" "WRONG" "....... wrong again!"

Well, my contributions include presenting actual data that completely contradicted a poster's assertion.

My reasoning completely undermined a poster's erroneous conclusion that a chart suggested the disappearance of the middle class in the US.

My reasoning also undermined another poster's suggestion that the rich's use of jets and vehicles made oil more expensive for the rest of us.

And, no, I will not "define" trickle down economics. It's not my burden. Anyone remotely familiar with an economic philosophy that has been boiled down to trickle down economics understands that it does not rely on the rich becoming ultra consumers. That's a perverse caricature of an economic philosophy. I'm sick of this false attribution of so-called "trickle down" economics to Republicans. It's stupid.

Quote from JeniC : Meaningless? LMFAO um sure ok. What I find amazing is you actually believe what you spew. I believe in a "free market" economy but by free I don't mean where GE or other major companies pay no income tax. "Free market" should not be million and billion dollar companies using their lobby or threats to receive huge tax breaks or subsidies. I live in up in WNY. Subsidies are king here. Yahoo is got tax subsidies and reduced-price electricity equal to $2.1 million for each job at a new server farm. Verizon (one of the richest companies in America) made an even richer deal. They got $3.1 million per job. ( Verizon is getting $614 million in tax breaks and cut-rate electricity for an estimated 200 jobs.) A local lawyer received a "Empire Zone" grants (tax free grants) to buy a condo. By him buying it and living there it doesn't create jobs even which the "Empire Zone" was designed to do. A local car dealer wants a 85k tax break to create 2 part time jobs. The Buffalo Sabres owner wants to build a $123 Million dollar "Harbor Center" but now wants $23 Million in tax breaks. The Buffalo Bills signed a new lease which they pay nothing for the use of the stadium and get $200 for improvements and subsidies ($10 million) a year. (Owner pays himself $8 mill a year) This isn't how free market is supposed to go. Unfortunately I have to pay my total property/school tax bill as I have no lobby to get me a tax break. Its not called envy its called what is right and what is wrong. Subsidies to billion dollar companies just ain't right! I fact its called stacking the deck!

Do you actually think you're arguing with any of the conservatives here about tax loopholes?



That's the problem. Lots of complaining by the left about big corporations having loopholes, and then calls for more rate increases on small businesses.

Your buddy in the white house doesn't want to get rid of loopholes to give out to big business any more than the republicans do.

Quote from jonsmith74 : Also, I think you forgot to include in your list of evil "companies" organized labor who dominate the top ten political givers, by a sizeable margin.

No, I don't think they forgot.......

Quote from jonsmith74 : Again, the concept of wealth inequality is utterly meaningless and appeals only to those who want to take from others what they themselves cannot otherwise get. Period. It's envy and it's rather nauseating.

Actually, in economic terms, wealth inequality has a deleterious effect on the cumulative Greed (or utility) of society as whole. The greater the inequality, the lower the total cumulative Greed of the society.

Here's some good info:
http://en.wikipedia.org/wiki/Econ...efficiency

Quote from Wikipedia : From this standpoint, for any given amount of wealth in society, a society with more equality will have higher aggregate utility. Some studies[77][104] have found evidence for this theory, noting that in societies where inequality is lower, population-wide satisfaction and happiness tend to be higher.

Furthermore, in addition to the decrease in the cumulative Greed, wealth inequality also has a deleterious effect on the growth of total Greed of a society. Here's another interesting takeaway from the same link:

Quote from Wikipedia : Along these lines, Andrew Berg and Jonathan D. Ostry (2011) examined the question of what sustains long periods of strong growth, and found that one of the most robust and important determinants is the level of income inequality.[116] In particular, they found that high 'growth spells' were much more likely to end in countries with less equal income distribution, and that the measured effect was large. For example, they estimate that closing half the inequality gap between Latin America and emerging Asia would more than double the expected duration of a 'growth spell.'

It would appear that based on the evidence related to the total cumulative Greed and the growth rate of Greed, reducing the wealth inequality would be consistent with Kharvel's First Law when applied to the society as a whole, rather than from a rich individual's perspective.

In the name of Greed, wealth inequality should be reduced to more reasonable levels. How this should be accomplished is up for debate.

Greed is Good™

Quote from Gotchaforce : have you actually contributed anything to this thread in terms of actual discussion or is it just quoting people and going "no, wrong" "WRONG" "....... wrong again!"

LMAO

Quote from Elmer : That's the problem. Lots of complaining by the left about big corporations having loopholes, and then calls for more rate increases on small businesses.

Left??? LMFAO someone is ASSuming. How about I've been registered as a Republican since I was even able to vote which is over 22 years. How about I'm smart enough to realize something just isn't right. How about I have family that are religious and have worked their whole life helping the homeless and poor. Sometime people need to actually see how bad the "other side" has it instead of just sitting nice and comfy in their nice home with 2.5 kids and a picket fence. Crime is as high as it is because of poverty.

Quote from Elmer : Your buddy in the white house doesn't want to get rid of loopholes to give out to big business any more than the republicans do.

My buddy? Now that's funny! I voted McCain and Romney buddy.And before that Bush twice, Dole and Bush Sr.

Just because one is smart enough to realize there is a REAL income issue in this country does not make them a liberal.

Quote from Gotchaforce : Care to enlighten us and actually define trickle down???????? have you actually contributed anything to this thread in terms of actual discussion or is it just quoting people and going "no, wrong" "WRONG" "....... wrong again!"

Please stick to debating the issues, not attacking other posters. Thank you for your cooperation.

Quote from Gotchaforce : Are you sure? because thats exactly how trickle down is supposed to work, the rich are supposed to buy 10 times as many cars and ipads as someone with tenth as much income, thats (supposedly) exactly how it works.

um.. did you get that from MSNBC or a 1st grade speak and spell type book? Trickle down economics is essentially supply side economics. Meaning by giving breaks in income tax, corporate tax rates, lessening regulations etc.. (To the people who create products etc..) will lead to a larger supply of products at a lower cost.

When bond rates are low.. people tend to invest in stocks rather than bonds. When capital gains rates are low.. people tend to invest in long term dividend earning positions. Our stock market is only propped up right because our bond rates are so ridiculously low. If our bond rates were at regular yield and our capital gains were 20%+, our stock market would plummet. The market plummeting would affect everyone. Companies would cut even more, raise costs etc.. That would be a form of trickle down economics also.. because taxes, regulations etc.. would end up affecting the majority.

Obamacare imposes regulations and taxes on corporations and businesses (both large and small). Any affect this has on consumer prices will also be trickle down economics.