Hike Taxes, Hemorrhage Jobs

Discussion in 'Business & Economics' started by madanthonywayne, Aug 26, 2011.

  1. Trooper Secular Sanity Valued Senior Member

    Messages:
    1,784
    Okay, “Eat the ultra rich vs. the merely rich.”

    “But for those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.”

    I don’t think that they are disproportionately rewarded. I think the government failed to reinvest in programs, which once leveled the playing field.
     
  2. Google AdSense Guest Advertisement



    to hide all adverts.
  3. billvon Valued Senior Member

    Messages:
    21,635
    So his proposal is that we add two more tax brackets. Right now the top one is at $400,000. His proposal is to add two more, at $1 million and at $10 million, to make the total 8 instead of 6.

    Hardly "eat the rich."

    OK. So they start reinvesting in such programs. That takes money. Where do you think it should come from?
     
  4. Google AdSense Guest Advertisement



    to hide all adverts.
  5. Billy T Use Sugar Cane Alcohol car Fuel Valued Senior Member

    Messages:
    23,198
    You are agreeing. I said that even a million dollar tax on Bill Gates still would not confiscate as much (as high a percentage) of his annual labors as is typically confiscated of Joe American's as his payment due under the Social Contract.

    The basic idea of the Social Contract, is that those who choose to live in a land with it must "freely give up" some percentage of the annual labor to fund the States obligations under the Social Contract. - I.e. pay for police, military, FDA, clean water supply, sewerage plants, public roads, etc. - Everything the State provides that benefit all is paid by all allowing the State to take X% of they labor (their earnings in practice) as taxes. Those to whom the State provides greater benefit should pay proportionally more. I.e. their X should be greater than the x of the poor.

    For example, the FDIC insures up to $250,000 in each separately titled bank account. Those with that amount on deposit benefit more than those with $250 in their account. This is true in general: The very wealth benefit more from most of the State's "protection services" than the poor who have less to protect.

    It is outrageous that Warren Buffett etc. pay about half the tax percentage that their secretaries do but that is because the 700,000 pages of tax code were written by the lobbyist of the rich and corporations.
     
  6. Google AdSense Guest Advertisement



    to hide all adverts.
  7. madanthonywayne Morning in America Registered Senior Member

    Messages:
    12,461
    What do Charles Schumer, John Kerry, Barney Frank, Deval Patrick, Scott Brown and the Gloucester Fishermen’s Wives Association have in common? They are all upset over the Obama administrations "catch share" rules. To quote John Kerry:

    “Because of federal regulations limiting fishing in our waters, a lot of our fisherman have been put out of business or pushed the brink.” Also last week, he sent a stern letter to Ms. Lubchenco, warning her, “tensions between federal regulators and the fishing community have reached a boiling point beyond anything I’ve ever witnessed in my 26 years in the Senate.”
    http://reason.com/archives/2011/10/24/obama-fishing-czar-divides-dem
     
  8. Billy T Use Sugar Cane Alcohol car Fuel Valued Senior Member

    Messages:
    23,198
    Your link is not very clear about who would get to share the catch - just supports the POV that the fish belong to US fishermen.

    I am reminded of the cod fish war (lots of net cutting and some shots exchanged). The oceans are over fished -regulation and share agreements are necessary or else you will get to repeat the cod fish war off the US coast. Read more about it here: http://en.wikipedia.org/wiki/Cod_Wars

    PS if your post was intended to attack Obama, it fails completely - he is doing the right thing - promoting peaceful solution instead of a new fish war on the Western side of the Atlantic.
     
    Last edited by a moderator: Oct 26, 2011

Share This Page