If you think 'taxing the Rich' will dig us out...
- Thread starter skydivr
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I'll have to watch it tonight, but in reference to the subject, until America realizes we cannot sustain ourselves with the list of those looking for the easy button ever growing. Entitlement programs have their place, but until regulations are in place to monitor abuse, we're only left chasing our tails. No amount of tax hikes will EVER cover all the waste on entitlements or general waste in the gov't...
GNBRETT
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lol.... first of all anyone who thinks the national debt is gonna be payed off in (1) year is drinking too much of the coolaid....
its likely a 20-40 year process. maybe we should tax the middle class and poor really hard since they can truly afford it.???
its not about taxing the rich anyway. its about taxing those who can afford to be taxed and still live perfectly fine while giving the middle class a break so they can use that saved money to create either new businesses, invest in their current business or invest in mutual funds to stimulate the economy and reduce some of the stress of week to week living most people do.
and how could we make those living on welfare and food stamps who are perfectly able to work accoutable? thats just crazy!
its likely a 20-40 year process. maybe we should tax the middle class and poor really hard since they can truly afford it.???its not about taxing the rich anyway. its about taxing those who can afford to be taxed and still live perfectly fine while giving the middle class a break so they can use that saved money to create either new businesses, invest in their current business or invest in mutual funds to stimulate the economy and reduce some of the stress of week to week living most people do.
and how could we make those living on welfare and food stamps who are perfectly able to work accoutable?
thats just crazy!
Mr Brown
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We need social programs, but they need to actually work. We do not need corporate welfare, loopholes in the tax code, or government waste.
If Warren Buffet says he needs to pay more taxes, I'm inclined to believe him....
"The 400 of us pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you're in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent."
Speaking at a $4,600-a-seat political fundraiser in New York, as quoted in "Buffett blasts system that lets him pay less tax than secretary", Times Online, June 28, 2007
If Warren Buffet says he needs to pay more taxes, I'm inclined to believe him....
"The 400 of us pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you're in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent."
Speaking at a $4,600-a-seat political fundraiser in New York, as quoted in "Buffett blasts system that lets him pay less tax than secretary", Times Online, June 28, 2007
Americans should be pissed off that taxes don't go to paying education, police and fire first. Unless someone can think of something that is more important than educating your children. What are taxes for anyway? Everytime Lamb hears a politician say we gotta make some cuts to the budget, we r gonna have to cut police, fire, and teachers salary, he wants to spit blood.
Instead of protecting and serving and doing real police work the force has to take to the streets and hide behind trees to "catch criminals" engaging in the heinous act of...gasp...speeding!? and this is to pay their salaries which are already being paid for with our taxes, arent they?
Big government...you can have it Russia...Cuba...Germany...Switzerland...England....Just spend my money folowing the priority list. If there is money left over then the handout programs can have a shake. Lamb understands this is a very non lawyer necessary system so the chances of ever seeing such a common sense approach is foolish...oh well.
Instead of protecting and serving and doing real police work the force has to take to the streets and hide behind trees to "catch criminals" engaging in the heinous act of...gasp...speeding!? and this is to pay their salaries which are already being paid for with our taxes, arent they?
Big government...you can have it Russia...Cuba...Germany...Switzerland...England....Just spend my money folowing the priority list. If there is money left over then the handout programs can have a shake. Lamb understands this is a very non lawyer necessary system so the chances of ever seeing such a common sense approach is foolish...oh well.
newb
Registered
Flat sales tax with no income tax. Then it doesn't matter who you are, you pay. Luxury items get taxed at a higher rate. Unprepared food and water (I.e. necessary items) no tax. Gets all of the illegals, drug dealers, and anyone else not paying income tax. This lessens the IRS load as well and cuts gov spending. My 2¢
Didnt even watch it, dont need to. Im poor, so tax those rich folks all day, wont bother me a bit. As a member of the middle
-lower class, I feel others should pay for my needs. God bless the USA!
-lower class, I feel others should pay for my needs. God bless the USA!
Rainbow7
Registered
Except that he doesn't pay less tax than a secretary. He might pay a lower percentage of his income in taxes but I bet the actual dollar amount is a hell of a lot more than a secretary pays.
Buffet is just an attention hound. He paid $6.5M in income taxes. He paid accountants to find and take advantage of every loophole and break possible. If he thinks he should pay more, he could have done the EZ form and sent more. The reason the rich gennerally pay less % than the middle class is because they make more of their income in capital gains with is taxed at a lower rate than earned income. The lower capital gains rate is to benefit the middle class.
I see folks missed the point of the video. We cannout tax our way out of the current deficit. The deficit is the amount of debt we add every year. A 20-40 year plan to get to a ballaced budget is a fallousy. More likely 20-40 years to pay off the current debt if we stop adding to it today. This isn't a Republican vs Democrat problem. This is an every American problem. The Government needs to control spending first. Adding more tax dollars to a Goverment that is in the mode of looking at tax "income" as only needing to cover the payments on principle and intrest on the loans from foreign countires only makes the situation worse.
Mr Brown
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Buffet an attention hound? Really? He has more money than God. He doesn't want or need our attention.
You guys can say/think whatever you want, the only way to reduce the deficit is to reduce spending AND raise taxes. As said, it's not a repub vs. dem issue, none of them care about working people.
Middle class folks arguing and complaining about raising he tax rate on he rich is funny as hell to me, we are never going to be them (contrary to the myths they sell), so why should they pay less than I do? Capital gains is income and should be taxed accordingly. Do a little research and find out what the tax rate on the upper 1% of income was in the 50's and 60's, the era when the U.S. dominated the economic world.....
You guys can say/think whatever you want, the only way to reduce the deficit is to reduce spending AND raise taxes. As said, it's not a repub vs. dem issue, none of them care about working people.
Middle class folks arguing and complaining about raising he tax rate on he rich is funny as hell to me, we are never going to be them (contrary to the myths they sell), so why should they pay less than I do? Capital gains is income and should be taxed accordingly. Do a little research and find out what the tax rate on the upper 1% of income was in the 50's and 60's, the era when the U.S. dominated the economic world.....
Mr Brown
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Well duh. I thought that was obvious.....
frisbee said:
Yes, its 2 steps above me
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Income tax and Capital Gains are two entirely different animals. Warren Buffet makes $100K annually in wages and pays exactly what everyone else pays. He makes most of his money through Capital Gains which he re-invests.
Rich people didn't get rich by being stupid. Raising capital gains taxes would drive money out of this country onto foreign lands and actually decrease the gross amount of tax collected from capital gains. Some economist say the country would benefit if the capital gains tax was completely eliminated.
I heard a quote the other day that described the Warren Buffet theory quite well: "This Warren Buffet rhetoric is nothing more than the left pandering to the stupid and uninformed"!
All I know for sure is "What we are doing right now aint workin folks"
Rich people didn't get rich by being stupid. Raising capital gains taxes would drive money out of this country onto foreign lands and actually decrease the gross amount of tax collected from capital gains. Some economist say the country would benefit if the capital gains tax was completely eliminated.
I heard a quote the other day that described the Warren Buffet theory quite well: "This Warren Buffet rhetoric is nothing more than the left pandering to the stupid and uninformed"!
All I know for sure is "What we are doing right now aint workin folks"
Rainbow7
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Yeah...obvious to you and me...but not obvious to the Democrat-voting idiots who think money comes from "Tha Gubmint".
I agree with this absolutely. It needs to be done in that order though. Raising taxes without getting spending under control will only lead to mote spending and bigger deficits. It will take an across the board tax increase, not just a tax increase on the 1%. If you raise the capital gains tax rate, you will pay more taxes when you sell your house if you aren't upside down since that is a capital gain.
Mr Brown
Registered
The rich get richer by both creating and exploiting loopholes in the tax code (which is so convoluted it's ridiculous) while the rest of us suffer. If the gov't were serious about reducing the burden on working people they would make things fair by changing the way things are done. They couldn't care less, politicians are bought and paid for by the time they take office. There are simple and fair solutions for most all of the problems that this country suffers from, unfortunately the leadership is not interested in anything besides keeping their power. We have created a ruling class and they aren't going to give it up easily.
Mr Brown
Registered
Agreed, however cuts must be made across the board. We cannot allow sacrifices to be made to arts and education for instance, without a similar percentage being cut from defense and personnel. Everyone will have to feel the pinch equally to get it done. Exemptions on capital gains could be offered for those selling houses in which they actually reside, as opposed to those who make a living buying and selling property.
How about putting the U.S's debt into perspective.
Dollars vs time.
1 million dollars is alot to most of us individually, but a drop in the bucket for the government.
1 million seconds = about 12 days
1 billion dollars, the elite and few have it.
1 billion seconds = roughly 30 years.
Now for 1 trillion, are you ready?
Try 32,000 years!
Got a better grasp on the problem now?
Oh yeah, and it's growing, not decreasing.
Dollars vs time.
1 million dollars is alot to most of us individually, but a drop in the bucket for the government.
1 million seconds = about 12 days
1 billion dollars, the elite and few have it.
1 billion seconds = roughly 30 years.
Now for 1 trillion, are you ready?
Try 32,000 years!
Got a better grasp on the problem now?
Oh yeah, and it's growing, not decreasing.
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