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Thread: United States loses its AAA Credit rating from S & P

  1. #611
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by The Prof View Post
    yes, .6% of the millionaires and billionaires got off as scot free as obama's JOBS CZAR

    another interesting take on that pile of irs data released last week---if you tax america's millionaires and billionaires 100%, you won't make a dent[/url]
    Who is talking about taxing anyone 100%? That's ridiculous.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by pbrauer View Post
    Who is talking about taxing anyone 100%? That's ridiculous.
    How much revenue do you think will be generated by raising the taxes on those rich people then? If you cannot get 100% is it really worth it? Any downside?

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    Re: United States loses its AAA Credit rating from S & P

    Okay … so if you taxed those 60 million that paid nothing .. 250 dollars for the year (5 dollars a week) thats a 15 billion dollar income

    To get that same income from the 1400 that paid no FIT you would have to tax them over 10 million each …. have to wonder how many of those 1400 didn't make 10 million in wages

    Not saying they should be allowed to get away with paying no taxes either … just showing you by the pure numbers where.... there is no fairness in our tax system.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by The Barbarian View Post
    Okay … so if you taxed those 60 million that paid nothing .. 250 dollars for the year (5 dollars a week) thats a 15 billion dollar income

    To get that same income from the 1400 that paid no FIT you would have to tax them over 10 million each …. have to wonder how many of those 1400 didn't make 10 million in wages

    Not saying they should be allowed to get away with paying no taxes either … just showing you by the pure numbers where.... there is no fairness in our tax system.
    Logic and common sense aren't strong suits for liberals who don't think about what they are proposing

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    Re: United States loses its AAA Credit rating from S & P

    candidate obama would raise taxes even if they DON'T yield revenue

    charlie gibson (the guy who got the gotcha girl, palin): "in each instance when the rate was dropped the revenue from the tax increased, the govt took in more money, and in the 1980's when the tax was increased to 28% the revenues went down"

    obama: "well, charlie, what i've said is i would look at raising the capital gains tax for purposes of fairness, we saw an article today which showed that the top 50 hedge fund managers made 29 billion dollars last year, 29 billion dollars for 50 individuals, and part of what has happened is that those who are able to work the stock market and amass huge fortunes on capital gains are paying a lower tax rate than their secretaries, that's not fair"

    charlie: "but history shows when you drop the capital gains tax the revenues go up"

    obama: "that might happen or it might not"

    FLASHBACK: Obama Says Raising Taxes Not About Revenue But About Fairness - Katie Pavlich

    hey, raise the rates---revenues MIGHT go up

    LOL!

    know who you're dealing with

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by pbrauer View Post
    Who is talking about taxing anyone 100%? That's ridiculous.
    well, thank goodness for that

    LOL!

    but even IF you did tax the millioinaires and billionaires 100%, it wouldn't make a dent

    social security, medicare, medicaid, pensions and other entitlements are sinking an additional 5.3 trillion dollars per year

    U.S. funding for future promises lags by trillions - USATODAY.com

    if something isn't done NOW to fundamentally reform our precious programs they will expire

    leadership, anyone?

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    Do you think tax rates really matter more than the actual amounts collected? I would assume that you are going to school and the question is why are you doing that if not to better yourself and earn more money so that you can decide where to spend it and what charites to support. Why do you need the govt. to do it for you? I asked you before if you believe we need a 3.7 trillion dollar govt and you never answered. why is that?

    I further pointed out that over 65 million income earners aren't paying any FIT so tell me what their fair share is? You seem to hate rich people, I don't as that is what I always tried to become thus allowing me to need less of that so called govt. help and to spend my money on the charities that I support without deducting federal administrative costs?
    I don't know why you assume I'm going to school. That's odd.

    We need the government to supply a safety net for the simple reason that there wouldn't be one otherwise. Medicare/aid and SS effectively halved the poverty rate that was based on charity and smaller government programs.

    I did in fact answer your question re: whether we need a $3.7 trillion government. What I said, and will say again, is that a dollar figure is meaningless without consideration of what it buys. I think that military spending can be cut substantially. I think that Medicare and SS can be reformed to reduce costs without having a big impact on services. And whatever the result is, that's how much we need to spend, after increasing the budget for infrastructure. If tax receipts can't pay for it, then taxes must go up.

    The famous 47% (actually 45%) who don't pay FIT is inflated due to the recession, but in any case they should pay more. I think that all of the Bush tax cuts should sunset in a year or two. There should also be several higher tax brackets above the current top bracket.

    I don't hate rich people. By many people's standards I am a rich person. Rich people can afford to pay more taxes without affecting their lifestyles. The poor and working class cannot. Simple as that.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    Any downside?
    well, governor cuomo of new york---for example---states unequivocally that "the people of this state simply cannot afford to pay any more taxes, period"
    Last edited by The Prof; 08-11-11 at 09:19 PM.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by AdamT View Post
    It's pretty simple, really. In order to pay for government you have to get a lot of the money from the few people who have all the money.

    "Tax rates on the richest Americans have plunged in recent years, and millionaires today pay tax rates that are 25 percent lower than they were in 1995. Meanwhile, income inequality is the worst its been since the 1920s, with the top 1 percent of Americans taking home 25 percent of the country’s total income. Just the richest 400 Americans hold more wealth than the bottom 50 percent of Americans combined, and the richest 10 percent of Americans control two-thirds of the country’s net worth."

    Let's repeat that again for dramatic effect: "Just the richest 400 Americans hold more wealth than the bottom 50 percent of Americans combined."
    yes repeat it again .... but be sure to add ... there is a vast difference between wealth .... and income .. as highlighted in your own post the top 1% take home 25% of the income ... while paying nearly 40% of all taxes ....

    lets repeat that again ... the top 1% take hom 25% of the total income while paying nearly 40% of all FIT


    So if we are looking for income equality, shouldn't that top 1% that takes home 25% of this nations income ... have to pay 25% of all FIT??
    Last edited by The Barbarian; 08-11-11 at 09:26 PM.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by AdamT View Post
    I don't know why you assume I'm going to school. That's odd.

    We need the government to supply a safety net for the simple reason that there wouldn't be one otherwise. Medicare/aid and SS effectively halved the poverty rate that was based on charity and smaller government programs.

    I did in fact answer your question re: whether we need a $3.7 trillion government. What I said, and will say again, is that a dollar figure is meaningless without consideration of what it buys. I think that military spending can be cut substantially. I think that Medicare and SS can be reformed to reduce costs without having a big impact on services. And whatever the result is, that's how much we need to spend, after increasing the budget for infrastructure. If tax receipts can't pay for it, then taxes must go up.

    The famous 47% (actually 45%) who don't pay FIT is inflated due to the recession, but in any case they should pay more. I think that all of the Bush tax cuts should sunset in a year or two. There should also be several higher tax brackets above the current top bracket.

    I don't hate rich people. By many people's standards I am a rich person. Rich people can afford to pay more taxes without affecting their lifestyles. The poor and working class cannot. Simple as that.
    What it buys? How about a 14.5 trillion dollar debt? You talk about a safety net without ever identifying who that safety net is for? Liberals love to include as many as possible including the clueless and those that abuse the system. I know of no means teasting for aid from the taxpayer so can you believe provide me who that safety net is for and how much that will entail? You claim the military can be cut, ok, how much? It is 700 billion dollars out of that budget now so a small percentage. Isn't that the role our Founders created for the govt?

    That 47% is what it was in 2009 and really doesn't matter, cut it to 30% or whatever you want and compare that to the 1% of the top income earners and ask yourself if that percentage paying nothing is their fair share?

    Rich people pay more in taxes and rich people contribute more to charities without sending it to the govt. first. That is something liberals ignore. Any idea what the administrative costs are for money going to the govt. so they can redirect it to where they deem necessary?

    Where is the Obama leadership on any of these issues. His economic policies have been a disaster and the results are quite telling, all in 2011

    Obama economic results in 2011, .4% GDP and 1.3% GDP growth in 2011, 24+ million unemployed or under employed Americans in 2011, 4 trillion added to the debt in less than 3 years, and a downgrade of the U.S. credit rating. Rising Misery index 7.83 to 12.67. First President in U.S. History to have our credit downgraded on his watch!

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