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Thread: White House Tax Plan Would Ask More of Millionaires

  1. #1291
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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by iliveonramen View Post
    They don't contribute different weighted amounts...everything is 1v1. 100 bucks is spent on a govt salary...that contributes 100 dollars. If 100 dollars is spent to build a bridge that's 100 dollars. The only thing you can be pointing out...which has nothing do with any sort of weighted contributions, is that SS and unemployment are transfers which is not countred towards GDP. Once again...what are you talking about. The government purchasing 100 dollars in goods or a private citizen spending 100 dollars are both 100 dollars in consumption counted towards GDP!

    GDP=C+I+G+(X-m). If private consumption goes down 100 dollars (C) due to taxes and government spending goes up 100 dollars (G) that creats no net effect! This is where the Bush tax cuts are inefficient. When a wealthy person gets a tax break, they don't normally use most of that tax break to consume goods (C). They normally invest that money in the secondary markets or in a bank with is considered "Savings" which is not parts of the equation for GDP. Quit pretending this deeper knowledge unless you want to be specific. Do I think it's possible you have some insight to add that I'm not aware of? Sure! Have you demostrated that? No.

    Once again, this vague pretending of superior knowledge you haven't written anything except a basic view "rich people put money in a bank, the bank lends out money". Please be specific. I'm always open to learning new things.

    They also require customers which most small businesses are not getting a sufficient amount of.



    I know of no one that uses real values to compared GDP growth rates over a period of time. We'll have to agree to just disagree. I would like to point out the US great 4.5 trillion and at the same time China grew 3 trillion.
    Sorry but what I see here is someone who is young and doesn't really understand how the economy works. I call that being book smart, now you need to become street smart. This is an internet forum so you aren't going to believe my background. Keep believing what they tell you in school and believe that is going to help you long term in the real world. If that is what you believe then make sure you go to sleep early Christmas Eve so that Santa comes to your house.

    Regarding your China/U.S. Comparison. Do you want to compare workers wages in each country as well? In addition do you realize how difficult it is to grow from 9.9 trillion to 14.5 trillion vs China growing 3 trillion dollars from their meager base?

    It really is frustrating to see the so called book smart people in this forum who never really held a private sector job. I fear for our country when I see the education that many are receiving. no wonder his country is in a mess.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    Do you have any idea why we have a Congress and what their role is? As for deficits, they are yearly and come from the budgets. Obama deficits for 2009-2011 will total over 4 trillion dollars.
    A good deal of the deficit is due the lost FIT because of the Great Bush Recession.


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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by EarlzP View Post
    Given a choice I would rather see my money going to government employees then to the failed Wall Street CEO,s who have shown their inability to manage. What group was responsible for the recession public employees or Wall Street CEO'S and their employess

    Maybe saying they were not able to manage was less then accurate maybe they knew exactly what they were doing and what the impact on or economy would be and just didn't care as long as they could pad their bank accounts, what do you think?
    Well, unfortunately, we are NOT given a choice. We HAVE to support our government employees, have NO say on which employees we keep, and which we fire, have No say even on how each outfit is ran, other than the grossly incompetent administrative class that we inexplicably continue to vote for every other year. At least if I am buying into a private company, I then get to use my shares to have a direct say in how things are run. Of course, this is now becoming impossible, too. Unless....you're already wealthy.

    As for who was to blame for our economic crisis, that rests with every single person in this country. We had people who were spoon fed the american dream trying to live it before they were financially ready, we had government bodies devoted to making SURE those same people could qualify for just about any loan they applied for, resulting in housing prices going up, since no matter what, people could still get the credit to buy them. In order for the loan companies to cover their buts and turn a fast profit, they then bundled them, and sold them as securities, to other, larger firms, namely, banks, and insurance companies. Those banks and insurance companies, many of them ran by the very people that run the FED, did a little accounting voodoo, stuff that has been going on ever since the federal reserve became the power behind the dollar, and began setting down the rules governing how that dollar is traded, resulting in those securities APPEARING to be more profitable and less risky than they actually were, resulting is some pretty good times for investors and board members, which meant THEY went out and bought more than they maybe should have, as well, at inflated, late 90's era bubble prices. And remember, since most every bank in this country is FDIC insured, they don't have to worry about losing their shirts, because they will ALWAYS get bailed out by the federal government, should they lack the assets to cover monetary withdrawals or liquidations. From there, well, it was only a matter of time before the first domino fell. One, two, three, then hundreds of defaults on loans by people who never should have qualified in the first place, which led to the rapid offloading of those securities to any party that would take them, which led to a few job losses, which led to a few more defaults, until you had the crisis come down on everyone's heads.

    You unravel all of the strings in that messed up ball of yarn, and you'll find that EVERYONE was complicit, in some small way, to our current predicament.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    Sorry but what I see here is someone who is young and doesn't really understand how the economy works. I call that being book smart, now you need to become street smart. This is an internet forum so you aren't going to believe my background. Keep believing what they tell you in school and believe that is going to help you long term in the real world. If that is what you believe then make sure you go to sleep early Christmas Eve so that Santa comes to your house.

    Regarding your China/U.S. Comparison. Do you want to compare workers wages in each country as well? In addition do you realize how difficult it is to grow from 9.9 trillion to 14.5 trillion vs China growing 3 trillion dollars from their meager base?

    It really is frustrating to see the so called book smart people in this forum who never really held a private sector job. I fear for our country when I see the education that many are receiving. no wonder his country is in a mess.
    Once again your condescension is duly noted, Con.


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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by pbrauer View Post
    A good deal of the deficit is due the lost FIT because of the Great Bush Recession.
    You mean the recession that Obama said that he would end and fix. Now we are facing a double dip and you still blame Bush. Here is something to think about

    Hereare snippets from a book of "Impressions & Observations" ofSecretService personnel assigned to guard U.S. Presidents/First Ladies, and Vice
    Presidents.
    Notice the difference according to the Secret Service? Your support for Obama is misguided. He is a true community agitator

    GeorgeW. and Laura Bush: The Secret Service loved him and Laura
    Bush. He was also the most physically "in shape"who had a very
    strict workout regimen. The Bushes made sure their entire
    administrative and household staff understood to respect and be
    considerate of the Secret Service. Karl Rove was the one who wasthe
    most caring of the Secret Service in the administration.
    She was one of the nicest First Ladies, if not the nicest; she never
    had any harsh word to say about anyone.

    Barack & Michelle Obama: " Clinton all over again" - hatesthe
    military and looks down on the Secret Service. He is egotistical and
    cunning; looks you in the eye and appears to agree with you, but turns
    around and does the opposite---untrustworthy. He has temper
    tantrums.
    She is a complete bitch, who hates anybody who is not black; hates the
    military; and looks at the Secret Service as servants.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by pbrauer View Post
    Once again your condescension is duly noted, Con.
    As is your total lack of data and lack of understanding of how business and the private sector work. You appear to be a big govt. liberal who has been brainwashed by an ideology that has failed everywhere in the world yet liberal arrogance makes you believe that this group of liberals can do better than the last group. Same results, different players.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Sorry but what I see here is someone who is young and doesn't really understand how the economy works. I call that being book smart, now you need to become street smart. This is an internet forum so you aren't going to believe my background. Keep believing what they tell you in school and believe that is going to help you long term in the real world. If that is what you believe then make sure you go to sleep early Christmas Eve so that Santa comes to your house.

    Regarding your China/U.S. Comparison. Do you want to compare workers wages in each country as well? In addition do you realize how difficult it is to grow from 9.9 trillion to 14.5 trillion vs China growing 3 trillion dollars from their meager base?

    It really is frustrating to see the so called book smart people in this forum who never really held a private sector job. I fear for our country when I see the education that many are receiving. no wonder his country is in a mess.
    Alrighty.....

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    You mean the recession that Obama said that he would end and fix. Now we are facing a double dip and you still blame Bush.
    Honest question: did he really explicitly say that?

    *Edit:

    And the only reason you believe what that Secret Service agent said is because it fits your view of the world. If it was the other way around you'd say he was an un-American dick and you'd move along.
    Last edited by whysoserious; 10-04-11 at 07:04 PM.

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    Re: White House Tax Plan Would Ask More of Millionaires

    It really is frustrating to see the so called book smart people in this forum who never really held a private sector job. I fear for our country when I see the education that many are receiving. no wonder his country is in a mess.
    Don't make assumptions about me. Am I relatively young? Yes. Do I hold a private sector job? Yes, and it's very relevant to the subject matter we're discussing.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Uh oh is this Reagan and Obama agreeing!
    Reagan agrees to close the tax holes for billion airs and calls on them "to pay their fair share"! Uh oh was Reagan igniting class warfare!?!?
    Oh my!!!



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