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Thread: White House Tax Plan Would Ask More of Millionaires

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Grant View Post
    Who are the American tyrants?

    Bill Gates? Warren Buffet? Soros? The late Steve Jobs?

    Can you get more specific?
    Merely a clarification as to why wealth concentration disturbs some people.

    A counter to the meme that nothing bad can come of overconcentration of wealth.

    Many speak of tyranny. Few speak of the nuts and bolts of tyranny. Particularly those who often speak of tyranny.

    If I was an aspiring tyrant, that's what I would do.
    Anyone wondering what I'm talking about start here:
    The Psychology of Persuasion

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    Tell me what purpose it serves to have your daughter protesting Wall Street instead of doing her job taking care of the sick and truly helping the poor.
    Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances
    Do you recognize the 1st Amendment? She has every right and a responsibility to stand up for what she believes in even if I did not agree with her and even if you do not agree with her, I under stand why some would be concerned with the occupy wall street movement, I understand why the rich, why Wall Street, why bankers and many others including the Chinese would be concerned.

    When our involvement in Viet Nam was starting I went I did not have to I asked to, why? the protests were going on and I wanted to know why we were there, I never challenged the protestors right to demonstrate against the war, I did not like it much that people going to college were able to avoid their duty to country I mean the colleges would be there when and if they came back, the fact that many rich kids could avoid duty to country is just one reason I think the rich should pick up more of the tax burden, worst then that was rich kids sat at home while the children of the poor died fighting for their country.

    I will bet that the rich are really concerned about the demonstrations and should be

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by washunut View Post
    Because he responded to something I posted in response to you and also because you know that I was not referring to tax rates as per the income tax. You seem to have run away from the position you took regarding allowing people who have accumulated assets to pass them along to their children.

    The other person whoever/whatever he is, I am less interested in as it just likes to argue for the sake of arguing but seems to have little grasp.
    I am sorry if my thoughts offended you. Another poster mentioned that the higher tax rates on the wealthy did not and would not discourage people from making money. I think that is correct.

    Perhaps I am old and feeble and can not keep track of who is posting to you who posted in reply to someone else and had so and so in mind when they posted to you. I deeply apologize to you if I slighted you or your argument.
    __________________________________________________ _
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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by washunut View Post
    Not sure why I keep this up but once again I am not talking about current tax RATES. I am talking about the ability to accumulate wealth and transfer that to our children if that is what we want to do.
    Estate taxes are just another of the taxes cut since we began the 30 year experiment with trickle down economics. The Estate tax, before it was cut, did not end motivation for people to do well. There is absolutely no evidence of that claim. One of the problems resulting from that cut, in addition to lowering revenues needed to help prevent debt, is that it concentrates wealth in fewer hands so that our economy loses the consumer base with money to consume that is needed to make our economy tick. We should have learned this before, after the Great Depression, but as with all those who refuse to learn from history, we are doomed to repeat it.



    I also think it is too simplistic to talk about talk about tax rates and growth rates decades past. There are all sorts of things that impact the growth in the economy, tax rates being only one of them. So to point to something like a different marginal tax rate 50 years ago and point to a different result in out overall economy is not worthy of debate.
    History has much to teach us in avoiding mistakes already made. We saw how the combination a high disparity of wealth between the classes combined with unregulated speculation led to the Great Depression. And from history we see there is no indication that raising taxes on the wealthy, each time it has been done, has either hurt the economy or increased our debt.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: White House Tax Plan Would Ask More of Millionaires

    Some extremely wealthy Americans - led by Andrew Carnegie back in the days of the gilded age robber barons - have enthusiastically endorsed estate and inheritance taxes. They do NOT prevent people from passing wealth onto their children. That is still done. They simply have to pay a reasonable tax on that action.
    Last edited by haymarket; 10-06-11 at 09:06 PM.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by rocket88 View Post
    So the banks writing loans that they knew people couldn't afford wasn't their responsibility? Where is the bank's responsibility in all this? Was someone forcing them to do this?
    Writing a loan is one thing, signing on the dotted line is another. To blame the banks solely is ridiculous. Banks got their money by bundling the loans and selling them to Freddie and Fannie, both govt. agencies.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Catawba View Post
    Great it is noted that you would prefer the tax rates on total income of the 50's and 60's. We will see what we can do to get them back up to that point for you!
    I didn't expect you to understand the post. Amazing to me how you have so much passion for more money going to the Federal Govt. I am sure the govt. gets that extra check from you each year, right?

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Catawba View Post
    Earlier you blamed the Republican repeal of Glass Steagall Act on Clinton, because he signed it into law. Since you felt Clinton was to blame this would indicate that you have the realization that it was a bad thing, no?
    Just tired of the blame Bush crowd which you seem part of.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by rocket88 View Post
    I'd like to see one instance of somebody saying "Gee, being rich would be nice, but the taxes make me want to stay poor." Who says this? I'd think a higher income is enough incentive if that's what you're after.
    many of the rich haters miss the point

    the point is-a system where only the rich are expected to pay more and more tax is one which encourages all the other citizens to demand more and more goodies because they are never given the proper feedback or charged enough for those goodies to dis-incentize their cravings for more government spending.



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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    Just tired of the blame Bush crowd which you seem part of.
    You really think Bush was a good president. Holy check.

    31 Reasons Why Bush is a Bad President at bengarvey.com

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