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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 Conservative View Post
    Nope, we need more taxpayers not higher taxes and that is something you simply cannot get through your head. Raising taxes does nothing to put people back to work. You just don't have a clue and obviously have never run a business. Cutting spending sends a dollar to the bottomline just like cutting spending will reduce the deficit because the revenue keeps coming in. Amazing lack of knowledge about business that many have here.
    Why did the 60's conservatives oppose the JFK/LBJ tax cuts???


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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Goldenboy219 View Post
    You are missing the forest for the trees. Were people in better financial shape during that period? Where consumers more or less indebted than they are now? Did Americans witness the value of their homes collapse while still being contractually obligated to make payments on a mortgage that far exceeded the value of their homes in 1982? Did the financial system essentially fail in 1981/1982?

    NO! You had people actually taking out 17.5% mortgages! Must have been tough.
    No, I asked you a question were you better off then working than you are today working? is the cost of living higher or lower than it was then? Indebtedness has everything to do with personal behavior whereas cost of living is dictated by economic conditions most outside the control of the individual.

    Tell me how the financial condition today has affected you? Doesn't appear that you were old enough in 81-82 to know what was going on then. Let me help you, people were dumping their homes faster then than today and the working Americans were suffering more then than today. That is reality. Very few were buying homes because of the high interest rates so it was tough, a lot tougher then than today when there are lines for the latest IPhone.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    I just love the lack of understanding the educational elite have about human behavior and cost of living. Keep reading your books and keep ignoring reality. Do you understand how the misery index affects people? Were you better off in 1981-82 with high inflation, high interest rates, and rising unemployment than you are today? Your speculation is just that, speculation. Keep ignoring the facts and human behavior. How are the working Americans worse off today than they were in 1981-82? How are you worse off today than then?

    Bailouts actually were uncalled for in a private sector economy. The short term pain would have led to a stronger economy today. Obama and liberal micromanagment of the economy is typical and makes things worse as did Bush with the bailout.
    Taking this view, the 1981/1982 recession was worse than the depression because you had high inflation. From 1929 - 1933, prices had decreased by 50%; so taking your view, it must have been a blessing for Americans to watch prices fall.

    Wait, you mean to tell me that inflation also takes into account asset valuation such as real estate, commodities, investments, etc...?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    people were dumping their homes faster then than today and the working Americans were suffering more then than today. That is reality. Very few were buying homes because of the high interest rates so it was tough, a lot tougher then than today when there are lines for the latest IPhone.
    Prove that foreclosures were higher today than they were in 1981/82. Prove that less homes were being purchased in 1981/82 (on average) than today.

    You may now attempt to weasel out of actually supporting your argument with something other than talking points.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by j-mac View Post
    Unless you weigh in the fact that inflation is being artificially suppressed right now through the printing of worthless money
    I also want to make another point. Without Federal Reserve policy pushing intrabank lending rates to the zero bound, inflation would most likely be negative. Ask the Japanese how well a negative (or stagnant) rate of inflation has improved their standard of living.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Goldenboy219 View Post
    Taking this view, the 1981/1982 recession was worse than the depression because you had high inflation. From 1929 - 1933, prices had decreased by 50%; so taking your view, it must have been a blessing for Americans to watch prices fall.

    Wait, you mean to tell me that inflation also takes into account asset valuation such as real estate, commodities, investments, etc...?
    Inflation affects daily cost of living more than long term values on assets although a lot of people did quite well on CD's during the 81-82 recession taking advantage of High interest rates. The point remains the recession impacted individuals during each era differently and further the reality is the cost of living today is better than it was during the 81-82 recession but more importantly the leadership in 81-82 was much better than it is today as was the prescription for solving the economic problems.

    Were you individually better off in the 81-82 recession than you are today? Personally I am better off today than I was during the 81-82 recession because of the low inflation and lower taxes

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Goldenboy219 View Post
    Prove that foreclosures were higher today than they were in 1981/82. Prove that less homes were being purchased in 1981/82 (on average) than today.

    You may now attempt to weasel out of actually supporting your argument with something other than talking points.
    Noticed the only one weaseling out is you, are you worse off today than you were in 1981-82? That is what people today are seeing and feeling thus the very low JAR of Obama.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    Noticed the only one weaseling out is you, are you worse off today than you were in 1981-82? That is what people today are seeing and feeling thus the very low JAR of Obama.
    You can't blame one person for the economy.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Goldenboy219 View Post
    Prove that foreclosures were higher today than they were in 1981/82. Prove that less homes were being purchased in 1981/82 (on average) than today.

    You may now attempt to weasel out of actually supporting your argument with something other than talking points.
    U.S. Housing Market: 1982 vs. 2009 - Seeking Alpha

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Jryan View Post
    You can't blame one person for the economy.
    I blame Obama for being incompetent about his understanding of the private sector economy and his strong desire to micromanage the economy from a strong central govt. and then people like you supporting him.

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