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Thread: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

  1. #141
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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Higgins86 View Post
    if the 15.1% of people who fell below the poverty line in 2010 are not poor then what does that make a millionaire in America?

    p.s Basra Iraq, I have seen poor and parts of detriot didnt look much better!
    Detroit is what you get when you rely on government wealth transfer.

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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Goldenboy219 View Post
    There is little point in ushering in another economic downturn given how much we have already invested to prevent that very thing. Cutting spending as a means of "starving the beast" is not only irresponsible, but rather short sighted. I believe i have stated this before; the private sector is not ready to be the engine of growth.

    If we cut the federal budget to fit current revenue, we will go into a severe recession that was greater than what was felt in 2008/2009.

    Once the private sector once again becomes that engine, federal spending will subside and we should demand even greater spending reductions. Timing is the essence of life.
    We're already back into a recession, and government spending and deficits have exploded in the past 2.5 years.

  3. #143
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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Harry Guerrilla View Post
    I'd personally rather have the corporate income tax removed, put cap gains back under regular income tax rates and then design a program to encourage more low and middle income investment towards shares and bonds.
    Radical shifts in the tax policy could result in a period of short-termism (such as the 2003 repatriation debacle); it is not as if the current effective corporate tax rate is really that high. Our trading partners would likely view such a move as "beggar-thy-neighbor".

    Something like ID accounts, that match investments dollar for dollar, to a limit.
    As in employer tax credits for participation?

    IMHO, we should be using the corporate tax structure to encourage a greater reliance on skilled labor and technological innovation.
    Last edited by Kushinator; 10-18-11 at 01:08 AM.
    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: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Reg View Post
    We're already back into a recession, and government spending and deficits have exploded in the past 2.5 years.
    No we're not.
    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: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Goldenboy219 View Post
    No we're not.
    Yes we are. Four trillion in new debt has failed to promote a recovery. A drop in the bucket cut will do no harm.

  6. #146
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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Reg View Post
    Yes we are.
    Prove it.

    Four trillion in new debt has failed to promote a recovery. A drop in the bucket cut will do no harm.
    Recoveries following cataclysmic wealth shocks are slow and painful.
    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

  7. #147
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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Goldenboy219 View Post
    Radical shifts in the tax policy could result in a period of short-termism (such as the 2003 repatriation debacle); it is not as if the current effective corporate tax rate is really that high. Our trading partners would likely view such a move as "beggar-thy-neighbor".
    They aren't but business cost accounting can add to the firms personnel costs and instead of companies using resources to avoid taxes, they should be focused on more productive en devours.

    Quote Originally Posted by Goldenboy219 View Post
    As in employer tax credits for participation?
    I was thinking of something akin to IRA's.
    Instead, it not be for retirement but to encourage participatory capitalism, for middle and lower income groups.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Goldenboy219 View Post
    Prove it.



    Recoveries following cataclysmic wealth shocks are slow and painful.
    Read the news. It's a double dip. How can $35B stop that when $4T could not?

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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Harry Guerrilla View Post
    They aren't but business cost accounting can add to the firms personnel costs and instead of companies using resources to avoid taxes, they should be focused on more productive en devours.
    I agree to a point. Accounting costs tied to lowering a tax burden is only a portion of total accounting costs. Accounting for managerial and credit/investment purposes will still exists in the absence of a capital gains tax. We would still be facing short-termism as corporations would rush to pay dividends to shareholders (ala 2003). Then we would have to worry about the possibility of a tax retaliation from nations who lose corporations to our lower rates, which makes me nervous.


    I was thinking of something akin to IRA's. Instead, it not be for retirement but to encourage participatory capitalism, for middle and lower income groups.
    It would be an interesting idea if a sort of income threshold to capital gains was included, e.g. no capital gains tax on LTCG for people earning under $75k/year.
    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: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Reg View Post
    Read the news. It's a double dip. How can $35B stop that when $4T could not?
    Follow your own advice; we are not currently in a recession (there was 100k+ job growth for christ sakes!). Where did you get this $35 billion figure?
    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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