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Thread: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

  1. #521
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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by AdamT View Post
    Your argument would hold water if Buffett was saying that wealthy people should voluntarily pay more in taxes, but that's not what he's saying and your argument does not hold water. He isn't holding himself out as a role model. He's saying that, as a matter of pubic policy, the rich should be required to pay higher taxes.
    If there were some way to put THIS line way at the beginning of this thread, none of this arguing would ever have happened. The language used up till now made it sound more like "Buffet and some other rich dudes want to raise taxes because they feel they, and others like them, can afford to shoulder more burden."

    Which is just saying the same thing, but in a different way. NOW Buffet sounds less disingenious. NOW it just sounds like typical democrat mantra, but from a different source.

    If I said we should have a capital gains tax that is comparable to the income tax at the higher income levels, but NO INCREASES on income taxes at any level...would you agree?
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by KevinKohler View Post
    If I said we should have a capital gains tax that is comparable to the income tax at the higher income levels, but NO INCREASES on income taxes at any level...would you agree?
    I'm not sure what that means. Comparable how?

    My personal belief is that we should immediately create a top tax rate of something like 50% for income over $1 million dollars. Once the economy is on a more solid footing -- say, unemployment at 7% and GDP growth at 3% -- that rate should remain in effect and all of the Bush tax cuts should be rescinded.

    In addition we should reform Medicare by implementing limited means testing, permitting negotiation of Rx prices, and moving to a France-type provider compensation model. And we should, of course, cut defense spending considerably. We could also raise the SS retirement age slightly and increase the SS tax cutoff.

    If we do all those things we will not have a debt problem.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by AdamT View Post
    I'm not sure what that means. Comparable how?

    My personal belief is that we should immediately create a top tax rate of something like 50% for income over $1 million dollars. Once the economy is on a more solid footing -- say, unemployment at 7% and GDP growth at 3% -- that rate should remain in effect and all of the Bush tax cuts should be rescinded.

    In addition we should reform Medicare by implementing limited means testing, permitting negotiation of Rx prices, and moving to a France-type provider compensation model. And we should, of course, cut defense spending considerably. We could also raise the SS retirement age slightly and increase the SS tax cutoff.

    If we do all those things we will not have a debt problem.
    The debt problem will only get worse. You'll just end up creating a situation where you end up receiving less tax revenue that you are now.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by KevinKohler View Post
    Buffet alone is not going to change anything just with his money, true.
    It took a while, but you got it!!!!

    But then, even a pebble tossed into a pond can eventually become a wave. If you're not willing to toss the pebble, why would you expect to try to force others to do it for you? You gotta start somewhere...and I would be a LOT more behind these people if they were willing to start that SOMEWHERE by choice, rather than trying to start right out with the application of federal force against their fellow man.
    Its not Buffet's decision as to whether we eliminate the tax cuts for the rich. It will be decided by the majority of Americans next November, and the place the majority of America has decided to start is by eliminating the tax cuts given to the rich over the last 30 years.
    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: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Catawba View Post
    It took a while, but you got it!!!!



    Its not Buffet's decision as to whether we eliminate the tax cuts for the rich. It will be decided by the majority of Americans next November, and the place the majority of America has decided to start is by eliminating the tax cuts given to the rich over the last 30 years.
    How is that going to happen, when the Republicans are going to sweep the elections.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by washunut View Post
    Why, any cutoff makes payroll taxes regressive.
    Close, the FICA Cap makes payroll taxes more regressive:

    "The Social Security component of the FICA tax is regressive, meaning the effective tax rate regresses (decreases) as income increases."

    Federal Insurance Contributions Act tax - Wikipedia, the free encyclopedia
    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: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by apdst View Post
    The debt problem will only get worse. You'll just end up creating a situation where you end up receiving less tax revenue that you are now.
    Not if history is a guide.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by AdamT View Post
    Not if history is a guide.
    How about the government get out of the way of job creation, first and then see where we stand? Or, would that make too much sense?

    Couldn't stick to those evil rich folks, like that; could we?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  9. #529
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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by apdst View Post
    How about the government get out of the way of job creation, first and then see where we stand? Or, would that make too much sense?

    Couldn't stick to those evil rich folks, like that; could we?
    Perhaps you could explain how government is preventing job creation?

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by AdamT View Post
    Perhaps you could explain how government is preventing job creation?
    The drilling moratorium, closing all offshore drilling on the east and west coasts and in Alaska, delaying the decision on the Keystone pipeline, over-reaching regulations on tobacco the tobacco industry, closing coal mines, closing coal fired power plants, NLRB blocking the opening of new plants.

    It blows me away that I have to keep answering this question and the question keeps coming from people who claim to be smarter and better informed than the rest of us.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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