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Thread: Census shows 1 in 2 people are poor or low-income

  1. #551
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Catawba View Post
    And he increased capital gains tax rate to 20% didn't he?
    Please clarify...this statement doesn't jibe with:

    Historical Capital Gains and Taxes

    In fact it looks like he reduced them in '97. How does the phrase go? Oh yeah 'tax breaks for the rich'...

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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Catawba View Post
    Once again, you exclude capital gains and dividends tax rates. That is where most of the disparity in income results from.



    The Bush Tax Cuts Disproportionately Benefitted the Wealthy | Economic Policy Institute
    Psst, you didn't read or didn't understand what the numbers I posted mean, plus you're changing your argument.
    The taxes for the middle class did not go up.
    There is nothing there to support it, at all.

    You either lied or were seriously mislead.
    Stop trying to hide from your original statements.
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Catawba View Post
    Over the last 30 years tax rates have been increased for the middle class and cut for the wealthy.
    Support this statement or admit you were wrong.
    Stop changing your argument.
    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.
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  4. #554
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Catawba View Post
    Its historical fact Harry. Do you know what the capital gains and inheritance tax rates were prior to 1981???
    As for cap gains...well, for 79-81 they were the same as they were from 87-90. But higher than those from '54 to '69. So what's your point.

    Historical Capital Gains and Taxes

    As for estate...well, they were lower from '34-'79 except for 1947. Again, so what's your point.

  5. #555
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Catawba View Post
    Once again, you exclude capital gains and dividends tax rates. That is where most of the disparity in income results from.
    Capital gain and dividend tax rates cause most of the disparity in income??? Can you explain this more clearly?

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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Catawba View Post
    If that were the case, wouldn't there high inflation? The inflation rate is historically low.
    I believe this is artificial these days as well...but artificial or not it will come, have no fear, it is inevitable.

    Yep, like those in the Clinton Administration, the only real cuts we've had in the past 30 years.
    You can thank repubs, and Gingrich for dragging him kicking and screaming for that.

    I think he cut military spending in half didn't he?
    Yes, that worked out well on 9/11 didn't it?

    And he didn't start any optional unfunded wars either did he?
    No, in fact missiles to aspirin factories in order to divert attention to his uncontrollable escapades were the order of the day. In any case, he nearly left us wide open, and we were attacked....Great record.

    And he increased capital gains tax rate to 20% didn't he?
    And left Bush with a recession due to his corrupt energy policy.

    Despite the media effort to pin the 2001 recession on President Bush, the fact remains that he had little to do with the last eight years of economic policy from the White House. The infamous miracle bubble of Bill Clinton's economy burst last summer when OPEC oil price increases rocked the world economy.

    In February 1999, Energy Secretary Bill Richardson visited Saudi Arabia when prices were at their lowest. Richardson reportedly pressed Saudi Oil Minister Ali Naimi on the "oversupplied market" and expressed concern about "extreme price volatility."

    Former Saudi minister Sheik Ahmed Zaki Yamani told a Houston oil conference that Richardson had "saved the oil industry" during that visit because his "intervention" had "persuaded" the Saudis to change policy by raising prices.

    After Richardson's visit, Petroleum Intelligence Weekly, an industry newsletter, quoted Saudi officials as wanting "a price of $18 to $20 as soon as possible."

    In 1999, then-President Clinton pressed OPEC to raise prices in order to finance the brutal Russian war in Chechnya. Clinton needed Russia's help settling that pesky little war in Kosovo. However, Bill was unable to aid Boris Yeltsin directly because of the rampant corruption inside Moscow.

    Clinton quietly used OPEC oil diplomacy to supply Russia increased energy profits. The influx of cash into Moscow was mainly obtained through Iraqi oil sold by the U.N. and distributed through Russian suppliers. The cash paid for the Russian war and a new round of rampant corruption, centered on the former Soviet GAZPROM state oil company.

    However, there were also unexpected results. The oil sales helped Saddam Hussein re-arm his military with a brand new Chinese-built air defense system. The move is also now seen as a major blunder that triggered the 2001 recession.

    Clinton Recession: 'Bill' Comes Due for 8 Years of Corruption
    Now for the record, I think that Clinton did do some good things, but to cast him as some sort of model in governance is a mistake.

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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Dickieboy View Post
    Please clarify...this statement doesn't jibe with:

    Historical Capital Gains and Taxes

    In fact it looks like he reduced them in '97. How does the phrase go? Oh yeah 'tax breaks for the rich'...

    It was a question, notice the question mark at the end of the sentence. Its worse than I thought. Thanks!

    Here's the rundown:



    U.S. Dividend, Cap Gains Tax Rate History: Possible Relevance to Future Taxation - Seeking Alpha
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by AdamT View Post
    Or maybe it just means that it's idiotic to cut spending in a demand-side economic slump. Possibly it could mean that the wealthy have actually prospered throughout the recession, while everyone else has suffered. That might provide a reason why one might look to the rich first. Or one might recognize that, in a demand-side slowdown, it's beneficial to the overall economy to provide relief to the middle class. And, if it must be paid for NOW -- as Republicans insist it must -- that pulling money from the one sector that is going ganbusters makes the most sense. Just some turtle food for thought.
    so all the spending our government does is required and necessary.

    that sort of idiocy is why we have the deficit we have now

    the rich prosper in most economic scenarios. that's why they tend to be rich. Its like pro golfers. They tend to shoot good scores no matter what the course-slick, slow, wet, dry, windy, still etc

    that's why they are pros

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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Harry Guerrilla View Post
    Support this statement or admit you were wrong.
    Stop changing your argument.
    He cannot, its a lie, and the middle class pay a lower share of the federal income tax now than they have in the last 60 years

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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Dickieboy View Post
    Capital gain and dividend tax rates cause most of the disparity in income??? Can you explain this more clearly?
    Tax rates for the middle class have been raised over the last 30 years to make up for the reduction in revenue created by the tax rate cuts for the wealthy.
    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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