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

  1. #571
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by lpast View Post
    Turtle..do you believe that america should be like medieval england...where the rich and powerful lived in luxury off the toils of the peasants living outside their plush castles..who gave the best of the best of everything to the rich barons and were left with the dregs..in time of drought and famine everything went to the rich barons and lords and the peasants starved...the only thing they recieved from the lords was protection from invaders and that was the lords protecting their investment....you seem to want america to be exactly that way for the most part....peasants work for peanuts to enrich the rich...fight their wars so they can get richer..and in return they get low pay...no pensions, no benefits no security in old age....
    I see strawmen walking

    making people dependent on the government is the best way to create serfs

  2. #572
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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, the top income tax rate has averaged about 40%. It’s now at 35%, one-half of the 70% rate in effect throughout the 1970s. It was even higher, at 90% in the 1950s and early 1960s, before being reduced to 70% in 1965. As we discuss (Stable Income Inequality), these lower-than maximum income tax rates were an instrumental factor, together with the other two pillars of Reaganomics [1], in greatly increasing income and wealth inequality, with disastrous consequences for the economy and for the bottom 99%."
    Please help clear this up for me. The article linked went on and on about low taxes for the wealthy and income inequality but failed to correlate the relationship between the two. Exactly how is the wealthy paying lower taxes causing low/low-middle class earners income to stagnate?

  3. #573
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Dickieboy View Post
    Something about your source is fallacious. The Taxpayer Relief Act of 1997 cut the capital gains tax rate from the 28% your source states to 20%. Look it up.
    I stand corrected, it was decreased from 28% to 20% half way through the last year of the Clinton presidency.

    "This was the first law devoted solely to tax cuts that Congress enacted using the fast-track budget reconciliation process."

    Reagan increased the capital gains tax rate from 20% to 33%.
    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: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by j-mac View Post
    There is more than one way to surfdom my friend...In the modern day I believe it would be called Socialism....


    j-mac
    Please .... we had much higher tax rates for the Rich than anything proposed by the Democrats today under Republican presidents, Eisenhower, Nixon and Ford
    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: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by j-mac View Post
    There is more than one way to surfdom my friend...In the modern day I believe it would be called Socialism....


    j-mac
    I would agree with you...but your assuming im a socialist...I am not...Im just against the rape of the working class that is being perpetrated on the middleclass by the corporations and their CEOS for an extra buck...all the evidence of that is plainly right out there...

  6. #576
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Boo Radley View Post
    So marriage would solve most everything?
    no. for example, it does not solve our entitlement crisis. but the reconstitution of the American family is the single item that would have the largest impact on reducing poverty in our country, as well as the crime and excess government expenditure that go with it.

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

    Quote Originally Posted by lpast View Post
    I would agree with you...but your assuming im a socialist...I am not...Im just against the rape of the working class that is being perpetrated on the middleclass by the corporations and their CEOS for an extra buck...all the evidence of that is plainly right out there...
    You know, Pew Research did a study on why people fall from the middle class into poverty. The top five things correlating with a fall into poverty:

    1. Divorced
    2. Never married
    3. Has done heroin
    4. Failed to graduate High School (in comparison to college grads)
    5. Failed to graduate High School (in comparison to high school grads)

    somehow "was sexually violated by an individual in corporate management" didn't make the list....

  8. #578
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by TurtleDude View Post
    I see strawmen walking

    making people dependent on the government is the best way to create serfs
    Truth.


    ....

  9. #579
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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, the top income tax rate has averaged about 40%. It’s now at 35%, one-half of the 70% rate in effect throughout the 1970s. It was even higher, at 90% in the 1950s and early 1960s, before being reduced to 70% in 1965. As we discuss (Stable Income Inequality), these lower-than maximum income tax rates were an instrumental factor, together with the other two pillars of Reaganomics [1], in greatly increasing income and wealth inequality, with disastrous consequences for the economy and for the bottom 99%."

    The 30-Year Growth of Income Inequality |
    Stop changing the subject, support the statement that you made.
    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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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Harry Guerrilla View Post
    Stop changing the subject, support the statement that you made.
    I've already supported it from several different sources, here are additional sources:

    "Krugman and journalist Timothy Noah have referred to this period after 1979 as the “Great Divergence.”[18] During this time income became more unequal almost continuously except during the recessions in 1990-91 and 2001.[26] One difference in the income of high-income taxpayers between the two eras is that labor income has become a larger share of their income while capital income (interest, dividends, income from rent) a much smaller one.[27]"

    "In 2011 the Congressional Budget Office (CBO) did a study of the change in income inequality in America ("Trends in the Distribution of Household Income Between 1979 and 2007"). (It chose the two years because they both preceded an economic recession and so both were periods of "similar overall economic activity"

    "The study found two factors accounting for the changing distribution of market (before tax) income: an increase in the concentration of each source of income (different sources being: labor income, business income, capital gains, interest, etc.); and a shift in the share of income in the economy coming from sources that disproportionately go to top earners. Between 1979 and 2007 more income came from capital gains and business income, and less from labor (cash wages, salaries, employer-paid health insurance premiums, etc.)."

    "A study by Thomas Piketty and Emmanuel Saez found that
    Large reductions in tax progressivity since the 1960s took place primarily during two periods: the Reagan presidency in the 1980s and the Bush administration in the early 2000s.[125]
    During Republican President Ronald Reagan's tenure in office the top marginal income tax rate was reduced from over 70 to 28 percent, high top marginal rates like 70% being the sort in place during much of the period of great income equality following the “Great Compression”.[124] Progressivity of income tax and the (effective) rate at which income is taxed can have an effect on equality."

    Income inequality in the United States - Wikipedia, the free encyclopedia

    "The Internal Revenue Service issues an annual report on the 400 highest income-tax payers. In 1961, there were 398 taxpayers who made $1 million or more, so I compared their income tax burdens from that year to 2007.

    Despite skyrocketing incomes, the federal tax burden on the richest 400 has been slashed, thanks to a variety of loopholes, allowable deductions and other tools. The actual share of their income paid in taxes, according to the IRS, is 16.6 percent. Adding payroll taxes barely nudges that number.

    Compare that to the vast majority of Americans, whose share of their income going to federal taxes increased from 13.1 percent in 1961 to 22.5 percent in 2007.

    9 Things The Rich Don't Want You To Know About Taxes
    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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