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Thread: The 1% will own more than the 99% by 2016, report says

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JasperL View Post
    OK, so if the law changes and taxpayers have to pay $160 billion more in federal income taxes the next year, that is NOT a tax increase!

    That's the inflation adjusted estimate of TEFRA - a tax increase of about 1% of GDP per year.
    The tax rates were cut and what you got was an increase in revenue as result of closing loopholes on those evil rich people. Isn't that what you wanted? There was no tax increase as the tax rates were reduced

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Conservative View Post
    The tax rates were cut and what you got was an increase in revenue as result of closing loopholes on those evil rich people. Isn't that what you wanted? There was no tax increase as the tax rates were reduced
    Loopholes were closed on the evil middle class as well.
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JasperL View Post
    He also raised income taxes - many times. And payroll taxes.
    what counts is what were the rates when Reagan started his administration

    and what were the rates when Reagan left office

    want to tell us?



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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by TurtleDude View Post
    what counts is what were the rates when Reagan started his administration

    and what were the rates when Reagan left office

    want to tell us?
    I'll let you answer your own question, but he did lower rates, deficits went up and the debt nearly tripled. I've never argued about any of that.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Conservative View Post
    The tax rates were cut and what you got was an increase in revenue as result of closing loopholes on those evil rich people. Isn't that what you wanted? There was no tax increase as the tax rates were reduced
    I don't know about you, but what most people care about is how much in taxes they pay. And if on the same income, the amount of taxes they have to pay goes UP, that's commonly referred to as a 'tax increase.' Most people don't care all that much WHY - they just know they had to send in more money.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JasperL View Post
    I'll let you answer your own question, but he did lower rates, deficits went up and the debt nearly tripled. I've never argued about any of that.
    many of those who voted for Reagan (I did not in 80-I was part of the Clark campaign) did so because they were tired of the confiscatory tax rates



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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by SlevinKelevra View Post
    The faster they can get to 100% , the sooner it will start trickling down.
    To everyone but you, they don't like you.
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by TurtleDude View Post
    many of those who voted for Reagan (I did not in 80-I was part of the Clark campaign) did so because they were tired of the confiscatory tax rates
    Not only the tax rates, but we have to remember the times...We measured things in what they called a 'misery index'... Americans were told much like today, that this was as good as we could do, and that America was no longer great...Houses, and auto's were sold with 18% interest rates...People didn't have the money to get by, and the American dream was disappearing...And Reagan not only restored the economy, but gave American's a sense that there was a path back to the dream...Carter was a disaster, just as Obama is today, and instead of recognizing the pattern with progressive ideas and ideals here we keep repeating this destructive ideology...
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    Re: The 1% will own more than the 99% by 2016, report says

    Keep being convinced that killing your own is a way out of poverty and the 1% will have more and more. Economic inequality can only be sustained if the "have nots" are kept at a manageable level.

    If you don't believe this than you are ignorant of economics.
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Sietske22 View Post
    I personally don't care about the dynamics of wealthy distribution, as long as all citizens get their basic needs taken care of.

    If it wasn't for our hyper-consumerist, greedy, hyper-materialistic society, folks would be much more content with what they had and wouldn't give a **** what rich people possess.
    Really? You don't? How in the world can anyone see information like what one reads in the OP and not be moved enough to see the bigger picture is beyond me.

    1% ( a small sliver of people.) owning 99% (1 more percent and they would practically own you and all of your belongings too, in a sense.) of the wealth. And you are not moved by that huh? Amazing!

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