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Thread: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

  1. #331
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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by Hatuey View Post
    Oy vey... If everyone is rich, who works for corporations?
    The government

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    I'd actually be fine with wealth redistribution.

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by avery45 View Post
    I was expecting the Illuminati or Bildeburg. Corporations wish everyone was rich, then everyone could afford their product.
    Wishing they were and operating in such a way as to promote that wish are two different things.
    "Half full or half empty doesn't matter. What matters is, you've only got half a glass...so what are you going to do about it?" - Me
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  4. #334
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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by Grant View Post
    If the rich "have a lower propensity to spend" shouldn't that send a message to the poor?
    Most rich people far more than poor people do, but they spend a smaller percent of their income, thus technically the full statement should be "they have a lower propensity to spend the marginal dollar".

    The message sent to the poor is that the rich in America have more money than they can even spend - way to rub it in.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by ttwtt78640 View Post
    The idea that taxation rates should be used to "fix" income inequality, touted by those like Sanders, is akin to establishing a national maximum wage.
    Something of that nature, yes. Just not that extreme.

    Playing Robin Hood with the tax code to achieve balance between rock/sports stars, those with extremely high incomes, and the average workers will result in more "loopholes" to protect those like HRC.
    So? Something doesn't have to be a perfect system, it just needs to be better than what we already have.

    If such a concept were ever actually proposed as law you can rest assured that it would not include tax code simplification - even Obama dared not alter 98.6% of the "Bush" income tax rates. Trying to finance a nation by taxing only the 1% more will never actually be implemented and everyone, including HRC, knows that.
    I'm not sure what concept you are refering to, but if we eliminated income taxes for the 99%, that in itself would be a huge tax code simplification - effecting 99% of us for the better.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by Grant View Post
    No, the point was that those who become wealthy tend to spend their more wisely and invest more wisely. They know that money is a tool.
    The point you seem to be missing is that the poor don't have any money to spend more wisely or to invest more wisely. If they had "extra" money, then we wouldn't be calling them poor.

    You know why poor people sometimes spend money on tatoos? Because it's the one thing that you can get for a hundred dollars (or less) that you will have for the rest of your life, if a tattoo makes them happy, it's literally the best investment they can make, a lifetime of happyness for less than a paycheck.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    "...[politicians] are increasingly adopting anti-Wall Street rhetoric... [to] appeal to voters’ distrust of the financial sector.

    In recent weeks, [one politician] declared he is "fed up" with Wall Street's antics, [another politician] slammed Goldman Sachs and [yet another politician] derided the banking industry as rife with greed.

    "We have more banks with more concentrated assets in the United States, and the systematic risk is perhaps greater now...." [one politician] told reporters this month.

    The observation from [that politician], .... is not unlike remarks made by from bank basher Sen. Elizabeth Warren (D-Mass), with both politicians noting that the largest financial institutions have grown in size since Congress passed Dodd-Frank....

    "I think Americans are fed up — I am — with Wall Street getting treated specially," said [one politician] "There is nothing too big to fail in my opinion, when it comes to big banks, big corporate entities."....

    [another politician] told Bloomberg TV in March that Goldman Sachs "is one of the biggest banks on Wall Street, and my criticism with Washington is they engage in crony capitalism."

    "They give favors to Wall Street and big businesses,” [that politician] said on Bloomberg TV. .....

    [yet another politician] said on NBC's "Meet The Press" in April that "there's too much greed" on Wall Street."

    "I’ll tell you the problem with Wall Street: it is too much about ‘I gotta make money’,” [that politician] said on NBC."


    original article with the names of the politicians

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by imagep View Post
    Something of that nature, yes. Just not that extreme.



    So? Something doesn't have to be a perfect system, it just needs to be better than what we already have.



    I'm not sure what concept you are refering to, but if we eliminated income taxes for the 99%, that in itself would be a huge tax code simplification - effecting 99% of us for the better.
    What we have now results in the top 10% paying about 71% of the total FIT on about 43% of the total income. Once we define what exactly is a "fair share" then we can talk about tax reform. I fully agree that the first few (lets say $20K to $30K) dollars of annual income should be federal income tax free but after that I would like to see a fixed rate applied to the balance (excess?).

    The idea that two folks working side by side for the same gross income should pay different FIT amounts based on how (or upon who) that income was later spent makes absolutely no sense at all. We managed to create (and still support?) a very regressive SS/Medicare tax (insurance?) system but somehow many insist on having a very much more progressive FIT system - that also makes no sense at all.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by ttwtt78640 View Post
    What we have now results in the top 10% paying about 71% of the total FIT on about 43% of the total income. Once we define what exactly is a "fair share" then we can talk about tax reform.
    Nope. There is no such thing as "fair" in economics. "Fair" is a topic for philosophy. The only thing that matter in economics is having a system that maximizes productivity.


    I fully agree that the first few (lets say $20K to $30K) dollars of annual income should be federal income tax free but after that I would like to see a fixed rate applied to the balance (excess?).
    Why? The mean average amount of value created by the America workers is around $130k. Placing an income tax on any income below that amount is counter productive to any real need for income redistribution (assuming that such need even exists). For that matter, I don't see why we would want to tax people who make over the mean average but less than the amount of value which can be reasonably created by a human being. I would propose a standard per income earner tax deduction of $400k (about where our top tax rate starts now), and as low of a tax as possible on any income above that amount.

    The idea that two folks working side by side for the same gross income should pay different FIT amounts based on how (or upon who) that income was later spent makes absolutely no sense at all.
    I totally agree. That's part of the reason that I suggest we exempt most people and most income from income tax.

    We managed to create (and still support?) a very regressive SS/Medicare tax (insurance?) system but somehow many insist on having a very much more progressive FIT system - that also makes no sense at all.
    I agree. SS/medicare should be paid out of the general fund, and benefits shouldn't be linked to ones income.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  10. #340
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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by Grant View Post
    No, because the bar is always being moved.
    You were probably not here when this started. When I pointed out that the middle class had stagnated and the rich were taking most of the economic growth, some people tried to suggest that the middle class should just work really hard so they can be rich. Now we know that is not a viable solution.

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