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Thread: Health Bill Extends Wage Tax to Investments

  1. #41
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    Re: Health Bill Extends Wage Tax to Investments

    Quote Originally Posted by NoJingoLingo View Post
    That's a whole lot of babble. You have no evidence that it wouldn't have a positive effect. We did have prosperity, and when you take into account the deficit and the increase in wealth for the top tax rate it doesn't take a genius to figure out where all the money went. Therefore taxing their good fortune gained at the expense of the majority of the country seems reasonable to me. I understand that the Reaganites can't stand to hear such things. We've all listened to your ilk too long and now look at the mess.
    He's basically saying that when the tax rate was at 90% or whatever, that way less people made enough to pay such a tax.
    Now if the rate is at 40% and a lot of people make enough to pay it then your going to have a net increase in tax revenue because you haven't priced every one out.

    Making more money is not based on pure luck.
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    Re: Health Bill Extends Wage Tax to Investments

    Quote Originally Posted by NoJingoLingo View Post
    That's a whole lot of babble. You have no evidence that it wouldn't have a positive effect.
    I'm not the one claiming it would. See, if you're going to make a claim, you should back it up with evidence.

    We did have prosperity, and when you take into account the deficit and the increase in wealth for the top tax rate it doesn't take a genius to figure out where all the money went.
    I'm sorry that you don't understand statistics.

    Therefore taxing their good fortune gained at the expense of the majority of the country seems reasonable to me.
    The share of federal income tax borne by the richest 1% has long outpaced their share of federal income.

    The Tax Foundation - Summary of Latest Federal Individual Income Tax Data

    I understand that the Reaganites can't stand to hear such things.
    The income disparity between the top 1% and the rest of the country grew faster under Clinton than under any other president.

    We've all listened to your ilk too long and now look at the mess.
    More expert statistical analysis.
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    Re: Health Bill Extends Wage Tax to Investments

    Quote Originally Posted by Erod View Post
    They explain it in the article. It changes the dynamics of competition for them while raising their costs.

    One thing is certain: they will be laying off a lot of people, as will many companies.

    Hello 15 percent unemployment?
    The sky is falling, the sky is falling..... once again we respond to headlines without understanding the issue.

    This deals with a potential loss of government subsidies to large companies with defined benefit pension plans that already had, at the time of enactment of Medicare D, rich prescription programs for their retired employees. These subsidies were to incent these large organizations to keep their plans.

    The government is now proposing to tax this subsidies. This could result in a one-time, non-cash adjustment to the companies deferred tax liability.

    Curious why the Conservs would worry about government subsidies and would see taxing those subsidies as logical, especially since we are 5 years into this plan and we are literally subsidizing the "haves" here.

    No one should be shedding crocodile tears over this one.

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    Re: Health Bill Extends Wage Tax to Investments

    Quote Originally Posted by disneydude View Post
    Sorry Navy....Obama and the Democrats are going to protect your ass despite every effort from you Republicans to prevent it.
    This time around, your precious corporate insurance companies are going to lose and the American people are going to win this round.
    This is not a loss for insurance either. They are going to do quite well in this new structure. This is really a loss for America. We could have had real health reform and all we got was very, very ugly politics. Everyone in Washington should be ashamed at this outcome. And the American electorate should be ashamed for not really understanding the issues and substituting noise and shouting for intelligent debate.
    Last edited by upsideguy; 03-21-10 at 02:15 AM.

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    Re: Health Bill Extends Wage Tax to Investments

    I would definetly consider a VAT or some pigovian type taxes (maybe on unhealthly foods, liquor, tabacco, optional medical procedures like some plastic surgery, or gasoline) instead of an investment tax. However, in doing so I think you will come up to some pretty harsh political opposition. For example, the excise tax I feel would be one of the better ways to fund this bill, however it has been scaled back so much I feel it may now be largely ineffective.

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    Re: Health Bill Extends Wage Tax to Investments

    Quote Originally Posted by NoJingoLingo View Post
    That's a whole lot of babble. You have no evidence that it wouldn't have a positive effect. We did have prosperity, and when you take into account the deficit and the increase in wealth for the top tax rate it doesn't take a genius to figure out where all the money went. Therefore taxing their good fortune gained at the expense of the majority of the country seems reasonable to me. I understand that the Reaganites can't stand to hear such things. We've all listened to your ilk too long and now look at the mess.
    How exactly are all these rich people getting rich at the expense of others. Is it by working hard and making good choices in thier life. My father has done very well in life by going to school on scholarships and than worked hard and making lots of money. There is nothing that kept other people from doing the same thing in life other than thier lazyness or bad decisions. Why should people who have done well for themselves have to pay more than thier fair share. Why in the world should the US gov punish people for being succsesfull.
    President Franklin Roosevelt eulogized a fallen American Soldier by saying, “He stands in the unbroken line of patriots who have dared to die [that] freedom might live, and grow, and increase its blessings. Freedom lives, and through it he lives--in a way that humbles the undertakings of most men."

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    Re: Health Bill Extends Wage Tax to Investments

    Quote Originally Posted by upsideguy View Post
    This is not a loss for insurance either. They are going to do quite well in this new structure. This is really a loss for America. We could have had real health reform and all we got was very, very ugly politics. Everyone in Washington should be ashamed at this outcome. And the American electorate should be ashamed for not really understanding the issues and substituting noise and shouting for intelligent debate.
    I agree that this is not what is should be. But unfortunately with the party of no and the bluedog Democrats fighting real reform, this is the best that we can get FOR NOW.
    This is just the starting point.
    <font size=5><b>Its been several weeks since the Vegas shooting.  Its it still "Too Early" or can we start having the conversation about finally doing something about these mass shootings???​</b></font>

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    Re: Health Bill Extends Wage Tax to Investments

    Quote Originally Posted by braindrain View Post
    How exactly are all these rich people getting rich at the expense of others. Is it by working hard and making good choices in thier life. My father has done very well in life by going to school on scholarships and than worked hard and making lots of money. There is nothing that kept other people from doing the same thing in life other than thier lazyness or bad decisions. Why should people who have done well for themselves have to pay more than thier fair share. Why in the world should the US gov punish people for being succsesfull.
    The left is so jealous of people that worked hard all their life and became wealthy............They are lawys whinning about that and want their money...I just hope the wealthy tell them to kiss their ass...........
    "God Bless Our Troops in Harms Way."

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    Re: Health Bill Extends Wage Tax to Investments

    Quote Originally Posted by Harry Guerrilla View Post
    He's basically saying that when the tax rate was at 90% or whatever, that way less people made enough to pay such a tax.
    How many people make enough to pay a particular tax rate is irrelevant to the tax rate. The rate is what it is and if you make enough, you pay at that rate.
    Now if the rate is at 40% and a lot of people make enough to pay it then your going to have a net increase in tax revenue because you haven't priced every one out.
    I think you need to take another look at your logic.

    Making more money is not based on pure luck.
    You're right, even though that has nothing to do with what the tax rate is or should be.

    Quote Originally Posted by RightinNYC View Post
    I'm not the one claiming it would. See, if you're going to make a claim, you should back it up with evidence.
    How about math. If you make 500 million a year and are taxed at 35% would you pay more or less tax if the rate was 70%?

    I'm sorry that you don't understand statistics.
    I'm sorry that instead of a rebuttal of substance you chose to dodge.

    The share of federal income tax borne by the richest 1% has long outpaced their share of federal income.
    Says you, a Reaganite.
    From your link:

    "In 2007, the top 1 percent of tax returns paid 40.4 percent of all federal individual income taxes and earned 22.8 percent of adjusted gross income."

    2007 total net worth of top 1% = 34.6% the next 19% = 50.5% and the rest - 80% = 15%

    2007 financial wealth of the top 1%= 42.7% the next 19% = 50.3% and the rest - 80% = 7.0%

    Who Rules America: Wealth, Income, and Power

    I happen to disagree with you.

    The income disparity between the top 1% and the rest of the country grew faster under Clinton than under any other president.
    We were and still are operating under Reaganomics.

    More expert statistical analysis.
    Thanks you. I'll take that as an 'I have no real rebuttal'.

    Quote Originally Posted by braindrain View Post
    How exactly are all these rich people getting rich at the expense of others. Is it by working hard and making good choices in thier life. My father has done very well in life by going to school on scholarships and than worked hard and making lots of money. There is nothing that kept other people from doing the same thing in life other than thier lazyness or bad decisions. Why should people who have done well for themselves have to pay more than thier fair share. Why in the world should the US gov punish people for being succsesfull.
    Why don't you also use the Craig T. Nelson school of thought while you're telling us how your Dad got scholarships... The quote goes like this:

    "I've been on food stamps and welfare. Anybody help me out? No. No. They gave me hope, and they gave me encouragement, and they gave me a vision. That came from my education." -Craig T. Nelson.

  10. #50
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    Re: Health Bill Extends Wage Tax to Investments

    Quote Originally Posted by NoJingoLingo View Post
    How many people make enough to pay a particular tax rate is irrelevant to the tax rate. The rate is what it is and if you make enough, you pay at that rate.
    It is the most relevant part.
    If you have a 90% tax at X dollars, then people are going to drop out of that fast.
    They will go to the minimum threshold to avoid it.

    Now if it's 40% or so, more people won't be against paying that as much as they would 90%.

    Quote Originally Posted by NoJingoLingo View Post
    You're right, even though that has nothing to do with what the tax rate is or should be.
    You were using loaded language.
    I hate when people describe wealthy individuals as "fortunate."
    It implies that they didn't earn it.
    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.
    —Adam Shepard

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