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Thread: Obama will not extend Bush tax cuts to wealthy

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by tlmorg02 View Post
    Yes, but those who invest in such means are asking for it to be untouched through tax breaks, if there are no taxes coming from it, and banks are not using the money to loan, then what good is it doing for the economy as a whole, not just for those at the top?
    Very, very little of it if any is "untouched" by taxes. You gotta stop using absolute terms for something which is not absolute. There are a lot of people like you who want their money to be touched even more by taxes but it is not untouched by a longshot. If banks are not loaning now, and they are just in a lot tighter market, then what makes you think they are going to want to loan more if the government threatens to take more money away from them? One of the reasons the stimulus isn't work is because government and the private sector are working against each other. Stop threatening and blaming the rich for everything.
    Last edited by jambalaya; 09-08-10 at 02:33 PM.

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by jambalaya View Post
    Very, very little of it if any is "untouched" by taxes. You gotta stop using absolute terms for something which is not absolute. There is a lot of people like you who want their money to be touched even more by taxes but it is not untouched by a longshot. If banks are not loaning now, and they are just in a lot tighter market, then what makes you think they are going to want to loan more if the government threatens to take more money away from them? One of the reasons the stimulus isn't work is because government and the private sector are working against each other. Stop threatening and blaming the rich for everything.
    I am neither threatening nor blaming them for anything, I am simply saying the easiest way to stimulate the economy is to tax the rich at the levels prior to 2001, when they were still rich by the way, and give credits to those who create jobs, that way they can be rewarded for creating jobs, and the rest of the breaks give to those who will buy more, that is the Middle Class who make-up 98% of the population and can buy more things as a whole. Then the economy moves and jobs are created and the wealthy see more money because more products are being sold.

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by tlmorg02 View Post
    I am sorry, near-slave labor. I get them closer to their $1 per day needed to survive, what a philanthropist I am!
    They wouldn't work there unless it was advantageous to them. The fact is that they are low-skill level and they get paid for low-skill, not very scarce labor.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by phattonez View Post
    They wouldn't work there unless it was advantageous to them. The fact is that they are low-skill level and they get paid for low-skill, not very scarce labor.
    When you open the labor pool to billions of more people, there are not many "scarce" jobs left.

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by tlmorg02 View Post
    When you open the labor pool to billions of more people, there are not many "scarce" jobs left.
    So get a skill.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by tlmorg02 View Post
    I am simply saying the easiest way to stimulate the economy is to...give credits to those who create jobs,
    Tried and failed. Obama proposed this in January and businesses were underwhelmed. You might get an 8-year old to buy cracker jack by putting a prize in the box, but businesses have to make smart decisions. They're not going to hire unless it makes sense to hire for the long term.

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    Re: Obama will not extend Bush tax cuts to wealthy

    What exactly is sweatshop labor? The best job that people can get with the skills that they have. Take away the sweatshops and the people go back to subsistence farming, quite easily the worst form of life possible while still retaining freedom (so slavery is still worse). The sweatshops give people more disposable income. Also note that if one places offers $1 an hour and another offers $2 an hour then everyone would go toward the $2 an hour shop. The fact remains that wages tend toward marginal productivity and so if people aren't making much it's because their labor isn't worth much.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by phattonez View Post
    What exactly is sweatshop labor? The best job that people can get with the skills that they have. Take away the sweatshops and the people go back to subsistence farming, quite easily the worst form of life possible while still retaining freedom (so slavery is still worse). The sweatshops give people more disposable income. Also note that if one places offers $1 an hour and another offers $2 an hour then everyone would go toward the $2 an hour shop. The fact remains that wages tend toward marginal productivity and so if people aren't making much it's because their labor isn't worth much.

    but yet in the US we are forced to pay some brain dead retard $7.25 an hour to ask "do you want fires with that?"

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by tlmorg02 View Post
    What caused this crisis, for the most part, was the packaging of the mortgages, that the banks knew would never fly, into derivatives and onto investors. Once those investors realized they were stuck and the money lost, they whole sale flocked from the market and the Middle Class lost their jobs, which perpetuated the increase in foreclosures, and their 401k's dropped out the bottom so they lost that as well.
    Yep...and not a single note of blame to the idiots that actually bought those properties...irresponsible banking practices, irresponsible purchasing practices...nope. Its all eeeeeevil bankers. They grabbed people off the street and FORCED them to buy homes they couldnt afford, sign mortgages they didnt/wouldnt pay. Shocking.

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    Re: Obama will not extend Bush tax cuts to wealthy

    Well at least now we can wait and see if removing the Tax Cuts will actually help or hinder. If it tends to hinder then I hope Obama has the smarts to put things back the way they were. If it helps then good job Obama.

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