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Thread: More Democrats break with Obama on tax cuts

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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by pbrauer View Post
    Baloney! The rich keep getting richer and pay less taxes. The super rich pay about 17% of their income in taxes. Many of them earn their billions on Wall Street which produces not a G-D thing. It's casino gambling at its worst.
    You obviously don't understand the function of Wall Street, investments, or anything along these lines.

    Why do you persist in posting on a subject you clearly know nothing about?

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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by Troubadour View Post
    Non sequiturs aside, trickle-down economics is the most ludicrous self-justification myth of the elite since racial hierarchy.
    Years ago a political cartoon showed a donkey being fed hay by a rich plutocrat and a ragged looking tax payer at the other end holding a bucket that said Trickle down.

    ricksfolly

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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by ricksfolly View Post
    Years ago a political cartoon showed a donkey being fed hay by a rich plutocrat and a ragged looking tax payer at the other end holding a bucket that said Trickle down.

    ricksfolly
    we know well that punishing the rich or limiting their success does nothing to make the untalented or the un productive more self sufficient



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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by Grant View Post
    You obviously don't understand the function of Wall Street, investments, or anything along these lines.

    Why do you persist in posting on a subject you clearly know nothing about?
    OK, I'll bite, what's the function hedge funds and various derivatives that are traded on WS? What's their value in regards to the economy?

    Too Much Risk: $1.2 Quadrillion Derivatives Market Dwarfs the World's GDP - DailyFinance


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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by pbrauer View Post
    OK, I'll bite, what's the function hedge funds and various derivatives that are traded on WS? What's their value in regards to the economy?

    Too Much Risk: $1.2 Quadrillion Derivatives Market Dwarfs the World's GDP - DailyFinance
    whats the value of unions to the economy or plaintiff's lawyers or welfare recipients?



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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by TurtleDude View Post
    whats the value of unions to the economy or plaintiff's lawyers or welfare recipients?
    I wasn't speaking about them, I was addressing Wall Street as they have the most effect on the economy. Highly leveraged paper with dubious worth.


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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by Boo Radley View Post
    When would be the right time to raise taxes? There is no evidence that not raising them will help jobs. In fact, someone has a link to a study showing that it wouldn't. But not taxing will add to the debt. So, logically, based on this, what should we do? How much do we really care about the deficit?
    How come we never hear you talking about spending cuts?
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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by ricksfolly View Post
    Years ago a political cartoon showed a donkey being fed hay by a rich plutocrat and a ragged looking tax payer at the other end holding a bucket that said Trickle down.

    ricksfolly

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    Last edited by zimmer; 10-18-10 at 08:24 AM.
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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by pbrauer View Post
    I wasn't speaking about them
    No, ofcourse not. Why talk about the true drains on society?


    I was addressing Wall Street as they have the most effect on the economy.
    Is that so? Remember this?

    WASHINGTON (AP) -- Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it's simply somebody else's problem.

    About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization.

    Nearly half of US households escape fed income tax - Yahoo! Finance
    Now follow along here....If taxes on the top say 10% of income earners are what you say drives the economy in this country, and you want to raise their rates, heck I've seen credible liberals say to 90% or higher, then how is it that 47% of people not paying anything is acceptable to you? Shouldn't everyone pay?

    Highly leveraged paper with dubious worth.
    First you have to understand what you are talking about. That highly leveraged paper as you call it, was in response to liberals putting the CRA on steroids then threatening regulators in congress for ringing the warning bell about Fannie, and Freddie. Remember this?



    Now you can argue that it is all the banks fault, and I would say that an era of abandon did rule in the 90s and early to mid 2000s, but it wasn't without politicians, mostly liberal, egging them on so that they could have their vision of everyone owning a house, forget that they couldn't afford the house they wanted. Now you want to turn and blame the banks for developing a way to hedge their losses that they knew was going to be a result of this unbridled buying? That is really jaw dropping.

    Look, you probably don't even realize that it is your money, and my money through savings that makes up the lion share of the capital needed for banks to make loans. That worthless paper as you put it allows banks to lend the money needed to buy things. But you seem to just want big daddy government to take care of everyone. Tell me, where will the government get the money as the rich flee?


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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by j-mac View Post
    And the simple question would be how much of a tax increase? On whom? and for how long?


    j-mac
    How much is always up for debate. But so far we're only talkng about a return to where it was, and the economy did quite well where it was. I don't object to across the board return, but just on those above 250,000 would be just as fine with me.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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