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Thread: Census finds record gap between rich and poor

  1. #1251
    warrior of the wetlands
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by mertex View Post
    As a middle-class person, yes that is true, but if you are wealthy it only means you get more money to "save".

    Give the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it.

    Tax cuts in 2001 and 2003 under President George W. Bush were followed by increases in the saving rate among the rich, according to data from Moody’s Analytics Inc. When taxes were raised under Bill Clinton, the saving rate fell.

    The findings may weaken arguments by Republicans and some Democrats in Congress who say allowing the Bush-era tax cuts for the wealthiest Americans to lapse will prompt them to reduce their spending, harming the economy.

    Rich Americans Save Tax Cuts Instead of Spending, Moody's Says - Bloomberg


    The Bush tax cuts are still in effect. So, I don't know what you mean.

    Tax Cuts for the Middle Class equal Tax Cuts for Rich


    Another Republican/conservative lie. The bail out of the auto industry saved many jobs. Jobs that would have added to the unemployment. The Stimulus also saved many jobs, as well as kept us from going into depression.

    While the ARRA did not achieve its initial goals, many, including President Obama, consider it a major success. It has been credited for the large change in GDP growth that occurred between the first quarter of 2009, when GDP declined at more than a 6% annualized rate, and the second quarter, when GDP was roughly unchanged. More broadly, the Administration and others argue that the ARRA has saved up to 2 million jobs and prevented an economic meltdown similar to the Great Depression.

    Did Stimulus Create Any Jobs? - Forbes.com


    How did I miss it? It was predicted and is considered a normal occurrence for mid-term. That your party got the house is admirable, but whether that is a good thing for the country is yet to be seen. People's votes are mostly a reaction to all the lies the Republicans have been spreading and continue to spread. They have found a way to gain votes and that is through lying and it seems to be working well. However, the truth is bound to come out sooner or later, and then what will your party have?


    Perhaps you need to remove your tin-foil hat, it seems to be cutting the blood circulation and impairing your thinking. Reps/cons want Obama to fix in 2 years what took Bush 8 years to accomplish. Perhaps if Bush hadn't committed us to a useless war where we have wasted so much money, our economy wouldn't be in such bad shape. But, Reps/cons are so sure that now that they have gained control of the House, they are going to make everything rosy - I can hardly wait. Let's see how much of what they promised they are able to deliver.
    giving the government more of the wealthy's money, history will suggest that the government will squander it/

    the average voter will feel that runaway spending is not a problem because only the rich will face tax increases to pay for the spending and thus the average voter will continue to support those politicians who pander to them and demand that only the rich pay more.

    of course in the end the rich will start doing stuff that will hurt people like you who whine that they don't pay enough taxes



  2. #1252
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by mertex View Post
    You think tax-cuts pay for themselves?
    Contrary to popular belief, discretionary spending on social entitlement programs such as health care, unemployment benefits and Social Security is nowhere close to the leading cause of the exploding deficits over this past decade. The true culprit is the Bush tax cuts , which accounted for 48 percent of the deficit increase;
    TheDartmouth.com | Deficit Danger


    Besides, there are good reasons to let the tax cuts for the wealthy expire.

    President Bush and a Republican-controlled Congress passed a series of massive tax cuts from 2001 to 2006. Their cuts lowered everyone’s taxes, but they were skewed heavily to the wealthy. More than half of the total benefit from the Bush tax cuts this year alone will accrue solely to the richest 5 percent of Americans while the middle 20 percent of Americans will reap only 7 percent of the benefit.

    All of these tax cuts were passed with a “sunset” provision that will cause them to expire at the end of 2010. Virtually everyone in Congress agrees with the Obama administration that we should make permanent all of the reduced taxes for those who make less than $250,000—that’s 98 percent of Americans. The disagreement is limited to those cuts that affect the richest 2 percent of Americans—with conservatives demanding that the wealthiest Americans continue to benefit from the Bush administration’s largess.

    There are lots of good reasons to let the Bush tax cuts for the rich expire. Here are just three.

    1. Billions of dollars in tax breaks for the wealthy is just about the least efficient use of that money
    2.The Bush tax cuts didn’t deliver what they promised
    3.The tax cuts for nearly all Americans and American small businesses would stay in place
    ttp://www.americanprogress.org/issues/2010/07/let_cuts_expire.html



    And coddling the rich buys the Reps votes from the wealthy and all the loonies who are still under the impression that some of their money is going to trickle down to them. George H.W.Bush himself called it voodoo economics!


    It will help pay off a chunk as opposed to adding:

    GOP plan to extend tax cuts for rich adds $36 billion to deficit, panel finds
    I cannot reasons with people who think tax cuts cost money. Its spending that costs money. and tax hikes cost we who pay most of the taxes money.



  3. #1253
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by mertex View Post
    That is the lamest reason I've ever heard about why a wealthy person as Buffett would complain about paying lower taxes!

    "Because he wants to ingratiate himself with people who don't want the rich to pay lower taxes?"

    Ha,ha, that is such a stupid comment, I can't believe anyone would even come up with something like that!
    what is stupid is post demonstrating who has no clue and no proper response. Buffett structures his compensation to pay as little tax as possible (tell me what other executive running an operation as big as his only has a salary of 100K? Of course I doubt you know that answer but the average executive in his positon is making at least 5 million a year in salary) and then whines that his compensation comes from sources that are taxed at lower rates than salary income.

    of course what you fail to understand is that Buffett pays the top rates on salary income, the top rates on CG income and the top rates on dividend income. But because he structures his compensation to avoid salary as income, his overall rate on his total income is somewhat lower than many people who have mainly salary income

    so tell me-why would someone do that and then complain about it?



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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    Whether or not tax increases to the rich increase govt. revenue or not remains to be seen. regardless it is wrong to panalize one group of people over another and there is no evidence that tax increases will reduce the deficit because Congress continues to spend all the money they get. If it is 36 billion dollars great, you just lowered the deficit from 1.3 trillion to 1.264 trillion and you penalized job producers. That is liberal logic?
    its envy and spite that motivates the soak the rich mentality that she spews.



  5. #1255
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    Yes, it sure is and reports ONE PART OF THE DEBT not the TOTAL DEBT which went up. Looks to me like you are the one losing. Let's see if you have the maturity to admit when wrong?
    No, you lost the debate and you don't have decency to admit it. Now you're just making a fool of yourself so I think it best we end our discussion.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Moot View Post
    No, you lost the debate and you don't have decency to admit it. Now you're just making a fool of yourself so I think it best we end our discussion.
    show me the score sheet proving he lost the debate. Awarding yourself a win doesn't count. I think he won actually



  7. #1257
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by TurtleDude View Post
    show me the score sheet proving he lost the debate. Awarding yourself a win doesn't count. I think he won actually
    Let me know if you see the score sheet.

    The Debt to the Penny and Who Holds It
    ( Debt Held by the Public vs. Intragovernmental Holdings )

    11/04/2010

    Current Debt Held by the Public 9,135,679,189,836.64
    Intragovernmental Holdings 4,587,760,478,603.54

    Total Public Debt Outstanding 13,723,439,668,440.18

    Only in the Liberal world can you steal from one account, put it in another, ignore the account you stole it from and call it a budget surplus
    Last edited by Conservative; 11-07-10 at 10:50 PM. Reason: Added Total Public Debt

  8. #1258
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    Let me know if you see the score sheet.

    The Debt to the Penny and Who Holds It
    ( Debt Held by the Public vs. Intragovernmental Holdings )

    11/04/2010

    Current Debt Held by the Public 9,135,679,189,836.64
    Intragovernmental Holdings 4,587,760,478,603.54

    Total Public Debt Outstanding 13,723,439,668,440.18

    Only in the Liberal world can you steal from one account, put it in another, ignore the account you stole it from and call it a budget surplus
    moot was permanently disqualified from the contest when she claimed that the rich should pay all the estate tax since they owned all the land or something similar about a month or so ago

    its like entering stadium court at Wimbledon carrying a hockey stick



  9. #1259
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    Whether or not tax increases to the rich increase govt. revenue or not remains to be seen. regardless it is wrong to panalize one group of people over another and there is no evidence that tax increases will reduce the deficit because Congress continues to spend all the money they get.
    The folks in Washington are playing a political game, they don't care about what's "better" for the country dear.

    I'd rather have the money go towards improving the country than given to the undeserving wealthy in the form of tax cuts. Tax cuts are spending and will add to the deficit. When you have more money going out than coming in it's called "spending".

  10. #1260
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by TurtleDude View Post
    moot was permanently disqualified from the contest when she claimed that the rich should pay all the estate tax since they owned all the land or something similar about a month or so ago

    its like entering stadium court at Wimbledon carrying a hockey stick
    Moot is a she?

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