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Census finds record gap between rich and poor

donc said:
That brings to mind the comment made by Warren Buffet when he said that his secretary, who earned $60,000, was taxed at 30 per cent while he was taxed at 17.7 per cent on $46 million he earned in salary in 2007.I guess he could have paid himself a pretty good bonus if he wanted to though.
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IF it was up to the ubercons here, his secretary would have gotten paid far less....after all, there are lots of unemployed people out there who would jump at a chance to be his secretary for only $50K...
 
UtahBill said:
IF it was up to the ubercons here, his secretary would have gotten paid far less....after all, there are lots of unemployed people out there who would jump at a chance to be his secretary for only $50K...
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I think a few years of the Eisenhower tax rate of 91% would knock this debt down to a manageable number post-haste. :mrgreen:
 
donc said:
I think a few years of the Eisenhower tax rate of 91% would knock this debt down to a manageable number post-haste. :mrgreen:
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Now THAT would cause some of our rich to have heart attacks, strokes, etc. and the timing for that is good, as this is probably the last year with no inheritance tax...:2razz:
 
UtahBill said:
Now THAT would cause some of our rich to have heart attacks, strokes, etc. and the timing for that is good, as this is probably the last year with no inheritance tax...:2razz:
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Heart attacks and strokes eh?…might be a good time to get into some med stocks them.









Do turtles have strokes and heart attacks?:confused:
 
Moot said:
Somebodies got to pay for that stupid war that Bush got us into. Why do people like you think the elite can take us into a war and not help pay for it? Why should I pay for that stupid war when I was adamently against it? I'm not that rich that I can afford to pay for the elites dirty little war.
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are you following OBAMA'S WAR which he ESCALATED?

have you heard what BOB WOODWARD has to say?

But you were probably all for it...
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with all due respect, i find your presumption crass

Unearned income? So you're admitting the wealthy don't "earn" their income?
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someone earned it, and whomever he or she gave it to, if it is invested, has every right to try to earn a return

Well, since the rich people didn't make the land, then they should pay for it. Why should they have land for free?
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pardon?

You're like the little man who lives in a trailer eating his pork and beans complaining the super rich aren't rich enough.
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whoa, someone's starting to lose it

oh, well

party on---34 days...
 
I'm still waiting for evidence that tax cuts actually lead to job creation.

Tax rate:

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Unemployment rate:

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I'm just not seeing it.

In fact, if paying higher taxes is so bad, why does it correspond with the lowest unemployment rates?
 
TurtleDude said:
your idiotic claim that the rich got us into the war is just that-idiotic. last i checked it was supported by a majority of congress including congress people who claim ot represent the poor and lower middle classes.
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Last I checked, congress didn't declare war and it was Bush who went begging to the UN and on the TV to convince the public to go to war. But I bet you voted for Bush, so why don't you pay for his dirtly little war instead forcing others to pay for it?


Land for free-WHAT MORONIC BS--estate taxes don't deal just with land-this has to be the stupidest thing I have seen on this board

you t hink an ESTATE TAX IS A TAX ON LAND OWNERSHIP
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Yes, estate means property and property for the elite means land ownership and lots of it. Obviously, you don't have an estate and yet you are worried the rich might have to pay a tax on their estate. How MORONIC is that? Very.

HOw do you know what I am worth-I paid over 300K in federal taxes last year
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Hard to believe you pay that much in taxes especially considering your level of discussion and the amount of time you spend on this forum that you are even working let alone make more than minimum wage. Sorry, but I think you are full of beans, Mr. Turtledude.
 
CriticalThought said:
I'm still waiting for evidence that tax cuts actually lead to job creation.

Tax rate:

Tax+Rate.jpg


Unemployment rate:

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I'm just not seeing it.
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I hope your not holding your breath waiting for that one.
 
donc said:
I hope your not holding your breath waiting for that one.
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Okay then. Well can you tell me what policy in the late 70s and early 80s lead to unemployment going higher than average for the first time in 4 decades? Who was in charge then?
 
CriticalThought said:
Joe Smith needs a job. Joe is qualified to work in manufacturing but Joe's job was shipped overseas to China and the cost to ship the manufacturing equipment there and invest in a new plant was paid for by a tax cut.
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gosh, sometimes the govt is just generous to a fault with ITS money, huh?
 
CriticalThought said:
I'm still waiting for evidence that tax cuts actually lead to job creation.

Tax rate:

Tax+Rate.jpg


Unemployment rate:

graphic-2.gif


I'm just not seeing it.

In fact, if paying higher taxes is so bad, why does it correspond with the lowest unemployment rates?
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Well, they could create a few jobs on wall street.
 
CriticalThought said:
Okay then. Well can you tell me what policy in the late 70s and early 80s lead to unemployment going higher than average for the first time in 4 decades? Who was in charge then?
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I give tell me. ;)
 
apdst said:
Unemployment is so high, because of the uncertainty being caused by government legislation and the threat of legislation. Make corporations feel comfortable that they're not going to get hosed with more taxes and bull**** healthcare bills and cap-n-trade and you'll see things start to improve. The unemployment rate has been caused by the government's policies killing jobs.
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You have a short memory. I had to stop listening to the news in 2008 because it was nothing but talk of economic disaster. People were even talking about another depression. The government legislation at the time was all about big business, no regulation and tax breaks to wall street. That was the cause of the recession and the killing of jobs. NOT any government policy in the last two years.

I think business brought a lot of this on us. Not all but they deserve a fair amount. Why did GM build huge SUV's instead of cars it could sell. Why was Enron allowed to steal billions and hand it to the executives. Why do taxpayers pay for Exxon to look for oil when they post tens of billions of profits each quarter. Why do we pay to support corn when all the money goes to big companies rather than farmers. How can you justify paying CEO's hundreds of millions when they drive a company into the ground when they pay workings less and less. Its wrong for business, its wrong for the country. . hell its just wrong.
 
donc said:
Heart attacks and strokes eh?…might be a good time to get into some med stocks them.

Do turtles have strokes and heart attacks?:confused:
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and nursing homes, for all us baby boomers...I was born in 1946, the first year for boomers...
You younger folk keep paying into social security and medicare, you hear? We boomers appreciate it....:2razz:
 
The Prof said:
gosh, sometimes the govt is just generous to a fault with ITS money, huh?
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If everyone was fair and responsible with their own money then what would be the point of even having a government?
 
the govt is fair and responsible?

LOL!
 
why did the party punt?
 
Moot said:
Does a $700 billion bailout for failing look like punishment to you? Does earning 400x the average worker look like punishment to you? Oh boo hoo those who make obscene amounts of money should pay the same percentage of their income as does the average worker.
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Conflating CEO's with the millions of people earning over $250k doesn't help your argument.

Moot said:
Well, no one was forcing the plantation owners to have slaves, either. And yet the slaves labor must have been worth something if it helped to pay for all those fancy plantation homes and allow their owners to live like mini kings. I know, you long for the good ol days of slave and mastah.
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What are you even talking about?

You really, seriously, don't understand the difference between slavery and the free market?

Moot said:
Somebodies got to pay for that stupid war that Bush got us into. Why do people like you think the elite can take us into a war and not help pay for it?
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Yes, every person earning over $250k just FORCED us into that war.

Why should I pay for that stupid war when I was adamently against it?
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I'm opposed to extending unemployment, so I can just take that out of my tax bill, right?

That's not how taxes work.
No they don't. I pay 30% of my income in taxes. The wealthy only pay 15% on theirs.
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Again, why do you keep conflating billionaires who earn their income via capital gains with all people earning over $250k?

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

The average person earning more than $250k pays a much higher percentage of his income in federal tax than the average person earning less.

Unearned income? So you're admitting the wealthy don't "earn" their income? On that I would agree since I earn my income, the wealthy make money off of me.
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No, he was using a technical economic term, something that appears to be wasted on this thread.

Well, since the rich people didn't make the land, then they should pay for it. Why should they have land for free?
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lolllll

If you don't even know what ballpark the estate tax is in, you shouldn't try to talk about what we should do with it.


CriticalThought said:
Everyone from the $66,100 on up pays approximately 30% on income taxes. The very wealthiest individuals in our country pay less than 20%.
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Yea, and if we were talking about creating a special tax bracket for those earning $50m+, then that would be relevant. Again, the average person earning $250k is paying a much higher percentage of his income in taxes than someone earning $66k.
 
UtahBill said:
and nursing homes, for all us baby boomers...I was born in 1946, the first year for boomers...
You younger folk keep paying into social security and medicare, you hear? We boomers appreciate it....:2razz:
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That’s right bro and boost he age of retirement up to …say, at least seventy(after I retire of course). Keep the ole nose to the grindstone.:rock
 
RightinNYC said:
Yea, and if we were talking about creating a special tax bracket for those earning $50m+, then that would be relevant. Again, the average person earning $250k is paying a much higher percentage of his income in taxes than someone earning $66k.
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Um...no they aren't. 66K is 30% and 250K is 32%.

http://www.ctj.org/pdf/taxday2009.pdf
 
CriticalThought said:
I'm still waiting for evidence that tax cuts actually lead to job creation.

Tax rate:

Tax+Rate.jpg


Unemployment rate:

graphic-2.gif


I'm just not seeing it.

In fact, if paying higher taxes is so bad, why does it correspond with the lowest unemployment rates?
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The way I see it the big drop in tax rates in 1926 to 1931 looks like it caused the massive unemployment of 1928. When taxes went back up to historic rates in the late 30's and through 1976 it looks like unemployment was around 3%. Then when the taxes rates go down again unemployment went up.

You were trying to prove that higher taxes cause low unemployment right. Because thats how I read the chats.

Im not for raising taxes. Thats what your chart appears to prove though.
 
UtahBill said:
Pork and beans, I love it. but it gives me really bad gas.....
between that and the propane leaks, it is no wonder so many of those trailers burn to the ground...
One of my siblings lives in one....
As poor as he is, he still pays a higher percentage on his income than the rich who don't produce anything, just live on investment income.
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There's always BEANO. LOL
 
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