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Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

Redress said:
Or he feels that the wealthier people are hurt less by higher taxes. Dishonest spin is still dishonest.
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That is class envy and wrong. Why do you care how much someone else makes? Do you understand the principles upon which this country was built? I really don't care how much you make but apparently you care how much I make, there in lies the difference. More money gives me more control, less money gives a bureaucrat control.
 
pbrauer said:
What does the very rich produce other than an unstable ecomomy when they get huge tax breaks. They gamble it on WS.
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Why do you care what people do with their money? It is theirs, not yours! Unless they bury the money in the back yard any increase in income helps the economy.
 
Redress said:
Depends on who they are. Some produce quite a bit, some not so much. Going down this road only gives credence to his weak argument.
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Why don't you tell me how the rich keeping more of what they earn hurts the economy? What do they do with the money?
 
pbrauer said:
There are many on Wall Street that make billions/year and others that make millions, they produce NOTHING!!
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They took the risk, risk that you wouldn't take so why shouldn't they keep what they earned? How does that hurt you? Looks to me like you want to pick and choose what someone else makes, why? What gives you that right?
 
Conservative said:
Why don't you tell me how the rich keeping more of what they earn hurts the economy? What do they do with the money?
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IDK, save it during times of economic despair.
 
Goldenboy219 said:
IDK, save it during times of economic despair.
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I don't care either and there seems to be only one class that does, the jealous class. Any money that the rich keep benefits the economy in some way whether or not it goes to investment capital through banks or investment firms, goes to charity to help the poor, or is used by banks to lend to others, It all helps the economy. Some just don't think
 
Conservative said:
Sounds to me like a little class envy. It is more about principle than anything, why penalize producers?
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Short term memory problems? How many times I gotta tell you that we have plenty of money in savings, 6 figure retirement income, and very little debt. We are easily in the top 10-15% based on assets and income.
IF we had any more, we would just spend it faster. Are YOU stimulating the economy?:2razz:
 
Conservative said:
I don't care either and there seems to be only one class that does, the jealous class. Any money that the rich keep benefits the economy in some way whether or not it goes to investment capital through banks or investment firms, goes to charity to help the poor, or is used by banks to lend to others, It all helps the economy. Some just don't think
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IDK= I don't know.

Tell me how much "business lending" is going on. (I am less interested in your reasoning for it).
 
UtahBill said:
Short term memory problems? How many times I gotta tell you that we have plenty of money in savings, 6 figure retirement income, and very little debt. We are easily in the top 10-15% based on assets and income.
IF we had any more, we would just spend it faster. Are YOU stimulating the economy?:2razz:
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What you do with it is your business. I am sure there are a lot of charities that would love to see that money. Why would you send it to a bureaucrat to waste vs. giving it to your church or a local charity? If you don't know what to do with all that money, send it to me and I will spend it for you.
 
Conservative said:
I don't care either and there seems to be only one class that does, the jealous class. Any money that the rich keep benefits the economy in some way whether or not it goes to investment capital through banks or investment firms, goes to charity to help the poor, or is used by banks to lend to others, It all helps the economy. Some just don't think
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Speaking of class warfare, where does the greedy class fit in? Wall Street financiers produce wealth, yes, for themselves, and usually do so at the expense of unsophisticated investors. Wall Street does not have a level playing field...
I would very much like to see the average investor abandon Wall Street and invest closer to home...
 
Conservative said:
They took the risk, risk that you wouldn't take so why shouldn't they keep what they earned? How does that hurt you? Looks to me like you want to pick and choose what someone else makes, why? What gives you that right?
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since you asked; what hurts me is that we bailed out those whose investments failed
the taxes of the middle class were used to cover the losses of the wealthy
those investors should have sustained a loss, but we covered it so that they would not sustain the financial loss
without being exposed to loss there was no risk, only a limit to the amount of upside they would enjoy
we privitized the profits and socialized the profits. that is how it hurt me
 
Goldenboy219 said:
IDK= I don't know.

Tell me how much "business lending" is going on. (I am less interested in your reasoning for it).
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Not much because no one knows what the tax rates will be after the first of the year, how much Obamacare will cost. Why would any business spend money now on hiring or expansion? What do you do with extra money?
 
Conservative said:
What you do with it is your business. I am sure there are a lot of charities that would love to see that money. Why would you send it to a bureaucrat to waste vs. giving it to your church or a local charity? If you don't know what to do with all that money, send it to me and I will spend it for you.
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I would rather stimulate the economy locally, thanks....
 
justabubba said:
since you asked; what hurts me is that we bailed out those whose investments failed
the taxes of the middle class were used to cover the losses of the wealthy
those investors should have sustained a loss, but we covered it so that they would not sustain the financial loss
without being exposed to loss there was no risk, only a limit to the amount of upside they would enjoy
we privitized the profits and socialized the profits. that is how it hurt me
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I don't disagree however the number bailed out is a very small percentage of the population. I don't support bailouts for personal responsibility failures.
 
UtahBill said:
I would rather stimulate the economy locally, thanks....
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Good for you, so do I, you do realize we are talking Federal Income taxes? What you do with your money is your business which seems to be a concern of many liberals who may not think you spend your money wisely and that is the issue. It is none of their business!
 
Conservative said:
Not much because no one knows what the tax rates will be after the first of the year, how much Obamacare will cost. Why would any business spend money now on hiring or expansion? What do you do with extra money?
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let's examine your answer for its absence of any common sense

you would say that investors are not going to earn a profit because they might have to pay a larger portion of that profit as taxes
in your world, they would instead prefer to earn zero profit to avoid the higher taxes

that makes no sense

try again
 
justabubba said:
let's examine your answer for its absence of any common sense

you would say that investors are not going to earn a profit because they might have to pay a larger portion of that profit as taxes
in your world, they would instead prefer to earn zero profit to avoid the higher taxes

that makes no sense

try again
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No, what is going to happen is business is going to pay the higher taxes but do that in lower tax states. Caterpillar just moved two new divisions to TX out of Illinois. What does that do to the state revenue?
 
Conservative said:
I don't disagree however the number bailed out is a very small percentage of the population. I don't support bailouts for personal responsibility failures.
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do you believe the amount spent on the bail out was a very small number

if not, then we must recognize that a very large anmount of taxpayer money was spent bailing out a very few rich individuals

how much sense does that make
 
Conservative said:
Yet you cut off the rest of the post.
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I already listened to the Glen Beck show this morning. We're all full here (of talking points).

Do you know what is going to increase (price wise) at around 10% regardless of your position of Obamacare/taxes?
 
justabubba said:
do you believe the amount spent on the bail out was a very small number

if not, then we must recognize that a very large anmount of taxpayer money was spent bailing out a very few rich individuals

how much sense does that make
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I didn't support TARP but I do understand that most of it was paid back with interest. Where did the payback go? In a 14.5 trillion dollar economy 700 billion isn't a lot and that is the way one has to look at it. Again, I didn't support the bailout but understand why it happened but as stated question where the repayment money went?
 
Conservative said:
No, what is going to happen is business is going to pay the higher taxes but do that in lower tax states. Caterpillar just moved two new divisions to TX out of Illinois. What does that do to the state revenue?
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it is also going to move jobs to china to avoid a 30% excise tax
not unlike the japanese and german automakers who brought plants to the USA a generation back

but the point is, your reasoning makes no financial sense

you insist that the lack of definition of tax rates is holding investors back from spending
that is absolutely nonsense
if they fail to invest then they realize No profit to be taxed
how is No profit better than a profit that is more heavily taxed than it was

your conclusion should now be that your assumption is wrong and there is something else causing investors to hold on to their money instead of investing it ... uncertainty about tax rates is not the cause of that failure to invest
 
Goldenboy219 said:
I already listened to the Glen Beck show this morning. We're all full here (of talking points).

Do you know what is going to increase (price wise) at around 10% regardless of your position of Obamacare/taxes?
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Do you own and run a business? If not then you are in no position to tell what others to do and you have no idea what the cost will be and that is the point, uncertainty. You know there is going to be a fine, how much?

By the way, I didn't listen to Beck today so tell me what he said. Could it be that we have the same ideas on how to run a business? I actually ran one, did you?
 
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