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Thread: Two-thirds of millionaires left Britain to avoid 50p tax rate

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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    So if a thousand millionaires hoard / don't spend a million each it's a billion not in the economy right? What of the million people, like me, that hoard a thousand dollars each? What are you going to do to them or do you only want to impact the smaller voting block?


    Quote Originally Posted by JRog View Post
    Wealth inequality is when the amount of wealth is not evenly distributed. It's healthy to have . EXTREME wealth inequality is when a significant amount of an economy's value rests with very few people. That is unhealthy because those who have the money, have so much of it that they can't possibly spend it (nor do they want to), which takes that money out of circulation. Sure they invest it where it will earn money, but investing does not generate demand, and therefore does not stimulate growth.

    This is a good chart to reference
    http://chewychunks.files.wordpress.c...ng?w=630&h=263

  2. #122
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by sawyerloggingon View Post
    The question is will obama and the Democrats learn anything from this.
    Well saying Obama isnt proposing a 50% top tax rate on anyone i see that they have nothing to learn...


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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by lpast View Post
    You kiddin your mostly puddle already from all those croc tears...loolol
    you're I think is the word you are looking for

    I am not the one complaining that others are wealthier than I am (yes there are some who are)

  4. #124
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by TurtleDude View Post
    you're I think is the word you are looking for

    I am not the one complaining that others are wealthier than I am (yes there are some who are)
    I just keep getting more and more impressed every time I talk to you...I did hear some sniffling though

  5. #125
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by CalGun View Post
    So if a thousand millionaires hoard / don't spend a million each it's a billion not in the economy right? What of the million people, like me, that hoard a thousand dollars each? What are you going to do to them or do you only want to impact the smaller voting block?
    Having a million people with a thousand dollars is not wealth inequality, so I don't see your point. Granted, the economy would benefit from everyone spending all of their money, but I think we'd best focus on correcting the most extreme cases.

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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by TurtleDude View Post
    I love the love the left has for the clinton tax rates.
    Its not a love of Clinton tax rates, but the preference in the multiple choice question. As there are no current proposals on the table to raise or lower taxes other than the proposal to extend the temporary tax cuts as enacted in 2001/03 and extended in 2010. No one, at the moment, has the political courage to step outside the box of the question of to extend or to not extend or to partially extend.

    The partial extension, which seems to have the most political momentum, involves institutionalizing (making permanent) all of the temporary tax cuts except for those "making" more than $250,000. That group would have an incremental tax rate as before 2001.... ie: The "Clinton" rates.

    Personally, I have stated many times on this board that we should have a top rate on incomes of over $1M of 50% (as the higher the rate on earnings, coupled with low cap gain rates, the more you incent business owners to refrain from salary and re-invest in their businesses)... but that is not part of the multiple choice questions and not likely to happen in this decade.

  7. #127
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by Paul Austin View Post
    No, whats wrong is extremists who want to have children removed from the homes of families whose choice of political party they disagree with & would lie to advocate such.

    You know the rules.
    Extremists who don't know the facts should keep off what they know nothing about, I think.

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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by CalGun View Post
    So if a thousand millionaires hoard / don't spend a million each it's a billion not in the economy right? What of the million people, like me, that hoard a thousand dollars each? What are you going to do to them or do you only want to impact the smaller voting block?
    If it is hoarded by keeping it in a savings account, then it's available to others via loans from the bank. If it's hoarded by buying stocks, then it's available to the issuers of those stocks. It's only kept out of the economy if it's hoarded by keeping it under your mattress.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by Dittohead not! View Post
    If it is hoarded by keeping it in a savings account, then it's available to others via loans from the bank. If it's hoarded by buying stocks, then it's available to the issuers of those stocks. It's only kept out of the economy if it's hoarded by keeping it under your mattress.
    As you know, the bankers are desperately trying to cover their backs over their incompetent debt-shambles, and we to pay their bonbuses, lest they should go abroad and rob others. They hoover up all our money and keep it under their mattresses, in effect, as you very well know.

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    Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by JRog View Post
    Wealth inequality is when the amount of wealth is not evenly distributed. It's healthy to have inequality. EXTREME wealth inequality is when a significant amount of an economy's value rests with very few people. That is unhealthy because those who have the money, have so much of it that they can't possibly spend it (nor do they want to), which takes that money out of circulation. Sure they invest it where it will earn money, but investing does not generate demand, and therefore does not stimulate growth.

    This is a good chart to reference
    http://chewychunks.files.wordpress.c...ng?w=630&h=263
    Could be more specific? What percent is damaging and what is merely troubling to you.

    Demand can be created. I didn't demand a Walkman, an iPod or an iPhone.
    People in Dubai don't like the Flintstones but people in Abu Dhabi do

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