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Thread: Warren Buffet: 'Trickle Down' Theory Doesn't Work

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

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    Warren Buffet: 'Trickle Down' Theory Doesn't WorkStick to the topic at hand and let's all stop with the personal back and forth attacks. Getting back on topic would be wise for all at this point. Thank you!
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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    'Trickle Down' Theory will never work. What would work? A place where all people are equal, have housing, food clothes, etc. ALL people. Not just a few and anybody that does not wish to pitch in? They can either leave or will have the very basics.

    There is no damn reason why any and all legal citizens in the U.S.A. have to suffer and be homeless, foodless, etc. It is not right.

    This crap about well the rich gonna make thier piss on the poor turn into jobs and other bull****? Just that: bull****
    ~Following My Own Flow~

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    I just want to tell a little story. I got into a higher tax bracket this year. Taxes will always piss me off, but is it setting me back? I'm doing fine, I will get some of it back and I don't think a lot of you know how easy it is for rich people to stay rich. If you can make a million guess what? Chances are in 10 years you could turn that million into 10 million without even getting off your ass. Being rich and getting richer is a hobby to rich people. Am I going to give a **** about capital gains tax when I'm getting taxed for it? Hell no because I didn't do **** for that money other than put it in there. When you are a working class citizen though working and dragging your dick into the ground 12 hours a day are you telling me that you should just **** that guy over and give him the same taxes a rich person has even though they have ways of getting refunds and write offs back that most US citizens couldn't even dream of? You people are unreal.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by TurtleDude View Post
    Hard to say. most rich people have assets in other places. Many middle class americans only have savings and their home equity
    The valuation of those assets depends on adequate liquidity. Americans watched over $11 trillion in wealth evaporate on then fear of insolvency (the reason for a bank run), imagine if that fear turned into reality.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by JohnWOlin View Post
    I just want to tell a little story. I got into a higher tax bracket this year. Taxes will always piss me off, but is it setting me back? I'm doing fine, I will get some of it back and I don't think a lot of you know how easy it is for rich people to stay rich. If you can make a million guess what? Chances are in 10 years you could turn that million into 10 million without even getting off your ass. Being rich and getting richer is a hobby to rich people. Am I going to give a **** about capital gains tax when I'm getting taxed for it? Hell no because I didn't do **** for that money other than put it in there. When you are a working class citizen though working and dragging your dick into the ground 12 hours a day are you telling me that you should just **** that guy over and give him the same taxes a rich person has even though they have ways of getting refunds and write offs back that most US citizens couldn't even dream of? You people are unreal.
    What a crock. Not the way it is at all; you have no idea what you're talking about.

    GOOD investments double about ever 7.2 years, so your million into 10 million is utter rubbish. You don't even consider the risk taken by entrepreneurs and investors, and the incredible losses and failures many of them experience.

    And at 15 percent capital gains rates, that risk is worth it. But at 40 percent, no way would a smart investor take that risk. He'll just bury his money in the backyard, and it'll never spur the economoy whatsoever.

    And by the way, the trickle down theory is "capitalism" in a nutshell, so you socialists and communists need to show us where your ideas have worked. Take a look at China; capitalism for the government, communism for everyone else. Is that what you want?

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by Goldenboy219 View Post
    The valuation of those assets depends on adequate liquidity. Americans watched over $11 trillion in wealth evaporate on then fear of insolvency (the reason for a bank run), imagine if that fear turned into reality.
    I must have missed the run on the banks. Please point me to that run?

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by Kali View Post
    'Trickle Down' Theory will never work. What would work? A place where all people are equal, have housing, food clothes, etc. ALL people. Not just a few and anybody that does not wish to pitch in? They can either leave or will have the very basics.

    There is no damn reason why any and all legal citizens in the U.S.A. have to suffer and be homeless, foodless, etc. It is not right.

    This crap about well the rich gonna make thier piss on the poor turn into jobs and other bull****? Just that: bull****
    It sounds nice in theory, but it'll never happen. Not only for the reason that you haven't addressed where the money is going to come from, but also because there are still going to be people who are too stupid and too lazy to go get the free ****.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by JohnWOlin View Post
    I just want to tell a little story. I got into a higher tax bracket this year. Taxes will always piss me off, but is it setting me back? I'm doing fine, I will get some of it back and I don't think a lot of you know how easy it is for rich people to stay rich. If you can make a million guess what? Chances are in 10 years you could turn that million into 10 million without even getting off your ass. Being rich and getting richer is a hobby to rich people. Am I going to give a **** about capital gains tax when I'm getting taxed for it? Hell no because I didn't do **** for that money other than put it in there. When you are a working class citizen though working and dragging your dick into the ground 12 hours a day are you telling me that you should just **** that guy over and give him the same taxes a rich person has even though they have ways of getting refunds and write offs back that most US citizens couldn't even dream of? You people are unreal.
    The part your missing, is that there tax increases on non-millionares and samll businesses.

    Businesses have to make money this year, to pay the taxes for last year. It's a vicious cycle that is never-ending. If a company didn't have money left over last year and doesn't have any money left over this year, then they're not going to be able to pay their taxes. Ultimately, this is very bad for the government's coffers.

    Not all business operators are millionares, in fact very few of them are. You wanna stick it to the millionares? Fine, go ahead. However, the dollar amount that defines who is, "rich", is getting lower all the time.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  9. #219
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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by Lord Tammerlain View Post
    Canada has never lost a war it has been in. Heck we even burned down the White house ( admitedly we were not an independant nation at the time)
    The RCA burned down the White House?

    Trickle down economics or Vodoo economics or Supply side economics is a theory of economics brought into the US during the Reagan admin. It failed then as it relied on Keynsian economics to make it work, just as it fails now when the debts of both the people of the US and the government of the US no longer allow for stimulus to work.

    I suggest going back to the economic theory of hard work, saving at least 5% of your income for retirement and minimising debt
    Hardwork, doing what? Providing goods and services, for people to purchase? Sounds like the cash flow created by trickle down economics.

    I've been running a service type business for ten years and I've never sold my services to someone that had less money than I do.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  10. #220
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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by apdst View Post
    The RCA burned down the White House?



    Hardwork, doing what? Providing goods and services, for people to purchase? Sounds like the cash flow created by trickle down economics.

    I've been running a service type business for ten years and I've never sold my services to someone that had less money than I do.
    Who sells more cars and has higher revenues

    Toyota or Morgan, Ford or BMW

    A large middle class causes a large demand for goods and services, and provided they save some of their money, they can also provide the capital for investment by companies and individuals to expand and grow into new markets.

    A small middle class with a large lower class and a small upper class has reasonable demand for goods and services, but no where near that of when a country has a healthy and large middle class
    Happy Hanukkah Cheerfull Kwanzaa
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