View Poll Results: Do The Rich Need Saving?

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  • Yes

    7 10.00%
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    59 84.29%
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    4 5.71%
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Thread: Do The Rich Need Saving?

  1. #411
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    Re: Do The Rich Need Saving?

    The war that was waged upon the middle class to enrich Wall Street.

    The Downside Of Monetary Easing - Forbes.com

  2. #412
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    Re: Do The Rich Need Saving?

    Quote Originally Posted by 1Perry View Post
    The war that was waged upon the middle class to enrich Wall Street.

    The Downside Of Monetary Easing - Forbes.com
    Your own article states this very clearly

    It is impossible to know for sure what the interest rates would have been in the absence of quantitative easing.
    so much for the rest of it based on assumptions that they admit are "impossible to know".
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  3. #413
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    Re: Do The Rich Need Saving?

    Quote Originally Posted by haymarket View Post
    Your own article states this very clearly



    so much for the rest of it based on assumptions that they admit are "impossible to know".
    What we do know is that nearly everything is more expensive (which hurts whom?) and that QE did nothing for employment.

    What we do know is that millions of seniors have been hurt by the artificially low interest rates and those rates have done little for growth and housing.

    What we do know is that with the artifical floor created by QE gone, Wall Street has nothing to build on. What we do know is that if QE3 is enacted, inflation will again take hold (which hurts what segment of the population?)

    No, we do not know what the rates would be exactly but we know that the basis for the article is correct. QE was a program that's intention was in bringing the markets back up to pre-crash levels. In the hopes it would trickle down? No?

  4. #414
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    Re: Do The Rich Need Saving?

    Quote Originally Posted by Catawba View Post
    Bernie Sanders describes very clearly here the class war being waged ~


    I bet half of those for tax breaks on the upper 1% and for reducing programs for the working class, did not even bother to watch this and if they did, I bet the facts given were just ignored. This is one of the most clean cut and dry arguments I have seen. No punches were pulled, he just told it like it is. 5 of 5 stars

  5. #415
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    Re: Do The Rich Need Saving?

    Six stars would be better.
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  6. #416
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    Re: Do The Rich Need Saving?

    Quote Originally Posted by MusicAdventurer View Post
    I bet half of those for tax breaks on the upper 1% and for reducing programs for the working class, did not even bother to watch this and if they did, I bet the facts given were just ignored. This is one of the most clean cut and dry arguments I have seen. No punches were pulled, he just told it like it is. 5 of 5 stars
    It does not satisfy the wants of short term greed. It requires we consider long term stability and the greater good of country. I think it ultimately comes down to that.
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  7. #417
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    Re: Do The Rich Need Saving?

    Quote Originally Posted by nijato View Post
    Carefull here... remember that the poor pay a much higher percentage of thier income to payroll taxes as well as those obscenely regressive sales taxes. And therefore, since the poor spend a far, far higher percentage of thier income on things like food, shelter and sales taxes than the wealthy (nevermind cigarettes and the lottery!), we have a progressive (as opposed to regressive) tax rate. Is that wrong? Should we tax the poor into a state of malnutrition? death?
    1) state taxes are not relevant when dealing with federal issues-especially if the money they use is from the federal government

    2) what exactly are Payroll taxes and what do they fund?

    Food isn't taxed.

    47% of the country doesn't pay federal income taxes. are you saying they are all poor?

    and why do you ignore value received as an issue in paying taxes?



  8. #418
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    Re: Do The Rich Need Saving?

    Quote Originally Posted by Catawba View Post
    Bernie Sanders describes very clearly here the class war being waged ~


    I am glad you see Sanders as your messiah. it pretty much sums it all up.



  9. #419
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    Re: Do The Rich Need Saving?

    Quote Originally Posted by haymarket View Post
    Six stars would be better.
    You didn't answer my questions in post 413.

  10. #420
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    Re: Do The Rich Need Saving?

    Quote Originally Posted by MusicAdventurer View Post
    I think what you are not understanding is how the wealthy actually do not feel any burden at all when they pay a higher tax percentage (which they often don't anyway because there are always loopholes to be exploited).

    Here is why they do not feel a burden:

    It is very simple. All one must consider is the cost of living. The cost of living (having a home, transportation, food and so on) does not change when you become wealthy. Therefore, the higher your wage is, the lower the cost of living is as a percent of your income. What this means is that the wealthy have a whole lot of money after they have paid for their cost of living. They can do whatever they like with this money .. even use it to insulate their houses if they want to. However, a small percentage of the money that they have above their cost of living (i.e. the money they have floating around wherever they want it) is paid in income tax.

    As these wealthy individuals will will likely not loose much sleep by not using as much of it as insulation (regular insulation is much better and cheaper by volume), or by not using it to buy a 10th house, or a 3rd private plane, or a 10th car (all supporting paying less than living wages) or most likely, it will simply sit in a high interest account and accumulate more and more wealth and so on (the amount of frivolous items that money beyond the cost of living can be used for is nearly infinite); this money easily and painlessly can be used by the government for many different purposes (roads etc. including being used as a way to allow more mobility between classes and lessen the hardship of the working class, whom the wealthy depend on for their wealth).

    In fact the only pain that a wealthy person may feel from having to pay a slightly higher percentage in income tax, is the pain that is imagined in their minds. In other words, it may put a dent in their fragile egos, or insult one of their illogical principles. If the wealthy were not aware of the income tax they pay, they likely wouldn't even be aware that the relatively small amount of money were gone .. unless of course they were in a fierce competition with their other wealthy buddies to see who could buy the most and largest homes or the most vintage sports cars, yachts or custom pools (while paying under a living wage for it to be done).

    It would be like a person ends up owning a 10,000 acre lot with every square inch packed with fruits, vegetables, livestock etc.. Lets say a person could only consume 1,000 acres of product within his/her lifetime. Now lets imagine that that person got extremely upset if a visitor who had no property dared to ask for ten acres (lets assume that is what it would take for them to live off) to use to survive and they would promise to help out in maintaining a portion of the landowner's lot in return. If you can understand this analogy, you can see how absolutely ridiculous it is that the wealthy get all worked up at the thought of paying their fair share (i.e. a slightly higher percentage of income tax, offset by wealth-friendly loopholes) in income tax.

    Obviously, the person with the 10,000 acre lot is the wealthy person and the visitor is someone born into poverty. How dare that visitor ask to work for a living wage .. even worse how dare that visitor ask for a portion of my property in return for his/her services; that's my property, even if I will never use it, a large reason I have it is due to inheretence and it would have gone to waist anyway. The nerve!

    If you aren't subject to those taxes you have no relevance in claiming that those who are targeted for tax hikes won't "feel it"

    you project your own budget onto the rich and assume that they have the same expenses you do

    what I understand is that you think your existence entitles you to the wealth of others

    and your absolute crap that the rich don't pay their fair share brands you as dishonest in my eyes. You again are seeing tax rates as a tool to create "Fairness" in the world and to punish those you think received improper or uncalled for benefits be they intelligence, good looks, athletic talent or prosperous families.

    looking at things objectively, anyone who claims that a group that pays almost twice as much of the tax burden (and when you count death taxes its about twice) as their share of the income is not paying their fair share.

    I find your claims totally devoid of reality



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