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Thread: What purpose did the tax cut for the wealthiest serve?

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    Quote Originally Posted by Mickey Shane View Post
    I heard that the tax cuts for the wealthy were equivalent to giving them a brand new, decked out, Cadillac Escalade every year.
    You can never have too many Escalades.

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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Mickey Shane View Post
    I heard that the tax cuts for the wealthy were equivalent to giving them a brand new, decked out, Cadillac Escalade every year.
    I've read and previously posted that for those making $250,000 and up, the tax break averages out to $58,000 each year, which is more than the income of 90% of the people in this country. Of course this does not include the loopholes also available to them.
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by TurtleDude View Post
    libs on this board have constantly whined about the top 400 or so who pay a lower effective rate than the ordinary rich because that top 400 have mainly lower taxed dividend or LTCG income

    those are the people who can manipulate their compensation or even some markets

    the reason why we have problems is not due to the vast majority in the top tax bracket. We have problems because too many people want too much government and want other people to pay for it.


    and your ranting about loopholes ignores the fact that the top 5% pay more income tax than the rest of the nation and 47% get full citizenship benefits without paying ANY income tax. That is a real loophole.

    the top 1% pay 40% of the income tax and make only 22% of the income

    almost every other group of americans PAY A LOWER PERCENTAGE OF THE INCOME TAX BURDEN than their share of the INCOME. Now that is a loophole as well



    Only a moron would claim that raising taxes on the rich is going to create more jobs
    Well, first of all most libs, independents and Americans are asking not whining for more jobs. not only to help the people but the government that trillions of dollars debt isn't going away.
    LESS TAX REVENUE CAN NOT PAY OFF THE DEBT THE LOANS AND KEEP THIS GOVERNMENT GOING NO MATTER ALL SMALL IT GETS.

    Didn't say raiseing the taxes on the rich would create more jobs.
    It will create more funding for the pentagon and other government agencies, and protect the salaries of politicians
    It will make the rich a little less rich.
    And working Americans will wait while they stay the same buying less from rich corporations.
    If the rich corporations don't want to hire Americans to help pay taxes, fine let the rich carry the burden workers will wait.
    Only a moron would think the Pentagon will take less money or the CIA ,FBI,HOMELAND SECUROTY. or Haliburtain or any other defence contractor, or any Politicaian takeing a cut in pay or benifits or secret service and that's just the tip of the iceberg.
    The rich may be paying more but with jobs leaving eventualy it won't be enough.
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Catawba View Post
    I've read and previously posted that for those making $250,000 and up, the tax break averages out to $58,000 each year, which is more than the income of 90% of the people in this country. Of course this does not include the loopholes also available to them.
    Well that old saying "THE RICH GET RICHER " didn't just start in this decade.

    The gap between the working class and the rich has always been substancial,but people had jobs
    The only differance is this gap has gotten too wide without jobs the gap becomes a division.

    Frankly I don't give a damn about the rich getting or not getting tax breaks.
    The rich got breaks before, the working class just shrugged their shoulders and went back to work, to paying taxes and making a living , maybe a little grumbling , but now there is a lot less jobs a lot less people working while prices inch up wages stay the same., and while a government struggles with 2 wars, a recession knocking on the door, and a lot less tax revenue add a few trilloin in debt and a lot less jobs to create tax revenue YOU GOT ONE BIG MESS.
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by presluc View Post
    Well that old saying "THE RICH GET RICHER " didn't just start in this decade.
    You are correct old friend, it started with Ronald Reagan 3 decades ago. With the Bush tax cuts for the wealthy, it just got worse.

    The gap between the working class and the rich has always been substancial,but people had jobs
    We have never seen the disparity between the classes that we have today in our lifetimes. It has not been this great since before the Great Depression.

    The only differance is this gap has gotten too wide without jobs the gap becomes a division.
    True that!

    Frankly I don't give a damn about the rich getting or not getting tax breaks. The rich got breaks before, the working class just shrugged their shoulders and went back to work, to paying taxes and making a living , maybe a little grumbling , but now there is a lot less jobs a lot less people working while prices inch up wages stay the same., and while a government struggles with 2 wars, a recession knocking on the door, and a lot less tax revenue add a few trilloin in debt and a lot less jobs to create tax revenue YOU GOT ONE BIG MESS.
    I wouldn't care either if it had not affected our economy and debt and requires the middle class take on more of the nations debt, and cuts to senior's benefits.
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Catawba View Post
    You are correct old friend, it started with Ronald Reagan 3 decades ago. With the Bush tax cuts for the wealthy, it just got worse.



    We have never seen the disparity between the classes that we have today in our lifetimes. It has not been this great since before the Great Depression.



    True that!



    I wouldn't care either if it had not affected our economy and debt and requires the middle class take on more of the nations debt, and cuts to senior's benefits.
    Well I did say in a post either more jobs or higher taxes.

    What do you think of Obama's job plan bill.
    It is my opinion with the way things are; good or bad the unemployed will be for it.
    Voting against a job plan bill to create more jobs that would be too gutsy for me.lol
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by presluc View Post
    Well I did say in a post either more jobs or higher taxes.

    What do you think of Obama's job plan bill.
    It is my opinion with the way things are; good or bad the unemployed will be for it.
    Voting against a job plan bill to create more jobs that would be too gutsy for me.lol
    I think it is good, but too small my friend. Given that the House is controlled by the GOP, it is, from a pragmatic viewpoint, the most we could possibly get passed. Even though it doesn't increase the debt, my guess is the Republican's will find some way to kill this proposal. After all it is not in their political interest for there to be more jobs before the election. And we have already seen, during their refusal to raise the debt ceiling to pay our previous debts, that they are perfectly willing to place politics before the good of the country.
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by David D. View Post
    The point is that Unemployment benefits were on the table to be cut
    Yes but not a single time in history have they ever been on the table as a bargaining factor. That is complete bull**** and shows the Republicans true colors just like when the Republicans used the 9/11 first responders bill as a "bargaining" tool.

    and the President had to choose what he was going to fight for. If you didn't like the fact that the GOP was ready to cut the benefits, that's another topic.
    This is true I dont disagree with that.


    The Dems can't control what the GOP thinks and vice versa.
    I never said they could.

    But the whole point being the Dems and Obama have caved and gave in just about to every single republican demand...


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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by TheDemSocialist View Post

    But the whole point being the Dems and Obama have caved and gave in just about to every single republican demand...
    Actually, the majority of the Dems voted against extending the Bush tax cuts to the wealthy. I've looked it up before.
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Catawba View Post
    I think it is good, but too small my friend. Given that the House is controlled by the GOP, it is, from a pragmatic viewpoint, the most we could possibly get passed. Even though it doesn't increase the debt, my guess is the Republican's will find some way to kill this proposal. After all it is not in their political interest for there to be more jobs before the election. And we have already seen, during their refusal to raise the debt ceiling to pay our previous debts, that they are perfectly willing to place politics before the good of the country.
    43% OF The unemployed haven't worked in 6+months.
    You as well as I know that when you are unemployed you are in competition with anybody else that's unemployed for a job.
    These people are grasping at anything with the word job on it coming from D.C.

    In this bill it was said that any company that hires American workers will get a tax cut.

    Perhaps it's not enough but if 20 people get jobs because of this plan it's a start.

    Any political organization that goes against a bill to create jobs "any jobs" they might just as well give up now cause who's going to support them?
    That's political sucide
    Of course the Tea party could come out and say "America has a strong econmy", but didn't McCain try that? lol.
    Last edited by presluc; 09-14-11 at 04:26 PM.
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