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

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    What purpose did the tax cut for the wealthiest serve?

    Sorry, I did this the wrong way.

    I'll be posting it right. Just give me a sec.
    Last edited by Иосиф Сталин; 08-03-11 at 01:11 PM.
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    Re: What purpose did the tax cut for the wealthiest serve?

    Wow, no new taxes. No taxes on the wealthy or high income people. That’s, excellent for us. Business got what they wanted. Business knew what was happening and they were under a great risk of “Obama’s Blank Check”, but no new taxes got them what they wanted. So the stock market is now moving in right direction. I’m so relieved about our investments. Oh no, what the hell are they saying on CNN? It makes no sense!

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

    It's just government give away to the new aristocracy. There's no reason why the marginal tax rate for the individual should turn over and decrease at high enough income. Which it does thanks to nice little loopholes. It's not creating jobs and we already have some of the lowest corporate taxes of the industrialized world (some pay almost nothing). So there's no real point other than to let the super rich keep more of their money while bilking it from others. And then using that money to give to the corporations of these very rich people. Subsidizing and handouts from the public coffers so that the rich not only stay rich, but get richer.

    People complain about the "wealth redistribution" plans of the democrats a lot; but don't question their own endorsement of wealth redistribution. It just goes the opposite way; but it's the same use of government to redistribute wealth amongst the population.
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Ikari View Post
    It's just government give away to the new aristocracy. There's no reason why the marginal tax rate for the individual should turn over and decrease at high enough income. Which it does thanks to nice little loopholes. It's not creating jobs and we already have some of the lowest corporate taxes of the industrialized world (some pay almost nothing). So there's no real point other than to let the super rich keep more of their money while bilking it from others. And then using that money to give to the corporations of these very rich people. Subsidizing and handouts from the public coffers so that the rich not only stay rich, but get richer.

    People complain about the "wealth redistribution" plans of the democrats a lot; but don't question their own endorsement of wealth redistribution. It just goes the opposite way; but it's the same use of government to redistribute wealth amongst the population.
    And people think that this redistribution has higher moral authenticity because it lives of to some ancient ideal of the Founding Fathers, but in fact the values and ambitions which inform the pro-Wall Street bunch have almost no resemblance to any thought or vision of the Founding Fathers, let alone the modern understanding of what a well administrated republic should be like.
    Last edited by Morality Games; 08-03-11 at 08:51 PM.
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Иосиф Сталин View Post
    Sorry, I did this the wrong way.

    I'll be posting it right. Just give me a sec.
    Probably the same thing that that same tax cut for every other tax bracket served...a little stability and encouragement in the private sector.

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

    Quote Originally Posted by Ikari View Post
    It's just government give away to the new aristocracy. There's no reason why the marginal tax rate for the individual should turn over and decrease at high enough income. Which it does thanks to nice little loopholes. It's not creating jobs and we already have some of the lowest corporate taxes of the industrialized world (some pay almost nothing). So there's no real point other than to let the super rich keep more of their money while bilking it from others. And then using that money to give to the corporations of these very rich people. Subsidizing and handouts from the public coffers so that the rich not only stay rich, but get richer.

    People complain about the "wealth redistribution" plans of the democrats a lot; but don't question their own endorsement of wealth redistribution. It just goes the opposite way; but it's the same use of government to redistribute wealth amongst the population.
    Which loopholes are you referring to?

    I love it when I get to ask that question.

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

    Quote Originally Posted by apdst View Post
    Probably the same thing that that same tax cut for every other tax bracket served...a little stability and encouragement in the private sector.
    I hope someone can clear this up for me .. I am wondering why people think some wealthy investors get paranoid and pull their purse strings tight when they have slightly higher taxes? Is paying a slightly higher tax rate going to really effect them and their lifestyle? Or are some of them just being vindictive because they are upset about having to pay a slightly higher percentage .. this never made sense to me. Any thoughts?
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    Re: What purpose did the tax cut for the wealthiest serve?

    Gather votes from the rich to the politicians and more money for the politicians to spend on their political campaigns
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by naturalrights View Post
    I hope someone can clear this up for me .. I am wondering why people think some wealthy investors get paranoid and pull their purse strings tight when they have slightly higher taxes? Is paying a slightly higher tax rate going to really effect them and their lifestyle? Or are some of them just being vindictive because they are upset about having to pay a slightly higher percentage .. this never made sense to me. Any thoughts?
    It creates uncertainty.

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

    Quote Originally Posted by apdst View Post
    It creates uncertainty.
    But you see that's what I don't understand. First off, how would increased income taxes for the wealthy create uncertainty? Isn't business going to continue as usual? When I am taxed more heavily, I just find new ways to make more money. In order to do this, I am going to have to preform better and as a result my company is going to have to grow .. last time I checked this means good things for stock holders .. am I missing something?
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