View Poll Results: Your opinion of the Buffet Rule

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  • It will hurt job creators

    15 30.00%
  • It will raise revenue and help the economy

    27 54.00%
  • It will promote laziness

    7 14.00%
  • It is the definition of socialism

    8 16.00%
  • It will help close the gap between the middle class and rich

    20 40.00%
  • It punishes the upper tier of social darwinism

    6 12.00%
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Thread: What are your feelings on the Buffet Rule?

  1. #21
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    Re: What are your feelings on the Buffet Rule?

    Quote Originally Posted by TurtleDude View Post
    Everyone from Boehner to Obama, from Reid to Obumble's press secretary have admitted this proposal is DOA. So why is Obumble pushing for a vote other than to play class warfare?
    It probably wont pass, but those who it will affect can easily afford it so why is it a big deal? If I had a wealth, then I would be more than happy to give it to the government. It is the "Gospel of Wealth". We should take an example from Carnegie and Rockefeller and the other weatlhy big-wigs of the 1890's who had no poblem giving back. Yes I understand that that was before income tax
    "The trust of the innocent is the liar's most useful tool." : Stephen King

    "Commerce with all nations, alliance with none, should be our motto." Thomas Jefferson

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    Re: What are your feelings on the Buffet Rule?

    1. It won't raise revenue. People are dynamic actors who seek out ways to minimize their tax exposure in direct relation to their incentive to do so.

    2. It will reduce economically productive behavior, as people now will spend more time avoiding taxation and less time producing.

    3. I'm willing to raise rates. Effective rates. In the context of tax code simplification. But increasing the complexity and negative effects of the code are the precise opposite of the direction we should be traveling in.

  3. #23
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    Re: What are your feelings on the Buffet Rule?

    The argument that I dont understand is how lowering their taxes will help "job creators". If they were creating jobs, then why were we losing 3 million jobs a month at the presidential interchange? That is what does not make sense. I am all for reducing the complications. What I am not for is reducing the rates on the people that don't need it reduced.
    "The trust of the innocent is the liar's most useful tool." : Stephen King

    "Commerce with all nations, alliance with none, should be our motto." Thomas Jefferson

  4. #24
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    Re: What are your feelings on the Buffet Rule?

    Quote Originally Posted by TurtleDude View Post
    Not actually true

    you have more than a few retirees-often widows who took the life insurance policies etc left to them by their late husband who have no earned income. Obama wants taxes on dividends to go from (35%) + 15% to (35%) + 40%

    that would hurt big time.
    That is a very good point, Reps should bring that up.

  5. #25
    warrior of the wetlands
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    Re: What are your feelings on the Buffet Rule?

    Quote Originally Posted by TheLastIndependent View Post
    It probably wont pass, but those who it will affect can easily afford it so why is it a big deal? If I had a wealth, then I would be more than happy to give it to the government. It is the "Gospel of Wealth". We should take an example from Carnegie and Rockefeller and the other weatlhy big-wigs of the 1890's who had no poblem giving back. Yes I understand that that was before income tax
    you do realize you are talking out of your six if you claim it won't hurt anyone. BUFFETT's rant was about a few hundred Billionaires who only have INVESTMENT income and pay an effective rate of around 15%. Some high earning upper middle class people (ie those making 350K or so in only earned income with say no real deductions) pay a HIGHER effective rate.

    YET OBUMBLE has interpreted the Buffet rule to being one that anyone making more than a million a year should pay an effective rate of 30%-which is an effective rate that almost no one in the middle class pays those those on the very top of the upper middle class pays at the MARGIN

    (many dullards think that because someone making 90K a year has a Marginal rate higher than 15% they are paying a higher actual rate but trying to correct the stupid is a waste of time).

  6. #26
    warrior of the wetlands
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    Re: What are your feelings on the Buffet Rule?

    Quote Originally Posted by TheLastIndependent View Post
    The argument that I dont understand is how lowering their taxes will help "job creators". If they were creating jobs, then why were we losing 3 million jobs a month at the presidential interchange? That is what does not make sense. I am all for reducing the complications. What I am not for is reducing the rates on the people that don't need it reduced.
    that's like saying why isn't state of the art chemotherapy curing stage IV pancreatic or lung cancer and maybe if we cut back on that treatment the rates of cures for those now almost 98% fatal diseases will increase

  7. #27
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    Re: What are your feelings on the Buffet Rule?

    Will it make some people STFU?

  8. #28
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    Re: What are your feelings on the Buffet Rule?

    Quote Originally Posted by radcen View Post
    Will it make some people STFU?
    \

    a 38 special to the head will do that too but that is no reason to support such a tactic as a general proposition

  9. #29
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    Re: What are your feelings on the Buffet Rule?

    Quote Originally Posted by TheLastIndependent View Post
    The argument that I dont understand is how lowering their taxes will help "job creators". If they were creating jobs, then why were we losing 3 million jobs a month at the presidential interchange? That is what does not make sense. I am all for reducing the complications. What I am not for is reducing the rates on the people that don't need it reduced.
    IMO, you actually have two different questions. Why are we losing jobs? and why are we not creating jobs? Both have different answers. As to losing jobs, restrictive government regulations and high labor costs are the largest contributors. When government requires vast amounts of time and monetary expenditure to effect a startup, that startup will go somewhere else. Example is the Keystone pipeline, bogged down in government restrictions. Similarly, when a company is denied the right to start a new manufacturing facility in a low wage, non union state, such as the Boeing new plant in SC, than the company will either move overseas, or the plane does not get built.

    As to producing jobs, companies need a favorable environment and capital to expand. Corporations do not gather money and store it under the mattress. Once again, a favorable environment, including a favorable labor market, is needed, but the added requirement of ample capital is needed. As we have seen, government intervention into the capital market is not necessarily based on market factors, but is generally agenda driven. Lower taxes provides more capital in the hands of job producers, which seldom remains stagnant, but must be put to work.

  10. #30
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    Re: What are your feelings on the Buffet Rule?

    The purpose of taxes should be to raise revenue, rather than to make people less wealthy.
    If you expect people to be rational, you aren't being rational.

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