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White House Tax Plan Would Ask More of Millionaires

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OK, so no one seems bent on trying to answer my question, so I'll try asking it a different way....


What exactly do you think will happen when all of a sudden the wealthier class in amerca have their income taxed more? Anyone care to answer this, please?

They will have a slight amount less to place in foreign investments that provide no benefit for our country?
 
They did identify and lessen the risks ever since the Great Depression in the form of the Glass Steagall Act, until its repeal in 1999.



"The Great Depression was the worst economic slump ever in U.S. history, and one which spread to virtually all of the industrialized world. The depression began in late 1929 and lasted for about a decade. Many factors played a role in bringing about the depression; however, the main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920's, and the extensive stock market speculation that took place during the latter part that same decade. The maldistribution of wealth in the 1920's existed on many levels. Money was distributed disparately between the rich and the middle-class, between industry and agriculture within the United States, and between the U.S. and Europe. This imbalance of wealth created an unstable economy. The excessive speculation in the late 1920's kept the stock market artificially high, but eventually lead to large market crashes. These market crashes, combined with the maldistribution of wealth, caused the American economy to capsize."
The Main Causes of the Great Depression

"And as I have previously noted, radical concentration of wealth actually destroys capitalism, turning it instead into socialism for the rich.

Is There a Causal Connection Between Extreme Inequality and Economic Crises?

More to the point, most mainstream economists do not believe there is a causal connectionbetween inequality and severe downturns.


But recent studies by Emmanuel Saez and Thomas Piketty are waking up more and more economists to the possibility that there may be a connection.
Specifically, economics professors Saez (UC Berkeley) and Piketty (Paris School of Economics) show that the percentage of wealth held by the richest 1% of Americans peaked in 1928 and 2007 - right before each crash."

Extreme Inequality Helped Cause Both the Great Depression and the Current Economic Crisis → Washingtons Blog

None of that disproves his assertion.
 
They will have a slight amount less to place in foreign investments that provide no benefit for our country?

Have you ever know a person to settle for making less, if they have the clear and easy means to make more?
 
i would think the answer would be obvious....you have more of the resources, you should carry more of the burden.

But why? Why does one's material possessions entails others to demand more of them?
 
Do you want to tell me my financial obligations as well?

You are the one that asked me to give you an exact dollar amount of your financial obligations in taxes, but then provide no income information to answer the question. I know of no tax consultants that can figure your tax without income information.
 
Have you ever know a person to settle for making less, if they have the clear and easy means to make more?

Yes, that is why the country adopted progressive tax rates in the first place, to prevent a few robber barons from owning the country.
 
Yes, that is why the country adopted progressive tax rates in the first place, to prevent a few robber barons from owning the country.
No, it was started to fund the civil war. The "progressive" part began when extracting a flat tax no longer sufficed for the ever expanding budget. It was decided to take more from wealthier people ONLY because they feared a second uprising like the one they experienced after announcing that the then "war time" tax on income would remain in effect, despite there being no war. And since there are usually far more non rich than rich...they opted to tick off the lesser of the two threats. History. It's not just for historians anymore.
 
No, it was started to fund the civil war. The "progressive" part began when extracting a flat tax no longer sufficed for the ever expanding budget. It was decided to take more from wealthier people ONLY because they feared a second uprising like the one they experienced after announcing that the then "war time" tax on income would remain in effect, despite there being no war. And since there are usually far more non rich than rich...they opted to tick off the lesser of the two threats. History. It's not just for historians anymore.

progressive income taxes are based on the assumption that those not taxed much have more voting power than those who are taxed higher
 
Yes, that is why the country adopted progressive tax rates in the first place, to prevent a few robber barons from owning the country.
Historical fail

that was the idiotic reason behind the death tax
 
In your opinion.
His assertion was that even with an extra 10% wealth redistribution, that is, taking 10% of the income of the top earners and giving it to the rest, the great depression would still have happened. Nothing in response disproved this, or even contradicts it.
 
Critical thinking? How about logic and common sense? What does a bureaucrat in D.C. know about a local problem in your area that you cannot take care of yourself. That is the point, people making a lot of money give to charities and their churches that benefit the local community. Sending money to D.C. is wasted on social engineering. When are you going to start thinking instead of feeling?

No, logic and critical thinking/reading are two different things. Try google, it can help you out a lot in these situations (hell, even I'll admit to googleing something I don't understand on here).
 
No, it was started to fund the civil war. The "progressive" part began when extracting a flat tax no longer sufficed for the ever expanding budget. It was decided to take more from wealthier people ONLY because they feared a second uprising like the one they experienced after announcing that the then "war time" tax on income would remain in effect, despite there being no war. And since there are usually far more non rich than rich...they opted to tick off the lesser of the two threats. History. It's not just for historians anymore.

Obviously, as you have abandoned the historian's perspective to just make up your own.
 
Historical fail

that was the idiotic reason behind the death tax

It was our forefathers excellent reason behind all the progressive taxes.
 
Yes, that is why the country adopted progressive tax rates in the first place, to prevent a few robber barons from owning the country.

Raise taxes on the rich!! Keep supporting 47% of the people that work but don't pay any FIT! Keep supporting 3.7 Trillion dollar massive Federal Budget! You keep blaming rich people but ignore Govt. greed. Amazing!
 
No, logic and critical thinking/reading are two different things. Try google, it can help you out a lot in these situations (hell, even I'll admit to googleing something I don't understand on here).

Try living and working in the real world for a change and you will when you get out of school. Wait until you see how much waste, fraud, and abuse there is in our tax spending. Show me where in Google we need a 3.7 trillion dollar budget and why govt. doesn't need to go on a diet.
 
Try living and working in the real world for a change and you will when you get out of school. Wait until you see how much waste, fraud, and abuse there is in our tax spending. Show me where in Google we need a 3.7 trillion dollar budget and why govt. doesn't need to go on a diet.

Try responding with actual substance instead of mindless insults.
 
Try responding with actual substance instead of mindless insults.

Try pointing out the actual substance that I didn't respond to. seems the only ones here with personal attacks are you and the other liberals who cannot stand being challenged. Do you want to take a shot at what my "fair share" is regarding state, local, and Federal Taxes? Then explain why we need a 3.7 trillion dollar budget and when the govt. is going on a diet like the rest of the public under this Administration?
 
Yes, that is why the country adopted progressive tax rates in the first place, to prevent a few robber barons from owning the country.

Like far too many you believe that the economic pie is constant and never growing. Now that is probably true with a liberal in charge but not in the real world. There are a lot of wealthy liberals that want to keep people dependent but of course you ignore that.

Here is a little lession for you on tax rates and affects on govt. revenue and who pays the taxes. Pay attention

The Reagan Tax Cuts: Lessons for Tax Reform
 
Like far too many you believe that the economic pie is constant and never growing. Now that is probably true with a liberal in charge but not in the real world. There are a lot of wealthy liberals that want to keep people dependent but of course you ignore that.

Here is a little lession for you on tax rates and affects on govt. revenue and who pays the taxes. Pay attention

The Reagan Tax Cuts: Lessons for Tax Reform

The "ever growing pie" claim is moot when those who have the existing pie get almost all of the new pie.
 
The "ever growing pie" claim is moot when those who have the existing pie get almost all of the new pie.

I wonder how true the above statement is. For example when people talk about about the top 400 wealthiest people are those the same 400 wealthiest from 20 years ago? Was the facebook guy even on this list 10 years ago.
 
The "ever growing pie" claim is moot when those who have the existing pie get almost all of the new pie.


Whose fault is it that you don't get a bigger piece of the pie? If you aren't getting a bigger piece of the pie it is probably because you expect someone to give it to you. That isn't going to happen. Work for it, earn it!

Still waiting for someone to define my fair share in taxes, Federal, State, and local? I earned every dime in my career and chose how to spend it. Why do you think the govt. is better at deciding how to spend your own income?
 
Whose fault is it that you don't get a bigger piece of the pie? If you aren't getting a bigger piece of the pie it is probably because you expect someone to give it to you. That isn't going to happen. Work for it, earn it!

Still waiting for someone to define my fair share in taxes, Federal, State, and local? I earned every dime in my career and chose how to spend it. Why do you think the govt. is better at deciding how to spend your own income?

As usual, you argue what you want to argue, not what someone said.

If those who have most of the existing pie get almost all of all new pie, the "ever growing pie" meme is a myth at best and a deliberate deceit at worst.
 
As usual, you argue what you want to argue, not what someone said.

If those who have most of the existing pie get almost all of all new pie, the "ever growing pie" meme is a myth at best and a deliberate deceit at worst.

As you have been asked to you believe Zuckerman was on that original list of wealthiest people? That indicates that the pie is always growing. What are you doing to get your piece of the pie? I see a lot of people here whining but I assure you that will never get more of the pie whining. Those that have much of the pie today only get more of the growing pie if you allow it and don't compete.
 
As you have been asked to you believe Zuckerman was on that original list of wealthiest people? That indicates that the pie is always growing. What are you doing to get your piece of the pie? I see a lot of people here whining but I assure you that will never get more of the pie whining. Those that have much of the pie today only get more of the growing pie if you allow it and don't compete.

Lets go over some basic math you seem to be lacking. Okay, we know that the top 1% are the richest blah blah blah. Alright, under the conservative philosophy, everyone, if they make the right decisions, can become a millionaire. How is that true? It isn't, 1% can't be expanded, it will always be the 1% unless we redistribute the wealth.
 
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