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ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

It is hysterical to read about billionaires saying they should be taxed more. They say this after making billions, not before. Hypocrites, every one of them.

Have not read whole thread and this may already have been said but nothing is stopping these rich folks from sending in extra money on their own. I admire them for standing with the 99% and wanting the gov. to tax them more but nothing is stopping them from doing it on their own. Same with Michael Moore.. He can pay extra taxes if he wants as the IRS is not stopping anybody from paying extra. Maybe all these rich people should start making it rain on the IRS in honor of the poor and of all the 99%. Nobody is stopping em.


Life Among the 1% | MichaelMoore.com
 
No, there's just a law saying that the IRS has to take exactly what you owe, no more and no less. So no, no one is actually able to increase their taxes at will.


I did not know this. I guess if they cannot send extra to the IRS then these rich folks in the top 1% that want to do more can just donate more or go down to some of these 99% protest and start changing the poor folks lives. I mean it would be cool if Buffet and Moore, etc. went to some of these places and picked several poor people they are impressed with and just gave them money to totally change their life.
 
I did not know this. I guess if they cannot send extra to the IRS then these rich folks in the top 1% that want to do more can just donate more or go down to some of these 99% protest and start changing the poor folks lives. I mean it would be cool if Buffet and Moore, etc. went to some of these places and picked several poor people they are impressed with and just gave them money to totally change their life.

Money doesn't really change people's lives. Their own decisions and ideas change their lives. For the most part, it has to be self-generated.

Rich folks are charitable because it's in their own self interest to be charitable. And if they wanted to "do more," they would definitely not involve the IRS or the federal government in that effort. Rich folks in general have spent their lives figuring out how to do things as efficiently as possible. Cutting out waste and inefficiency has been the means by which they defeated their competitors and accumulated their millions or billions. In short, it's not just because the IRS cannot accept more than what is owed to them that rich folks give charitably. They give charitably because it suppresses resentment. The Bill and Melinda Gates foundation helps keep the envious masses at bay. Warren Buffet's EXTREMELY publicized opinion that the federal government should tax him more serves the same purpose.
 
Whose to say they aren't?

LOL...if they were, they wouldn't bitching about not paying enough taxes.





Yeah, they do! My sister is a Civil Service insurance claims processor...files her federal tax returns every years same as everyone else.

You can't pay tax money, with tax money and claim your paying taxes.





apdst,

Have you ever heard of Series EE, HH or I savings bonds? Simple federal monitary instruments used to generate revenue for the Treasury while providing long and short-term investment options for the general public. And that's just one revenue source available by the government. There are others.

Why the stealfromus bills that need to raise taxes, so we can, "create jobs"? Hmm?
 
Just think Al Gore created the Internet.:mrgreen:

Where would Jeff Bezos be without the internet?

You still believe that Al Gore created the internet? :lamo
 
Most of these people will not likely pay more taxes with the taxes being proposed. Their money come from Capital gains but we have had this arguement over and over but we will likely beat it to death again.

Buffett did say that he should be taxed more and to do that you have to go after Capital Gains. When Obama proposed new taxes Buffett stated that what he was doing was not what he was proposing.

Without specifics this discussion goes nowhere.

The temporary tax break for capital gains expires next year:

"After 2012, dividends will be taxed at the taxpayer's ordinary income tax rate, regardless of his or her tax bracket.

After 2012, the long-term capital gains tax rate will be 20% (10% for taxpayers in the 15% tax bracket).

After 2012, the qualified five-year 18% capital gains rate (8% for taxpayers in the 15% tax bracket) will be reinstated."
Capital gains tax in the United States - Wikipedia, the free encyclopedia
 
You still believe that Al Gore created the internet? :lamo
He didn't develop the technology, he saw the potential that a military system (ARPANET) would have if the public had access. He secured the initial funds what they initially called the information super highway and what we now call the internet.


Al Gore and information technology - Wikipedia, the free encyclopedia

Al Gore served as the Vice President of the United Statesfrom 1993–2001. He is the co-winner of the 2007 Nobel Peace Prize. In the 1990s he promoted legislation that funded an expansion of and greater public access to the internet.​
 
He didn't develop the technology, he saw the potential that a military system (ARPANET) would have if the public had access. He secured the initial funds what they initially called the information super highway and what we now call the internet.


Al Gore and information technology - Wikipedia, the free encyclopedia

Al Gore served as the Vice President of the United Statesfrom 1993–2001. He is the co-winner of the 2007 Nobel Peace Prize. In the 1990s he promoted legislation that funded an expansion of and greater public access to the internet.​


Riiiiiiiiiiiiiiiiiiiiiight! :lamo
 
People who think government spending can't create jobs should ask Boeing about that.

Or Lockheed-Martin.

Or Halliburton...


"Oh but that money came from citizens!"

What's that? So what are those citizens supposed to do with that money? Oh... SPEND it. Creating demand. Weird, when you guys talk about "job creators" you always seem to forget about that demand side of the equation.

Anyway. Government is different than the citizens. The government can borrow money at lower interest rates and in higher volumes than you can. During a recession when nobody is spending money and therefore no demand exists to justify job creation, the government can borrow the sum of money required to shore up some of that demand.

The government has spent over a trillion dollars, "creating demand". How has that worked out so far?
 
The government has spent over a trillion dollars, "creating demand". How has that worked out so far?

Well GDP is in positive territory and proposals coming out of the White House are funded unlike the previous occupants of the White House who had a penchant for unfunded proposals. Like the lame 2003 678 billion dollar jobs proposal.
 
The temporary tax break for capital gains expires next year:

"After 2012, dividends will be taxed at the taxpayer's ordinary income tax rate, regardless of his or her tax bracket.

After 2012, the long-term capital gains tax rate will be 20% (10% for taxpayers in the 15% tax bracket).

After 2012, the qualified five-year 18% capital gains rate (8% for taxpayers in the 15% tax bracket) will be reinstated."
Capital gains tax in the United States - Wikipedia, the free encyclopedia

Pretty damn good rates when compared to regular income is it not?
 
The government has spent over a trillion dollars, "creating demand". How has that worked out so far?

Pretty damn good. We were on the verge of a total economic collapse and Great Depression II. Strong action prevented that from happening.
 
Riiiiiiiiiiiiiiiiiiiiiight! :lamo

The Goracle flunked Sunday School at Vanderbilt but was the visionary behind the internet......that is hysterical. :lamo
 
Well GDP is in positive territory and proposals coming out of the White House are funded unlike the previous occupants of the White House who had a penchant for unfunded proposals. Like the lame 2003 678 billion dollar jobs proposal.

What? BO has three straight years of deficits over $1.2 trillion and you called that "funded". :lamo
 
The Goracle flunked Sunday School at Vanderbilt but was the visionary behind the internet......that is hysterical. :lamo

What exactly does one have to do with the other?
 
You can't pay tax money, with tax money and claim your paying taxes.

I guess I should demand my money back from both the State of Alabama and the federal government since I've been a state employee for 10 years and was on active duty in the Navy for 16 years prior and in both cases have filed my state AND federal income taxes every year for the last 26 years!

You, sir, have no idea what you're talking about here.

Why the stealfromus bills that need to raise taxes, so we can, "create jobs"? Hmm?

Selling government financial instruments like bonds won't make up the difference in lost revenue from lower employment numbers or the tax subsidies the Treasury pays out. Bonds are just one way the government makes money but bonds alone will never generate the kind of money the federal government needs to pay the salaries of its employees include members of Congress and the President or provide the services it does to the public. I'm sure your response to this will be "limit/reduce the size of government" but firing people or closing federal offices alone WILL NOT solve our nation's debt and deficit problems.
 
you're moving the goalposts.

I said that civil servants pay taxes. you responded, claiming they do not....which is of course a blatant lie.

nevermind the fact that some civil servants are paid from capital bonds and NOT tax-revenue.

That's a large part of how most states make their revenue. It's not just through taxation. Municiple bonds play a key role in state revenue and is one of the main reasons why so many states are having financial problems right now. When the economy tanked in 2008 it took the municiple bond market with it. Why do you think so many 401K plans lost their value during the crisis especially those funded by state governments?

Answer: Municiple bonds tanked!
 
I would never trust anyone who has the ability to freely give, but does not; instead calling for laws to enforce the act of themselves and others BEFORE doing so.
 
I would never trust anyone who has the ability to freely give, but does not; instead calling for laws to enforce the act of themselves and others BEFORE doing so.

Yeah.. It seems kinda shady and like a cry for attention or something. If you want to do more? Just frigging do it!
 
Sorry but it is not. You are talking about an anthill with more than 300 million ants on it and you are focusing on why one does or does not do something. Its silly... its nonsensical ...its inconsequential and its just plain meaningless.

based on that taxing the 400 or so billionaires more won't do much of anything to help then
 
All the same Buffetts arguement is that they should be more equal.

A 5% increase on Capital gains and a millionaire's surtax would go a long ways in that direction from where we are today, or any of the GOP tax plans.
 
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