Hedge Fund Gamblers Earn the Same In One Hour As a Middle-Class Household in 47 yrs

Re: Hedge Fund Gamblers Earn the Same In One Hour As a Middle-Class Household in 47 y

leftofabbie said:

Well, federal tax rates are at their lowest in 60 years, so we're leaving a lot of potential tax revenue on the table. That said, I agree we have a spending problem, particularly spending on the wrong stuff (e.g., unnecessary wars).

Click to expand...

You think $2.5T in total federal tax revenue isn't enough? There's more on the table, so the federal government should scoop that up, too? Just how much of the citizen's money do you think the federal government should take?

Anyway, back to spending...why limit spending reductions to the things you don't like? Everyone has their pet peeves. Personally, I think there should be an across-the-board reduction in federal spending. Pick a percentage (5%, 10%, etc.) and apply it to ALL government spending...not just the ones you happen to hate. I think that would be a better place to start and then AFTER we've tightened the government belt, we can talk about scooping more money off the table.

Re: Hedge Fund Gamblers Earn the Same In One Hour As a Middle-Class Household in 47 y

Mycroft said:

Personally, I think there should be an across-the-board reduction in federal spending. Pick a percentage (5%, 10%, etc.) and apply it to ALL government spending.

Click to expand...

So we treat the corporate welfare for oil investors in London and Tokyo the same as we do Social Security for American citizens?

Re: Hedge Fund Gamblers Earn the Same In One Hour As a Middle-Class Household in 47 y

washunut said:

To that point, it would be interesting to know how much of Buffett's wealth has never been taxed and due to good tax lawyering will NEVER be taxed. It must be great to have $40 billion doing all you can to avoid taxes for decades to be 81 years old and call for "Tax Fairness".

Click to expand...

People that rich want power and they want to be loved. Buffett pretends to take a position against his own interest which actually helps preserve his primacy while causing the slow witted to lick his boots

Re: Hedge Fund Gamblers Earn the Same In One Hour As a Middle-Class Household in 47 y

leftofabbie said:

So we treat the corporate welfare for oil investors in London and Tokyo the same as we do Social Security for American citizens?

Click to expand...

Yes.

I don't play favorites, dude.

Re: Hedge Fund Gamblers Earn the Same In One Hour As a Middle-Class Household in 47 y

Mycroft said:

Yes.

I don't play favorites, dude.

Click to expand...

Some would call that un-American, putting the profits of foreigners on equal footing as the well being of the American People.

Re: Hedge Fund Gamblers Earn the Same In One Hour As a Middle-Class Household in 47 y

Neomalthusian said:

How confident are you, really, that Democrats actually want to stick it to these rich folks? washunut's point is that politicians SAY what they need to say to win over voters, but we should do better to see through that BS and realize they are allied with the country's richest and most powerful.

Click to expand...

No one is sticking anyone but you WILL see those Bush tax cuts go away for the top bracket in December. Most Americans agree with this and alot of rich folks do too.
And remember no one has been on the side of the banks more than the GOP members of Congress, they have fought regulation at every turn.

Re: Hedge Fund Gamblers Earn the Same In One Hour As a Middle-Class Household in 47 y

Mycroft said:

You think $2.5T in total federal tax revenue isn't enough? There's more on the table, so the federal government should scoop that up, too? Just how much of the citizen's money do you think the federal government should take?

Anyway, back to spending...why limit spending reductions to the things you don't like? Everyone has their pet peeves. Personally, I think there should be an across-the-board reduction in federal spending. Pick a percentage (5%, 10%, etc.) and apply it to ALL government spending...not just the ones you happen to hate. I think that would be a better place to start and then AFTER we've tightened the government belt, we can talk about scooping more money off the table.

Click to expand...

What you call "scooping money off the table" is necessary to provide a Govt. that functions for all. And the rate of revenue to GDP is at its lowest since the 1970's. No western Govt. can function with 14% of GDP. We are looking at a $600 billion dollar cut in defense spending which is a good start, but without 18% of GDP we will still be in the hole.

Re: Hedge Fund Gamblers Earn the Same In One Hour As a Middle-Class Household in 47 y

iguanaman said:

What you call "scooping money off the table" is necessary to provide a Govt. that functions for all. And the rate of revenue to GDP is at its lowest since the 1970's. No western Govt. can function with 14% of GDP. We are looking at a $600 billion dollar cut in defense spending which is a good start, but without 18% of GDP we will still be in the hole.

Click to expand...

The good news is that tax collections are more like 18% versus the 14% you inaccurately cite. Stop stealing from the social security fund and that adds nearly another 1%.

Re: Hedge Fund Gamblers Earn the Same In One Hour As a Middle-Class Household in 47 y

iguanaman said:

We are looking at a $600 billion dollar cut in defense spending

Click to expand...

I wish that were true. Unfortunately the Republicans in Congress are working tireless to protect the defense budget and shift those cuts to working Americans. And Willard wants to add another $2.1 trillion in defense spending. God forbid he should be elected.