Which is fine if it helps but I think if you want to spend money like that put it into the current systems, not a tax return.
I just find it amazing that if you add that with the free medical care they receive, they actually receive more in compensation from the government than they do their employer. You just hope those people work for something better rather than depend upon the government for life.
This is where liberals are just stupid. Totally stupid. How does the US become more competitive globally with higher taxes? How does the US attract the best and brightest investment managers when they aren't allowed to keep as much of their profits? How can stocks, which are valued by taking the present value of future earnings, rise in value when the government is taking more of the cash flows through higher taxes? How can the private sector make investment when the government is taking away potential rewards? Taxing carried interest is just a poke in the eye to wealthy fund managers that does absolutely nothing for the budget deficit. This is class warfare at its finest, folks. An idealogue run amok. And all of this to pay for poor people's failures in life -- I guess because people feel sorry for them. Can you say 'throwing good money after bad'? Take the money from the hard working winners and then dole it out to the pathetic losers who defaulted on their mortgages and caused all of this financial turmoil in the first place. Man, we are a nation of true morons.
President Obama admitted in an interview that a lower capital gains tax increased revenue. Now, they are raising the same capital gains tax in the name of "fairness". This is class warfare that is petty and cynical and contemptible. Does anybody know what happens to Republics when the masses vote themselves complete access to the Treasury?
That's pretty much what is happening. The inmates are running the asylum. Class warfare is an idiotic way to lead America. It punishes what has made us great, and rewards what has weakened us.
A lot of times I think you go over the top on your posts (even though I agree in principle), but I have to agree with your assesment about punishing what has made this country great. I've always believed you are what you make out of yourself and it sucks to see more and more of that being taken away. I don't fit into these upper tax brackets (YET), but that is my goal. To break out on my own and do my own thing.
My statement was in response to this: Someone cheering for an increase of somebody else's taxes is logically equivalent to someone cheering for a decrease in their own taxes. The original statement implied that a middle or lower class citizen should be chastised for wanting to increase the taxes of the upper class. My point was that logically you could make the same argument that the upper class should be criticized for wanting to lower their own taxes. So that originally implied criticism doesn't seem to be appropriate. Does that make sense? Perhaps, although I think valid arguments have been made beyond "it's best for me". I think there are likely valid arguments on both sides of the debate. I don't honestly know what I'd consider to be the most fair for everybody or the most beneficial for the country as a whole. But I'd rather error on the side of helping people and I don't recall ever being upset by the idea of someone getting money for food or health care that they didn't directly earn at the expense of someone else's Mercedez.
Again, these are mostly a return to the tax rates that used to be in effect. So it's not "more and more" being taken away. It was less being taken away for a while and now back to where it was a decade ago.
How is it punishing what made this country great when we are going back to tax rates we had in the 1990's (actually, lower) when this country was great? And lower than the 1940's through 1980's, when the country was also great?
I think increasing tax rates on rich people is just fine with me. They aren't the ones struggling...and frankly, they pay the lowest income taxes in the world here in the U.S. Let them move to Canada or Europe as TJ says they will and pay even more tax!!!! Seriously, when we had tax rates above 50% - it was smart to cut them. Ronnie was right about that. Don't tax over 50% of someone's paycheck or you kill incentive. But now....increase to 40% and who cares! Rich people are doing what with thier money? Playing the markets! Ha! You know what they will do with that money - they will buy poor peoples foreclosed properties and sit on them until they can sell them at a higher price. How do I know this - because that's what every person with cash in NYC is doing right now. They are all talking about buy up the cheap property. Not "investing" it. You can't always expect the burden of sacrafice to fall on the shoulders of the average Joe. It's time for the rich to contribute too and pay the piper a bit. In the end they benefit when the economy gets rolling. But to get the economy rolling we need an FDR spending program (New Deal) and support the banks. The money can come from those who have been accumulating it the last 20 years. They have plenty of it...since they won't invest in the banks, let them pay more on thier incomes.
It's a damn shame this country is populated with a number of people like you, with all due respect. You look down your nose at folks struggling to put food on the table and a roof over the heads of their family. "I'm sorry the majority of jobs lost during this downturn are worthless jobs held by worthless people who have no real skill." What an absolutely crap statement. You wouldn't beat your dog, but you'll say garbage like this. Honestly, I feel sorry for you. I have a six figure income myself, and I don't mind paying my fair share of taxes. It hasn't hurt us a bit.
So just to get this straight, when Bush lowers taxes on the top 5% its sound economics (even though it's not), but when Obama raises taxes on this same group (to 2000 levels) it's class warfare. You mention global competition. How about making public education better, college more affordable to more people, inner city and rural high schools up to par. If used correctly, and that admittedly can be a big if, this is an investment in America far more so than that vacation and S class that ignorant fool is complaining about.
Deckard if you read my earlier statements I too have a six figure income and have no problem paying my fair share of taxes. Key word being fair share not higher share, but fair share. Why should I chip in an extra $20-30K a year just because I've earned my job by taking care of business in high school, college and grad school. Frankly I feel those nights studying until 5 in the morning in grad school have earned me the right to spend that extra 30K a year as I see fit, whether it be on my wife and trips or on a lease for a bright yellow ferrari, that is my business I EARNED IT. Can I still take my wife on trips and buy cars sure, but why should I chip in more and take moeny I'd rather invest in my future child's bank accounts to pay for the poor who didn't take life upon themselves and do something about it. I had rich parents but still chose to do well in school and get an MBA and not go into the family business, you know what thats called.....its ambition. Yes I had a scholarship for college and worked 3 years after to pay for my MBA. People who want handouts don't have ambition, because if they did they'd work 2 or 3 jobs to make due. So stop making up excuses for why people aren't successful in life and stop trying to shoot people like me and traderjorge down for saying that isn't FAIR to tax the rich more because they have it. I'd gladly spend the money if it went to "better" our country, but sadly it goes to give bums more money and free healthcare, not much of it goes to schools. 47 Million uninsured and we must fix that because there is no such thing as a free hospital like Ben Taub or anything.
There are a lot of differences between you and I. My parents grew up poor during the Depression. My father was the first member of his family to get a degree. He was able to do that because of the GI Bill, which he earned, seeing combat in the Pacific. He worked 3 jobs when I was a kid, two outside of the university, eventually making enough that he didn't have to, becoming a department chair in his 30's. With time, he became one of the highest paid professors on campus, with a large income from consulting added to that. He spent his summers working for USAID overseas, teaching faculty at universities in countries as diverse as India, Nigeria, Pakistan, Algeria, and Bangladesh. He was a liberal man in conservative Southeast Houston. If he had ever heard me say what I quoted from you, he would have slugged me. And I am not kidding.
Really you're father had it made compared to my father. My father is 68, one of nine children of a taxi driver in Yugoslavia. He came to Houston at the age of 18 and worked odd jobs you wouldn't believe from janitor to hot dog salesman. He eventually worked a gig as a jewelry salesman once he spoke english well and save up and started buying game rooms which were big in the late 60's and 70's. Slowly he began selling his game rooms and buying McDonalds franchises. America was much easier to make a living back then but you know what eh still had an unreal drive to get where he is today. He worked multiple jobs at once and that's something most obama nuts are not willing to do today. I'd like to see any of the people who voted for Obama go to Yugoslavia, rent a bedroom in an old couples house and learn the language and become succesful within 15 year or arriving. Until then they are mostly bums with a few hard workers sprinkled in. Deckard you will get no sympathy from me. I'm in my 30's and I'm not a kid, I just know success will come to you if you're smart, have a skill, and work hard. People who aren't smart and still work hard are few and far and if those don't people don't make then that's a travesty, but sadly most truly hard workers do make it.
It's fair because our tax system is progressive. Meaning on the first 30K you earn, you pay the same tax as anyone else. The rate changes on incremental dollars. It's fair because you don't have to spend as much of your money on the basic needs to survive as someone who makes less. It's fair because someone who works twice as hard as you but makes half of what you do still deserves to have a decent life. If you don't think that's fair you can vote republican, that's your choice. But you might want to think twice because your republican friends lost us ALL a lot of money by deregulating the banks and causing this catastrophe in the first place.
We can fight all day about who caused the problems. Whether it be the dems since taking office in 2006 or whether it was Bush. Fact is as the senator said on CNN the other day, Obama has spent more in his 34 days in office than bush spend in the last 7 years. It's not exactly like democrats save us all money, they just save poor people money and republicans save rich people money. The majority of Americans are poor so they try to hate republicans, but fact is the rich create most of the jobs you see around you. When a guy making $30K a year creates a business and employs 10 people who all live off him call me.
You really don't know what you are talking about, but it is pointless to argue with you. You truly haven't a clue, with all due respect.
What do you want me to say every american should make $100K a year and have a home in River Oaks? I ahte to burst bubbles but not every person can be succesful so I suppose to make the poor feel ok with things, we let them know that we will punish the rich by making them pay a higher percent of taxes. Everyone has their opinions, if people were rich they'd want their taxes to be lower. The majority is poor and they like thinking the top 5% will pay more in tax but when you see the trickle down effect caused by that you are going to cry. Like I've said a million times, the rich have standards by which they operate, if a business owner wants to take home $300K a year, under Obama's new plan he's going to pay about $20K more annually, ah well thats just 1 employee he can fire and make due without. You see that 1 employee from every small business really adds numbers to the unemployment line. Workers truly do not understand they are merely a luxury and at worst, the owner fires one and the rest of the people pick up the slack. End result owner makes the same money. I truly don't understand I guess. Especially when businesses are hammered as it is, hiring more people isn't a priority but trimming the fat off existing payroll is. My job is safe, I could care less but good luck to the rest of Americans working jobs at small businesses of any sort, and there's 27M small businesses to be exact.
