Bill Whittle on Taxing the Rich

Discussion in 'Politics' started by martybegan, Apr 1, 2011.

  1. martybegan
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    martybegan Gold Member

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    Video from Bill Whittle on Taxing the rich:

    [ame=http://www.youtube.com/watch?v=661pi6K-8WQ&feature=player_embedded]YouTube - EAT THE RICH![/ame]

    Original Print version from iowahawk for those who hate video (or bill whittle)

    iowahawk: Feed Your Family on $10 Billion a Day

    Puts the whole soak the rich philosophy into perspective, and this is just the FEDERAL BUDGET.
     
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  2. WillowTree
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    WillowTree Diamond Member

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    :clap2::clap2:
     
  3. onecut39
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    onecut39 VIP Member

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    That says nothing about how little people of little means pay. It merely highlights how little they have. It says reams about the incredible amount of money that has been redistributed to the rich.

    They say that the top 20% ( and most of this is in the top 10%) of the people now have 3 trillion bucks lying around fallow, doing nothing but lying in unproductive accounts. Meanwhile their taxes have been slashed, while they have produced none of the promised jobs and benefits.

    The corporations, who the link says were sucked dry, have 2 trillion in equally fallow, unproductive accounts while their profits are at all time highs.

    It is difficult to "suck dry" via taxes when taxes are not paid. Over 60% of fortune 500 companies pay no federal tax at all. A great many of these receive subsidies and/or refunds.

    For example, Exxon Mobile made 30 BILLION in profits, paid no federal while receiving millions in refunds. (And in subsidies) They are just the worst of the offenders.

    Meanwhile middle class income is steadily shrinking.

    Forgive me if I cannot find reason to cry for the wealthy.
     
  4. martybegan
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    martybegan Gold Member

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    You miss the point. The point is even if you take the 3 trillion lying around doing nothing YOU STILL HAVENT PAID FOR A WHOLE YEAR OF THE FEDERAL GOVERMENT. Then next year you have even less to try to take from them.

    What this is saying is that even if you took as much of the "wealthy" money away from the wealthy, you still are short what you want to spend, and that is just at the FEDERAL level.

    but go ahead and keep ignoring the big picture.
     
  5. onecut39
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    onecut39 VIP Member

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    Tax cuts for the wealthy cost us over 800 billion a year. Each and every year.

    Tax avoidance by Corporations cost us at least that much. Each and every year.

    That would still leave all the "wealth where it is. The US does not tax wealth, it taxes income.

    Iraq and Afganistan cost us over 200 billion a year. Each and every year.

    Now add Libya.

    Big picture you say?
     
  6. martybegan
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    martybegan Gold Member

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    Where is your source for the $800 billion a year? From my recollection the bush Tax cuts cost at most $2 Trillion over the years 2001-2010, which averages 200 billion per year, which is 20 days of federal revenue.

    Second, go ahead and close all those tax loopholes, just be ready for the price increases that will come on all goods, as the compaines will still try to make the same amount of money.

    Last, 200 Billion is 20 days of federal spending at current rates. a drop in the bucket.

    Still missing the point.

    Edit: found link, even people who agree with you call it $700 billion over 10 YEARS, not $800 billion per year. Thats 7 days of federal spending.

    http://wealthforcommongood.org/campaign/reverse-the-tax-cuts/
     
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    Last edited: Apr 1, 2011
  7. WillowTree
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    WillowTree Diamond Member

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    No one asked you to cry for the wealthy.. GE and obie wan are joined at the navel GE paid zero in taxes,, so cry me a river.
     
  8. Bern80
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    Bern80 Gold Member

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    Yes big picture. And people like you will never ever see it. Democrats love people like you. People that actually argure FOR having more of their own money taken away and given to government. People who argue about taxes and who should pay them as if we'll all just shrivel up and die if government doesn't spend 5 trillion dollars every year. People like you who piss and moan about how much someone else has to pay in taxes as if it actually has somethig to do with how much money you have or have the potential to make.
     
    Last edited: Apr 1, 2011
  9. waltky
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    waltky Wise ol' monkey Supporting Member

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    Here's why the rich need to pay more taxes...

    ... they either run or own companies or shares in companies that get tax breaks for outsourcing jobs to other countries...

    ... those foreign employees who get those jobs then do not pay taxes into our system...

    ... so the candle is being burnt at both ends which is part of the reason we're in the financial mess we're in.

    Countries like China, India, So. Korea are doing pretty good now, so they no longer need the outsourcing edge...

    ... so let the rich make up the difference in lost tax revenue to help pay off the debt and quit whining about a lower corporate tax rate.
    :clap2:
     
    Last edited: Apr 11, 2011
  10. auditor0007
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    auditor0007 Gold Member

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    Nobody is suggesting we take away all the wealth from the wealthy. And for God's sake, we aren't that stupid to think that the wealthy only include those in the Fortune 500. There is no doubt that spending must be cut, but the wealthy need to pay a bigger share also. They are the only ones to have reaped any rewards from the tax cuts of the last thirty years.

    The funny thing about all this is that the alternative is to continue on the current path, where the wealthy continue to accumulate even more wealth while the middle class disappears. Once that happens, then you will see your revolution. I guarantee you if that time comes, the wealthy won't have to worry about just trying to protect their wealth.
     

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