Morality of Wealth Redistribution

[hendrickL]

Very interesting topic...

 

[ba1614]

Like how the government subsidizes the oil companies? They receive money they didn't earn. Let's give that money back to the people who earned it: the taxpayers.

Stop having donor states give the taxpayer's money to states that receive it. In my state we give some of our hard earned tax dollars to other states, who haven't earned it.

Anybody who doesn't support these two things, isn't really serious about being against the redistribution of wealth.

HOW does gubmint subsidize Oil companies? Giving them TAX breaks to get the oil flowing? Producing revenue? Creating JOBS?

Tax breaks aren't giving them anything....but allowing them to KEEP their money to invest for commerce that affects the entire economy.

You Statists have alot to learn.

Because they give oil companies more breaks than they do most other industries. That's why. The oil industry isn't the only industry that creates jobs, and fuels (no pun intended) our economy.

I can't think of one other industry that gets as nice benefits from the government as the oil companies do. Now I'm not suggesting we take away people's earned money-I'm saying let's treat all industries on the same standard. The government showing preference for some industries over others isn't really an example of capitalism, if anything it's closer to another system that many people on the right bash (and rightfully so).

What benefit(s) and/or breaks do the oil industry get that others don't?

 

[Claudette]

I take the dennis miller view; I am all for helping the helpless, but not a dime for the clueless.

Some folks have a hard time getting it through their heads that Govt isn't here to take care of anyones individual needs.

Govt is here to run and protect the country and to deal with the issues to do just that.

Its not here to take money from those that earned it and give it to those that didn't.

Its not here to take care of an individual because they made stupid irresponsible decisionis in their lives.

Its not here to support freeloaders who are simply to lazy to take care of themselves.

As for corps and business getting tax dollars?? If you don't like it then get off your ass and do something about it. Call your congresscritters and tell them to get rid of tax loopholes, tax breaks and all subsidies. Its the Clowns in Congress who make those decisions.

 

[MarcATL]

Like how the government subsidizes the oil companies? They receive money they didn't earn. Let's give that money back to the people who earned it: the taxpayers.

Stop having donor states give the taxpayer's money to states that receive it. In my state we give some of our hard earned tax dollars to other states, who haven't earned it.

Anybody who doesn't support these two things, isn't really serious about being against the redistribution of wealth.

HOW does gubmint subsidize Oil companies? Giving them TAX breaks to get the oil flowing? Producing revenue? Creating JOBS?

Tax breaks aren't giving them anything....but allowing them to KEEP their money to invest for commerce that affects the entire economy.

You Statists have alot to learn.

What jobs do oil companies create?

How many?

Where are they?

 

[cutter]

Does all the money in the country belong to the Government? Is it theirs to distribute as they see fit? I always thought if you work hard and make money you can spend it as you see fit or save it and create wealth and be as rich as you are able too. Is it the Governments job to make me as rich as they feel I should be?

 

[rightwinger]

Isn't this the over-used line that claims that income inequality has something to do with standard of living, unemployment, and wages? Because it doesn't, income equality means that people are content to have bad wages, and never rise above their station.

Many are content with their lot in life. Others work two jobs to try to sustain a family, pay medical bills, afford a car and hopefully educate their children

Where income inequality comes in is where our society establishes rules that make it easier for the rich to accumulate wealth and more difficult for working Americans to maintain a basic standard of living

Guess who makes the rules?

 

[DiamondDave]

I LOATHE giving my tax money to moochers.

Especially moochers who charge $5 a gallon for gas

End all forms of entitlements from the government....

Hell.. it's all smoke and mirrors.... for power... use higher taxes to subsidize corn to make it cheaper... then blind side the tax payer again after it is made into ethanol or corn syrup by adding additional taxes to make those things more expensive...

And no, assholewinger.... there is not wealth redistribution going to the 'evil rich'... there is MUCH more of a system to take away from those who earn or who are successful.... and we CERTAINLY still do not see you calling for a system of equal % taxation on all, irregardless of income, on every dollar earned.... so your subjective 'fairness' approach is still duly noted

 

[Care4all]

The fact is that huge corps have huge amounts of money invested, and if they don't turn a decent ROI then that money goes elsewhere. And that in turn means less R&D, less expansion, fewer jobs created. Why is it okay for a little company with one million in revenue that makes $100,000 profit is okay but the trillion dollar company making the same 10% is pilloried?

Their investors ROI runs around 20-25 if memory serves................yes their return on investment is HUMONGOUS....

I can't even get a 2% return on my investment with the bank in a year....I was happy happy child when I was getting 5% return in interest on my CD's, this 1-2% return stinks BIGTIME (when my and your tax monies bailed them out.!)?

Can YOU make a 25% return each year on what YOU invest? Holy Moly, I'd be a millionaire if not billionaire if I had gotten those kind of roi's.on my investments all my working life.!


Here, i went and looked up their most recent ROI....i was a little off but it is still HUGE.

Return on equity (TTM)

23.00%

Return on assets (TTM)

10.90%

Return on investment (TTM)

18.90%


http://www.marketwatch.com/investing/stock/xom/profile

 

[NYcarbineer]

I don't believe in people getting their taxes lowered simply because they have children.

THAT is the single biggest redistribution of wealth that occurs in this country.

 

[DiamondDave]

I don't believe in people getting their taxes lowered simply because they have children.

THAT is the single biggest redistribution of wealth that occurs in this country.

Nor do I believe in handouts via involuntary contribution just because they have children

 

[JamesInFlorida]

HOW does gubmint subsidize Oil companies? Giving them TAX breaks to get the oil flowing? Producing revenue? Creating JOBS?

Tax breaks aren't giving them anything....but allowing them to KEEP their money to invest for commerce that affects the entire economy.

You Statists have alot to learn.

Because they give oil companies more breaks than they do most other industries. That's why. The oil industry isn't the only industry that creates jobs, and fuels (no pun intended) our economy.

I can't think of one other industry that gets as nice benefits from the government as the oil companies do. Now I'm not suggesting we take away people's earned money-I'm saying let's treat all industries on the same standard. The government showing preference for some industries over others isn't really an example of capitalism, if anything it's closer to another system that many people on the right bash (and rightfully so).

What benefit(s) and/or breaks do the oil industry get that others don't?

Since I've been asked this by a few people, I just respond to this post, rather than quote a whole bunch.

They tend to be taxed at a much lower rate for capital investments, than other companies.

 

[NYcarbineer]

Churches should not be exempt from property taxes. That is another massive redistribution of wealth.

 

[editec]

The banksters were FREE enough to load us with their toxic assets while retaining the assets they have that were not TOXIC.

How do we feel about that WEALTH REDISTRIBUTION?

 

[DiamondDave]

Churches should not be exempt from property taxes. That is another massive redistribution of wealth.

~50% of citizens are currently exempt from federal income taxes.... And some even get money BACK from the government when nothing was contributed... That is another massive redistribution of wealth

 

[M14 Shooter]

What's your opinion on the morality of taking money from those who earned it and giving it to people who haven't? Not talking about people who cannot earn their own money but rather those who choose not to.

Socialism is involuntary servitude
Involuntary servitude is a form of slavery.
Slavery is the antithesis of liberty.

There may be some moral obligation to provide charity for those that need it - but that's your choice to make, and no one has standing to force you to do so. In moral terms, charity, especially Christian charity, is meaningless when it is not derived from free will.

As for people that simply choose to not provide for themselves -- there's NO moral imperative to provide for them.

 

[M14 Shooter]

Churches should not be exempt from property taxes. That is another massive redistribution of wealth.

Only to people who must self-servingly redefine words in order to make a point.

 

[rightwinger]

Churches should not be exempt from property taxes. That is another massive redistribution of wealth.

~50% of citizens are currently exempt from federal income taxes.... And some even get money BACK from the government when nothing was contributed... That is another massive redistribution of wealth

The people who do not make enough to pay taxes....how much wealth are they accumulating? They are struggling to pay the rent, medical bills, raise children

How much do you think they have stashed away?

Now look at the 2% who control 40% of available wealth. How much do they have stashed away? How much do they shield from taxes?

 

[AquaAthena]

What's your opinion on the morality of taking money from those who earned it and giving it to people who haven't? Not talking about people who cannot earn their own money but rather those who choose not to. And can you recommend any books or writings on the subject?

Seems to me basic self worth is at least in part a reflection on your independence. Or at least contributing something, your own labor or time to your family or community. This country does not like freeloaders, and while there is a certain amount of leeway in tough times like we're in now, at some point opinions change.

So are we morally right to redistribute somebody else's wealth or deny people support in an effort to incentivize them to be more productive members of society?

"This country does not like freeloaders...."

This country is what made freeloaders. Our elected leaders since FDR. Our high taxes on the 50% that pay them, are the victims.

 

[Anachronism]

I don't believe in people getting their taxes lowered simply because they have children.

Agreed, but I'll take it to an even bigger level.... I don't believe in people getting their taxes lowered for ANY reason.

I am for a true FLAT TAX. A certain percentage (maybe 7-10%) of ALL "NEW" (I'll define that for you in a moment) INCOME. No deductions. No exceptions. If it's 7% and you make $1000 a year, you pay $70 in taxes. If you make $10 Million a year you would pay $700,000 in taxes. Very simple. Very straight forward. No complicated forms.

As for what I define as "NEW" INCOME.... that would be the value of all income and/or benefits (stock options, company vehicles, etc....) that you receive in a year which are not derived from money you, or someone else have already made and been taxed on. For example..... salary from a job, stock options, use of company vehicles, housing allowances, etc.... but not Investments, Capital Gains, Inheritances, etc.... because those things have already been taxed.

So, for example, let's say my weekly income ammounts to $1210. Currently there are all sorts of deductions before taxes, and after taxes I end up with about $750 in my paycheck. Under my system (assuming 7% Federal Tax and 5% State Tax), I'd pay $84.70 to the Feds, $60.50 to the State, have the $60 taken out for Union Dues, Medical, etc... and end up with $1004.80 since I'd have opted out of Medicare and Social Security. If I was stupid enough to opt into those programs it would probably be somewhere around $950 a week. That's a MAJOR difference.

Now, as to how the Fed would get to spend that money.... Real Simple. The CBO should come up with a projected tax income for the next fiscal year. Then reduce it by 10%. That should be the HARD CEILING on Federal Spending for the next fiscal year (INCLUDING ALL DEBT PAYMENTS and EXCLUDING ALL MEDICARE AND SOCIAL SECURITY COSTS). By Constitutional Amendment the Budget should not be allowed to exceed that number the CBO comes up with.

 

[uscitizen]

How about the morality of wealth?

What does the bible say about such things?

Good thing I am not a christian