Revive Main Street by Taxing Wall Street

georgephillip

Diamond Member
Dec 27, 2009
43,536
5,105
1,840
Los Angeles, California
Instead of cutting the federal deficit, put more money into the pockets of average working families by expanding the Earned Income Tax Credit to include people earning up to $50,000 per year and reduce their income taxes to $0.

Exempt the first $20,000 from payroll taxes.

Pay 10% on incomes between $50,000 - $90,000/year.
Pay 20% on incomes between $90,000 - $120,000/year.
Pay 30% on incomes between $120,000 - $250,000/year

Make up the missing money by increasing the taxes on those responsible for causing our Great Recession:

"Make up the revenues by increasing taxes on incomes between $250,000 to $500,000 to 40 percent; between $500,000 and $5 million, to 50 percent; between $5 million and $15 million, to 60 percent; and anything over $15 million, to 70 percent.

"And raise the ceiling on the portion of income subject to payroll taxes to $500,000.

"It’s called progressive taxation."

Robert Reich
 
As many others have suggested, a flat tax of around 15% on every cent earned, without ANY write-offs would, (I think) be the way to go.
But without a little restraint in spending, and someone with the balls to tell these useless tits with their hands out to "fuckoff", it won't matter what convoluted taxing system you use to "get the rich".
 
As many others have suggested, a flat tax of around 15% on every cent earned, without ANY write-offs would, (I think) be the way to go.
But without a little restraint in spending, and someone with the balls to tell these useless tits with their hands out to "fuckoff", it won't matter what convoluted taxing system you use to "get the rich".
"Every cent earned" is the key phrase, I think.

What about unearned income?

It's my understanding the Forbes flat tax proposal, for example, would exempt FIRE sector income. (Finance, Insurance, Real Estate)

Any solution that doesn't reverse the widening divide between the rich and the rest of America won't revive the American economy.
 
Make up the missing money by increasing the taxes on those responsible for causing our Great Recession:
Yes...Let's tax politicians and bureaucrats at a rate of 90%.
Why Not Speculators?

"July 16 (Bloomberg) -- Why is Congress running away from a financial transactions tax?

"The intensifying struggle on Capitol Hill over revenue, spending and deficits, coupled with the widely felt, reckless behavior of Wall Street, would seem to provide an ideal atmosphere to debate a major source of new income that also helps to restrict rampant speculation.

"A bill to impose such a tax, introduced by Democrat Representatives Peter DeFazio and Peter Welch, is going nowhere.

"Apart from sporadic mentions at various Congressional hearings on the financial meltdown, this levy, with antecedents back to Abraham Lincoln and the Civil War, is a taboo subject."
 
Make up the missing money by increasing the taxes on those responsible for causing our Great Recession:
Yes...Let's tax politicians and bureaucrats at a rate of 90%.
Why Not Speculators?

"July 16 (Bloomberg) -- Why is Congress running away from a financial transactions tax?

"The intensifying struggle on Capitol Hill over revenue, spending and deficits, coupled with the widely felt, reckless behavior of Wall Street, would seem to provide an ideal atmosphere to debate a major source of new income that also helps to restrict rampant speculation.

"A bill to impose such a tax, introduced by Democrat Representatives Peter DeFazio and Peter Welch, is going nowhere.

"Apart from sporadic mentions at various Congressional hearings on the financial meltdown, this levy, with antecedents back to Abraham Lincoln and the Civil War, is a taboo subject."
Waaawaaawaaa.

What would work better is a tax on dingbats who profess that every human ill can be ameliorated with yet another tax.
 
Yes...Let's tax politicians and bureaucrats at a rate of 90%.
Why Not Speculators?

"July 16 (Bloomberg) -- Why is Congress running away from a financial transactions tax?

"The intensifying struggle on Capitol Hill over revenue, spending and deficits, coupled with the widely felt, reckless behavior of Wall Street, would seem to provide an ideal atmosphere to debate a major source of new income that also helps to restrict rampant speculation.

"A bill to impose such a tax, introduced by Democrat Representatives Peter DeFazio and Peter Welch, is going nowhere.

"Apart from sporadic mentions at various Congressional hearings on the financial meltdown, this levy, with antecedents back to Abraham Lincoln and the Civil War, is a taboo subject."
Waaawaaawaaa.

What would work better is a tax on dingbats who profess that every human ill can be ameliorated with yet another tax.
Or we could reinstate a military draft reserved for the richest 10% of Americans?
 
Selective equal treatment, support by wingers, AGAIN
If it's true the richest 1% of Americans have increased their share of the national income by about two percent (~37%-~39%) during the last two years would you call them selective or equal (or greedy)?

Not equality in outcome, you fucking idiot... equal treatment by government.... something you leftist winger tards love to spout, but not practice

Go play in traffic
 
Why Not Speculators?

"July 16 (Bloomberg) -- Why is Congress running away from a financial transactions tax?

"The intensifying struggle on Capitol Hill over revenue, spending and deficits, coupled with the widely felt, reckless behavior of Wall Street, would seem to provide an ideal atmosphere to debate a major source of new income that also helps to restrict rampant speculation.

"A bill to impose such a tax, introduced by Democrat Representatives Peter DeFazio and Peter Welch, is going nowhere.

"Apart from sporadic mentions at various Congressional hearings on the financial meltdown, this levy, with antecedents back to Abraham Lincoln and the Civil War, is a taboo subject."
Waaawaaawaaa.

What would work better is a tax on dingbats who profess that every human ill can be ameliorated with yet another tax.
Or we could reinstate a military draft reserved for the richest 10% of Americans?
Or maybe you could just get over your envy and greed.
 
Selective equal treatment, support by wingers, AGAIN
If it's true the richest 1% of Americans have increased their share of the national income by about two percent (~37%-~39%) during the last two years would you call them selective or equal (or greedy)?

Not equality in outcome, you fucking idiot... equal treatment by government.... something you leftist winger tards love to spout, but not practice

Go play in traffic
If the richest 1% of Americans have increased their share of national income by 2% during the greatest economic downturn since the Great Depression, it is NOT because of "equal treatment by government."
 
If it's true the richest 1% of Americans have increased their share of the national income by about two percent (~37%-~39%) during the last two years would you call them selective or equal (or greedy)?

Not equality in outcome, you fucking idiot... equal treatment by government.... something you leftist winger tards love to spout, but not practice

Go play in traffic
If the richest 1% of Americans have increased their share of national income by 2% during the greatest economic downturn since the Great Depression, it is NOT because of "equal treatment by government."

Who gives a shit?? It is a free society (except less so because of the policies supported by your ilk)...

But you, and your ilk, call for equal treatment by government ONLY when it suits you, and you fully support unequal treatment, when it suits you.... I.E. selective equal treatment...

Go up your daily intake of lead by about .357... right thru the palate... you'll do the world a favor and increase the average IQ in your neighborhood
 
Updated: AIN'T WE GOT FUN?
with my sincerest apologies to Richard A. Whiting, Gus Kahn, and Ray Egan



Bill collectors gather 'round and rather
Haunt the cottage next door
Men the grocer and butcher sent
Men who call for the rent
But within a happy chappy
And his bride of only a year
Seem to be so cheerful, here's an earful
Of the chatter you hear

Ev'ry morning, ev'ry evening
Ain't we got guns?
Not much money, Oh, but honey
Ain't we got guns?
The rent's unpaid dear
We haven't a bus
But smiles were made dear
For people like us

In the winter in the Summer
Don't we have guns?
Times are bum and getting bummer
Still we have guns
There's nothing surer
The rich get rich and the poor get children
In the meantime, in between time
Ain't we got guns?

Just to make their trouble nearly double
Something happened last night
To their chimney a gray bird came
Mister Stork is his name
And I'll bet two pins, a pair of twins
Just happened in with the bird
Still they're very gay and merry
Just at dawning I heard

Ev'ry morning, ev'ry evening
Don't we have guns
Twins and cares, dear, come in pairs, dear
Don't we have guns
We've only started
As mommer and pop
Are we downhearted
I'll say that we're not

Landlords mad and getting madder
Ain't we got guns?
Times are so bad and getting badder
Still we have guns
There's nothing surer
The rich get rich and the poor get laid off
In the meantime, in between time
Ain't we got guns?

When the man who sold 'em carpets told 'em
He would take them away
They said, "Wonderful, here's our chance
Take them up and we'll dance"
And when burglars came and robbed them
Taking all their silver, they say
Hubby yelled, "We're famous, for they'll name us
In the papers today

Night or daytime, it's all playtime
Ain't we got guns?
Hot or cold days, any old days
Ain't we got guns?
If Wifey wishes
To go to a play
Don't wash the dishes
Just throw them away

Streetcar seats are awful narrow
Ain't we got guns?
They won't smash up our Pierce Arrow
We ain't got none
They've cut my wages
But my income tax will be so much smaller
When I'm laid off, I'll be paid off
Ain't we got guns?
 
Waaawaaawaaa.

What would work better is a tax on dingbats who profess that every human ill can be ameliorated with yet another tax.
Or we could reinstate a military draft reserved for the richest 10% of Americans?
Or maybe you could just get over your envy and greed.
Why don't you explain why anyone should pay a 5 to 6 percent sales tax for purchasing life's necessities while Greedy T. Head can buy $100 million worth of Exxon derivatives and pay not one penny in sales tax?

Campaign donations?
 
What product does Wall street produce?
Once the stock is sold by a corporation then all the money from there on out is just made by stock trades which produce nothing except more money for more stock trades.

So mostly Wall Street just produces more money to trade more stock and no real product.
 
Make up the missing money by increasing the taxes on those responsible for causing our Great Recession:
Yes...Let's tax politicians and bureaucrats at a rate of 90%.
Why Not Speculators?

"July 16 (Bloomberg) -- Why is Congress running away from a financial transactions tax?

"The intensifying struggle on Capitol Hill over revenue, spending and deficits, coupled with the widely felt, reckless behavior of Wall Street, would seem to provide an ideal atmosphere to debate a major source of new income that also helps to restrict rampant speculation.

"A bill to impose such a tax, introduced by Democrat Representatives Peter DeFazio and Peter Welch, is going nowhere.

"Apart from sporadic mentions at various Congressional hearings on the financial meltdown, this levy, with antecedents back to Abraham Lincoln and the Civil War, is a taboo subject."

Because speculators weren't the primary cause of the Financial Crisis.
 
I'm having a hard time swallowing this. How could any honest person actually lobby an idea that would take 50, 60 percent away from someone who has taken a risk ie business, after that person has saved up money, laid every thing on the line, taken a chance, and then is penalized severely by a government that takes that same money and spends frivolously. It's incomprehensible.
 

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