what do y'all think about this?

Discussion in 'Economy' started by pgh009, Nov 2, 2008.

  1. pgh009
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    pgh009 Rookie

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    Recently on facebook some "friend" came up on my live feed saying that exxon's taxes should be raised because they were the most profitable business.

    Then I changed my status to "I think that we should raise the taxes on exxon so that they can raise the gas prices so the poor people can pay the rich people's taxes. smartass."

    he then sent me the message

    "That status was to piss off a friend. Smartass.
    Lol"

    so wanting to know more i replied

    "well it was a stupid statement"

    him

    "Stupid constitutes uneducated. I am not uneducated."

    me

    "well A. you are uneducated to the fact that your proposition would worsen the situation
    B. look stupid up in the dictionary, it has nothing to do with education. it means lacking keenness of mind, dull, foolish, and due to lack of thinking or sense

    so yeah, the idea is stupid
    tax rich people so that they can in turn raise the price of goods that they sell making the poor people more poor

    that's what democrats do make the poor people stay poor.
    look up the ten cities with the highest poverty rate and 8 out of 10 of them have had democrat mayors for over 20 years or never even had a republican mayor. the other 2 have had one for at least ten.

    If the democrat's idea of how to tax people was smart don't u think that at least some of the cities would get out of so much poverty?

    Democrat's logic = STUPID"

    him

    "It wasn't a proposition at all. I only believe that taxing employees of the upper tax brackets would be fair, not the entire corporation. It was strictly a joke between myself and another friend. Have you ever taken micro or macro economics?

    I understand your logic and support you opinions. We all have our rights to those. You and I could spend days arguing each other's facts and opinions. However, I'll just save us both the time."

    me

    "constitute fair?
    tax people that make money so that more people that didn't take advantages of things put in front of them can stay lazy?
    that makes sense..."

    him

    "Have you ever taken a economics course? I suggest you do that. You'll have a better understanding of the entire situation."

    me

    "The fact is simple
    If you know so much about it then how about you give me a valid point of why i'm wrong?

    didn't think so"

    him

    "You're wrong because a simple review of econimic history will verify that when taxes are lower per capita on the higher tax brackets, economies go into recession. That's not only true in the US, but in other countries as well.

    When taxes are lower per capita on the lower tax brackets, such as the upper middle class and lower middle class, the US gross domestic product increases. This last quarter the US GDP decreased to another record low. 90% of economists will agree that this is due to the fact that lower classes are unable to invest their assets because they are making less money.

    When the lower classes have a lighter tax burden, they invest more of their assets and in the long run, the US GDP increases. I'm not talking about giving free money to every poor, lazy person on the street. They don't pay taxes anyway."

    me

    "So lower taxes(any group of people) = recession
    i'm sorry but i don't think that concept has any way of being proven

    GDP is how much is produced in the country. So when the upper middle and lower middle class has lower taxes the united states produce more? even if that made a lot of sense McCain plans to cut those tax brackets too.

    and when the lower class has a lighter tax burden they invest more? what do u think the upper class does when they get tax cuts? being that the general population of upper class makes better financial decisions i would say they would be more likely to invest a higher percent of their tax cuts than the lower class would.

    Example, my friend tim works tattooing people. If he gets a tax cut i can tell you right now that his money will go into clothes or something that will be worthless in a year.

    if my parents receive a tax cut 100% of it will go into investment firms.

    So let's keep the taxes low on both so that tim can buy 3/5ths of the shirts he would with a 1g tax cut and my parents can still invest their money."

    him

    "No. Wrong. Lower taxes does not equal recession. Go back and read what I wrote.

    GDP is what the country produces, but contains so much more than that. I suggest you look it up on wikipedia. It has a pretty good example.

    They do invest, but when those taxes are lower on the upper tax brackets, this usually correlates with lower interest rates because economies are in shambles. It's in the books! Therefore, the upper AND lower classes make less money off of most of their investments.

    Taxes aren't low on both right now. Look up "taxes per capita" and you'll see that the middle class is paying significantly more than the upper classes.

    Obama's plan only increases taxes on 5% of the population - those making 250,000 or more. The other 95% will receive a smaller tax cut. The taxation system involves several tax brackets. I'm sure your tattoo artist friend isn't even classified in those middle tax brackets, therefore he is an invalid example. If he makes more than $60,000 a year, then your point is valid and I'll admit defeat.

    We both have you opinions and justifications. I don't want to continue arguing with you. I'm confident that Obama will win the election and in 3 or 4 years, you'll see that the economy will be in much better shape, much like the economy under the Clinton administration. If it's not, write me back, and I'll admit you were right."

    me

    "maybe tim doesn't but the tattoo shop owner my friend ross makes 150 G's a year and i can promise that none of that will.

    "when taxes are lower per capita on the higher tax brackets, economies go into recession"
    yeah u said it"

    him

    "OH HIGHER TAX BRACKETS. That's what I said. You then replied with "So lower taxes(any group of people) = recession" That's incorrect."

    me

    "yeah if you lower taxes on any bracket your not causing an economic problem"
     
  2. editec
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    editec Mr. Forgot-it-All

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    Seems rude to interupt your debate with yourself.

    I think you're winning.
     

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