What will "taxing the rich" actually fix? Or accomplish?

Discussion in 'Politics' started by bucs90, Sep 20, 2011.

  1. bucs90
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    bucs90 Gold Member

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    So lets say we raise taxes, for example, 20% on all rich people, by Obama's definition over 250K, including all businesses that had 250K total worth.

    What will it fix? So that money is taken out of the private sector, and put into the pockets of government. Then what? It's dispersed out to poor people? Put into infrastructure? Simply put towards the debt? Used to hire even more bureaucrats? That money would have ended up somewhere anyway. So why even insert a middle man (government) to take it, then dispense it, rather than let the private citizens disperse it themselves?

    What will "tax the rich" fix? Poor people will still be poor. Hungry people still hungry. Ugly people still ugly. Crazy Arabs are still gonna want to bomb us. Our borders will stay open. People are still gonna bitch about inequality.

    What is it truly gonna fix?

    The only way we'll "fix" our country is:

    1- Stop acting like damn victims all the time
    2- Realize globalism won out, so we'll have to work as hard as foreigners do now, for less money and benefits. Reality is here.
    3- Spending more than taken in is bad math.
    4- No one owes you or I anything. Only our individual efforts will give us hope.
    5- There is a place for morality in America. Tolerance of all things isn't good. We need norms and standards for society.

    So, go ahead Obama. Tax the rich. And it wont do anything.
     
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  2. AquaAthena
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    AquaAthena INTJ/ INFJ

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  3. Contumacious
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    Contumacious Radical Freedom

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    That's stupid question. It will accomplish a lot.

    Obama will impress the parasites, the tax consumers and the gullible.

    Those three groups vote early and often.

    Obama will win a 2nd term.

    'nuff said.

    .
     
  4. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Not a damn thing. There aren't enough of them to make any difference. It's just Obama bloviating.
     
  5. Maple
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    Maple Senior Member

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    The only thing it will accomplish is to INCREASE unemployment. The rich won't buy the Yacht, the yacht builder goes out of business and lays off all of his employees.It's that simple, but that's how it works, the more money that government takes from ANYONE, the less they will SPEND, SAVE AND INVEST in the private sector, and the private sector is the bill payer for the nation.

    It's also socialism from the ( Socialist in Chief) Obama.

    " Socialism is the philosophy of failure, the creed of ignorance, the gospel of envy, it's only virtue is the shared equality of misery." Winston Churchill

    " The problem with socialism is that you eventually run out of OTHER people's money." Margaret Thatcher.
     
  6. francoHFW
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    francoHFW Platinum Member

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    The WB, the IMB, and everyone else expert says Obama wants to do all the right things. Thank god A-hole Pubs are here to do the politically corrupt thing...much like global warming: the new Luddites...
     
  7. ladyliberal
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    ladyliberal Progressive Princess

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    Firstly, I don't think Obama is proposing exactly the tax you pose. However, he is proposing raising taxes on people with high incomes. What will it accomplish?

    -- In the absence of increased spending, the higher tax revenues will decrease the deficit. This will decrease the amount we need to pay in the future, and lower interest costs.

    -- Higher taxes will reduce the amount of money people have now. That's bad, but there's no way to immediately increase the amount of wealth people have without increasing the deficit. That does seem to be part of the reason Obama wants to schedule tax increases in advance, giving the economy more time to improve.

    No, of course higher taxes on the wealthy aren't a panacea. They are a hard tradeoff, but one that we need to make eventually. To address the original poster point by point:

    1) I don't know how to translate this into economic policy
    2) This seems overly pessimistic. American per capita GDP seems destined to stay dramatically above the world average for the foreseeable future.
    3) Deficits are bad in the long term, but can make sense in the short term. Just as the farmer spends continuously year round even though his or her income comes during harvest time, the government can run deficits during lean years if it commits to generating surpluses during the fat ones, like it once did.
    4) I disagree. We all have moral responsibilities to others. And this leads us to...
    5) I agree. Morality is a necessary part of society, now as ever.
     
  8. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    It will make everyone poor.

    Well, everyone except the policitians who already have their money and can make more of it through corruption.

    And since everyone else will be poor, they will have alot easier time keeping their power won't they?
     
  9. The Rabbi
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    The Rabbi Diamond Member

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    They will accomplish energizing his leftist base. They will accomplish framing the tax debate as a matter of class warfare. They will accomplish paying off the unions for their support. They will accomplish helping him get re-elected.
    As for actual policy? It won't do shit. It will be yet another failed program in a long series of failures. High income people have the means and motivation to shield their income. Watch if this goes through how many millionaires suddenly disappear into the woodwork.
     
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  10. rdean
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    rdean rddean

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    Why do you care? You're not rich. In fact, we all know that you have to pay your electric bill in installments.
     

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