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And the tax burden didn't shift from rich to poor. The poor aren't paying anymore in taxes then they were so you are wrong to say the burden shifted.
This is exactley what I was talking about in another thread. You see two things happening at the same time and from that believe you can conclude one caused the other. It is a naive, convenient, disingenuous type of thinking.
Because the rich pay proportionally more taxes, duh. That isn't some unfair system, that's math. And the tax burden didn't shift from rich to poor. The poor aren't paying anymore in taxes then they were so you are wrong to say the burden shifted.
Again depends on how you define fair. Personally I don't see it as fair for 10% of the population to be burdened with the bulk of tax revenues especially when their wealth insulates them from haveing to use many of the services those taxes pay for.
Yes it does.
It shifts to every person in America because in order for the superwealthy to enjoy those tax cuts American has had to go further into debt.
And with that debt a decline in the purchasing power of the dollar follows.
And the decline in the purchasing power of the dollar falls most heavily on those with fixed incomes and those living from paycheck to paycheck.
Did you really not know that, Bern?
Is this really news to you?
This is all spin. I could reply but then I know what you will reply and this will never end.
The poor rich people
Why is my conclusion wrong? The GOP is the party of the super wealthy and the Federal Reserve is owned by the super wealthy.
The same people that own the oil companies. Started by Rockafellor, JP Morgan and Carnege. Three ruthless businessmen.
What party do you think these families belong to? Who do they push/lobby to do away with the Death Tax?
FRB: FAQs: Federal Reserve System
Who owns the Federal Reserve?
The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.
what party they belonged to? last time i checked, they were all still dead.
FRB: FAQs: Federal Reserve System
Who owns the Federal Reserve?
The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.
As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."
The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
Who cares what party they belonged to? last time i checked, they were all still dead.
Yes it does.
It shifts to every person in America because in order for the superwealthy to enjoy those tax cuts American has had to go further into debt.
And with that debt a decline in the purchasing power of the dollar follows.
And the decline in the purchasing power of the dollar falls most heavily on those with fixed incomes and those living from paycheck to paycheck.
Did you really not know that, Bern?
Is this really news to you?
Tell me more about the private aspect.
Henry Ford: "It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
FOREIGN BANKERS OWN MAJORITY OF FEDERAL RESERVE
More that half the shareholdings in the Federal Reserve Bank are controlled by large New York City banks, including National City Bank, National Bank of Commerce, First National Bank, Chase National Bank, and Marine National Bank. When Rockefeller's National City Bank merged with J.P. Morgan's First National Bank in 1955, the Rockefeller group owned 22 percent of the shares of the Federal Reserve Bank of New York, which in turn holds the majority of shares in the Federal Reserve System - 53 percent. But who really owns what? Here are the top controllers of the Federal Reserve Bank
1. Rothchild banks of London and Berlin.
2. Lazard Brothers Banks of Paris.
3. Israel Moses Seif Banks of Italy.
4. Warburg Bank of Hamburg and Amsterdam.
5. Lehman Brothers Bank of New York.
6. Kuhn, Loeb bank of New York.
7. Chase Manhattan Bank of New York, which controls all of the other 11 Federal Rwerve Banks.
8. Goldman, Sachs Bank of New York.
Are you that intellectually dishonest that you believe this is really the case? The argument was did TAX burden shift to the middle class and poor because of the tax cuts to the wealthy. The answer is no, it did not. The middle class and poor did not wind up paying more taxes.
What you are stating is true as to the shrinking value of the dollar and its effect on people. The cause of it isn't. The tax cuts did not cause that. The high availablity and easy access to credit coupled with not curbing government spending (which Bush does deservedly get blame for) caused that.
Editec, here is what he isn't telling you. The rich got tax breaks and thus made a lot more money over the last 8 years. So of course that means more taxes go from the rich to the treasury.
Also, we make less today than we did 8 years ago. So, we pay less in taxes today than we did in the 90's.
Oh thank you George Bush! Oh thank you John McCain!!! Maybe we were wrong. I dind't realize I paid less in taxes when I stand in the mother fucking unemployment line!!!! How kind of the GOP!!!! Those kind considerate rich people have been picking up the slack for us losers all these years and I didn't realize it. What a schmuck I was.
Well..partial credit for that.
Remember the much ballyhooed Regan tax cuts?
Do you ALSO remember the Reagan tax INCREASES on Social security?
Apparently not.
If you want to respond to me, respond to me directly, not via someone else, chicken shit.
You continue to pile on the excuses. To recap: You said the tax burden shifted to the middle class and poor. By no measure is that true. Everyone under the Bush tax cuts received a tax cut. You piss and moan about this, but when you do the math one can only conclude that nothing short of the wealthy paying ALL of the taxes would satsify you.
Thanks for my $300 6 years ago George.
And I was talking to Editec, not you.
And you are a house slave.
Tell me more about the private aspect.
Henry Ford: "It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
FOREIGN BANKERS OWN MAJORITY OF FEDERAL RESERVE
More that half the shareholdings in the Federal Reserve Bank are controlled by large New York City banks, including National City Bank, National Bank of Commerce, First National Bank, Chase National Bank, and Marine National Bank. When Rockefeller's National City Bank merged with J.P. Morgan's First National Bank in 1955, the Rockefeller group owned 22 percent of the shares of the Federal Reserve Bank of New York, which in turn holds the majority of shares in the Federal Reserve System - 53 percent. But who really owns what? Here are the top controllers of the Federal Reserve Bank
1. Rothchild banks of London and Berlin.
2. Lazard Brothers Banks of Paris.
3. Israel Moses Seif Banks of Italy.
4. Warburg Bank of Hamburg and Amsterdam.
5. Lehman Brothers Bank of New York.
6. Kuhn, Loeb bank of New York.
7. Chase Manhattan Bank of New York, which controls all of the other 11 Federal Rwerve Banks.
8. Goldman, Sachs Bank of New York.
I was pretty young then so I really can't say that I 'remember' them. Unlike Bush however I believe Reagan was a bit more of fiscal conservative. Tax cuts are really the only comparison I believe that can be made between Bush and Reagan. Many of the other variables were so different (economic growth, government spending) different that I don't see how the two really could equate.
What will be the consequences of Obama raising taxes on the top 5% (why not top 10%?)? Has Obama answered the effects on jobs, inflation, and whether it will increase or decrease government revenue?
Back before Regan took office the Social security tax rate was 2% for employees.
Now its about 7.5% or so, isn't it?
Now I don't entirely blame Reagan for increasing those taxes because the system (thanks to COLAs) was going broke, but understand that the working class had huge tax increases because of social secuirty while at the same time the wealthy had huge offsetting tax cuts to their Federal taxes.
As I recall thanks to Regan, my paychecks actually got smaller, because of his so called tax cuts.
Had I been making a lot of money at the time, I'd have enjoyed an increase in money I kept, of course.
Class warfare has been around a long time, dude.
