Buffett and his taxes

[PoliticalChic]

What the hell does a corporate executive do? He plans how working people will earn money for him. Have you ever stopped to think what would happen if the ordinary working people all over the world stopped working and went on a hunger strike? Rich people and their antics make my rectum crave buttermilk.

If I'm not mistaken working people earn money for themselves when they have a job. You know money to pay bills and most have the HC payed for by their employer.

The workers on a hunger strike??

WOW you really need to try Fidel or Hugo.

You weren't here when the coal miners and railroad workers first unionized. That was the beginning of the American middle class. The Republican party has resented and attempted to undo it ever since.

Because of the goddam mess George W. Bush and his "Tax Cuts For The Wealthy" policies plus two wars made we are back to the scenario where working people will once again put their lives on the line if it becomes necessary. 'Course I wouldn't want to tangle with one of those mean CEO's...they hire others to do their fighting. You know...like the Mafia bosses.

Now, now, Campy...neither were you.

1. Early on Eugene Victor Debs was quite properly seen not as a radical but as a decent Democratic politician and labor leader. In 1884, he wrote an editorial for the Brotherhood of Locomotive Fireman, stating that the union “is not to antagonize capital. Strikes do that; hence we oppose strikes as the remedy for the ills of which labor complains.” Nick Salvatore, “Eugene V. Debs: Citizen and Socialist,” p.49.

2. The Pullman strike of 1894 changed Debs. The issues of the day included the 8-hour day, and in its cause, the members of the railway firemen were grumbling about the no-strike policy. Pushed by the new militancy, Debs declared that “the men of brawn and brain who produce” should be given “a just proportion of the proceeds.”

a. George Pullman, of sleeping car fame, had constructed a workers’ community in which he owned the land, the workers’ houses, and ran the churches; the sewage was pumped into Pullman’s farm to be used as fertilizer.

b. When the Depression of 1893 hit, wages fell on average by 33 to 50 percent. While Pullman deduced from the workers’ wages the costs of rent and water, library fees, and grocery bills, he refused to lower rents commensurate with the drop in wages.

c. Pullman banned the eight-hour day, saloons, and trade unions.


The truth is that the middle class has neither stagnated nor fallen back. The standard of living of same has continued to increase.

Need I do the math for you?

 

[Jarhead]

What the hell does a corporate executive do? He plans how working people will earn money for him. Have you ever stopped to think what would happen if the ordinary working people all over the world stopped working and went on a hunger strike? Rich people and their antics make my rectum crave buttermilk.

If I'm not mistaken working people earn money for themselves when they have a job. You know money to pay bills and most have the HC payed for by their employer.

The workers on a hunger strike??

WOW you really need to try Fidel or Hugo.

You weren't here when the coal miners and railroad workers first unionized. That was the beginning of the American middle class. The Republican party has resented and attempted to undo it ever since.

Because of the goddam mess George W. Bush and his "Tax Cuts For The Wealthy" policies plus two wars made we are back to the scenario where working people will once again put their lives on the line if it becomes necessary. 'Course I wouldn't want to tangle with one of those mean CEO's...they hire others to do their fighting. You know...like the Mafia bosses.

As you cointinue to ignore my responses as they present unrefutable logic that puts your illogical rants in the grave, I will respond anyway....

Bush never had tax cuts for the wealthy. He had tax cuts...and yes, the business owners enjoyed those tax cuts as well. Why shouldnt they? Are they not Americans like everyone else?

 

[Care4all]

NEW YORK (CNNMoney) -- Billionaire investor Warren Buffett this week showed a little more leg in his campaign to get Congress to raise taxes on the uber-rich.

In a letter to Republican Rep. Tim Huelskamp Tuesday, Buffett revealed that his adjusted gross income last year was $62,855,038 and that his taxable income was $39,814,784. Buffett said he paid $15,300 in payroll taxes.

Buffett also said his federal income tax bill came to $6,923,494, or 17.4% of his taxable income -- two points he revealed in a New York Times op-ed in August urging Congress to tax the wealthy more.

Buffett provided a copy of his correspondence with Huelskamp to CNNMoney's Poppy Harlow.

He said in an interview that the roughly $23 million difference between his AGI and taxable income was due largely to deductions he took for charitable giving and local taxes.

Two key reasons he only paid 17.4%, however, is because a lot of his income came from investments, which are taxed at a lower rate than wages, and because payroll taxes are assessed only on the first $106,800 of wages.

"People who make money with money are getting taxed at a far lower rate than people who make money by their own labor," Buffett told CNNMoney.

Warren Buffett made $62,855,038 last year - Oct. 12, 2011

1. Are you supporting the idea of raising capital gains taxes?

2. Do you realize that the money invested in stocks has already been taxed when generated from earnings....and will now be taxed a second time when an investment profit is realized?

the stock holder is only taxed on his profit when he sells the stock. HIS MONEY invested buyig the stock that was already taxed, is NEVER taxed again, only his capital gain of the investment he made is taxed, again, when he sells it.

he can hold on to these stocks for years or decades, while they go up up up in value, while paying no individual tax on that, year after year until he sells it....

this is/would be a tax haven for the stock holder....

 

[PoliticalChic]

The United States is the only industrialized country in the world where more than 500 companies make money off of sick people. Even after that we rank 37th in the world in general health and longevity. Wealthy people have continued to isolate themselves into an elite group which supports reps and senators who go to bat for their desires and have gathered at the top to collect their money. During my lifetime this country has done a 180 degree flip from what they were. 'Course I'm just 77.

you are confused.
The republicans are doing their best to ensure that no one is treated differently due to their success or failure.....you know...all men are created equal and should be treated equal.

Whereas the democrats have found a way to demonize the successful and get the less successful to vote for them as they promise to take from the successful and give to the less successful.

Recall...(paraphrased to sensationalize the point being made)

"vote for me and 95% of you will get a check in the mail from yours truly"

Ok...then let's tax ALL earnings at the same rate then whether it be through payroll or investment income.

Time for a lesson in economics.

Don't you wish to encourage investment? The NYTimes does.


"A basic tenet of American capitalism is that supply precedes demand, as can be see in the case of all airports being closed down: the long lines of people unable to get to their destinations is the demand that cannot be fulfilled. This is why entrepreneurs must be given a free hand to produce, to speculate, as the building of more and more airports will lower prices, increasing demand. This is especially true in the case of new technologies.

Both high taxation and over regulation place a damper on this freedom.

“The proceeds from these speculations? the capital paid for stocks and bonds ? may seem misspent. In the long run, the results are called infrastructure, and they are what economies are built on.”

“Many European postal systems, telegraph lines and railroads were built with government money, and sometimes with insufficient capacity. But in the United States, instead of burdening taxpayers, we sell investors the equivalent of high-priced lottery tickets each time one of these technologies arrives.”
On the Contrary - In Technology, Supply Precedes Demand - NYTimes.com

Want to withdraw your post?

 

[bitterlyclingin]

"Because of the goddam mess George W. Bush and his "Tax Cuts For The Wealthy" policies plus two wars made we are back to the scenario where working people will once again put their lives on the line if it becomes necessary. 'Course I wouldn't want to tangle with one of those mean CEO's...they hire others to do their fighting. You know...like the Mafia bosses."

When you levy a tax for a specific purpose, that tax just never seems to go away. We are still paying a tax today to fight the Spanish American War.
When Senator Bill Frist (R-TN) first brought the proposal to privatize Social Security to Senator Hillary Clinton (D-NY) she shrieked at him "You can't do that! The Government wouldn't have that money to spend!" So much for the "Lock Box"

 

[Jarhead]

If I'm not mistaken working people earn money for themselves when they have a job. You know money to pay bills and most have the HC payed for by their employer.

The workers on a hunger strike??

WOW you really need to try Fidel or Hugo.

You weren't here when the coal miners and railroad workers first unionized. That was the beginning of the American middle class. The Republican party has resented and attempted to undo it ever since.

Because of the goddam mess George W. Bush and his "Tax Cuts For The Wealthy" policies plus two wars made we are back to the scenario where working people will once again put their lives on the line if it becomes necessary. 'Course I wouldn't want to tangle with one of those mean CEO's...they hire others to do their fighting. You know...like the Mafia bosses.

Now, now, Campy...neither were you.

1. Early on Eugene Victor Debs was quite properly seen not as a radical but as a decent Democratic politician and labor leader. In 1884, he wrote an editorial for the Brotherhood of Locomotive Fireman, stating that the union “is not to antagonize capital. Strikes do that; hence we oppose strikes as the remedy for the ills of which labor complains.” Nick Salvatore, “Eugene V. Debs: Citizen and Socialist,” p.49.

2. The Pullman strike of 1894 changed Debs. The issues of the day included the 8-hour day, and in its cause, the members of the railway firemen were grumbling about the no-strike policy. Pushed by the new militancy, Debs declared that “the men of brawn and brain who produce” should be given “a just proportion of the proceeds.”

a. George Pullman, of sleeping car fame, had constructed a workers’ community in which he owned the land, the workers’ houses, and ran the churches; the sewage was pumped into Pullman’s farm to be used as fertilizer.

b. When the Depression of 1893 hit, wages fell on average by 33 to 50 percent. While Pullman deduced from the workers’ wages the costs of rent and water, library fees, and grocery bills, he refused to lower rents commensurate with the drop in wages.

c. Pullman banned the eight-hour day, saloons, and trade unions.


The truth is that the middle class has neither stagnated nor fallen back. The standard of living of same has continued to increase.
Need I do the math for you?

the line in bold.....the middle class has never had it better than they do now.

I grew up in a typical middle class environment. We had one TV in the living room of a small but well kept apartment....we had one car. I wore keds sneakers until the soles were worn out. I wore patches on my "dungarees"...I had a bike....a baseball mitt and a ball...that was my extracurricular "stuff".... we had fans, no AC...we had one phone number and 2 phones..one in the kitchen one in my parents bedroom.....

Now?

3 TV's per family of 4
2 cars per family of four
x-box
Nike's that are replaced when they get dirty
Designer jeans
A/C
3 cell phones per family of four.

Yeah...the middle class is struggling compared to what we had in the 60's.

 

[Jarhead]

NEW YORK (CNNMoney) -- Billionaire investor Warren Buffett this week showed a little more leg in his campaign to get Congress to raise taxes on the uber-rich.

In a letter to Republican Rep. Tim Huelskamp Tuesday, Buffett revealed that his adjusted gross income last year was $62,855,038 and that his taxable income was $39,814,784. Buffett said he paid $15,300 in payroll taxes.

Buffett also said his federal income tax bill came to $6,923,494, or 17.4% of his taxable income -- two points he revealed in a New York Times op-ed in August urging Congress to tax the wealthy more.

Buffett provided a copy of his correspondence with Huelskamp to CNNMoney's Poppy Harlow.

He said in an interview that the roughly $23 million difference between his AGI and taxable income was due largely to deductions he took for charitable giving and local taxes.

Two key reasons he only paid 17.4%, however, is because a lot of his income came from investments, which are taxed at a lower rate than wages, and because payroll taxes are assessed only on the first $106,800 of wages.

"People who make money with money are getting taxed at a far lower rate than people who make money by their own labor," Buffett told CNNMoney.

Warren Buffett made $62,855,038 last year - Oct. 12, 2011

1. Are you supporting the idea of raising capital gains taxes?

2. Do you realize that the money invested in stocks has already been taxed when generated from earnings....and will now be taxed a second time when an investment profit is realized?

the stock holder is only taxed on his profit when he sells the stock. HIS MONEY invested buyig the stock that was already taxed, is NEVER taxed again, only his capital gain of the investment he made is taxed, again, when he sells it.

he can hold on to these stocks for years or decades, while they go up up up in value, while paying no individual tax on that, year after year until he sells it....

this is/would be a tax haven for the stock holder....

he can hold on to it and not get taxed on the gains...yes....as you put it...as it goes up up up.....
But there is also a risk that it will lose value if he holds onto it.
Bottom line....it is just paper until he sells it....so to discuss taxes on it while it is still in possession as stock is rediculous.....

Bottom line....that stock has absolutely no value to the holder untilo it is sold.

 

[Jarhead]

The United States is the only industrialized country in the world where more than 500 companies make money off of sick people. Even after that we rank 37th in the world in general health and longevity. Wealthy people have continued to isolate themselves into an elite group which supports reps and senators who go to bat for their desires and have gathered at the top to collect their money. During my lifetime this country has done a 180 degree flip from what they were. 'Course I'm just 77.

you are confused.
The republicans are doing their best to ensure that no one is treated differently due to their success or failure.....you know...all men are created equal and should be treated equal.

Whereas the democrats have found a way to demonize the successful and get the less successful to vote for them as they promise to take from the successful and give to the less successful.

Recall...(paraphrased to sensationalize the point being made)

"vote for me and 95% of you will get a check in the mail from yours truly"

Ok...then let's tax ALL earnings at the same rate then whether it be through payroll or investment income.

Are you aware of what will happen if you discourage investing in companies?

So just to see if I understand....

You want someone to risk their money and get taxed at a rate of 34%?

And what if they lose it......should the taxpayer PAY him 34%?

 

[Cammmpbell]

If I'm not mistaken working people earn money for themselves when they have a job. You know money to pay bills and most have the HC payed for by their employer.

The workers on a hunger strike??

WOW you really need to try Fidel or Hugo.

You weren't here when the coal miners and railroad workers first unionized. That was the beginning of the American middle class. The Republican party has resented and attempted to undo it ever since.

Because of the goddam mess George W. Bush and his "Tax Cuts For The Wealthy" policies plus two wars made we are back to the scenario where working people will once again put their lives on the line if it becomes necessary. 'Course I wouldn't want to tangle with one of those mean CEO's...they hire others to do their fighting. You know...like the Mafia bosses.

Now, now, Campy...neither were you.

1. Early on Eugene Victor Debs was quite properly seen not as a radical but as a decent Democratic politician and labor leader. In 1884, he wrote an editorial for the Brotherhood of Locomotive Fireman, stating that the union “is not to antagonize capital. Strikes do that; hence we oppose strikes as the remedy for the ills of which labor complains.” Nick Salvatore, “Eugene V. Debs: Citizen and Socialist,” p.49.

2. The Pullman strike of 1894 changed Debs. The issues of the day included the 8-hour day, and in its cause, the members of the railway firemen were grumbling about the no-strike policy. Pushed by the new militancy, Debs declared that “the men of brawn and brain who produce” should be given “a just proportion of the proceeds.”

a. George Pullman, of sleeping car fame, had constructed a workers’ community in which he owned the land, the workers’ houses, and ran the churches; the sewage was pumped into Pullman’s farm to be used as fertilizer.

b. When the Depression of 1893 hit, wages fell on average by 33 to 50 percent. While Pullman deduced from the workers’ wages the costs of rent and water, library fees, and grocery bills, he refused to lower rents commensurate with the drop in wages.

c. Pullman banned the eight-hour day, saloons, and trade unions.


The truth is that the middle class has neither stagnated nor fallen back. The standard of living of same has continued to increase.

Need I do the math for you?

You are so full of shit that I smell you:

• 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
• 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
• 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
• 36 percent of Americans say that they don't contribute anything to retirement savings.
• A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
• 24 percent of American workers say that they have postponed their planned retirement age in the past year.
• Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
• Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
• For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
• In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
• As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
• The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
• Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
• In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
• The top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.
• In America today, the average time needed to find a job has risen to a record 35.2 weeks.
• More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
• or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
• This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
• Approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years.
• Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.• The top 10 percent of Americans now earn around 50 percent of our national income.

 

[Toddsterpatriot]

NEW YORK (CNNMoney) -- Billionaire investor Warren Buffett this week showed a little more leg in his campaign to get Congress to raise taxes on the uber-rich.

In a letter to Republican Rep. Tim Huelskamp Tuesday, Buffett revealed that his adjusted gross income last year was $62,855,038 and that his taxable income was $39,814,784. Buffett said he paid $15,300 in payroll taxes.

Buffett also said his federal income tax bill came to $6,923,494, or 17.4% of his taxable income -- two points he revealed in a New York Times op-ed in August urging Congress to tax the wealthy more.

Buffett provided a copy of his correspondence with Huelskamp to CNNMoney's Poppy Harlow.

He said in an interview that the roughly $23 million difference between his AGI and taxable income was due largely to deductions he took for charitable giving and local taxes.

Two key reasons he only paid 17.4%, however, is because a lot of his income came from investments, which are taxed at a lower rate than wages, and because payroll taxes are assessed only on the first $106,800 of wages.

"People who make money with money are getting taxed at a far lower rate than people who make money by their own labor," Buffett told CNNMoney.

Warren Buffett made $62,855,038 last year - Oct. 12, 2011

1. Are you supporting the idea of raising capital gains taxes?

2. Do you realize that the money invested in stocks has already been taxed when generated from earnings....and will now be taxed a second time when an investment profit is realized?

the stock holder is only taxed on his profit when he sells the stock. HIS MONEY invested buyig the stock that was already taxed, is NEVER taxed again, only his capital gain of the investment he made is taxed, again, when he sells it.

he can hold on to these stocks for years or decades, while they go up up up in value, while paying no individual tax on that, year after year until he sells it....

this is/would be a tax haven for the stock holder....

OMG! A person has some savings that the government can't touch....until he sells.
That's awful. Kill the greedy kulaks, eh comrade?

 

[Toddsterpatriot]

The United States is the only industrialized country in the world where more than 500 companies make money off of sick people. Even after that we rank 37th in the world in general health and longevity. Wealthy people have continued to isolate themselves into an elite group which supports reps and senators who go to bat for their desires and have gathered at the top to collect their money. During my lifetime this country has done a 180 degree flip from what they were. 'Course I'm just 77.

you are confused.
The republicans are doing their best to ensure that no one is treated differently due to their success or failure.....you know...all men are created equal and should be treated equal.

Whereas the democrats have found a way to demonize the successful and get the less successful to vote for them as they promise to take from the successful and give to the less successful.

Recall...(paraphrased to sensationalize the point being made)

"vote for me and 95% of you will get a check in the mail from yours truly"

Ok...then let's tax ALL earnings at the same rate then whether it be through payroll or investment income.

Excellent idea! 15% flat tax, regardless of source.

 

[Si modo]

What the hell does a corporate executive do? He plans how working people will earn money for him. Have you ever stopped to think what would happen if the ordinary working people all over the world stopped working and went on a hunger strike? Rich people and their antics make my rectum crave buttermilk.

If I'm not mistaken working people earn money for themselves when they have a job. You know money to pay bills and most have the HC payed for by their employer.

The workers on a hunger strike??

WOW you really need to try Fidel or Hugo.

You weren't here when the coal miners and railroad workers first unionized. That was the beginning of the American middle class. The Republican party has resented and attempted to undo it ever since. ....

If you were aware that a GOP dominated Congress passed the first laws for worker safety (Safety Appliance Act, 1893) - the seminal law for worker safety - then your post is beyond dishonest.

 

[Si modo]

You weren't here when the coal miners and railroad workers first unionized. That was the beginning of the American middle class. The Republican party has resented and attempted to undo it ever since.

Because of the goddam mess George W. Bush and his "Tax Cuts For The Wealthy" policies plus two wars made we are back to the scenario where working people will once again put their lives on the line if it becomes necessary. 'Course I wouldn't want to tangle with one of those mean CEO's...they hire others to do their fighting. You know...like the Mafia bosses.

Now, now, Campy...neither were you.

1. Early on Eugene Victor Debs was quite properly seen not as a radical but as a decent Democratic politician and labor leader. In 1884, he wrote an editorial for the Brotherhood of Locomotive Fireman, stating that the union “is not to antagonize capital. Strikes do that; hence we oppose strikes as the remedy for the ills of which labor complains.” Nick Salvatore, “Eugene V. Debs: Citizen and Socialist,” p.49.

2. The Pullman strike of 1894 changed Debs. The issues of the day included the 8-hour day, and in its cause, the members of the railway firemen were grumbling about the no-strike policy. Pushed by the new militancy, Debs declared that “the men of brawn and brain who produce” should be given “a just proportion of the proceeds.”

a. George Pullman, of sleeping car fame, had constructed a workers’ community in which he owned the land, the workers’ houses, and ran the churches; the sewage was pumped into Pullman’s farm to be used as fertilizer.

b. When the Depression of 1893 hit, wages fell on average by 33 to 50 percent. While Pullman deduced from the workers’ wages the costs of rent and water, library fees, and grocery bills, he refused to lower rents commensurate with the drop in wages.

c. Pullman banned the eight-hour day, saloons, and trade unions.


The truth is that the middle class has neither stagnated nor fallen back. The standard of living of same has continued to increase.

Need I do the math for you?

You are so full of shit that I smell you:

• 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
• 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
• 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
• 36 percent of Americans say that they don't contribute anything to retirement savings.
• A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
• 24 percent of American workers say that they have postponed their planned retirement age in the past year.
• Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
• Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
• For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
• In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
• As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
• The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
• Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
• In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
• The top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.
• In America today, the average time needed to find a job has risen to a record 35.2 weeks.
• More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
• or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
• This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
• Approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years.
• Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.• The top 10 percent of Americans now earn around 50 percent of our national income.

Provide the source for what you just posted. Otherwise, you are a plagiarist - a thief.

 

[Si modo]

You weren't here when the coal miners and railroad workers first unionized. That was the beginning of the American middle class. The Republican party has resented and attempted to undo it ever since.

Because of the goddam mess George W. Bush and his "Tax Cuts For The Wealthy" policies plus two wars made we are back to the scenario where working people will once again put their lives on the line if it becomes necessary. 'Course I wouldn't want to tangle with one of those mean CEO's...they hire others to do their fighting. You know...like the Mafia bosses.

Now, now, Campy...neither were you.

1. Early on Eugene Victor Debs was quite properly seen not as a radical but as a decent Democratic politician and labor leader. In 1884, he wrote an editorial for the Brotherhood of Locomotive Fireman, stating that the union “is not to antagonize capital. Strikes do that; hence we oppose strikes as the remedy for the ills of which labor complains.” Nick Salvatore, “Eugene V. Debs: Citizen and Socialist,” p.49.

2. The Pullman strike of 1894 changed Debs. The issues of the day included the 8-hour day, and in its cause, the members of the railway firemen were grumbling about the no-strike policy. Pushed by the new militancy, Debs declared that “the men of brawn and brain who produce” should be given “a just proportion of the proceeds.”

a. George Pullman, of sleeping car fame, had constructed a workers’ community in which he owned the land, the workers’ houses, and ran the churches; the sewage was pumped into Pullman’s farm to be used as fertilizer.

b. When the Depression of 1893 hit, wages fell on average by 33 to 50 percent. While Pullman deduced from the workers’ wages the costs of rent and water, library fees, and grocery bills, he refused to lower rents commensurate with the drop in wages.

c. Pullman banned the eight-hour day, saloons, and trade unions.


The truth is that the middle class has neither stagnated nor fallen back. The standard of living of same has continued to increase.
Need I do the math for you?

the line in bold.....the middle class has never had it better than they do now.

I grew up in a typical middle class environment. We had one TV in the living room of a small but well kept apartment....we had one car. I wore keds sneakers until the soles were worn out. I wore patches on my "dungarees"...I had a bike....a baseball mitt and a ball...that was my extracurricular "stuff".... we had fans, no AC...we had one phone number and 2 phones..one in the kitchen one in my parents bedroom.....

Now?

3 TV's per family of 4
2 cars per family of four
x-box
Nike's that are replaced when they get dirty
Designer jeans
A/C
3 cell phones per family of four.

Yeah...the middle class is struggling compared to what we had in the 60's.

The poor have never had it any better, either. If one is poor, the USA is the best place to be poor.

 

[Jarhead]

Now, now, Campy...neither were you.

1. Early on Eugene Victor Debs was quite properly seen not as a radical but as a decent Democratic politician and labor leader. In 1884, he wrote an editorial for the Brotherhood of Locomotive Fireman, stating that the union “is not to antagonize capital. Strikes do that; hence we oppose strikes as the remedy for the ills of which labor complains.” Nick Salvatore, “Eugene V. Debs: Citizen and Socialist,” p.49.

2. The Pullman strike of 1894 changed Debs. The issues of the day included the 8-hour day, and in its cause, the members of the railway firemen were grumbling about the no-strike policy. Pushed by the new militancy, Debs declared that “the men of brawn and brain who produce” should be given “a just proportion of the proceeds.”

a. George Pullman, of sleeping car fame, had constructed a workers’ community in which he owned the land, the workers’ houses, and ran the churches; the sewage was pumped into Pullman’s farm to be used as fertilizer.

b. When the Depression of 1893 hit, wages fell on average by 33 to 50 percent. While Pullman deduced from the workers’ wages the costs of rent and water, library fees, and grocery bills, he refused to lower rents commensurate with the drop in wages.

c. Pullman banned the eight-hour day, saloons, and trade unions.


The truth is that the middle class has neither stagnated nor fallen back. The standard of living of same has continued to increase.

Need I do the math for you?

You are so full of shit that I smell you:

• 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
• 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
• 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
• 36 percent of Americans say that they don't contribute anything to retirement savings.
• A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
• 24 percent of American workers say that they have postponed their planned retirement age in the past year.
• Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
• Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
• For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
• In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
• As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
• The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
• Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
• In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
• The top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.
• In America today, the average time needed to find a job has risen to a record 35.2 weeks.
• More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
• or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
• This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
• Approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years.
• Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.• The top 10 percent of Americans now earn around 50 percent of our national income.

Provide the source for what you just posted. Otherwise, you are a plagiarist - a thief.

it is not his fault. He was not aware that such is plagiarising.
The law only applies to those that understand about personal responsibility.
Obviously, he does not.

Sad...people are more wrapped up in how others live their lives than they are about how THEY live their lives.

 

[Claudette]

You weren't here when the coal miners and railroad workers first unionized. That was the beginning of the American middle class. The Republican party has resented and attempted to undo it ever since.

Because of the goddam mess George W. Bush and his "Tax Cuts For The Wealthy" policies plus two wars made we are back to the scenario where working people will once again put their lives on the line if it becomes necessary. 'Course I wouldn't want to tangle with one of those mean CEO's...they hire others to do their fighting. You know...like the Mafia bosses.

Now, now, Campy...neither were you.

1. Early on Eugene Victor Debs was quite properly seen not as a radical but as a decent Democratic politician and labor leader. In 1884, he wrote an editorial for the Brotherhood of Locomotive Fireman, stating that the union “is not to antagonize capital. Strikes do that; hence we oppose strikes as the remedy for the ills of which labor complains.” Nick Salvatore, “Eugene V. Debs: Citizen and Socialist,” p.49.

2. The Pullman strike of 1894 changed Debs. The issues of the day included the 8-hour day, and in its cause, the members of the railway firemen were grumbling about the no-strike policy. Pushed by the new militancy, Debs declared that “the men of brawn and brain who produce” should be given “a just proportion of the proceeds.”

a. George Pullman, of sleeping car fame, had constructed a workers’ community in which he owned the land, the workers’ houses, and ran the churches; the sewage was pumped into Pullman’s farm to be used as fertilizer.

b. When the Depression of 1893 hit, wages fell on average by 33 to 50 percent. While Pullman deduced from the workers’ wages the costs of rent and water, library fees, and grocery bills, he refused to lower rents commensurate with the drop in wages.

c. Pullman banned the eight-hour day, saloons, and trade unions.


The truth is that the middle class has neither stagnated nor fallen back. The standard of living of same has continued to increase.

Need I do the math for you?

You are so full of shit that I smell you:

• 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
• 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
• 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
• 36 percent of Americans say that they don't contribute anything to retirement savings.
• A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
• 24 percent of American workers say that they have postponed their planned retirement age in the past year.
• Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
• Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
• For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
• In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
• As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
• The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
• Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
• In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
• The top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.
• In America today, the average time needed to find a job has risen to a record 35.2 weeks.
• More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
• or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
• This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
• Approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years.
• Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.• The top 10 percent of Americans now earn around 50 percent of our national income.

I repeat. If there were no rich folks out there who do you think would pay the taxes they now pay?

The middle class thats who. The poor pay for nothing now and would continue to pay for nothing. If you think the middle class is suffering now. Run that scenario.

 

[PoliticalChic]

NEW YORK (CNNMoney) -- Billionaire investor Warren Buffett this week showed a little more leg in his campaign to get Congress to raise taxes on the uber-rich.

In a letter to Republican Rep. Tim Huelskamp Tuesday, Buffett revealed that his adjusted gross income last year was $62,855,038 and that his taxable income was $39,814,784. Buffett said he paid $15,300 in payroll taxes.

Buffett also said his federal income tax bill came to $6,923,494, or 17.4% of his taxable income -- two points he revealed in a New York Times op-ed in August urging Congress to tax the wealthy more.

Buffett provided a copy of his correspondence with Huelskamp to CNNMoney's Poppy Harlow.

He said in an interview that the roughly $23 million difference between his AGI and taxable income was due largely to deductions he took for charitable giving and local taxes.

Two key reasons he only paid 17.4%, however, is because a lot of his income came from investments, which are taxed at a lower rate than wages, and because payroll taxes are assessed only on the first $106,800 of wages.

"People who make money with money are getting taxed at a far lower rate than people who make money by their own labor," Buffett told CNNMoney.

Warren Buffett made $62,855,038 last year - Oct. 12, 2011

1. Are you supporting the idea of raising capital gains taxes?

2. Do you realize that the money invested in stocks has already been taxed when generated from earnings....and will now be taxed a second time when an investment profit is realized?

the stock holder is only taxed on his profit when he sells the stock. HIS MONEY invested buyig the stock that was already taxed, is NEVER taxed again, only his capital gain of the investment he made is taxed, again, when he sells it.

he can hold on to these stocks for years or decades, while they go up up up in value, while paying no individual tax on that, year after year until he sells it....

this is/would be a tax haven for the stock holder....

I'm surprised at you, care.
I'm sure that you understand economics better than this post indicates.
Under capitalism, risk is entitled to a reward. The more of one, the other should be concomitant.


"he can hold on to these stocks for years or decades, while they go up up up in value,"

What if it doesn't go up?

Who pays the price if it goes down.?
The growth of an economy is based on innovation, which requires risk capital.

Further, there are multiple levels of taxation,
1. ncentive effects are compounded in our tax system through the multiple taxation of capital, …several times in federal and state tax codes.

2. Example: invest one dollar in the stock of a corporation. A dollar that the corporation earns is taxed at the corporate income tax rate of about 40% (that includes federal plus state corporate taxes). If the rest of that dollar is paid to our investor in dividends, then it is taxed again via individual income tax at the dividend tax rate. With Obama increasing the dividends tax rate from 15% to 43.4%*, applying the 43.4% rate to the 60 cents remaining after paying the corporate income tax leaves just 34 cents for the investor, of the original dollar he earned!

3. A third layer of taxation of capital income is represented by the capital gains tax. Consider an asset such as a share of stock….If that asset is sold, taxing the increased value by the capital gains tax is effectively taxing that future income stream a third time.

4. The death tax (estate tax) is a fourth layer of taxation on capital income. If our investor saves the 34 cents from the corporate stock and leaves it to his children, the death tax would take about half, leaving 17 cents of the original dollar.
Ferrara, “America’s Ticking Bankruptcy Bomb,” p. 215-216.

 

[DiamondDave]

Do you realize that the people who enjoy millions of earnings in this country are riding the backs of ordinary people who can't even find a job? When and where did this feeling of entitlement by the richest 1% come from? Tax rates for the wealthy are at the lowest rate in 50 years. Pay your part or get the fuck out! You might try moving to Maylasia or that Central American country where the company you're invested in is located.

please do me a favor and explain what you mean by this (in red)....exactly how are the wealthiest riding the backs of the ordinary people?

What the hell does a corporate executive do? He plans how working people will earn money for him. Have you ever stopped to think what would happen if the ordinary working people all over the world stopped working and went on a hunger strike? Rich people and their antics make my rectum crave buttermilk.

You think you can do it?? You think it's easy to run a company??... Start one and prove it

 

[Jarhead]

please do me a favor and explain what you mean by this (in red)....exactly how are the wealthiest riding the backs of the ordinary people?

What the hell does a corporate executive do? He plans how working people will earn money for him. Have you ever stopped to think what would happen if the ordinary working people all over the world stopped working and went on a hunger strike? Rich people and their antics make my rectum crave buttermilk.

You think you can do it?? You think it's easy to run a company??... Start one and prove it

thats the irony.

The left complains how easy business owners have it...yet they fear doing it themselves.

DO they not see the contradiction?

 

[DaGoose]

you are confused.
The republicans are doing their best to ensure that no one is treated differently due to their success or failure.....you know...all men are created equal and should be treated equal.

Whereas the democrats have found a way to demonize the successful and get the less successful to vote for them as they promise to take from the successful and give to the less successful.

Recall...(paraphrased to sensationalize the point being made)

"vote for me and 95% of you will get a check in the mail from yours truly"

Ok...then let's tax ALL earnings at the same rate then whether it be through payroll or investment income.

Time for a lesson in economics.

Don't you wish to encourage investment? The NYTimes does.


"A basic tenet of American capitalism is that supply precedes demand, as can be see in the case of all airports being closed down: the long lines of people unable to get to their destinations is the demand that cannot be fulfilled. This is why entrepreneurs must be given a free hand to produce, to speculate, as the building of more and more airports will lower prices, increasing demand. This is especially true in the case of new technologies.

Both high taxation and over regulation place a damper on this freedom.

“The proceeds from these speculations? the capital paid for stocks and bonds ? may seem misspent. In the long run, the results are called infrastructure, and they are what economies are built on.”

“Many European postal systems, telegraph lines and railroads were built with government money, and sometimes with insufficient capacity. But in the United States, instead of burdening taxpayers, we sell investors the equivalent of high-priced lottery tickets each time one of these technologies arrives.”
On the Contrary - In Technology, Supply Precedes Demand - NYTimes.com

Want to withdraw your post?

Time for a lesson in human nature.

Do you really believe that someone will refuse to invest and make millions just because they have to pay a little higher percentage on the income that they earn from their investments?

I thought not. You may now alter or withdraw YOUR post....