Stop Coddling The Super Rich

[Dr.House]

Just curious if you get your generosity warm-fuzzies only by insisting other people pay more taxes.

Not at all. I'm insisting that we all pay. Including myself.

So what's keeping you from sending in extra?

Apparently he was just kidding... Either that or too stupid to realize he can send in more now...

He's definitely all for OTHERS paying more, though...

 

[Nosmo King]

Wow! Didn't I just write: I pity those who think everything happens because some political ideology dictates it. That makes for very shallow thinking, wouldn't you agree?

Maybe some reading would do us all some good.

Yeah, you wrote that. So why do you think mobs of leftists are slobs and mobs of conservatives are neat and tidy? Sheer coincidence?

I don't think that. I think extremely large crowds in the end of January are different from a few folks gathering in August.

 

[Nosmo King]

Liberals are friends of the environment?


Since when?


Obama inauguration left over 100 tons of trash on the ground:

The 2 million man Tea Party left about 0 trash:

Post-Barackalyptic Wasteland - YouTube

On the Mall after the Restoring Honor Rally - YouTube

Wow! Didn't I just write: I pity those who think everything happens because some political ideology dictates it. That makes for very shallow thinking, wouldn't you agree?

Maybe some reading would do us all some good.

No you didn't write anything like what I wrote.

Really? Because I remember writing that and I clearly remember cutting and pasting it from this very post. Hard when the facts are RIGHT THERE IN FRONT OF YOU.

 

[DaGoose]

In top of that smaller investors (not the Warren Buffets) that drive that market will have less money and incentive to drive the market. It will have a tickle down effect.

NO WAY you wrote or even believe that.

.

 

[Toddsterpatriot]

Once the government (combined with state government) stated to raise income taxes post-Reagan's decreases. Savvy CEOs and executived found out if they issue stock and other investment tools, they could issue them and then sell them off getting hit with the 15% capital gains tax and not the higher income tax. Therefore a good chunk of the millions they make gets taxed at 15%.

That sounds criminal and the kneejerk Dimocrat solution is to raise capital gains taxes! HOWEVER, there are negative implications there. The CEOs will then have to pay there fair share. However, the vast vast majority of Americans lose money overnight. The majority of use have investments in the market in one way shape or form. Including 401K, IRA, mutual funds etc. While 401ks, for example, build tax free, they are hit with tax on the backside when you use them.

In top of that smaller investors (not the Warren Buffets) that drive that market will have less money and incentive to drive the market. It will have a tickle down effect.

What's a better way then raising the capital gains tax? Short of doing the fair tax (which is the best solution):
(1) LOWER the Corporate Tax and CLOSE the loop holes. Loopholes create incentives for shell companies. The highest corporate tax in the world, creates incentives to move opperations overseas!

(2) Lower the income tax rate and CLOSE loophole entitlements. The Homeowner one is the most cited, but that would be devastating at the moment. Others come to mind.

(3) End Federal, State and Teacher pension plans. Hey the private sector had to eliminate them and go to individual plans, so should government workers. Esp the teacher retirement plans. 60% of the property taxes collected in any county goes toward the highway robbery teacher retirement plans. Sorry, but I rather have that going towards competent teachers and more teachers that are working now!

(4) Cut the capital gains tax to 0%, but DISALLOW the type of practice where CEOs and other executives use the 0% capital gains tax as a substitute income tax! Investment income is usually made through wages or business profits. Those profits are taxed once, why should they be taxed a second time.

(5) Reinstate Glass-Seagel Act - Commerical and Invest Banks have too much of a conflict of interest to be within one entity!

(6) Place Tarriffs on China! They are making trillions by screwing us. Trump is right, **** em!

(7) Drill Baby Drill and Force All Big Rigs to Run on Natural Gas: We have enough oil to be an oil export. If we produced our own oil, then we would have some more certainty in the market (it's still a commodity, so not complete certainty). We have the 2nd largest reserves of natural gas, big rigs running on natural gas we shoot oil prices through the floor!

Savvy CEOs and executived found out if they issue stock and other investment tools, they could issue them and then sell them off getting hit with the 15% capital gains tax and not the higher income tax. Therefore a good chunk of the millions they make gets taxed at 15%.

If a CEO is issued stock, they must pay income tax on the value of the stock they receive.
If they sell it later, at a higher price, they must also pay the capital gains tax on the increase in value.

 

[Lonestar_logic]

Wow! Didn't I just write: I pity those who think everything happens because some political ideology dictates it. That makes for very shallow thinking, wouldn't you agree?

Maybe some reading would do us all some good.

No you didn't write anything like what I wrote.

Really? Because I remember writing that and I clearly remember cutting and pasting it from this very post. Hard when the facts are RIGHT THERE IN FRONT OF YOU.

This is what I wrote:

Liberals are friends of the environment?


Since when?


Nope, you didn't write anything like that.

 

[daveman]

Not at all. I'm insisting that we all pay. Including myself.

So what's keeping you from sending in extra?

Apparently he was just kidding... Either that or too stupid to realize he can send in more now...

He's definitely all for OTHERS paying more, though...

Liberals -- so generous, they'll give you the shirt off someone else's back.

 

[daveman]

Wow! Didn't I just write: I pity those who think everything happens because some political ideology dictates it. That makes for very shallow thinking, wouldn't you agree?

Maybe some reading would do us all some good.

Yeah, you wrote that. So why do you think mobs of leftists are slobs and mobs of conservatives are neat and tidy? Sheer coincidence?

I don't think that. I think extremely large crowds in the end of January are different from a few folks gathering in August.

Of course. The calendar. Has to be it.

 

[Stephanie]

Can you believe this article comes out the same day the Obama is on his Magical Bus Campaign tour (THAT WE ARE PAYING FOR) and railing about HOW HE WANTS to RAISE taxes, but really folks, he just wants to raise them ON THE RICH, so that is suppose to be OK.

I heard he quoted Buffet, I don't think the Obama has had a original idea of his own, EVER.

 

[Steelplate]

I'm still waiting for someone to tell me how I benefit from polluted drinking water and dead customers.

Let's see, if benefited the Hooker Chemical Company to dump toxic waste into the Love Canal, It benefited PG&E to dump Chromium 6 into the Hinckley water supply. It definitely benefits Corps to cut corners... ask BP.

You fuckers are so brainwashed that the vast history of greed and irresponsibility are lost on you. Idiots.

 

[Steelplate]

Lets say all the corporation CEO and stock holders decide to dry up.. Cash it all in and buy an Island for themselves to live and die on.. Then what.. The liberals will be fucked. If they can't take care of themselves now imagine if we weren't working and paying for there way thru life.

Liberal suck...

Blues

That would be wonderful. Then formerly squeezed out businesses could get a little fresh air and sunshine and grow without the Giant Redwoods blocking out the sun on them.

 

[MikeK]

Oh, for God's sake, let's cut to the chase here, Kids! The fact is...if we took ALL of the money that the top 10% make it wouldn't come close to paying for the unfunded entitlements that we are on the hook for. Let me repeat that a little louder for you progressives. IF WE TOOK ALL OF THE MONEY THAT THE TOP 10% MAKE IT WOULDN'T PAY THE TAB FOR ALL THE UNFUNDED ENTITLEMENTS WE NOW HAVE ON THE BOOKS!!! This talk about getting the rich to "pay their share"? It's all bullshit. It's a diversion. It's a sleight of hand trick whose sole purpose is to get you to not pay attention to where the real problem is.

Are you people on the Left really this obtuse? Or have you decided that if you ignore the problem long enough it will magically go away?

You've been effectively indoctrinated. The fact is most unbiased and educated opinions hold that the Bush tax cuts are almost totally responsible for the current deficit. Here is just one such opinion (from the Washington Post):

(Excerpt)

The "Bush tax cuts," passed in 2001 and 2003, remain the single largest cause of America's structural deficit -- that is, the deficit not caused by the collapse in tax revenue when the economy goes into recession. The Bush administration inherited budget surpluses from the Clinton administration. What turned these into deficits, even before the recession? There were three fundamental new costs: the tax cuts, the Medicare prescription-drug bill and post-9/11 security spending (including the wars in Iraq and Afghanistan). Of these the tax cuts were by far the largest, adding up to $2.3 trillion over 10 years. According to the Congressional Budget Office, nearly half the cost of all legislation enacted from 2001 to 2007 can be attributed to the tax cuts.

(Close)

Fareed Zakaria - To deal with the deficit, let the tax cuts expire

 

[Nosmo King]

Yeah, you wrote that. So why do you think mobs of leftists are slobs and mobs of conservatives are neat and tidy? Sheer coincidence?

I don't think that. I think extremely large crowds in the end of January are different from a few folks gathering in August.

Of course. The calendar. Has to be it.

August has different weather than January at 40 degrees north latitude.

 

[Nic_Driver]

Lets say all the corporation CEO and stock holders decide to dry up.. Cash it all in and buy an Island for themselves to live and die on.. Then what.. The liberals will be fucked. If they can't take care of themselves now imagine if we weren't working and paying for there way thru life.

Liberal suck...

Blues

That would be wonderful. Then formerly squeezed out businesses could get a little fresh air and sunshine and grow without the Giant Redwoods blocking out the sun on them.

That's right, the demand for those goods and services wouldn't retire with the corporate CEO's, someone else would step into the vacancy.

It's always been demand that's created jobs, not corporations or the wealthy but demand. Put money into the hands of people who will spend it and you create demand and with it, jobs.

 

[Steelplate]

Thanks Nic...

That's exactly right. HIRE AND PAY WORKERS... THEY WILL BUY YOUR SHIT!!!! I am so sick of the ridiculous failed notion of trickle down economics.... look at what's happened under that stupid ideology... the RICH kicked ass monetarily.... the Working Class do more with less for less.

The funny thing is, is that this whole 'trickle down" system is starting to collapse upon itself after 30 years... but we just keep trying to beat our heads against the wall.. give them MORE breaks... they'll trickle down THIS TIME...

****! I mean sooner or later you HAVE to figure out you are playing Charlie Brown to the Wealthy's Lucy... they won't pull the ball away... THIS TIME.

 

[Soggy in NOLA]

Oh, for God's sake, let's cut to the chase here, Kids! The fact is...if we took ALL of the money that the top 10% make it wouldn't come close to paying for the unfunded entitlements that we are on the hook for. Let me repeat that a little louder for you progressives. IF WE TOOK ALL OF THE MONEY THAT THE TOP 10% MAKE IT WOULDN'T PAY THE TAB FOR ALL THE UNFUNDED ENTITLEMENTS WE NOW HAVE ON THE BOOKS!!! This talk about getting the rich to "pay their share"? It's all bullshit. It's a diversion. It's a sleight of hand trick whose sole purpose is to get you to not pay attention to where the real problem is.

Are you people on the Left really this obtuse? Or have you decided that if you ignore the problem long enough it will magically go away?

You've been effectively indoctrinated. The fact is most unbiased and educated opinions hold that the Bush tax cuts are almost totally responsible for the current deficit. Here is just one such opinion (from the Washington Post):

(Excerpt)

The "Bush tax cuts," passed in 2001 and 2003, remain the single largest cause of America's structural deficit -- that is, the deficit not caused by the collapse in tax revenue when the economy goes into recession. The Bush administration inherited budget surpluses from the Clinton administration. What turned these into deficits, even before the recession? There were three fundamental new costs: the tax cuts, the Medicare prescription-drug bill and post-9/11 security spending (including the wars in Iraq and Afghanistan). Of these the tax cuts were by far the largest, adding up to $2.3 trillion over 10 years. According to the Congressional Budget Office, nearly half the cost of all legislation enacted from 2001 to 2007 can be attributed to the tax cuts.

(Close)

Fareed Zakaria - To deal with the deficit, let the tax cuts expire

Oh brother... it doesn't get any better than this.

 

[Oddball]

Oh, for God's sake, let's cut to the chase here, Kids! The fact is...if we took ALL of the money that the top 10% make it wouldn't come close to paying for the unfunded entitlements that we are on the hook for. Let me repeat that a little louder for you progressives. IF WE TOOK ALL OF THE MONEY THAT THE TOP 10% MAKE IT WOULDN'T PAY THE TAB FOR ALL THE UNFUNDED ENTITLEMENTS WE NOW HAVE ON THE BOOKS!!! This talk about getting the rich to "pay their share"? It's all bullshit. It's a diversion. It's a sleight of hand trick whose sole purpose is to get you to not pay attention to where the real problem is.

Are you people on the Left really this obtuse? Or have you decided that if you ignore the problem long enough it will magically go away?

You've been effectively indoctrinated. The fact is most unbiased and educated opinions hold that the Bush tax cuts are almost totally responsible for the current deficit. Here is just one such opinion (from the Washington Post):

(Excerpt)

The "Bush tax cuts," passed in 2001 and 2003, remain the single largest cause of America's structural deficit -- that is, the deficit not caused by the collapse in tax revenue when the economy goes into recession. The Bush administration inherited budget surpluses from the Clinton administration. What turned these into deficits, even before the recession? There were three fundamental new costs: the tax cuts, the Medicare prescription-drug bill and post-9/11 security spending (including the wars in Iraq and Afghanistan). Of these the tax cuts were by far the largest, adding up to $2.3 trillion over 10 years. According to the Congressional Budget Office, nearly half the cost of all legislation enacted from 2001 to 2007 can be attributed to the tax cuts.

(Close)

Fareed Zakaria - To deal with the deficit, let the tax cuts expire

Oh, Priscilla!....IT'S BUSH'S FAULT!!

 

[RDD_1210]

Just curious if you get your generosity warm-fuzzies only by insisting other people pay more taxes.

Not at all. I'm insisting that we all pay. Including myself.

So what's keeping you from sending in extra?

What difference will one person make? Honestly. If it was across the board, I know it would be impactful and I would be supportive.

 

[Ame®icano]

Billionaire Warren Buffett urged U.S. lawmakers to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments.

"My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," The 80-year-old "Oracle of Omaha" wrote in an opinion article in The New York Times.

I paid was only 17.4 percent of my taxable income - and that's actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent," he said.

"I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain," he said

"People invest to make money, and potential taxes have never scared them off."

Stop coddling the super-rich: Buffett - Yahoo! News

.

Although I admire, just like everyone else, what Buffett accomplished thru out his career, I got no much respect for what he said above. He accumulated over time some $50 billion benefiting from paying low taxes, and now he's preaching how he's not paying enough. I haven't heard him saying how he doesn't need tax break while he was getting it during past administrations.

If he wants to pay higher taxes, then why is he using every loophole in tax laws in order to pay less? It simply doesn't make sense unless there is something there for him. I don't think that, even if government grant him a wish to pay higher tax, that he would let them anywhere near the money he already posses. What's left is to tax the money he made in a current year and even I am sure that's a lot, it's not even a fraction of the wealth he already own. By raising taxes on new money it would be much harder to accumulate enough wealth to become super rich. I guess he just want to protect what he already owns.

 

[Ame®icano]

Billionaire Warren Buffett urged U.S. lawmakers to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments.

"My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," The 80-year-old "Oracle of Omaha" wrote in an opinion article in The New York Times.

"I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain," he said

"People invest to make money, and potential taxes have never scared them off."

Stop coddling the super-rich: Buffett - Yahoo! News

.

Buffett can pay as much as he wants to the government. Why does he have to be forced?

This is not first time that Buffett repeat the same thing. I just don't know why this is creating so much publicity among the left now, when it suits their agenda. Buffett is not first one to propose something like this, it was actually "crazy" Trump who suggested that rich pays more taxes, and that was almost twelve years ago. Where was Buffett then?