Fido
 
  1  
Reply Thu 14 Apr, 2011 05:01 am
@H2O MAN,
It better smell like kat if you expect to rub my face in it...
0 Replies
 
Fido
 
  1  
Reply Thu 14 Apr, 2011 05:17 am
@H2O MAN,
H2O MAN wrote:

Fido is not house trained... sorry for the mess, lets rub his nose in it.


Back to the subject of taxing the rich.

Tax The Rich? Good Luck With That!

By WALTER WILLIAMS

I've often said that I wish there were some humane way to get rid of the rich. If you asked why, I'd answer that getting rid of the rich would save us from distraction by leftist hustlers promoting the politics of envy.

Not having the rich to fret over might enable us to better focus our energies on what's in the best interest of the 99.99% of the rest of us. Let's look at some facts about the rich laid out by Bill Whittle citing statistics on his RealClearPolitics video "Eat the Rich."

This year, Congress will spend $3.7 trillion dollars. That turns out to be about $10 billion per day. Can we prey upon the rich to cough up the money?

According to IRS statistics, roughly 2% of U.S. households have an income of $250,000 and above. By the way, $250,000 per year hardly qualifies one as being rich. It's not even yacht and Learjet money.

All told, households earning $250,000 and above account for 25%, or $1.97 trillion, of the nearly $8 trillion of total household income. If Congress imposed a 100% tax, taking all earnings above $250,000 per year, it would yield the princely sum of $1.4 trillion. That would keep the government running for 141 days, but there's a problem because there are 224 more days left in the year.

How about corporate profits to fill the gap? Fortune 500 companies earn nearly $400 billion in profits. Since leftists think profits are little less than theft and greed, Congress might confiscate these ill-gotten gains so that they can be returned to their rightful owners.

Taking corporate profits would keep the government running for another 40 days, but that along with confiscating all income above $250,000 would only get us to the end of June. Congress must search elsewhere.

According to the Forbes 400, America has 400 billionaires with a combined net worth of $1.3 trillion. Congress could confiscate their stocks and bonds, and force them to sell their businesses, yachts, airplanes, mansions and jewelry. The problem is that after fleecing the rich of their income and net worth, and the Fortune 500 corporations of their profits, it would only get us to mid-August.

The fact of the matter is there are not enough rich people to come anywhere close to satisfying Congress' voracious spending appetite. They're going to have to go after the non-rich.

But let's stick with the rich and ask a few questions. Politicians, news media people and leftists in general entertain what economists call a zero-elasticity view of the world. That's just fancy economic jargon for a view that government can impose a tax and people will behave after the tax just as they behaved before the tax, and the only change is more government revenue.
I think you are right, that we cannot get rid of the rich humanely, but they must be gotten rid of one way or another.. Trouble is; that it is not simply our rich, but rich around the world who have been profiting from our exploitation... We are fighting wars that cost us millions of dollars a second for the benefit of others, and including our own rich... But taxing the poor is like profit because if the rich do not have to pay tax they grow richer that much sooner, and we grow poorer apace... We think we have a problem in this country, and we do; but to suppose international capitalism is not an international problem is a mistake... It is one of the ways the West has maintained peace for over 50 years straight... When every country owns stock in the others there is no profit in destruction... But with mutual support there is also no hope of revolution, so that labor stuggles in vain for justice and in the end finds itself taxed to extinction... It is no longer a question of this country or that country falling to the bolshevics... Either they must fall together, or carry on together, keep up the value of their currencies by mututal illusion, and sell dear and buy cheap... I don't know if they can keep it up; but I do know they will not stop and murder or war to keep their places... There is only one way to stop them, and that is to resist them while forming new relationships... When people can govern themselves and their affairs without the present government they can then rid themselves of the illusion of legitimacy that gives the present government its power... Seen for what it is, the present government is only so many lawyers, wannabees, and big buildings... They have the scale of Ancient Rome and the ethics of a street gang... Turn away, remove yourself and the mess will become what it is: A House of Cards, and fall down... If you cannot deny them your money, then deny the money its meaning... If you expect to deny them power, and yet keep the value of money you are certifiable.... They are destroying the meaning of government daily... Let them; and do not expect you can improve them...
0 Replies
 
H2O MAN
 
  -1  
Reply Thu 14 Apr, 2011 06:48 am


Fido and Obama want to spread poverty and disparity around... make everyone equally miserable.
H2O MAN
 
  -2  
Reply Thu 14 Apr, 2011 07:02 am
47% of all Americans do not pay any federal income tax.

THE 47% CONTROVERSY. About Half of Americans aren’t paying federal income taxes. Can that be that right? First of all let me clarify that we are only talking about “Income” tax. But it is true!

A provocative statistic. Last July, the nonpartisan Tax Policy Center (a joint venture of the Urban Institute and the Brookings Institution) estimated that 47% of Americans would not owe a penny to the IRS for tax year 2009. The White House has projected the federal deficit at $1.6 trillion for 2010 – that’s about 10.6% of our GDP, a percentage unseen since the 1940s. Is it fair to the nation that so many Americans are legally avoiding federal income taxes? How does this happen?
How it happens

A major reason? Refundable tax credits. The Making Work Pay credit and other tax cuts accompanying the federal stimulus gave millions more of us a refund this time around. If these credits hadn’t appeared, the TPC says 38% of us still wouldn’t have owed federal income tax for 2009, thanks to assorted variables – astute tax planning, low taxable income, and other factors.
People who assume the rich are dodging taxes are misinformed.

The TPC found that only about 1.5% of those with taxable incomes of $1 million or more owed no federal income tax for 2009.
For those with taxable incomes from $500,000-$1,000,000, the estimate rises to just 2%.
If you made between $75,000-100,000 in taxable income in 2009, you may have been in the lucky 9.2% who the TPC says didn’t owe anything to the IRS.
In contrast, it figured that 61.8% of taxpayers who earned $20,000-30,000 last year and 47.5% of those with taxable incomes from $30,000-40,000 had no federal tax liability.

For another perspective and more information also see: Guess Who really Pays the Taxes

The wealthiest 1% of the people pay 37% of the taxes
The top 10% pay 68% of the tax bill
The bottom 50% pay only 3% of the tax bill
parados
 
  2  
Reply Thu 14 Apr, 2011 07:18 am
@H2O MAN,
Wow.. 50% of the people don't pay a tax that makes up 50% of the federal revenues.


In a related note.. 0% of people over 65 pay FICA tax.
H2O MAN
 
  -1  
Reply Thu 14 Apr, 2011 07:22 am
@parados,
Wow!

The wealthiest 1% of the people pay 37% of the taxes
The top 10% pay 68% of the tax bill
The bottom 50% pay only 3% of the tax bill
parados
 
  2  
Reply Thu 14 Apr, 2011 07:29 am
@H2O MAN,
H2O MAN wrote:

Wow!

The wealthiest 1% of the people pay 37% of the taxes
The top 10% pay 68% of the tax bill
The bottom 50% pay only 3% of the tax bill

WOW...
You don't seem to understand what makes up taxes.

Do you only have half a brain to go with your half taxes?
parados
 
  2  
Reply Thu 14 Apr, 2011 07:30 am
@parados,
Of course.. you have to keep in mind..
The top 10% pays only 68% of income taxes while having 90% of the wealth.

It seems like they could pay more to make it fair for all of us to pay the same percentage of our wealth.
H2O MAN
 
  -1  
Reply Thu 14 Apr, 2011 07:53 am
@parados,
Drunk LOL!
Just like PrezBO, Parsite wants 90% of Americans to be moochers that are totally dependent on OPM.

I think it would be more fair and best for everyone if our federal government
encouraged all of us to emulate the top 10% and become as wealthy as possible.
Fido
 
  0  
Reply Thu 14 Apr, 2011 08:13 am
@H2O MAN,
H2O MAN wrote:



Fido and Obama want to spread poverty and disparity around... make everyone equally miserable.
You are quite wrong... Before the closures of the commons in England, there was no concept of poverty because while people might be poor, and clearly unable to support themselves on their tracts could also rely on the commons for their support... Commoners were common, but beggers were uncommon... When the rich took the heritable rights of the poor, poverty and the concern for it became wide spread... On the brights side those poor fed their lives into the industrial revolution, and made it reality as much as iron, coal and sugar... The other side was that they fed their lives into the indusrial revolution or became servants of the leading classes and never made enough in their lives to support marriage or children and so died unmorned and were never heard of again... That is the true price of poverty, the price every potential mother pays to have an abortion, and the price every old person pays to realize they do not have enough income to retire and must keep working until they drop... Were poverty is common, unhappiness is as rare as misery... A society must be divided into rich and poor to know true poverty, pain, humiliation, and misery...

Try to get by the simple fact that as a republic we should be a commonwealth, as was Greece or Rome... Consider, that if all the commonwealth were in private hands tomorrow it must still support the population, though we could never die fast enough to satisfy those who owned the land... Consider that Rome had its entitlements too, its corn dole, but that those rich who were responsible for it by setting slaves to compete against free men had a quota on the number of old slaves they could make free, which was their way of avoiding the moral and financial support of the old slaves because in the act of freeing them, they also made them citizens, and eligable for the dole.

Consider that no less happens in this land when companies relocate off from under its workers who can in no sense, move... They can seek a new community to exploit, demand new infrastructure which is easier built than maintained, and new bodies to ply their equipment... They leave behind communities with lots of old infrastructure and no tax base, and they are free to do so because they feel no moral and financial obligation to those who usually conceded too much to see their employers succeed... Think of the many billions of dollars in wealth take from Appalacia... That wealth gone, their former employers say: These people need help, and they do: mental, physical, and financial... But where are the rich to give them their due??? The rich have moved far afield and the country is left with the support of their refuse of humanity... It is not fair taxation that creates poverty, but profit and wealth that create poverty... The rich cannot be rich without the poor, without making poor people poorer...
0 Replies
 
H2O MAN
 
  -2  
Reply Thu 14 Apr, 2011 08:14 am


Didn't Obama promise to cut the deficit in half during his first and final term?

How's that going?
0 Replies
 
Fido
 
  1  
Reply Thu 14 Apr, 2011 08:31 am
@H2O MAN,
H2O MAN wrote:

Wow!

The wealthiest 1% of the people pay 37% of the taxes
The top 10% pay 68% of the tax bill
The bottom 50% pay only 3% of the tax bill
Every time a poor person works to create profit he creates wealth for another and poverty for himself... If the government will not give him justice they can at least recognize when he has nothing after his basic needs are met to pay taxes with... If they taxed him he would have to demand more because of greater needs which would take from the profits of the rich... And the government could tax the rich because it was and is a more efficient method of taxation.. Instead, the government lays the support of all the poor on the nearly poor, and the soon to be poor which only builds resentment against the poor and diverts outrage from its cause, which is the great number of rich who go about creating poverty in the process of building profit... Consider that excise taxes weigh most heavily on the poor who must spend rather than invest income....

Do you recognize something wrong with your math???You have a 108% of the taxes being paid by 61% of the population which leaves out 39% of tax payers??? How is that possible that nearly forty percent of people who must be earning income do not contribute more, as if it were possible to begin with to have any part over a hundered per cent when percent means part of a hundred??? Conservative math must be like chinese checkers compared to checkers...
0 Replies
 
Fido
 
  0  
Reply Thu 14 Apr, 2011 08:34 am
@H2O MAN,
H2O MAN wrote:

Drunk LOL!
Just like PrezBO, Parsite wants 90% of Americans to be moochers that are totally dependent on OPM.

I think it would be more fair and best for everyone if our federal government
encouraged all of us to emulate the top 10% and become as wealthy as possible.
WE are a commonwealth... It is our country, and we have often fought and died to defend it... Was it all for thr rich that the poor died???
Fido
 
  0  
Reply Thu 14 Apr, 2011 08:42 am
@parados,
parados wrote:

Of course.. you have to keep in mind..
The top 10% pays only 68% of income taxes while having 90% of the wealth.

It seems like they could pay more to make it fair for all of us to pay the same percentage of our wealth.
I just worked for a livng but I once made the top ten percent, and my kid regularly makes the top two percent; but there is one hellova distance in dollars between the bottom of the top one percent and the top of the top one percent... When you hit the top ten and you can see all you don't have and how hard you had to work at it, if you are not some kind of animal then you have a little compassion for those with nothing who have to work like hell to keep that and get by on it...

As bad as it seems it is far worse than figures alone can indicate... Try to see the whole picture... Break down the bottom and top ten percent and view each as a hundred percentile points on their own... Look at the wealth each owns as well as income... Try to remember that we are a commonwealth, and that those who have it are supposed to pay for the privilage of having it...Freedom should be free, but property and wealth should be paid for all the time...

We are all familiar with the term: Inalienable Rights... Property once considered inalienable was made alienable in order to make free enterprise free... Property as a right, and property as an idea has always been in flux... What gives those rights of property even if that property be simple wealth is the consent of the people, but the rich thinking the right exists as a thing in itself do put all their wealth in danger... When they have all the commonwealth and refuse to see it taxed to support the poverty they create, then property as an ideal and as a right will lose its meaning... We all must have some money for money to have meaning, but if only the rich have money the rich and the money will lose its meaning, and when the meaning is gone it is because the form of relationship is gone, and then the poor will see the rich not as well off fellow citizens, but as the parasites they are... And they will squash them like bugs... And should..
0 Replies
 
H2O MAN
 
  -1  
Reply Thu 14 Apr, 2011 08:42 am

Fido believes the poor should not even try to better themselves and that they should accept their position in life because their efforts may benefit someone else.

.... Spreading the misery around


Watch Atlas Shrug and see what happens when the so called rich decide to stop creating wealth.
H2O MAN
 
  -1  
Reply Thu 14 Apr, 2011 08:43 am
@Fido,
You are wrong - We are a constitutional republic.
Fido
 
  0  
Reply Thu 14 Apr, 2011 08:55 am
@H2O MAN,
H2O MAN wrote:

You are wrong - We are a constitutional republic.
Republics are commonwealths... It is wrong to say we are constitutional and that the English or Romans were not only because their constitutions were unwritten...The constitution of the English meant far more to them unwritten than ours does written... No one has ignored the goals for which the constitution was written to achieve than those in Government; and they get away with it only because enough people have enough wealth... But if the rich do not pay their share, they are asking to be dispossed completely of the wealth they could hold forever if they simply followed the rules, and let the commonwealth support the government and people....Property right are innessential... The support of them or an attack on them is purely a political matter... The rich should do all they can to keep the country from realizing it is us, or them, and that they are not us, or any part of this nation... When we realize our identity, and see them included out, there will be hell to pay, and hell will not take credit...
Fido
 
  0  
Reply Thu 14 Apr, 2011 08:59 am
@H2O MAN,
H2O MAN wrote:


Fido believes the poor should not even try to better themselves and that they should accept their position in life because their efforts may benefit someone else.

.... Spreading the misery around


Watch Atlas Shrug and see what happens when the so called rich decide to stop creating wealth.
Labor creates wealth.. Look at your help wanted adds... There are none for rich people... There are already enough rich people, and most employers have their own dead wood... People hire only because one must have labor to create profit... No one ever hired me for fun or good looks... If I did not make money for them I was down the road like a rocket... Read some real economist and not some ding bat with a comb over...
H2O MAN
 
  -1  
Reply Thu 14 Apr, 2011 09:00 am
@Fido,
Like I said, we are a constitutional republic.

Obama is rich and he is making this an us or them issue.
0 Replies
 
H2O MAN
 
  -1  
Reply Thu 14 Apr, 2011 09:01 am
@Fido,
THE HOLE YOU ARE DIGGING IS GETTING DEEPER.
 

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