Redistribution of wealth, page 1

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Topic started on 4-11-2011 @ 02:30 PM by Cassius666

Many people who have money are angry at the measures obama takes. New Taxes redistribution of wealth, they want none of it, they want the tax breaks, want to keep their money. So what would the alternative be? The alternative would be more debt infusing new money in the system, which would also cause inflation to rise even further,

Is this feasible? Can the bottom 50% who are on a fixed income mostly, afford another inflation hike? Can the bottom 50% be squeezed out any harder? What should they do without? Are they really entitled to be able to afford housing, quality food a motor? What if they are squeezed out harder, live like the working poor in China or bombay and we are back at square one after another couple of years?

reply posted on 4-11-2011 @ 02:51 PM by GeorgiaGirl

Originally posted by Cassius666
Many people who have money are angry at the measures obama takes. New Taxes redistribution of wealth, they want none of it, they want the tax breaks, want to keep their money. So what would the alternative be? The alternative would be more debt infusing new money in the system, which would also cause inflation to rise even further,

Is this feasible? Can the bottom 50% who are on a fixed income mostly, afford another inflation hike? Can the bottom 50% be squeezed out any harder? What should they do without? Are they really entitled to be able to afford housing, quality food a motor? What if they are squeezed out harder, live like the working poor in China or bombay and we are back at square one after another couple of years?

Or....

we could spend less. Live within our means as a country. Let the federal government ONLY take on those roles as defined in the Constitution.

ALSO--we could stop redistributing the wealth through the income tax process. I believe that NO tax money should be taken from one person and given directly to another as an "earned income tax credit". The EITC is a type of "sneaky welfare"--I think some of the people who get it actually do think they are getting a "refund".

reply posted on 4-11-2011 @ 02:56 PM by jeichelberg

I would venture to say this...if you took all the money from all the people of the world and passed it out equally among all the people of the world, within a week's time, the people who had the money before will have the money again...the people who had no money before will have no money again...I believe that...no proof, just a belief...

reply posted on 4-11-2011 @ 02:59 PM by jeichelberg

...consequently, if you took all the troubles from all the people of the world and passed them out equally among all the people of all the world, you would be unable to make it past person one, as that initial person would instantly, upon finding out what now constitutes his share of trouble, DEMAND to have his own troubles back...

reply posted on 4-11-2011 @ 03:01 PM by brianmg5

reply to post by Cassius666

Most millionaires want higher taxes on millionaires.

www.abovetopsecret.com...

So don't blame them, blame the republicans in congress.

reply posted on 4-11-2011 @ 03:04 PM by GringoViejo

reply to post by brianmg5

Or don't spend so much time trying to assign blame, and take an active role in fixing the problems we all face. It starts in DC, it needs to end in DC

reply posted on 4-11-2011 @ 03:06 PM by jjkenobi

Originally posted by brianmg5
reply to post by Cassius666

Most millionaires want higher taxes on millionaires.

www.abovetopsecret.com...

So don't blame them, blame the republicans in congress.

You can tax every millionaire in America at 100% and it still wouldn't make a dent in the federal budget. The only answer that will work is for the fed to spend less money.

If the Dems really want revenue go after companies like Verizon and GE that pay nothing in taxes.

reply posted on 4-11-2011 @ 03:06 PM by Blackmarketeer

There's wealth redistribution going on alright;

30 Major Companies Paid No Federal Taxes Last 3 Years

According to the U.S. tax code, corporations pay a 35% tax rate on their earnings. But at least 30 of them paid zero federal income over the last three years, while hundreds of other companies paid half the official corporate rate.

The findings, produced in a new report from Citizens for Tax Justice and the Institute on Taxation and Economic Policy, included 78 major businesses that paid no federal income tax in at least one of the last three years. Included in this group were five banks that received bailout funds from the government: Wells Fargo, Goldman Sachs, PNC Financial Services Group, Capital One Financial Inc. and State Street Corp. An even larger group (280) paid federal income taxes equal to 18.5% of their profits.

And it's from the middle class to the upper class. So let's cut social security and give more tax breaks to the wealthiest.

reply posted on 4-11-2011 @ 03:09 PM by Blackmarketeer

reply to post by jjkenobi

If the Dems really want revenue go after companies like Verizon and GE that pay nothing in taxes.

How, exactly? By singling them out, make a special case against only those companies?

The reason Verizon and GE and a host of other companies pay nothing in taxes in because of tax loopholes, the same loopholes that Honeywell International, DuPont, Yahoo, Boeing and Corning used last year to avoid paying ANY TAXES.

The only way to fix this is to CLOSE the tax loopholes. Something the GOP has been vehemently opposed to doing.

edit on 4-11-2011 by Blackmarketeer because: (no reason given)

reply posted on 4-11-2011 @ 03:14 PM by neo96

YouTube Link

Half this country does not pay any income tax and and i am not talking about those evil corporations that is what we are talking about when people say redistribution rob from the rich give to the poor but the reality is that money does not go to the poor. It goes to special interest and i am not talking about corporations when TARP has been repaid but it doesn't cover Green Corporations and anything the current administration can pull out of his hate to raise his poll numbers.

That millionaire "poll" is straight up bs because the majority of small business would be classified as "millionaire" with liabilities that could bankrupt them anytime.

Wealth redistribution is failing and has failed no matter where you look it is the same thing as social engineering putting everyone in the poor house and here you go up to this moment in time where more people are consuming than producing and introducing new wealth into the system and wait for it:

You have ran out of other people's money greed of the masses with their 3 trillion in tax credits and deductions all that free health care,Government pensions,free homes and free educations and there it is.

They want more well guess what folks even if you took every cent from the rich which is around 800 to 1 trillion you can fund 1 program that's right 1 program and then what?

Where does the cash come from the next day?

edit on 4-11-2011 by neo96 because: (no reason given)

reply posted on 4-11-2011 @ 04:25 PM by brianmg5

Originally posted by jjkenobi

Originally posted by brianmg5
reply to post by Cassius666

Most millionaires want higher taxes on millionaires.

www.abovetopsecret.com...

So don't blame them, blame the republicans in congress.

You can tax every millionaire in America at 100% and it still wouldn't make a dent in the federal budget. The only answer that will work is for the fed to spend less money.

If the Dems really want revenue go after companies like Verizon and GE that pay nothing in taxes.

Hmm, I disagree. I think a little of both is in order. Remember that when programs are cut and the bottom falls out of the middle and lower class they lose their spending power. And the economy will die without the middle and lower classes feeding it. Those programs you think we should cut are helping feed the economy.

And if you look back through our history, the economy was healthier with higher tax rates on top earners. A perfect example is the surplus that Clinton left office before Bush gave tax cuts to everyone.

edit on 4-11-2011 by brianmg5 because: (no reason given)

reply posted on 4-11-2011 @ 04:26 PM by brianmg5

Originally posted by GringoViejo
reply to post by brianmg5

Or don't spend so much time trying to assign blame, and take an active role in fixing the problems we all face. It starts in DC, it needs to end in DC

My active role is participating in OWS and voting out the party of "NO". Both of which requires me to "blame." And rightly so.

edit on 4-11-2011 by brianmg5 because: (no reason given)

reply posted on 4-11-2011 @ 06:06 PM by Cassius666

Where does spending factor in it all? With growth and profits comes inflation an inflation from the top that crushes those on a fixed income. Inflation from the bottom rising wages would have brought balance, but those who now scream socialism applauded the intervention of the state when it was crushing unions. Now more money can be infused into the system hurting those on a fixed income even Moräne, or taxes for those who can afford them are raised. Or inflation from the bottom but the state can only mandate a minimum wage.

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