Millionaires and Billionaires shouldnt pay a penny in taxes!

Why are you guys fighting about who's paying more?

The real problem is the spending.

Quit complaining about who pays what and start focusing on where the money is going.

The millionairs and billionairs already are rich. Why would they risk their capital to create jobs incountry. The reason they do not create jobs in America, is the same that people get their movies off piratebay, because its cheaper.

Why produce in a country where people have rights, if you can produce in a country where strikers get beaten down, like India or England and they can get away with salaries which is a fraction of what is being payed incountry?

The rich need to have the living daylights taxed out of them, so old money is freed up into the system. Else what you get is that more and more money will end up in the pockets of those who have the means to turn a profit and if they arent taxed, then new money needs to be infused into the system by the fed, which in turns means more inflation, so everybody pays.

they have had ten to twelve years of tax breaks where are the #ing jobs?

reply to post by elitegamer23


the millionaires and billionaires aren't creating jobs, they have been too busy playing in the wall street casino!!!
okay, tell ya what, cut all their taxes in half but raise the capital gains tax to 50%...
our country will probably still be running deficits, but maybe then, they will quite screwing up the economy with their wild speculations and put some of that money back into more tangible things...like businesses and employees!!!

reply to post by elitegamer23

You are either being exceptionally sarcastic (but have forgotten to put the smilies in) or have just landed from another planet and have not yet digested the economic facts FROM ALL AROUND THE WORLD that shows that this ludicrous right wing theory is complete and utter nonsense.

In fact it is soooo bad that Margaret Thatcher in the 80's, a follower of this monetarist theory, modified the figures by a factor of 10 because they could not believe how bad they were and (genuinely) believed it was a mistake. Unfortunately it wasn't a mistake and the correct figures were re-released on good friday.....That would be a holiday weekend in the Uk where the Friday and the Monday was a holiday and thus ensured the bad news got minimum press.

FYI the figures were supposed to show the relationship between less taxes at the top and the increase in income and jobs at the bottom.....needless to say it didn't it was totally the opposite way round.

Please be sarcastic

You know who creates jobs? The people that work, it's that simple, or at least, it USED to be.

In the past, when you couldn't get a job, you simply created one, you'd go help people in exchange for food, or you'd start a one man "business", you'd build things, grow food, anything available. In the past, the only thing that would keep you impoverished was a real inability to work, like old age or a handicap, however, nowadays, how many young people can't find a job? It's truly disgusting, does ANY politician actually think this will end well? My generation will be piss poor, the older generations and corporations are sitting on loads of money and worst of all PROPERTY, especially where I live this is already becoming a major problem, young people can no longer buy houses, me neither, so I wonder where this will lead.

Every "caring" gov in the world did their utmost best to prevent these easy forms of self-employment from continuing and destroyed every opportunity for people to activate themselves. Combine this with the ever increasing problems our economy and society has to deal with and fireworks ensue, I can guarantee you this.

reply to post by elitegamer23


Is this a joke? No, seriously is this meant to be funny? I just don't get it

The job creators will always look to minimise production costs, meaning that they will always try to minimise the greatest production cost which is not tax, but labour. As long as their industry is profitable, they will create the limited amount of jobs required to run their company.

Originally posted by neo96
There should be no income tax on anyone in this country once upon a time in America that was the case, but that would make too much sense it is just easier to use taxes as wedge issues and create animosity between the right and left for this election year.

The only thing income tax does is prop up already bad government spending habits that blow that cash,never going to what it was suppose to go to in the first place,and then rinse and repeat.

If anyone missed the point No one should pay income tax

How do you propose infrastructure, schooling, etc., gets paid/subsidized? Not everyone can afford to pay for their own road, own water main, own sewer line, own streetlights, own sidewalks, private schooling, etc. Saying that no one should pay income tax is a little ridiculous, as all it would do is either make other taxes go higher, or create new taxes.

The op seems to have overlooked the fact that millionaires and billionaires have been getting tax breaks for decades. So maybe he can explain why unemployment is so high? A majority of your millionaires and billionaires come from inherited wealth so why shouldn't they be taxed? All they did to get their money was to wait for mommy and daddy to die.

so by job creators you mean the many millions of small business that actually employ the largest portion of people, and not the handful of companies that only employ a few thousand.....

You mix things up.

I am for eliminating tax on big business, as long as they forfeit all forms of corporate welfare. If they go under, then they do and that's that, like a small business. Others will pick up where they left off.

No more taxes on all job creators I like that. Trouble is the biggest job creators are small business. So they aren't millionaires or billionaires. Those guys only employ thousands....small guys employ....everybody.

Originally posted by elitegamer23
think of all the jobs that would be created if we didnt ask the job creators to pay any taxes.
we would have so many jobs that the whole nation would be employed.

wages would skyrocket because of all the jobs that the job creators would create that we could actually raise taxes on the middle class and poor because they would have so much money. many people in the middle class and lower class could become job creators themselves because they would also have so much money.

any tax cut for the job creators will simply not be enough. that is just keeping another job from being created.

to save america and the working class and poor we must have jobs. reduce taxes on the job creators to zero and id bet you see 12 million new jobs created in no time. after those jobs are filled more job creators will be created and they will create more jobs and america would be great again.

Reduce taxes on job creators to zero, and I'd bet all you would see is them trying to find more new and creative ways to make a profit.

Let me tell you something about "job creators". Their #1 job is to make a profit. How many places have you worked at that could have used an extra person? Why didn't they hire just one more person when there was clearly a need? Because payroll would be too high. What does that mean? "payroll too high"? It means what you are paying people you employ is cutting into your profit. So what you do is add a little extra work to worker 1 and a little extra to worker 2, a little more for worker 3, that should cover all the work that worker 4 did so I can fire him and his salary is now my profit.

See how that works?

Originally posted by TsukiLunar
reply to post by elitegamer23

 

to save america and the working class and poor we must have jobs. reduce taxes on the job creators to zero and id bet you see 12 million new jobs created in no time. after those jobs are filled more job creators will be created and they will create more jobs and america would be great again.

I would take it a step further and say that they should not only not pay taxes, but get a part of the taxes we pay as well! Think of all the "trickle down" that would be happening. The average American would receive more money and we can then pay them more money! This will snowball, I guarantee it.

Flawless!

edit on 2-8-2012 by TsukiLunar because: (no reason given)

Also, any wages that are paid by these job creaters, (when they can afford it of course), should be paid in company tokens.

That way we can only buy goods and services from the company store for inflated prices thus giving them more money to trickle down.

I think we're onto something here.

reply to post by BritofTexas


or how about the job creators don't pay their employees but instead give them educations in production, organizational skills, public relations and other such work related educations. That way their "work" is really a form of education and formation, giving the company another write off.

They can live off the vending machines on site, live in their cars in the parking lot, which they should pay for, parking space is expensive anywhere else. Why the free ride for "employees", I mean students.

Oh, and we can make them each give a kidney as a form of solidarity. Each sells their kidneys on the black market and donates the money to their poor poor companies. It should be required really.

Instead of having kids, they abort early and sell the fetus on the black market for stem cell research. Again, to donate to their poor companies.

I like the mentality behind this. Yeah. That is the way to go.

reply to post by BIHOTZ


That's a great idea.

As long as all the products in the vending machines contain plenty of high fructose corn syrup.

We have to keep up big Pharma's subsides for growing all that corn or the Farmers might actually be able to plant something healthy that makes a profit.

Originally posted by OutKast Searcher
reply to post by elitegamer23

 

think of all the jobs that would be created if we didnt ask the job creators to pay any taxes.
we would have so many jobs that the whole nation would be employed.

Can't tell if serious or satire.

Did you get this from The Onion???

What jobs does wealth like Romney's create -- It is just accumulating - the only money that is worth anything is that that is moving around.

We have experimented with deep tax cuts for more than ten years now. It doesn't work.

I really do hope this was a troll -- but it is obvious that many posters hear are ignorant of the turn of the century history regarding the robber barons and wealth inequity.

reply to post by elitegamer23


Really hard to tell if your being sarcastic or not because you didn't really give any sure fire signs that it was tongue in cheek. What makes it even harder is some people on these forums actually believe in exactly what you posted. (Defending the Bush taxcuts to the grave) Bush tax cuts obviously didn't work and seperated the line between the rich and the middle class to the point were there almost isn't one left in the United States. That should tell you were I stand on this topic.

reply to post by elitegamer23


You're not Trolling hard enough!



And if you're serious.
Are you daft?
The middle class are the job creators. The more money in the hands of the middle class means that they have the money to spend more.
The more middle class spends the more the rich make. The more they need to hire people to meet the demand for their products.

We had a real good economics lesson during 2008 when the housing bubble popped.
And this is exactly what happened.

Originally posted by xuenchen
Millionaires and Billionaires shouldnt pay a penny in taxes!

But it looks like they do pay.

The 10% of households with the highest incomes pay more than half of all federal taxes. They pay more than 70% of federal income taxes, according to the Congressional Budget Office......

Federal Income Taxes

What about the other 90% of households who pay 10 Times what the top 10% pay on the VAST MAJORITY of taxes???

Property taxes, Local, state income taxes, payroll taxes, sales taxes and excise taxes, etc. etc. ...everytime 1 person in the top 10% fills a tank of gas, buys groceries or pays for anything at all...9 other people NOT in the top 10% also pay those same taxes.

If 1 person pays 5 dollars in tax on thier grocery bill
and 9 people also pay 5 dollars each in tax on thier grocery bill..

Which group paid more??

Apply that to every item purchased that you have been taxed on this year..

The VAST MAJORITY of taxes in this country are NOT Federal Income.

Toss in the loop holes, shelters...romney in the bermudas and cayman isles....the incorporation of trusts in tax free zones like Delaware and tell me again how the top 1 in 10 americans somehow pick up the tax burden for the other 9.

Originally posted by xuenchen
Tax increases on the highest 10% would do what exactly ??

How would higher taxes create new jobs and / or recover the lost jobs ?

By not adding to the deficet and allowing the 9 out of 10 Americans to take home and spend the money...Americans who SPEND thier money because they can't afford to save it, unlike the wealthiest like Romney who deposits it in the Caymans.

Increase demand/consumption.

When the wealthiest are given more money...they don't hire...they don't invest in business..Why? The demand/consumption in thier industry hasn't changed because the gov gave them more money, it has likely worsened since the middle class has to pick up the tab of their hand-out.

No Business expands cuz the the business owner is given more money...they expand when they have more customers...a middle class with disposable income.

When the wealthiest are given more money...thier consumption doesn't increase...they are already meeting thier needs. Just more money for that trust the set up in the Bermuda's.

The middle-class? They don't have 200M tucked away in the Cayman Isles...they cashed out thier 401ks to survive while Wall Street got Trillions of thier tax dollars...give the other 9 in 10 Americans a little more money and they SPEND it.

Originally posted by Indigo5
reply to post by lifeform11

 

It is a tounge in cheek OP.

The point is that trickle down has never worked. It was called "Horse and Sparrow" in the 1800's...if you feed the horse enough oats, some of them will pass when the horse craps and the sparrows can pick them out of the crap.

To me....trickle down is more akin to a Rich man asking a man dying of thirst for his last gulp of water, promising he will fill the man's canteen to the top when he pees.

From an economists perspective...trickle down is simply nonsense.

THINK

No business ever hires when it is simply given more money. They hire and expand when DEMAND for thier products (CONSUMPTION) increases....otherwise, when the middle class has more money to spend...businesses hire to meet that consumption/demand.

If you owned a business and no one was buying your products, because they didn't have money....and then the government gave you money...you'd save it. Why would you expand? No one is buying your products!

Trickle down as stimulas to an economist is like telling a mechanic that the best way to start an engine is by pouring gas on the spark plug...you put the gas IN THE TANK.

We need a healthy middle class with disposable income and until we get back to that...any wealthy person that we give more money to is going to pocket it...not hire people to build products that aren't in demand...why bother? They just got money for free and "investing" in a company that nobody can afford to purchase from???WHAT? Why?

Just idiotic logic. Give a business owner a million dollars...he will NOT hire....Give a business man a Million customers and every bank in the world will fight for the privledge to give him money for expansion.

edit on 2-8-2012 by Indigo5 because: (no reason given)

edit on 2-8-2012 by Indigo5 because: (no reason given)

edit on 2-8-2012 by Indigo5 because: (no reason given)

But your caught in a catch22. There are no customers unless they have jobs where they can amass disposable income. The start point is MANY business owner's deciding to hire, not exclusively the demand for the business owner's products or services at the present time. Many business owners take a chance that in the future their products or services will be in greater demand, so they hire more toward that effort. If there is no vision by the business owner that the future has any prospect of growth, then they will not take that chance and they will not hire. It is the fault of the local, state and federal govts that have imposed regulations, taxes, and restrictions that are the cause for owners to not hire. There is no positive future for accelleration if the govts are stomping on your brake pedal.

Trickle down ONLY works if there is incentive to expand the business. Otherwise profit will be hoarded and banked until that incentive presents itself. Why expand if the govts are going to take away all the gain from all your efforts?

reply to post by elitegamer23


I totally agree.