PoliTalker
Diversity Makes Greatness
Higher taxes on the rich are totally Constitutional.
We did it before. No SCOTUS ruling it could not be done.
And guess what?
That was when we had the strongest middle class.
Just the facts.
Tax The Rich Enough To Cover The Deficit.
- Thread starter PoliTalker
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Higher taxes on the rich are totally Constitutional.
We did it before. No SCOTUS ruling it could not be done.
And guess what?
That was when we had the strongest middle class.
Just the facts.
So, like if the tax rate is 0% and the government decides to raise the tax rate, to say 5%, it won't increase tax revenues in the long run? You're Neocon moron in good standing.
No, they're not but it has not been tested as they agreed to it. And we still have a middle class.
PoliTalker
Diversity Makes Greatness
Hello Celticguy,
The middle class is vanishing.
That's what happens when wealth inequality becomes extreme.
Can't have it both ways.
The middle class is vanishing.
That's what happens when wealth inequality becomes extreme.
Can't have it both ways.
PoliTalker
Diversity Makes Greatness
Hello Celticguy,
Personal anecdotes are not a good reference for national trends.
The rich keep getting richer but the rest are not growing their wealth as fast. A good 40% are not building wealth at all. Home ownership, a good indicator of middle class wealth, is down. Young people are stuck paying off student loan debt before they can take on property debt.
Actually, they become even more wealthy because once a fortune passes the living-on-just-the-interest level, even conservative portfolio management will result in significant growth over time. Those kinds of fortunes get handed down and just stay in the family.
The cost of that is how tough it is to start with nothing and build up to that. It gets more and more difficult every year. Capitalism seeks to eliminate more and more high paying jobs, removing mundane repetitive tasks and delegate them to lower paid positions, fewer high paid jobs, more lower paid low benefit jobs. Many jobs require a certain amount of education/training, which is often on borrowed money, whereas decades ago these new workers were able to buy homes, now they have the student loans to pay off instead of making home payments. They are saddled with a mortgage, but get no home in return. Hence, they build no wealth. They work, they try, they strive, they get screwed, they end up with nothing but rent payments and debt. Nothing to pass down. Each successive generation has it tougher to build wealth. The rich get richer. Wealth inequality grows ever more extreme. It is a recipe for a failed economy.
Personal anecdotes are not a good reference for national trends.
The rich keep getting richer but the rest are not growing their wealth as fast. A good 40% are not building wealth at all. Home ownership, a good indicator of middle class wealth, is down. Young people are stuck paying off student loan debt before they can take on property debt.
Actually, they become even more wealthy because once a fortune passes the living-on-just-the-interest level, even conservative portfolio management will result in significant growth over time. Those kinds of fortunes get handed down and just stay in the family.
The cost of that is how tough it is to start with nothing and build up to that. It gets more and more difficult every year. Capitalism seeks to eliminate more and more high paying jobs, removing mundane repetitive tasks and delegate them to lower paid positions, fewer high paid jobs, more lower paid low benefit jobs. Many jobs require a certain amount of education/training, which is often on borrowed money, whereas decades ago these new workers were able to buy homes, now they have the student loans to pay off instead of making home payments. They are saddled with a mortgage, but get no home in return. Hence, they build no wealth. They work, they try, they strive, they get screwed, they end up with nothing but rent payments and debt. Nothing to pass down. Each successive generation has it tougher to build wealth. The rich get richer. Wealth inequality grows ever more extreme. It is a recipe for a failed economy.
I provide a real world example to counter your rather broad brush.
Obama's non recovery hurt everyone but the middle class most of all. As to student loan debt, BO seized the student loan business and created this monster where people birr oui wed knowing they would never repay.
And the rich have done nothing but get richer for 6000 years. Might as well get used to that.
I do a lot of traveling, and I think I can conclude that the middle-class is vanishing. Look at any city with a high cost of living. Either you're rich, or you live in government-subsidized housing or a hole.
I know many elderly people who lived middle-class lives even without a college degree. Now, without a strong skill or a college degree, you live poor.
USFREEDOM911
MAKE AMERICA GREAT AGAIN
GEE; I wonder what would occur, if the RICH were taxed that high and they then decide to move their "businesses" over seas and took their money with them??
PoliTalker
Diversity Makes Greatness
Hello Celticguy,
Another way of saying 'broad brush' is called keeping the big picture in mind.
No, that is fiction. You cannot blame the hurt of the Great Recession on Obama. Classic history rewrite conservative myth.
All of which would be solved with public college for all who qualify. It is so simple to realize that k-12 needs to become K-16. Conservatives are just too chintzy to admit it.
What is the point of any human earning more than can be spent in a lifetime, even with a life of complete luxury?
Is it justifiable when so many others go without basic needs?
Our Constitution talks about the general welfare, not the selective welfare.
Another way of saying 'broad brush' is called keeping the big picture in mind.
No, that is fiction. You cannot blame the hurt of the Great Recession on Obama. Classic history rewrite conservative myth.
All of which would be solved with public college for all who qualify. It is so simple to realize that k-12 needs to become K-16. Conservatives are just too chintzy to admit it.
What is the point of any human earning more than can be spent in a lifetime, even with a life of complete luxury?
Is it justifiable when so many others go without basic needs?
Our Constitution talks about the general welfare, not the selective welfare.
Yeah to places with higher tax rates.
Average recovery time for a recession/depression 18 months. FDR and BO 8+ years. Because both tried to spend their way out of it. That plan does not work. Japan trued it as well, same 10 year fail.
Wealth envy does not justify robbery.
When Teddy Roosevelt installed the inheritance tax, he made the point that fortunes passed through families are different in kind that one made by a person who makes a fortune with a great idea . https://www.nytimes.com/1999/08/09/opinion/teddy-roosevelt-betrayed.html Teddy saw the passing on of fortunes was a threat to the American experiment.
PoliTalker
Diversity Makes Greatness
Hello Celticguy,
The Great Depression and the Great Recession were not average economic events. Treating them as such is flawed thinking.
You have applied an incorrect basis to set up your argument. The Great Recession was far deeper and more serious, and longer lasting, which required a far deeper and more serious, longer lasting recovery.
An incorrect assessment. Wealth envy is a right wing talking point. Nobody is lusting after anyone else's wealth. The left is not talking about envying the money of the rich. A rich man has never been taxed into poverty. The TARP worked. It was completely paid back by the economic benefit. The Economic Stimulus worked. It was actually completely paid back by the rebounding economy. The economy would have rebounded quicker if the Stimulus had been larger. It needed to be larger but Republicans prevented it. The reason they gave? They were afraid the debt would grow too quickly. Where is that fear now?
The current willingness of Republicans to irresponsibly ignore the billion dollar deficit during the good times which would allow it to be reduced totally blows away any argument Republicans previously had about controlling spending. Not a valid argument any more.
The Great Depression and the Great Recession were not average economic events. Treating them as such is flawed thinking.
You have applied an incorrect basis to set up your argument. The Great Recession was far deeper and more serious, and longer lasting, which required a far deeper and more serious, longer lasting recovery.
An incorrect assessment. Wealth envy is a right wing talking point. Nobody is lusting after anyone else's wealth. The left is not talking about envying the money of the rich. A rich man has never been taxed into poverty. The TARP worked. It was completely paid back by the economic benefit. The Economic Stimulus worked. It was actually completely paid back by the rebounding economy. The economy would have rebounded quicker if the Stimulus had been larger. It needed to be larger but Republicans prevented it. The reason they gave? They were afraid the debt would grow too quickly. Where is that fear now?
The current willingness of Republicans to irresponsibly ignore the billion dollar deficit during the good times which would allow it to be reduced totally blows away any argument Republicans previously had about controlling spending. Not a valid argument any more.
This is silly; if you taxed the rich 100% you would not solve the deficit. You see, it is not a revenue problem, but a SPENDING problem.
Your guy Obama, he spent trillions more than he took in. I never saw any leftists whine about deficits during eight years of Obamunism. Why is that?
PoliTalker
Diversity Makes Greatness
The rich pay the lions share of the taxes paid out in this country. How is it NOT enough? Nearly 50% of citizens in the USA pay nothing at all. Some even get more back than they paid in.
Once again, the economy is not finite. It is infinite. We do not have a revenue problem, but rather, a SPENDING problem. Government is not the answer, it is a necessary evil that needs to be kept in check by the Constitutional limitations placed on it.
Name me ONE nation that has ever taxed its way into prosperity.
LIE and LAME.
Inequality arguments are the lamest arguments of all. There will always be wealth inequality. There will always be wage inequality. Some people actually are better educated than others. Some people actually work harder than others.
No one in this country is forced to work for less then they believe they are worth. No one is forced to work in a place where they don't feel they are appreciated. No one is forced to work anywhere they do not choose to work.
