Dean Baker: Obama Clueless
- Thread starter JamesL
- Start date
I say they should return the tax rates back to 2000 levels, not just these selective, class-war tax hikes (or revenue increases). That's 3.6 trillion over 10 yrs right there (according to estimates). Everybody should have some skin in the game, not just the rich. As one of those "millionaires" who did a little over 250k last yr, I have no problem paying my fair share of taxes. I just draw the line at paying for your share as well.
Well, the poor do have "skin in the game", that's all they have in it, really. The rich, never have they had such a variety of effective methods to protect their pile. It's the middle class that's being tasked with paying for everything. A very few of those succeed and move up. A majority [as a group, not every individual], for some 30 years now, have been failing and moving down.
If we handle this properly we can blame Bush for an entire generation of problems.
Fromt the couch of Dr Stunata.
For example, I drink alcohol. Why, because my dad did. See how easy this is. No accountability, I have an excuse, I'm not responsibile, it's not my fault. Oh hmnnn.. why did your dad drink, Oh because his dad drank.
Fromt the couch of Dr Stunata.
For example, I drink alcohol. Why, because my dad did. See how easy this is. No accountability, I have an excuse, I'm not responsibile, it's not my fault. Oh hmnnn.. why did your dad drink, Oh because his dad drank.
Confiscate it all and the middle class will still be stuck with the bill. As I said in my previous post, why do people fail to see this and buy into the class warfare!? They're just funding their own economic death.
The Wall Street Journal researched this in 2009, using data from 2006, at the peak of the last expansion, when everyone was doing well:
Consider the IRS data for 2006, the most recent year that such tax data are available and a good year for the economy and âthe wealthiest 2%.â Roughly 3.8 million filers had adjusted gross incomes above $200,000 in 2006. (Thatâs about 7% of all returns; the data arenât broken down at the $250,000 point.) These people paid about $522 billion in income taxes, or roughly 62% of all federal individual income receipts. The richest 1% â about 1.65 million filers making above $388,806 â paid some $408 billion, or 39.9% of all income tax revenues, while earning about 22% of all reported U.S. income. â¦
But letâs not stop at a 42% top rate; as a thought experiment, letâs go all the way. A tax policy that confiscated 100% of the taxable income of everyone in America earning over $500,000 in 2006 would only have given Congress an extra $1.3 trillion in revenue. Thatâs less than half the 2006 federal budget of $2.7 trillion and looks tiny compared to the more than $4 trillion Congress will spend in fiscal 2010. Even taking every taxable âdimeâ of everyone earning more than $75,000 in 2006 would have barely yielded enough to cover that $4 trillion.
When you hire a community organizer to be President of the United States, what you get is someone who's goal is to transfer wealth from those who've earned it to those who haven't under givernment authority.
Obama has a one track mind and everything he says and does is aimed at that single goal. He knows no other way to do things having never had education nor experience at leading or governing.
Obama has a one track mind and everything he says and does is aimed at that single goal. He knows no other way to do things having never had education nor experience at leading or governing.
Because they see societies with less stratification than ours doing better by many measures.
Because they see societies with more stratification than ours tearing themselves apart.
Edit: if we can't touch the "job creators" because they create jobs, then where are the effing jobs? They're got more than enough money, record amounts in fact.
