Taxing the Rich does not kill Jobs

[FightTheFuture]

Quote from Ricter:

Typical pollyannish, denier response.

Do you really believe our problems are the failure of the American character? The millions kicked out of work in the past two years? The stagnation or diminution of buying power for the majority of the population for three decades? All of them mere character faults? If so, why should we trust your opinion, wouldn't your character probably be flawed as well?

Declining character, declining work ethic, lack of self-responsibility with the government accelerating its pace. With the government creating the current financial crisis by setting up uber programs with the inevitable failure of financial business and the assured defaulting of home(mortgage)"owners". That's what you wanted. That's socialism running its course.

Yes, we can't. There's no going back now. I can't see the fed gov ever being cut down to 10%.

 

[murray t turtle]

Quote from MarketMasher:

The gov't is definitely spending WAY too much - and it seems the Fed just prints the money they want to spend.

BUT - as far as taxes, there are 2 things that pop up that make no sense.

There was a story recently that Google pays like 2% tax because of all their offshore and sheltering. How is that ok?

On individuals, I have seen Arthur Laffer repeatedly argue that if you raise the taxes on the rich, they will just use loopholes and shelters to avoid paying. BUT - that is where he leaves the argument. He never suggests to close the loopholes or avoidance schemes, as though it is their right to have them. Since when?

Since the taxes are not going away, saying "Don't tax the rich!" is equal to saying "Only tax the middle-class!", because it ain't coming out of the pockets of the poor!

=============
Mr market masher[mm];
good point about the gov spending too much.

However your guesstimate on GOOG 2% fed tax , seems too low;
federal tax %alone on gas[ & % fed telephone. tax..] is more that that...........................................


Actually I agree with much of the fed gov tax breaks/cuts/loopholes. For example , most Americans who give to Churches/synagogs,[loophole] do not have to have a tax break . But really, the gov needs to give it.

Giving gift deductions,tax breaks/loopholes for churches /synagogs ;
makes a wise statement. Or one can be like the King of Egypt & his Egyptian army, fight & disrespect the private
sector/Church/synagog-but
God drowned them in the Red sea.

Its not an anti- Arab statement;
agree with the many in market [mm]& King of Arabia-cut American gas tax,LOL]

 

[Scataphagos]

Quote from FightTheFuture:

"... There's no going back now. I can't see the fed gov ever being cut down to 10%.

What kind of shape will America be in when the red bar gets to 60%? 70%? At what point does the the system collapse because it can no longer be supported by the blue bar? How close are to that right now?

 

[Lucrum]

Quote from Ricter:

Typical pollyannish, denier response.

Do you really believe our problems are the failure of the American character? ...

Some of them certainly are.

 

[FightTheFuture]

Quote from Scataphagos:

What kind of shape will America be in when the red bar gets to 60%? 70%? At what point does the the system collapse because it can no longer be supported by the blue bar? How close are to that right now?

Nice chart. Didn't know we were so screwed already.


But I don't want to live like Cuba, Haiti....

 

[PocketChange]

Reality is we can generate all the taxes we need to operate our govt if we enact a simple 1% tax on all monetary exchange.

Every time you deposit money in the bank you get dinged 1%.
Every trade - ding 1%
Every exchange of consideration gets dinged 1%.
Every foreign transaction using dollars gets taxed 1%

Simply eliminate paper money and go all electronic with the ding built in.

No exemptions or loopholes, All govt agencies work on a cash based balanced budget and all transactions without exceptions get dinged 1%.

No income tax, No sales tax, no property taxes, no gasoline tax, no telecommunication tax... infact, all other taxes of any kind are abolished and declared illegal.

GDP is a false indicator... Continuously Taxed Monetary flow is the bottom line solution.

 

[AMT4SWA]

Quote from Ricter:

This is so utterly ignorant (I mean that in the value-neutral sense of the word) that one does not know where to begin. Hundreds of hours of study are missing. You're quick to blame conspirators for everything, is it possible they have shaped your understanding of US history?

http://www.elitetrader.com/vb/showthread.php?threadid=211575

I was just stating the OBVIOUS!

 

[AMT4SWA]

Quote from PocketChange:

Reality is we can generate all the taxes we need to operate our govt if we enact a simple 1% tax on all monetary exchange.

Every time you deposit money in the bank you get dinged 1%.
Every trade - ding 1%
Every exchange of consideration gets dinged 1%.
Every foreign transaction using dollars gets taxed 1%

Simply eliminate paper money and go all electronic with the ding built in.

No exemptions or loopholes, All govt agencies work on a cash based balanced budget and all transactions without exceptions get dinged 1%.

No income tax, No sales tax, no property taxes, no gasoline tax, no telecommunication tax... infact, all other taxes of any kind are abolished and declared illegal.

GDP is a false indicator... Continuously Taxed Monetary flow is the bottom line solution.

The GOVT in current form does NOT DESERVE a DING every time a dollar moves around!

 

[Scataphagos]

Quote from FightTheFuture:

Nice chart. Didn't know we were so screwed already.


But I don't want to live like Cuba, Haiti....

Before long, you won't want to live here either.

 

[Lucrum]

Quote from PocketChange:

Reality is we can generate all the taxes we need to operate our govt if we enact a simple 1% tax on all monetary exchange.

The reality is we ALREADY generate all the taxes needed to operate our government. Congress is addicted to spending our money, largely in exchange for our votes which (collectively) like a bunch of dopes we keep giving them. One percent transaction tax? They'd just spend it and even more the deficit of which would then have to be printed and or borrowed. Then they'd say if it was only 2% our problems would be solved. Only congress would then spend ALL of that increase plus even more, which would have to be printed or borrowed. Then it would be a 5% tax and so on and so on...


WE DO NOT HAVE A REVENUE DEFICIENCY WE HAVE A CONGRESSIONAL SPENDING PROBLEM EXACERBATED BY A VOTER ENTITLEMENT MENTALITY