Can socialists in this country explain how taxing American corporations/companies more is good?

[AntonToo]

108 million freeloader using non-contributory program.

Did you read it?

Most of that number are children, who obviously have no say in political process.

23.3 percent of women ages 16 to 64 received welfare in 2011, while that same year 19.2 percent of men ages 16 to 64 received welfare.

So we have about 21% beneficiaries VS about 70% working...and lets say there is 10% overlap since some that work still receive some benefits because they don't make enough to make ends meet, so 21% vs 60%. CLEARLY there is not enough self-interest chasing "freeloaders" to politically make the other 60% do something they collectively don't want.

 

[Mertex]

Corporate Taxes
Big corporations are making bigger and bigger profits, but they’re contributing less and less in taxes. That means they are doing less and less to help build roads and bridges, maintain our schools and fund the many other services government provides. Sixty years ago, 30 percent of total federal tax revenue was from corporations. Today […]

So let's run those numbers:

The top 10% of wage earners in this country pay over 70% in all collected income taxes.

Corporations pay 11% of all collected income taxes.

This means between the top 10% of wage earners and corporations, they are collectively paying over 81% of all federal income taxes collected. that means the rest of us have to come up with the other 19%. But they're not paying enough?????

Yep, that's socialism and the greed of socialists like Mertex.

Ironic she says the rich always want more, isn't it?

Another trickle down sucker, Kaz......bwahahaha.

 

[Mertex]

Sarcasm? Your admission you're a loser

If you're the definition of a winner, I'd take being a loser every time..

If Kaz supports Trump, he's a loser already......

2016 Election: Clinton vs. Trump

 

[Mertex]

Corporate Taxes
Big corporations are making bigger and bigger profits, but they’re contributing less and less in taxes. That means they are doing less and less to help build roads and bridges, maintain our schools and fund the many other services government provides. Sixty years ago, 30 percent of total federal tax revenue was from corporations. Today […]

So let's run those numbers:

The top 10% of wage earners in this country pay over 70% in all collected income taxes.

Corporations pay 11% of all collected income taxes.

This means between the top 10% of wage earners and corporations, they are collectively paying over 81% of all federal income taxes collected. that means the rest of us have to come up with the other 19%. But they're not paying enough?????

Yep, that's socialism and the greed of socialists like Mertex.

Ironic she says the rich always want more, isn't it?

She'll say the rich are greedy for not wanting more of what they have TAKEN so it can be handed to someone that didn't earn it.

“I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money.”
― Thomas Sowell

Socialism hands one group something they didn't earn and the only way it can happen is to take it from the other group that did. Sad thing is those that support that kind of thing, much like Mertex, don't see the freeloaders always wanting more as a problem.

Says one of two losers (Kaz) who post here and don't contribute to the Forum. Moochers....who like free stuff but complain that Dems like free stuff. You can't make this shit up.

 

[Mertex]

That doesn't include social security, retard. I referenced MEANS-TESTED programs. Do you know what that means.

It's clear you don't know the difference between Contributory programs (Social Security, Medicare) and Non-Contributory programs (the 13 where someone doesn't contribute to the pot from which they draw).

Retard, here is number of people receiving means-tested programs:

52 million - 21.3% of US Participates in Government Assistance Programs Each Month

The only way to make into 100 million is to throw in social security, which is where you I thought you were getting your number from...but nope, I stand corrected, you were just using bullshit number.

This says otherwise and it references HHS numbers:

www.cnsnews.com/news/article/terence-p-jeffrey/hhs-report-percentage-american-welfare-hits-recorded-high

108 million freeloader using non-contributory program. That means they get but don't put in.

Another 43 million receiving contributory programs. That means they had to put in in order to get out.

Even with your number, and it's not true, that mean 1 in every 4 people in this country is a freeloader. You don't seem to care.

You're a freeloader on this forum........bwahahaha!

This:

Offline
Conservative65 Gold Member

Vs this:

MertexCat Lady =^..^=Gold Supporting Member

 

[Markle]

Hey conservatives,

How would you pave an maintain our roads?
How would you educate our children?
How would you keep our air, water and food clean?
How would you pay the police?
How would you pay judges?

Your world kind of doesn't make any sense.

Same as we do today, with property taxes and, in some cases, sales taxes.

 

[jbander]

Go ahead and explain why that is a good thing for the country.

Keep in mind folks that the American socialists are by far the dumbest people on the planet.

Let us hear why American companies should be taxed more and why that is a good thing.

First everyone here should know that this clown has no clue what a socialist is. Second there is a direct historical relationship between the level of civilization to the level of taxes. In the early 50's they paid 6% of the GDP now they pay less then 1%, in 54 they paid 30% of our total tax revenue. It went down to less then 7% a few years back. Business right now has the highest profits in history and their profits % is at it highest. From 81, when The trickle down lie give away to the wealthy ,was created business profits where 170 billion now they are 1800 billion. Their net profit margin is at 13.5%, its never been higher then that. Hell this is easy every stat supports my opinion and makes a laugh over your opinion.

 

[Markle]

Republicans want to destroy this country and suck the dick of the people that are offshoring all of our jobs.

Oh brother. You people. You listen to some idiot, that knows almost nothing, and mindlessly repeat it.

Ok, so let's actually look at reality. Why does Wisconsin suck? Because of tax cuts? You moron. You mindless ape.

Wisconsin

Wisconsin's 2016 Business Tax Climate Index Ranks 43rd
Wisconsin ranks 43rd on the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes (32nd), individual income taxes (43rd), sales taxes (13th), unemployment insurance taxes (36th), and taxes on property (33rd), including residential and commercial property.

43rd.

Meaning, out of 50 states, there are only 7 states that are worse for business.

This includes corporate taxes, 7.9%, Sales tax 5%, and property tax that averages $1800 per person.

Wisconsin's individual income tax system consists of 4 brackets with a top rate of 7.65%. The top rate ranks 9th highest among states levying an individual income tax. Wisconsin's state and local tax collections per person were $1,258 in 2013, which ranked 13th highest nationally.

Wisconsin's individual income tax system consists of 4 brackets with a top rate of 7.65%. The top rate ranks 9th highest among states levying an individual income tax. Wisconsin's state and local tax collections per person were $1,258 in 2013, which ranked 13th highest nationally.
​

Over all tax collection was 13th highest in the Union.

And as for this ignorant mental case you posted.... here's the facts....

View attachment 85474

Wisconsin's economic situation was worse than Minnesota, and the US average, long before the tax cut, and longer than Scott Walker was ever elected.

Wisconsin has been, and still is, a business hostile State. Left-wing policies have made, and continue to make, Wisconsin noncompetitive to the rest of the country.

If that wasn't enough, the left-wingers have been against the logging and paper industry for decades, and Wisconsin's primary industry, is the paper industry, which between the digital age, and the growing paper imports from China, the paper industry in the US is staggering.

Paper Cuts: Wisconsin's paper industry battles the threat of digital, China as a paper power.

And lastly.... Trickle down is how the world works. The only reason there is even ONE JOB in Wisconsin is because of Trickle down.

Everything is trickle down. Everything. Not one single job would exist, without trickle down. It has always worked, and continues to work. And for you, or any other left-winger to even attempt to deny it, only signifies that you are completely and utterly unqualified to talk about the economy, and likely not mentally stable to enough to talk about any topic.

To see how foolish this stupidity is from the left, just consider the counter claim. Are you seriously suggesting that job growth would drastically increase if we just taxed the companies and people leaving Wisconsin at a higher rate? You really think that makes sense in left-tard land? How dumb can any human being be, and still breath, let alone type something this moronic into a forum?

If we just jack up taxes on companies and the public.... why jobs will just pop into existence from all the companies leaving.... yeah brilliant.

Wisconsin ranks among top states people are leaving

Just jack up those taxes dude. Everyone will turn right around "I love paying more taxes!", and head back to Wisconsin. Only the dumbest of left-wing-nuts would post this crap.

As you well know, people are leaving Wisconsin from the major cities, such as Milwaukee, run into ruin by Democrats for decades.

Your source doesn't show fees. When you add it after the fact without proof that what you say is what you say, the only thing that counts if what the chart shows. Not my fault you can't add.

If only you could think, dupe....

All I needed to do was look at the chart you posted and that it didn't say what you claimed it said. I don't have to think you're an idiot and a liar, I know because I've thought about it.

Keep obsessing on one detail, dupe. And absolutely miss the point. Idiot.

The detail I state is the point. The point is your source didn't show what you claimed and you tried to add in things the source doesn't include.

The rich don't pay enough, the middle class and poor too much. What a gd idiot...

Specifically, how is that possible since the lowest 47% of workers pay no income tax?

 

[Spare_change]

With unions, those jobs get paid more than the skills are worth.

No they don't. A union ensures that the workforce is getting a fair share of the wealth they create

$50 trillion in wealth has been added to our economy since 2009. Workers saw very little of that. Strong unions would have ensured it

Fair share? Tell me how much is your fair share of someone else's money?

It is the workers creating that wealth. Because their ability to collectively negotiate, they see less and less of that wealth they generate

There's your mistake ... workers don't "create" the wealth. They work for a wage .... they are a tool the employer uses to create wealth, no different than a hammer, or a printing press. Are you suggesting we should pay hammers a 'living wage', not? What do you think the 'living wage' is for a printing press these days.

If you are not a rich guy I dont understand your views. Socialists fought to change the working week to humanistic hours and to improve work environment for workers. Before even children had to work in factories hard menial labour. The minimum wage is another improvement, you cant pay 1$ a hour for hard work thats inhumane. There needs to be regulations or capitalists would eat the small people.

No --- socialists did none of those things.

 

[Spare_change]

That 10% should go to tax cuts for the nonrich.

Based on your supposed observations, I can only conclude: 1) you're a damned liar, and never been out of your mother's basement, or 2) you spent you whole time in Europe fired up ganja

Why do Eurocars have to have their suspensions tweaked for our crap roads? They have many fewer poor and living wage, cheap University, great vacations, and training. WTF are you talking about?

LOL --- selecting diffuse 'facts' (very much in question) to support a fallacious argument.

Eurocars, in general, have to have their suspensions "tweaked" in order to meet our more stringent safety standards. The same applies for glass, lights etc. It has nothing to do with our roads. I bought my first Jaguar while assigned to USAFE in Belgium --- great deal UNTIL I picked up the tab for making it roadworthy in the US.

To argue that they have "many fewer poor" is disingenuous. Your 'argument' is fallacious. You should be comparing standard of living. Our poor make more than the 'average' European income.

The same applies for your nonsensical comment about universities - compare them not to each other but to the average income for that country. You'll come away with a completely different observation.

As for vacations, benefits, etc ---- what the hell do you think is happening in Europe today? Pensions, 30 hour work weeks, socialized medicine are driving EVERY country toward bankruptcy. Some will take longer to get there, but they are all headed down the same road.

Boooshies drove them to bankruptcy, dupe. Duh. They don't have poor like ours. We're a gd oligarchy.

Are you fucking kidding me?

I apologize ...

I thought you were somebody who hadn't dipped into an alternate reality. Our poor are the worst? Seriously? LOL

DEFINITELY worse off than in France, Germani, Holland Switz, Scandinavia, OZ, NZ, Canada. DUHHHHH Dupes...
None And get 6 week vacations, free day care, free health care etc etc DUHHHHHHH.

i LOVE the word "free" ---- who pays for those "free" things?

 

[Markle]

That's what those in business do. They tell others they're paying to do things what to do. Don't like it, start your own business.

Part of what I do is in construction. I do it in addition to my full time job. I flip houses. While my full time work schedule prevents me from doing more of what you call menial labor, when I get a chance I do much of the work myself. That way when I sell what I've flipped, I make more.

Weekends free? It's easy to tell you're a worker. Can't remember the last time I didn't do something on a weekend. The only thing socialists have done related to that is take more of what I've earned to give to some worthless freeloader that thinks it's owed to him.

You got that right. I haven't been on a vacation in over 35 years. I have too much work to do around here at the apartments to consider going to Florida or Hawaii; probably never will either. I use all my vacation time from work to stay home and catch up on various projects.

That's a shame. There is so much to see and have your breath taken away.

A cliche, but true, I've never heard anyone on their deathbed say they wished they had taken fewer vacations and worked more hours.

 

[francoHFW]

Republicans want to destroy this country and suck the dick of the people that are offshoring all of our jobs.

Oh brother. You people. You listen to some idiot, that knows almost nothing, and mindlessly repeat it.

Ok, so let's actually look at reality. Why does Wisconsin suck? Because of tax cuts? You moron. You mindless ape.

Wisconsin

Wisconsin's 2016 Business Tax Climate Index Ranks 43rd
Wisconsin ranks 43rd on the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes (32nd), individual income taxes (43rd), sales taxes (13th), unemployment insurance taxes (36th), and taxes on property (33rd), including residential and commercial property.

43rd.

Meaning, out of 50 states, there are only 7 states that are worse for business.

This includes corporate taxes, 7.9%, Sales tax 5%, and property tax that averages $1800 per person.

Wisconsin's individual income tax system consists of 4 brackets with a top rate of 7.65%. The top rate ranks 9th highest among states levying an individual income tax. Wisconsin's state and local tax collections per person were $1,258 in 2013, which ranked 13th highest nationally.

Wisconsin's individual income tax system consists of 4 brackets with a top rate of 7.65%. The top rate ranks 9th highest among states levying an individual income tax. Wisconsin's state and local tax collections per person were $1,258 in 2013, which ranked 13th highest nationally.
​

Over all tax collection was 13th highest in the Union.

And as for this ignorant mental case you posted.... here's the facts....

View attachment 85474

Wisconsin's economic situation was worse than Minnesota, and the US average, long before the tax cut, and longer than Scott Walker was ever elected.

Wisconsin has been, and still is, a business hostile State. Left-wing policies have made, and continue to make, Wisconsin noncompetitive to the rest of the country.

If that wasn't enough, the left-wingers have been against the logging and paper industry for decades, and Wisconsin's primary industry, is the paper industry, which between the digital age, and the growing paper imports from China, the paper industry in the US is staggering.

Paper Cuts: Wisconsin's paper industry battles the threat of digital, China as a paper power.

And lastly.... Trickle down is how the world works. The only reason there is even ONE JOB in Wisconsin is because of Trickle down.

Everything is trickle down. Everything. Not one single job would exist, without trickle down. It has always worked, and continues to work. And for you, or any other left-winger to even attempt to deny it, only signifies that you are completely and utterly unqualified to talk about the economy, and likely not mentally stable to enough to talk about any topic.

To see how foolish this stupidity is from the left, just consider the counter claim. Are you seriously suggesting that job growth would drastically increase if we just taxed the companies and people leaving Wisconsin at a higher rate? You really think that makes sense in left-tard land? How dumb can any human being be, and still breath, let alone type something this moronic into a forum?

If we just jack up taxes on companies and the public.... why jobs will just pop into existence from all the companies leaving.... yeah brilliant.

Wisconsin ranks among top states people are leaving

Just jack up those taxes dude. Everyone will turn right around "I love paying more taxes!", and head back to Wisconsin. Only the dumbest of left-wing-nuts would post this crap.

As you well know, people are leaving Wisconsin from the major cities, such as Milwaukee, run into ruin by Democrats for decades.

If only you could think, dupe....

All I needed to do was look at the chart you posted and that it didn't say what you claimed it said. I don't have to think you're an idiot and a liar, I know because I've thought about it.

Keep obsessing on one detail, dupe. And absolutely miss the point. Idiot.

The detail I state is the point. The point is your source didn't show what you claimed and you tried to add in things the source doesn't include.

The rich don't pay enough, the middle class and poor too much. What a gd idiot...

Specifically, how is that possible since the lowest 47% of workers pay no income tax?

Means nothing, dupe.

 

[francoHFW]

That 10% should go to tax cuts for the nonrich.
Why do Eurocars have to have their suspensions tweaked for our crap roads? They have many fewer poor and living wage, cheap University, great vacations, and training. WTF are you talking about?

LOL --- selecting diffuse 'facts' (very much in question) to support a fallacious argument.

Eurocars, in general, have to have their suspensions "tweaked" in order to meet our more stringent safety standards. The same applies for glass, lights etc. It has nothing to do with our roads. I bought my first Jaguar while assigned to USAFE in Belgium --- great deal UNTIL I picked up the tab for making it roadworthy in the US.

To argue that they have "many fewer poor" is disingenuous. Your 'argument' is fallacious. You should be comparing standard of living. Our poor make more than the 'average' European income.

The same applies for your nonsensical comment about universities - compare them not to each other but to the average income for that country. You'll come away with a completely different observation.

As for vacations, benefits, etc ---- what the hell do you think is happening in Europe today? Pensions, 30 hour work weeks, socialized medicine are driving EVERY country toward bankruptcy. Some will take longer to get there, but they are all headed down the same road.

Boooshies drove them to bankruptcy, dupe. Duh. They don't have poor like ours. We're a gd oligarchy.

Are you fucking kidding me?

I apologize ...

I thought you were somebody who hadn't dipped into an alternate reality. Our poor are the worst? Seriously? LOL

DEFINITELY worse off than in France, Germani, Holland Switz, Scandinavia, OZ, NZ, Canada. DUHHHHH Dupes...
None And get 6 week vacations, free day care, free health care etc etc DUHHHHHHH.

i LOVE the word "free" ---- who pays for those "free" things?

Single pay health care. Tax payers. Here, free birth control is cheaper than no BC. And free HC is cheaper than our stupid system.

 

[francoHFW]

That's what those in business do. They tell others they're paying to do things what to do. Don't like it, start your own business.

Part of what I do is in construction. I do it in addition to my full time job. I flip houses. While my full time work schedule prevents me from doing more of what you call menial labor, when I get a chance I do much of the work myself. That way when I sell what I've flipped, I make more.

Weekends free? It's easy to tell you're a worker. Can't remember the last time I didn't do something on a weekend. The only thing socialists have done related to that is take more of what I've earned to give to some worthless freeloader that thinks it's owed to him.

You got that right. I haven't been on a vacation in over 35 years. I have too much work to do around here at the apartments to consider going to Florida or Hawaii; probably never will either. I use all my vacation time from work to stay home and catch up on various projects.

That's a shame. There is so much to see and have your breath taken away.

A cliche, but true, I've never heard anyone on their deathbed say they wished they had taken fewer vacations and worked more hours.

A right to at least 4 weeks of paid vacation also makes the Euros better citizens of the world. They all much prefer that to more money...

 

[francoHFW]

Republicans want to destroy this country and suck the dick of the people that are offshoring all of our jobs.

Oh brother. You people. You listen to some idiot, that knows almost nothing, and mindlessly repeat it.

Ok, so let's actually look at reality. Why does Wisconsin suck? Because of tax cuts? You moron. You mindless ape.

Wisconsin

Wisconsin's 2016 Business Tax Climate Index Ranks 43rd
Wisconsin ranks 43rd on the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes (32nd), individual income taxes (43rd), sales taxes (13th), unemployment insurance taxes (36th), and taxes on property (33rd), including residential and commercial property.

43rd.

Meaning, out of 50 states, there are only 7 states that are worse for business.

This includes corporate taxes, 7.9%, Sales tax 5%, and property tax that averages $1800 per person.

Wisconsin's individual income tax system consists of 4 brackets with a top rate of 7.65%. The top rate ranks 9th highest among states levying an individual income tax. Wisconsin's state and local tax collections per person were $1,258 in 2013, which ranked 13th highest nationally.

Wisconsin's individual income tax system consists of 4 brackets with a top rate of 7.65%. The top rate ranks 9th highest among states levying an individual income tax. Wisconsin's state and local tax collections per person were $1,258 in 2013, which ranked 13th highest nationally.
​

Over all tax collection was 13th highest in the Union.

And as for this ignorant mental case you posted.... here's the facts....

View attachment 85474

Wisconsin's economic situation was worse than Minnesota, and the US average, long before the tax cut, and longer than Scott Walker was ever elected.

Wisconsin has been, and still is, a business hostile State. Left-wing policies have made, and continue to make, Wisconsin noncompetitive to the rest of the country.

If that wasn't enough, the left-wingers have been against the logging and paper industry for decades, and Wisconsin's primary industry, is the paper industry, which between the digital age, and the growing paper imports from China, the paper industry in the US is staggering.

Paper Cuts: Wisconsin's paper industry battles the threat of digital, China as a paper power.

And lastly.... Trickle down is how the world works. The only reason there is even ONE JOB in Wisconsin is because of Trickle down.

Everything is trickle down. Everything. Not one single job would exist, without trickle down. It has always worked, and continues to work. And for you, or any other left-winger to even attempt to deny it, only signifies that you are completely and utterly unqualified to talk about the economy, and likely not mentally stable to enough to talk about any topic.

To see how foolish this stupidity is from the left, just consider the counter claim. Are you seriously suggesting that job growth would drastically increase if we just taxed the companies and people leaving Wisconsin at a higher rate? You really think that makes sense in left-tard land? How dumb can any human being be, and still breath, let alone type something this moronic into a forum?

If we just jack up taxes on companies and the public.... why jobs will just pop into existence from all the companies leaving.... yeah brilliant.

Wisconsin ranks among top states people are leaving

Just jack up those taxes dude. Everyone will turn right around "I love paying more taxes!", and head back to Wisconsin. Only the dumbest of left-wing-nuts would post this crap.

As you well know, people are leaving Wisconsin from the major cities, such as Milwaukee, run into ruin by Democrats for decades.

If only you could think, dupe....

All I needed to do was look at the chart you posted and that it didn't say what you claimed it said. I don't have to think you're an idiot and a liar, I know because I've thought about it.

Keep obsessing on one detail, dupe. And absolutely miss the point. Idiot.

The detail I state is the point. The point is your source didn't show what you claimed and you tried to add in things the source doesn't include.

The rich don't pay enough, the middle class and poor too much. What a gd idiot...

Specifically, how is that possible since the lowest 47% of workers pay no income tax?

''As you well know, people are leaving Wisconsin from the major cities, such as Milwaukee, run into ruin by Democrats for decades."
There is white flight from the cities, but you'll find they go to the suburbs. Just typical US racism...And blacks have voted for Dems for years- they know racists are mainly GOP.

 

[Andylusion]

Corporate Taxes
Big corporations are making bigger and bigger profits, but they’re contributing less and less in taxes. That means they are doing less and less to help build roads and bridges, maintain our schools and fund the many other services government provides. Sixty years ago, 30 percent of total federal tax revenue was from corporations. Today […]

So let's run those numbers:

The top 10% of wage earners in this country pay over 70% in all collected income taxes.

Corporations pay 11% of all collected income taxes.

This means between the top 10% of wage earners and corporations, they are collectively paying over 81% of all federal income taxes collected. that means the rest of us have to come up with the other 19%. But they're not paying enough?????

Yep, that's socialism and the greed of socialists like Mertex.

Ironic she says the rich always want more, isn't it?

Another trickle down sucker, Kaz......bwahahaha.

I don't understand you people. What job exists without trickle down? Everything trickles down. How would anything trickle up? Have you ever gotten a stable job from an impoverished beggar?

 

[Andylusion]

How does that alter the fact the Obama has racked up $9 trillion in new debt?

Have you ever glanced at the components of that debt? You know...stuff that caused it?

It does not matter.

I don't care why the debt was created, it's still bad. If I spend more money than I make every single year, until I owe $100,000 when I earn $20,000 a year.... do you really think "how" I racked up that much debt is going to make a difference?

When Greece went bust, did "how" they racked up their debt mattered? NO!

So who cares? How does this change anything?

Not all debt is created equal

Going $20,000 in debt for a Vegas vacation is not the same as going $20,000 in debt to replace your roof
I have much more debt than I make in a year, it is a fiscally responsible decision

Well, when you lose your job, and have no money to pay your debts, and you end up in bankruptcy court, I'm sure you can tell the judge how your debts are 'fiscally responsible decisions', and then you will see how much of a difference "not all debts are created equal" really makes.

Now I'm not going to argue with you, about your personal finances, and whether or not your decisions were wise. You make your own choices.

But if you want to tell me that this debt, or that debt is magically 'good' or different... no you are crazy.

I've met people who lost literally everything. And right up to the week their lives fell apart, they had completely rationalized each and every debt. But when you lose your job, and the because you miss your car payments you lose your car, then you can't make it to the new job, so you lose that job, and then since you missed your 6th house payment, you end up foreclosed, and then your wife leaves you because your world is shattered.... and I actually know people who have had this happen.

You know what Warren Buffet says? Top thing Buffet said.... don't borrow money. Go read the stuff he has written about debt. Funny how the left praises Buffet on everything else, but then ignore his practical advice about how to be wealthy.

Ironically I just had this exactly conversation today with a immigrant from India. He bought a car, years ago when he first came here. He realize he had paid the car dealer almost $1,000 worth of interest. He worked over time to pay off the car. And from that point on, never borrowed another penny for anything.

He now has an $80,000 home, which he owns outright, and now he is saving up to purchase another home for $120,000, with cash too. He owns the car he has now, free and clear. And owes no one anything, and has money in the bank.

He told me people kept telling him to get a mortgage and buy the house now, and he would reply, he worked hard for his money. Why give it to the banks?

That's why he's wealthy, and other people are not. You people on the left keep complaining about the banks, but then turning around and giving all your money to the banks.

It cracks me up to hear idiots like Paul Krugman attack the banks bitterly, after he originally supported creating the property bubble in the early 2000s, and then spin right around and say we need to make credit easier to get. There are people in asylums that make more sense.

 

[francoHFW]

Corporate Taxes
Big corporations are making bigger and bigger profits, but they’re contributing less and less in taxes. That means they are doing less and less to help build roads and bridges, maintain our schools and fund the many other services government provides. Sixty years ago, 30 percent of total federal tax revenue was from corporations. Today […]

So let's run those numbers:

The top 10% of wage earners in this country pay over 70% in all collected income taxes.

Corporations pay 11% of all collected income taxes.

This means between the top 10% of wage earners and corporations, they are collectively paying over 81% of all federal income taxes collected. that means the rest of us have to come up with the other 19%. But they're not paying enough?????

Yep, that's socialism and the greed of socialists like Mertex.

Ironic she says the rich always want more, isn't it?

Another trickle down sucker, Kaz......bwahahaha.

I don't understand you people. What job exists without trickle down? Everything trickles down. How would anything trickle up? Have you ever gotten a stable job from an impoverished beggar?

You get jobs from DEMAND for product, which the middle class can't provide after 35 years of Reaganism. DUH.

 

[francoHFW]

How does that alter the fact the Obama has racked up $9 trillion in new debt?

Have you ever glanced at the components of that debt? You know...stuff that caused it?

It does not matter.

I don't care why the debt was created, it's still bad. If I spend more money than I make every single year, until I owe $100,000 when I earn $20,000 a year.... do you really think "how" I racked up that much debt is going to make a difference?

When Greece went bust, did "how" they racked up their debt mattered? NO!

So who cares? How does this change anything?

Not all debt is created equal

Going $20,000 in debt for a Vegas vacation is not the same as going $20,000 in debt to replace your roof
I have much more debt than I make in a year, it is a fiscally responsible decision

Well, when you lose your job, and have no money to pay your debts, and you end up in bankruptcy court, I'm sure you can tell the judge how your debts are 'fiscally responsible decisions', and then you will see how much of a difference "not all debts are created equal" really makes.

Now I'm not going to argue with you, about your personal finances, and whether or not your decisions were wise. You make your own choices.

But if you want to tell me that this debt, or that debt is magically 'good' or different... no you are crazy.

I've met people who lost literally everything. And right up to the week their lives fell apart, they had completely rationalized each and every debt. But when you lose your job, and the because you miss your car payments you lose your car, then you can't make it to the new job, so you lose that job, and then since you missed your 6th house payment, you end up foreclosed, and then your wife leaves you because your world is shattered.... and I actually know people who have had this happen.

You know what Warren Buffet says? Top thing Buffet said.... don't borrow money. Go read the stuff he has written about debt. Funny how the left praises Buffet on everything else, but then ignore his practical advice about how to be wealthy.

Ironically I just had this exactly conversation today with a immigrant from India. He bought a car, years ago when he first came here. He realize he had paid the car dealer almost $1,000 worth of interest. He worked over time to pay off the car. And from that point on, never borrowed another penny for anything.

He now has an $80,000 home, which he owns outright, and now he is saving up to purchase another home for $120,000, with cash too. He owns the car he has now, free and clear. And owes no one anything, and has money in the bank.

He told me people kept telling him to get a mortgage and buy the house now, and he would reply, he worked hard for his money. Why give it to the banks?

That's why he's wealthy, and other people are not. You people on the left keep complaining about the banks, but then turning around and giving all your money to the banks.

It cracks me up to hear idiots like Paul Krugman attack the banks bitterly, after he originally supported creating the property bubble in the early 2000s, and then spin right around and say we need to make credit easier to get. There are people in asylums that make more sense.

The banks and countrywide etc that the BOOOSHIES let run wild. A lot of people liked it before the assets turned out to be toxic. Great job, GOP!

The whole middle class has gone to hell under Reaganism. See sig- 2007.Paragraph one.

 

[francoHFW]

How does that alter the fact the Obama has racked up $9 trillion in new debt?

Have you ever glanced at the components of that debt? You know...stuff that caused it?

It does not matter.

I don't care why the debt was created, it's still bad. If I spend more money than I make every single year, until I owe $100,000 when I earn $20,000 a year.... do you really think "how" I racked up that much debt is going to make a difference?

When Greece went bust, did "how" they racked up their debt mattered? NO!

So who cares? How does this change anything?

Not all debt is created equal

Going $20,000 in debt for a Vegas vacation is not the same as going $20,000 in debt to replace your roof
I have much more debt than I make in a year, it is a fiscally responsible decision

Well, when you lose your job, and have no money to pay your debts, and you end up in bankruptcy court, I'm sure you can tell the judge how your debts are 'fiscally responsible decisions', and then you will see how much of a difference "not all debts are created equal" really makes.

Now I'm not going to argue with you, about your personal finances, and whether or not your decisions were wise. You make your own choices.

But if you want to tell me that this debt, or that debt is magically 'good' or different... no you are crazy.

I've met people who lost literally everything. And right up to the week their lives fell apart, they had completely rationalized each and every debt. But when you lose your job, and the because you miss your car payments you lose your car, then you can't make it to the new job, so you lose that job, and then since you missed your 6th house payment, you end up foreclosed, and then your wife leaves you because your world is shattered.... and I actually know people who have had this happen.

You know what Warren Buffet says? Top thing Buffet said.... don't borrow money. Go read the stuff he has written about debt. Funny how the left praises Buffet on everything else, but then ignore his practical advice about how to be wealthy.

Ironically I just had this exactly conversation today with a immigrant from India. He bought a car, years ago when he first came here. He realize he had paid the car dealer almost $1,000 worth of interest. He worked over time to pay off the car. And from that point on, never borrowed another penny for anything.

He now has an $80,000 home, which he owns outright, and now he is saving up to purchase another home for $120,000, with cash too. He owns the car he has now, free and clear. And owes no one anything, and has money in the bank.

He told me people kept telling him to get a mortgage and buy the house now, and he would reply, he worked hard for his money. Why give it to the banks?

That's why he's wealthy, and other people are not. You people on the left keep complaining about the banks, but then turning around and giving all your money to the banks.

It cracks me up to hear idiots like Paul Krugman attack the banks bitterly, after he originally supported creating the property bubble in the early 2000s, and then spin right around and say we need to make credit easier to get. There are people in asylums that make more sense.

Liberals give money to the banks? lol. WTH? The whole middle class now lives by credit. Thanks GOP!

The Demise of the American Middle Class In Numbers.

Over the past 35 years the American dream has gradually disappeared. The process was slow, so most people didn’t notice. They just worked a few more hours, borrowed a little more and cut back on non-essentials. But looking at the numbers and comparing them over long time periods, it is obvious that things have changed drastically. Here are the details:

1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.

Over the past 63 years worker productivity has grown by 2.0% per year.

But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):

1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%

A 13% drop since 1980

2. THE TOP 10% GET A LARGER SHARE.

Share of National Income going to Top 10%:

1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%

An increase of 16% since Reagan.

3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.

The savings Rose up to Reagan and fell during and after.

1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)

A 12.3% drop after Reagan.

4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.

Household Debt as percentage of GDP:

1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%

A 45% increase after 1980.

5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.

Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:

1980 = 10%
2003 = 56%

A 5.6 times increase.

6. AND THE AMERICAN DREAM IS GONE.

The Probably of Moving Up from the Bottom 40% to the Top 40%:

1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%

A 10% Decrease.

Links:

1 = ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt
1 = https://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
1 = Clipboard01.jpg (image)
2 – Congratulations to Emmanuel Saez
3 = http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 = http://www.bea.gov/national/nipaweb...able=58&Freq=Qtr&FirstYear=2008&LastYear=2010
4 = http://www.prudentbear.com/index.php/household-sector-debt-of-gdp
4 = http://www.federalreserve.gov/releases/z1/current/
5/6 = http://www.businessinsider.com/15-c...lity-in-america-2010-4?slop=1#slideshow-start

Overview = http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts