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The incessant "too many regulations" comes out time after time. Imagine what our air would look like and our water quality would be without regulation. Answer? If left to the corporations to police themselves the air would be unbeatable and the water totally polluted... but that would be fine as long as profit is created.
Neither one was deregulated. The opposite.
Year Super Rich Tax Rate
1917 67%
1925 25%
1932 63%
1936 79%
1941 81%
1942 88%
1944 94%
1946 91%
1964 77%
1965 70%
1981 70%
1982 50%
1987 38.50%
1988 28%
1991 31%
1993 39.60%
2003 35%
2011 35%
2013 39.60%
Excellent! Glad I could help you correct your error.
It's the tax rate, NOT what was actually paid.
walmarts 2012 total income ÷ taxes was 1.7%.
if you divide income by taxes paid, you get a number greater than 1.
You're hilarious!
What was their income, genius?
8b ÷ 447b = 1.7%
if you divide income by taxes paid, you get a number greater than 1.
You're hilarious!
What was their income, genius?
8b ÷ 447b = 1.7%
Wow, you think their income was 447b?
How basic was the business class you flunked out of at that community college?
Neither one was deregulated. The opposite.Wall Street
Coal
Banks used cheap capital to create a bubble. Their lending strategies fueled and fed off the housing bubble, and they did so using mortgage products whose performance was premised on continued growth of that bubble.
After 2004, the financial industry coalesced around high
-risk mortgage lending as their primary cash crop. Subprime mortgages, which had been an effective if sometimes shady means of extending credit availability to under-served borrowers, suddenly became a foundation of 21st century financial capitalism. The complete collapse of the financial system and resulting recession have shown the folly of that strategy. What has saved the financial sector is the government takeover of the GSEs and the bailout of the rest of the banking system
Regulators and policymakers enabled this process at virtually every turn. Part of the reason they failed to understand the housing bubble was willful ignorance: they bought into the argument that the market would equilibrate itself. In particular, financial actors and regulatory officials both believed that secondary and tertiary markets could effectively control risk through pricing.
http://www.tobinproject.org/sites/tobinproject.org/files/assets/Fligstein_Catalyst of Disaster_0.pdf
Conservative Ideas Can't Escape Blame for the Financial Crisis
The onset of the recent financial crisis in late 2007 created an intellectual crisis for conservatives, who had been touting for decades the benefits of a hands-off approach to financial market regulation. As the crisis quickly spiraled out of control, it quickly became apparent that the massive credit bubble of the mid-2000s, followed by the inevitable bust that culminated with the financial markets freeze in the fall of 2008, occurred predominantly among those parts of the financial system that were least regulated, or where regulations existed but were largely unenforced.
Predictably, many conservatives sought to blame the bogeymen they always blamed
Politics Most Blatant | Center for American Progress
Excellent! Glad I could help you correct your error.
It's the tax rate, NOT what was actually paid.
Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory
The conclusion?
Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nations economic growth.
This paragraph from the report says it all
The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.
These three sentences do nothing less than blow apart the central tenet of modern conservative economic theory, confirming that lowering tax rates on the wealthy does nothing to grow the economy while doing a great deal to concentrate more wealth in the pockets of those at the very top of the income chain.
Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study - Forbes
As measured by IRS data, the share of income accruing to the top 0.1% of U.S. families increased from 4.2% in 1945 to 12.3% by 2007 before falling to 9.2% due to the 2007-2009 recession. At the same time, the average tax rate paid by the top 0.1% fell from over 50% in 1945 to about 25% in 2009.
Congressional Research Service Report On Tax Cuts For Wealthy Suppressed By GOP (UPDATE)
8b ÷ 447b = 1.7%
Wow, you think their income was 447b?
How basic was the business class you flunked out of at that community college?
Mister Masters in Business from Columbia confused income with revenue. LULZ!
Yeah center for american retards is a fail right off.
Thanks for pointing out that there was no deregulation. The regulation failed. More regulation will fail more.
Neither one was deregulated. The opposite.
Banks used cheap capital to create a bubble. Their lending strategies fueled and fed off the housing bubble, and they did so using mortgage products whose performance was premised on continued growth of that bubble.
After 2004, the financial industry coalesced around high
-risk mortgage lending as their primary cash crop. Subprime mortgages, which had been an effective if sometimes shady means of extending credit availability to under-served borrowers, suddenly became a foundation of 21st century financial capitalism. The complete collapse of the financial system and resulting recession have shown the folly of that strategy. What has saved the financial sector is the government takeover of the GSEs and the bailout of the rest of the banking system
Regulators and policymakers enabled this process at virtually every turn. Part of the reason they failed to understand the housing bubble was willful ignorance: they bought into the argument that the market would equilibrate itself. In particular, financial actors and regulatory officials both believed that secondary and tertiary markets could effectively control risk through pricing.
http://www.tobinproject.org/sites/tobinproject.org/files/assets/Fligstein_Catalyst of Disaster_0.pdf
Conservative Ideas Can't Escape Blame for the Financial Crisis
The onset of the recent financial crisis in late 2007 created an intellectual crisis for conservatives, who had been touting for decades the benefits of a hands-off approach to financial market regulation. As the crisis quickly spiraled out of control, it quickly became apparent that the massive credit bubble of the mid-2000s, followed by the inevitable bust that culminated with the financial markets freeze in the fall of 2008, occurred predominantly among those parts of the financial system that were least regulated, or where regulations existed but were largely unenforced.
Predictably, many conservatives sought to blame the bogeymen they always blamed
Politics Most Blatant | Center for American Progress
Yeah center for american retards is a fail right off.
Thanks for pointing out that there was no deregulation. The regulation failed. More regulation will fail more.
It's the tax rate, NOT what was actually paid.
Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory
The conclusion?
Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nations economic growth.
This paragraph from the report says it all
The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.
These three sentences do nothing less than blow apart the central tenet of modern conservative economic theory, confirming that lowering tax rates on the wealthy does nothing to grow the economy while doing a great deal to concentrate more wealth in the pockets of those at the very top of the income chain.
Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study - Forbes
As measured by IRS data, the share of income accruing to the top 0.1% of U.S. families increased from 4.2% in 1945 to 12.3% by 2007 before falling to 9.2% due to the 2007-2009 recession. At the same time, the average tax rate paid by the top 0.1% fell from over 50% in 1945 to about 25% in 2009.
Congressional Research Service Report On Tax Cuts For Wealthy Suppressed By GOP (UPDATE)
Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nations economic growth.
Well raising the top tax rate has certainly helped Obama grow our economy.
Real gross domestic product (GDP) fell 2.9 percent at an annual rate in the first quarter of 2014, according to the third estimate from the Bureau of Economic Analysis.
Third Estimate of GDP for the First Quarter of 2014 | The White House
Oops.
Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory
The conclusion?
Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nations economic growth.
This paragraph from the report says it all
The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.
These three sentences do nothing less than blow apart the central tenet of modern conservative economic theory, confirming that lowering tax rates on the wealthy does nothing to grow the economy while doing a great deal to concentrate more wealth in the pockets of those at the very top of the income chain.
Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study - Forbes
As measured by IRS data, the share of income accruing to the top 0.1% of U.S. families increased from 4.2% in 1945 to 12.3% by 2007 before falling to 9.2% due to the 2007-2009 recession. At the same time, the average tax rate paid by the top 0.1% fell from over 50% in 1945 to about 25% in 2009.
Congressional Research Service Report On Tax Cuts For Wealthy Suppressed By GOP (UPDATE)
Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nations economic growth.
Well raising the top tax rate has certainly helped Obama grow our economy.
Real gross domestic product (GDP) fell 2.9 percent at an annual rate in the first quarter of 2014, according to the third estimate from the Bureau of Economic Analysis.
Third Estimate of GDP for the First Quarter of 2014 | The White House
Oops.
Got it, zero critical thinking abilities. Yeah, one quarter shows that right? Weird, Reagan had 50% top rate for 6 years, what do the GOPers/conservatives say about him again?
Banks used cheap capital to create a bubble. Their lending strategies fueled and fed off the housing bubble, and they did so using mortgage products whose performance was premised on continued growth of that bubble.
After 2004, the financial industry coalesced around high
-risk mortgage lending as their primary cash crop. Subprime mortgages, which had been an effective if sometimes shady means of extending credit availability to under-served borrowers, suddenly became a foundation of 21st century financial capitalism. The complete collapse of the financial system and resulting recession have shown the folly of that strategy. What has saved the financial sector is the government takeover of the GSEs and the bailout of the rest of the banking system
Regulators and policymakers enabled this process at virtually every turn. Part of the reason they failed to understand the housing bubble was willful ignorance: they bought into the argument that the market would equilibrate itself. In particular, financial actors and regulatory officials both believed that secondary and tertiary markets could effectively control risk through pricing.
http://www.tobinproject.org/sites/tobinproject.org/files/assets/Fligstein_Catalyst of Disaster_0.pdf
Conservative Ideas Can't Escape Blame for the Financial Crisis
The onset of the recent financial crisis in late 2007 created an intellectual crisis for conservatives, who had been touting for decades the benefits of a hands-off approach to financial market regulation. As the crisis quickly spiraled out of control, it quickly became apparent that the massive credit bubble of the mid-2000s, followed by the inevitable bust that culminated with the financial markets freeze in the fall of 2008, occurred predominantly among those parts of the financial system that were least regulated, or where regulations existed but were largely unenforced.
Predictably, many conservatives sought to blame the bogeymen they always blamed
Politics Most Blatant | Center for American Progress
Yeah center for american retards is a fail right off.
Thanks for pointing out that there was no deregulation. The regulation failed. More regulation will fail more.
Yeah a WORLD WIDE CREDIT BUBBLE was because of too much regulation *shaking head*
The incessant "too many regulations" comes out time after time. Imagine what our air would look like and our water quality would be without regulation. Answer? If left to the corporations to police themselves the air would be unbeatable and the water totally polluted... but that would be fine as long as profit is created.
Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory
The conclusion?
Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nations economic growth.
This paragraph from the report says it all
The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.
These three sentences do nothing less than blow apart the central tenet of modern conservative economic theory, confirming that lowering tax rates on the wealthy does nothing to grow the economy while doing a great deal to concentrate more wealth in the pockets of those at the very top of the income chain.
Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study - Forbes
As measured by IRS data, the share of income accruing to the top 0.1% of U.S. families increased from 4.2% in 1945 to 12.3% by 2007 before falling to 9.2% due to the 2007-2009 recession. At the same time, the average tax rate paid by the top 0.1% fell from over 50% in 1945 to about 25% in 2009.
Congressional Research Service Report On Tax Cuts For Wealthy Suppressed By GOP (UPDATE)
Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nations economic growth.
Well raising the top tax rate has certainly helped Obama grow our economy.
Real gross domestic product (GDP) fell 2.9 percent at an annual rate in the first quarter of 2014, according to the third estimate from the Bureau of Economic Analysis.
Third Estimate of GDP for the First Quarter of 2014 | The White House
Oops.
Got it, zero critical thinking abilities. Yeah, one quarter shows that right? Weird, Reagan had 50% top rate for 6 years, what do the GOPers/conservatives say about him again?
Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nations economic growth.
Well raising the top tax rate has certainly helped Obama grow our economy.
Real gross domestic product (GDP) fell 2.9 percent at an annual rate in the first quarter of 2014, according to the third estimate from the Bureau of Economic Analysis.
Third Estimate of GDP for the First Quarter of 2014 | The White House
Oops.
Got it, zero critical thinking abilities. Yeah, one quarter shows that right? Weird, Reagan had 50% top rate for 6 years, what do the GOPers/conservatives say about him again?
The problem is not tax rates, dingleberry. The problem is a government that spends more than it takes in. Balance the fricken budget, stop the deficit spending.
and for the record, raising the tax rate on the rich does not help the economy any more than cutting it.
Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nations economic growth.
Well raising the top tax rate has certainly helped Obama grow our economy.
Real gross domestic product (GDP) fell 2.9 percent at an annual rate in the first quarter of 2014, according to the third estimate from the Bureau of Economic Analysis.
Third Estimate of GDP for the First Quarter of 2014 | The White House
Oops.
Got it, zero critical thinking abilities. Yeah, one quarter shows that right? Weird, Reagan had 50% top rate for 6 years, what do the GOPers/conservatives say about him again?
Got it, zero critical thinking abilities.
Got it, but enough about you.
When does Obama's higher rate fix our economy?
What conservative policies are we living with today?
We're living with the deregulated nirvana that was supposed to free companies to expand and give regular folks wonderful jobs and lives. Remember? It's too bad they chose instead to de-industrialize this country and replace those jobs with Walmart checker opportunities.
Please point to any deregulation that happened in the last 25 years. There has been none. There has been the opposite in fact.
We are living in an over regulated dystopia designed by liberal Democrats and RINOs where gov't tells everyone what they can and cannot do. How has that been working out?
Yeah center for american retards is a fail right off.
Thanks for pointing out that there was no deregulation. The regulation failed. More regulation will fail more.
Yeah a WORLD WIDE CREDIT BUBBLE was because of too much regulation *shaking head*
We had a WORLD WIDE CREDIT BUBBLE because of imaginary deregulation?
Yeah a WORLD WIDE CREDIT BUBBLE was because of too much regulation *shaking head*
We had a WORLD WIDE CREDIT BUBBLE because of imaginary deregulation?
Nah, it was the Bankster choice to flood the world markets with cheap money, in the US it was just Bush ignoring regulator warnings that started in 2004 (20 years after Reagan ignored S&L warnings, weird), of an EPIDEMIC of fraud that could rival the S&L crisis, Bush gutted the FBI white collate division by over 1,800 agents, over 1/.3rd... HMM how'd that work out?
