Why We Must Raise Taxes On The Rich:

[JWBooth]

Rich hell, take everything over $40k per head. That will fix everything.













for about 15 minutes

 

[Charles_Main]

Robert Reich's academically competent advice led to the economic success of the Clinton Administration and now he's telling us how to best deal with our debt problem.

Complete...Utter....Total...Bullshit.

During the '92 presidential campaign and after, Perot pointed out numerous times that, given the 3-ish% growth rate and revenue taken by the feds under the current taxing and spending structure, the budget was going to balance all by itself in 2002.

Buuba didn't do that...Reich didn't do that....The republican congress didn't do that.

Exactly, the only thing sure to balance a budget did it. ECONOMIC EXPANSION, and you do not get expansion by spending Federal dollars. You get it by giving the Private sector an environment that Encourages growth. Something we will never have under this administration.

 

[Charles_Main]

I didn't inflate and crash a credit/housing bubble either.
Did you?

Yes you did. You voted in the scumbags responsible. The rest of your screed is equally fallacious and absurd. It's the same old liberal pap we've been listening to for 100 years. the rich aren't the reason your a pathetic miserable failure. Only you are responsible for that.

Is that a recent picture of you in your avatar?

Since I haven't voted for a Republican OR a Democrat in decades, I have less responsibility for the Great Recession than I have for lowering the tax rates on capital gains income that has given the rich a virtual free ride in this country lately.

Do you think 15% is too much for the rich to pay?

The rich pay far more than 15% on their income.

So are you asking if 15% is enough On capital Gains? Hell yes. Capital gains taxes are a tax on top of a tax. People earn money, pay taxes on it, then invest it, and have to pay more taxes of the profits on the investment.

I am sure you under stand this country runs on the availability of Credit. Restricting investment by raising the capital gains tax, restricts peoples ability to borrow money and get investment.

 

[georgephillip]

What of those in the top 1% whose total earnings are taxed as capital gains?

"But Friday also brought new numbers on annual 'top 25' hedge fund manager compensation from AR magazine, the hedge fund industry’s trade journal.

"The hedge fund earnings needed in 2010 to make this exalted top 25: $210 million, well over double the four-score millions that went to Viacom’s Dauman...

"Hedge fund managers, without regulators looking over their shoulders, can invest the dollars they grab from investors anyway they choose.

'Actually, 'bet' might be a better word choice here.

"Hedge funds have zilch interest in making investments that create real economic value.

"Their goal instead: Find and exploit marketplace 'inefficiencies' that offer the potential for quick — and enormous — killings."

Headstart or hedge funds?America's Billion-Dollar-a-Year Men

 

[Cecilie1200]

everyone bitches about potholes screwing up their cars , get worried about rotted trusses under bridges ,
but pay to fix them ? oh thats expensive .

Oh, yeah, THAT'S why people complain about paying taxes: they object to paying for necessary infrastructure. It has NOTHING to do with the billions of dollars spent on ridiculous boondoggles. It's because we don't want to pay to fix potholes.

 

[Ava]

"Some suggest "tax the rich to make up the deficit". As of the end of 2010, the total worth of all American billionaires is $1.3 Trillion. We could take ALL their worth, not just high taxes, but ALL their WORTH; and it wouldn't dent our national debt. It wouldn't even pay this year deficit! And if we did take their money to pay some of this year's deficit, what would we we do next year?"

Federal Budget Spending and the National Debt

 

[Mr. Shaman]

....Just like the LAST time.....

THAT IT WORKED!!!!!!​

We already covered that ground and debunked the myth, Crayon Boy.

You debunked ZIP!!!

(Pretty-much the same reason you fucked-up, this time, as well.)

Ya' got nothin'.​

 

[Spoonman]

Why We Must Raise Taxes on the Rich
Wednesday 6 April 2011
by: Robert Reich, Robert Reich's Blog

It’s tax time. It’s also a time when right-wing Republicans are setting the agenda for massive spending cuts that will hurt most Americans.

Here’s the truth: The only way America can reduce the long-term budget deficit, maintain vital services, protect Social Security and Medicare, invest more in education and infrastructure, and not raise taxes on the working middle class is by raising taxes on the super rich.

Even if we got rid of corporate welfare subsidies for big oil, big agriculture, and big Pharma – even if we cut back on our bloated defense budget – it wouldn’t be nearly enough.

Read the whole article before disputing what Reich is saying:
Why We Must Raise Taxes on the Rich | Truthout

Maybe we should just stop sending so much frigging money and cut everyones taxes $608 million on Libya so far could have helped a lot

 

[Mr. Shaman]

Here's another one that's perfect for every response: Fuck you.

Now, name just one federal program (remember, Reich is claiming that socialized medicine will make it cheaper) that has come in under projected costs....Just one.

In fact, Medicare costs in excess of ten times (counting for inflation) what it was projected to cost, when that abortion of a program was put into effect.

.....And, you folks NEVER THANKED LIL' DUMBYA for it??!!!



August 27, 2009

....the 2003 Senate vote on Medicare Part D, the budget-busting prescription drugs for seniors bill that passed the Senate 54-44, even though it wasn't paid for (it adds trillion$ to the deficit over time)."

I was against about 95% of Shrubbie's spending and expansion of bureaucracy in general, and that stupid prescription drug scam in particular, numbnutz.

Try again.

....And, I'm sure you can find the post where you first said that (pre-2009), right??

 

[Spoonman]

"Some suggest "tax the rich to make up the deficit". As of the end of 2010, the total worth of all American billionaires is $1.3 Trillion. We could take ALL their worth, not just high taxes, but ALL their WORTH; and it wouldn't dent our national debt. It wouldn't even pay this year deficit! And if we did take their money to pay some of this year's deficit, what would we we do next year?"

Federal Budget Spending and the National Debt

True, but it would sure lock up the working class vote for Obama in 2012

 

[sinister59]

what we need to do is stop giving tax breaks for business to take their jobs over seas , tariffs on all imports especially those that are owned by American business .
a fare playing field , but neither party's will do this .

 

[Spoonman]

what we need to do is stop giving tax breaks for business to take their jobs over seas , tariffs on all imports especially those that are owned by American business .
a fare playing field , but neither party's will do this .

100% agree

 

[Mr. Shaman]

everyone bitches about potholes screwing up their cars , get worried about rotted trusses under bridges ,
but pay to fix them ? oh thats expensive .

Wait'll some 1%er/high-roller gets snuffed.

Then (all-of-a-sudden), it'll become a....

NATIONAL EMERGENCY!!

[ame=http://www.youtube.com/watch?v=zBSPcIGGcIc]YouTube - The Crumbling of America[/ame]​

 

[Mr. Shaman]

Bubba's/Reich's taxing policies aren't what set the course for the budget to project out to balance in 2002, you fool....The existing taxing and spending structure was bringing that about as a matter of course, only to have the debt continue to explode after '02.

Reading for comprehension will really improve your communication skills.

Who or what "set the course for the budget to project out to balance in 2002, you fool?"

The Gipper's Ghost?

Learning to read English will greatly enhance the quality of your "thinking."

btw, did that debt explosion after 2002 have anything to do with cutting taxes on the rich?

That it was on course to balance during the 1992 campaign, waaaaaay before Bubba took office, it's safe to say that neither he nor Reich had much of anything to do with the fact, other than to stand around and take credit for the inevitability.

Keep swingin' away there, slugger.

You're quite the tap-dancer.....even when you're chin-deep in bullshit!!​

"These documents I received were essentially transcripts of personal notes made by a Democratic congressman who was very friendly with Bill Clinton and had conversations with him during the first several months of his first term in 1993. This congressman had attended a luncheon for congressional Democrats with the President and the President had mentioned that he, Bill Clinton, was aware that the economic numbers that the Reagan-Bush Regime had put out were all wrong, particularly when it came to the size of the annual budget deficits and the accumulated national debt.

In fact Clinton admitted that he had no idea of the size of the fraud and malfeasance committed against the American people during the previous 12 years of the Bushonian Cabal.

When Bush left the White House, the last debt numbers published by the Bush Regime was $5.66 trillion, when, in fact, the actual size of the debt was about $14 trillion. In other words, the national debt was about three times the stated numbers.

Clinton got very nervous because one of the things he had done very early in the regime was try to get his people to figure out how much the nation was in debt and what the actual size of the then current budget deficit was. Nobody in the Clinton Administration knew. They knew they were inheriting a federal budget deficit.

The Bush Administration had publicly stated that the federal budget deficit for fiscal 1992 was $360 billion. As it turned out, the fiscal budget deficit for 1992 going into calendar year 1993 was over $700 billion.

It must have been a shock. Clinton thought he was inheriting a $360 billion federal budget deficit when it was in fact twice as much. He thought he was inheriting a nation with a $5.6 trillion debt and it turns out to be a $14 trillion debt.

By April he had learned of the Grand Bushonian Fraud -- how the Bush Cabal denuded the Social Security General Trust Fund and 43 other public trust funds out of $5 trillion and then stuffed them full of worthless non-marketable US Treasury securities. This is the time when Clinton began to talk extensively with Alan Greenspan. He understood that something had to be done because we were virtually in a crisis.

Like most people in Washington, Clinton understood that Ronald Reagan was a figurehead and that it was really the Bush Cabal, which was running things for all of those 12 years. He also understood that the Bush Cabal had perpetrated the greatest fraud ever committed against the American people and that the Bush Cabal had essentially destroyed the economy of the United States - which in fact they had.

The CIA was sending its annual assessment report to the White House directly and not to anybody else. (Later in the 1980s Tommy Rheinhardt the CIA liaison officer to Congress lied extensively about this very same subject matter.)

The White House then would reproduce a whole new CIA report that showed the exact opposite of what was really happening, that the Soviet Union was gaining an economic and military strength at the same time it was falling apart. The Bushonian Cabal then used this as a justification to embark upon a policy of enormous defense buildup and the wasteful expenditure thereunto and the enormous amount of debt necessary to finance said defense buildup."

Bush Cabal Fraud​

 

[Claudette]

"Some suggest "tax the rich to make up the deficit". As of the end of 2010, the total worth of all American billionaires is $1.3 Trillion. We could take ALL their worth, not just high taxes, but ALL their WORTH; and it wouldn't dent our national debt. It wouldn't even pay this year deficit! And if we did take their money to pay some of this year's deficit, what would we we do next year?"

Federal Budget Spending and the National Debt

Yup. You could confiscate every dime from every "rich" person in this country and it wouldn't make a debt in whats owed.

The Govt is a fat bloated pig that needs to be sliced and diced. Way to many programs and way to many fat cat Govt employees. If half of them disappeared tomorrow who the hell would notice??

To many lobbyists all clawing for a peice of the taxpayer provided pie. (Thought Ol'BO was getting rid of lobbyists?? Thought not.)

All subsidies, tax breaks and tax loopholes should be voted out.

A balanced budged ammendment need to be implemented and observed by the Clowns in DC.

Oh yeah and that 40% who pay for nothing need to step up to the plate. Get some skin in the game and actually contribute something instead of sucking on that taxpayer teat for their entire lives.

 

[M14 Shooter]

It's not an 'article', it's a blog.

Thank you. Now read the whole blog before disputing what Reich is saying.

Simple enough:
The rich dont make enough money to balance the budget, even if you took 100% of their income.

 

[LibocalypseNow]

Yea and then we should arrest them and force them all into Gulags. Man,Lefty Winger Class Warfare stuff is just so damn tired & stale. Are people really buying it? I guess we'll see in 2012?

 

[MikeK]

There's some Phukhole here in Denver on the Radio by the name of David Sirota...

This Bitchlips Claims on a Regular that Rich People and Evil Coporations don't even Pay Taxes...

So Fuck you and Fuck him too.

1) Exxon Mobil – made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.

2) Bank of America — received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.

3) General Electric — Over the past five years, GE made $26 billion in profits in the United States but still received a $4.1 billion refund from the IRS.

4) Chevron — received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.

5) Boeing — received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.

6) Valero Energy — the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, has received a $134 million tax break from the oil and gas manufacturing tax deduction.

7) Goldman Sachs — in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion bailout from the Federal Reserve and U.S. Treasury Department.

8) Citigroup — last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.

9) ConocoPhillips — the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.

10) Carnival Cruise Lines — Over the past five years, it made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.

Worst corporate income tax avoiders | GetListy!!!


The foregoing is just a thumbnail example of what is going on that most Americans, obviously including you, have no awareness of. If you had some awareness of how we all, including you, are being screwed by the super-rich your position would change radically -- unless you are too effectively indoctrinated to be capable of reason.

 

[M14 Shooter]

There's some Phukhole here in Denver on the Radio by the name of David Sirota...

This Bitchlips Claims on a Regular that Rich People and Evil Coporations don't even Pay Taxes...

So Fuck you and Fuck him too.

1) Exxon Mobil – made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.

2) Bank of America — received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.

3) General Electric — Over the past five years, GE made $26 billion in profits in the United States but still received a $4.1 billion refund from the IRS.

4) Chevron — received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.

5) Boeing — received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.

6) Valero Energy — the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, has received a $134 million tax break from the oil and gas manufacturing tax deduction.

7) Goldman Sachs — in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion bailout from the Federal Reserve and U.S. Treasury Department.

8) Citigroup — last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.

9) ConocoPhillips — the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.

10) Carnival Cruise Lines — Over the past five years, it made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.

These are corporations, not people.
What do they have to do with raising taxes on the rich?

 

[LibocalypseNow]

Americans fighting against Americans. Class Warfare at its worst. And that's just the way all "Community Organizers" want it. Vote for real change in 2012! Boot the moronic Community Organizers. Make it happen America!