Watchhttp://ieet.org/index.php/IEET/more/eskow20121014
As for that “Simpson Bowles” so-called “deficit reduction” plan: It’s a hoax, another ploy to give the ultra-rich yet another huge tax cut - unless you believe that the lobbying fairy will magically grant a wish that’s never been granted before: an end to billionaires’ loopholes. If you buy that - which I don’t - then the plan’s just grossly unfair. The real moment of truth Washington won’t face is this one: It’s time to admit that we can’t rebuild our economy - or balance the Federal budget - without raising taxes on the very wealthy. That’s what Simpson, Bowles,...
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It is not the governments money to give back. Just because people have done well does not mean anyone has the right to take it from them. It is simply the policy of jealousy.
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Sadly, jealousy is part of human nature, as is reciprocity. We have the humans we have, not the humans Ayn Rand would like us to have.
In any tribe, the better off members are responsible for sharing with everybody else. Today's upper crust use alienation and segregation to try to create Cloud Palaces or guarded subdivisions where they can siphon off wealth from the 90% without feeling any obligation towards them.
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The plutocrats have managed to massage the system to pretend that there are different types of income, earned and unearned and that their unearned income is better and should not be susceptible to the same taxation as earned income. Those same plutocrats (top 10%) own 73% of net wealth and 83% of financial wealth. They didn't get to those numbers of ownership by being overly burdened with taxes.
And, our actual so to speak "national tax rate" is right at 17% of GDP and will increase to around 20%.
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San Jose, CA
What? Where is my reward for my investment? You slaves have the nerve to increase my tax? OK, I will just jerk up the price of your food, housing and oil. Who is laughing now? Oh, I will move my account to overseas, so you can't touch my profit. What's mine is mine. Not yours or US Government.
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“Anyone who comes aboard gets savaged by the realtors, the AARP, and Grover Norquist,” said Simpson, a former senator from Wyoming.
There is something for everyone not to like in Simpson Bowles -- they must be doing something right.
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If that's how you justify or rationalize for your own comfort, great. But we both know that the plutocrats paid heavily to the politicians to get that classification also. "Qualified" dividends that are exempt to SS and MC taxes not to mention the cap. But they're still eligible for Medicare and use it too.
Along the same lines I find it hilarious when Obama says he wants to raise the tax rates on the super-rich to the ols rates, but also doesn't reveal that the income that would be exposed to that payroll income tax is less than 1%, which is ironic.
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There's 2 people that wish you were as smart as you think you are, and I'm the other, besides you.
You've made the claim, now prove it.
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Barlowe says
Wrong. Capital doesn't create jobs. As we are witnessing today. There is all kinds of capital sloshing around right now with nowhere to go--but yet very few jobs are being created. And you probably have no idea why that is... Because you are blinded by your dogma.
Barlowe says
Supply and demand is the answer, but not in the way you think. The problem is that all the money is in the hands of the 1% and 99% of the population can't afford to buy anything. Therefore, there is very little demand for goods, and there is no need for companies to expand and hire more people.