RE: The Fallout from the Financial Crisis April 8, 2010

RE: The Fallout from the Financial Crisis April 8, 2010 (Full Version)

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RacerJim -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 9:21:31 AM)
quote: ORIGINAL: Silence8 quote: ORIGINAL: variation30 quote: ORIGINAL: Brain I really don't care if a president bows in order to be courteous and respectful but I would like a president and a political party that has the courage to increase taxes on the wealthy in order to balance the budget. am I getting trolled? why not this: don't spend more money than you have (i.e. cut spending). generic-response'd! blah-blah-blah, where-were-you-when-bush-was-spending-to-high-heaven, blah-blah-blah-blah-blah. blah. I don't know about any other Bush supporter but when he and Congress were spending to high-heaven I was complaining then too, and since Bush's approval rating was <35% when he left office t seems to me that lots of other Bush supporters besides me were also complaining. That said... Obama is outspending Bush by at least 3:1

Musicmystery -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 9:21:35 AM)
quote: Maryland and New York are currently seeing the result of having increased taxes on the wealthy within the past couple years...tax revenue from the wealthy has DECREASED due to more and more wealthy having moved to other States. In New York, if your income range is $20,001 and over, your tax rate on every dollar of income earned is 6.85%. That's it. That's the highest bracket now. New York IS collecting less revenue--that's because 20% of NY revenue comes from Wall St.---and guess what? Capital gains tax rates have gone done too. Listen to less radio. Check a few facts.

Jeffff -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 9:24:27 AM)
Ron , if you shout it loud enough and long enough, it is just as good as the truth. Better actually. It becomes "faith" and you can't argue with faith

thishereboi -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 9:25:50 AM)
quote: ORIGINAL: slvemike4u quote: ORIGINAL: variation30 quote: ORIGINAL: slvemike4u If they don't SPEND our money....what other use does OUR money have ? well I could SPEND more of MY money on things I want. But it isn't your money....if it is tax revenue and you have paid it....it stops being yours....That's sort of how it works....sheeesh,you would think people would know this stuff. By the way I saw in another thread that you are Canadian....so why are you railing against the American tax structure? Well the OP who started the thread was Canadian, so why not?

cadenas -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 9:30:50 AM)
You do realize that Warren Buffet (net worth $62 billion) recently complained that he pays only half as much in taxes as his secretary pays on her $60k salary? quote: ORIGINAL: servantforuse The IRS could take every penny from the top 10% of wage earners in this country and it wouldn't make a dent in this deficit. When you take every penny from the rich, then where do you go ??

RacerJim -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 9:36:35 AM)
quote: ORIGINAL: slvemike4u quote: ORIGINAL: tj444 There was an article recently that said nearly half of all Americans wont pay any Federal tax.... hmmmmm Doesnt that mean that almost half dont contribute to what they consume (federally)? And according to the article the "wealthy" already pay about 73% of all the Federal income tax collected now, today. "The result is a tax system that exempts almost half the country from paying for programs that benefit everyone, including national defense, public safety, infrastructure and education. It is a system in which the top 10 percent of earners -- households making an average of $366,400 in 2006 -- paid about 73 percent of the income taxes collected by the federal government." http://finance.yahoo.com/news/Nearly-half-of-US-households-apf-1105567323.html?x=0&.v=1 How many times does this tired old canard need to be shot down....no one that works(on the books) in America pays no taxes despite what your silly little article put forth.... I could shoot it down quite simply for you....but I grow weary of this shit.Do some research look up all of the different payroll taxes withheld...such as social security...unemployment etc etc....and than come back and explain how ,what was it,nearly half of Americans won't pay any Federal Tax.... I will shoot down your crap quite simply for you...just because working people have various taxes withheld from their paycheck in no way, shape, or form does that mean they don't get all those taxes back as refund and, therefore, effectively pay no taxes.

cadenas -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 9:48:38 AM)
There is no refund for Social Security taxes. If you make $20,000, your Social Security taxes amount to close to $3000 even when the income tax is only a couple bucks. quote: ORIGINAL: RacerJim I will shoot down your crap quite simply for you...just because working people have various taxes withheld from their paycheck in no way, shape, or form does that mean they don't get all those taxes back as refund and, therefore, effectively pay no taxes.

slvemike4u -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 9:52:03 AM)
Don't confuse RacerJim with facts...he is barely able to watch the cars go round and round the oval without getting dizzy [:)]

cadenas -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 9:59:36 AM)
Social programs? That wouldn't make a dent in the Federal budget. If you want to cut spending, you have to go to the military budgets. As for your data: basically, your argument is "we can't enforce tax laws against the rich, so let's tax the poor instead". I should also remind you that you can't avoid Federal taxes just by moving a couple miles to another state. You can't even avoid Federal taxes by moving a couple continents away. quote: ORIGINAL: RacerJim I would like a POTUS and Congress with the courage to cut spending on their pet social programs to balance the budget rather than simply increase taxes on the wealthy, the latter of which history proves has never worked. Maryland and New York are currently seeing the result of having increased taxes on the wealthy within the past couple years...tax revenue from the wealthy has DECREASED due to more and more wealthy having moved to other States.

thishereboi -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 10:00:27 AM)
quote: ORIGINAL: slvemike4u Don't confuse RacerJim with facts...he is barely able to watch the cars go round and round the oval without getting dizzy [:)] Well I don't know all the facts about the tax system. That's why I use turbotax. But I do know that I am getting much more money back on my federal return than I paid in, SS tax included. Something about an education credit? State on the other hand is sticking it to me, but I will still end up ahead, even after they get theirs. GoBama[:)]

Musicmystery -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 10:11:26 AM)
quote: But I do know that I am getting much more money back on my federal return than I paid in, SS tax included. Something about an education credit? The education credit explains this, not a refund of SS. You will, of course, presumably, collect on your SS investment later on. And the rest of us will benefit, presumably, from our investment in your education.

thishereboi -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 10:23:50 AM)
quote: ORIGINAL: Musicmystery quote: But I do know that I am getting much more money back on my federal return than I paid in, SS tax included. Something about an education credit? The education credit explains this, not a refund of SS. You will, of course, presumably, collect on your SS investment later on. And the rest of us will benefit, presumably, from our investment in your education. Yea I figured that was it and I was very happy to see money coming back. I thought I was going to have to pay this year.

pyroaquatic -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 12:02:59 PM)
quote: ORIGINAL: slvemike4u You want an argument....I will give you one. If they don't SPEND our money....what other use does OUR money have ? In other words what other purpose does money serve ? Currency exists to make the marketplace liquid and to overcome entropy (rotten apples cannot be traded for good corn). Of course now that we are in a state of HYPERCONNECTIVITY the internet could serve as a liquid bartering system.

slvemike4u -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 12:05:35 PM)
Good luck with that...

Musicmystery -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 12:07:32 PM)
Actually, he's right.

slvemike4u -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 12:16:21 PM)
Not about to replace money...with an internet based "liquid bartering system"...which is what I was wishing him luck with.If you think that is possible and that he is right.....take a shot at convincing me. I'm always willing to listen to an intelligent man make an intelligent argument...Though I make no promises on buying said argument [:)].No matter the method of transaction[:)].

Musicmystery -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 12:25:33 PM)
I'm not saying it's going to happen. But his point that everything is in place to allow such a system is correct.

slvemike4u -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 12:26:46 PM)
And I wished him luck with that....cause to tell you the truth...I just don't see it happening.[:D]

Musicmystery -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 12:28:18 PM)
He didn't say it was going to happen either.

slvemike4u -> RE: The Fallout from the Financial Crisis April 8, 2010 (4/14/2010 12:40:07 PM)
True....and I didn't accuse him of doing so...I just wished him luck with that,now perhaps I should have been more specific and wished the idea of it good luck.....perhaps If that was how I had responded we could have avoided these last few back and forths.[:)]

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