DomKen
Posts: 19457
Joined: 7/4/2004 From: Chicago, IL Status: offline
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ORIGINAL: DesideriScuri quote:
ORIGINAL: DomKen quote:
ORIGINAL: DesideriScuri Corporations don't put money back into the economy?!? How the fuck do you get that? Isn't the point of a corporation to actually, produce something of value? And, what you're not noticing, is that individual tax returns, as a %GDP, dropped, so individuals are keeping more of their money. Neat thing about the Bush Tax Cuts is that the % of Federal income tax revenues paid by "the rich," increased. The number of taxpayers not having a Federal tax burden increased, too. Odd, those damn tax cuts! Actually most corporation profit goes into the pockets of shareholders. Those shareholders are overwhelming the upper class who simply hold most of their money. It is far better to tax the corporate profits and the income of the upper class at a far higher rate. Bullshit. They invest or save that money. Savings go back into the economy as loans. You know this shit. Without any savings, what would we "fraction" in our fractional reserve banking system? Investments go back to a Corporation as "loans" for them to expand their business. There may be some wealthy people out there that utilize their mattresses as their "banks," but the rest are still having their money used by the economy. Wrong and you know its wrong. The rich don't put sizeable amounts of money in bank accounts. The money goes into the stock market and just spins around in arbitrage benefiting no one but the other wealthy. quote:
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As to the share of taxes paid by the undefined rich, is it not more correct to say that since they hold ever greater percentages of the wealth in this nation it is obvious that they will pay more taxes? Would not a sane tax scheme seek to make sure all the money does not wind up in the hands of an ever shrinking few? Consider the period when the middle class actually came into its own in this nation, 1946 to 1960. 2 things are clear about government fiscal policy, taxes were very high at the highest tax brackets and the middle class got much of those tax receipts, in the form of GI Bill benefits primarily. Now look at the nations like Sweden, Denmark, Norway and the Netherlands. All have high tax rates but spend most of those tax receipts on things of direct benefit to the people, health care and education. Now look at post Reagan America. Wages for all but the very top earners is declining in real terms but productivity has reached new highs. The middle class is shrinking. A good college education is increasingly unavailable to the children of the middle class. We are fighting over whether most Americans should be bankrupted by illness. 22% of all American children live in poverty. Which system would you prefer to live under and why? Which system? The system that allows for people to be rewarded for the success of their labors. If a person doesn't think he/she is getting paid a fair wage for his/her labors, then, that person needs to get a better job, no? The current system is placing the Federal income tax burden primarily on those that earn more. What is the incentive to be more productive and/or take on more risk and responsibility if you aren't going to fairly keep your earnings? You can't blame "the rich" for 22% of children in the US living in poverty. It's not the fault of "the rich." Those systems allow people to be rewarded for their success. What they don't do is allow them to impoverish the rest of society because of accidents of birth. And yes it absolutely is the fault of the rich in the US that 22% of our children live in poverty. They are the ones that have systematically undermined and sabotaged the social safety net and fought to prevent expansions of the social programs we know, from other nations experience, would greatly reduce those poverty rates. Instead the rich in this nation continue to push for policies that harm the rest of society and people who call themselves conservatives have fallen for this reactionary claptrap and support it even as they struggle harder and harder to keep their heads above water due to those same policies and people they keep voting for.
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