GOP doesn't want you to keep your tax break

metalman said:
Thought only the rich benefited from the Bush tax cuts!?

Now your saying the middle class will be hurt if the Bush tax cuts expire?!
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It's true that the middle class break is only a token amount, the rich disproportionately benefited (and it seems they didn't feel the need to plough their tax breaks into stimulating the economy). If the whole tax break goes away its really the rich who will notice the most - but it is an easy ploy for the Dems to expose who the GOP really represents and they just can't help showing their elitist colours.
 
FluffyMcDeath said:
It's true that the middle class break is only a token amount,
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If it's only a token amount why bother?

Tax hypocrisy

The Washington Post Co. will pay its 2013 dividends before the end of this year to try to spare investors from anticipated tax increases.

The Washington Post's dividend payment also stands to benefit those with a significant stake in the company, such as Warren Buffett's firm Berkshire Hathaway. Berkshire is its largest shareholder with an estimated 1.7 million shares, which means it could get a roughly $17 million dividend payment.
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any guesses who both the Washington Post and Warren Buffett endorsed for President?


The Link Between High Tax Rates and Corruption


Obama, bringing Chicago Crook county politics to Washington
 
metalman said:
The Link Between High Tax Rates and Corruption
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If the tax rate were zero there would still be corruption. You'd get big GMO companies bribing the government to write laws that protect them from getting sued for poisoning people, oil giants bribing governments to let them drill in public parks without having to worry about environmental impacts or water and air quality, nuclear power plants bribing governments to raise the acceptable radiation exposure, etc.

The problem isn't the taxes being too high, the problem is the companies having too much money. Only when the bribers have the money can they successfully bribe. If they didn't have the spare cash, they couldn't do it.
 
Robert said:
A nice, wee, five minute look at tax:
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Absolutely. Companies hire if they can make more money by hiring people and that can only happen if there are more opportunities to exploit - and that means people having money to spend.
 
The Self-Destruction of the 1 Percent

In 1315, when the Venetian city-state was at the height of its economic powers, the upper class acted to lock in its privileges, putting a formal stop to social mobility with the publication of the Libro d’Oro, or Book of Gold, an official register of the nobility. If you weren’t on it, you couldn’t join the ruling oligarchy.
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America’s Serrata also takes a more explicit form: the tilting of the economic rules in favor of those at the top. The crony capitalism of today’s oligarchs is far subtler than Venice’s. It works in two main ways.

The first is to channel the state’s scarce resources in their own direction. This is the absurdity of Mitt Romney’s comment about the “47 percent” who are “dependent upon government.” The reality is that it is those at the top, particularly the tippy-top, of the economic pyramid who have been most effective at capturing government support — and at getting others to pay for it.
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IN the early 19th century, the United States was one of the most egalitarian societies on the planet. “We have no paupers,” Thomas Jefferson boasted in an 1814 letter. “The great mass of our population is of laborers; our rich, who can live without labor, either manual or professional, being few, and of moderate wealth. Most of the laboring class possess property, cultivate their own lands, have families, and from the demand for their labor are enabled to exact from the rich and the competent such prices as enable them to be fed abundantly, clothed above mere decency, to labor moderately and raise their families.”

For Jefferson, this equality was at the heart of American exceptionalism: “Can any condition of society be more desirable than this?”
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