Show me the money
- Thread starter faethor
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Faethor said
Show me the money
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All you had to do was ask!
Taxes and inequity in the US
Show me the money
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All you had to do was ask!
Taxes and inequity in the US
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faethor said:
Yes and no, but one thing is clear. Obama is hell bent on making sure there are 2 classes of people. The top 0.3% or so extremely wealthy elitist ruling class and the 99.7% or so of us who are penniless serfs.
Seriously? I completely agree with faethor. It's been a 30 year trend. Granted Obama hasn't done much to buck it, but of the presidents of the past 30 years, he certainly hasn't embraced it as much as some previous chiefs have.
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ilwrath said:
Yes, seriously. It will be a miracle if there is not a total societal collapse in the next 10 years due to policies being put in place by the Obama administration and the democrats in congress. The ultra wealthy and politicians will benefit from this collapse, while the rest of us grovel for free government cheese.
You can bet your bottom dollar it will be a lot worse than this.
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People with two kids earning less than $50,000 paid no federal income tax. Good. They don't have any money. However, they paid lots of state tax and sales tax etc.
On the other hand, the top 1% of the top1% earn millions a year (or more) and often pay no income tax.
Corporations like Exxon and GE pay no federal income tax despite having profits in the billions. And I said PROFITS which means money over and above what it cost them to do business. You can say that they would pass the costs onto the consumers but they have already passed onto consumers more than their costs. If they paid half of their profits in tax they would still have massive profits without needing to pass anything onto consumers. These companies are currently gouging consumers and because they have offshore tax shelters consumers have no means of recovering those unfair costs.
@red - there already ARE two classes, the rulers and the sheep. That's the way it's always been but sometimes the sheep are smarter than other times. US sheep are particularly dumb and they think that the best thing to do is keep giving more to the rulers and then they will get to be rulers too. Dumb dumb dumb sheep.
In the 70s (before Reagan) the top tax rate was about 70%. It's come down a long way since then (with the rich writing the tax laws all the way - surprise surprise) and it hasn't made the poor better off. It's just made more poor people and it's made the rich richer. Only a steep tax increase and a closing of the loopholes at the top will make the two classes of people into one class but that's just exactly the sort of thing you rail against.
On the other hand, the top 1% of the top1% earn millions a year (or more) and often pay no income tax.
Corporations like Exxon and GE pay no federal income tax despite having profits in the billions. And I said PROFITS which means money over and above what it cost them to do business. You can say that they would pass the costs onto the consumers but they have already passed onto consumers more than their costs. If they paid half of their profits in tax they would still have massive profits without needing to pass anything onto consumers. These companies are currently gouging consumers and because they have offshore tax shelters consumers have no means of recovering those unfair costs.
@red - there already ARE two classes, the rulers and the sheep. That's the way it's always been but sometimes the sheep are smarter than other times. US sheep are particularly dumb and they think that the best thing to do is keep giving more to the rulers and then they will get to be rulers too. Dumb dumb dumb sheep.
In the 70s (before Reagan) the top tax rate was about 70%. It's come down a long way since then (with the rich writing the tax laws all the way - surprise surprise) and it hasn't made the poor better off. It's just made more poor people and it's made the rich richer. Only a steep tax increase and a closing of the loopholes at the top will make the two classes of people into one class but that's just exactly the sort of thing you rail against.