Trickle-down Obama

Races for the Senate, U.S. House, etc. and other issues of national importance.
Rich Schultz
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Re: Trickle-down Obama

Postby Rich Schultz » Thu Jul 12, 2012 10:32 am

Meade wrote:Oh, is snoqueen one of the rich people?


According to Snoqueen "the school" has arranged accommodations on a famous beach in Brazil, so either rich, gaming the system or checking on overseas accounts.

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Re: Trickle-down Obama

Postby Meade » Thu Jul 12, 2012 10:36 am

Henry Vilas wrote:
Meade wrote:I feel sorry for your former students if the subject you taught was English, Henry Vilas. Crooked mean dishonest. Not all crooked behavior is criminal.

Not according to the dictionary:
A crook is defined as "a person who engages in fraudulent or criminal practices."

Key word is "or". You do know the difference between "and" and "or" don't you, Henry?

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Re: Trickle-down Obama

Postby Henry Vilas » Thu Jul 12, 2012 10:46 am

Is gaming the system fraud? Or is fraud a crime?

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Re: Trickle-down Obama

Postby Peanutbutter » Thu Jul 12, 2012 11:15 am

Since Henry is confused about the definition of the word "fraud" I feel that I should point out that even tho I have called him that many times his lies and deceit do not rise to a criminal level.

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Re: Trickle-down Obama

Postby gargantua » Thu Jul 12, 2012 11:44 am

Wow, I just can't get enough of this pointless arguing about the meaning of words.

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Re: Trickle-down Obama

Postby rabble » Thu Jul 12, 2012 12:03 pm

Hey, it serves a purpose.

We've stopped talking about how the top five percent owns 72 percent of the wealth and pays 58 percent of the tax, haven't we?

That there's one damn good hijack.

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Re: Trickle-down Obama

Postby Rich Schultz » Thu Jul 12, 2012 12:14 pm

Much of the "wealth" is owned by old people with low income. Do you really want to make Grandma sell the house and Grandpa sell the farm so they can pay a wealth tax?

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Re: Trickle-down Obama

Postby rabble » Thu Jul 12, 2012 12:18 pm

Rich Schultz wrote:Much of the "wealth" is owned by old people with low income. Do you really want to make Grandma sell the house and Grandpa sell the farm so they can pay a wealth tax?

No, much of the "wealth" - as in 72 percent of it - is owned by the top five percent. I proved it several posts ago. The rest of us own the other twenty eight.

If you think it's not "true," feel free to post your "source."

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Re: Trickle-down Obama

Postby Henry Vilas » Thu Jul 12, 2012 12:33 pm

The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and in another tax which is far more easily collected and far more effective-a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate.


From a speech by a Republican or a radical Communist?

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Re: Trickle-down Obama

Postby Francis Di Domizio » Thu Jul 12, 2012 12:54 pm

rabble wrote:
Rich Schultz wrote:Much of the "wealth" is owned by old people with low income. Do you really want to make Grandma sell the house and Grandpa sell the farm so they can pay a wealth tax?

No, much of the "wealth" - as in 72 percent of it - is owned by the top five percent. I proved it several posts ago. The rest of us own the other twenty eight.

If you think it's not "true," feel free to post your "source."


As was pointed out in the link you provided, there is no inherent requirement for an even or equitable distribution of wealth in a Democratic government.
Taxing income (whether it be capital gains, work income, inheritance or other) makes sense and doing so in progressive manner is a defensible position. Penalizing people for accumulating wealth(that was already taxed when it was earned) isn't something that would be as palatable in the general public I suspect.


@Henry what would an "income tax" on big fortunes be? Higher tax rates for higher incomes does make sense, but how do you have a graduated income tax on big fortunes? If the definition of a fortune is a large amount of wealth, it is by it's nature not income.

Also can we stop pretending that any past Republican president would fit in the mold of the current Republican/Tea party?

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Re: Trickle-down Obama

Postby rabble » Thu Jul 12, 2012 1:00 pm

Francis Di Domizio wrote:
As was pointed out in the link you provided, there is no inherent requirement for an even or equitable distribution of wealth in a Democratic government.
Taxing income (whether it be capital gains, work income, inheritance or other) makes sense and doing so in progressive manner is a defensible position. Penalizing people for accumulating wealth(that was already taxed when it was earned) isn't something that would be as palatable in the general public I suspect.

The fact is, today we really have no other indicator for how much the ultra rich earn. Most of that accumulated wealth is also earning an income and much of that income is hidden. Therein lies the rub. The rich, by virtue of being rich, get richer.

I could live with an equitable income tax, though. That would be a good start. Get rid of the loopholes, the hedges, all the tricky little ways the rich hide their money, tax them on every dollar they make, the same percentage as you and I pay, and I will let them keep their wealth.

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Re: Trickle-down Obama

Postby Henry Vilas » Thu Jul 12, 2012 1:08 pm

Does Romney report and pay taxes the interest income he earns on his secret Swiss bank account?

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Re: Trickle-down Obama

Postby wack wack » Thu Jul 12, 2012 1:15 pm

Francis Di Domizio wrote:Taxing income (whether it be capital gains, work income, inheritance or other) makes sense and doing so in progressive manner is a defensible position.


I think we should start reform by treating money earned by working hands much differently from income earned through investment or inheritance.

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Re: Trickle-down Obama

Postby jman111 » Thu Jul 12, 2012 1:20 pm

wack wack wrote:
Francis Di Domizio wrote:Taxing income (whether it be capital gains, work income, inheritance or other) makes sense and doing so in progressive manner is a defensible position.


I think we should start reform by treating money earned by working hands much differently from income earned through investment or inheritance.

But we already do. We tax it higher in most cases, right?

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Re: Trickle-down Obama

Postby Francis Di Domizio » Thu Jul 12, 2012 1:26 pm

Henry Vilas wrote:Does Romney report and pay taxes the interest income he earns on his secret Swiss bank account?


Are you just worried that Romney needs to be better at keeping secrets?

Or is the nature of your issue that people should pay taxes on all of their income, and not that people have wealth? I agree and think before we contemplate a raise in any tax rates we should actually get people to pay what their income says they should. Get rid of loop holes and tax dodges and hold people to the tax rate they should be paying at.

If after that, I think it's safe to say that history has shown the economy does not suffer when when the tax rate on the wealthiest Americans is significantly higher.


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