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Old 12-07-2010, 01:55 PM   #16
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Originally Posted by Irvine511 View Post
We have enormous income inequality in America, and if a small percentage of the population is dead set on owning 95% of the wealth in the country, doesn't it seem logical that they should be paying the most in taxes?
This is the question.
Wealth has been flowing upward for more than 30 years. What percentage of America's wealth is everyone comfortable with the top 2 percent owning? 75 percent? 85 percent? 95 percent? 99 percent? 99.9 percent?

The less progressive our tax policy is, the greater the wealth inequality becomes. Should we wait until the disparity is so great that the majority of Americans have nothing left to lose? French Revolution time?

Wealth And Inequality In America
^very interesting charts
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Old 12-07-2010, 02:03 PM   #17
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So the Republicans said, "If you do away with the tax cuts for people with more money than they could ever spend, we will do away with the money that goes to help the people that hardly get by at all.", only to score some cheap political points.
How patriotic.
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Old 12-07-2010, 02:08 PM   #18
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How patriotic.
So, you (the rich) profited while most other Americans got poorer, and your nation dramatically increased its debt, but it's not your responsibility to pay more?

Yup, patriotic.
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Old 12-07-2010, 02:34 PM   #19
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And if the tax cuts for the wealthier must expire at some point, I honestly cannot imagine a worse time to do it than now.
Inclined to agree, it could have a deflationary effect. Better to try to persuade the rich folk to spend more and invest in productive enterprises rather than leaving their moolah sitting around in bonds and deposit accounts, or worse, squirreling it away offshore for fear that the Obama administration adopts a 'screw the rich' approach. While there are some services that cannot be provided by the private sector and some government operations even generate returns to the taxpayer, the government sector is by definition not economically productive in overall net terms (no offense to anyone that works in the public sector, that's just the way it is).

Possibly, rescinding the tax cuts but allowing some form of tax deduction for high earners who avail of some form of scheme for investing in SME's might make sense.
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Old 12-07-2010, 07:56 PM   #20
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really? we do realize that extending the Bush tax cuts for the wealthiest is actually almost as expensive as the stimulus, yes?
This just proves that the Tea Party, like we knew all along, are all a bunch of frauds. It wasn't about the deficit for them.

2861's post shows one of the fundemental problems with the Tea Party: where they get their information. That 50% number is used everyday by the likes of Glenn, Rush, Hannity but no one in their audience understands what the number means.
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