Only The Rich Pay Taxes....

[Gravitymaster 0]

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>Republicans "engineer" taxes to benifit everyone.

According to them. According to democrats, their cuts do the same thing. Their theory:

Give a tax cut to Warren Buffet and he just puts the extra money in his savings. You don't need another two accountants to manage another three million dollars. Give a tax cut to a carpenter in New Orleans, and he takes that money and puts new brakes on his car. Money goes to the brake shop, local mechanics and a local businessman. Businessman does better; hires more mechanics (even though he's not paying any more or less in taxes.)

Both theories sound good. Both are social engineering.

Give the money to Buffet and he invests the money in stocks and/or bonds which help companies finance expansion and/or the development of new products.

The carpenter would have put new brakes on his car regardless of the tax cut. So he spends the extra money on beer, cigarettes, pot and lottery tickets or maybe a new pair of jeans made in Mexico.

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[billvon 3,118]

>Give the money to Buffet and he invests the money in stocks
>and/or bonds which help companies finance expansion and/or the
> development of new products.

Nope, sorry. Buffet himself has disputed this, and I have to go with his opinion over yours. (Don't let that stop you though.)

>The carpenter would have put new brakes on his car regardless of
> the tax cut.

I think you assume, as many people do, that most of the people in this country have no problems affording basics like car maintenance. It is a false assumption. A great many people in this country make under $30,000 a year.

[rehmwa 2]

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>Nope, sorry. Buffet himself has disputed this, and I have to go with his opinion over yours. (Don't let that stop you though.).

Buffet has no idea what the bank does with his money and how those funds get invested. He puts it in the bank. That doesn't equate to money sitting in a 'lockbox' gathering dust.

It's a Wonderful Life - Jimmy Stewart telling the townspeople that "I don't have your money, it's in Jim's farm and Bob's house, and ......."

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Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[billvon 3,118]

>Buffet has no idea what the bank does with his money . . . .

Seriously? You do know what he does for a living, right? (Do you think Bill Gates has no idea what his IT department does?)

[Gravitymaster 0]

I give up, Bill. You win. Buffet puts his cash in a safety deposit box and it doesn't benefit anyone. Happy now?

[DrewEckhardt 0]

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The people that pay the most tax are the poor saps that are salaried in the 35% bracket that can write crap off like business owners.

Guys making $61,300 - $94,200 get hit hardest with the highest real marginal tax rate of 40.3% : 25% income + 12.4% FICA + 2.9% Medicare. I was really pissed when I was consulting earlier in my career and the governments only let me keep 49 cents of every dollar even though I couldn't afford a house in town!

People making under $7000 a year have a higher real marginal tax rate than those making $188,450. 10% income + 6.2% FUTA + 12.4% FICA + 2.9% Medicare = 31.5%. People who earn $188,450 as salary only pay 28% in income taxes + 2.9% for medicare = 30.9% on their last $94,250.

Obviously the totals go way up as you make more, even though people who contribute far less have an equal say in how much is collected and how it is spent...

[Gravitymaster 0]

Good point. We are quickly approaching the point where more than 50% will not pay any Federal Income taxes. Think about the ramifications of that. The majority not paying taxes electing politicians who promise to increase taxes on those who do.

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[billvon 3,118]

>That doesn't equate to money sitting in a 'lockbox' gathering dust.

I didn't say it did. I did say that giving the poor a tax break puts the money back into circulation almost immediately; that does not happen if you give Buffet the same tax break.

But don't take my word for it. In his own words: "Putting $1,000 in the pockets of 310,000 families with urgent needs is going to provide far more stimulus to the economy than putting the same $310 million in my pockets." Perhaps he knows a little something about how money is used in the stock market, eh?

[rehmwa 2]

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>That doesn't equate to money sitting in a 'lockbox' gathering dust.

I didn't say it did. I did say that giving the poor a tax break puts the money back into circulation almost immediately; that does not happen if you give Buffet the same tax break.

you're right, the bank, might possibly take slightly longer to put the money back into circulation and not always directly through those people and classes that you'd prefer.

there, feel better?

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Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[kallend 2,148]

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>Nope, sorry. Buffet himself has disputed this, and I have to go with his opinion over yours. (Don't let that stop you though.).

Buffet has no idea what the bank does with his money and how those funds get invested. He puts it in the bank. That doesn't equate to money sitting in a 'lockbox' gathering dust.

It's a Wonderful Life - Jimmy Stewart telling the townspeople that "I don't have your money, it's in Jim's farm and Bob's house, and ......."

Ha ha. Buffet the billionaire investor is clueless about his finances. Nice one.

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The only sure way to survive a canopy collision is not to have one.

[narcimund 0]

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Buffet has no idea what the bank does with his money

Ha ha. Buffet the billionaire investor is clueless about his finances. Nice one.

Wow. It's AMAZING what bullshit people can spew with a straight face in order to pretend to support their position, isn't it?

First Class Citizen Twice Over

[Gravitymaster 0]

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>Nope, sorry. Buffet himself has disputed this, and I have to go with his opinion over yours. (Don't let that stop you though.).

Buffet has no idea what the bank does with his money and how those funds get invested. He puts it in the bank. That doesn't equate to money sitting in a 'lockbox' gathering dust.

It's a Wonderful Life - Jimmy Stewart telling the townspeople that "I don't have your money, it's in Jim's farm and Bob's house, and ......."

Ha ha. Buffet the billionaire investor is clueless about his finances. Nice one.

Buffet most certainly does know where his money goes. That's why I think it's ridiculous to think he would just stick any monetary gain by way of a tax cut, in the bank. Point being the claim a tax cut for the wealthy doesn't benefit everyone is false because the money is reinvested into the economy. You could also argue that the blue collar carpenter who buys a Mexican made shirt and jeans made in Bangledesh is hurting the economy.

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[kallend 2,148]

Hey, argue with Warren - he said it, not me or Bill.

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You could also argue that the blue collar carpenter who buys a Mexican made shirt and jeans made in Bangledesh is hurting the economy.

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Not as much as the rich boy who buys a Ferrari.

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The only sure way to survive a canopy collision is not to have one.

[Gravitymaster 0]

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Hey, argue with Warren - he said it, not me or Bill.

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You could also argue that the blue collar carpenter who buys a Mexican made shirt and jeans made in Bangledesh is hurting the economy.

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Not as much as the rich boy who buys a Ferrari.

Good Point I seriously doubt however, that anybody's tax cut would buy them a Ferrari. I do think it's likely about the jeans and shirt. Maybe even some Mexican Pot.

[billvon 3,118]

>Maybe even some Mexican Pot.

Thus supporting the War on Drugs, a multi-billion-dollar US business!

[rehmwa 2]

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>Nope, sorry. Buffet himself has disputed this, and I have to go with his opinion over yours. (Don't let that stop you though.).

Buffet has no idea what the bank does with his money and how those funds get invested. He puts it in the bank. That doesn't equate to money sitting in a 'lockbox' gathering dust.

It's a Wonderful Life - Jimmy Stewart telling the townspeople that "I don't have your money, it's in Jim's farm and Bob's house, and ......."

Ha ha. Buffet the billionaire investor is clueless about his finances. Nice one.

ha ha - Take it up with Billvon. He's the one that said Buffet just 'sticks it in the bank'. So I'm just going with his assumption that banks don't put money in circulation. If you think he doesn't put his money in the bank and instead manages it through investments and other financial tools, then that I truly do believe.

Or you can just be petty and try to belittle anyone instead of discussing it. Maybe someone will come along and stand behind you and agree with you too.

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Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[Lindsey 0]

Know what I REALLY love? That THIS year....will never happen again....because I paid out the ass for medical school tuition, am a single mom, and only worked half the year I got back more money than I paid in.

I benefited from the Earned Income Credit, and was awarded $3,000 more than I paid in taxes last year. So thanks to y'all who afforded me this benefit.

If I decide to buy pot with any of it....be assured it'll be LOCAL. Arkansas boys know how to do things like that.

Peace~
linz

--
A conservative is just a liberal who's been mugged. A liberal is just a conservative who's been to jail

[mnealtx 0]

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But don't take my word for it. In his own words: "Putting $1,000 in the pockets of 310,000 families with urgent needs is going to provide far more stimulus to the economy than putting the same $310 million in my pockets." Perhaps he knows a little something about how money is used in the stock market, eh?

The problem is that y'all keep looking at it as "either/or". You ignore the fact that those 310,000 families *DID* get a tax break as well.

I love how the the left is all for equality...until that equality is due to someone over the 18% tax bracket or who owns a business.

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[Samurai136 0]

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I love how the the left is all for equality...until that equality is due to someone over the 18% tax bracket or who owns a business.

Please don't mis-represent the Left.

Here's a quote from the Karl Marx primer:

"From each according to his abilities, to each according to his needs. "

The wealthy have the means to pay more of the tax burdon. People making less than 30K have the majority of their income devoured by the basic costs of living.

"Buttons aren't toys." - Trillian
Ken

[mnealtx 0]

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I love how the the left is all for equality...until that equality is due to someone over the 18% tax bracket or who owns a business.

Please don't mis-represent the Left.

Here's a quote from the Karl Marx primer:

"From each according to his abilities, to each according to his needs. "

The wealthy have the means to pay more of the tax burdon. People making less than 30K have the majority of their income devoured by the basic costs of living.

Thanks for helping prove my point!!

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[rehmwa 2]

I think the Zaphod avator is about the happiest avatar on the boards right now.

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Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[Channman 2]

> "From each according to his abilities, to each according to his needs. "

Ken, I hope your not a true follower of Karl Marx, suffic it to say, it is both foolish and wicked to teach the average man who is not well off that some wrong or injustice has been done to him. That those making less than 30K should hope for redress elsewhere than in their own industry i.e. for the lefteys that means work, honesty, and intelligence.

Simply put, self reliance and a focused vision to pursue a better life than you may have now. Don't expect it or demand it from others, but expect it and demand it of yourself.

[billvon 3,118]

>You ignore the fact that those 310,000 families *DID* get a tax
>break as well.

That's great! But all tax breaks have to come from somewhere, and if you take the same money from Buffett and give it to those families, that will do a lot more to help the economy.

[mnealtx 0]

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>You ignore the fact that those 310,000 families *DID* get a tax
>break as well.

That's great! But all tax breaks have to come from somewhere, and if you take the same money from Buffett and give it to those families, that will do a lot more to help the economy.

And at what point does robbing the rich to give to the poor become unfair to them? The people being robbed, I mean - of course the people getting the benefit aren't going to turn down their "bread and circuses".

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" 'Bread and Circuses' " is the cancer of democracy, the fatal disease for which there is no cure. Democracy often works beautifully at first. But once a state extends the franchise to every warm body, be he producer or parasite, that day marks the beginning of the end of the state. For when the plebs discover that they can vote themselves bread and circuses without limit and that the productive members of the body politic cannot stop them, they will do so, until the state bleeds to death, or in its weakened condition the state succumbs, to an invader - the barbarians enter Rome."

- Jubal Harshaw, from To Sail Beyond the Sunset, by Robert A. Heinlein, pg. 227

Seems very apropos for today's society, don't you think?

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[kallend 2,148]

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>You ignore the fact that those 310,000 families *DID* get a tax
>break as well.

That's great! But all tax breaks have to come from somewhere, ...

False. We just up the national debt limit and keep borrowing.

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The only sure way to survive a canopy collision is not to have one.