Originally posted by Darth Jello
Well here's the problem with how people have been fooled into believing bullshit in this country. It's been framed that the insanely high taxes on high income pre-Reagan was an effort to redistribute wealth when in actuality, with the way right-offs were setup, they were a clever way for government to basically twist the rich's arm into growing their business and hiring. The idea was that you either grow your business and make a little more next year or you get punished for being unamerican. Free trade complicates that since America is more or less the least protectionist nation on the planet and the richest people receiving income exclusively from capital gains makes it worse. A good tax plan to eliminate the deficit and actually recover the economy would look like this--70% tax on income over $1 million. This can be written off by investing in domestic companies.
-90% tax on capital gains levied on all citizens under 65 who do not earn an additional income.
-5% luxury tax on net worth for all citizens and legal residents owning property in the United States or its territories worth over $5 million. To be increased to 15% during economic deficits and 30% during wartime, regardless of whether congress has declared war.
-Flat 30% write-off for charitable contributions regardless of income.
-All income subject to Social Security tax.
-20% sin tax on all recreational drugs, prostitution, political contributions and pornography with the exception of alcohol.
-Unpaid corporate income tax to be levied against the personal income of all boardmembers and executives of said corporations (additional 35%, regardless of whether it exceeds 100% of income).
-Penalty for dodging taxes using offshore havens-seizure of all assets and a minimum of 35 years in prison.
-Revoke tax on unemployment insurance payments.
-Revoke tax on pay and awards for Peace Corps and AmeriCorps corpsmembers and all military NCO's and CO's earning under $50,000 annually.That's just tax policy and I would vote for any billionaire touting that kind of budget. If we're going to have horrific income inequality, we should solve it by having the people hoarding 50% of the wealth foot 95% of the tax burden.
Me (a German in Germany) asking you what your preferred tax rate is is proof of how people in your country have been fooled into believing bullshit?
What?
I don't disagree with taxing rich people an appropriate rate btw. I think there's probably a decent median to be found between the almost nothing the US does now, and your (ridiculous) ideas.
Originally posted by Bardock42
I don't disagree with taxing rich people an appropriate rate btw. I think there's probably a decent median to be found between the almost nothing the US does now, and your (ridiculous) ideas.
from what I've seen, reinstating Clinton era tax rates, only marginally higher (~5% iirc), on the richest Americans would almost eliminate major fiscal woes.
not that that would be some final solution (ha, dropping that in a convo with a Jew and a German), but it seems the most rational step at this point, imo
Originally posted by inimalist
from what I've seen, reinstating Clinton era tax rates, only marginally higher (~5% iirc), on the richest Americans would almost eliminate major fiscal woes.not that that would be some final solution (ha, dropping that in a convo with a Jew and a German), but it seems the most rational step at this point, imo
Well, with Obama being a Republican President, nothing much is going to be done in that area I suppose, it is rather sad, in retrospect, that he won, as it screwed the US for at least two terms, but what can you do.
Oh and my sarcastic reply to Darth Jello seems idiotic now in a rereading, as it appears he meant it's wrong in general, rather that I am an example of how it is wrong....D'OH
President Obama announced yesterday that he will raise taxes on the wealthy to slightly higher than Clinton era figures and that there will be no further compromise on the Bush era tax cuts. He used some of his most directed and bold language I've heard from him since the '08 campaign. Although he did announced he was beginning his '12 run only a few short days earlier.
Originally posted by skekUng
President Obama announced yesterday that he will raise taxes on the wealthy to slightly higher than Clinton era figures and that there will be no further compromise on the Bush era tax cuts. He used some of his most directed and bold language I've heard from him since the '08 campaign. Although he did announced he was beginning his '12 run only a few short days earlier.
it sounded good, but he still promoted a plan that has massive cuts of what are called "entitlements" and lots of tax loop holes
Originally posted by inimalist
it sounded good, but he still promoted a plan that has massive cuts of what are called "entitlements" and lots of tax loop holes
I heard him address those loopholes in the speech he gave. I was listening on NPR, so I don't think they edited it in any way.
We are too far in debt to continue spending the way we have, but I agree that eliminating parts of the support systems that aide the poor and educate their children isn't the best way.
Originally posted by skekUng
I heard him address those loopholes in the speech he gave. I was listening on NPR, so I don't think they edited it in any way.
Originally posted by skekUng
We are too far in debt to continue spending the way we have, but I agree that eliminating parts of the support system's that aide the poor and educate their children isn't the best way.
:/
you Americans and your tax mythology...
😛
Originally posted by skekUng
I heard him address those loopholes in the speech he gave. I was listening on NPR, so I don't think they edited it in any way.We are too far in debt to continue spending the way we have, but I agree that eliminating parts of the support systems that aide the poor and educate their children isn't the best way.
There's one very, very clear sector of spending in the US that should have some cuts.
Originally posted by skekUng
President Obama announced yesterday that he will raise taxes on the wealthy to slightly higher than Clinton era figures and that there will be no further compromise on the Bush era tax cuts. He used some of his most directed and bold language I've heard from him since the '08 campaign. Although he did announced he was beginning his '12 run only a few short days earlier.
Finally includes cuts to the military as well, iirc.
Originally posted by inimalist:/
you Americans and your tax mythology...
😛
I might have missed it, but I didn't hear anything about loopholes. Or was your point that it was a great speech that will mean nothing when it comes down to it? I admit, my least favorite line of the speech was when the president said that he doesn't expect the final agreement to exactly reflect what he'd just spent 10 minutes talking about.
I liked text bug at the bottom of the screen that siad "GOP accuses Pres of Class Warfare". damn right. If I were less naive, I'd say he sould run on that poor v rich argument, but the poor have no money.
Originally posted by King Kandy
Yeah, I was incredibly happy to hear it. The first Obama policy I actually liked.Finally includes cuts to the military as well, iirc.
The cuts are pretty all-inclusive. sadly, I can't recall if he said that defense spending would be cut, or if it was just in Ryan's plan. It's a lot to digest when you have a job and a family on top of keeping up with politics.
Originally posted by skekUng
I might have missed it, but I didn't hear anything about loopholes. Or was your point that it was a great speech that will mean nothing when it comes down to it? I admit, my least favorite line of the speech was when the president said that he doesn't expect the final agreement to exactly reflect what he'd just spent 10 minutes talking about.I liked text bug at the bottom of the screen that siad "GOP accuses Pres of Class Warfare". damn right. If I were less naive, I'd say he sould run on that poor v rich argument, but the poor have no money.
my point is, for all the rhetoric, people who report on the president seem to think he is going to accept the Simpson-Bowels budget plan, which is not nearly as progressive as the language of the speech.
Basically, his words were entirely cynical, trying to bolster support from his base running up to an election, so that he has some progressive "street cred", after caving to the Reps for nearly $40b in cuts that his base didn't want.
Originally posted by inimalist
my point is, for all the rhetoric, people who report on the president seem to think he is going to accept the Simpson-Bowels budget plan, which is not nearly as progressive as the language of the speech.Basically, his words were entirely cynical, trying to bolster support from his base running up to an election, so that he has some progressive "street cred", after caving to the Reps for nearly $40b in cuts that his base didn't want.
I did mention that it was a strong speech that took place only a few days after he annouced the beginning of his '12 campaign.
However, I think that you could find two more talking heads from both sides of the aisle that would disagree with these two.
Originally posted by skekUng
I did mention that it was a strong speech that took place only a few days after he annouced the beginning of his '12 campaign.However, I think that you could find two more talking heads from both sides of the aisle that would disagree with these two.
I'm sure you could...
how many people who report on presidental policy are saying he isn't going with the Simpson-Bowels plan though?
Simpson and Bowels were even at the whitehouse today meeting with the president. I could be wrong, but some flowery language doesn't really convince me that Obama is on any swing back to the left.
Originally posted by inimalist
because social engineering is wrong?
Weeeeeelllllll...there's really no difference between what he's suggesting on the "sin-tax" and what is actually happening, now.
It's just that...
His way is more up-front about it and liberal.
Originally posted by inimalist
not that that would be some final solution (ha, dropping that in a convo with a Jew and a German)
😆
holy sh*t