patrick.net

zhanka says

I just don't like who is targeted. How many married couples with children lets say in bay area with income $250,000+ feel rich? We don't, even though we considered the top 1% (although the bottom one) :( Why singles treated better than married; $200,000 for singles and only $250,000 for married?

Prostoye obyasneniye (simple explanation) - single person faces higher monthly fixed costs - rent/mortgage, all utilities, some insurance, thus they have less discretionary income left. When it comes to big ticket items, including travel, you get a 50% discount basically when you are married, so I don't see anything inherently unjust about $200Gs/$250Gs single/married tax policy.

dublin hillz says

zhanka says

I just don't like who is targeted. How many married couples with children lets say in bay area with income $250,000+ feel rich? We don't, even though we considered the top 1% (although the bottom one) :( Why singles treated better than married; $200,000 for singles and only $250,000 for married?

Prostoye obyasneniye (simple explanation) - single person faces higher monthly fixed costs - rent/mortgage, all utilities, some insurance, thus they have less discretionary income left. When it comes to big ticket items, including travel, you get a 50% discount basically when you are married, so I don't see anything inherently unjust about $200Gs/$250Gs single/married tax policy.

I guess you don't know my wife. She came with a 4X multiplier to my spending habits. A 2X would be an improvement, let along a 1.5 like you reference. ;)

dublin hillz says

zhanka says

I just don't like who is targeted. How many married couples with children lets say in bay area with income $250,000+ feel rich? We don't, even though we considered the top 1% (although the bottom one) :( Why singles treated better than married; $200,000 for singles and only $250,000 for married?

Prostoye obyasneniye (simple explanation) - single person faces higher monthly fixed costs - rent/mortgage, all utilities, some insurance, thus they have less discretionary income left. When it comes to big ticket items, including travel, you get a 50% discount basically when you are married, so I don't see anything inherently unjust about $200Gs/$250Gs single/married tax policy.

There should be NO tax structure in place that treats anyone person differently due to marriage status. The fact that the single person can reduce those "higher monthly fixed costs" by having others live with them in a room mate situation shows that if they are smart, they can divide those costs just as easily as a married couple. "travel" is not a living requirement. Again, there should be NO TAX that is applied differently to persons of varying marital status. Plain and Simple.

dublin hillz says

including travel, you get a 50% discount basically when you are married

Do you have kids? "50% discount"? Hmm... maybe for hotel, what about air tickets lets say for 4, dining out...?

What about cost of education? UC system charges $30,000+ per year, private school twice as much

There are lots of new taxes coming. If you vote AGAIN for Obama you deserve to be broke forever and should be sterilized after your lobotomy.

FortWayne says

Does this only affect real estate or any kind of income?

Ignorance is the hallmark of right-wingers. Read my first comment again, and try to engage the brain.

I'll give you a hint: The tax applies to CAPITAL GAINS, not earned income (wages).

If you do not know what a capital gain is, you have no business at all opining about tax policy (as you did earlier in this thread). You need a remedial course, start looking it up in Wikipedia.

Obamacare also imposes a special tax on medical devices and pharmaceuticals.
Of course these new taxes are all going to be wonderful for these industries and will help them compete worldwide better than ever before.
I mean, how can poor Swiss drug companies ever compete? They have no such special tax and they have an 8.5% corporate tax (V. USA 35%).
justme you have only 3,130 posts. You need to get your numbers up, eventually you'll convince all of us of your brilliance.

clambo says

Obamacare also imposes a special tax on medical devices and pharmaceuticals.
Of course these new taxes are all going to be wonderful for these industries and will help them compete worldwide better than ever before.
I mean, how can poor Swiss drug companies ever compete? They have no such special tax and they have an 8.5% corporate tax (V. USA 35%).
justme you have only 3,130 posts. You need to get your numbers up, eventually you'll convince all of us of your brilliance.

Clambo,

Big FAIL to you. You cannot make a coherent argument relevant to the subject matter of this thread, so you go fishing for something else (corporate tax rates in Switzerland versus US??) to squabble about.

If you want to discuss that, start your own thread.

justme says

The law affects roughly the top 2% income bracket. I see little wrong in that. You disagree. Fine.

The new law potentially applies to almost every one of tens households in San Jose - San Francisco-Oakland-Vallejo. So, how you feel about that now?

http://www.nytimes.com/interactive/2012/01/15/business/one-percent-map.html

A household income of $250,000 places you in the Top 3% of people who live in the United States.
INCOME REQUIRED TO BE IN THE:
TOP 1% $383,001
TOP 5% $188,001
TOP 10% $140,001
TOP 25% $89,125
TOP HALF $50,742
BOTTOM 25% $25,411
BOTTOM 10% $12,154

A household income of $250,000 places you in the Top 10% of people who live San Francisco-Oakland-Vallejo, Calif..
INCOME REQUIRED TO BE IN THE:
TOP 1% $558,046
TOP 5% 349,693
TOP 10% 238,855
TOP 25% 141,790
TOP HALF 78,086
BOTTOM 25% 37,500
BOTTOM 10% 15,246

A household income of $250,000 places you in the Top 8% of people who live there San Jose, Calif..
INCOME REQUIRED TO BE IN THE:
TOP 1% $517,000
TOP 5% 298,164
TOP 10% 225,852
TOP 25% 146,348
TOP HALF 85,784
BOTTOM 25% 42,892
BOTTOM 10% 19,820

zhanka says

The new law potentially applies to almost every one of tens households in San Jose - San Francisco-Oakland-Vallejo. So, how you feel about that now?

Tax the crap our of then all. Tax the crap out of me. We are living on borrowed money. We need new borrowed money to pay back the liabilities on the last set of bond auctions. Rinse, repeat. All the while we boast about the wealth of this country. Let stop the shell game and tax us all enough to get back to a baseline. No one got the balls to do what is needed, so we are all setup to continue to fall into the abyss together. I'd vote for a double of all existing taxes. Turbo tax says you owe X amount, then you really owe 2X. Didn't even make 2X last year, tough, leave. There are many foreigners that would love your passport.

zhanka says

The new law potentially applies to almost every one of tens households in San Jose - San Francisco-Oakland-Vallejo. So, how you feel about that now?

I feel like this: Stop whining and pay your damn taxes.

Nomograph says

So why do they stay? The same reason that Pharma, Biotech, and high-tech stays in expensive areas such as San Diego, San Francisco, and Boston; the most important factor in success is the ability to recruit and retain the best possible talent. Switzerland has excellent universities such as ETH that provide the skilled workforce they need.

That was true. The sad thing here is that if you are not part of the landed gentry, you cant afford to live in these places anymore. You are a wage slave at the table looking for scraps.

Also, have you noticed, only the kids of the 1% come out of schools debt free, and the rest, saddled with debt, but again, the top schools in these top areas take in wealthy kids pretty much exclusively.

We've ended up with rich people's rich kids go to top schools and graduate and take over companies with their highfalutin credentials and live in posh areas completing the cycle.

What isnt true anymore is this isnt really competitive. And if you think you are so great and so smart you cant be outsourced, just wait. Youll see. The 0.01% who are really in control have something planned for you, and its not pretty.

And most of the best possible talent is wasted. Big companies are mostly antagonistic against innovation. The whole thing is screwed up, and if you've been in the valley for the last 10 years and think things are getting better for innovation or work life or anything you are nuts. Its a crisis.

This isnt going to last. Crowding into these ridiculous cities jammed in traffic. Then we sign over all the fruits of our knowledge to the corporations seen as "people" in the eyes of the law. We do all of the work. Pay all of the taxes. And we do this because we are afraid of sinking into the lower classes. Its all fear. Nothing is about self actualization or innovation. Its about enriching corporations and their preferred owners.

"Forget the politicians. The politicians are put there to give you the idea that you have freedom of choice . . . you don’t. You have no choice. You have owners. They own you. They own everything. They own all the important land. They own, and control the corporations. They’ve long since bought, and paid for the Senate, the Congress, the state houses, the city halls, they got the judges in their back pockets and they own all the big media companies, so they control just about all of the news and information you get to hear. They got you by the balls. They spend billions of dollars every year lobbying . . . lobbying, to get what they want . . . Well, we know what they want. They want more for themselves and less for everybody else, but I’ll tell you what they don’t want . . . they don’t want a population of citizens capable of critical thinking. They don’t want well informed, well educated people capable of critical thinking. They’re not interested in that . . . that doesn’t help them. That’s against their interests. That’s right. They don’t want people who are smart enough to sit around a kitchen table and think about how badly they’re getting screwed by a system that threw them overboard 30 years ago. They don’t want that. You know what they want? They want obedient workers . . . Obedient workers, people who are just smart enough to run the machines and do the paperwork. And just dumb enough to passively accept all these increasingly crappier jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and vanishing pension that disappears the minute you go to collect it, and now they’re coming for your Social Security money. They want your retirement money. They want it back so they can give it to their criminal friends on Wall Street, and you know something? They’ll get it . . . they’ll get it all from you sooner or later cause they own this place. It’s a big club and you ain't in it. You and I are not in The big club. By the way, it’s the same big club they use to beat you over the head with all day long when they tell you what to believe. All day long beating you over the head with their media telling you what to believe, what to think and what to buy. The table has tilted folks. The game is rigged and nobody seems to notice. Nobody seems to care. Good honest hard-working people . . . white collar, blue collar it doesn’t matter what color shirt you have on. Good honest hard-working people continue, these are people of modest means . . . continue to elect these rich cocksuckers who don’t give a crap about you. They don’t give a crap about you . . . they don’t give a crap about you. They don’t care about you at all . . . at all . . . at all, and nobody seems to notice. Nobody seems to care. That’s what the owners count on. The fact that Americans will probably remain willfully ignorant of the big red, white and blue dick that’s being jammed up their butt everyday, because the owners of this country know the truth. It’s called the American Dream cause you have to be asleep to believe it . . .”

justme says

zhanka says

The new law potentially applies to almost every one of tens households in San Jose - San Francisco-Oakland-Vallejo. So, how you feel about that now?

I feel like this: Stop whining and pay your damn taxes.

I wasn't whining, the people like you who feel they are entitled to others peoples hard earned money are. By the way, if you're not noticing the problem we are having not is how much we tax individual income (unearned or earned) but rather:

1) Big Government
2) Big Banks
3) Big Corporations - 30 Major Corporations Paid No Income Taxes In The Last Three Years, While Making $160 Billion
http://thinkprogress.org/economy/2011/11/03/360185/30-corporations-no-taxes/?mobile=nc
Mick Russom says

And most of the best possible talent is wasted. Big companies are mostly antagonistic against innovation. The whole thing is screwed up, and if you've been in the valley for the last 10 years and think things are getting better for innovation or work life or anything you are nuts. Its a crisis.

I agree

4) Real Unemployment Rate http://www.shadowstats.com/alternate_data/unemployment-charts
5) Manufacturing in 3rd world countries
6) Education - already unaffordable for middle class without getting themselves in to more debt

etc etc etc

Nomograph says

BTW, Swiss pharma faces the absolute HIGHEST labor costs for their R&D force, and it's extraordinarily expensive to do business there. Everything costs more.

So why do they stay? The same reason that Pharma, Biotech, and high-tech stays in expensive areas such as San Diego, San Francisco, and Boston; the most important factor in success is the ability to recruit and retain the best possible talent. Switzerland has excellent universities such as ETH that provide the skilled workforce they need.

You'd have a real hard time doing anything in Kentucky aside from building Creation Museums.

I don't know if you work in pharma but I do and Swiss pharma before. Ever since president obama was elected, upper management talked about scaling down US headquarter and moving some to Asia due to the anti-business (maybe only oil and pharma) practise. Why do you think two big Swiss pharma are in Basel? Because the canton tax is low there. You probably haven't seen the headline in Swiss local news that Daniel vasella was threatening to move the headquarter outside Basel when higher tax was proposed. With strong Swiss franc hurting their profits, don't over-estimate their tolerance for tax.

Btw, Novartis once evaluated both San Francisco and Cambridge for their research centre but ended up choosing Boston. Do you think high California tax is not the reason? And, when Novartis bought Chiron at emeryville, they offer to relocate people to east coast. Big stable companies (maybe except high tech) do not pick a place where people like to live. New jersey, a big hub for pharma, is pretty boring, for e.g. Bay area itself is a bubble, unfortunately, my husband is in it.....

justme says

SparrowBell says

Point being, why pay additional 3.8% on capital gains?

Because it is the right thing to do?

Who define right or wrong? As far as i am concerned, I haven't seen my tax money well-spent.

US healthcare has cost problem. Nobody wants to deny people with preexisting conditions healthcare, but last I remember when I had surgery, when it was time to remove the splinter: first nurse came to check my vitals, second came to cut the bandage, third came to remove the stitches, then the doctor came. Until they cut down all those unnecessary stuff, I am not sure if I am shelling more money on that. Treating the symptoms (healthcare malfunction here) may make some feel good about their heroic actions but I don't know if it solves the problem. Well, the memory that many friends in Massachusetts braced the cold to vote for unknown Scott brown as senator to stop healthcare being passed is still vivid, yet congress managed to pass it with some gimmicks. So, you can't expect this to be well-loved law.

zhanka says

I just don't like who is targeted. How many married couples with children lets say in bay area with income $250,000+ feel rich? We don't, even though we considered the top 1% (although the bottom one) :( Why singles treated better than married; $200,000 for singles and only $250,000 for married?

A friend said 350k is a poverty line in bay area, the ironic top 1%. In a drastic action to reduce the tax, she is considering separation. According to her, she could have saved additional >50k (combined income of 400k) a year.

justme says

FortWayne says

Does this only affect real estate or any kind of income?

Ignorance is the hallmark of right-wingers. Read my first comment again, and try to engage the brain.

I can't resist but to comment on this. If ignorance is the hallmark of right-wingers, then I would say arrogance would be the equivalent to apply on left-wingers. Thought there is a saying that arrogant people tend to arrive the wrong conclusion with 100% confidence. And, ignorance could be a bliss too. So, I guess i rather be ignorant than arrogant.

justme: who made you moderator? There are numerous new and exciting taxes in Obamacare that are not just limited to selling houses.
"Just pay your taxes"? How about: Just keep your hands out of my pocket and off my wallet.
RE: Switzerland is expensive. This is just because the Swiss are financially astute enough so that their CURRENCY isn't falling, while everyone else's is falling relative to Swiss Francs.
I remember when I visited Switzerland, it was fantastic, and 1 US dollar=3 Swiss Francs.
Well, today it's I.25 US dollar=1 Swiss Franc.
Of course, the problem today in Switzerland is that they are almost so financially superior to everyone else that their stong currency is too strong and may hurt their exports and other business that trade.
No capital gains taxes, every guy has his own SIG assault rifle to keep, banks that keep your accounts private if you didn't steal it, the right to die if you are a terminal patient with no hope, and low taxes.
In many ways, Switzerland is freer than the USA and definitely has a superior currency.

If taxes doesn't affect business, why are they moving from California to Texas?

Mick,

That last long paragraph is by George Carlin, truth be told.

Good job on the original stuff, though!

SparrowBell says

I can't resist but to comment on this. If ignorance is the hallmark of right-wingers, then I would say arrogance would be the equivalent to apply on left-wingers.

I don't think pointing out the ignorance and lies of the right wing counts as arrogance.

The right wing does however like to claim that other people are arrogant in order to silence them. That that does not work on me.

RentingForHalfTheCost says

SiO2 says

thomas.wong1986 says

Many homeowners like me who bought many years ago, long before the bubble will be impacted.

Thomas, just wait until prices go back to 1992 levels or lower (as is often predicted), then you won't have to pay the tax.

Yup, problem solved. That goes to show if you find yourself complaining about paying taxes on your gains, things are not that bad for you. Gain=good, Loss=Bad

Prices back to 1992 adjusted for inflation NO problem since that would be the normal long term appreciatied value..

and just falling back to some rational time would be more wiser and healthier for the BA economy... I, like many, will look forward to keeping our jobs here...

Nomograph says

The industry here is GROWING.

15 out of 290 jobs listed are in SD the rest are elsewhere in US.
Not that of a biggie..

https://jobs.pfizer.com

United States-Connecticut-Groton
United States-Massachusetts-Andover
United States-Massachusetts-Cambridge
United States-Michigan-Kalamazoo
United States-Missouri-Chesterfield
United States-Missouri-Hannibal
United States-Missouri-Saint Louis
United States-New Jersey-Madison
United States-New Jersey-Peapack
United States-New York-New York
United States-North Carolina-Durham
United States-Tennessee-Memphis
United States-Virginia-Richmond

Nomograph says

Novartis also has lots of positions open right now in their San Diego center, most of which pay well into six figures.

Still putting up a bunch a BS on Biotech Pharma... Like so many Realtors you like to justify SD Prices due to some high fabled salaries.

The reality is like any other business the divisional and dept managers at Novartis have a limited budget they can spend on.. and they dont just hand out six figure salaries like lottery tickets. And with any Bio Pharma cos. the budget on long term projects that can last 10-15 years until full FDA approval, they are very mindfull not to burn that cash too quickly.

The sheeple just don't get it. This will drive house prices up. Who will pay the tax? Indirectly: home buyers. And through inflation, eventually everyone will pay.

Keep in mind, the 3.8% tax is on passive income (hint: rental income, hint, hint). Therefore, do expect rents to go up accordingly. The sheeple just don't get it... "tax the rich, tax the rich...!" The taxes trickle down, always.

StoutFiles says

zhanka says

I just don't like who is targeted. How many married couples with children lets say in bay area with income $250,000+ feel rich? We don't, even though we considered the top 1% (although the bottom one) :( Why singles treated better than married; $200,000 for singles and only $250,000 for married?

Boo hoo! You probably don't feel rich because you choose to live in one of the most overpriced areas in the country. That's your decision though; it doesn't change the fact that you're technically rich.

This country is going broke and the middle class has been carrying the load the whole time. It's about time the upper class starts helping out.

this is such an ignorant comment. BOohoo for you for not making as much. why do you feel justified in making others pay just because they have more money than you????

Talk about class warfare..

Why should anyone pay more taxes to the government, based on some arbitrary number 200k and 250k... just more racket by the unions who can never sustain their lala land benefits that they promised to themselves.

FortWayne says

Why should anyone pay more taxes to the government, based on some arbitrary number 200k and 250k... just more racket by the unions who can never sustain their lala land benefits that they promised to themselves.

This quote establishes that there is NO point in trying to discuss the merit of any given tax with FortWayne, specifically. He does not think taxes have any merit, so just forget it.

However, there is still merit in pointing out lies(*) about taxes, when the right-wingers feel that the truth just is not good enough to make their point. We can keep that part of the discussion going, it definitely has value.

(*) Not by FortWayne, necessarily, although he did exhibit some ignorance about the nature of this is particular tax in the above postings.

If wanting to keep other people's hands off my wallet makes me a "right-winger" does someone wanting to take it make them a thief or just an asshole?

StoutFiles says

This country is going broke and the middle class has been carrying the load the whole time. It's about time the upper class starts helping out.

StoutFiles says

It's about time the upper class starts helping out.

They pay the majority of the taxes.

Not taking sides, just stating facts.

Upper class you refer too are just well-off not super mega wealthy
rich.

The super-mega wealthy rich are the ones who don't pay hardly any tax because they can hire very good accountants and attorneys to fight it.

But that's besides the point... Most of the taxes in this country are unconstitutional and are going towards complete waste.

Taxing people and starting a war against the upper class is not going to solve nothing except feeding the people who forcefully demand the illegal tax money that ends up going to waste anyway.

The US deficit, debts and tax problems are a nationwide systemic problem not a financial problem.

StoutFiles says

That's your decision though; it doesn't change the fact that you're technically rich.

Rich is having a incoming high cash flow compared to the rest of the population.

Wealth is having a high preservation of an asset that may either go up in value or down.

Being wealthy and rich are two different concepts. Just as saving wealth is different than making money that maybe saved, converted and turned into an asset.

Robber Baron Elite Scum says

Taxing people and starting a war against the upper class is not going to solve nothing except feeding the people who forcefully demand the illegal tax money that ends up going to waste anyway.

The US deficit, debts and tax problems are a nationwide systemic problem not a financial problem.

Is a problem of spending too much, not because of insufficient revenue. Increasing taxes and printing money don't solve the root problem, government needs to exercise self-restraints.

hanera says

Is a problem of spending too much, not because of insufficient revenue. Increasing taxes and printing money don't solve the root problem, government needs to exercise self-restraints.

Which is exactly what I said.

hanera says

Is a problem of spending too much, not because of insufficient revenue. Increasing taxes and printing money don't solve the root problem, government needs to exercise self-restraints

Robber Baron Elite Scum says

Which is exactly what I said

And you're both wrong. Spending cuts AND increased revenue are both needed. Additionally, changes in tax structure are needed to reduce income inequality.

You can bring up the class warfare bullshit, but it's pretty simple. In order to increase tax revenue, you have to get it from rich people--poor people simply don't have any to give.

tatupu70 says

AND increased revenue are both needed.

No it's not.

tatupu70 says

In order to increase tax revenue, you have to get it from rich people

In order to increase business profitability due to over-taxation, you have to now lay off 10,000 workers and decrease paychecks for existing workers.

Nice job with that tax structure, tatupu70.

tatupu70 says

You can bring up the class warfare bullshit

There is a very real and very much unneeded class warfare happening in America.

tatupu70 says

poor people simply don't have any to give.

And then neither will the rich people.

Your idea is a most idiotic one. And over the history of this forum... I have personally always have you come across as a know-it all.

Taxation of any group will always result in indirect taxation of other groups.

All that tax money is going to pay interest on bogus debt of paper money created by the fraud called the "Federal Reserve" which is a private bank that lends money to the government. The agency working on it's behalf is the "IRS"...

Go and support more illegal taxes, tatupu70...

The truly mega rich will still not pay any tax and even if they were forced all of them would pack their bags and leave...

Mega-rich people are not attached to anything. They do not get emotional. If they have to leave the USA... They will...

You can than enjoy getting laid off from a job that a rich person is providing for you. Have fun eating your own shit for dinner...

Robber Baron Elite Scum says

In order to increase business profitability due to over-taxation, you have to now lay off 10,000 workers and decrease paychecks for existing workers.
Nice job with that tax structure, tatupu70.

How will increasing taxes on the wealthy affect business profitability? Decreasing income inequality will lead to MORE sales and MORE jobs, not fewer.

Robber Baron Elite Scum says

The truly mega rich will still not pay any tax and even if they were forced all of them would pack their bags and leave...

Good--don't let the door hit them in the ass as they leave.

Robber Baron Elite Scum says

You can than enjoy getting laid off from a job that a rich person is providing for you. Have fun eating your own shit for dinner...

The rich don't provide the jobs. Nice try though.

tatupu70 says

Decreasing income inequality will lead to MORE sales and MORE jobs, not fewer.

We are talking about INCREASING TAX not income equality.

Learn to read and stay on topic.

Increasing taxes on the rich is not going to do anything except make them do cutbacks in business and layoff employees.

Less people with jobs and money would lead to LESS sales and LESS jobs, not more.

tatupu70 says

Good--don't let the door hit them in the ass as they leave.

Have fun with communism.

tatupu70 says

The rich don't provide the jobs. Nice try though.

Honestly... Really? You Believe That?

This statement really makes me think you are either...

1) A Troll
2) Mentally Disabled
3) Extremely Jealous of Rich People & Deluded By Your Jealousy to Believe Such Idiotic Statements.
4) A Kid.
5) A Combination of All Four

Show me any person that ever claimed a poor person gave them a job and I will show you a liar.

Please... Stop commenting. A little knowledge is a dangerous thing.

But what about Warren Buffet's (now famous) line: "there IS class warfare, and my side is winning" or something to that effect?

I don't think we need to go back to an 80% top marginal tax rate, but I think it's crazy that Warren Buffet often pays a lower tax rate than his secretary.

It seems like the capital gains tax should be raised for "ultra-high" net worth individuals. Or, if we still want to do the Reaganomics thing, we should at least lower middle class tax rates to the capital-gains tax rate. But that's probably not possible given our massive deficits.

Robber Baron Elite Scum says

We are talking about INCREASING TAX not income equality

Wrong. We are talking about changing the tax code and making it more progressive. That is one method for reducing income inequality. The current income disparity is the #1 problem with our economy right now IMO. Any changes to the tax code have to be made with this in mind.

Robber Baron Elite Scum says

Honestly... Really? You Believe That?

Yes, because it's true. You have been fed right wing propaganda and have lapped it up like a little kitten. The rich have become exponentially more wealthy over the last 20-30 years. According to you, that should have created lots of jobs, right?? Well, where are they??

Demand creates jobs. End of story. When you move the money into the hands of people that will spend it, then you will create jobs.

tatupu70 says

Demand creates jobs. End of story. When you move the money into the hands of people that will spend it, then you will create jobs.

True. The lower-classes end up giving the money right back to the banking aristocracy. With jobs created in the process...at least temporarily.

Ever see Dave Cheppelle's "Slave Reparations" episode? You know, the "I'm rich, biiatch...*honk-honk*" episode.

wthrfrk80 says

The lower-classes end up giving the money right back to the banking aristocracy. With jobs created in the process...at least temporarily

True--some will naturally make it's way back to the top. Which is why a progressive tax code is needed to continuously counter this natural movement towards the rich gettting richer and the poor poorer.

tatupu70 says

When you move the money into the hands of people that will spend it, then you will create jobs.

No. Spending per say doesn't create jobs. It creates a lack of savings, debt and poverty.

Innovation, invention, production, factories, manufacturing and advertising create the jobs.

tatupu70 says

Demand creates jobs.

Demand entices a capitalist to start a business for that demand. The business then hires.

You need money for business. Usually people with money own businesses. Therefore rich people hire mostly.

tatupu70 says

Well, where are they??

When you create labor unions... That's what you get. Capitalists and barons are not going to put with bullshit demands of employee benefits and the never-ending list of entitlements.

I personally can care less about outsourcing. I support it. Their is nothing illegal or unconstitutional about it.

You whining sheeple need to grow up out of your narcissism to think you aren't easily replaceable.

If a company hired you for 20 years and then fired you... So what? They agreed to pay you as they wish when they need you and that's it. They never agreed to marry you forever...

tatupu70 says

That is one method for reducing income inequality.

Income equality will only be possible with communism. There can NEVER be income equality in a free fair capitalist market because you will always have some lazy deadbeat piece of fuck who refuses to put in any type of work...

This concept can only be supported by someone that is dumb.

Study the 80/20 rule.

Throughout ALL of human history... 20% will always own 80% of wealth. This has been the case in every single type of system and government.

tatupu70 says

The current income disparity is the #1 problem with our economy right now IMO

I think more a lack of fairness is the problem. I will agree with you that they are people who earn a lot less than they should...

But I completely disagree that income equality would ever happen because not everyone DESERVES and EARNS the same income.

Some people make $1 million because they EARNED it and others make $30K because that's ONLY what they EARNED.

tatupu70 says

You have been fed right wing propaganda

Communism isn't too great either.

tatupu70 says

Wrong. We are talking about changing the tax code and making it more progressive.

NO, YOU ARE WRONG! Period!!!!

That's called raising the taxes on people with higher income. Not only is that increasing taxes but that's creating income inequality by taking more from people just because they make more money... The very thing you disdain.

That's discrimination based on income, exploiting people and punishing hard work. Hard work being punished and laziness being rewarded is a perfect recipe for income inequality.

http://www.investopedia.com/terms/p/progressivetax.asp

Read that link and stop being such a stupid damn idiot. Epic fail...

It's so obvious that you have a passion of jealousy for people who have stuff that you don't.