Buffett - Stop coddling the super-rich

marionbarberthe4th

marionbarberthe4th

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What is the reasoning to give back more money to the rich? Is there fear that they will take their money and move? Are they really complaining that the man is keeping them down?
 
VA Cowboy

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usernamethe4th said:
What is the reasoning to give back more money to the rich? Is there fear that they will take their money and move? Are they really complaining that the man is keeping them down?
Keep reading...

Give back more money?? Uh, it's their money to begin with. What's the reasoning of penalizing those who are successful?

Oh yeah, socialism.
 
marionbarberthe4th

marionbarberthe4th

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The VA Cowboy said:
I don't see anyone arguing against doing away with all taxes, but yeah, I have a gun or two so if someone wants to rob me they better come extra prepared.
Keep reading...

A flat Tax would be a broken system.

I for one like America. And if the rich don't like their millions getting taxed they are free to find somewhere else to live.
 
lons

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superpunk said:
Welfare only accounts for 2% of our total budget. The percentage of our budget which goes toward people who are defrauding the welfare system accounts for even less than that. Obviously we can't know exactly, but again it is an incredibly small percentage. Not even worth thinking about in the grand scheme of things, but it makes a convenient talking point for politicians to talk about when it comes to balancing the budget (i.e. welfare reform) because everyone hates poor people, and everyone REALLY hates poor people who are gaming the system.

But it's classic misdirection. If the politicians can drive you crazy with talk about welfare reform, and make you think that is a real issue, then they don't have to answer questions about all the money they're wasting on defense and maintaining America's empire and giving outrageous tax breaks to the rich.

Should we do something about it? Sure. Every little bit helps. But it's not going to make any significant difference in our budget.
Keep reading...


Welfare accounts for 11% of our total budget. To put this into perspective. The evil defense budget everyone hates on is 16% It is a HUGE amount of money and trying to play it off as not is insane. Hell Federal Pensions are the same per year as the defense budget... People living on the US tax payer dole before we even go into the "free health care" part dwarf anything and everything else in the budget when you combine them or Hell, even separately they are more than the rest of the fucking world pays out for their entire populace...

If our defense budget is to big because our military spends more per year than all the other countries combined, what does that say about our fucking welfare system?

Oh and here is where I got my info since everyone here just likes to spew shit likes it is a fact without anything to back it up. I'll start.

http://www.usgovernmentspending.com/united_states_total_spending_pie_chart
 
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VA Cowboy

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usernamethe4th said:
A flat Tax would be a broken system.

I for one like America. And if the rich don't like their millions getting taxed they are free to find somewhere else to live.
Keep reading...

Did this make sense to you when you typed it?

A flat tax would be a fair system. And as far as I know, the rich as well as the middle class get their incomes taxed. I agree if people don't want to be taxed then they should find somewhere else to live. But, that's not the issue here. Not only does most who earn an income get taxed, but we currently also have a progressive tax system.

So not really sure what all the jibberish is about the rich not wanting to get taxed. The issue is a fair system vs. a Robin Hood "steal from the rich to give to the poor" system.
 
lons

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The VA Cowboy said:
Did this make sense to you when you typed it?

A flat tax would be a fair system. And as far as I know, the rich as well as the middle class get their incomes taxed. I agree if people don't want to be taxed then they should find somewhere else to live. But, that's not the issue here. Not only does most who earn an income get taxed, but we currently also have a progressive tax system.

So not really sure what all the jibberish is about the rich not wanting to get taxed. The issue is a fair system vs. a Robin Hood "steal from the rich to give to the poor" system.
Keep reading...


People that hate the flat tax system will always hate it because the rich don't pay as much for things or don't have to go out shopping as much and therefore spend less of their income on sales taxes etc.
 
VA Cowboy

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lons said:
People that hate the flat tax system will always hate it because the rich don't pay as much for things or don't have to go out shopping as much and therefore spend less of their income on sales taxes etc.
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Huh? I'd say those who have more money buy more things and more expensive things and therefore pay more sales tax.
 
lons

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The VA Cowboy said:
Huh? I'd say those who have more money buy more things and more expensive things and therefore pay more sales tax.
Keep reading...


I'm just telling you, WHY folks are against it. They have no issue with a flat tax until you start saying everyone has to pay it. Then it's all on the Rich again. Hilarious!
 
Cythim

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The VA Cowboy said:
We needz to make teh wealthy pay their fair sharez!!!1!!!!1111!!!!

In 2006, the bottom 50 percent of all income tax filers paid only 2.99 percent of all income taxes. *


So...I guess that means the top 50 percent paid 97.01 of all income taxes. We dang, we need to tax them more!!!!!!!

* http://www.taxfoundation.org/news/show/250.html
Keep reading...

The bottom 50% had an average AIG of $15K. If you ask them to pay an extra 5% you will have earned $54 billion dollars. Ask the top 1% to pay an extra 5% and you will have earned $84 billion.

I will demonstrate more in a moment.
 
Cythim

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lons said:
People that hate the flat tax system will always hate it because the rich don't pay as much for things or don't have to go out shopping as much and therefore spend less of their income on sales taxes etc.
Keep reading...

You are confusing the Flat tax with the Fair tax. Flat = everyone pays the same percent of income. Fair = national sales tax.
 
Cythim

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The VA Cowboy said:
Did this make sense to you when you typed it?

A flat tax would be a fair system. And as far as I know, the rich as well as the middle class get their incomes taxed. I agree if people don't want to be taxed then they should find somewhere else to live. But, that's not the issue here. Not only does most who earn an income get taxed, but we currently also have a progressive tax system.

So not really sure what all the jibberish is about the rich not wanting to get taxed. The issue is a fair system vs. a Robin Hood "steal from the rich to give to the poor" system.
Keep reading...

Currently the top 1% pays at a 23% rate while the bottom 50% pays at a 2.6% rate. That is, the average AIG for the top 1% is $1.2 million while paying $280k in income tax while the bottom 50% has an average AIG of $15k and pays $400 in income tax. Under a fair tax those numbers would change to $1.2 million earned and $147k paid (nearly a 50% reduction) for the top 1% and $15k earned and $2k paid (a 500% increase) for the bottom 50%. This is assuming the average tax rate of 12.24% remains the same.

Perhaps you have a little bit of a heart and are willing to let the first $10k earned go untaxed. Now the top 1% is paying $175k (still a 37.5% reduction) while the bottom 50% is paying $800, or double their current amount.

The group that gets hosed in both of these situations is anyone making below $160k, or the bottom 95% of the country. The top 5% gets a break while the bottom 95% will pay more in taxes. If you want to pretend to be fair by putting everyone at the tax rate of the top 5% then you will be asking those who make $15k a year to pay $3k in taxes, or a 7 fold increase in their current tax payment.
 
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