Senate Blocks Buffett Rule 30% Tax Floor on Top Earners.

[Fish]

http://www.bloomberg.com/news/2012-0...p-earners.html

[yubba]

Originally Posted by Fish

http://www.bloomberg.com/news/2012-0...p-earners.html

well if we re- elect Obama, we'll all look like the guy with his thumbs in his pockets, and all of Obama's buddies will look like the guy on the right, a bag full of money and hookers for everybody, all in the name of redistrabution of wealth. I haven't heard one word from the Dems how they are going to limit spending or down size government, and even when they will pass a budget, government needs to it's fair share too.

[gimpy117]

And I never really heard one word from the Republicans about how they were going to reduce the spending and size of government when they made a new agency and championed 2 wars abroad either.

IMO the tax code that allows the uber rich to skate by paying so little is no accident and is shameful.

[August]

Originally Posted by Fish

http://www.bloomberg.com/news/2012-0...p-earners.html

The US Senate is controlled by the Democrats. If they can't get it passed it's not the Republicans fault.

[Skybird]

42% of House and 67% of Senate are millionaires. So where is the surprise?

http://www.politifact.com/truth-o-me...oportionate-s/

A reader recently sent us an example from Facebook, which was an online message credited to Occupy D.C. The posting says:
"1 percent of Americans are millionaires."
"47 percent of House Reps. are millionaires."
"56 percent of Senators are millionaires."
(...)
As for members of Congress, the most recent estimate shows that 42 percent of House members and 67 percent of senators are millionaires in net worth. That means the Facebook post is a bit high in its estimate of House millionaires and a bit low in its estimate of Senate millionaires.
The numbers support the underlying point of the Facebook post -- that members of Congress are disproportionately wealthy. But not on the scale suggested. We rate the Facebook post Half True.

[yubba]

Originally Posted by gimpy117

And I never really heard one word from the Republicans about how they were going to reduce the spending and size of government when they made a new agency and championed 2 wars abroad either.

IMO the tax code that allows the uber rich to skate by paying so little is no accident and is shameful.

Well vote for Obama, since you hate the rich so much, republican progressives are just as bad as the liberal dems, so tell Yubba how tax-ing the rich is going to get us out of this jam when general electric hasn't paid any taxes.. I guess you are ok with the government giving a billion dollars to the muslim brotherhood in Egypt. Oh by the way Warren Buffet owes a billion dollars in back taxes and is fighting the irs, not to pay, Hippo Critters.

[Ducimus]

Whole thing kinda reinforces the belief that we have the best government money can buy.

[nikimcbee]

But Yubba, how will the GSA have their parties? And US hookers are too expensive, so our SS agents need to buy cheap foreign labo(u)r.

Stop being a h8tr Yubba and pay up, so our agents can buy US hookers.

It's for the children.

Don't make me get Sally Struthers in here to shake you down Yubba.

[yubba]

I think some of these government hippies types need to get a haircut and get a real job, not one watt of power produced at the Dept of Energy, not one plant grown at the Dept of Agurculture, no work ever produced at the Dept of Labor, and you know there's no justice at the Dept of Justice, heck I can't afford a beer let alone hookers, these government types sure know how to live, and they have the nerve to bitch about paying in 3% into their retirement. Nikimcbee shouldn't you be workin on that pt mod, I sent Privateer that file on the Pt 109 it's all in your hands now.

[Tchocky]

Originally Posted by yubba

I think some of these government hippies types need to get a haircut and get a real job, not one watt of power produced at the Dept of Energy, not one plant grown at the Dept of Agurculture, no work ever produced at the Dept of Labor, and you know there's no justice at the Dept of Justice,

Tell me about it! Executive branch isn't even executing nobody no more.

Sad times. Andrew Jackson wouldn't have stood for this. Pistols at dawn could do with a comeback.

[CaptainHaplo]

The top 10% of earners pay over 70% of the total taxes collected....

Almost 50% of the population pays no taxes....

Where is the fairness again?

Oh - and the "buffet rule" would increase the federal tax income 47 Billion over 10 years (assuming it had no negative effect on the economy). Obama's budget calls for adding a minimum of 6.7 Trillion to the debt over that same time frame (though he has already added 5 Trillion in 3.5 years..) - so his tax hike for "fairness" is going to pay for all of 0.1% of his spending.

This is the most ludicrous thing I have seen - well - other than him presenting a budget and then telling his own party to vote against it!

[yubba]

And the grand jewel of the government is the Dept of Education where our kids come out, as dumb as a bag of hammers, where 2 and 2 is 22 ,,where american history is a myth, it's a wonder that they can tie their own shoes, a Dept that has hire lunch bag inspectors, and promotes no hugging, but promotes the gay lifestyle, so if 2 and 2 is 22, I guess we deserve being, 16 trillion dollars dept .

[mookiemookie]

Originally Posted by CaptainHaplo

The top 10% of earners pay over 70% of the total taxes collected....

Almost 50% of the population pays no taxes....

Where is the fairness again?

In 2007 the richest 1% of the American population owned 34.6% of the country's total wealth, and the next 19% owned 50.5%. Thus, the top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%.

So yes, where is the fairness? Why did 93% of new wealth created in 2010 go to the top 1% of earners? You're damn right they need to pay the lions share of the taxes.

[August]

Originally Posted by mookiemookie

In 2007 the richest 1% of the American population owned 34.6% of the country's total wealth, and the next 19% owned 50.5%. Thus, the top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%.

Maybe it's my conservative leanings but I don't see anything inherently unjust about the richest 20% owning 85% of the nations wealth. That is after all what defines them as rich.

So yes, where is the fairness? Why did 93% of new wealth created in 2010 go to the top 1% of earners? You're damn right they need to pay the lions share of the taxes.

They already do pay the lions share of the taxes but apparently that's still not enough, I wonder what, if anything, would be enough.

[mookiemookie]

Growing wealth inequality has historically led to the downfall of nations. Whatever happened to a rising tide lifting all boats?