New Reason to Raise Taxes on the Rich: ‘Patriotism’

[SUBMAN1]

Originally Posted by Kraut

OMG Obama wants to increase the taxes on the rich to pay for the huge deficit! COMMUNISM!!!!!!!!!! COMMUNISM!!!!!!!!!!!!!!!!!!

Lets go with McCain's plan of destroying medicare in order to eliminate the deficit. Because as Subman just explained it, clearly those middle class bums should have worked harder and spent their money better in order to retire, and cover their medical expenses.

He isn't destroying Medicare. Far from it. Medicare needs to be fixed though before it goes bankrupt, so I am happy if someone is paying attention to it at all even, otherwise it won't exist at all when I am older. It can't continue the way it is and costs need to be cut to make it survive.

On another note - I'm sorry but I don't support bailing out stupidity. That just encourages more of it. Typical that you missed that point because you can't see past here and now. Look to the future and where things are going for once. Might do you some good.

Then again, are you a Euro or an American?

-S

[Platapus]

Originally Posted by SUBMAN1

On another note - I'm sorry but I don't support bailing out stupidity. That just encourages more of it.
-S

I am glad you were not the Captain of the Carpathia with that attitude toward the passengers of the Titanic. "Let the passengers die. If we rescue them this will only encourage Harland and Wolff to build ships with design flaws". That's a pretty harsh attitude.

The Government is not bailing out these companies for the benefit of the CEOs (which I strongly feel should be held financially accountable). The Government is bailing out these companies so innocent citizens and other related businesses won't have their lives ruined.

Please keep in mind that the people being hurt are innocent.

Why punish the employees and stockholders and the rest of the public who will be affected by a poor business choice? Would you rather have to support these thousands of people on welfare while they rebuild what some CEO lost?

Yes the CEOs were stupid/greedy but in American Business models it is the innocent citizen who bears the brunt of the adverse effects. That's who the government is protecting.

The government really can't stand around and see thousands of people have their lives ruined and justify it by saying "we could help you but that would be letting some CEO you never heard of get off. Sorry your kids are hungry. Your sacrifice for capitalism is greatly appreciated."

The tricky part is deciding what company is "worthy" of being bailed out. Clearly the Government can't and should not bail out every failed company. Nor can the other extreme be justified where the government stands by and allows thousands of innocent people's lives be destroyed.

I don't have the answer, but I do feel that either extreme is not right.

[SUBMAN1]

Originally Posted by Platapus

I am glad you were not the Captain of the Carpathia with that attitude toward the passengers of the Titanic. "Let the passengers die. If we rescue them this will only encourage Harland and Wolff to build ships with design flaws". That's a pretty harsh attitude.

The Government is not bailing out these companies for the benefit of the CEOs (which I strongly feel should be held financially accountable). The Government is bailing out these companies so innocent citizens and other related businesses won't have their lives ruined.

Please keep in mind that the people being hurt are innocent.

Why punish the employees and stockholders and the rest of the public who will be affected by a poor business choice? Would you rather have to support these thousands of people on welfare while they rebuild what some CEO lost?

Yes the CEOs were stupid/greedy but in American Business models it is the innocent citizen who bears the brunt of the adverse effects. That's who the government is protecting.

The government really can't stand around and see thousands of people have their lives ruined and justify it by saying "we could help you but that would be letting some CEO you never heard of get off. Sorry your kids are hungry. Your sacrifice for capitalism is greatly appreciated."

The tricky part is deciding what company is "worthy" of being bailed out. Clearly the Government can't and should not bail out every failed company. Nor can the other extreme be justified where the government stands by and allows thousands of innocent people's lives be destroyed.

I don't have the answer, but I do feel that either extreme is not right.

Bad example man, or maybe my statement above is too general. I should say, "Bail people out of their 'own' stupidity". If people are in a situation due to no fault of their own, that is one thing, but when they made the bed themselves, then in my opinion you have to lie in that bed now.

-S

[Frame57]

The government does not bail out anyone. Every penny they spend is ours, it is not like the government just showed up with a huge wallet one day. Wasn't over taxation a part of what led us to the American revolution? Sure raising taxes is "patriotic" in that sense...

[Sailor Steve]

Originally Posted by Frame57

Wasn't over taxation a part of what led us to the American revolution?

Not exactly, but probably close enough. They recognized that taxation was necessary to pay for the recent 'French and Indian War', but objected to the idea that Parliament was taxing them without consulting them. The general consensus was that if the British Government had put it to the individual Colonial Assemblies that they should make taxes to pay for the war, they would have agreed. The only thing the colonies asked for in return at first was a seat in the Parliament for each colony; hence "No taxation without representation".

I agree with your premise though. I have often voiced the opinion that the first requirement for anyone in a position to make taxes should be that they show they believe in the concept that all taxes are a necessary evil, nothing more. Anyone who likes the government shouldn't be a part of it.

I personally stand for a repeal of the 16th Amendment altogether.