Rich entitled brats should stop whining and pay more taxes
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Ivan
oftenwrong
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:: The Heavy Stuff :: USA Economics
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Rich entitled brats should stop whining and pay more taxes
by ROB Wed Oct 26, 2011 9:14 am
Why the rich should pay more taxes
Opinion: One economist argues that the rich can afford to pay more in taxes, without harming the economy.
America sacrificed equity for the false promise of efficiency and growth, and society is now more unequal than at any time since the early part of the last century.
Full story: http://money.msn.com/investing/why-us-should-spread-the-wealth-fiscaltimes.aspx?GT1=33002
ROB- Guest
Re: Rich entitled brats should stop whining and pay more taxes
by oftenwrong Wed Oct 26, 2011 5:32 pm
ROB is right about REBs
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Re: Rich entitled brats should stop whining and pay more taxes
by Ivan Tue Jan 03, 2012 11:52 pm
Does anyone understand debt? Paul Krugman argues that they don't:-
"Deficit-worriers portray a future in which we’re impoverished by the need to pay back money we’ve been borrowing. They see America as being like a family that took out too large a mortgage, and will have a hard time making the monthly payments.
This is, however, a really bad analogy in at least two ways. First, families have to pay back their debt. Governments don’t - all they need to do is ensure that debt grows more slowly than their tax base. The debt from World War II was never repaid; it just became increasingly irrelevant as the U.S. economy grew, and with it the income subject to taxation. Second - and this is the point almost nobody seems to get - an over-borrowed family owes money to someone else; U.S. debt is, to a large extent, money we owe to ourselves.
Nations with stable, responsible governments - that is, governments that are willing to impose modestly higher taxes when the situation warrants it - have historically been able to live with much higher levels of debt than today’s conventional wisdom would lead you to believe. Britain, in particular, has had debt exceeding 100% of GDP for 81 of the last 170 years. When Keynes was writing about the need to spend your way out of a depression, Britain was deeper in debt than any advanced nation today, with the exception of Japan.
So yes, debt matters. But right now, other things matter more. We need more, not less, government spending to get us out of our unemployment trap. And the wrongheaded, ill-informed obsession with debt is standing in the way."
For the full article:-
http://www.nytimes.com/2012/01/02/opinion/krugman-nobody-understands-debt.html?_r=1&src=tp
"Deficit-worriers portray a future in which we’re impoverished by the need to pay back money we’ve been borrowing. They see America as being like a family that took out too large a mortgage, and will have a hard time making the monthly payments.
This is, however, a really bad analogy in at least two ways. First, families have to pay back their debt. Governments don’t - all they need to do is ensure that debt grows more slowly than their tax base. The debt from World War II was never repaid; it just became increasingly irrelevant as the U.S. economy grew, and with it the income subject to taxation. Second - and this is the point almost nobody seems to get - an over-borrowed family owes money to someone else; U.S. debt is, to a large extent, money we owe to ourselves.
Nations with stable, responsible governments - that is, governments that are willing to impose modestly higher taxes when the situation warrants it - have historically been able to live with much higher levels of debt than today’s conventional wisdom would lead you to believe. Britain, in particular, has had debt exceeding 100% of GDP for 81 of the last 170 years. When Keynes was writing about the need to spend your way out of a depression, Britain was deeper in debt than any advanced nation today, with the exception of Japan.
So yes, debt matters. But right now, other things matter more. We need more, not less, government spending to get us out of our unemployment trap. And the wrongheaded, ill-informed obsession with debt is standing in the way."
For the full article:-
http://www.nytimes.com/2012/01/02/opinion/krugman-nobody-understands-debt.html?_r=1&src=tp
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Re: Rich entitled brats should stop whining and pay more taxes
by ROB Wed Jan 04, 2012 5:52 am
A rebellious-by-nature friend asked a question: What would the Chinese government do if the US government, when presented with China’s IOUs, took all of that paper out unto the Mall, lit it, and held a bonfire for D.C. kids, complete with roasted hot dogs, marshmallows, and hot chocolate?
ROB- Guest
Re: Rich entitled brats should stop whining and pay more taxes
by oftenwrong Wed Jan 04, 2012 10:19 am
The reason it's called THE AMERICAN DREAM is because that's all it ever will be for 90% of the population there.
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Re: Rich entitled brats should stop whining and pay more taxes
by ROB Wed Jan 04, 2012 10:33 am
oftenwrong wrote:
The reason it's called THE AMERICAN DREAM is because that's all it ever will be for 90% of the population there.
I'm of the 10%. Fancy that. I never knew that I was norn with a silver spoon in my mouth. Pardon me while I extract another splinter from my tongue.
ROB- Guest
Re: Rich entitled brats should stop whining and pay more taxes
by Stox 16 Thu Mar 01, 2012 4:45 am
RockOnBrother wrote:oftenwrong wrote:
The reason it's called THE AMERICAN DREAM is because that's all it ever will be for 90% of the population there.
I'm of the 10%. Fancy that. I never knew that I was norn with a silver spoon in my mouth. Pardon me while I extract another splinter from my tongue.
Rock
most people over here only have one big dream,...its called winning the Euro millions ha ha
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Re: Rich entitled brats should stop whining and pay more taxes
by trevorw2539 Thu Mar 01, 2012 4:57 pm
most people over here only have one big dream,...its called winning the Euro millions ha ha .
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It's not a dream. It's a nightmare! Fancy having to worry what to do with all that money. Probably drive me mad. Still I'm willing to take the chance
Stox 16
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It's not a dream. It's a nightmare! Fancy having to worry what to do with all that money. Probably drive me mad. Still I'm willing to take the chance
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Re: Rich entitled brats should stop whining and pay more taxes
by oftenwrong Thu Mar 01, 2012 5:24 pm
Curious how so many foreigners believe that the simple act of arriving in the UK is not dissimilar from winning the Euro Millions.
What do they know that we don't?
What do they know that we don't?
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Re: Rich entitled brats should stop whining and pay more taxes
by ROB Sun May 13, 2012 3:47 am
Stox 16 wrote:
Rock
most people over here only have one big dream,...its called winning the Euro millions ha ha
Stox,
The most-frequented business establishment on my daily rounds is a convenience store I’ll call “Hit It & Quit It”, where I can refill a forty-four ounce cup with Diet Mountain Dew for ninety-six cents, including tax.
Whenever the lotto exceeds $20,000,000, I discipline myself to forego the forty-four ounce Diet Dew, add four cents, and pay one dollar for a “Quick Pick.” That’s for both the state lotto and “Powerball”, a multi-state lotto that sometimes has jackpots exceeding $200,000,000, two hundred million smackeroos.
I’ve won six dollars. In twenty years. So far.
It’s “Dream On Brother” for me.
ROB- Guest
Re: Rich entitled brats should stop whining and pay more taxes
by oftenwrong Sun May 13, 2012 10:35 pm
Bread and circusses! For three thousand years, every Nation's Leaders have understood the need for an outlet for the ambitions of the proletariate.
Accordingly there are fantastic rewards on offer for being a successful Sportsman, Entertainer or Lottery winner, pour encourager les autres.
Accordingly there are fantastic rewards on offer for being a successful Sportsman, Entertainer or Lottery winner, pour encourager les autres.
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Re: Rich entitled brats should stop whining and pay more taxes
by Ivan Tue Mar 31, 2015 12:12 am
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Re: Rich entitled brats should stop whining and pay more taxes
by boatlady Tue Mar 31, 2015 8:15 am
We could do with Elizabeth Warren in the Labour party - she puts the case very well for increased taxation of the rich
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Re: Rich entitled brats should stop whining and pay more taxes
by stuart torr Fri Apr 24, 2015 7:22 pm
Make her Chancellor would be a good idea I believe boatlady.
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