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alum93

The filthy rich

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4 minutes ago, soupslam1 said:

It should be noted we are collecting more taxes right now than anytime in our history, which tells me we have a spending problem. 

True but, our tax collections move based upon economic performance, upticks, downticks, the world economy, etc.

We need to do both.  At least until we move our debt and deficits to acceptable levels.

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Emotional bullshit, devoid of reasoning and facts.

 

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44 minutes ago, soupslam1 said:

Considering the wealthy, you may want to read about the Giving Pledge program. They aren’t the greedy assholes many make them out to be. 

https://www.cnbc.com/2017/05/31/14-billionaires-signed-bill-gates-and-warren-buffetts-giving-pledge.html

Yeah, I was going to take exception to the wording of the OP too.  Filthy wasn't necessary.

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37 minutes ago, pokebball said:

Yeah, I was going to take exception to the wording of the OP too.  Filthy wasn't necessary.

Mind boggling rich?  

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The discussion should not be about taking away from those that the system rewarded or awarded, but if the system would be healthier with more wealth in the hands of more people, rather than having such a large percentage of it in the hands of a few.

 

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6 minutes ago, toonkee said:

The discussion should not be about taking away from those that the system rewarded or awarded, but if the system would be healthier with more wealth in the hands of more people, rather than having such a large percentage of it in the hands of a few.

 

I think it's extremely disingenuous to not use the word "earned".   "Award" and "Reward" suggest incomes were unearned and I know better.

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People should also understand that a lot of wealthy people took huge financial risks to become wealthy. And there are some that took risks that bankrupted them. There aren’t many people out there that are willing to take those kind of risks. Those that do and succeed should be rewarded. 

Even starting a small business is very risky. The bankruptcy rate is very high, over half in the first five years per the SBA.

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1 hour ago, toonkee said:

The discussion should not be about taking away from those that the system rewarded or awarded, but if the system would be healthier with more wealth in the hands of more people, rather than having such a large percentage of it in the hands of a few.

 

True, but that’s not how things usually pan out. Microsoft is a prime example. Gates provided products that millions of people wanted and benefitted from and at an affordable price. A good idea or product that is wanted by millions is going to generate huge sums of money usually to one or a few individuals. 

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2 hours ago, alum93 said:

Indeed, why not both.  Let's ask the president and the party that just had the Senate and House on why they didn't cut spending but found a way to cut taxes for the rich.

 

We collected MORE federal income tax revenue this year after the tax cuts. You don't understand how taxes work.

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3 hours ago, Rebelbacker said:

 

We collected MORE federal income tax revenue this year after the tax cuts. You don't understand how taxes work.

 

The real question is how much would we have collected this year if the cut had not been made, and that's tricky to answer.

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Rich people piss me off as much as the next guy.

But if they take 100 million away from Bill Gates, None of that is coming to me.  Zero.  Zip.  Nada.  Not one red cent.

So, I don't freaking care how much money rich people have.

 

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The problem with raising taxes for the rich or anyone else for that matter is the politicians just spend more money. I would have no problem paying more taxes if it was allocated to paying down the debt. 

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9 hours ago, alum93 said:

I don't see the comparison at all.  Most Americans live paycheck to paycheck and are in debt.  Your example is well there are poorer people overseas so the average American should just give money to them.  Whether it's the top  0.1%, or just top billionaires, we are talking about an amount of wealth that is so obscene that losing tens of millions would just be a number on a piece of paper.  Anyhow, here's some numbers regarding living paycheck to paycheck.  

https://www.forbes.com/sites/zackfriedman/2019/01/11/live-paycheck-to-paycheck-government-shutdown/#a90cec24f10b

https://www.usnews.com/news/the-report/articles/2019-01-11/stretched-thin-majority-of-americans-live-paycheck-to-paycheck

https://www.theguardian.com/commentisfree/2018/jul/29/us-economy-workers-paycheck-robert-reich

They live paycheck to paycheck and are in debt because they are +++++ing stupid.   Why should they get rewarded for that more than they already do.   Most of those pay no income tax, many get money back above what they paid.  The rich pay all the taxes as it is.  The poor get all the same service as the rich and more.  The rich don't get grants to go to school, they don't get free cheese or healthcare.  There kids don't get free lunches.  Hell the poor have it great and you complain.

Your whole premise is just stupid class jealousy.

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19 hours ago, alum93 said:

Mind boggling rich?  

Bill Gates and his friend created a business that pays massive taxes, sales taxes, import taxes, corporate taxes, property taxes, employee taxes, social security taxes and probably at least 100 more different taxes.

Microsoft business employes 135,000 people in the U.S. which probably supports more than several million people when you consider every microsoft job probably creates 3-5 more in the area.

All the poor in this country pay zero taxes, create no jobs and get all the same public services Bill Gates does and more.

Who do you think is filthy lucky?  It sure isn't Bill Gates he is a sponge that assholes like you suck on for anything you can get.

Without Bill Gates millions of jobs wouldn't exist and millions if not billions of tax revenue wouldn't be paid.   The poor you are whining about would have it far worse off.

.Not only that the filthy rich trust fund kid is a more productive member of society than all the poor combined.  His capital investment does more for society than all the poor can do combined.

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Bottom line, we already take care of the poor. Government spending needs to be reduced, and if you're not happy with your lot in life, do something about it or quiturbitchen.

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23 hours ago, alum93 said:

The recommendations make sense.  

The combined fortunes of the world's 26 richest individuals reached $1.4 trillion last year — the same amount as the total wealth of the 3.8 billion poorest people.

Most of these mega-wealthy are American, according to the Forbes list of billionaires used by Oxfam. The names include Amazon's Jeff Bezos, Microsoft's Bill Gates, Berkshire Hathaway's Warren Buffett and Facebook's Mark Zuckerberg, who collectively are worth $357 billion, according to Forbes.
 
Oxfam recommends that nations tax wealth at fairer levels, raise rates on personal income and corporate taxes and eliminate tax avoidance by companies and the super-rich. It also advocates providing universal free health care, education and other public services — and ensuring that women and girls also benefit. And it suggests investing in public services — including water, electricity and childcare — to free up women's time and limit the number of unpaid hours they work.
 

The recommendations make sense if everyone would behave the same with higher taxes.  Of course, they won't.  Riskier investments that are made today, won't be made under higher taxes.  You will take capital out of the hands of the most efficient allocators and put it in the hands of the least efficient allocators (government).  Inefficient allocation of capital slows down the number of transactions in the economy, which is the driver of income and new wealth.  You can tax/confiscate all of the wealth of Bill Gates and others like him and you won't help anyone.  You will just hamstring the next generation.  The rise of Bill Gates and Jeff Bezos and all of the thousands of jobs they create is a sign things are healthy.  Profitable, productive, and innovative companies float all boats, not higher and higher taxes.

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I aspire to be filthy rich, they are not the enemy.  We have a poor people problem, not a rich people problem.  Our goal should be finding ways to drive costs for essentials down so our low-income populations aren't hurting as much, and perhaps they can find more time to achieve better skills for better jobs.  Burdening the wealthy doesn't aid in that endeavor.

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