"I actually believe in redistribution"

Discussion in 'Free Speech Alley' started by LSUpride123, Sep 24, 2012.

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  1. LSUsupaFan

    LSUsupaFan Founding Member

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    Have you paid any attention to their playbook this election cycle? The rich keep getting richer and it as at the expense of the poor and middle class. If a rich guy's wealth increases by 10% that means a poor guys wealth has to decrease by 10%.
     
    LSUsupaFan, Sep 25, 2012
    #41
  2. Atreus21

    Atreus21 Founding Member

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    Then perhaps the hour is later than we think.
     
    Atreus21, Sep 25, 2012
    #42
  3. Tiger in NC

    Tiger in NC There's a sucker born everyday...

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    oh really? where are those jobs? I think what you meant to say was that the wealthy put it into the Cayman Islands and Switzerland and now wan to blame everyone else for the economic woes in the country. Your scam is up.....
     
    Tiger in NC, Sep 25, 2012
    #43
  4. red55

    red55 curmudgeon Staff Member

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    A recent study by the bipartisan Congressional Budget Office confirms that the 2001 and 2003 Bush tax cuts have disproportionately benefited the wealthiest households. The tax cuts have boosted the aftertax incomes of the top 1% of households, with average incomes in excess of $1,000,000, by 10% -- compared with a 2.3% increase for middle-income families with average incomes of $57,000 and a 1.6% increase for the bottom 20% of families, with average incomes of less than $17,000. The tax cuts for millionaires alone have reduced government revenues by $90 billion a year. Bloomberg Business Week

    In 2010, the top 1% of earners (i.e., tax filers making over $645,000) received 38% of the breaks in the 2001-08 tax changes; 55% of the tax breaks went to the top 10% of earners (those making over $170,000). The top 0.1% of earners (i.e., making over $3 million) received an average tax cut of roughly $520,000, more than 450 times larger than the share received by an average middle-income family. Economic Policy Institute
     
    red55, Sep 25, 2012
    #44
  5. Atreus21

    Atreus21 Founding Member

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    Okay. Everybody's income went up by some percentage. Wealthier people's went up more as a percentage. How does that equal redistribution?

    Furthermore, if taxes are intended to be progressive, shouldn't tax cuts be equally progressive?
     
    Atreus21, Sep 25, 2012
    #45
  6. LSUsupaFan

    LSUsupaFan Founding Member

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    So because the tax rate was more favorable more capital gains were realized. This isn't exactly news.
     
    LSUsupaFan, Sep 25, 2012
    #46
  7. red55

    red55 curmudgeon Staff Member

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    If tax expenditures that benefit the poor are wealth redistribution, then tax cuts that benefit the rich are also wealth redistribution. When the gap widens, it ain't hard to tell where the money is going.

    That would be counter-productive to the original progressive levels. Income is income. Wealthy people who earn most of their from dividends, interest, and capital gains should be taxed at the same rates as those who earn income from business or salaries.

    I know, but he asked why.
     
    red55, Sep 25, 2012
    #47
  8. Atreus21

    Atreus21 Founding Member

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    Tax expenditures involve forcibly taking from one to distribute to another. Tax cuts involve neither taking nor distributing.
     
    Atreus21, Sep 25, 2012
    #48
  9. LSUpride123

    LSUpride123 PureBlood

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    It proves nothing.


    You don't have a single shred of evidence that supports the claim that Rich people do not create jobs, but rather poor people do.


    Pony up friend.
     
    LSUpride123, Sep 25, 2012
    #49
  10. LSUpride123

    LSUpride123 PureBlood

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    Where is your evidence?
     
    LSUpride123, Sep 25, 2012
    #50
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