What caused the income inequality gap that started in the 70's?

Discussion in 'Free Speech Alley' started by LSUpride123, May 30, 2015.

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  1. red55

    red55 curmudgeon Staff Member

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    The deficit affects a great many things. It doesn't affect the tax codes.
     
    red55, Jun 1, 2015
    #51
  2. red55

    red55 curmudgeon Staff Member

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    No I don't. You just imagine this. I've spoken very clearly, but you just don't want to hear.

    You be blind.

    When have you heard me talk about "redistribution"? Don't make shit up. I'm talking about a broken tax code and class conflict.

    Still kissing Massa's ass, I see.

    WTF are you talking about now?

    I'm saying exactly the opposite but it seems that you missed that. I'm saying that the money you and I make gives us more in common with the 25K that poor people make than it does those making a $million a year or more.

    You just keep missing the point. Nobody is talking about giving you any money or taking any money from you or anybody else. We're talking about something else entirely . . . the class conflict which exists due to competing socioeconomic interests between wealthy elites and the common citizen.

    Just forget it. Have another beer.
     
    red55, Jun 1, 2015
    #52
  3. shane0911

    shane0911 Helping lost idiots find their village

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    If they tax these rich folk, what do you think happens with that money?
     
    shane0911, Jun 1, 2015
    #53
  4. dudley

    dudley oops!

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    You're right. Salaried people do invest, through mostly mutual funds, 401k plans but also individual stocks and they get the same capital gains tax beaks that everyone gets. If they do it wisely over time they can amass huge amounts of money themselves.

    What are they going to do with that money? Maybe park it, but more likely take it overseas to countries with favorable tax treatment.. Good for those countries, bad for the USA.

    Stifle investment and you stifle job growth and that's not good especially for salaried people.

    You are arguing for the right thing in the wrong way.
     
    dudley, Jun 1, 2015
    #54
  5. red55

    red55 curmudgeon Staff Member

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    Do you think it is all redistributed straight to lazy poor people? It goes to fund everything, paying down tirk's beloved deficit, your army pension, my national parks, the interstate highways, the GPS satellites, the Internet, NASA, the FBI, the waterways, advanced science research, environmental protection, etc, etc.
     
    red55, Jun 1, 2015
    #55
  6. dudley

    dudley oops!

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    Actually the capital gains tax rate for assets held over 1 year is 20 % with i think 1.5% added on if it's over $150,000. Gains for assets held under year is taxed as ordinary income.
     
    dudley, Jun 1, 2015
    #56
  7. red55

    red55 curmudgeon Staff Member

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    I know. The point is that the tax break comes on 10% of a working man's income and on 90% of the income of the idle rich. It's an inherent inequality that favors wealthy investors over middle-class creators and workers who can afford to invest only a small portion of their incomes.

    Neither is stifling creators and workers, which also stifles job growth. I'm talking about a more equitable balance here . . . between interested investors who provide capital for a business and the innovative creators and industrious workers who produce the product. Enhancing profits for the investors at the expense of adequate compensation of the workforce is a major factor in the income-gap inequality situation.

    I am the world's goddamn expert on my opinion, amigo. :D
     
    red55, Jun 1, 2015
    #57
  8. mobius481

    mobius481 Registered Member

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    Yeah, capital gains for the wealthy in a state such as ours is pretty much 30%. It's not some huge brea
    20% + 3.8% medicare surtax + 5% state tax in LA.
     
    mobius481, Jun 1, 2015
    #58
  9. HalloweenRun

    HalloweenRun Founding Member

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    I am stunned this is an issue. Dave Stockman's TRICKLE DOWN ECONOMICS is the great Satan. I have worked with really really rich people. They don't start businesses since they have money, they start business when they have a demand. Sadly, not just anecdotal, but data driven truth!

    Giving the rich money, via the tax code, to create jobs is laughable. They just got richer. Meanwhile, the shifting tax burden to the middle class (someone had to step up) drove down disposable income and thus, lowered standards of living for the VAST MAJORITY.

    Meanwhile, the poor continue to breed like mink, and vote themselves more and more benefits, again, paid for by the ever shrinking working class.

    In this debacle there is blame all around.
     
    HalloweenRun, Jun 3, 2015
    #59
    LSUDad and red55 like this.
  10. LSUsupaFan

    LSUsupaFan Founding Member

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    LSUsupaFan, Jun 3, 2015
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