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Wealth Tax
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Government & Elections
Wealth Tax
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A left wing professor at NYU has been pitching the idea of a wealth tax to replace the income tax. His rationale to support a tax on wealth is that wealth in the U.S. is even more unequally dis
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Cat:d51398b3-89f9-463d-bf1b-4b885f02c9eeForum:af978875-5bc6-4b07-a6fb-b18062132f95
Cat:d51398b3-89f9-463d-bf1b-4b885f02c9eeForum:af978875-5bc6-4b07-a6fb-b18062132f95Discussion:0854abca-a933-497e-9146-c5fe187b10b4
Forums » Politics & Society » Government & Elections » Wealth Tax
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Re: Wealth Tax
posted at November 29, 2012 8:38 PM EST
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Posts: 1923
First: November 27, 2011 Last: May 18, 2013 |
In Response to Re: Wealth Tax: Well Gail, as my mother used to say " You call them your friends? I would say yeah they are my friends. She would say do they laugh with you? I would say yes. She would say do they cry with you? I would say no. She would say well they are probably not friends. I feel the same way about the rich. If they are not willing to cry with the rest of the country "let them go some where else. All they are is what my mother called fair weather friends. In Response to Re: Wealth Tax : Posted by creppelrm Let's look at our own middle class society. When the housing market failed in many middle income neighborhoods, some people lost their homes because they could not pay however there were many that bailed because they could pay but just didn't want to stay and help preserve those neighborhoods. Now those neighborhoods are wastelands So much for that sharing, friendship and "Kumbaya". We're like any other animal - we protect out own before the rest of the herd. Even when I grew up in the rural south, I didn't see much hate around me cause economically we were all the same regardless of color - I see, hear and feel much more hate today involving class differences than I ever did back then. SAD ! |
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Re: Wealth Tax
posted at November 29, 2012 10:23 PM EST
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Posts: 535
First: August 9, 2011 Last: May 24, 2013 |
Evidently and thank God for it, your views are not shared by our military where medics have always risked their lives to save wounded. Where you don't fight for your country but for the people in your unit. As I told you before civilians risk their lives every day to save people they don't know who are drowning in a fire or other disasters. I feel people in general are still as they were years ago. There is good out there. But don't blame the middle class because of greed of Freddie Mac and Fannie Mae. Who gave anyone a loan regardless of their financial situation. It was a scheme to make money not honest lending for the purchase of a home. There's a lady I know who worked for one of these institutions who was told to give loans to people she knew would eventually fail. Of course the loan was sold before it failed. It's those type of institutions who are eroding our society not the common citizen but cause the common citizen to do things they other wise wouldn't. There are good rich also Warren Buffet is a patriot. But don't put the In Response o In Response to Re: Wealth Tax : Let's look at our own middle class society. When the housing market failed in many middle income neighborhoods, some people lost their homes because they could not pay however there were many that bailed because they could pay but just didn't want to stay and help presnerve those neighborhoods. Now those neighborhoods are wastelands So much for that sharing, friendship and "eKumbaya". We're like any other animal - we protect out own before the rest of the herd. Even when I grew up in the rural south, I didn't seeur much hate around me cause economically we were all the same regardless of color - I see, hear and feel much more hate today involving class differences than I ever did back then. SAD !re Posted by GailL1 |
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Re: Wealth Tax
posted at November 29, 2012 10:43 PM EST
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Posts: 535
First: August 9, 2011 Last: May 24, 2013 |
Evidently and Thank God for it, our military don't share your views where medics risk their own lives to save a wounded soldier not once but time and time again. Where soldiers fight not for their country but not to let their buddies in their unit down. There are still civilians who will risk their life to save people they don't even know from drowning, car crashes, and fires. Don't blame the middle class for the money making schemes of Freddie Mac and Fannie Mae. Who were looking to make money fast rather than honest loans to honest people to purchase a home. And it was a Greed fueled money making scheme that caused honest middle class people to do unthinkable things they wouldn't normally do. There are good rich also not all are bad. Warren Buffet is the epitome of Capitalism and is an honest true patriot who is willing to part with his wealth for the good of this country. And there are others but also many who only think of themselves and take advantage of our freedoms as long as things are going their way. When the going gets rough they get going. There is no such thing as a self made person here. It is the American people who made the rich. In Response to Re: Wealth Tax: In Response to Re: Wealth Tax : Let's look at our own middle class society. When the housing market failed in many middle income neighborhoods, some people lost their homes because they could not pay however there were many that bailed because they could pay but just didn't want to stay and help preserve those neighborhoods. Now those neighborhoods are wastelands So much for that sharing, friendship and "Kumbaya". We're like any other animal - we protect out own before the rest of the herd. Even when I grew up in the rural south, I didn't see much hate around me cause economically we were all the same regardless of color - I see, hear and feel much more hate today involving class differences than I ever did back then. SAD ! Posted by GailL1 |
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Re: Wealth Tax
posted at November 30, 2012 11:54 AM EST
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Posts: 1923
First: November 27, 2011 Last: May 18, 2013 |
In Response to Re: Wealth Tax: Evidently and Thank God for it, our military don't share your views where medics risk their own lives to save a wounded soldier not once but time and time again. Where soldiers fight not for their country but not to let their buddies in their unit down. There are still civilians who will risk their life to save people they don't even know from drowning, car crashes, and fires. Don't blame the middle class for the money making schemes of Freddie Mac and Fannie Mae. Who were looking to make money fast rather than honest loans to honest people to purchase a home. And it was a Greed fueled money making scheme that caused honest middle class people to do unthinkable things they wouldn't normally do. There are good rich also not all are bad. Warren Buffet is the epitome of Capitalism and is an honest true patriot who is willing to part with his wealth for the good of this country. And there are others but also many who only think of themselves and take advantage of our freedoms as long as things are going their way. When the going gets rough they get going. There is no such thing as a self made person here. It is the American people who made the rich. In Response to Re: Wealth Tax : Posted by creppelrm We were talking about money not kind deeds - they are different. It is also different when the money is going to government rather to something or somebody to which a person wants to contribute. You aren't understanding about those middle class neighborhoods - I'm not talking about the loans, per se but how people who COULD afford to stay just bailed because the values were dropping because of foreclosures. Ever heard of Strategic Defaults? They left, leaving us with new schools, new parks and recreation facilities and many other things that were added because of the expansion. Sure many people had to leave their homes because they could not afford it for whatever reason but others just bailed because their investment potential left. Middle class folks - protecting their assets, they didn't care what happened when they left. Protecting one's assets is a major concern to everybody with any savings or investments. We have a tax code that stands up well to this protection. If the tax code was modified, getting rid of tax expenditures, deductions, credits, and loop holes, it would bring in more revenues - yes, maybe even without a tax hike on anybody - maybe with even a tax rate reduction for the middle class (even lower than it is now). |
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Re: Wealth Tax
posted at November 30, 2012 10:53 PM EST
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Posts: 535
First: August 9, 2011 Last: May 24, 2013 |
We are talking about sacrifices we all have to make that happens to include money to save our country from what could be just as bad as an invasion. The sacrifices may be lives and money during war or money during hard economic times that try us as real Americans. If corporations coward from either one when they took all they could when things were good but want to leave when things are bad they were never a true American to begin with. I understand what you are saying about the middle class walking away from their responsibility, but these lending institutions didn't care who they were lending money to because some where down the line they knew they were going to sell the loans to another lending institution. It was a chain reaction when the lending institutions initiated the sin. In Response to Re: Wealth Tax: In Response to Re: Wealth Tax : We were talking about money not kind deeds - they are different. It is also different when the money is going to government rather to something or somebody to which a person wants to contribute. You aren't understanding about those middle class neighborhoods - I'm not talking about the loans, per se but how people who COULD afford to stay just bailed because the values were dropping because of foreclosures. Ever heard of Strategic Defaults ? They left, leaving us with new schools, new parks and recreation facilities and many other things that were added because of the expansion. Sure many people had to leave their homes because they could not afford it for whatever reason but others just bailed because their investment potential left. Middle class folks - protecting their assets, they didn't care what happened when they left. Protecting one's assets is a major concern to everybody with any savings or investments. We have a tax code that stands up well to this protection. If the tax code was modified, getting rid of tax expenditures, deductions, credits, and loop holes, it would bring in more revenues - yes, maybe even without a tax hike on anybody - maybe with even a tax rate reduction for the middle class (even lower than it is now). Posted by GailL1 |
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Re: Wealth Tax
posted at December 1, 2012 11:00 AM EST
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Posts: 2
First: December 1, 2012 Last: December 13, 2012 |
Warren Buffett, Bill Gates and other billionaires are donating billions to the Gates Foundation. Are they patriots for doing so? I'm not so sure. Their donation is tax deductible. If they want to help the country so much, why don't they donate their billions to the federal government? I have a hypothesis -- they know the government will waste the money and they think they can do a much better job putting the funds to good use. Buffett talks a good game but he's a crafty old guy. If he wanted to pay more taxes he has every opportunity to do so, but he choses not to. He'd rather jawbone to curry favor with Obama. Regarding the wealth tax, it's not so far fetched. Several European countries have already implemented wealth taxes. Socialist-style governments have a unlimited appetite for spending. |
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Re: Wealth Tax
posted at December 1, 2012 7:31 PM EST
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Posts: 535
First: August 9, 2011 Last: May 24, 2013 |
Informed as you are, how's about getting on the computer and find out who spent more Goerge W. or Obama? You will find out it was W. The only problem he spent it in the land or our enemy (Iraq and Afghanistan) building hospitals jails and schools. I guess you couldn't call that socialist spending. What would you call it? n Response to Re: Wealth Tax: Warren Buffett, Bill Gates and other billionaires are donating billions to the Gates Foundation. Are they patriots for doing so? I'm not so sure. Their donation is tax deductible. If they want to help the country so much, why don't they donate their billions to the federal government? I have a hypothesis -- they know the government will waste the money and they think they can do a much better job putting the funds to good use. Buffett talks a good game but he's a crafty old guy. If he wanted to pay more taxes he has every opportunity to do so, but he choses not to. He'd rather jawbone to curry favor with Obama. Regarding the wealth tax, it's not so far fetched. Several European countries have already implemented wealth taxes. Socialist-style governments have a unlimited appetite for spending. Posted by Harny |
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Re: Wealth Tax
posted at December 2, 2012 12:36 PM EST
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Posts: 12532
First: February 29, 2008 Last: May 17, 2013 |
In Response to Re: Wealth Tax: Since when a professor at NYU makes laws for the United States of America. But Grover Norquest can black mail every senator in the Republican Party by making them sign a pledge to not raise taxes on the 1% when the 1% pay less taxes the the average American. You call that appropriate? You call making a person making over 250K a year pay the same tax as the person making 40K a year unfair? Because that is what at steak here not what the obscure professor wants. There are extremist on both sides of the fence and one thing the President has said is they both have to Compromise. Signing a pledge not to raise taxes is not compromising. Posted by creppelrm SO TRUE !!! What right does our ELECTED in CONGRESS make a PLEDGE with Grover Norquist ? You know who else Norquist is affiliated with ..... besides not wanting to pay USA taxes and found some anti-patriotic congressmen to go along with it. ..... Grover Norquist ( the anti-tax pledge guy) is married to a Palestinian Muslim who help to run the Islamic free Market Institute which took donations from the terrorism financing SAAR network. The professor as a taxpayer has a right to suggest policies..... but he hasn't made a pledge with congress and that's the entire difference here. !!! |
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Re: Wealth Tax
posted at December 2, 2012 1:33 PM EST
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Posts: 4
First: November 27, 2012 Last: December 8, 2012 |
Also, it’s sad how misinformed people are. Anyone who defends Bush’s presidency, especially the Iraq war is blinded by their partisanship, but I would argue the same about the Obama years. The idea that the federal government spent more in the Bush years than under Obama is ridiculous. I say “under Obama” because spending is not entirely his fault, but then again he has done nothing to address it either. |
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Re: Wealth Tax
posted at December 2, 2012 10:42 PM EST
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Posts: 535
First: August 9, 2011 Last: May 24, 2013 |
In order to avoid the fiscal cliff, taxes for the 1% need to be raised. That simple. Rocket science is not needed to figure that one out. And you know what? It will happen regardless what is said. Because the people want it. If not the Republicans will be blamed and are working on losing another presidential election in another four years. In Response to Re: Wealth Tax: This is an example of how polarized our country has become. The partisans can't discuss any idea on the basis of its merits. Their response is always in terms of "us vs. them", bringing up past mistakes, calling names, drawing dubious moral equivalencies, never admitting any mistakes on their side...kind of like an old bickering couple. I posted a message about the concept of a wealth tax which would have major implications for retired people (after all, this is the AARP discussion board) and no one has mentioned it. The hyper partisans see it as another opportunity to bash the opposition. Also, it’s sad how misinformed people are. Anyone who defends Bush’s presidency, especially the Iraq war is blinded by their partisanship, but I would argue the same about the Obama years. The idea that the federal government spent more in the Bush years than under Obama is ridiculous. I say “under Obama” because spending is not entirely his fault, but then again he has done nothing to address it either. Posted by DaveSNJ |
Forums » Politics & Society » Government & Elections » Wealth Tax
