How Wealth Redistribution Has Broken the Back of America

Discussion in 'Too Hot for Swamp Gas' started by philnotfil, Oct 7, 2013.

  1. gatornana
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    gatornana Administrator

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    I'm all for people keeping more of their money but that's probably not going to happen.....corporations want your money....and they'll get it. They have more money and power than ordinary people do.
  2. philnotfil
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    philnotfil Well-Known Member

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    Why all of this defense for corporations paying less in taxes, and all of the vitriol for the 47%?
  3. rpmGator
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    rpmGator Well-Known Member

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    Bush in office the top one percent made a killing.

    Obama in office the top one percent made a killing.

    I agree that moving all the money to one percent of the population is hurting America.
  4. HallGator
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    Person who makes 10K and pays no taxes = leech and user

    Person who makes 1 billion and pays no taxes = producer and good businessman
  5. MichiGator2002
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    You really don't understand any difference at all between government a) not taking money in the first place, b) taking the money but giving any of it back as a "credit", and c) taking money and dealing it around to whomever, do you?

    (A) isn't redistribution and it isn't corporate welfare. It is government keeping its grubby mitts off.
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  6. HallGator
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    In some cases maybe but not when they are given government subsidies or are allowing companies not to pay taxes for incentives. How about price supports?
  7. gatorman_07732
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    gatorman_07732 Well-Known Member

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    You might want to start your argument with a restructuring and simplification of the tax code and then your OP might be more receptive.
  8. philnotfil
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    philnotfil Well-Known Member

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    I would love to be able to simplify the tax code. I wish we could put Milton Friedman's plan into action.

    The question still remains, why the defense of one group not paying taxes and the vitriol for another group not paying taxes?
  9. gatorman_07732
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    I'm not sure what you're talking about why the defense of one group not paying taxes. Who isn't paying any taxes to the federal government in the upper income bracket?
  10. oragator1
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    oragator1 Premium Member

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    Setting aside the issue of "fairness", the two times in the last 90 years when wealth disparity was at its highest were right before the 1929 crash and right before the 2008 crash. And now it is continuing to rise, we are now at levels not seen since 1916, the end of the robber baron age.
    The issue isn't just one of fairness, without a middle class the economy will fail, because there is no one to buy goods. It's not a coincidence that when our economy was strongest, like in the '50's, we had a prosperous middle class. Right now the middle class is being crushed, real earnings continue to fall while a select few collect and concentrate the wealth. It's not good for society long term, we will become no different than Latin America over time if it continues.
    There are a whole host of reasons this is happening including automation, offshoring, decline of unions etc, but in there as well is tax policy, taxes on the wealthy are at historically low levels. It's a perfect storm for the middle class. It's a problem we have to solve.
  11. OklahomaGator
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  12. gatornana
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  13. OklahomaGator
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    "The federal government’s proper role in the economy should be that of a neutral referee,
    with intervention limited to facilitating the free exchange of goods and services."

    Nana, the above is a quote from the cato link you cited. Think about that quote and how it would apply to the ACA?
  14. g8orbill
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  15. QGator2414
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    I am all for simplifying the tax code and not spending money on things the government has no business being involved in.

    Which includes removing the redistributive child tax credit and EIC... :whoa:
  16. gatornana
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    But what do you think about $100 billion of our tax dollars going to big industries and corporations.....that doesn't include the tax breaks. One of the points of the Cato Institute's report is that this sort of redistribution of wealth is magnifying our financial and economy crisis.
  17. gatornana
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    Do you believe big industry and corporations are entitled to $100 billion of what we've earned?
  18. gatorman_07732
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    Why did Obama unilaterally give corporations a delay on the ACA mandate and stuck to individuals? This is now the largest tax increase ever all on the backs of the schlubs.
  19. fubar1
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    If there is any type of "corporate welfare" or uneven playing field via the tax code, I'm all for straightening it out. As long as it doesn't work against this country's competitive advantage.

    But this debate needs to center on a deeper understanding of corporate taxes, and who exactly pays them. It's a layered discussion, but suffice it to say, only you and me pay those taxes. You and me defined as the common man who pays for goods and services and/or the shareholder of any public company.

    View the issue from this perspective and "corporate" taxes take on a new meaning.
  20. rpmGator
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    rpmGator Well-Known Member

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    Thought I saw that the top one percent had over half thr money

    If so, anything less than paying half the taxes would be another reason why too much

    in the hands of too few isnt a good thing.

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