Quit worrying about the rich and worry about yourself

What's the basis and historical analysis for your assertion the Dems are just as much to blame?

I've worked and saved a lot of money for an early and comfortable retirement. What's your point?

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Great plan if you inherit from daddy or are rich enough to save money.

So why should the folks who already have the money get the special, privileged low tax rates, while folks working and trying to save to have money to invest get hit with rates more than twice as high?

 

Right. Income from labor is earned income, taxed at rates up to 35%, with an effective 15.3% up to $110k on top of that. Plus you can lose your job an livelihood.

Income from investments is unearned. Taxed at a max 15% (if you hold it for a while) with no FICA taxes. And if you have sufficient assets, you can invest in very low risk investments with virtually no chance of losing your principal.

The investment income that is generated and taxed was never taxed before. You are misinformed.

So tell us why you think you should pay a higher rate of tax than a guy like Mitt Romney again?

 

Your facts are false leading to a false conclusion.

Oh yeah. It sure is stupid to think that a trust fund baby who inherits $100 million they didn't earn should only have to pay 15% on investment income, while the guy who busts his ass earning his money pays up to 35% plus FICA.

How stupid is that. Thanks for the input, Leona.

Trillions are sitting in their offshore accounts. The 1% take proportionally $1.5 trillion per year more of the nation's income that they did 30 years ago. They stick it in their offshore accounts, while the 99% have $1.5 trillion less to spend, which is why all the recoveries since Reagan's "trickle down" policies have been slow and sluggish.

 

Look up the term "risk". When you do, then you will have your answer. No risk, no rewards bub, learn to live by it.

 

I addressed it in my prior post.

What I want is your answer to my question.

So tell us why you think you should pay a higher rate of tax than a guy like Mitt Romney again?

 

What party was in office when we allowed the Japanese to do this to us back in the 1960's, when we lost many of our industries to Japan because we allowed them to lock us out of their market and let them have free access to ours? This is only a couple of examples, there are many more if you want to take the time to read it. It's quite long

IN THE BEGINNING, THE TV CARTEL:

A very famous example of Japanese national government and corporate
coordination to take over a foreign industry is that of the Japanese TV cartel,
first set up in the 1960's. This is how Japan took the free-world TV industry
away from the United States. PBS TV's "Frontline" program did an excellent
documentary on this called "Coming From Japan", (see Appendix for how to get
transcript via Internet).

In the 1960's, the Matsu(*)(*)(*)(*)a Industrial Electric Company, Sanyo, Toshiba
and others formed a TV cartel in Japan. They got US TV technology from the
giants in the industry (Zenith, RCA, Quasar) in the following way. The Japanese
government prohibited US made TVs from being sold in Japan. Instead, they
insisted that the technology be licensed to Japanese manufacturing companies
rather than importing (still often the case today in Japan). The US companies
thinking they could still make money this way, agreed to these terms which
enabled the Japanese companies to acquire the technology on how to build TVs.

The above Japanese companies, with tacit approval from the Japanese
government, set up a cartel to inflate TV prices in Japan in order to turn
around and use the money to sell below cost TVs in America. This was to drive
US makers out of the American and world markets. US TV makers went bankrupt or
left the industry as they could no longer fund research to continue making
improved and high quality TVs. They could not compete with the artificially low
Japanese TV prices in America and were forbidden to enter the Japanese market
to take advantage of the high prices there. Hence, the US makers could not make
money. Furthermore, secret deals to thwart US customs, illegal under US trade
law, were set up by Japanese TV makers and US retailers such as Sears and
Montgomery Ward to sell Japanese TVs under store brand names. Concurrently, the
Japanese mounted an important lobbying effort in Washington to ensure that this
scheme was not disrupted by the US government or customs services [Agents of
Influence p77]. As a result, once famous brands such as Sylvania, Quasar,
Admiral, Philco and RCA have vanished or are foreign/Japanese owned. Zenith is
the only remaining US TV maker today. No US companies make VCRs although they
were an American invention.


As an example of a consumer "protection" law really created to prevent
foreign competition in Japan, one may look at the auto industry. All non
Japanese cars which enter Japan today must be "safety-tested" by Japan for
"safety to the consumer". The fee for this "safety-test" is several thousand
dollars PER CAR imported and must be borne by the importer (and consequently
the buyer) of the car. Cars made by Japanese companies (even if they originate
from foreign Japanese plants such as the US Honda Accord plant) are exempted
from the inspection and the fee as Japanese car companies are permitted to
"safety" their cars themselves at their factories. The result of this practice
is to make the prices of non-Japanese brand cars uncompetitive against Japanese
brands sold within Japan. This law adds upwards of $5000 to the price of each
US car for sale in Japan. [New York Times/CNN 12/25/92]. To further discourage
non-Japanese car purchases in Japan, auto insurance rates for non Japanese
brand cars in Japan have been rigged by auto producers (who own many of the
insurance companies) to be three times higher than rates charged for equivalent
Japanese brand cars [Agents of Influence p156]. It is these practices and laws
(and not that the steering wheel is on the wrong side) that prevent US car
companies from making headway in the Japanese market. Both GM and Ford ship
cars to Japan with the steering wheel on the correct side for Japanese roads
[Agents of Influence p156].

http://www.csse.monash.edu.au/~jwb/japanyes.txt

If you have done the right thing, most of this doesn't apply to you.

Who was in office when NAFTA and Free Trade was signed. They had a chance to add regulations to them to make trade more even and chose not to.

Who put pressure on banks to come out with easier lending rules that would allow people to buy homes that normally couldn't afford to? Don't think for a minute this economy was all the doing of Republicans. There is no innocent parties here. Both are just as guilty.

 

Your argument that Dems are equally to blame for the economy is based on something that happened with Japan in the 1960s?

OK.

 

I have never said the Democrats are not to blame, but I have YET to hear you start a thread blaming the conservatives.
Hypocrisy much?

Again, so what?
Get off the 'take from other's BS. It's a losing argument because, as I have pointed out, it only comes from the rightwing brain dead media.

 

No, His facts are correct and lead to a correct conclusion.

Rich people pay the vast majority of taxes, like 90%.

Your lust for anothers possessions is the only thing that has been exposed.

 

It started back in the 1960's and we were the world's biggest producers of televisions and lost the whole industry because we allowed Japan to shut us out of their markets while giving them free rein to ours. We got shut out of their market from selling autos there because we allowed them to tack on over $5,000.00 inspection fees. How much did that cost Ford and GM in auto sales? There are other dirty tricks we allowed them to do to us. But these two alone cost us thousands of jobs and whole industries we once dominated.

How many industries did we lose to Mexico and China by not putting rules and regulations on NAFTA and Free Trade? That was in the 1990's. So was the start of having banks cut there lending rules to get the poor into homes they couldn't afford.

You think it's all the Republican's fault this economy is like it is? Your only fooling yourself.

 

Wanting to make as much money as one can is not greed. Greed is when those who are lazy want to take money from those that are productive because they are envious but refuse to do what it takes to become productive.

 

What does that matter?
Who WROTE the bills??
Good lord man.

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Now you have to redefine 'greed' to make you agenda seem more palatable?
wow.

 

LOL!!
Just making up stuff as you go!!

 

Cause Bill Clinton, a democrat, signed them into law.

Who wrote the bills are irrelevant, because theyre not laws until the President signs them.

 

FYI regarding NAFTA.
http://en.wikipedia.org/wiki/North_American_Free_Trade_Agreement
the House of Representatives approved NAFTA on November 17, 1993, 234-200. The agreement's supporters included 132 Republicans and 102 Democrats. NAFTA passed the Senate 61-38. Senate supporters were 34 Republicans and 27 Democrats.

Your past few days of digs on Democrats and Liberals is getting too obtuse.

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FYI regarding NAFTA.
http://en.wikipedia.org/wiki/North_American_Free_Trade_Agreement
the House of Representatives approved NAFTA on November 17, 1993, 234-200. The agreement's supporters included 132 Republicans and 102 Democrats. NAFTA passed the Senate 61-38. Senate supporters were 34 Republicans and 27 Democrats.

Your past few days of digs on Democrats and Liberals is getting too obtuse.

 

Oh my god.
I mean.....wow...just.....wow.
We spend a great deal of money on research to find out that right wingers are by and large dumb, when all they need do is read this forum.

 

Nope, Its one of them there fact thingys, maybe thats why youre not aware.....

Taxes paid by highest incomes

The top 1% pay 22.7% of taxes.
The top 10% pay 50% of taxes.
The top 20% pay 65.3% of taxes.
The top 40% pay 84.3% of taxes.

Taxes paid by lowest incomes

The bottom 20% pay 1.1% of taxes.
The bottom 40% pay 6.1% of taxes.

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Nope, I just read your lies and type the truth.

 

I'm to busy putting down Liberal lies about how the Republicans are all to blame for this economy and don't say they haven't done it. You have never heard me ay the Republicans were without fault.

You are wrong sir, that is all you people talk about is redistributing the wealth. That can only really be done through jobs, to lift people out of poverty. Government will only use more tax dollars on welfare, or (*)(*)(*)(*) it away as they usually do and the poor stay poor. Taxing companies more is not the way to create more jobs. Ireland should have taught us that.

 

How have I redefined greed? I am simply saying that being productive and wanting to make as much money as possible is not greed. Greed is when there is an 'excessive desire' for wealth and power which is more indicative of liberals who seem to constantly want what others have in their excessive desire to garner ill-gotten wealth.

 

If leftys cut up their EBT cards, and got a job, instead of a spot in the unemployment line, then theyd pay taxes and help America outta this mess...

 

Most of NAFTA was written when Bush Sr. was in office. But Clinton had a chance to add rules and regulations to it and decided not to. If you forget, Free Trade was hammered out and signed by the Clinton administration. It was under Clinton that the Democrats put pressure on the banks to lesson their lending rules.

Clinton said himself that Democrats were warned by the Republicans about the home lending and wouldn't listen to them.

 

Wrong, I just gave you the info on NAFTA, it was endorsed by Republicans more than Democrats.

 

Democrats pushed hard to pass NAFTA.

1993: Called members of Congress to push for NAFTA
November offered two examples of sound policy and questionable politics. After Al Gore plainly bested Ross Perot in a heavily watched TV debate in NAFTA, it passed the House, 234-200. Three days later the Senate followed suit, 61-38. Al and I had called or seen two hundred members of Congress, and the cabinet had made nine hundred calls. President Carter also helped, calling members of Congress all day long for a week. We also had to make deals on a wide range of issues; the lobbying effort for NAFTA looked even more like sausage making than the budget fight had. Our whole team had won a great economic and political victory for America, but like the budget, it came at a high price, dividing our party in Congress and infuriating many of our strongest supporters in the labor movement.
Source: My Life, by Bill Clinton, p.557 , Jun 21, 2004



In 1993, prospects for NAFTA looked so bleak that it was dubbed “Project Lazurus.” The credit for its unlikely passage went to Bill Daley, the Mayor’s brother and later Clinton’s Commerce Secretary, and Rahm Emanuel.

While writing a profile of Bill Daley in 2004,I interviewed Emanuel, who was happy to take credit for helping Daley shove the treaty through Congress. “Billy and I shared an office… [NAFTA] went from being on the respirator to a success,” Emanuel said. In a 1997 Chicago Tribune magazine profile of Emanuel titled “Mr. Fixit,” reporter William Neikirk wrote that passing NAFTA was “one of the crowning achievements of [Rahm’s] government service.” Emanuel told Neikirk that he is particularly fond of a photo he took with Clinton after NAFTA’s passage.

 

And as I have just shown, it was pushed hard by the top Democrats. They took pride in passing it.

 

Pathetic.

Please stop with the party lies, no one has ever said anything about 'taking away to give to others', you know it and so does everyone else.
Normally you can be reasoned with, why the partisanship now?

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Who wrote it?
Thats what is important, who wrote it.
Not who pushed for, and certainly not who signed it, but who wrote it.