A progressive tax system gives corporations incentive to use their profits to reinvest into the company and hire more workers. A flat tax does not have the same incentive.
The rich stock holders and the bankers are the problem, but yes rich people are the problem here not the (almost extinct) middle class or the below that.
It's a progressive tax system. We all pay the same rates, based on your income level. A "rich" person making $500K is one person, and contributing approximately half his income, or $250K into the system when you add up Federal, State, Municipal, etc. A person making $50K is one person and paying virtually nothing. Plus, those so called rich people are also paying a lot more taxes on their assets like real estate. Most "rich" people are also working about 80 hours per week. They r not problem
wow you mean that people are trying to keep more of their own money, what a concept. Your an idiot. That is the problem with socialist like you. You think it's others money. So the people that pay 97% of America's taxes want to keep more of their money while 50% of America pays nothing and sucks us dry. What the hell are they thinking. Moron.
This is so stupid he rambles on about nothing, and it not even true. Rich people pay more in taxes in a year than any middle class. America has a scewed mindset, just because the wealthy have gained there wealth and are now sitting on it does not make them wrong. I would do the same. Bill gates might be rich but he has alot more stock than income, therfore he does not pay taxes on that stock. So stop bashing the rich they pay more, and will always pay more than anyone.
Trust me a $180,000.00 a year is very far from being wealthy and for the most part you'll never know what these politicians really make they have a great way of hideing there kickbacks for doing what the real wealthy want them to do and by wealthy I mean these big corporations like G.E. that make billions a year and don't pay any taxes. It's no wonder our schools, police, fireman, are taking such cuts while the wealthy become even more wealthy. Balance the budget = rich tax break.
WE are not losing anything, that isn't OUR money. Last time I checked we weren't living in 1950's Soviet Union, or Cuba. I can't believe people actually believe what this guy is saying.
What people do not understand is the wealthy rule the laws because they pay to have our politicians vote for what benefits them the most, this is like the days of kings and peasents, we the middle class working people pay the wealthies fare share and we also pay our politicians wage and we pay for the poor, now out of these three I do not mind paying for the poor but paying the wealthies fare share is wrong and our politicians do not deserve a paycheck with all the perks they get.
@s46d45m17 You don't contribute significantly towards anything, unless you make more than $180,000 a year. And, if you consider yourself middle class, I doubt you fit that category. Truth is, you only pay a consumer tax, (if your state has one), and that's pretty much it.
I'm for the GOP. Give millionaires back exactly what they paid - with reasonable interest and not one cent more when it comes to Social Security, Medicare, VA, any government assistance. I watched a lady that inherited $2 million during her last 6 months of cancer. Medicare paid all her medical bills and she drew a SS check off her husband. She never worked or paid into the system. She died with $2 million dollars in the bank and with America in more debt than any time in history.
Tax Cuts=More money in pocket=More demand=More jobs
If the above equation is true, then why are there still no jobs after record profits for the past 2 yrs for American corporations? The super rich are sitting on TRILLIONS because there is no demand. There is no demand because there are no jobs. So what's the obvious answer? That's easy. Roll back the Reagan tax cuts, stop laying off teachers and policemen and use the tax revenue to create jobs that the private sector can't and won't.
Liberal Democrats hate the rich more than they love economic growth or tax cuts for the middle class. Democrats find it is more emotionally satisfying to punish the wealthy than it is to assist the non-wealthy.
all this is just typical capitialism and yet people in the united states praise it to no end while the middle class and the poor are nicked out of what little finacial resources they have. no wonder america is going bust.
@doctorw2 The top 1% pay 36%, top 25% pay 82.9% of our taxes and the top 50% earners pay 96.03% of all income taxes. The bottom 50% pay 3.97% of all income tax!!! That equates to 50% paying only 4 dollars out of every 100 dollars in taxes. So why is it you think the rich should pay more? I think they pay enough now. Instead of bickering over taxes we should be cutting government spending; thats the real problem. They have us too busy fighting amongst ourselves to worry about that though.
@fluttervalve that is all wrong, the wealthy get unbelievable tax breaks especialy corperations who have ceo's who sell american jobs overseas they recieve huge tax breaks for doing that. the finacial elite can manipulate the system at will to their favour and yet american people like you with little or no finacial resources just accept this and let them pillage your pockets while they get away with almost any sort of infraction you could think of. that is UNACCEPTABLE!
just goes to show you what the Rich do.......hide there money in off shore accounts and only pay the taxes on U.S. accounts.........they been doing that forever!
Who's the Friggin Rich? People that make $250,00 a year are Rich now? Thats a couple making 125,000 each, take out the tax they pay, whats left? These rae the people that donate and employ people. Tax them more and they will spend less & no longer donate & u will need to rely on the Govt for help & they will say, "We Are Broke" because we stimulated GM and Banks. I donated to a lady who has cancer, did the Govt help her? NO. Go after Billionaires who have their money around the Globe
bushs tax cuts worked actually in 2002 -2007 the highest number of minority bussniesses began to boom and the nations econemy and spending wnet well but the failure of it is simple lack of knowledge and croniesim created massive issues which lead to the 2008 crash
in trickle down economics the rich are in theory supposed to be stimulating the economy with the extra money they have from the tax cuts. hahhaha. sounds great, but most of those rich people just sit on it and dont give a shit to donate. flat tax plz.
I hope all you unemployed, and soon to be unemployed inbred right wingers remember not one republican voted to extend unemployment comp!
AND, the very first thing they will do if they get the majority is to cut taxes for the wealthy elite. This is where thier hearts are at. How's that trickle down economics working for you? SUCKERS!!!
My uncle own a local bakery. He says yeah, all businesses will tell the government they want tax cuts, but it will not make them hire. What will cause a business to hire is when they have demand. A demand great enough that the current staff cannot handle the business. Also, when you are starting to lose business because your current staff is causing business to walk out, THEN you hire. If the demand is not walking in through the front door, the tax break will just go to the bottom line.
@816cameron You and your uncle are looking at a microcosm of the economic affect of tax cuts. If you uncle gets to keep more of his money as would millions of other businesses, that money left in the private sector will collectively create jobs on a large scale. Unless your uncle takes that extra cash and puts in his mattress, it cannot help but create jobs somewhere.
@DillonDee Why should we should have to pay for the mess the politicians got us in? How about the Government actually cutting back it's bloated spending plan and paying down the deficit. I know that may sound outlandish but taxing the people is not the answer. Throwing out the "tax and spend" politicians and drastically cutting spending is the answer. According to the Treasury report the top 25% wage earners already shoulder 82.9% of the tax burden on the citizens. You want them to pay more?
@fluttervalve - your statements are incorrect because you say the top 10% or 25% pay a certain % of "taxes" or "all taxes" or "our taxes".
You should say "income tax" because we have around 100 taxes in the country which are regressive - meaning the lower & middle classes are paying a higher % of income on taxes than the upper class.
As an example, the Iraq War was paid for in large part w/ Soc Sec tax which hits the lower classes w/ 15.3% while many in the top 10% pay less than .000001%.
@DillonDee1 You cant cut the lower and middle much more than they already are. The bottom 50% wage earners pay only 3.97% into taxes. The top 25% in this country pay 82.9% of the taxes. That equates to the bottom 50% paying only 4 dollars of every 100 dollars in taxes. That seems like a good deal to me. If you don't believe the numbers look up the Treasury Department's report and prepare to be astonished about how you've been lied to.
@fluttervalve - there has been such a redistribution of the country's wealth in recent years to the top 10% that they now have 78% of the country's financial wealth AND YET pay only 48% of the federal income tax
What makes matters worse is that we have many other taxes & they are regressive - meaning the lower & middle classes are paying a higher % of their income in taxes than the top 10%.
So you have the top 10% paying around 16% of income in tax as the middle class pays around 35%.
@816cameron cutting taxes solves all of these problems...lower taxes for the rich/business owners, and they get more $ to invest/have more capita in genera. then the consumers have more $ to buy the business makers shit. if they have more money, and the owner has more $ from revenue and tax cuts, then he will hire more.
tax cuts=more money in pockets=more purchases=higher revenue=higher demand=more jobs
so lets see, the tax cuts for the rich for the past 8 years worked so well, we need to extending them. DOH! Tax cuts to the rich create BUBBLES -- The use the extra revenue for higher, riskier investments.
Yea, thats why the Bush tax cuts are going to bring in over $200 billion dollars in revenue this, cutting the deficit up to 15%.. why dont you get a clue you liberal bastard
The people who shout 'tax the rich' can't seem to understand that our economy is linked. If you raise taxes on business owners the burden gets passed right back to worker in the form of lost jobs and increased price of goods. You're taxing yourselves.
Both republicans and democrats have cut and raised taxes on the middle class. The thing that creates wealth is what the money is being spent on. In the 90's, Clinton raised taxes a little bit on middle class, but spent money on laying down fiber optic cables to give us Internet access we enjoy today. That higher tax rate helped us create millions of new jobs. The recession in 2001 was laying off workers who were fixing the Y2K issue.
Fiscal conservatives argue that the more money the rich have the more it trickles down to the masses, but evidence shows otherwise. The richer they are the more likely they are to avoid paying taxes and the more likely they are to hide their money in overseas banks!!
Commenters who are posting in opposition to what this video is talking about are confusing tax brackets with actual tax paid. Warren Buffet is in a higher tax bracket than his secretary, but after all his tax deductions because of the breaks the rich get, his actual tax paid percentage-wise compared to his secretary's actual tax paid percentage-wise IS less.
Not to defend him, but Warren Buffet's sole source of income is from long term capital gains which is currently taxed at 15%. He does not have a salary which would be taxed at the maximum federal level of 35% (and whatever state taxes apply) on top of the capital gains. This is how he "gets away with" paying "so little" in taxes. Considering he makes tens to hundreds of millions in long term capital gains, his "so little" taxes is more than probably most of us even earn in a year combined!
Great Sport. How is wealth taxed? As far as I know wealth is not taxed. Income is taxed. Use proper terminology. Wealth is a stock. Income is a flow. My idea is that the federal government be restricted to doing what it was designed to do and Warren Buffet and the rest of the rich liberals pay for all of the programs that they want. I want true capitalism. Let the beast loose.
@jjrglobal: they're not talking about the money kept by the company to keep the business going...they're talking about the personal income of the CEO's; money that you'd never see anyway.
I think we all pay too much in taxes, including the rich, and the government pisses it away on bullshit. Our government is plenty big enough and they collect ar too much in taxes
What he's talking about is the capital gains tax that's 17%, so if you want your taxes to go up on your 401k then you want capital gains taxes to go up, which will mean less investment in the private sector and bigger government
You do know that even more than that is being sent from illegal workers in the USA to India and Mexico. TAX FREE. Offshore accounts are peanuts compared to the cash that is being sent from illegals to these countries. We only hear what we want to hear. We only hear what we want to believe in. Democrats/Liberals, Republicans/Conservatives, are all the same. Agenda, Agenda, and more Agenda.
Will someone please revive the founding fathers of our great nation? PLEASE???
$100 billion a year is nothing compared to what obama is spending. Also, way to personify those evading taxes as rich republicans, you may want to note obama's several democratic nominees for various roles in his administration who have been forced to withdraw because of their tax-evading pasts.
Regarding taxes, we shouldn't expect the rich to pick up our slack. America is a land of unlimited opportunity, raising taxes on the wealthy undermines the foundations of the country.
Why do you think they are? You think if you tax a landowner he's not going to force the cost on his tenants by raising rent? In Maine where I live we have one of the highest burdens in the countrty and our taxes are considered the most regressive. We have one of the highest poverty rates in America. Contrast this to states likie Nebraska and New Hampshire that have low taxes and less poverty.
Bottom line. You squeeze the rich its the poor that get pinched.
And the fact that they are NOT Republican is just foolish of them. The Govt. is taking their money away to then redistribute it through "social services" such as welfare. They should be getting pissed off, not smiling like idiots and bowing down to Democracy. Equal my ass.
Lobbyists aren't needed, just an angry populace marching in the streets threatening to storm congress like the Bastille is... But Americans are too chicken shit and stupid to do anything like that.
You believe that lobbyists aren't needed. I completely disagree with your opinion. I think lobbyists ARE needed.
Exactly how does storming Congress replace hundreds of experts in their respective fields...?
Senators can't know everything about everything. They need someone to approach them and present the different points of view, else they would just vote on everything without sufficient knowledge of the subject.
Or they could quit interfering in things they know nothing about and dont have the constitutional authority to be involved in, like running an auto manufacturing company
The real fat cats can sustain their fortunes simply by having their fortunes, and are unaffected by taxes. The reason we have not gone after these people is because if we do try to tax them, they will simply move their money to another country.
When you hear about 'taxing those who make over $250,000' as the Obama plan lays out, Obama is talking about income tax, which means he is talking about taxing those who contribute to the economy.
If you tax small business owners, they compensate for higher taxes in one of four ways. They increase the price of their goods to make up for lost money, they decrease the pay of their workers, they fire unnecessary workers and get by with a skeleton crew, or they go out of business/move to another country to do business.
If you raise taxes on a landlord, the landlord will compensate by raising the price of rent...
The point is, if you're taxing the "rich" that contribute to society YOU pay for it with your wallet. This is because like the human body, the economy is linked. You can't drain the life out of one sector of the economy and not expect a shitstorm for yourself.
Government uses your anger and envy towards the rich coupled with your lack of understanding of the economy to expand itself at YOUR expense.
In essence there is one true underlying debate beneath the smoke and mirrors, we can move towards bigger government and public programs, or we can revert back to small government, freedom, and individuality - thus returning the wealth to the hands of the people.
The only reason Bush's tax cuts failed is because it went only to the rich. They then sent jobs overseas and brought over illegal aliens. Those tax cuts should have gone to everyone and any CEO that outsourced should get nothing.
democrats are not better on taxes for the middle class. just wait for the 8-900 billion in energy taxes. That will target the middle class and make the amount the rich tax evaders pay in (Something like 100 billion a year?) seem small.
It's about class warfare kids. and like any pertinent person I'm less concerned with taking sides than the fact that sides are being taken. The South Africanization of America has begun.
Tax the rich. The reason it makes sense is that rich people, instead of paying the tax, find investments. Now they just sit on their cash. Tax them higher and they will take every penny they can and find ways to invest it.
How many of you work for poor people? Rich folks pay your salary(or welfare), and 80+% of your taxes! Don't be an idiot and shot your job in the foot by raising taxes on the "rich". Class envy is just foolish and people that believe you pay more taxes than your boss shouldn't be allowed to drive a car(because your a retard)!
If we look at income Growth by Quintile, we find that from 1950-1978, the income growth of the lowest 20% grew 138%, the income of the 2nd 20% grew 98%, the income of the 3rd 20% grew 106%, the income of the 4th 20% grew 111%, and the income of the highest 20% grew 99%.
Whereas from 1979-1993 the income growth of the lowest 20% grew -15%, the income of the 2nd 20% grew -7%, the income of the 3rd 20% grew -3%, the income of the 4th 20% grew 5%, and the income of the highest 20% grew 18%.
Wake up !.... (Poor & Middle ) Class Republicans O'reilly, Limbaugh, Hannity only pay on average
17% in taxes, You & I pay about 32%... almost double. Those guys don't give a shit about you or me all they care about is convincing you to vote Republican so they can keep their tax break !
@douglask1976 Limbaugh and all the political talk shows are all sales people. I don't think people realize that. They are selling their product by getting more TV ratings, selling more books, and selling their companies like investment firms. It's all about sales pitching. YoungTurks are doing it too, but they are closer to reality than the right.
@douglask1976 You might want to check out the treasury dept report. According to it the top 1% pay 36% and top 25% pay 82.9% of our taxes and the top 50% earners pay 96.03% of all income taxes. The bottom 50% pay 3.97% of all income tax!!! That equates to 50% paying only 4 dollars out of every 100 dollars in taxes. So why is it you think the rich should pay more? I think they pay enough now. Instead of bickering over taxes we should be cutting government spending; That's the real problem.
@douglask1976 Well Doug, you know your stuff! The administrative assistant of a CEO of most large corporations almost pay double in taxes than the CEO! Somethings gotta give here!
If you make less than 200,000 dollars a year & you vote Republican you're a total SUCKER!. Rich people Reagan, Limbaugh, Hannity & so on.. Convinced you the ( Poor & Middle class) that if you give them more money you'd be better off
Say this 3 times in your head
Rich people convinced me that I''d be better off if I give them MORE money say it 3 times in your head!.
I am sorry but when the bottom 40% isn't paying income taxes why do they need a tax break... they don't. So who provides the wealth and the jobs in this country... The rich.. The Wealthy... Not the poor...
When you give the job providers a tax cut they are able to hire more employees. When you tax them more they raise prices and fire/lay off employees. This is the truth about economics not what you are spitting. Welcome to life you 35 year old still living in his moms basement...
cenk is dead on with this point. ceo's need to figure out who is going to buy their product if the average can't afford to buy it. these people have more money than what they know what to do with and alot complain about paying higher taxes. like the oil companies say they pay 10.1 million or whatever a year in taxes forgetting that they are racking billions profit. fucking ludicrous
I agree with every word the Young Turk said. Unfortunately, in the USA one is considered a communist if one supports fiscal equity. Well, communism is a completely different issue, and has nothing to do with people's contributing in a just way to the public expenditure. Besides, if I were rich I wouldn't mind paying in taxes 40% of what I earn beyond 1 million dollars a year; those who would be (or are) concerned, are either crazy or unreasonably greedy.
Anything else is just PURE GREED. FUCKING GREED. You know, one of the 7 deadly sins? You know? The bible says that a camel has a better chance of going through the eye of a needle than a rich man does in getting into heaven. But wait, aren`t republicans the `conservative christians` and yet they are the ones who constantly give tax breaks to the rich. WHAT!
Its not a "punishment" to tax the rich it IS GIVING BACK TO THE COUNTRY THAT ALLOWED THEM TO BECOME RICH IN THE FIRST PLACE. It makes perfecet fucking sense, christ! They will STILL BE RICH with higher taxes, its not like they will be out on the street! The price of success is GIVING BACK TO THE COUNTRY THAT GAVE YOU THE OPPORTUNITY. They should be HAPPY TO DO IT.
Andjusticeforme you're just as ridiculous. The rich deserve the tax cuts because they create jobs? REALLY? You didn't listen to this video did you. The issue isn't whether the rich are creating jobs, the issue is that they are GETTING TAXED THE LEAST when they can afford MUCH MORE. So somehow the rich should be taxed less? There are people starving but someone with enough money for 10 families should be taxed less? Taxing the rich isn't a "punishment" IT IS THE COST OF THEIR SUCCESS!!
And mbvtx77 you are exactly the kind of person I am talking about. You REALLY think there is equal opportunity to become rich? Are you some kind of maniac? "shut up and get a job, don't worry about anyone else" this is your advice? You silly ignorant boob. Yes ignore the rich raping the middle and lower classes. Yes EVERYONE who isn't rich is just lazy. You don't think there is a system set up so that the same people STAY rich generation after generation?
The problem is republicans have become so incredibly brainwashed that they seem to think taxing the rich more is somehow "punishing" them for making more money. For gods sake it should be their DUTY. What this guy says it absolutely true, if you tax the rich more, what they will only be able to take 3 vacations a year instead of 2? It is SO OBVIOUS that the rich should be taxed more. Republicans are all about big business, they use religion to pacify their followers and then favour the rich.
nothing and everything. there are folks amidst the rich folks who have .. well.. cheated to get their money, they robbed someone via official means, all bad to the normal folks like you and me. those deserve all the blame and mocking they get. and then theres the few who are honestly rich (sic), they're rich because they know good business manners and play accordingly. nothing "mockable" about them. its all relative, but money gives no immunity for commentary against them should it be necessary
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the top 10% of the wealthiest people in this country pay 70% of the total tax bill. what the hell are these people talking about??? most poor people in this country have/had the oppurtunity to make something of themselves, but intstead they just sit around waiting on the government to always bail them out. why should people that have earned their money have to give a bigger percentage away? democrats are responsible for 90% of the taxes we pay anyway. i wish libs would shut the fuck up!!!
They also have control of 70% of the wealth in this country. Damn right they should pay 70% of the tax bill. They live in a system that has allowed them to get huge sums of wealth.
you're damn right that they live in a system that has allowed them to accumulate huge sums of wealth. you have the same oppurtunity!! that's one of the things that makes our country great. the oppurtunity to prosper. shut up and get a job. make your own money and don't worry about everybody else.
You act like the richest people got there by themselves making everything that got them there. They need other people to get rich. The people that they are currently screwing over. You seem to be perfectly fine with enormous wealth inequality. That's how revolutions get started. A few rich people at the top and a lot of poor people at the bottom is an unhealthy society. Read your history.
of course it takes other people to help people get to the top. unless you win the lottery i guess. people that get rich usually create a product that other people need. something that has a high demand. that's how people get rich. some people just inherit their wealth, but oh well that's their luck. quit bitching. apply yourself and maybe you can have a little success and create your own wealth. nobody that has money owes you a damn thing.
And even more people do nothing. All they do is use their money to make more money. They've never been on the manufacturing floor. All they see are numbers.
And if I ever get that rich I will be more then happy to pay my taxes. Even at 40%.
if you ever get rich i will expect you to give away 99% of your yearly earnings. keep just enough for yourself to pay the light bill and make the rent payment in your run down one room apartment. you can give the rest to the government and let them waste it.
We'll see. I've never seen anyone who tells other people to pay taxes pay the whole 36%, ie. Warren Buffet and all the rich politicians, Obama, John Kerry, Al Gore, etc. They all take deductions and telling other people to pay the taxes. And one more thing, why don't you just sit there and see if money comes to you. It's either the parents making it rich for themselves or they passed it on to their descendents. And remember, who's paying for your salary? It's the rich or coporates, not the poor.
That isn't how most people get rich. Most people get rich by hoarding a commodity, such as real-estate, through inheritance, or through connections, like CEOs. Extremely few people get rich by creating something.
Yeah right. Bill Gates got rich by standing on the backs of his friends and then lawfully stealing every other companies products. Typical rich guy. Not that all rich people are like that. Just the billion and hundred million aires.
i'm by no means wealthy, but i don't complain about anybody that is. i could use a few extra dollars every week to pay the bills. rich people do pay their fair share. just because someone has millions doesn't mean that they should have to pay 60 or 70 percent of their earnings or net worth to the government. that's bullshit. if someone wants 10 houses and 20 cars and they can afford it, then so be it.
I'm not making a call for revolution. But if you study the revolutions of the past it's almost always because there's a large number of poor people and a small number of rich aristocrats. That was certainly true of the French Revolution and the Russian Revolution.
Either way, to say income inequality isn't a problem is ignoring the past.
The top 1% richest people in the US pay 32.1% of total traxes. The top 10% pay 65.2% of the taxes. To be in the top 10%, you must make about $97,000 a year. Please research who pays the taxes before making those statements. My source is Investor's businesss Daily.
The rich deserve the tax cuts. They are the ones who run the businesses and provide the jobs. Ever try working for a poor person? I would love to know how that worked out for you. Chances are, you quit to find a higher-paying job. Well, who provides those jobs, geniuses? That's right, kids, the wealthy business owners. This really isn't rocket science. Well, for some, maybe it is.
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YOUNGTURKS
you are a stupid fucking idiot, your a liberal dick, your views are biased and bullshit, you should get a job with a real media company, fuck you and your nigra obama
First of all are taxes should be lower so people will try and make more money and next these tax cut work. The bottom 48% of population does not pay tax and the top 25% earner pay something over 80% of the all taxes.
FAIR TAX!!! everyone should pay the same. The congress won't ever do it though cuz it takes away their ability to talk about changing taxes every election. National Initiative we as a majority of hard working tax payers would vote in a heart beat to sock it to the extreme minority of billionaires.
Do you know how much money I am losing because people like you in this country complain how much taxes I am not paying? Do you know how much money the single mom in this country is losing because people incongress like to spend? Do you know how much money is being taken out of our economy because the govt wants to keep it?
I met Warren Buffett once but alot of folks do here in Omaha he goes around the city like its nothing hell 6 monthes ago he got into a car accident getting Bronco's hamburgers which I won't even eat that crap but still funny that a billionaire or however much he is worth and he still eats fast food
If greed is a sin then its a sin that will be judged on those individuals by God. Now I assume you are not a greedy person so you shouldn't worry about what other punishments other people will recieve in the after-life. Assuming you believe in all of that.
I don't care if greed is a sin. I would like to see some well being, justice, some peace on earth. If greed is an obstacle, than greed needs to be fought HERE and NOW.
Then that is your choice and respect that but you should do that with your own money and people who think like you. Please voluntarily hand your money to the government and have them redistribute it to other people but let others keep their money.
I must not have been able to explain clearly enough the concept of "society". Society is somewhat like a non-profit company: everyone must contribute for its well being, and not just SOME partners. My money alone would not be enough. Mine and yours and everybody else's are to taken into account to see how much well being that society can guarantee to all its members. And, again, this is NOT communism. Please read my previous comments about distribution of wealth in favor of (rich) home owners...
"Society is somewhat like a non-profit company: everyone must contribute for its well being"
And the only way that happens is through the govt? People donate money to charities all the time and probably equal to that of govt charity (aka welfare programs). Your personal property and money is yours and can't be touched by the govt else it would be the govt's property. That 10, 20, 30% you involuntarily "donate" to the govt is the govt's money so 30% of your time at work is for the govt.
The BEST way that should happen is through the law, i.e. through the Government, which should pursue the society's interest. Simple. Charities are welcome, but they can't (and in fact don't) substitute the Government. If we leave it to charities than one might decide not to contribute, and that would NOT be fair with regard to those who do contribute. You seem to consider the Government like a foreign malicious entity. The Government represents the interests of the Society.
Citizens might not want to help sometimes because they might feel that there money is not needed or not put to good use and sometimes they use that money for themselves which helps "society" because they are a part of the society. Allowing each and every person in a society to do with their own money and property helps society more than a govt that feels it has to consumer and spend all of our money.
Your last sentence says it all. It's useless to keep talking with you. Unfortunately there are too many people who consider themselves to be good-hearted, who go to churches, who claim to be christian, who stick a fish logo on the back of their car, but then have such an egoistic approach to life when it comes to "love thy neighbor". I'll only add that if employers paid their workers a decent salary, then there would be less need of wealth distribution. I'll not reply to your posts anymore.
Know what's foolish? Treating govt like an alien entity stealing from you.
When the top tax rates were truly high from 1950 to 1978, American income at all levels grew at about the same pace.
But when progressivity was lost in the 80s, the income of the poor began falling, while that of the rich continued growing.
Personal income tax rate for the top bracket in 1945 was 91%, from 1946 - 63 was 88%,from 1964-81 was 70%, from1981 - 86 was 50%, in 1988 was 28%, and in 1991 was 31%.
I think most people are moving up the income latter. If you look at the number of people that have progressed to the 250,000+ income bracket you would see that it has increased. I know this because when it was firtst enacted it only effected a tiny percent of the populace but know it effects quite a few more people. All progressive income tax does and is designed to do is to keep people in the same income brackets which sounds like a cast system.
I don't think the govt is a foriegn entity but I do believe that government power is derived from the people and when govt ignores people's wishes not to be taxed and certain politicians use crafty arguments to get their tax increase then I feel that they are now acting independently of the people. At that point government becomes a foreign entity or dictatorship and those have not legitimacy for those that believe that govt power is derived from the people.
timbosforporn, this anti-tax rhetoric you just used is the key argument used by politicians to channel populist fervor against government, and especially against the best interest of the population at large.
The government fails to serve to people at the point at which it swindles the populace into thinking that socialized cost, socialized risk, and privatized profit are in the best interest of the people.
At this point, government & private enterprise are one in the same. That is tyranny!
timbosforporn, this anti-tax rhetoric you just used is the key argument used by politicians to channel populist fervor against government, and especially against the best interest of the population at large.
I really don't think the govt should be interested in my best interest but should only let me serve my own best interest and every other citizen's best interest as they see fit. When they do that then best interest of the population at large will be taken care of.
The question then becomes, what does the 250,000+ income bracket mean in today's terms compared with the economy 3 decades ago or 2 decades ago, especially in real dollars. Superficial evidence of upward mobility doesn't tell the whole story.
There was rising standards of living in slave societies. Slaves were much better off in the early 19th century than in the early 18th century. Is that an argument for slavery? Its a terrible argument. In fact, you can give that argument for Stalinism.
Government is not an alien entity but it IS stealing our money and giving it to lazy bums who refuse to work. The real reason incomes grew is because you didn't have all this unregulated welfare and people had a work ethic. The other reason is because veterans from WW2 and Korea came back and invested their money and benefits in starting new businesses and creating jobs. Just like after WW1.
Its you whose foolish. We earned our money, we deserve to keep it not being punished for working hard.
What would be the point of running your own business if the govt is just going to consume everything what you make. That is the effect that high income taxes has on businesses because they don't want to expand just to see their money be gobled up by the govt.
The government is not an entity from another universe that steals money to waste it. A good government spends the money it got through taxes to offer public services for the benefit of ALL. And it will be the poor that will beenfit more. This is the fundament of the social contract, and it should concern you as well, unless you aren't concerned about people not being able to make a living, suffering from curable diseases, etc. in your own country, but then don't claim to be good-hearted.
Raising taxes for the rich is the dumbest idea I have ever heard. Think about it, the majority of people that have that much money are business owners. For example say I am a business owner that is now being taxed higher, all I'm going to do is turn around and mark up the prices on the products I'm selling. So it's just going to hurt you, the middle class who buys the product, even more. Interesting side note, the rich represent 1% of America, and they pay 40% of our nations taxes.
No moron, its going to hurt America when things are not being bought and there will be to much supply of a specific item and not enough demand. This drastically slow the economy. Plus, it would hurt you if I was the owner of a grocery store, and I raise my price and you won't be able to eat.
You being the owner of a grocery store isnt going to hurt anyone but YOU. As there are ALOT other ways to get food. OTHER THan purchasing them from an 1 single angry owner of a grocery store. THATS HOW competiton comes into the pcture. So the guy next to you will sell it less than what you are ..So YOU loose all your costomers to the guy next to you. So raise your prices and see everyone leave your store. PEOPLE ARE NOT AS STUPID AS YOU WOULD LIKE THEM TO BE.
Ok, thats what people thought about gas too. But guess what, there isn't one gas station around me under 4$ a gallon. Do you really think that if I had that much money, you not shopping at my store would damage me that much anyways? If your making that much money a year, a small drop in profit won't hurt you too badly especially when people are buying my products anyways and making up for your loss. If everybody else is selling at around the same price. It's called the trickle down effect.
Solution: Just cut spending. The government is too big
pf91rodman 1 month ago
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A progressive tax system gives corporations incentive to use their profits to reinvest into the company and hire more workers. A flat tax does not have the same incentive.
CesarManiaX 2 months ago
The rich stock holders and the bankers are the problem, but yes rich people are the problem here not the (almost extinct) middle class or the below that.
trabuco9 2 months ago
It's a progressive tax system. We all pay the same rates, based on your income level. A "rich" person making $500K is one person, and contributing approximately half his income, or $250K into the system when you add up Federal, State, Municipal, etc. A person making $50K is one person and paying virtually nothing. Plus, those so called rich people are also paying a lot more taxes on their assets like real estate. Most "rich" people are also working about 80 hours per week. They r not problem
jgpinc 2 months ago
wow you mean that people are trying to keep more of their own money, what a concept. Your an idiot. That is the problem with socialist like you. You think it's others money. So the people that pay 97% of America's taxes want to keep more of their money while 50% of America pays nothing and sucks us dry. What the hell are they thinking. Moron.
mztrzero 5 months ago
This is so stupid he rambles on about nothing, and it not even true. Rich people pay more in taxes in a year than any middle class. America has a scewed mindset, just because the wealthy have gained there wealth and are now sitting on it does not make them wrong. I would do the same. Bill gates might be rich but he has alot more stock than income, therfore he does not pay taxes on that stock. So stop bashing the rich they pay more, and will always pay more than anyone.
1sixwheeler 6 months ago
Its not fairness dumbass it is a capitalistic society!!!!! Tax them and they won't work.
myover10018account 7 months ago
Trust me a $180,000.00 a year is very far from being wealthy and for the most part you'll never know what these politicians really make they have a great way of hideing there kickbacks for doing what the real wealthy want them to do and by wealthy I mean these big corporations like G.E. that make billions a year and don't pay any taxes. It's no wonder our schools, police, fireman, are taking such cuts while the wealthy become even more wealthy. Balance the budget = rich tax break.
s46d45m17 7 months ago
WE are not losing anything, that isn't OUR money. Last time I checked we weren't living in 1950's Soviet Union, or Cuba. I can't believe people actually believe what this guy is saying.
critter505 7 months ago
well, you hoped for change cerk, obama had all the power, instead of intelligent tax legislation we got OBAMACARE. quit blaming the GOP you silly man
cloudshe 8 months ago
What people do not understand is the wealthy rule the laws because they pay to have our politicians vote for what benefits them the most, this is like the days of kings and peasents, we the middle class working people pay the wealthies fare share and we also pay our politicians wage and we pay for the poor, now out of these three I do not mind paying for the poor but paying the wealthies fare share is wrong and our politicians do not deserve a paycheck with all the perks they get.
s46d45m17 9 months ago
@s46d45m17 You don't contribute significantly towards anything, unless you make more than $180,000 a year. And, if you consider yourself middle class, I doubt you fit that category. Truth is, you only pay a consumer tax, (if your state has one), and that's pretty much it.
critter505 7 months ago
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I'm for the GOP. Give millionaires back exactly what they paid - with reasonable interest and not one cent more when it comes to Social Security, Medicare, VA, any government assistance. I watched a lady that inherited $2 million during her last 6 months of cancer. Medicare paid all her medical bills and she drew a SS check off her husband. She never worked or paid into the system. She died with $2 million dollars in the bank and with America in more debt than any time in history.
vechorik 5 months ago in playlist Conflicting Visions
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Tax Cuts=More money in pocket=More demand=More jobs
If the above equation is true, then why are there still no jobs after record profits for the past 2 yrs for American corporations? The super rich are sitting on TRILLIONS because there is no demand. There is no demand because there are no jobs. So what's the obvious answer? That's easy. Roll back the Reagan tax cuts, stop laying off teachers and policemen and use the tax revenue to create jobs that the private sector can't and won't.
GreggTheEgg 10 months ago
12 people that have came here to this video are rich
luc59457 10 months ago
Here's a shorter route: Tax Cuts=More money in pocket=More demand=More jobs
816cameron 1 year ago
Liberal Democrats hate the rich more than they love economic growth or tax cuts for the middle class. Democrats find it is more emotionally satisfying to punish the wealthy than it is to assist the non-wealthy.
BlackRepublican2010 1 year ago
@BlackRepublican2010 unclee tom
feeblechrist126 1 year ago
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THE TAXES! THE FINGER THING MEANS THE TAXES
CoolerKing37 1 year ago
all this is just typical capitialism and yet people in the united states praise it to no end while the middle class and the poor are nicked out of what little finacial resources they have. no wonder america is going bust.
doctorw2 1 year ago
@doctorw2 The top 1% pay 36%, top 25% pay 82.9% of our taxes and the top 50% earners pay 96.03% of all income taxes. The bottom 50% pay 3.97% of all income tax!!! That equates to 50% paying only 4 dollars out of every 100 dollars in taxes. So why is it you think the rich should pay more? I think they pay enough now. Instead of bickering over taxes we should be cutting government spending; thats the real problem. They have us too busy fighting amongst ourselves to worry about that though.
fluttervalve 1 year ago
@fluttervalve that is all wrong, the wealthy get unbelievable tax breaks especialy corperations who have ceo's who sell american jobs overseas they recieve huge tax breaks for doing that. the finacial elite can manipulate the system at will to their favour and yet american people like you with little or no finacial resources just accept this and let them pillage your pockets while they get away with almost any sort of infraction you could think of. that is UNACCEPTABLE!
doctorw2 1 year ago
just goes to show you what the Rich do.......hide there money in off shore accounts and only pay the taxes on U.S. accounts.........they been doing that forever!
jeepers2655 1 year ago
Who's the Friggin Rich? People that make $250,00 a year are Rich now? Thats a couple making 125,000 each, take out the tax they pay, whats left? These rae the people that donate and employ people. Tax them more and they will spend less & no longer donate & u will need to rely on the Govt for help & they will say, "We Are Broke" because we stimulated GM and Banks. I donated to a lady who has cancer, did the Govt help her? NO. Go after Billionaires who have their money around the Globe
rocksiphone 1 year ago
What a fool this guy is.
Maxwedge12000 1 year ago
bushs tax cuts worked actually in 2002 -2007 the highest number of minority bussniesses began to boom and the nations econemy and spending wnet well but the failure of it is simple lack of knowledge and croniesim created massive issues which lead to the 2008 crash
TheNekoman123 1 year ago
Not only people are doing this but American based corporations are doing it to.
jrhd00d84 1 year ago
I think everyone should pay the same percentage.End of discussion.
thegreatcratesofrock 1 year ago
@thegreatcratesofrock finaly i think we should pay a stadered 10 to 15 %tax on personal and bussniess no more than that finally someone wiith sense
TheNekoman123 1 year ago
in trickle down economics the rich are in theory supposed to be stimulating the economy with the extra money they have from the tax cuts. hahhaha. sounds great, but most of those rich people just sit on it and dont give a shit to donate. flat tax plz.
brainsbranes 1 year ago 5
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I hope all you unemployed, and soon to be unemployed inbred right wingers remember not one republican voted to extend unemployment comp!
AND, the very first thing they will do if they get the majority is to cut taxes for the wealthy elite. This is where thier hearts are at. How's that trickle down economics working for you? SUCKERS!!!
Vetwolf13 1 year ago
My uncle own a local bakery. He says yeah, all businesses will tell the government they want tax cuts, but it will not make them hire. What will cause a business to hire is when they have demand. A demand great enough that the current staff cannot handle the business. Also, when you are starting to lose business because your current staff is causing business to walk out, THEN you hire. If the demand is not walking in through the front door, the tax break will just go to the bottom line.
816cameron 1 year ago 21
@816cameron You and your uncle are looking at a microcosm of the economic affect of tax cuts. If you uncle gets to keep more of his money as would millions of other businesses, that money left in the private sector will collectively create jobs on a large scale. Unless your uncle takes that extra cash and puts in his mattress, it cannot help but create jobs somewhere.
Maxwedge12000 1 year ago
@Maxwedge12000 Not if it's used to gamble on derivatives or currency speculation or the like. Most "investment" is of this nature.
lordhighexecutioner 1 year ago
@lordhighexecutioner To claim that most investment money goes into derivatives or
currency speculation discredits you as being knowledgeable on the subject at hand.
Maxwedge12000 1 year ago
@816cameron -- You're right - tax cuts for the lower & middle classes are what mostly will increase demand & more hiring.
DillonDee1 1 year ago 3
@DillonDee1 Tax cuts are retarded period.
carnypimp 1 year ago
@carnypimp -- right - tax cuts are especially retarded when running a huge deficit
DillonDee1 1 year ago
@DillonDee1 Oh yeah, give the govt more money so they can throw it in the bottomless pit
rocksiphone 1 year ago
@DillonDee1 Oh yeah, give the govt more money so they can throw it in the bottomless pit
rocksiphone 1 year ago
@DillonDee Why should we should have to pay for the mess the politicians got us in? How about the Government actually cutting back it's bloated spending plan and paying down the deficit. I know that may sound outlandish but taxing the people is not the answer. Throwing out the "tax and spend" politicians and drastically cutting spending is the answer. According to the Treasury report the top 25% wage earners already shoulder 82.9% of the tax burden on the citizens. You want them to pay more?
fluttervalve 1 year ago
@fluttervalve - your statements are incorrect because you say the top 10% or 25% pay a certain % of "taxes" or "all taxes" or "our taxes".
You should say "income tax" because we have around 100 taxes in the country which are regressive - meaning the lower & middle classes are paying a higher % of income on taxes than the upper class.
As an example, the Iraq War was paid for in large part w/ Soc Sec tax which hits the lower classes w/ 15.3% while many in the top 10% pay less than .000001%.
DillonDee1 1 year ago
@DillonDee1 You cant cut the lower and middle much more than they already are. The bottom 50% wage earners pay only 3.97% into taxes. The top 25% in this country pay 82.9% of the taxes. That equates to the bottom 50% paying only 4 dollars of every 100 dollars in taxes. That seems like a good deal to me. If you don't believe the numbers look up the Treasury Department's report and prepare to be astonished about how you've been lied to.
fluttervalve 1 year ago
@fluttervalve - there has been such a redistribution of the country's wealth in recent years to the top 10% that they now have 78% of the country's financial wealth AND YET pay only 48% of the federal income tax
What makes matters worse is that we have many other taxes & they are regressive - meaning the lower & middle classes are paying a higher % of their income in taxes than the top 10%.
So you have the top 10% paying around 16% of income in tax as the middle class pays around 35%.
DillonDee1 1 year ago
@816cameron cutting taxes solves all of these problems...lower taxes for the rich/business owners, and they get more $ to invest/have more capita in genera. then the consumers have more $ to buy the business makers shit. if they have more money, and the owner has more $ from revenue and tax cuts, then he will hire more.
tax cuts=more money in pockets=more purchases=higher revenue=higher demand=more jobs
SERTYG 1 year ago
@816cameron But, will they fire them?
critter505 7 months ago
so lets see, the tax cuts for the rich for the past 8 years worked so well, we need to extending them. DOH! Tax cuts to the rich create BUBBLES -- The use the extra revenue for higher, riskier investments.
816cameron 1 year ago
Yea, thats why the Bush tax cuts are going to bring in over $200 billion dollars in revenue this, cutting the deficit up to 15%.. why dont you get a clue you liberal bastard
Noobcake13 1 year ago
@Noobcake13 so so dumb
hempartist420 1 year ago
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The people who shout 'tax the rich' can't seem to understand that our economy is linked. If you raise taxes on business owners the burden gets passed right back to worker in the form of lost jobs and increased price of goods. You're taxing yourselves.
freethinker77 1 year ago
i hope every fking scumbag retard azzhole repulscum tea bagger hear this video..
superwhiz88 1 year ago
Both republicans and democrats have cut and raised taxes on the middle class. The thing that creates wealth is what the money is being spent on. In the 90's, Clinton raised taxes a little bit on middle class, but spent money on laying down fiber optic cables to give us Internet access we enjoy today. That higher tax rate helped us create millions of new jobs. The recession in 2001 was laying off workers who were fixing the Y2K issue.
skwira001 1 year ago
how do "tax cuts for the rich" work?
is there a bill that says give the top 25% wealthiest people tax cuts of so and so percent, and give the other 75% less of a tax cut?
i really want to know because im not sure
AntiVenomFangX 1 year ago
Pay the rich for being rich. Charge the poor for being poor. The corporate way. Notice that it's not the American way, just the corporate way.
MagnesDrachen13 1 year ago 9
Fiscal conservatives argue that the more money the rich have the more it trickles down to the masses, but evidence shows otherwise. The richer they are the more likely they are to avoid paying taxes and the more likely they are to hide their money in overseas banks!!
MeteGuebo 1 year ago
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keredmieles 1 year ago
Commenters who are posting in opposition to what this video is talking about are confusing tax brackets with actual tax paid. Warren Buffet is in a higher tax bracket than his secretary, but after all his tax deductions because of the breaks the rich get, his actual tax paid percentage-wise compared to his secretary's actual tax paid percentage-wise IS less.
Farns1977 1 year ago 3
Huh? If Warren Buffett doesn't do tax shelters... how is he only paying less than 20%?!
YuanMizzle 1 year ago
Not to defend him, but Warren Buffet's sole source of income is from long term capital gains which is currently taxed at 15%. He does not have a salary which would be taxed at the maximum federal level of 35% (and whatever state taxes apply) on top of the capital gains. This is how he "gets away with" paying "so little" in taxes. Considering he makes tens to hundreds of millions in long term capital gains, his "so little" taxes is more than probably most of us even earn in a year combined!
98rider 1 year ago
Yeah, you only have to pay social secuity only on the first $100,000 you make. Social Security is a really regressive tax.
FightTheCorporations 1 year ago 3
YO, fuck the rich.
PizzahutCrocodile 1 year ago
Only if it gets me pregnant and earns me some really good child support.
Dhesyca 1 year ago
Great Sport. How is wealth taxed? As far as I know wealth is not taxed. Income is taxed. Use proper terminology. Wealth is a stock. Income is a flow. My idea is that the federal government be restricted to doing what it was designed to do and Warren Buffet and the rest of the rich liberals pay for all of the programs that they want. I want true capitalism. Let the beast loose.
Jonasinc1 2 years ago
If your employer gets taxed more, do you have a better or worse chance of getting a pay raise?
The government doesn't send checks to me, so my only hope for advancement is through my employer, so I want him to be cash heavy as much as possible.
jjrglobal 2 years ago
@jjrglobal: they're not talking about the money kept by the company to keep the business going...they're talking about the personal income of the CEO's; money that you'd never see anyway.
Dhesyca 1 year ago 4
I think we all pay too much in taxes, including the rich, and the government pisses it away on bullshit. Our government is plenty big enough and they collect ar too much in taxes
jjrglobal 1 year ago
What he's talking about is the capital gains tax that's 17%, so if you want your taxes to go up on your 401k then you want capital gains taxes to go up, which will mean less investment in the private sector and bigger government
jjrglobal 1 year ago
I dont think people should be able to get very rich...and I don't think anyone should be "poor"
catgumart 2 years ago
You do know that even more than that is being sent from illegal workers in the USA to India and Mexico. TAX FREE. Offshore accounts are peanuts compared to the cash that is being sent from illegals to these countries. We only hear what we want to hear. We only hear what we want to believe in. Democrats/Liberals, Republicans/Conservatives, are all the same. Agenda, Agenda, and more Agenda.
Will someone please revive the founding fathers of our great nation? PLEASE???
joeyneedles66 2 years ago
how is it not fair? if you where in the same position as "they" were, you wouldn't be sitting up there talking.
phaia06 2 years ago
$100 billion a year is nothing compared to what obama is spending. Also, way to personify those evading taxes as rich republicans, you may want to note obama's several democratic nominees for various roles in his administration who have been forced to withdraw because of their tax-evading pasts.
Regarding taxes, we shouldn't expect the rich to pick up our slack. America is a land of unlimited opportunity, raising taxes on the wealthy undermines the foundations of the country.
pelirojo07 2 years ago
Dont for the trillion wasted to murder innnocent iraqis in the name of terror.
xj2yzz 2 years ago
Why don't liberals pay taxes? Why don't they just pay for all that welfare garbage.
mainestategop 2 years ago
Are you friggin kidding? Its working class who carry the load of taxes and most working class people are NOT republican...
AtheistScholar 2 years ago
Why do you think they are? You think if you tax a landowner he's not going to force the cost on his tenants by raising rent? In Maine where I live we have one of the highest burdens in the countrty and our taxes are considered the most regressive. We have one of the highest poverty rates in America. Contrast this to states likie Nebraska and New Hampshire that have low taxes and less poverty.
Bottom line. You squeeze the rich its the poor that get pinched.
mainestategop 2 years ago
And the fact that they are NOT Republican is just foolish of them. The Govt. is taking their money away to then redistribute it through "social services" such as welfare. They should be getting pissed off, not smiling like idiots and bowing down to Democracy. Equal my ass.
narutoyondaime14 2 years ago
be careful what you wish for TYT
bobsandwich98 2 years ago
So why doesn't every citizen contribute $5, EVERY CITIZEN and hire our own lobbyists to change the rules...??
ealfinez 2 years ago 2
Lobbyists aren't needed, just an angry populace marching in the streets threatening to storm congress like the Bastille is... But Americans are too chicken shit and stupid to do anything like that.
AtheistScholar 2 years ago
You believe that lobbyists aren't needed. I completely disagree with your opinion. I think lobbyists ARE needed.
Exactly how does storming Congress replace hundreds of experts in their respective fields...?
Senators can't know everything about everything. They need someone to approach them and present the different points of view, else they would just vote on everything without sufficient knowledge of the subject.
dbthunder20 2 years ago
Or they could quit interfering in things they know nothing about and dont have the constitutional authority to be involved in, like running an auto manufacturing company
jjrglobal 2 years ago
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Tћіѕ іѕпт ƒаκє арраяєптℓч іƒ υ сорч раѕтє тћіѕ то тєп рєорℓє іп тћє тћє ηєχт тєп міпυтєѕ чоυ шіℓℓ ћаνє тћє вєѕт đач оƒ чоυя ℓіƒє томояяош чоυ шіℓℓ єітћєя gєт а κіѕѕ оя вє аѕκєđ оυт вυт іƒ чоυ вяєаκ тћіѕ сћаіп υ шіℓℓ ѕєє а ℓіттℓє đєаđ gіяℓ іп чоυя яоом топіgћ
moofintoofinloofin 2 years ago
The real fat cats can sustain their fortunes simply by having their fortunes, and are unaffected by taxes. The reason we have not gone after these people is because if we do try to tax them, they will simply move their money to another country.
When you hear about 'taxing those who make over $250,000' as the Obama plan lays out, Obama is talking about income tax, which means he is talking about taxing those who contribute to the economy.
AnduinX 2 years ago
If you tax small business owners, they compensate for higher taxes in one of four ways. They increase the price of their goods to make up for lost money, they decrease the pay of their workers, they fire unnecessary workers and get by with a skeleton crew, or they go out of business/move to another country to do business.
AnduinX 2 years ago
If you raise taxes on a landlord, the landlord will compensate by raising the price of rent...
The point is, if you're taxing the "rich" that contribute to society YOU pay for it with your wallet. This is because like the human body, the economy is linked. You can't drain the life out of one sector of the economy and not expect a shitstorm for yourself.
AnduinX 2 years ago 3
Very well put. =)
narutoyondaime14 2 years ago
Government uses your anger and envy towards the rich coupled with your lack of understanding of the economy to expand itself at YOUR expense.
In essence there is one true underlying debate beneath the smoke and mirrors, we can move towards bigger government and public programs, or we can revert back to small government, freedom, and individuality - thus returning the wealth to the hands of the people.
I prefer the latter.
AnduinX 2 years ago 3
Hear! Hear!...well said
98rider 1 year ago
we all should learn from the rich.. and become the rich too..
pr0gm3r 2 years ago
The only reason Bush's tax cuts failed is because it went only to the rich. They then sent jobs overseas and brought over illegal aliens. Those tax cuts should have gone to everyone and any CEO that outsourced should get nothing.
mainestategop 2 years ago
democrats are not better on taxes for the middle class. just wait for the 8-900 billion in energy taxes. That will target the middle class and make the amount the rich tax evaders pay in (Something like 100 billion a year?) seem small.
It's about class warfare kids. and like any pertinent person I'm less concerned with taking sides than the fact that sides are being taken. The South Africanization of America has begun.
cruzander 2 years ago
Tax the rich. The reason it makes sense is that rich people, instead of paying the tax, find investments. Now they just sit on their cash. Tax them higher and they will take every penny they can and find ways to invest it.
tallcoolone1 2 years ago
this is so true..middle class get a small tax cut the rich get hugh tax cuts
victor2cutube 3 years ago
How many of you work for poor people? Rich folks pay your salary(or welfare), and 80+% of your taxes! Don't be an idiot and shot your job in the foot by raising taxes on the "rich". Class envy is just foolish and people that believe you pay more taxes than your boss shouldn't be allowed to drive a car(because your a retard)!
locustnhoney 3 years ago
If we look at income Growth by Quintile, we find that from 1950-1978, the income growth of the lowest 20% grew 138%, the income of the 2nd 20% grew 98%, the income of the 3rd 20% grew 106%, the income of the 4th 20% grew 111%, and the income of the highest 20% grew 99%.
Whereas from 1979-1993 the income growth of the lowest 20% grew -15%, the income of the 2nd 20% grew -7%, the income of the 3rd 20% grew -3%, the income of the 4th 20% grew 5%, and the income of the highest 20% grew 18%.
Bacchant33rd 3 years ago
Wake up !.... (Poor & Middle ) Class Republicans O'reilly, Limbaugh, Hannity only pay on average
17% in taxes, You & I pay about 32%... almost double. Those guys don't give a shit about you or me all they care about is convincing you to vote Republican so they can keep their tax break !
douglask1976 3 years ago 19
@douglask1976 Limbaugh and all the political talk shows are all sales people. I don't think people realize that. They are selling their product by getting more TV ratings, selling more books, and selling their companies like investment firms. It's all about sales pitching. YoungTurks are doing it too, but they are closer to reality than the right.
skwira001 1 year ago
@douglask1976 You might want to check out the treasury dept report. According to it the top 1% pay 36% and top 25% pay 82.9% of our taxes and the top 50% earners pay 96.03% of all income taxes. The bottom 50% pay 3.97% of all income tax!!! That equates to 50% paying only 4 dollars out of every 100 dollars in taxes. So why is it you think the rich should pay more? I think they pay enough now. Instead of bickering over taxes we should be cutting government spending; That's the real problem.
fluttervalve 1 year ago
@douglask1976 Well Doug, you know your stuff! The administrative assistant of a CEO of most large corporations almost pay double in taxes than the CEO! Somethings gotta give here!
phillipmarch22 1 year ago
If you make less than 200,000 dollars a year & you vote Republican you're a total SUCKER!. Rich people Reagan, Limbaugh, Hannity & so on.. Convinced you the ( Poor & Middle class) that if you give them more money you'd be better off
Say this 3 times in your head
Rich people convinced me that I''d be better off if I give them MORE money say it 3 times in your head!.
douglask1976 3 years ago
Republicans gave tax breaks to the rich for the last 8 years & we are now in a Depression with 7% plus
Unemployment. Where's all those jobs you're talking about?. The trickle down affect doesn't seem to be working for 98% of the American people
douglask1976 3 years ago
I am sorry but when the bottom 40% isn't paying income taxes why do they need a tax break... they don't. So who provides the wealth and the jobs in this country... The rich.. The Wealthy... Not the poor...
When you give the job providers a tax cut they are able to hire more employees. When you tax them more they raise prices and fire/lay off employees. This is the truth about economics not what you are spitting. Welcome to life you 35 year old still living in his moms basement...
Tawalkana 3 years ago
cenk is dead on with this point. ceo's need to figure out who is going to buy their product if the average can't afford to buy it. these people have more money than what they know what to do with and alot complain about paying higher taxes. like the oil companies say they pay 10.1 million or whatever a year in taxes forgetting that they are racking billions profit. fucking ludicrous
melowar78 3 years ago
Young Turk, there are too few people who share your view on this topic in the USA. Unfortunately this is a lost battle.
acfiorentina 3 years ago
Its a lost battle and a lost country. Wait and see.
zzzbbb123456 3 years ago
My own country is hopeless, for a whole lot of reasons. It sucks to be caught in this mess that a few greedy people created.
acfiorentina 3 years ago
I agree with every word the Young Turk said. Unfortunately, in the USA one is considered a communist if one supports fiscal equity. Well, communism is a completely different issue, and has nothing to do with people's contributing in a just way to the public expenditure. Besides, if I were rich I wouldn't mind paying in taxes 40% of what I earn beyond 1 million dollars a year; those who would be (or are) concerned, are either crazy or unreasonably greedy.
acfiorentina 3 years ago
Anything else is just PURE GREED. FUCKING GREED. You know, one of the 7 deadly sins? You know? The bible says that a camel has a better chance of going through the eye of a needle than a rich man does in getting into heaven. But wait, aren`t republicans the `conservative christians` and yet they are the ones who constantly give tax breaks to the rich. WHAT!
wpditerl 3 years ago
Its not a "punishment" to tax the rich it IS GIVING BACK TO THE COUNTRY THAT ALLOWED THEM TO BECOME RICH IN THE FIRST PLACE. It makes perfecet fucking sense, christ! They will STILL BE RICH with higher taxes, its not like they will be out on the street! The price of success is GIVING BACK TO THE COUNTRY THAT GAVE YOU THE OPPORTUNITY. They should be HAPPY TO DO IT.
wpditerl 3 years ago
Andjusticeforme you're just as ridiculous. The rich deserve the tax cuts because they create jobs? REALLY? You didn't listen to this video did you. The issue isn't whether the rich are creating jobs, the issue is that they are GETTING TAXED THE LEAST when they can afford MUCH MORE. So somehow the rich should be taxed less? There are people starving but someone with enough money for 10 families should be taxed less? Taxing the rich isn't a "punishment" IT IS THE COST OF THEIR SUCCESS!!
wpditerl 3 years ago
And mbvtx77 you are exactly the kind of person I am talking about. You REALLY think there is equal opportunity to become rich? Are you some kind of maniac? "shut up and get a job, don't worry about anyone else" this is your advice? You silly ignorant boob. Yes ignore the rich raping the middle and lower classes. Yes EVERYONE who isn't rich is just lazy. You don't think there is a system set up so that the same people STAY rich generation after generation?
wpditerl 3 years ago
The problem is republicans have become so incredibly brainwashed that they seem to think taxing the rich more is somehow "punishing" them for making more money. For gods sake it should be their DUTY. What this guy says it absolutely true, if you tax the rich more, what they will only be able to take 3 vacations a year instead of 2? It is SO OBVIOUS that the rich should be taxed more. Republicans are all about big business, they use religion to pacify their followers and then favour the rich.
wpditerl 3 years ago
turkey is very tasty.
externalpower 3 years ago
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Hellowalex 3 years ago
Bush and McCain prove that what the bible said about the rich is TRUE !
kn9iou 3 years ago 3
what the fuck is wrong with assholes mocking rich people?how did they get rich,by u assholes buying their products!!
sshapewa 3 years ago
they get rich because you take out loans to buy their products.
divinewords 3 years ago
nothing and everything. there are folks amidst the rich folks who have .. well.. cheated to get their money, they robbed someone via official means, all bad to the normal folks like you and me. those deserve all the blame and mocking they get. and then theres the few who are honestly rich (sic), they're rich because they know good business manners and play accordingly. nothing "mockable" about them. its all relative, but money gives no immunity for commentary against them should it be necessary
somberlight 3 years ago
this guy is an idiot
i need to be rich!
2MuchSkill 3 years ago
This comment has received too many negative votes show
the top 10% of the wealthiest people in this country pay 70% of the total tax bill. what the hell are these people talking about??? most poor people in this country have/had the oppurtunity to make something of themselves, but intstead they just sit around waiting on the government to always bail them out. why should people that have earned their money have to give a bigger percentage away? democrats are responsible for 90% of the taxes we pay anyway. i wish libs would shut the fuck up!!!
mbvtx77 3 years ago
They also have control of 70% of the wealth in this country. Damn right they should pay 70% of the tax bill. They live in a system that has allowed them to get huge sums of wealth.
captainspirou 3 years ago 2
you're damn right that they live in a system that has allowed them to accumulate huge sums of wealth. you have the same oppurtunity!! that's one of the things that makes our country great. the oppurtunity to prosper. shut up and get a job. make your own money and don't worry about everybody else.
mbvtx77 3 years ago
You act like the richest people got there by themselves making everything that got them there. They need other people to get rich. The people that they are currently screwing over. You seem to be perfectly fine with enormous wealth inequality. That's how revolutions get started. A few rich people at the top and a lot of poor people at the bottom is an unhealthy society. Read your history.
captainspirou 3 years ago 2
of course it takes other people to help people get to the top. unless you win the lottery i guess. people that get rich usually create a product that other people need. something that has a high demand. that's how people get rich. some people just inherit their wealth, but oh well that's their luck. quit bitching. apply yourself and maybe you can have a little success and create your own wealth. nobody that has money owes you a damn thing.
mbvtx77 3 years ago
And even more people do nothing. All they do is use their money to make more money. They've never been on the manufacturing floor. All they see are numbers.
And if I ever get that rich I will be more then happy to pay my taxes. Even at 40%.
captainspirou 3 years ago
if you ever get rich i will expect you to give away 99% of your yearly earnings. keep just enough for yourself to pay the light bill and make the rent payment in your run down one room apartment. you can give the rest to the government and let them waste it.
mbvtx77 3 years ago
We'll see. I've never seen anyone who tells other people to pay taxes pay the whole 36%, ie. Warren Buffet and all the rich politicians, Obama, John Kerry, Al Gore, etc. They all take deductions and telling other people to pay the taxes. And one more thing, why don't you just sit there and see if money comes to you. It's either the parents making it rich for themselves or they passed it on to their descendents. And remember, who's paying for your salary? It's the rich or coporates, not the poor.
ltl74 3 years ago
That isn't how most people get rich. Most people get rich by hoarding a commodity, such as real-estate, through inheritance, or through connections, like CEOs. Extremely few people get rich by creating something.
TheGiantRobot 3 years ago
Yeah right. Bill Gates got rich by standing on the backs of his friends and then lawfully stealing every other companies products. Typical rich guy. Not that all rich people are like that. Just the billion and hundred million aires.
obamawalker 3 years ago
i'm by no means wealthy, but i don't complain about anybody that is. i could use a few extra dollars every week to pay the bills. rich people do pay their fair share. just because someone has millions doesn't mean that they should have to pay 60 or 70 percent of their earnings or net worth to the government. that's bullshit. if someone wants 10 houses and 20 cars and they can afford it, then so be it.
mbvtx77 3 years ago
Revolutions! Come on. Calm down. You just made a fool of yourself.
obamawalker 3 years ago
I'm not making a call for revolution. But if you study the revolutions of the past it's almost always because there's a large number of poor people and a small number of rich aristocrats. That was certainly true of the French Revolution and the Russian Revolution.
Either way, to say income inequality isn't a problem is ignoring the past.
captainspirou 3 years ago
The top 1% richest people in the US pay 32.1% of total traxes. The top 10% pay 65.2% of the taxes. To be in the top 10%, you must make about $97,000 a year. Please research who pays the taxes before making those statements. My source is Investor's businesss Daily.
jsgoodfella 3 years ago
If you were responding to me then I don't see how how those figures contradict what I said. Unless you're making a big deal about 5%.
captainspirou 3 years ago
Look up exactly how bill gates got so rich.. He BOUGHT the Patent idiot. And then the guy he bought it from became rich anyways. Dumb asses....
0oticklpiklo0 3 years ago
The rich deserve the tax cuts. They are the ones who run the businesses and provide the jobs. Ever try working for a poor person? I would love to know how that worked out for you. Chances are, you quit to find a higher-paying job. Well, who provides those jobs, geniuses? That's right, kids, the wealthy business owners. This really isn't rocket science. Well, for some, maybe it is.
AndJusticeForMe 3 years ago
This comment has received too many negative votes show
YOUNGTURKS
you are a stupid fucking idiot, your a liberal dick, your views are biased and bullshit, you should get a job with a real media company, fuck you and your nigra obama
gottaluvgw 3 years ago
This is like some absurd secret. Everyone knows but no one will talk about it.
This clip should run on TV. It's a story of a simple fact that should outrage the U.S. citizen until something is done about it.
DrakeMagnum 3 years ago 2
First of all are taxes should be lower so people will try and make more money and next these tax cut work. The bottom 48% of population does not pay tax and the top 25% earner pay something over 80% of the all taxes.
manwihthat 3 years ago
And yet we still wonder how the rich got to be so rich in the first place.
sweetfreek 3 years ago 2
HAHAHA you are advertising BANK OF AMERICA while you talk about unfair economic practices.
L-A-M-E
oldhacks 3 years ago
FAIR TAX!!! everyone should pay the same. The congress won't ever do it though cuz it takes away their ability to talk about changing taxes every election. National Initiative we as a majority of hard working tax payers would vote in a heart beat to sock it to the extreme minority of billionaires.
oldhacks 3 years ago
Do you know how much money I am losing because people like you in this country complain how much taxes I am not paying? Do you know how much money the single mom in this country is losing because people incongress like to spend? Do you know how much money is being taken out of our economy because the govt wants to keep it?
timbosforporn 3 years ago
I met Warren Buffett once but alot of folks do here in Omaha he goes around the city like its nothing hell 6 monthes ago he got into a car accident getting Bronco's hamburgers which I won't even eat that crap but still funny that a billionaire or however much he is worth and he still eats fast food
boundless1986 3 years ago
GREED is America's No#1 This country is a God-dammed Disgrace! Im fed up!
rextrek 3 years ago 8
If greed is a sin then its a sin that will be judged on those individuals by God. Now I assume you are not a greedy person so you shouldn't worry about what other punishments other people will recieve in the after-life. Assuming you believe in all of that.
timbosforporn 3 years ago
I don't care if greed is a sin. I would like to see some well being, justice, some peace on earth. If greed is an obstacle, than greed needs to be fought HERE and NOW.
acfiorentina 3 years ago
Then that is your choice and respect that but you should do that with your own money and people who think like you. Please voluntarily hand your money to the government and have them redistribute it to other people but let others keep their money.
timbosforporn 3 years ago
I must not have been able to explain clearly enough the concept of "society". Society is somewhat like a non-profit company: everyone must contribute for its well being, and not just SOME partners. My money alone would not be enough. Mine and yours and everybody else's are to taken into account to see how much well being that society can guarantee to all its members. And, again, this is NOT communism. Please read my previous comments about distribution of wealth in favor of (rich) home owners...
acfiorentina 3 years ago
"Society is somewhat like a non-profit company: everyone must contribute for its well being"
And the only way that happens is through the govt? People donate money to charities all the time and probably equal to that of govt charity (aka welfare programs). Your personal property and money is yours and can't be touched by the govt else it would be the govt's property. That 10, 20, 30% you involuntarily "donate" to the govt is the govt's money so 30% of your time at work is for the govt.
timbosforporn 3 years ago
The BEST way that should happen is through the law, i.e. through the Government, which should pursue the society's interest. Simple. Charities are welcome, but they can't (and in fact don't) substitute the Government. If we leave it to charities than one might decide not to contribute, and that would NOT be fair with regard to those who do contribute. You seem to consider the Government like a foreign malicious entity. The Government represents the interests of the Society.
acfiorentina 3 years ago
Citizens might not want to help sometimes because they might feel that there money is not needed or not put to good use and sometimes they use that money for themselves which helps "society" because they are a part of the society. Allowing each and every person in a society to do with their own money and property helps society more than a govt that feels it has to consumer and spend all of our money.
And yes, govt is a foreign malicious entity.
timbosforporn 3 years ago
Your last sentence says it all. It's useless to keep talking with you. Unfortunately there are too many people who consider themselves to be good-hearted, who go to churches, who claim to be christian, who stick a fish logo on the back of their car, but then have such an egoistic approach to life when it comes to "love thy neighbor". I'll only add that if employers paid their workers a decent salary, then there would be less need of wealth distribution. I'll not reply to your posts anymore.
acfiorentina 3 years ago
"I'll not reply to your posts anymore."
Does that mean you are giving up?
timbosforporn 3 years ago
Know what's foolish? Treating govt like an alien entity stealing from you.
When the top tax rates were truly high from 1950 to 1978, American income at all levels grew at about the same pace.
But when progressivity was lost in the 80s, the income of the poor began falling, while that of the rich continued growing.
Personal income tax rate for the top bracket in 1945 was 91%, from 1946 - 63 was 88%,from 1964-81 was 70%, from1981 - 86 was 50%, in 1988 was 28%, and in 1991 was 31%.
Bacchant33rd 3 years ago 2
I think most people are moving up the income latter. If you look at the number of people that have progressed to the 250,000+ income bracket you would see that it has increased. I know this because when it was firtst enacted it only effected a tiny percent of the populace but know it effects quite a few more people. All progressive income tax does and is designed to do is to keep people in the same income brackets which sounds like a cast system.
timbosforporn 3 years ago
I don't think the govt is a foriegn entity but I do believe that government power is derived from the people and when govt ignores people's wishes not to be taxed and certain politicians use crafty arguments to get their tax increase then I feel that they are now acting independently of the people. At that point government becomes a foreign entity or dictatorship and those have not legitimacy for those that believe that govt power is derived from the people.
timbosforporn 3 years ago
timbosforporn, this anti-tax rhetoric you just used is the key argument used by politicians to channel populist fervor against government, and especially against the best interest of the population at large.
The government fails to serve to people at the point at which it swindles the populace into thinking that socialized cost, socialized risk, and privatized profit are in the best interest of the people.
At this point, government & private enterprise are one in the same. That is tyranny!
Bacchant33rd 3 years ago
timbosforporn, this anti-tax rhetoric you just used is the key argument used by politicians to channel populist fervor against government, and especially against the best interest of the population at large.
I really don't think the govt should be interested in my best interest but should only let me serve my own best interest and every other citizen's best interest as they see fit. When they do that then best interest of the population at large will be taken care of.
timbosforporn 3 years ago
Everytime government decides our best interests, they create the exact opposite. Government is not the solution, it IS the problem.
mainestategop 2 years ago
The question then becomes, what does the 250,000+ income bracket mean in today's terms compared with the economy 3 decades ago or 2 decades ago, especially in real dollars. Superficial evidence of upward mobility doesn't tell the whole story.
There was rising standards of living in slave societies. Slaves were much better off in the early 19th century than in the early 18th century. Is that an argument for slavery? Its a terrible argument. In fact, you can give that argument for Stalinism.
Bacchant33rd 3 years ago
Government is not an alien entity but it IS stealing our money and giving it to lazy bums who refuse to work. The real reason incomes grew is because you didn't have all this unregulated welfare and people had a work ethic. The other reason is because veterans from WW2 and Korea came back and invested their money and benefits in starting new businesses and creating jobs. Just like after WW1.
Its you whose foolish. We earned our money, we deserve to keep it not being punished for working hard.
mainestategop 2 years ago
I've made a lotta money in 1 yr & I've made little in 1 yr & it's a lot easier to pay when I make more.
And, yes, I've run my own business & whether I expand or not has to do with demand, not tax cuts.
We should have a progressive tax rate in this country, but instead Cheney is paying 1/2 the % in taxes that I am. SOMETHING IS BAD WRONG!
THE MASSIVE TAX CUTS FOR THE SUPER RICH DID NOTHING TO HELP THE DOW, THE UNEMPLOYMENT RATE, OR THE OVERALL ECONOMY. JUST ANOTHER BUSH FAILURE!
DillonX 3 years ago 2
What would be the point of running your own business if the govt is just going to consume everything what you make. That is the effect that high income taxes has on businesses because they don't want to expand just to see their money be gobled up by the govt.
timbosforporn 3 years ago
The government is not an entity from another universe that steals money to waste it. A good government spends the money it got through taxes to offer public services for the benefit of ALL. And it will be the poor that will beenfit more. This is the fundament of the social contract, and it should concern you as well, unless you aren't concerned about people not being able to make a living, suffering from curable diseases, etc. in your own country, but then don't claim to be good-hearted.
acfiorentina 3 years ago
Raising taxes for the rich is the dumbest idea I have ever heard. Think about it, the majority of people that have that much money are business owners. For example say I am a business owner that is now being taxed higher, all I'm going to do is turn around and mark up the prices on the products I'm selling. So it's just going to hurt you, the middle class who buys the product, even more. Interesting side note, the rich represent 1% of America, and they pay 40% of our nations taxes.
csvc 3 years ago
No its gonna hurt YOU WHEN WE DONT HAVE THE MONEY TO BUY YOUR PRODUCT!
DRDNIBOY 3 years ago 2
No moron, its going to hurt America when things are not being bought and there will be to much supply of a specific item and not enough demand. This drastically slow the economy. Plus, it would hurt you if I was the owner of a grocery store, and I raise my price and you won't be able to eat.
csvc 3 years ago
You being the owner of a grocery store isnt going to hurt anyone but YOU. As there are ALOT other ways to get food. OTHER THan purchasing them from an 1 single angry owner of a grocery store. THATS HOW competiton comes into the pcture. So the guy next to you will sell it less than what you are ..So YOU loose all your costomers to the guy next to you. So raise your prices and see everyone leave your store. PEOPLE ARE NOT AS STUPID AS YOU WOULD LIKE THEM TO BE.
DRDNIBOY 3 years ago
Ok, thats what people thought about gas too. But guess what, there isn't one gas station around me under 4$ a gallon. Do you really think that if I had that much money, you not shopping at my store would damage me that much anyways? If your making that much money a year, a small drop in profit won't hurt you too badly especially when people are buying my products anyways and making up for your loss. If everybody else is selling at around the same price. It's called the trickle down effect.
csvc 3 years ago