I agree with this but what about debt based monetary system and the government owing money to the higher financial institutions right from the get go? What about the cost of wars and so much other nonsense? I had no idea the tax code was longer than the bible or that each line has an interest group behind it. Crazy. reality is stranger than fiction. Blessed are the poor for theirs is the kingdom of heaven. Woe unto the rich, for they have had their fill!
He gives away billions to worthy causes. yet people trash him. Because he is rich.. If he was materialistic, he could live in Beverly hills, and own 5 different cars; but he's lived in the same house in Omaha for over 40 years. common sense goes a long way. he has a ton of it.
Warren Buffet is a Goldman Sach's nadlicker. I'd throw that cheap prick out of my restaurant any day of the week. He can take his 10 percent tip and stick it up his geriatric backside. He's just another financial parasite that has used insider trading advantage to hoard and control strategic income-producing assets. I've never bought another box of See's Candie after that money grubber took over the assets. Boycott all Buffet businesses until the old goat croaks.
@skaha65 Your mentality is what's wrong with America. I guess you would consider a bank robber or purse snatcher or crack dealer successful if they had obtained some wealth and didn't get caught while doing the act. Buffet is no different, only morons like yourself buy into his nonsense and put these market thieves on such a high pedestal.
Ok for any and all new viewers of this video, the point being made in this video is simple. Raising Capital gains will have no impact upon investment. The "Rightwing Talking Point" is simple you can't raise taxes on the supposed "Job Creators" A master investor like Warren Buffet is aware of this fact. He,along with many others, have made money in all different tax rates. 15% is just to DAMN LOW!!! Wars,Education,Infrastructure COST MONEY. We of the INCOME EARNING CLASS can't pay for it all !!!!
Warren Buffet just wants his competitors to have to pay more taxes while he keeps his money offshore, he talks about his PERSONAL taxes but i'd love to see the tax his companies pay.
@frankz00 That you will not get an argument from me. But again you change topics. Stick with the videos message. Capital gains rate and investment in the economy. That's what this video is about and nothing more. One issue at a time please. A poor country is not a superpower, and a destroyed middle class is not democracy.
@frankz00 Yeah. The only "absurdity" is buying into a hypocrite whose ACTIONS are the direct opposite of what he preaches. When he starts writing those checks, I'll start believing these sob stories.
@ASearchin The only absurdity is buying into a hypocrite whose actions are the direct opposite of what he's preaching! When he starts writing some checks, I'll start buying his sob stories...
@frankz00 You truly did miss the pint of this video and quite frankly so have many others. The purpose of this video is to illustrate the great "LIE" perpetrated by the Capitalist's. The mantra is simple "Don't tax us so we keep more money for ourselves to invest in the economy" He states perfectly clearly that this MANTRA is BULLSHIT!!
@Tdriver1205 They make money at 15% capital gains or at 35% capital gains. With our nation running deficits and conducting war on several fronts to protect their interests it is OK for us a people to ask them to simply pay up some for the costs incurred while protecting their INTERESTS..
0% of income taxes collected by IRS pays for any government programs of any kind; it only services the national debt/interest charged to the Treasury by the Federal Reserve. Income tax pays for ZERO.
@Tdriver1205 in my pursuit of law and the truth; whenever you hear talk radio or newscasts reporting about federal and state income taxes (not import duties or tariffs or sales taxes which are legitimate) --you are hearing absolute and total rubbish. You are only paying the interest incurred by the US govt borrowing money --which is not within your control or responsibility. Use Google for the info, it's your friend in this case.
@bonzelite Actually 2/3 of taxes pays for government programs like defense and entitlements. Only 1/3 of taxes goes to pay for coupons from the bonds the Treasury sold, not 100%
@MrStevieification "100% of what is collected is absorbed solely by interest on the Federal Debt ... all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government."
-Grace Commission report submitted to President Ronald Reagan - January 15, 1984
@bladimz It is human nature i suppose. Most Americans i have met seem to be caring people. It is natural for people to also blame others for their lot in life. If we all took a little more responsibility for ourselves and our children all societies would be better off.
Yes he is behind on his taxes like all other great capitalists he is using a legal maneuver, that is in the tax code, called "deferment" A tax bill due in 2000 that is paid in 2010 dollars is cheaper. Working class stiffs don't get that neat lil trick now do we?? This is why you all need to vote for Mitt Romney or Newt Gingrich so he "Warren Buffett" can keep that neat lil trick...so he can create jobs... in Indonesia....Phillipines....China...Belarus...Pakistan...not here of course....
@RockinReminiscence Create a vacuum of power and it will be replaced by another group of people who are just as bad. The ONLY solution for humanity is for all the nice people in the world to rise up... sadly they won't do that because they are too 'nice'.
Income taxes & capital gains are completely unnecessary if US made some changes:
1-If the U.S. printed its own debt-free money, it could loan it out and use the interest collected to pay for social programs (end the FED)
2-Scrap the electoral college voting system and use citizen popular voting for matters of elections, monetary policy, and any decisions on warfare (end the Congress)
3-Bring the military back home and scale it way back (end the warmongering)
Warren Buffet is the liar here... That joker invested in Bank of America to get the preferred shares which means he gets paid when the government bails them out (with our money of course) and the normal shareholders get wiped out! He's faking everyone out with his gentle old man act! If that fraud cared about "the people", he wouldn't be so busy getting these sweetheart deals behind the scenes! If anything, he should be pushing for everyone else to get the same tax rate as him!
@frankz00 I believe you are correct. Just because WB's tax bill is X doesn't mean he can't write a check for ten times as much. The government won't mind. "Please tax me" is an unfortunate ruse.
Sadly, even if he's taxed at 100% - along with everyone else in his nearby bracket - it still wouldn't cover our FY budget, let alone debt. IMO, unless there is a major shift in financial education for a majority Americans we will be for all intents and purposes without a middle class in my lifetime.
@nepalihercules Yeah but he acts the exact opposite. Why not get the same Bank of America shares that the "little people" get if he's so concerned about fairness. It's an act! He still hired the accountant to take ALL of the tax advantages. He fought the IRS on backtaxes instead of paying them. And why not write a check if he wants to pay more? NO ONE is stopping him from LEADING BY EXAMPLE! He's a HYPOCRITE!
@frankz00 i don't think you know who this person is. he's not trump who spends tens on millions on private jet. 99.99% of his money will go to charity after he dies and he's already donated tens of billions. you rednecks disgust me.
I hate to burst your bubble but Warren Buffet DID invest in Bank of America and if you search the details yourself you will find that he got PREFERRED shares which means he gets paid first when BOA goes bankrupt. Usually the normal shares that you and me could get DO get wiped out. Just because you don't do research and make up things in your head doesn't make your fantasy true! Buffet benefited from the Goldman Sachs bailout too! These FACTS aren't hard to find!
@frankz00 He's only doing what the law allows...he is a capitalist after all...At least he doesn't mind paying higher taxes which is what he is saying in the video..
@Tdriver1205 Again. No one is stopping him from writing the check. Berkshire is also fighting to not pay backtaxes. Why not just pay those? He'll get his fake wish to pay more taxes fulfilled easily that way!
@frankz00 Well he'd be violating his duty to his shareholders if Berkshire did that. As for his own taxes, well, I'm sure if you give it a little more thought you'll see the absurdity of your argument.
@frankz00 It's is not fair for just him to pay up.He is a business man after all and i don't have a problem with that. What he says is true and should be heeded by all, CIVIL unrest is all that comes from the massive income inequality currently occurring in this country. History is on my side with the previous fact, and Warren is well aware of that fact.
He helped bank of America stay afloat as a business decision... He didn't save them so they can get bailed out by the government again... He's making a point so why not listen.... He's getting away with legal maneuvers just like all the other billionaires in the USA.... common dude.. DON"T ignore what's happening in this country.... Good laws can stop this crap and that's his point...
@funkyflights Yeah just like the "business decision" to buy the railroad company that's going to be used in leiu of the shutdown Keystone pipeline two years ago. Man, what luck this guy has. I guess his "kind old man"li-ness pays off in karma and good luck..
Yes the system is broken because of lobbying and a fearless/overspending political class...but the larger problem is a complete lack of financial education. (In fact, the only class I recall from public schools here in CA was macro economics.)
Capital gains 15% tax should NOT make people angry. Try to consider this: My own tax bracket from my job is 45%. When I scrape money together to invest it somewhere, it has *already* been taxed..!
I would support a flat tax, with a consumption-based tax.
@talgren Just in case people don't see my point - I am taking a risk to make money as capital gains - *all of the money I saved*. I should be rewarded for that risk.
@anhisking Are you seriously equating making/saving/risking my own money on an investment to stealing other people's money..?
If you are, you're a poster child of financial ignorance and I am sorry for you. Risk via investment is NOT stealing and should be encouraged because it's the lifeblood of any economy.
@talgren Um you did it's called capital gains, and if you loose it's called a write off...the only thing that is not covered is your knowledge in picking the right stock...Win some Loose some or don't play at all..
Taxes need to be abolished. Our money goes into wars! During Bill Clinton I wasn't complaining, because he balanced the budget, created a surplus, he stopped clearcutting in forests, he stopped active sonar, he stopped shooting of wolves. Today the money is going straight into the pockets of Lockheed Martin and Boeing. For that I am 100 percent against paying taxes. The US is cutting their own throats.
This statement supports the idea that the current tax "balance" ,if you will, is injust. It does not specificly support the idea that (higher) taxes are just in general.
I never understood why a country like America with all its debt concerns doesnt increase taxes, even if simply for a set timeframe to get debt under control. My marginal tax rate in Australia is 45% and not complaining.
Your not complaining because your patriotic and understand that your taxes actually benefits you and your economy and fellow countrymen. Here in the U.S.A. we've been taught to hate government and to be bunch of selfish douchebags
... second, what makes you think the tax dollars collected are actually being reinvested into the nation's infrastructure ?
Most of the taxes collected are directed towards compounding interest on loans made by private financial institutions to the various levels of government.
Are you ok with this ?
Are you ok with these private companies enriching themselves at the taxpayer's expense ?
@Tdriver1205 Patriotism doesn't mean you blindly accept what your government hands you. Would you donate to a charity which paid out twenty cents for every dollar it received? It isn't selfish to ask where your donations are going...
@tr77777 I agree with you 100%. Taxes should be INCREASED ...and yet, you mention this and these politicians run scared because of a backlash from spoiled rotten childish Americans.
@tr77777 increase taxes and make poor people even poorer? how about not start illegal wars which has cost the country over 1.2 trillion dollars and counting. and how about getting that 2 trillion dollars that the pentagon is hiding? and how about spending slightly less on oversized military? they spend 700 billion dollars every year on military. and that's all funded by tax payers who work hard for minimum wage and can't even live a decent life.
@nepalihercules Your tax system is a "Progressive" system meaning it is on a sliding scale, their is no reason to impose higher taxes on low income earners it can be the lone burden of higher incomes. As for military spending and government mis spending thats more than likely true, we do however live in a world were borders need to be protected. You seem angry and looking to blame someone. I would suggest voting for the most economically conservative gov at your next election.
@tr77777 lol borders need to protected?? more like we need to spend more on military so we can keep bullying the world. US is the only country that has started so many wars in the last decade.
@nepalihercules It depends on what you count as what makes an instigator. Interloper, perhaps guilty as charged, but why is this showing up on a monetary policy video?
FYI, we spend more money on national social programs than military as a percentage of GDP. It is also interesting to note we contribute more money to other counties than any other...but *not* calculated as a percentage of GDP. (So we are more proportionally stingy in that regard even though our raw numbers are higher.)
@tr77777 I agree with Tdriver1205. We Americans are spoiled little babies who have somehow come to believe in the "me first" mantra of the very conservative. When someone suggests that it is patriotic to pay more in taxes to help with the deficit, they are laughed at and ridiculed.
I agree with this but what about debt based monetary system and the government owing money to the higher financial institutions right from the get go? What about the cost of wars and so much other nonsense? I had no idea the tax code was longer than the bible or that each line has an interest group behind it. Crazy. reality is stranger than fiction. Blessed are the poor for theirs is the kingdom of heaven. Woe unto the rich, for they have had their fill!
peacewalker7 1 day ago
He gives away billions to worthy causes. yet people trash him. Because he is rich.. If he was materialistic, he could live in Beverly hills, and own 5 different cars; but he's lived in the same house in Omaha for over 40 years. common sense goes a long way. he has a ton of it.
skaha65 1 day ago
his lips aren't moving
fuzziruggi 2 days ago
@ddstar I'm a Teddy Roosevelt Bullmoose Progressive.. Look it up, read his speech at the 1918 Progressive Convention. You might like it..
Tdriver1205 1 week ago
Warren Buffet is a Goldman Sach's nadlicker. I'd throw that cheap prick out of my restaurant any day of the week. He can take his 10 percent tip and stick it up his geriatric backside. He's just another financial parasite that has used insider trading advantage to hoard and control strategic income-producing assets. I've never bought another box of See's Candie after that money grubber took over the assets. Boycott all Buffet businesses until the old goat croaks.
planetcave 1 week ago
@planetcave OOH how the losers hate them who are successful.
skaha65 1 day ago
@skaha65 Your mentality is what's wrong with America. I guess you would consider a bank robber or purse snatcher or crack dealer successful if they had obtained some wealth and didn't get caught while doing the act. Buffet is no different, only morons like yourself buy into his nonsense and put these market thieves on such a high pedestal.
planetcave 1 day ago
Warren Buffet and what he did with Berkshire Hathaway, inspires me to believe that you can be a success without becoming Gordon Gekko
mikejpete 1 week ago
Ok for any and all new viewers of this video, the point being made in this video is simple. Raising Capital gains will have no impact upon investment. The "Rightwing Talking Point" is simple you can't raise taxes on the supposed "Job Creators" A master investor like Warren Buffet is aware of this fact. He,along with many others, have made money in all different tax rates. 15% is just to DAMN LOW!!! Wars,Education,Infrastructure COST MONEY. We of the INCOME EARNING CLASS can't pay for it all !!!!
Tdriver1205 1 week ago
@Tdriver1205 Ok left wing socialist.
ddstar 1 week ago
@Tdriver1205 Warren doesn't pay the lowest taxes. He is the owner of berkshire. his money is taxed through berkshire. He pays MILLIONS.
ddstar 1 week ago
Warren Buffet just wants his competitors to have to pay more taxes while he keeps his money offshore, he talks about his PERSONAL taxes but i'd love to see the tax his companies pay.
Bouchon211 1 week ago
Warren Buffet is suing the IRS because he says he pays too much in taxes.
uberrrich 1 week ago
@Tdriver1205 No. The real bullshit mantra is believing that the money goes to helping more people than killing through war.
frankz00 2 weeks ago
@frankz00 That you will not get an argument from me. But again you change topics. Stick with the videos message. Capital gains rate and investment in the economy. That's what this video is about and nothing more. One issue at a time please. A poor country is not a superpower, and a destroyed middle class is not democracy.
Tdriver1205 2 weeks ago
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@frankz00 Yeah. The only "absurdity" is buying into a hypocrite whose ACTIONS are the direct opposite of what he preaches. When he starts writing those checks, I'll start believing these sob stories.
frankz00 2 weeks ago
@ASearchin The only absurdity is buying into a hypocrite whose actions are the direct opposite of what he's preaching! When he starts writing some checks, I'll start buying his sob stories...
frankz00 2 weeks ago
@frankz00 You truly did miss the pint of this video and quite frankly so have many others. The purpose of this video is to illustrate the great "LIE" perpetrated by the Capitalist's. The mantra is simple "Don't tax us so we keep more money for ourselves to invest in the economy" He states perfectly clearly that this MANTRA is BULLSHIT!!
Tdriver1205 2 weeks ago
@Tdriver1205 They make money at 15% capital gains or at 35% capital gains. With our nation running deficits and conducting war on several fronts to protect their interests it is OK for us a people to ask them to simply pay up some for the costs incurred while protecting their INTERESTS..
Tdriver1205 2 weeks ago
their good at saying no
fuzziruggi 3 weeks ago
0% of income taxes collected by IRS pays for any government programs of any kind; it only services the national debt/interest charged to the Treasury by the Federal Reserve. Income tax pays for ZERO.
bonzelite 3 weeks ago
@bonzelite where did you find that??
Tdriver1205 2 weeks ago
@Tdriver1205 in my pursuit of law and the truth; whenever you hear talk radio or newscasts reporting about federal and state income taxes (not import duties or tariffs or sales taxes which are legitimate) --you are hearing absolute and total rubbish. You are only paying the interest incurred by the US govt borrowing money --which is not within your control or responsibility. Use Google for the info, it's your friend in this case.
bonzelite 2 weeks ago
@bonzelite Actually 2/3 of taxes pays for government programs like defense and entitlements. Only 1/3 of taxes goes to pay for coupons from the bonds the Treasury sold, not 100%
MrStevieification 2 weeks ago
@MrStevieification "100% of what is collected is absorbed solely by interest on the Federal Debt ... all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government."
-Grace Commission report submitted to President Ronald Reagan - January 15, 1984
bonzelite 1 week ago
@bladimz It is human nature i suppose. Most Americans i have met seem to be caring people. It is natural for people to also blame others for their lot in life. If we all took a little more responsibility for ourselves and our children all societies would be better off.
tr77777 1 month ago
Yes he is behind on his taxes like all other great capitalists he is using a legal maneuver, that is in the tax code, called "deferment" A tax bill due in 2000 that is paid in 2010 dollars is cheaper. Working class stiffs don't get that neat lil trick now do we?? This is why you all need to vote for Mitt Romney or Newt Gingrich so he "Warren Buffett" can keep that neat lil trick...so he can create jobs... in Indonesia....Phillipines....China...Belarus...Pakistan...not here of course....
Tdriver1205 1 month ago
warren buffet is millions behind on his taxes.
biozamadotcom 1 month ago
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RON PAUL or WW3
watch?v=lUpZhhbKUBo
XPLANEFSX 1 month ago
Oh yea... 1 more thing...
Kill the @&^#*@^@ banking cartel families that have been causing most of the wars for the past 200 years!
RockinReminiscence 1 month ago
@RockinReminiscence Create a vacuum of power and it will be replaced by another group of people who are just as bad. The ONLY solution for humanity is for all the nice people in the world to rise up... sadly they won't do that because they are too 'nice'.
Human nature can't be changed.
mikeyo1234 1 month ago
Income taxes & capital gains are completely unnecessary if US made some changes:
1-If the U.S. printed its own debt-free money, it could loan it out and use the interest collected to pay for social programs (end the FED)
2-Scrap the electoral college voting system and use citizen popular voting for matters of elections, monetary policy, and any decisions on warfare (end the Congress)
3-Bring the military back home and scale it way back (end the warmongering)
4-Fair import tariffs (end the rape)
RockinReminiscence 1 month ago
@KennyReddWooddforest You are absolutely correct!
frankz00 2 months ago
Warren Buffet is the liar here... That joker invested in Bank of America to get the preferred shares which means he gets paid when the government bails them out (with our money of course) and the normal shareholders get wiped out! He's faking everyone out with his gentle old man act! If that fraud cared about "the people", he wouldn't be so busy getting these sweetheart deals behind the scenes! If anything, he should be pushing for everyone else to get the same tax rate as him!
frankz00 2 months ago
@frankz00 I believe you are correct. Just because WB's tax bill is X doesn't mean he can't write a check for ten times as much. The government won't mind. "Please tax me" is an unfortunate ruse.
Sadly, even if he's taxed at 100% - along with everyone else in his nearby bracket - it still wouldn't cover our FY budget, let alone debt. IMO, unless there is a major shift in financial education for a majority Americans we will be for all intents and purposes without a middle class in my lifetime.
talgren 2 months ago
@talgren lol you rednecks are funny. it's not just about buffett paying more tax. he wants all rich people to pay tax
nepalihercules 1 month ago
@nepalihercules Yeah but he acts the exact opposite. Why not get the same Bank of America shares that the "little people" get if he's so concerned about fairness. It's an act! He still hired the accountant to take ALL of the tax advantages. He fought the IRS on backtaxes instead of paying them. And why not write a check if he wants to pay more? NO ONE is stopping him from LEADING BY EXAMPLE! He's a HYPOCRITE!
frankz00 1 month ago
@nepalihercules You just demonstrated you didn't understand my post, but *I'm* the redneck? Let's start: What's a bracket, bright boy?
talgren 1 month ago
@frankz00 i don't think you know who this person is. he's not trump who spends tens on millions on private jet. 99.99% of his money will go to charity after he dies and he's already donated tens of billions. you rednecks disgust me.
nepalihercules 1 month ago
Comment removed
frankz00 1 month ago
This has been flagged as spam show
I hate to burst your bubble but Warren Buffet DID invest in Bank of America and if you search the details yourself you will find that he got PREFERRED shares which means he gets paid first when BOA goes bankrupt. Usually the normal shares that you and me could get DO get wiped out. Just because you don't do research and make up things in your head doesn't make your fantasy true! Buffet benefited from the Goldman Sachs bailout too! These FACTS aren't hard to find!
frankz00 1 month ago
@frankz00 He's only doing what the law allows...he is a capitalist after all...At least he doesn't mind paying higher taxes which is what he is saying in the video..
Tdriver1205 1 month ago 4
@Tdriver1205 Again. No one is stopping him from writing the check. Berkshire is also fighting to not pay backtaxes. Why not just pay those? He'll get his fake wish to pay more taxes fulfilled easily that way!
frankz00 2 weeks ago
@frankz00 Well he'd be violating his duty to his shareholders if Berkshire did that. As for his own taxes, well, I'm sure if you give it a little more thought you'll see the absurdity of your argument.
ASearchin 2 weeks ago
@frankz00 It's is not fair for just him to pay up.He is a business man after all and i don't have a problem with that. What he says is true and should be heeded by all, CIVIL unrest is all that comes from the massive income inequality currently occurring in this country. History is on my side with the previous fact, and Warren is well aware of that fact.
Tdriver1205 2 weeks ago
@frankz00
He helped bank of America stay afloat as a business decision... He didn't save them so they can get bailed out by the government again... He's making a point so why not listen.... He's getting away with legal maneuvers just like all the other billionaires in the USA.... common dude.. DON"T ignore what's happening in this country.... Good laws can stop this crap and that's his point...
funkyflights 3 weeks ago
@funkyflights Yeah just like the "business decision" to buy the railroad company that's going to be used in leiu of the shutdown Keystone pipeline two years ago. Man, what luck this guy has. I guess his "kind old man"li-ness pays off in karma and good luck..
frankz00 2 weeks ago
Yes the system is broken because of lobbying and a fearless/overspending political class...but the larger problem is a complete lack of financial education. (In fact, the only class I recall from public schools here in CA was macro economics.)
Capital gains 15% tax should NOT make people angry. Try to consider this: My own tax bracket from my job is 45%. When I scrape money together to invest it somewhere, it has *already* been taxed..!
I would support a flat tax, with a consumption-based tax.
talgren 2 months ago
@talgren Just in case people don't see my point - I am taking a risk to make money as capital gains - *all of the money I saved*. I should be rewarded for that risk.
talgren 2 months ago
@talgren based on what logic? robbing a bank is pretty risky, if i get away with it then its ok?
anhisking 2 months ago
@anhisking Are you seriously equating making/saving/risking my own money on an investment to stealing other people's money..?
If you are, you're a poster child of financial ignorance and I am sorry for you. Risk via investment is NOT stealing and should be encouraged because it's the lifeblood of any economy.
talgren 2 months ago
@talgren Um you did it's called capital gains, and if you loose it's called a write off...the only thing that is not covered is your knowledge in picking the right stock...Win some Loose some or don't play at all..
Tdriver1205 1 month ago
This has been flagged as spam show
TAX THE RICH AND THEN DRAFT THEM INTO THE ARMY SO THEY CAN GO FIGHT THESE STUPID REPUBLICAN WARS THAT ARE KILLING SO MANY POOR YOUNG AMERICANS!
KaiserJames 3 months ago
Comment removed
KaiserJames 3 months ago
i wish mr buffet is my father..
bluegreen988 4 months ago
@bluegreen988 Yeah--and Tony Soprano was my big brother.
liagarden 2 months ago
Taxes need to be abolished. Our money goes into wars! During Bill Clinton I wasn't complaining, because he balanced the budget, created a surplus, he stopped clearcutting in forests, he stopped active sonar, he stopped shooting of wolves. Today the money is going straight into the pockets of Lockheed Martin and Boeing. For that I am 100 percent against paying taxes. The US is cutting their own throats.
KennyReddwooddforest 4 months ago 4
This statement supports the idea that the current tax "balance" ,if you will, is injust. It does not specificly support the idea that (higher) taxes are just in general.
jccusell 4 months ago
I never understood why a country like America with all its debt concerns doesnt increase taxes, even if simply for a set timeframe to get debt under control. My marginal tax rate in Australia is 45% and not complaining.
tr77777 5 months ago 7
@tr77777
Your not complaining because your patriotic and understand that your taxes actually benefits you and your economy and fellow countrymen. Here in the U.S.A. we've been taught to hate government and to be bunch of selfish douchebags
Tdriver1205 5 months ago 16
@Tdriver1205 True story.
chadspad420 4 months ago
@Tdriver1205 ... wait a minute...
... first of all, I'm from Canada...
... second, what makes you think the tax dollars collected are actually being reinvested into the nation's infrastructure ?
Most of the taxes collected are directed towards compounding interest on loans made by private financial institutions to the various levels of government.
Are you ok with this ?
Are you ok with these private companies enriching themselves at the taxpayer's expense ?
johnnycaboosehead 2 months ago
@Tdriver1205 Patriotism doesn't mean you blindly accept what your government hands you. Would you donate to a charity which paid out twenty cents for every dollar it received? It isn't selfish to ask where your donations are going...
...and that doesn't stop me from paying taxes.
talgren 1 month ago
@tr77777 I agree with you 100%. Taxes should be INCREASED ...and yet, you mention this and these politicians run scared because of a backlash from spoiled rotten childish Americans.
TheSweetSarahize 2 months ago
@tr77777 increase taxes and make poor people even poorer? how about not start illegal wars which has cost the country over 1.2 trillion dollars and counting. and how about getting that 2 trillion dollars that the pentagon is hiding? and how about spending slightly less on oversized military? they spend 700 billion dollars every year on military. and that's all funded by tax payers who work hard for minimum wage and can't even live a decent life.
nepalihercules 1 month ago
@nepalihercules Your tax system is a "Progressive" system meaning it is on a sliding scale, their is no reason to impose higher taxes on low income earners it can be the lone burden of higher incomes. As for military spending and government mis spending thats more than likely true, we do however live in a world were borders need to be protected. You seem angry and looking to blame someone. I would suggest voting for the most economically conservative gov at your next election.
tr77777 1 month ago
@tr77777 lol borders need to protected?? more like we need to spend more on military so we can keep bullying the world. US is the only country that has started so many wars in the last decade.
nepalihercules 1 month ago
@nepalihercules You seem angry about your own country. I am not Amercian but I can understand there spending on the military.
tr77777 1 month ago
@nepalihercules It depends on what you count as what makes an instigator. Interloper, perhaps guilty as charged, but why is this showing up on a monetary policy video?
FYI, we spend more money on national social programs than military as a percentage of GDP. It is also interesting to note we contribute more money to other counties than any other...but *not* calculated as a percentage of GDP. (So we are more proportionally stingy in that regard even though our raw numbers are higher.)
talgren 1 month ago
@nepalihercules Hey "Hercules" - spend more time on the muscle between your ears.
talgren 1 month ago
@tr77777 the people who make the tax laws are the same people who those tax laws let off easy.
redreaper2020 1 month ago
@tr77777 I agree with Tdriver1205. We Americans are spoiled little babies who have somehow come to believe in the "me first" mantra of the very conservative. When someone suggests that it is patriotic to pay more in taxes to help with the deficit, they are laughed at and ridiculed.
bladimz 1 month ago
Oh God why more people are not telling it "
stonethugmusic 6 months ago