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You are so right. Its always these rich guys who feel guilty and want to give away other people's money. Let him give it to the stupid government if he wants to. He should spend less time giving this kind of advice and more time chasing Erin Burnett.
Because Warren Buffet knows what he is talking about. You cannot have a successful economy where the rich are breaking record profits every year and paying a lower rate while the rest of the people are suffering. The middle class needs the tax relief not the rich.
You are wrong. I am rich and I don't need my taxes raised. It is my money that I earned and the government has no right to it. We rich guys provide the capital that is the engine that grows the economy. We pay less of a tax rate because the capital gains tax rate is lower - by design to encourage rich guys like me to invest in the economy. You and Buffet should go to a communist country and see how good life there is.
Warren just hasn't been bribing congress through lobbyists to make himself tax exempt. If Romney had won, he had cut a secret deal with Sheldon Adelson and promised to adopt Gingrich's plan to eliminate capital gains tax. Adelson promised he would kick in up to $100 Million to help the republicans. Actually, he ended up BLOWING $150 MILLION and was only able to elect ONE SENATOR, the republican Senator in Nevada who barely won. Adelson stood to gain $12.5 BILLION in tax breaks under Romney's plan, and Romney's own tax from 2011 would have dropped from $13.9 Million to about $80,000, because Romney was not paying hardly ANY INCOME TAX. He was able, through a loophole, to pay the 18% capital gains rate instead of the 36% starting rate, before deductions, exemptions, credits and loopholes, like his "Dancing Dressage hobby horse" which costs $230,000 per year to "maintain." If Adelson isn't paying that $12.5 Billion anymore, who do you think will be stuck with his tax bill? Also, he stood to have a likely criminal indictment for bribery dropped if Romney had won and appointed his own attorney general. David Stockman, Reagan's budget director, predicted a disaster if Reagan adopted the "Laffer curve" as his economic policy. Stockman was exactly right as is chronicled in his essay "HOW MY GOP DESTROYED THE US ECONOMY" I have been a fiscal conservative all my life, and that's why I no longer vote republican, among other reasons. The IDIOTS in the TEA Party are going to destroy what is left of the once sane republican party if the republicans fail to remove this CANCER within their midst.
Sentiment: Strong Buy
A fiscal conservitive my #$%$, you are a full blown Obama lover. Anyone with a halfabrain know that the housing bubble developed from the Barney Frank and pals plan to put every min. wage worker in the country in a home whether he could afford it or not, was what created the frenzy of bailing out wall street, initiated by Bush and picked up on the run by Obama. " When a majority of people are able to vote themselves favors and rewards, we are no longer a free country", we are there. For you to carry the 'left-wing-radical-idiots' banner proclaiming that dreadfull bunch of patriotic, law abiding, non-insulting, non-character assassination, folks referred to as the "tea-party" is what is wrong with this country shows how out of touch you are with our history.
Here's an idea where socially liberal dems can pay more -- it's a sin to tax labor...
"Economist Daniel Altman is proposing something completely different on the tax front --- a system that taxes wealth rather than revenue. It's not intended to raise more revenues but rather to reduce inequality which, he says, threatens growth.
He proposes to replace income, capital gains, estate and gift taxes with a progressive wealth tax that "would do much more to reduce [wealth inequality] than any other tax plan being considered in Washington," according to his recent New York Times op-ed.
Altman's plan would exempt the first $500,000 of wealth from taxes, which he says would affect about 80% of households (these individuals would continue to pay payroll taxes for Social Security and Medicare). The next $500,000 of wealth would be taxed at about 1% followed by a 2% tax on assets valued above $1 million. That's enough to replace all the money collected from taxes on income, capital gains, dividends, estates and gifts, says Altman."
Watch and see how all the rich, fat, liberals in Congress switch sides on this one.... Kerry, Kohl eand the rest of the democrats in congress willing to spend other peoples INCOMES will now have to kick in some of their own NET WORTH.
Jetty; That generalization is almost meaningless.
The problem as the GOP says, is income redistribution.
But being conservative and slow to react, they missed the fact that
income redistribution began with Pres RR and the cash flow has already gone
the other way since then...enormously.
The was massively redistributed from the working,
American middle class that made our country great....
to the " 1%", the multinationals and financial firms.