Author Topic: Tax Cuts for the Rich  (Read 108 times)

Trauma-san

Tax Cuts for the Rich
« on: July 21, 2003, 12:13:40 AM »
Thank GOD Bush is finally cutting taxes for the 'rich'.  Did yall know, that in america, the top 50% of wage earners (those who earn the top 50% of the money in the country) pay 96% of the taxes?  The top 5% of wage earners actually pay 56% of the taxes in america.  

The top 50% is those people who earned more than 26,000 dollars in the year 2000.  So, in other words, if you earn less than 26,000 dollars a year, you're only paying 4 dollars for every hundred dollars paid in taxes.  IS THAT FAIR?

LOL Yet another re-twist by Trauma, forever on the mission to show that America isn't as bad as everybody thinks, and the democrats don't know what the fuck they're talking about.  

Democrats bitch and moan about "Tax cuts for the rich", but the truth is, they're full of shit.  They want to give an equal tax cut to the poor, but if you're in the bottom HALF of earners in America (aren't we all?) you're paying 4 PERCENT of the taxes! Think about that.  How the hell can you give someone who's only paying 4% of the taxes the same cut as you give someone who pays 96% of the taxes??? You can't.


Plus, on top of this, the people paying all the taxes aren't some mega-millionaires paying the taxes for all the poor people.  The top 50% encompass people earning 26,000 or more, and THEY'RE the ones getting the tax cuts!  The top 1% of wage earners in america are the ones earning more than 293,000 dollars, so you can see that virtually EVERYONE that is paying taxes is getting a tax cut, and virtually ALL OF THEM need it, because they're not extremely wealthy/rich, etc.  

Guys, eventually we're going to have to get over this hangup where we think Democrats are for poor people, republicans are for rich people... it's just not true.  
 

M Dogg™

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Re:Tax Cuts for the Rich
« Reply #1 on: July 21, 2003, 12:31:20 AM »
Trauma, I love you, you my dogg, but you are misinformed homie. Taxing the rich takes money out the rich hands. Why would we want to take money out the hands of those who earn it. Well it's Economics 101 homie. If you have more money than you need, you don't spend it, you save it. Saving money keeps money in one person hands, therefore the money stays still, and is not used for spending. People spending money, moves it, and therefore the economy is moving, and is growing. Poor people spend every cent they have on bills, and on food. They live pay check to pay check. If they have more money, it's not the same as a rich person. They do not save their money, they spend it on more stuff they need. Maybe fix the toilet that needs fixing, maybe fix the car that is on the virge of breaking down. Bill Clintons plan of taxing the rich and tax breaks to the poor was so simple, his slogan said it perfectly when he ran in 1992. It's the Economy Stupit. Could not have said it better myself. Hell, after that, spending in the United States was at an all time high in the 90's, as we grew very large. And after Bush's first tax cuts, spending decrease. Why, because now more money is put into savings, and people are not spending. We shall see what happens, but right now, simple economics is playing out well, as the government is trying to get the rich to spend.
 

UnstoppableForce

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Re:Tax Cuts for the Rich
« Reply #2 on: July 21, 2003, 12:33:57 AM »
Batman is on point.
 

Javier

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Re:Tax Cuts for the Rich
« Reply #3 on: July 21, 2003, 12:39:16 AM »
very true ^^^ very very true
 

Trauma-san

Re:Tax Cuts for the Rich
« Reply #4 on: July 21, 2003, 12:46:00 AM »
No, actually he's not.  

In the past, 2 noted presidents have cut taxes.  

Democrat John F. Kennedy, in a stroke of brilliance, cut taxes for the top wage earners.  He cut the top tax bracket from 91% to 70%.  That's right, before Kennedy, the top earners were paying 91% of their earnings to the government.  

Kennedy cut the taxes 21 percent, and Income Tax RECEIPTS (what the government took in ) actually increased.  You would think the government would make LESS money, right?   Since they lowered tax rates? Actually, the effect this had was that folks who earned a ton of money, instead of SAVING IT, like you said, SPENT IT... and since they were succesful business men (why else would they be the top wage earners? lol), they actually made MORE money, and paid taxes on it, and the federal government actually made MORE money, tax income went up 67%.  That's cold hard facts, gentlemen.  Kennedy cut taxes, the government made 67% more money on tax income.  Fight that, find a flaw in it, there is none, you cut taxes, you increase the money that is in the citizens hands, they spend it.  It doesn't matter if they're rich or not, if they're rich, they'll probably just make even more money for the government, since they know how to run a business.

Next, Ronald Reagan cut taxes.  He cut the marginal rate from 70% all the way down to 28% during the 80's.  Guess what?  Federal tax income nearly DOUBLED, 96% growth.  Why? Because the tax cuts left more money in the hands of ALL citizens, INCLUDING the rich.  They didn't sit on the money, like you say, they spent the money, and made even MORE money, paying the government taxes on it.

So, as history has proven twice, cutting taxes helps the economy, and brings in extra money through income tax receipts.  

By the way, this isn't even what I was arguing, but you brought it up.  I was just arguing that if ANYBODY should get a tax cut, it should be the people paying the taxes.  Democrats want to give tax cuts only to people paying less than 4% of the taxes, that's bullshit.  
 

UnstoppableForce

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Re:Tax Cuts for the Rich
« Reply #5 on: July 21, 2003, 12:55:11 AM »
Just looking at the U.S. during his time (not the way he handled foreign situations), Reagen was a dope president. Very beneficial to the American people.
 

Trauma-san

Re:Tax Cuts for the Rich
« Reply #6 on: July 21, 2003, 01:00:38 AM »
Why, I think so too! Nobody else will admit that, but hey, you and me can grovel in it.  
 

M Dogg™

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Re:Tax Cuts for the Rich
« Reply #7 on: July 21, 2003, 01:02:17 AM »
Reagon's growth in the economy came from what most economies grow off of, military spending. By cutting taxes, what did he use to improve the economy, defiect spending. We had a trillion dollar debt after him. Kennedy cut taxes that were too high since no one cut taxes after the New Deal. This was very benefical to the American people, because EVERYONE GOT THEIR TAXES CUT. Cutting taxes is not a bad thing, but cutting poor taxes is a great thing. Again, you missed my point, it don't matter what the poor pay. They spend more money than anyone else, because they are the largest group. They spend money like no other group can, because they live pay check to pay check, a term that all people starting off life knows. The more they have, the more gets spend. The more that gets spend, the better the economy is, because money is moving. Bill Clinton economics 101. Figure it out. Tax breaks work if done right, like Kennedy. Tax breaks hurt if you replace the taxes with borrowed money, ask Reagon. And cutting poor peoples taxes raise spending, ask Clinton.
 

M Dogg™

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Re:Tax Cuts for the Rich
« Reply #8 on: July 21, 2003, 01:06:59 AM »
Oh, and one more thing, in the 80's, poor neighborhoods got poorer, and crime rose to new highs. From Bronx to Compton, poor people made less money than in the 70's, this is even before taking in the major inflation that happened in the horrible Carter years. Reagan's economical plan, or Reaganomics, was a failure to the poor communities, as he even tried to cut the Department of Education to allow more military spending. Come on homie. Look it up yourself. In the 80's the poor grew poorer, Reaganomics did not work. Ression in the late 80's, early 90's is all we got.
 

Trauma-san

Re:Tax Cuts for the Rich
« Reply #9 on: July 21, 2003, 01:10:00 AM »
^ Dude, honestly; you don't make any sense.  Your facts are flawed.

You said that poor people spend more money.. HOW? They don't HAVE ANY! That's why they're poor, lol.  You say there's more of them, they're the largest group; well, by these statistics, 50% of the people in america make 26,000 dollars or less, I would assume that poor people would make less than 26,000 dollars, and as such, they would constitute less than half the country, which is NOT the largest group, lol.  Am I missing something?  

Also, how can you cut taxes on people that don't hardly even PAY taxes?  If I've got a guy standing in line, and he's paying 96 dollars for a watermelon, and there's another guy paying 4 dollars for a watermelon, it's your opinion I should give the guy with 4 dollars the watermelon for free?  Why not charge him 4 dollars, and give the guy a discount who's paying 96 dollars?

To me, it's common sense, and I'm not even rich, lol.  

& Reagan got more money in from the economy not through military spending; that's where the defecit came from.  He got more money back as a result of his cutting taxes, simple as that.  Ask around, everyone agrees with it.

Also, the fundamental flaw in your argument is.... 1. Under Bush's tax cuts, EVERYBODY got their taxes cut, like you mentioned, and 2. The lowest wage earners pay literally NO TAXES, so therefore can't get a tax cut.

Simple as this: If you paid taxes, you got a tax cut.  It's fact, look it up.  The democrats have a problem with everybody getting a tax cut, you must be misinformed!  They want ONLY the poor to get a tax cut.  How can you say that's fair? That's BULLSHIT is what it is! Bush's tax cut was for everyone who pays taxes.  
 

M Dogg™

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Re:Tax Cuts for the Rich
« Reply #10 on: July 21, 2003, 01:27:49 AM »
I'm not arguing as a Democrat, but as someone that does agree with some of there b.s. I'm telling you homie, I'm also not saying everything you say is wrong. Read all my stuff. I'm just saying, you have to cut low income people's taxes. And the poverty line is at like 32,000, maybe lower, but it's at that level now. You see, you get your stats, I have no clue, but I was getting a lot of my stats from conservatives...  :o ... it's true. And even the Bush administration admitted that they missed out on the poorer people that do make under 26,000, the group you talk about. It's like anything else though. And I'm not saying they are 50% of the nation. There are many different classifications of groups. Theres the below 26,000, the 26-32, then 32 to whatever, and whatever to whatever. Get a tax book, it'll show the tax brackets. If you have done taxes, you know there is a grip of tax brackets. The lowest tax brackets, even with Bush admittion, did not show any improvements in tax cuts. These brackets getting money improves the ecomony because they spend money. They have non, so they spend it. Hell, half the time they can't even pay their taxes if it wasn't already tooken out the check, 'cause they can't affort it. For a nation that houses many billionaires, some people have to do worst off, for the balance. Homie, it's not as hard as you make it. There are many tax brackets, not two. Look in the damn book. Poor people have no money, given them back their money does not hurt the government, and it improves the economy. Homie, realize, if it doesn't hurt the government, and it helps out the economy, it's better that way. It's not about princibles, or whatever you are going off of. It is going off of what is better for the country.
 

Don Rizzle

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Re:Tax Cuts for the Rich
« Reply #11 on: July 21, 2003, 10:46:13 AM »
in the 80's the top tire tax in the uk was at 98% so for every £100 they earnt they would only recieve £2

iraq would just get annexed by iran


That would be a great solution.  If Iran and the majority of Iraqi's are pleased with it, then why shouldn't they do it?