Obama beats the party drum with more anti business tax rhetoric

Discussion in 'Politics, Religion, Social Issues' started by thewitt, May 7, 2016.

  1. thewitt macrumors 68020

    thewitt

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  2. steve knight Suspended

    steve knight

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  3. Renzatic Suspended

    Renzatic

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    Trickle down economics. It works! We swear!
     
  4. Mr. Buzzcut macrumors 65816

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    Not getting the connection between article and post title. Seems more about fairness than new taxes.
     
  5. samiwas macrumors 65816

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    Did you even read the article? "Businesses should disclose the real owners." "We should close loopholes." "Investigate corruption and money laundering." "Battle tax evasion." And it included a graph showing how far taxes have dropped.

    I don't think you read it. Or you 100% did not comprehend it.
     
  6. Renzatic Suspended

    Renzatic

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    I think he understands it perfectly, and still sees it as an attack on big business and/or capitalism.

    Witt isn't so much a dyed in the wool Republican, so much as an anarchocapitalist.
     
  7. Robisan macrumors 6502

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    The Witt is lacking or at least dim.
     
  8. VulchR, May 7, 2016
    Last edited: May 9, 2016

    VulchR macrumors 68020

    VulchR

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    What the old-style austerity-junkie Republicans seem to fall to comprehend is that wealth inequality is bad for business. Hoarding wealth, as the very rich do now, leads only to one outcome in the end, and nobody will benefit from a class war. Trump supporters want to tax the rich. Sanders supporters want to tax the rich. Is there anybody out there who think the rich pay enough in taxes (other than the rich)? The capital gains taxes are ridiculously low.
     
  9. MadeTheSwitch macrumors 6502a

    MadeTheSwitch

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  10. SHNXX macrumors 68000

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    Wait, define hoarding wealth?
    What do the rich (please define your definition of rich also) do with the money that makes you think that they're "hoarding"?
     
  11. jerwin macrumors 65816

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    Typically they inflate housing prices.
     
  12. SHNXX macrumors 68000

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    The rich inflate housing prices? How do the rich do this? By borrowing money to buy houses on speculation that their value will go up?
     
  13. jerwin macrumors 65816

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  14. samiwas macrumors 65816

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    Well, it's pretty simple. Instead of paying taxes or paying decent wages to workers, they keep everything for themselves using tax avoidance schemes and gaming the market to keep wages low (all while complaining about the people who don't make enough to get by and too-high taxes that are lower than pretty much ever). Wages haven't stagnated or dropped severely due to lack of ability or productivity. They've dropped simply because "we don't have to pay". The rich are getting richer and the poor are getting poorer. Hoarding.

    Anyone who makes more than a few hundred thousand per year is rich. Those who make over a million are very rich. Those who make over a few million per year are stupid rich. And those who make more than ten million a year are just ludicrously rich.
     
  15. SHNXX macrumors 68000

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  16. samiwas macrumors 65816

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    Well, it can happen to a point. If there's a hot, up and coming area of town, people with money can buy up all the available houses and then cause a supply and demand issue, raising prices. Much the same way that scalpers and ticket brokers buy up all of the tickets to popular concerts and sell them at a much higher cost. There have been concerts in the past where I was online the minute tickets went on sale to the public and could not buy them, but magically, I could buy thousands of them on internet sites for three times the original face value at the same time.
     
  17. SHNXX macrumors 68000

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    Has this ever happened for houses?
    Considering how much houses cost and how many houses one would have to buy to raise the price of houses in a city, it would be a very very very very very ****** investment on a very very very very very large amount of money.

    Let's say LA, maybe something like 3 million houses and condos, let's say 10% of them are on the market, each of them around 400K per house, that'd cost more than 120 billion dollars since cornering the market for the 10% on the market would not stop other houses from coming to the market... I don't think anyone has 120 billion dollars in the world... furthermore, nobody thinks this is a good investment...
     
  18. Mr. Buzzcut macrumors 65816

    Mr. Buzzcut

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    #18
    Seems to be an unfair stereotype. Some rich people are dirtbags but certainly not all. A million in income might sound like a lot but that person or persons may have hundreds of thousands in business expenses.

    In addition, the government can't seem to control themselves with taxes which often end up impacting the middle class the most. Why should capital gains or inheritance be taxed to oblivion when the recipient is middle class and just trying to support a family?
     
  19. jerwin macrumors 65816

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    Did you read the article?
     
  20. thekev macrumors 604

    thekev

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    I don't want to be really pedantic here, but I believe you're thinking of gross receipts, not income. If you run a small business and have approximately 1 million in gross receipts, your income is not approximately 1 million, and it would not be reported as gross income. You would file a profit and loss form in the case of a sole proprietorship, and your gross income would be computed out of the remainder after those expenses are taken out.

    It's also possible to have a large amount of money tied up in assets.
     
  21. samiwas macrumors 65816

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    Apparently, you missed the part where I said "to a point" and "hot area of town". This most certainly happens for houses in part of towns. Doesn't even have to be a hot area of town. But it doesn't mean that an entire metro area is bought up.


    Didn't claim that all rich people are dirtbags, but let's not pretend that this country hasn't swung to pouring money at the feet of the rich while providing next to nothing for the rest of its citizens. It isn't the poor and the middle class who control this system.

    Huh? The middle class are the ones with the lion's share of capital gains, and the ones hit hardest by inheritance tax? I must be misunderstanding this question of yours.
     
  22. wlossw macrumors 6502a

    wlossw

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    There is no such thing as the middle class... There is the 99% and the 1%...
     
  23. Mr. Buzzcut macrumors 65816

    Mr. Buzzcut

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    Didn't say they make the most from them but that's kind of the point. The middle class gets pinched the most with taxes when they're just trying to save a few scraps here and there. In other words, taxes aren't applied fairly and end up impacting those they should not. I think you'll find this is why many middle class folks are against taxes that are allegedly for the rich. And maybe that's by design of those who expect the new taxes to fail. Our taxes are far too regressive.
    --- Post Merged, May 7, 2016 ---
    Sure but I get confused when folks talk about people worth millions. It isn't always the lifestyle they picture as net income often doesn't reflect it.
     
  24. samiwas macrumors 65816

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    Yeah...I'm just not understanding your point. Why did you say "Why should capital gains or inheritance be taxed to oblivion when the recipient is middle class and just trying to support a family?". The middle class is barely touched by capital gains and inheritance tax. So what are they the recipient of? What is the middle class getting pinched by in your examples of capital gains and inheritance?

    If you're making millions but struggling to get by, then you're making some pretty poor decisions. In fact, way, way worse decisions than the people making $25,000 a year, who always get **** on for being "bad decision makers".
     
  25. Mr. Buzzcut macrumors 65816

    Mr. Buzzcut

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    #25
    You think middle class folks don't ever make a little money off of selling a house or get a few thousand when a relative dies? That's what I mean. The government swoops in and takes a significant chunk of it. The income ceiling should be pretty high for those taxes and it is not.
     

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