Tax and Spend Politics

[mrmacq]

[quote=AllergyWoman;528256]Amen. The rich should be patriotic and pay this country back for giving them the opportunity to be rich with increased taxes, or go elsewhere and be RICHER in a DIFFERENT country QUOTE]

they are doing that
and making even more money
(forgive i changed a few words)
and they will leave if higher taxes materialise
history teaches us that
................
its the loopholes that allow them to do this
now why would these be there?

[mrmacq]

Originally Posted by BeverlyD

which is a perfect example of socialism.

please take the time out to explain what you feel socialism is?
you elude to communism
and rest assured ill jump all over it

[mrmacq]

alright
i believe ive caught up

[lizbethrose]

Cutting taxes is counter-intuitive, that's all, and it certainly hasn't stopped the very rich individual or corporation from 'hiding' assets in either Switzerland or the Cayman Islands (UK possession, by the way.)

Would a 'flat tax' stop tax shelters? For some reason, I just don't think so. Would making tax shelters illegal do anything?--Only if the world agreed to it and we have no idea how many other countries use those countries as 'shelters.' Besides, there are many other ways for individuals to 'hide' assets.

What to do, what to do?

[Curmudgeon]

Originally Posted by lizbethrose

What to do, what to do?

What to do? Sounds simple to me. Cut taxes and generate more revenues. Let me ask you; if you wanted money and I said, "You can have your choice. I can give you $100 or I can give you $75." Which would you choose? The $100? I'll bet. So now let's change the parameters. If I said, "Well, I can give you the $75 OR if you cut my tax rates I can give you the $100." would you cut my tax rates? Or would you turn down a better deal for yourself in order to make sure *I* don't get a better deal, too?

As the old saying goes, would you cut off your nose to spite your face?

[AllergyWoman]

they are doing that
and making even more money
(forgive i changed a few words)
and they will leave if higher taxes materialise

Hm...were the rich that selfish and hated America that much during the Eisenhower administration, when taxes were higher? I don't remember that, but surely someone here does. Is this a recent thing, that the rich hate America so much they'd rather leave than pay their fair share of taxes, or is it something that started way back then?

[Curmudgeon]

Originally Posted by AllergyWoman

Hm...were the rich that selfish and hated America that much during the Eisenhower administration, when taxes were higher? I don't remember that, but surely someone here does. Is this a recent thing, that the rich hate America so much they'd rather leave than pay their fair share of taxes, or is it something that started way back then?

The late 1950s saw a stagnant economy develop that limped along into the beginning of the 1960s. In an effort to get the economy moving again President Kennedy goosed Congress into lowering tax rates, to which WheresMyCoffee alluded above. The result was an economic boom that continued until the OPEC oil embargo of the early 70s and Nixon's misguided "wage and price controls."

[paddystyle]

Originally Posted by AllergyWoman

Hm...were the rich that selfish and hated America that much during the Eisenhower administration, when taxes were higher? I don't remember that, but surely someone here does. Is this a recent thing, that the rich hate America so much they'd rather leave than pay their fair share of taxes, or is it something that started way back then?

The rich everywhere dislike paying taxes and will do whatever it takes to avoid them,thats one of the reasons they remain rich....in an ideal world people would see the benefit of using tax dollars for education and healthcare as a benefit to all,but the world is far from ideal.....our tax brackets are 40 and 22 percent,we bitch about it and on the face does seem high compared to others but when broken down is value for money....no uninsured and no college fee's for anyone....we also pay Value added tax at 17% on non perishable goods,and huge excise on alcohol,tobacco and fuel so we are taxing by usage not by need,in essence the more stuff you have the more you pay....its not an ideal system but it does work,intrinsic to it though is the belief that health,education and social welfare are basic civil rights available to all and not commodities that only the rich can afford....and also we have a trust in our administration to administer these things fairly,something that seems lacking in the US.....Tax and spend politics are a fine line and i do agree with the guys who are saying that raising tax unproportionly for the rich is counter productive and will only drive more dollars offshore but in my opinion you in the US either are simply not paying enough tax or its so mismanaged that its not effective