CBO: Buffett Tax would only bring in $47B over 10 years

[crcballer55]

Originally Posted by solegit08til

Tax rate should go back to 94% like the good old days. Then we'd have some damn equality.

We'd be out of debt in like 2 years.



Problem rich folk?

If we're going to pretend that the tax code is about equality, why not propose lowering tax rates for the poor instead of raising them for the rich?

When you say "Tax rate should go back to 94% like the good old days" you're also not factoring in the massive deductions that the wealthy got when they were that high as well.  If you're in a 94% tax bracket, you can essentially take a 94% deduction from certain items like interest payments and non-profit contributions.

 

[johnnyredstorm]

Originally Posted by AceMaster193

It's funny to even entertain the idea of this country crawling out its hole.

Hence why I believe WW3 is inevitable.

 

[acemaster193]

Originally Posted by JohnnyRedStorm

Originally Posted by AceMaster193

It's funny to even entertain the idea of this country crawling out its hole.

Hence why I believe WW3 is inevitable.

Agreed.

 

[8tothe24]

And how much is it going to cost us to transition to the Buffet tax that will save us $47B (at best)?

, and that horse gif is gonna get me in trouble at work... laughing so loud, someone knows something is up.

 

[antbanks81]

The first thing that needs to be done is to do away with the repetitive waste in the gov't. Too many talking heads making too much money doing the same damn thing. A lot of these social programs need to be re-evaluated. Far too many ppl living off gov't aid are abusing the programs.

 

[marcmac360]

there is no "digging out of the hole." the country will always be in debt, the best we can do is minimize it so the country is stable.

 

[g14]

THE BEST WE CAN DO IS MOVE ON FROM THE DOLLAR ...AND START FRESH


NEW WORLD ORDER LOOKS LIKE TODAY'S SPECIAL ON THE MENU

 

[sundoobie]

Originally Posted by rashi

 Only around 50% of people in this country pay a Federal Income Tax, and the 1% hides their earnings in non-profit organizations. So taxing isn't the issue, it's a spending issue.

Exactly.  Stop spending billions on wars.  Stop dropping those hundred thousand bombs on villagers and all this global policing.  

 

[pharelfor3]

Buffet got me hungry. That horse gif tho...

 

[crcballer55]

Originally Posted by SunDOOBIE

Originally Posted by rashi

 Only around 50% of people in this country pay a Federal Income Tax, and the 1% hides their earnings in non-profit organizations. So taxing isn't the issue, it's a spending issue.

Exactly.  Stop spending billions on wars.  Stop dropping those hundred thousand bombs on villagers and all this global policing.  
It's going to take a lot more than just that though.  We would need to cut 30% from EVERY program just to balance the budget.  If we're serious, SS will be drastically cut. Medicare will be drastically cut and so will the military.  Even if we cut EVER program besides those three we still wouldn't balance.

 

[a55a5in11]

Originally Posted by Dirtylicious

Originally Posted by a55a5in11

it's not the wealthy's job to pull this country out of the hole the poor put it in.
getting taxed 300k if you make 1mil is horse !**$

really?.. you think it was "the poor" that put the US economy in its current state?

yeah poor people who bought houses when they couldn't pay their mortgage. and that horse gif had me dying too 

 perfect execution 
but if i made 1 mil but had to pay 30% to the government i would be heated and i know all you guys would too

 

[bostonthreeparty]

what would the ramifications be if every single country agreed to forgive all the debt they've loaned or borrowed from other countries?
so the only debt countries would have is just what they are spending v. taking in.

 

[DownByLaw]

Originally Posted by a55a5in11

Originally Posted by Dirtylicious

Originally Posted by a55a5in11

it's not the wealthy's job to pull this country out of the hole the poor put it in.
getting taxed 300k if you make 1mil is horse !**$

really?.. you think it was "the poor" that put the US economy in its current state?

yeah poor people who bought houses when they couldn't pay their mortgage. and that horse gif had me dying too 

 perfect execution 
but if i made 1 mil but had to pay 30% to the government i would be heated and i know all you guys would too

Let's be real here, who do you think was giving all of those people those loans?

 

[launchpadmcquack]

Originally Posted by a55a5in11

Originally Posted by Dirtylicious

Originally Posted by a55a5in11

it's not the wealthy's job to pull this country out of the hole the poor put it in.
getting taxed 300k if you make 1mil is horse !**$

really?.. you think it was "the poor" that put the US economy in its current state?

yeah poor people who bought houses when they couldn't pay their mortgage. and that horse gif had me dying too 

 perfect execution 
but if i made 1 mil but had to pay 30% to the government i would be heated and i know all you guys would too

You mean to tell me that you think thats the reason why we are in debt as a nation because of "poor" people not being able to pay their mortgage. I swear i wish i could see you in person cause i wanna slap the %%%# outta you. some people can be %@*#%%! idiots with no sense sometimes. You know what i take that slapping comment back. I apologize. How about just doing more research and getting more info on our nations rising debt THEN come back into this thread with some more of your ideas i would really like to know if ur opinion changed

 

[allreds]

Originally Posted by xEpikRain

RIP us.

Who is that in your avy?

 

[launchpadmcquack]

Originally Posted by FIRST B0RN

Originally Posted by a55a5in11

Originally Posted by Dirtylicious

really?.. you think it was "the poor" that put the US economy in its current state?

yeah poor people who bought houses when they couldn't pay their mortgage. and that horse gif had me dying too 

 perfect execution 
but if i made 1 mil but had to pay 30% to the government i would be heated and i know all you guys would too

Let's be real here, who do you think was giving all of those people those loans?

thats the thing though people always point this out but how much money can u make on a defaulted loan? Like really whats the point of giving someone a loan that they cant pay back.

 

[utvol23]

Originally Posted by rashi

Originally Posted by solegit08til

Tax rate should go back to 94% like the good old days. Then we'd have some damn equality.

We'd be out of debt in like 2 years.



Problem rich folk?

Dude you can tax at a 100% and it wouldn't make a dent. Only around 50% of people in this country pay a Federal Income Tax, and the 1% hides their earnings in non-profit organizations. So taxing isn't the issue, it's a spending issue.

Yep tax the rich as much as you can and you wont touch our debt. You have to cut spending. You tax the rich you are just going to create fewer jobs and lessen incentive to work.

 

[finnns2003]

Originally Posted by rashi

Originally Posted by solegit08til

Tax rate should go back to 94% like the good old days. Then we'd have some damn equality.

We'd be out of debt in like 2 years.



Problem rich folk?

Dude you can tax at a 100% and it wouldn't make a dent. Only around 50% of people in this country pay a Federal Income Tax, and the 1% hides their earnings in non-profit organizations. So taxing isn't the issue, it's a spending issue.

Yep. Good idea about hiding $ in NPO's, very good idea.

 

[solegit08til]

Communistic Tax laws for 3-5 years would fix it all. Top 10% make like 6 trillion that's accounted for.

 

[crcballer55]

Originally Posted by LaunchPadMcQuack

Originally Posted by FIRST B0RN

Originally Posted by a55a5in11

yeah poor people who bought houses when they couldn't pay their mortgage. and that horse gif had me dying too 

 perfect execution 
but if i made 1 mil but had to pay 30% to the government i would be heated and i know all you guys would too

Let's be real here, who do you think was giving all of those people those loans?

thats the thing though people always point this out but how much money can u make on a defaulted loan? Like really whats the point of giving someone a loan that they cant pay back.

Banks took out insurance policies on those loans to insure against default.  Why do you think they're not willing to negotiate modifications on those loans?  They have no risk.  If the borrower pays, great.  If they don't? They're still getting paid.  Why do you think we had to bail out AIG?

 

[a55a5in11]

Originally Posted by LaunchPadMcQuack

Originally Posted by a55a5in11

Originally Posted by Dirtylicious

really?.. you think it was "the poor" that put the US economy in its current state?

yeah poor people who bought houses when they couldn't pay their mortgage. and that horse gif had me dying too 

 perfect execution 
but if i made 1 mil but had to pay 30% to the government i would be heated and i know all you guys would too

You mean to tell me that you think thats the reason why we are in debt as a nation because of "poor" people not being able to pay their mortgage. I swear i wish i could see you in person cause i wanna slap the %%%# outta you. some people can be %@*#%%! idiots with no sense sometimes. You know what i take that slapping comment back. I apologize. How about just doing more research and getting more info on our nations rising debt THEN come back into this thread with some more of your ideas i would really like to know if ur opinion changed

 you really think it isn't a huge factor on why this country is in the recession? but if your in the seattle area come meet up with me if you really want to start the ethuggin

 

[azndood21]

Originally Posted by a55a5in11

Originally Posted by LaunchPadMcQuack

Originally Posted by a55a5in11

yeah poor people who bought houses when they couldn't pay their mortgage. and that horse gif had me dying too 

 perfect execution 
but if i made 1 mil but had to pay 30% to the government i would be heated and i know all you guys would too

You mean to tell me that you think thats the reason why we are in debt as a nation because of "poor" people not being able to pay their mortgage. I swear i wish i could see you in person cause i wanna slap the %%%# outta you. some people can be %@*#%%! idiots with no sense sometimes. You know what i take that slapping comment back. I apologize. How about just doing more research and getting more info on our nations rising debt THEN come back into this thread with some more of your ideas i would really like to know if ur opinion changed

 you really think it isn't a huge factor on why this country is in the recession? but if your in the seattle area come meet up with me if you really want to start the ethuggin

I get what you were trying to say, it just came out as "it's all b/c of the poor"

 

[a55a5in11]

Originally Posted by Azndood21

Originally Posted by a55a5in11

Originally Posted by LaunchPadMcQuack

You mean to tell me that you think thats the reason why we are in debt as a nation because of "poor" people not being able to pay their mortgage. I swear i wish i could see you in person cause i wanna slap the %%%# outta you. some people can be %@*#%%! idiots with no sense sometimes. You know what i take that slapping comment back. I apologize. How about just doing more research and getting more info on our nations rising debt THEN come back into this thread with some more of your ideas i would really like to know if ur opinion changed

 you really think it isn't a huge factor on why this country is in the recession? but if your in the seattle area come meet up with me if you really want to start the ethuggin

I get what you were trying to say, it just came out as "it's all b/c of the poor"

lol no i no its not the entire reason 

its just one of the big pieces to the puzzle

 

[digital022]

Originally Posted by a55a5in11

Originally Posted by LaunchPadMcQuack

Originally Posted by a55a5in11

yeah poor people who bought houses when they couldn't pay their mortgage. and that horse gif had me dying too 

 perfect execution 
but if i made 1 mil but had to pay 30% to the government i would be heated and i know all you guys would too

You mean to tell me that you think thats the reason why we are in debt as a nation because of "poor" people not being able to pay their mortgage. I swear i wish i could see you in person cause i wanna slap the %%%# outta you. some people can be %@*#%%! idiots with no sense sometimes. You know what i take that slapping comment back. I apologize. How about just doing more research and getting more info on our nations rising debt THEN come back into this thread with some more of your ideas i would really like to know if ur opinion changed

 you really think it isn't a huge factor on why this country is in the recession? but if your in the seattle area come meet up with me if you really want to start the ethuggin

Poor people did not cause the real estate bubble, they were casualties of it. 

 

[e3lal]

we just need to collect taxes from businesses.  GE has gone a couple of years not paying anything.