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lol a thousand words. you didn't even have ten.
Two data points do the trick for you?
lol a thousand words. you didn't even have ten.
Wait...
You don't think that the annual income tax rate on the highest income bracket has any effect on the annual income of those people?
That's just a correlation that when the tax goes down they start making 97,600% the annual salary of an average American? That's not a causal relationship?
Damn. That's pretty damn dumb to think that.
http://en.wikipedia.org/wiki/Plutocracy
It aint worth since it stops at 2006. What about the last 4 years?
I'm not sure what effect it has. I don't think you know either.
More fiat. You demonstrated -all and think you hung the moon. That's pretty dumb.
The richest of the rich don't pay income tax rates. They probably pay mostly capital gains rates. I'm pretty sure those who get caught up the worse with marginal rate increases at the top end are Chapter S business.
Why do you guys want to hurt small business and lottery winners?
Wow really? If nothing else, the amount of consolidation in the financial sector affected us all very closely. You know anyone that doesn't use a bank? You know anyone that has a home loan?
Don't get me wrong, I think excessive concentration of wealth is bad. I think oligarchy is bad. But your graph doesn't prove .
Yeah, I hear no one tried to get rich when the tax rate was higher. Why make an extra 100k if that means I have to pay an extra 20k in taxes? I mean, that extra button pushing by my accountant is certainly not worth the tends of thousands more in dollars I would have.
I mean we're racing to the bottom!
The paradigm in thinking of what capitalism is needs to change in our society. This is not an argument against capitalism, but merely a need for a fuller understanding of exactly everything it means. The wealth someone attains is not simply money. It is fundamental power. We all recognize that the more money you have the more opportunities open up and the more efficiently you are able to use almost any system in our country. This includes the political system.
It is completely in interests of our society to keep that power spread out as much as possible. We recognize this quite well in many other ways. We do not consolidate power in one branch of government or in one person. Our an rust legislation attempts to avoid monopolies in order to facilitate better business. Well, in order to facilitate better government, I think you have to take that same mindset to wealth.
Manny, I agree with those thoughts in so many ways. However, nobody seems to have an acceptable solution. You don't achieve any good by trying to confiscate more of it through taxation.
The endgame of successful capitalism is the consolidation of wealth among the few. We're seeing it quite well in the United States right now.
Shouldn't the endgame of capitalism-in-theory be perfect compe ion? Sounds more like you're talking about what Chomsky called capitalism-in-practice.
101A, if your contention is that lowered taxes have helped the productivity of the world, and not so much the US, what solution is there? Wait until other nations working wages become equivalent to ours?
Can anyone actually prove causality in the financial sector though? Economists can toad the same situation and come up with two completely opposite reasons for it, with facts to back up both sides.
Thats what proponents of capitalism would like to believe. However, if you live in a democratic society where these two things hold true I don't see how the inevitability is anything bout a consolidation of wealth and power.
1-Children who come from families with money do better in the long run.
2-Wealth is political power.
If you get rich, then you are able to influence the political system much more. In turn your children will have a much better chance of also being rich and accruing more wealth and in turn political power. Their children will have an even better chance, etc etc.
Its really not as different from the nobility as people would like to believe.
I'll read those papers later today, WH.
To back up Manny's claim, just look at how many politicians are sons/daughters of other politicians...
No dispute there.
How many doctors have children that follow in the profession?
Same with most good professions. The acorn generally falls nearby.
Except doctors aren't running our country. Do you think that familial political lines are desirable?
I don't like people being career politicians at all.
http://thinkprogress.org/2011/04/09/...richest-taxes/
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Shared sacrifice means shared only by the lower 4 quintiles, because the top quintile, the quintile that is primarily responsible for the disaster, has bought its way out of sharing anything, esp not sharing financial pain and insecurity.
btw, most non-earned/investment income people "self report" their income, the "honor system", while the payers report nothing, which is clearly an opportunity to cheat and then send their undeclared income out of the country.
There goes Boutons again...
Showing his glorious jealousy and wanting to create a class warfare thread again.
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