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Profits that are re-invested. And, those higher tax receipts went into en lement programs for the poor as well. Oh, and wages are up.
No, I was just clarifying it with my next post, Mr Impatient.
Profits that are re-invested. And, those higher tax receipts went into en lement programs for the poor as well. Oh, and wages are up.
Question to Yoni:
In a progressive taxation scheme, shouldn't increasing income inequality tend to increase tax receipts?
I think that would depend on the apportionment of wealth between the haves and have nots.
Well, theoretically, holding national income constant, as the apportionment of wealth to the "haves" in the top bracket increases, shouldn't tax revenues increase as well?
Consider this:
Microsoft CEO Bill Gates has more wealth than the bottom 45 percent of American households combined.
Yes, and they did.
Then, these tax revenues were re-distributed to the poor in the form of rebates, refunds, and en lements.
He's a shrewd businessman and investor. What's your point?
So, then what happens to the middle class under such a scheme?
Duh, If the federal tax system didn't redistribute wealth, the U.S. would be a land once again ruled by rich aritocrisy and douries.Then, these tax revenues were re-distributed to the poor in the form of rebates, refunds, and en lements.
It vanishes.
The secret is to reduce uncons utional en lements to where you can lower the tax rate to near zero and still have the revenue necessary to accomplish cons utional obligations.
At that point obscene profits would dissipate amidst compe ion. Prices would drop, wages would buy more, etc...
It's funny how the libs here have totally ignored the other part of my original post:
Bush's approval rate is the highest it's been in a year and the Republicans have completely closed the gap with Democrats among likely voters.
This news does not bode well for the Democrats hoping to regain power. In fact, their glee over the supposed huge gains in both houses of congress seems to have been quite premature!
I don't listen to polls.
Solving the problem of wealth distribution is not the same as solving the problem of income distribution.
I think the thread went in a better direction.
That's one poll, and Dubya is still registering his yearly 911 bounce. His overall composite approval rating still is in the 40.5% range. Not that it matters though, he's still a lame duck for two years.Bush's approval rate is the highest it's been in a year and the Republicans have completely closed the gap with Democrats among likely voters.
No, but it's a start.
Which is going to happen first, the elimination of en lements, or the elimination of the middle class?
Hopefully, the elimination of the progressive tax system. And, I think your premise discounts the necessity to have consumers for the products and services through which profits are enriching the rich.
I should have expanded on my earlier post. This is why I'm in favor of the Fair Tax Plan. It taxes consumption, it exempts the poor, and it completely replaces the current tax scheme, dollar for dollar.
www.fairtax.org Have a look.
No, it's an end. It's called socialism.
Most corporate profits as of late have not been "re-invested". They have been given out in massive stock buy-backs and massive increases in executive compensation.
Meaning that the only people who are really benefitting from the recent economic growth are those who are giving themselves massive raises.
Recent meager wage gains have done little to compensate for a decade or two of stagnant wage growth,
AND
if you factor in growth in health care costs and higher education, real earning power has dropped massively.
Both of those problems have been either actively ignored by the GOP or exacerbated by short-sighted policies with no long-run solutions.
A rebate is different from a tax cut.....kinda like a car rebate.....a rebate is a one time thing.
A tax cut should be lower percentage taken from your paycheck.
When was this tax cut supposed to take affect anyways?
I personally know dozens of people who have seen zilch/nada/nothing/zippo/zero in the way of tax cuts.
BTW....how dare you say I do not know where I get my money from....you don't see my check stubs, or my bank statements, or any financial information.....and I don't see yours. All I know is what I see on my paycheck....and from others around me.....where I work and friends in general.
Many....not all....how many is many?Many who don't even pay taxes got a rebate
I have not seen a change in my deductions in years.
I here about all these tax cuts.....but no link.
If it does exist.....how about a link?
Thank you Einstein for your insight on only if the
rich take from the poor do the rich get richer.
I have to wonder why we have so many more
millionaires today than in the past? Damn, I
didn't know we had that many poor people. Wonder where I can find some poor folks to rob from.
That's exactly what Stalin said.
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