General Discussion

TBF

(36,673 posts)

12. What do you mean by

Sat Nov 22, 2014, 01:00 PM

Nov 2014

"re-invested back into the economy"? Rich folks are going to say that everything they do is re-invested back - from stock purchases to buying luxury items at high-end boutiques.

The thing that has really made a difference since the 80s I believe is the way every president has cut capital gains taxes. Investments used to be taxed the same as income but now are taxed at about 1/2 that rate. That is how the very wealthy are making money hand over fist.

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This message was self-deleted by its author [View all] kentuck Nov 2014 OP

"a progressive income tax rate of up to 90% on income that is not invested in job creation" Nuclear Unicorn Nov 2014 #1

Advocating "Trickle Down"? Here? RiverLover Nov 2014 #4

You know, all those jobs created Lex Nov 2014 #6

Time for Supply side Jesus. Hassin Bin Sober Nov 2014 #15

This is awesome...never seen it before. thx pkdu Nov 2014 #64

It's from Al Franken's book. Iirc, Lies And The Lying Liars Hassin Bin Sober Nov 2014 #145

So people who do make their money building yachts deserve to be put out of work? Nuclear Unicorn Nov 2014 #22

It's not an "either - or" situation. nt Lex Nov 2014 #26

I'm not following. Nuclear Unicorn Nov 2014 #30

If you don't know, don't presume? What 3d party, libertarians? saidsimplesimon Nov 2014 #41

whuuuu? Nuclear Unicorn Nov 2014 #49

Where was Steve Jobs yacht built? LiberalArkie Nov 2014 #84

Same place as John Kerry's? Nuclear Unicorn Nov 2014 #90

Think of the poor rich people, who cannot afford to buy luxury yachts! Erich Bloodaxe BSN Nov 2014 #103

For those in the yachting industry it is a local endeavor. Nuclear Unicorn Nov 2014 #106

I'm not. Because, if you'd paid attention, Erich Bloodaxe BSN Nov 2014 #135

"the tax hike being suggested wasn't on 'yachts' or even on 'luxury goods'." Nuclear Unicorn Nov 2014 #137

And you're right back around to supply side trickle down nonsense. Erich Bloodaxe BSN Nov 2014 #138

You either do not know or do not acknowledge Nuclear Unicorn Nov 2014 #144

it IS an either-or semanticwikiian Nov 2014 #104

That's barely coherent and what is coherent is ridiculous. Nuclear Unicorn Nov 2014 #111

and your reply is 100% non-responsive semanticwikiian Nov 2014 #115

Luxury yacht repair and maintence is a huge business in Rhode Island hack89 Nov 2014 #50

I didn't say there weren't jobs at all. Lex Nov 2014 #56

I agree- there is room for all. Nt hack89 Nov 2014 #58

Exactly. Lex Nov 2014 #62

Well, everyone, you asked how many could REALLY work in it. Here's your answer.^^^ 7962 Nov 2014 #61

Very few jobs go to production of "luxury yachts" comparatively. Lex Nov 2014 #5

The 10% luxury tax on yachts introduced in 1990 almost destroyed the US boat-building industry. Nye Bevan Nov 2014 #8

In the article --> "the recession, tighter bank rules on financing and fallout from the gulf war" Lex Nov 2014 #11

Well it's not like we can do anything about the wars. Hassin Bin Sober Nov 2014 #19

Yep. GummyBearz Nov 2014 #25

The associated sales, repair and service jobs do, however hack89 Nov 2014 #54

Of course there are. Lex Nov 2014 #60

You mean Rhode Island, home to about 0.3% of the US population, is hunky dory? Thor_MN Nov 2014 #69

RI can't be all bad. John Kerry parks his yacht there to skirt MA state taxes. Nuclear Unicorn Nov 2014 #78

Nothing bad about Rhode Island, other that arguments about the US economy Thor_MN Nov 2014 #82

It's not insignificant to the people in RI who work in the yachting industry. Nuclear Unicorn Nov 2014 #88

People who work in the yachting industry are insignificant to the US economy. Thor_MN Nov 2014 #95

Sounds more like envious cranks whining. Nuclear Unicorn Nov 2014 #97

So torch the entire fucking nation for the sake of a couple of boat mechanics.... Thor_MN Nov 2014 #99

You spent the first part of this thread grousing that the yacht industry was Nuclear Unicorn Nov 2014 #101

No, you have you head so buried up "Trickle Down" that you can't see anything else. Thor_MN Nov 2014 #112

"basing policy for the US economy on it" Nuclear Unicorn Nov 2014 #116

Please cite one time in your line of distraction where you use "example" Thor_MN Nov 2014 #122

I have posted throughout this thread that yachting is not the end-all, be-all of the US economy. Nuclear Unicorn Nov 2014 #127

Good jobs are good jobs hack89 Nov 2014 #92

Good jobs for a very small fraction of 0.3% of the popuation is a mosquito on the ass of an elephant Thor_MN Nov 2014 #98

It is not like they are a drain on the economy hack89 Nov 2014 #117

More distraction... I'm not fucking over anyone, you are fucking over most of the US. Thor_MN Nov 2014 #119

Where did I state that I oppose fairer tax laws? hack89 Nov 2014 #121

The maintenance of luxury yachts is such a tiny portion of the US economy Thor_MN Nov 2014 #126

So there should be no luxury boats at all? hack89 Nov 2014 #130

What's better for an economy... JaneyVee Nov 2014 #9

Ask the craftsmen building the boats. Nuclear Unicorn Nov 2014 #14

I will. I'm going to ask them. JaneyVee Nov 2014 #17

Money stashed in tax havens in the Caribbean and Europe doesn't contribute to the real economy. CJCRANE Nov 2014 #10

"Money stashed in tax havens..." Nuclear Unicorn Nov 2014 #18

You tax it before it gets there. world wide wally Nov 2014 #37

Taxes on goods and services sold in the US does get taxed. Nuclear Unicorn Nov 2014 #47

That is why they set up HQ's at post offices in the Cayman Islands. Ask Mitt about that. world wide wally Nov 2014 #51

I'm not sure why you sound so upset with me about that fact. Nuclear Unicorn Nov 2014 #55

I'm not upset with you at all. I just want to point out that there was a time when we taxed up world wide wally Nov 2014 #72

This article, and about a dozen more like it, belie your premise... MANative Nov 2014 #13

How many luxury yachts would be necessary to support an economy of 300 million people? truebluegreen Nov 2014 #16

How on Earth did you come to make an argument about an entire economy based on yachts? Nuclear Unicorn Nov 2014 #20

It was the most obviously bogus part of your argument. truebluegreen Nov 2014 #27

I never argued on an economy based on luxury goods. You're fighting things that are not there. Nuclear Unicorn Nov 2014 #32

OK. truebluegreen Nov 2014 #40

Not every billionaire became such by gambling on derivatives and hedge funds. Nuclear Unicorn Nov 2014 #45

You are guilty of making assumptions since I am speaking generally, not categorically. truebluegreen Nov 2014 #48

Well, I never brought up derivatives. It was a very specific charge brought to an argument Nuclear Unicorn Nov 2014 #53

Whatevs. truebluegreen Nov 2014 #120

Who is advocating for a tax on wealth... Blanks Nov 2014 #21

But a Billionaire only buys so may yachts. Alittleliberal Nov 2014 #29

They buy enough to sustain an industry that pays good wages. Nuclear Unicorn Nov 2014 #33

But the banks aren't lending enough. They got the bailouts and QE. CJCRANE Nov 2014 #36

I despise the QE policy for exactly the same reason. It pumps money into the pockets of a Nuclear Unicorn Nov 2014 #42

I dont have one dime in a savings account or CD trekbiker Nov 2014 #108

Actually it's hidden overseas. onecaliberal Nov 2014 #52

Goods and services sold in the US are taxed. Overseas corporations do not get taxed on receipts Nuclear Unicorn Nov 2014 #59

See this onecaliberal Nov 2014 #94

I don't deny the existence of tax havens. I'm saying that taxes are paid on what is Nuclear Unicorn Nov 2014 #100

Nobody here understands you, Nuke. 7962 Nov 2014 #57

I'd be OK with them not understanding me but the lack of understanding Econ 101 is disheartening. nt Nuclear Unicorn Nov 2014 #63

I should've said they dont WANT to understand. 7962 Nov 2014 #73

George HW? I didn't know you used the internet... Thor_MN Nov 2014 #71

"buying of luxury yachts is good for the economy" Veilex Nov 2014 #65

"Billionaires aren't exactly keeping their money stuffed in mattresses" Spitfire of ATJ Nov 2014 #70

Even a tax shelter is an investment, of sorts. Nuclear Unicorn Nov 2014 #75

Yeah,...the Cayman Islands does us a world of good.... Spitfire of ATJ Nov 2014 #79

Do they make winter coats in the Caymans? Nuclear Unicorn Nov 2014 #85

Face it. The BIG companies have it rigged so they pay ZERO. Some even come out ahead. Spitfire of ATJ Nov 2014 #109

90% on all income above a certain level. Period. Helen Borg Nov 2014 #74

So you advocate a return to the feudal times so we can all work for the aristocracy?? on point Nov 2014 #81

Taxing luxury goods into oblivion isn't going to add 1 dime to your pocket. Nuclear Unicorn Nov 2014 #87

Sorry the supplyside experiment evidence is in. It is a FAILURE. on point Nov 2014 #91

"There can never be enough luxury yachts to support the economy for all." Nuclear Unicorn Nov 2014 #96

You make a very fine Republican argument, Nuclear Unicorn... kentuck Nov 2014 #102

yep azureblue Nov 2014 #113

Did you know that isn't a rebuttal but rather an admission of defeat? Nuclear Unicorn Nov 2014 #114

I don't want to silence you... kentuck Nov 2014 #123

Do you have an actual rebuttal or just an accusation of Wrong-Think? Nuclear Unicorn Nov 2014 #128

The rebuttal that I have is that supply-side economics has failed miserably... kentuck Nov 2014 #131

I don't know about supply-side economics but I do know that industries, such as yachting Nuclear Unicorn Nov 2014 #132

It is not about yachts... kentuck Nov 2014 #139

"They are going to buy their yachts, whatever the cost." Nuclear Unicorn Nov 2014 #146

Would you consider these "luxury" items? kentuck Nov 2014 #150

How does someone employing people to build and maintain a yacht sacrifice the 99%? Nuclear Unicorn Nov 2014 #151

You completely confuse the point. kentuck Nov 2014 #156

Why are the jobs going elsewhere? Nuclear Unicorn Nov 2014 #158

Surely you jest? kentuck Nov 2014 #161

Lots of people up and down this thread have felt the need to tell me Nuclear Unicorn Nov 2014 #162

Basically ... kentuck Nov 2014 #163

"Do you know why?" Nuclear Unicorn Nov 2014 #165

This message was self-deleted by its author kentuck Nov 2014 #173

And all those billions in stocks, munis, or a simple interest savings account will not be touched by whopis01 Nov 2014 #107

Maybe. Nuclear Unicorn Nov 2014 #124

You're right, they aren't stuffing their mattresses... awoke_in_2003 Nov 2014 #147

I've addressed that point half dozen times. Nuclear Unicorn Nov 2014 #148

The Obamas will probably earn well over $100 million during the 10 to 15 years after his presidency. Nye Bevan Nov 2014 #2

Maybe they don't need my vote? kentuck Nov 2014 #3

Break-away wealth is a threat to democracy and foreshadows oligarchy/feudalism HereSince1628 Nov 2014 #7

What do you mean by TBF Nov 2014 #12

Except for the $7 trillion that is hidden offshore. louis-t Nov 2014 #23

No kidding - TBF Nov 2014 #46

#3-Yes. Flat tax for corporations would do away with most of the tax evasion 7962 Nov 2014 #68

I will say this lancer78 Nov 2014 #152

True, it could stop some borderline purchases. nt 7962 Nov 2014 #168

But how does that help TBF Nov 2014 #170

Oh great, another authoritarian on DU. woolldog Nov 2014 #24

bwahahahahahahahahahahahahahahahahahah....<gasp> truebluegreen Nov 2014 #28

Does spending count as reinvestment? geek tragedy Nov 2014 #31

We had a surplus at the end of the Clinton era. NaturalHigh Nov 2014 #34

That was largely because Clinton managed to avoid wars. world wide wally Nov 2014 #39

Yes, there was that too. NaturalHigh Nov 2014 #43

Other than Serbia, Iraq, Noriega... I could probably find more... Sirveri Nov 2014 #167

We would have a surplus now lancer78 Nov 2014 #153

All money should be taxed the same too abelenkpe Nov 2014 #35

K.I.S.S. kentuck Nov 2014 #38

I am old enough to remember a much smarter America 60 years ago and the 90% tax rate. DrBulldog Nov 2014 #44

+1 +1 WestCoasterDude Nov 2014 #67

I bet you do not even know that you only pay that rate IF you draw a salary making VanillaRhapsody Nov 2014 #66

Make it so PAYROLL is classified as a "cost of doing business" deduction and see salaries skyrocket. Spitfire of ATJ Nov 2014 #76

It already is SickOfTheOnePct Nov 2014 #93

One of the best kept secrets by Republicans is employers pay into Social Security too.... Spitfire of ATJ Nov 2014 #118

Also restore equal treatment of Ordinary Income, Dividend, Capital gains tax rates so no games are played on point Nov 2014 #77

I think that's going too far Prophet 451 Nov 2014 #80

Yes. This is one possible way to wrest power from the 1%, and Zorra Nov 2014 #83

That's really the only weapon the people have.. kentuck Nov 2014 #86

This message was self-deleted by its author kentuck Nov 2014 #89

If you find anyone that pays PumpkinAle Nov 2014 #105

You are missing the point. Thor_MN Nov 2014 #129

The greed is only encouraged TBF Nov 2014 #171

A few things azureblue Nov 2014 #110

The Democratic Party has been locked into supporting 39% as top tax rate for everyone.... kentuck Nov 2014 #125

I think 39% is fine- but all income needs to be treated the same, at least n2doc Nov 2014 #133

I'm also against NAFTA.I'm also against the ending of Glass Steagal.I am also against war for profit TheNutcracker Nov 2014 #134

I'm going to go out on a limb and guess your threshold of 70% taught_me_patience Nov 2014 #136

Yeah SickOfTheOnePct Nov 2014 #140

I like your name... kentuck Nov 2014 #141

You're welcome to your opinion SickOfTheOnePct Nov 2014 #143

Would I work for half pay? kentuck Nov 2014 #149

Exactly lancer78 Nov 2014 #154

Tax rates are marginal SickOfTheOnePct Nov 2014 #172

90% seems a bit high hfojvt Nov 2014 #142

Request Denied BKH70041 Nov 2014 #155

Support Denied. kentuck Nov 2014 #157

Where is Tinsky, KY? BKH70041 Nov 2014 #160

I have no idea? kentuck Nov 2014 #164

It's on someone's profile at a website. BKH70041 Nov 2014 #166

Born in '47, could be a small town that may no longer be around. nt 7962 Nov 2014 #169

Those numbers need to be reversed. Brigid Nov 2014 #159