General Discussion

whatthehey

(3,660 posts)

11. Well it's a big one sure

Mon May 2, 2016, 02:51 PM

May 2016

I have no idea why policy setters seem entirely ignorant of the marginal propensity to consume. $1000 lower taxes for Bill Gates? doesn't change a damn thing in his consumption pattern. Won't even notice. $1000 lower taxes for me? Probably goes in the IRA and gets banded back and forth among the investor class, driving no additional consumption at all. $1000 lower taxes for a struggling family? Gets spent on unmet needs 100%, almost always on local C sector spending. I don't have a car that needs fixing. I'm not drying clothes by hand because I can't afford a tumble dryer. I'm not desperate for new clothes but limited to Goodwill hand me downs. The opposite is true, even more so. Tax Bill $1000, heck $100,000 more and he never notices. Tax me $1000 more and if I do notice it doesn't change my consumption one iota (the 100k will of course!). Tax those poor underwater folks $1000 more and every penny is reduced consumption, reduced expenditure in local businesses.

But we should also be spending less at the DoD and refining how we deliver social safety nets and healthcare to become more efficient too. I've worked for pharma companies. The US price premium is the other side of unconscionable and accelerating.

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The USA only has one fiscal problem: Lack of political will to tax those who have all the money. [View all] Scuba May 2016 OP

Chip shot back to the top and a rec. nt ChisolmTrailDem May 2016 #1

Actually add one other issue nadinbrzezinski May 2016 #2

Absolutely right Fresh_Start May 2016 #28

Works wonders for "undocumented" immigration. 1939 May 2016 #61

I wasn't thinking about undocumented immigration Fresh_Start May 2016 #88

Bingo, nadin! Dont call me Shirley May 2016 #45

Revoke corporate charters. SomeGuyInEagan May 2016 #57

Jail & confiscation of their assets & those of partners & family. Ghost Dog May 2016 #58

Any organization is like a septic tank 1939 May 2016 #62

Be careful about the broad brush there nadinbrzezinski May 2016 #91

Sorry. Did not mean "Revoke all ..." But do states EVER revoke a corporate charter? SomeGuyInEagan May 2016 #104

It happens, but not with the big boys and girls nadinbrzezinski May 2016 #106

Absolutely right... punish the big guys.. and the small guys will suffer too.nt clarice May 2016 #114

The more money you have - the more "Right Offs" you have FreakinDJ May 2016 #77

The fundamental issue with under-regulated capitalism. nt. MH1 May 2016 #87

Since President Obama's reelection, the top rate of income tax on the rich has increased by 4.6%. Nye Bevan May 2016 #3

still not enough if we are forced to cut programs like food stamps. tk2kewl May 2016 #8

Sure. Nye Bevan May 2016 #19

Income Taxed. Not Unrealized Capital Gains scottie55 May 2016 #52

So every year 1939 May 2016 #64

that is hardly a lot of money for the vast majority of people Fast Walker 52 May 2016 #70

Lots of older people would need to sell their houses, Nye Bevan May 2016 #74

well, one solution would be to exempt houses and businesses from the CG tax Fast Walker 52 May 2016 #102

They are taxed. 1939 May 2016 #82

Can you provide a source, because I've heard differently? Fast Walker 52 May 2016 #103

Here 1939 May 2016 #110

thanks! So that table shows how someone with low regular income Fast Walker 52 May 2016 #119

Had to do a bit of looking 1939 May 2016 #122

cool! Fast Walker 52 May 2016 #124

the lack of capital gains tax is freaking insane Fast Walker 52 May 2016 #69

I think that here is the thinking on that 1939 May 2016 #125

I like it! Now if we can only get Congress in the control of sane people... Fast Walker 52 May 2016 #127

As closely divided as the country may be 1939 May 2016 #128

The income tax rate doesn't affect a lot of the rich. Like Steve Jobs was only paid $1 a year. LiberalArkie May 2016 #15

Leona Helmsley Dyedinthewoolliberal May 2016 #20

Yea, she is the one who let out their secret. LiberalArkie May 2016 #25

Yeah, and she went to prison for it. Indydem May 2016 #31

And they're only taxed when they sell the shares. Calista241 May 2016 #49

What about the estate tax? lumberjack_jeff May 2016 #21

The estate tax lancer78 May 2016 #123

WTF!? Phlem May 2016 #24

Do they pay it? n/t SujiwanKenobee May 2016 #44

actually since Obama's re-election hfojvt May 2016 #59

More than that 1939 May 2016 #63

Yes, just more proof that there arent enough rich people to make a big difference. 7962 May 2016 #71

That's a false argument ProfessorPlum May 2016 #80

Its not a "false argument". 7962 May 2016 #95

Rich folks don't circulate a ton of it ProfessorPlum May 2016 #101

Reelection, why use his reelection as a comparison point? fasttense May 2016 #90

Exactly. FDR figured this out. Progressive countries today have not forgotten. pampango May 2016 #4

In my view, taxes are too high. n/t Kang Colby May 2016 #5

I am finally one of the privileged few. I don't have to pay taxes any more. LiberalArkie May 2016 #27

Thanks for The Enlightening Post ProfessorGAC May 2016 #81

Too high for what? Gore1FL May 2016 #85

There's more than 1 fiscal problem maxsolomon May 2016 #6

I'm so glad you recognize this ... 1StrongBlackMan May 2016 #10

It's a tempting rebuttal, but that way madness lies whatthehey May 2016 #13

exactly-- the Pentagon is a very costly, inefficient and highly polluting jobs program Fast Walker 52 May 2016 #67

Presumably, the money would be spent elsewhere. lumberjack_jeff May 2016 #23

aeronautic engineers ... 1StrongBlackMan May 2016 #29

Well then they can run a bulldozer! Indydem May 2016 #32

Then get them the skills they need. lumberjack_jeff May 2016 #35

Okay. 1StrongBlackMan May 2016 #38

You cannot GIVE anyone skills FrodosPet May 2016 #84

It always seems that the only people given the advice to "get the skills for the new economy" lumberjack_jeff May 2016 #92

They could learn! I've got degrees, but I worked as a waitress, a dishwasher, and all JDPriestly May 2016 #43

Okay. 1StrongBlackMan May 2016 #47

There was a big cutback in 1974 1939 May 2016 #65

Apparently not. According to some, aero engineers are incapable of change ... SomeGuyInEagan May 2016 #105

We could use passenger planes that pollute less, that use less petrochemical fuel. JDPriestly May 2016 #108

Sure they do, and with minimal retraining. Materials change, the math and engineering skills do not. hunter May 2016 #111

Isn't the interstate highway system technically a military installation? LisaM May 2016 #86

I think you're right, and this is a good point. n/t lumberjack_jeff May 2016 #93

No, it's not ... 1StrongBlackMan May 2016 #112

They can get jobs as Uber drivers FrodosPet May 2016 #83

Get rid of military contractors doing work that the military used to do for itself- KittyWampus May 2016 #96

I agree. 1StrongBlackMan May 2016 #99

In my state (CA) it makes for a volatile tax base. Throd May 2016 #7

bernie is free to pay way more tax than he does with his low tax rate and all. He could chip in msongs May 2016 #9

Jeezus... straight out of the Republican playbook. You must be very proud. Scuba May 2016 #12

More and more of them sound like Republicans these days. alarimer May 2016 #22

Wow. Just Wow. Phlem May 2016 #34

Just imagine the record turnout to vote for HRC! Enthusiast May 2016 #40

bernie is free to pay way more tax than he does AlbertCat May 2016 #36

Uhhh no Lurker Deluxe May 2016 #41

Yes if you want to overpay what you owe you must send it to the Bureau of the Fiscal Service PoliticAverse May 2016 #126

Speaking of which, why don't you do that? MisterFred May 2016 #56

Neither do any others in that bracket. Never do. 7962 May 2016 #75

Well it's a big one sure whatthehey May 2016 #11

"$1000 lower taxes for a struggling family?" Indydem May 2016 #33

millions of them, and yes whatthehey May 2016 #78

You're forgetting about the EITC, etc 7962 May 2016 #76

Evven if anecdotes like this (not data) are true whatthehey May 2016 #79

Sorry, but Ive seen the checks. They DO get that much and more 7962 May 2016 #94

Then they had to have paid it in whatthehey May 2016 #98

I dont know what youre looking at, but with 3 kids you get over 6k "credit" 7962 May 2016 #120

Nearly. But too many act as if there is no harder work necessary to solve the problem. jtuck004 May 2016 #14

First big tax cut of my lifetime 1939 May 2016 #66

It was LBJ that passed the JFK tax cuts NobodyHere May 2016 #109

You say that as if most members of Congress don't have shit tons of money themselves YoungDemCA May 2016 #16

"You say that as if most members of Congress don't have shit tons of money themselves" Phlem May 2016 #26

Yep. hunter May 2016 #17

Robert McChesney and John Nichols say in their book "People jwirr May 2016 #18

It isn't that they lack the will. sulphurdunn May 2016 #30

Or better... Helen Borg May 2016 #37

Scuba you are absolutely right on. Enthusiast May 2016 #39

Bingo! Punkingal May 2016 #42

true MariaThinks May 2016 #46

Word. nt babylonsister May 2016 #48

Amen to this. jonestonesusa May 2016 #50

Sell outs and cowards. Nt azmom May 2016 #51

The loophole lobby Babel_17 May 2016 #53

I'm inclined to think the federal tax rates are good and progressive bhikkhu May 2016 #54

actually they are not hfojvt May 2016 #60

Amen. raven mad May 2016 #55

progressive taxation is an extremely important way to keep the oligarchs in check Fast Walker 52 May 2016 #68

Simple solution! secondwind May 2016 #72

Fantastic! K&R! eom Betty Karlson May 2016 #73

This is sorta like asking a fly Plucketeer May 2016 #89

K&R ReRe May 2016 #97

here is a quote from Upton Sinclair that explains why our govn't doesn't tax the rich... Javaman May 2016 #100

Its not political will it the ignorant Americans, still cannot see what is being done rladdi May 2016 #107

Scuba.... you know that I love you... but do you really think that is the answer?nt clarice May 2016 #113

They're hiding trillions, so yeah. Scuba May 2016 #115

Who is hiding trillions? I can only think of Soros and that crowd... I doubt that..... clarice May 2016 #116

Wake up and smell the coffee .... Scuba May 2016 #117

yawnnnn....sniff sniff...is that Chicory? nt clarice May 2016 #118

Don't forget the huge amount of the budget that goes to our bloated military. nt tblue37 May 2016 #121