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The pope on income re-distribution
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isobars



Joined: 12 Dec 1999
Posts: 14321

PostPosted: Tue May 06, 2014 9:34 am    Post subject: Reply with quote

nw30 wrote:
Why would the wealthy sit on their cash? That makes no sense.
Then they'd be living in one small modest house, and driving cheap cars.

Like Warren Buffett? But at least he puts what money he doesn't give away to work.
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pueno



Joined: 03 Mar 2007
Posts: 2705

PostPosted: Tue May 06, 2014 9:54 am    Post subject: Reply with quote

Mr. Fick-shun wrote:
nitwit30 wrote:
Why would the wealthy sit on their cash? That makes no sense.
Then they'd be living in one small modest house, and driving cheap cars.

Like Warren Buffett? But at least he puts what money he doesn't give away to work.

Yeah, and he likes Obama. So you guys shouldn't talk about him. It might rot your brains.
.
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mac



Joined: 07 Mar 1999
Posts: 5365

PostPosted: Tue May 06, 2014 11:11 am    Post subject: Reply with quote

Reasoning continues to escape the righties, particularly NW, who proves, again, highly amusing with false logic:

Quote:
They spend, and spend, spending is good, and it doesn't matter what they spend it on, spending is the life blood of the economy. So the more rich people we have spending on whatever, the better it is for everybody.


Oh, if only it were true. With a consumer economy driving 70% of economic activity, consumer spending matters. But the richest 1% make an average of over $380,000. The richest 0.1% make over $1.6 million a year, and get 50% of the capital gains. Those two groups have captured nearly all of the income growth in the economic recovery to date. Neither income group spend anywhere near their proportion of income on consumer goods. And there is no requirement that they invest in American companies for their capital gains. So our tax policies have stimulated a flight of capital from American businesses and consumption.

This is not an accident, it is GOP policy.
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coboardhead



Joined: 26 Oct 2009
Posts: 1960

PostPosted: Tue May 06, 2014 11:34 am    Post subject: Reply with quote

This is an interesting take on the top 10% top 20% etc. Seems this includes, at some time in their earning years, a lot of us.

http://www.npr.org/blogs/money/2014/05/05/308380342/most-americans-make-it-to-the-top-20-percent-at-least-for-a-while

I would not be the least surprised that pretty much every poster on this forum will reach the top 10% at some time. This is a family income of $111,000. Over 60% of families will reach that earning level. My brother and his spouse (both teachers) are well above that threshold now.

Do you think the Pope might mean all of us?
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nw30



Joined: 21 Dec 2008
Posts: 1803
Location: The eye of the universe, Cen. Cal. coast

PostPosted: Tue May 06, 2014 12:40 pm    Post subject: Reply with quote

mac wrote:
Reasoning continues to escape the righties, particularly NW, who proves, again, highly amusing with false logic:

Quote:
They spend, and spend, spending is good, and it doesn't matter what they spend it on, spending is the life blood of the economy. So the more rich people we have spending on whatever, the better it is for everybody.


Oh, if only it were true. With a consumer economy driving 70% of economic activity, consumer spending matters. But the richest 1% make an average of over $380,000. The richest 0.1% make over $1.6 million a year, and get 50% of the capital gains. Those two groups have captured nearly all of the income growth in the economic recovery to date. Neither income group spend anywhere near their proportion of income on consumer goods. And there is no requirement that they invest in American companies for their capital gains. So our tax policies have stimulated a flight of capital from American businesses and consumption.

This is not an accident, it is GOP policy.


And the typical policy of the dems is taxes, more taxes, and because redistribution isn't going fast enough for them, it will be time to tax even more people, in fact tax everyone, or at least try.

Sen. Introduces Bill To Test Out Taxing Motorists For Every Mile They Drive
May 5, 2014 11:19 PM

http://losangeles.cbslocal.com/2014/05/05/sen-introduces-bill-to-test-out-taxing-motorists-for-every-mile-they-drive/

You own a car? Do you depend on your car?
Tough titties.

_________________
I don't drink the 'cool' aid, I drink tequila, it's more honest.
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boggsman1



Joined: 24 Jun 2002
Posts: 3613
Location: at a computer

PostPosted: Tue May 06, 2014 1:30 pm    Post subject: Reply with quote

Its a great idea...you want less of something? Tax it!!! I spend a lot of time in traffic. If you tax people for driving , it will reduce traffic, and the time I save will equate to more work time, or windsurf time, both worth every penny of the tax.
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coboardhead



Joined: 26 Oct 2009
Posts: 1960

PostPosted: Tue May 06, 2014 2:09 pm    Post subject: Reply with quote

Federal fuel taxes have been flat (in real dollars), since 1993. And, we have spent some $1/2 trillion more on transportation than we have collected in taxes.

Wouldn't this tax actually represent a situation where income redistribution is NOT a result of the tax? Seems like the current system of using general tax dollars to support transportation is re-distribution...TO the wealthy road users.
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boggsman1



Joined: 24 Jun 2002
Posts: 3613
Location: at a computer

PostPosted: Tue May 06, 2014 2:45 pm    Post subject: Reply with quote

CB ...you're dead right, and many CATO types support more taxation of the roads, very similar to the VAT...the more you use, the more you pay!
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mrgybe



Joined: 01 Jul 2008
Posts: 2724

PostPosted: Tue May 06, 2014 3:54 pm    Post subject: Reply with quote

boggsman1 wrote:
Its a great idea...you want less of something? Tax it!!! I spend a lot of time in traffic. If you tax people for driving , it will reduce traffic, and the time I save will equate to more work time, or windsurf time, both worth every penny of the tax.

It's a terrible idea that's full of holes. Pay by the mile? An eighteen wheeler pays the same tax as a Smart car if they travel the same distance? Boggsy travels 6 miles in an hour on clogged SF highways so pays a tenth of someone in the boonies who travels 60 miles in that same hour? Out of state traffic pays nothing? I most certainly don't want to pay for yet another bunch of bureaucrats to collect data on my travel habits. It's just another attempt to intrude into our lives.
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coboardhead



Joined: 26 Oct 2009
Posts: 1960

PostPosted: Tue May 06, 2014 4:49 pm    Post subject: Reply with quote

mrgybe

How do you propose the Tesla owners pay for their share of the road costs? Tax the Range Rover Drivers?
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