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Thread: The GOP circus is over. The clowns and elephants are all back in their cages.

  1. #41
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    Chris's Avatar Senior Member
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    Quote Originally Posted by Awryly View Post
    Sorry. I forgot. You trickle down.
    No, that's Keynesian economics, and baloney, trickle down, trickle up, it's nonsense to think any government stimulus spending has a multiplier effect.

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    Quote Originally Posted by Awryly View Post
    Do "fiscal conservative principles" involve balancing revenue with expenditure from those able to pay? Or just expenditure with folly?
    I don't know about the Land of the Orcs (NZ), but in America the top 20% pay ~84.2% of the federal income tax. Would it be more fair for them to pay 94% of the federal income tax?

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    Quote Originally Posted by Chris View Post
    No, that's Keynesian economics, and baloney, trickle down, trickle up, it's nonsense to think any government stimulus spending has a multiplier effect.
    The multiplier effect tends to range from .60-.74%. That = failure to me.

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    Quote Originally Posted by Peter1469 View Post
    I don't know about the Land of the Orcs (NZ), but in America the top 20% pay ~84.2% of the federal income tax. Would it be more fair for them to pay 94% of the federal income tax?
    During my career I have paid 66% on my top dollars. I paid that because I made more money than most. In any society that considers itself fair, that's what happens. Some people moan about it and try to avoid it. More don't.

    All you are saying is that the rich should pay no more than the poor. And we know the likes of Romney pays less than poor earners do.

    It's simple. We are not that screwed up.
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    Quote Originally Posted by Peter1469 View Post
    The multiplier effect tends to range from .60-.74%. That = failure to me.

    Mm. The "multiplier effect" saved the American auto industry and has allowed it to become competitive.
    Come sit down beside me I said to myself
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    Quote Originally Posted by Awryly View Post
    During my career I have paid 66% on my top dollars. I paid that because I made more money than most. In any society that considers itself fair, that's what happens. Some people moan about it and try to avoid it. More don't.

    All you are saying is that the rich should pay no more than the poor. And we know the likes of Romney pays less than poor earners do.

    It's simple. We are not that screwed up.
    And when the majority pays no federal income taxes they will vote for more for you!

    I didn't include state and local taxes in my figures. Don't forget that.

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    Quote Originally Posted by Awryly View Post
    Mm. The "multiplier effect" saved the American auto industry and has allowed it to become competitive.

    Nonsense. It is a funny claim though. You clearly aren't understanding the issue.

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    Quote Originally Posted by Peter1469 View Post
    Nonsense. It is a funny claim though. You clearly aren't understanding the issue.
    So what did save the US auto industry?

    Dick Fuld?
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    Quote Originally Posted by Awryly View Post
    So what did save the US auto industry?

    Dick Fuld?
    No. The fake bailout kicked the can down the road. It didn't solve the fundamental problems in those companies. Expect them to enter bankruptcy again within the next few years.

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    The top 20% of the US population accounts for 10 Trillion of GDP. That is 2/3rds of the National GDP of 15 Trillion.

    They pay 1 Trillion towards to yearly Federal Budget of 3 Trillion. Thats 10% of their gross wealth, land, assets, etc. That 1 Trillion, is in the form of taxation on their PROFIT, which comes from gains from having all that GDP which generates additional wealth by a form of taxation on the middleclass, low income and poor, in the form of RENT, as well as LOANS, as well as INSURANCE (which the rich own).

    Meanwhile, the 80% of rest of USA has to pay 2/3rds or 2 Trillion dollars of the yearly Federal budget, out of their share of 5 Trillion GDP, which is nearly HALF of their gross, and which is extremely hard, since they are already having to pay the Wealthy 20% share of income tax which the rich extract from them by RENT,LOANS, and INSURANCE fees, as well as the various other legislation the rich get Congress to enact, that makes small business have MORE regulation, while Corporations have LESS.

    So really, stop the BULCRAP about how overtaxed the rich are, because it is insulting. Most of the $#@!s have figured out, like Romney, how to have ALL their income classified as Capital gains, so they pay only 15%, and where property taxes and other taxes are levied, they get that through: RENT, LOANS, and INSURANCE fees, since they are the OWNERS of the LAND, the BANKS, and the INSURANCE corporations.

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