Tax cuts for the rich = true!

[Kire]

SHOCKER!!!

http://money.cnn.com/2006/04/05/news...ex.htm?cnn=yes

Study: Bush tax cuts making rich richer
Report: The wealthiest Americans are reaping huge gains from reduced taxes on investment income.
April 5, 2006: 7:54 AM EDT

NEW YORK (CNNMoney.com) - President Bush's tax cuts for investment income have significantly lowered the tax burden on the richest Americans, reducing taxes on incomes of more than $10 million by an average of about $500,000, according to a report Wednesday.

[highwind]

Re: Tax cuts for the rich = true!

yaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay.

[Kire]

Re: Tax cuts for the rich = true!

Your arms are broken!

[Valkysas]

Re: Tax cuts for the rich = true!

I believe diving into a massibe pile of metal like that would break your arms.

so the song makes sense.

[Loki]

Re: Tax cuts for the rich = true!

Everyday is a duck-blur?

[Vonwert]

Re: Tax cuts for the rich = true!

When your high on ducky weed

[Roneatek]

Re: Tax cuts for the rich = true!

But does it help the non-rich as well? I wouldn't be surprised to see tax cuts helping rich and non-rich alike.

[Valkysas]

Re: Tax cuts for the rich = true!

I sure as hell would be.

They sure as hell arent helping the non-rich as much as they are the rich.

[Nixon]

Re: Tax cuts for the rich = true!

But does it help the non-rich as well? I wouldn't be surprised to see tax cuts helping rich and non-rich alike.

Yeah, right. I make a paltry living doing what I do. I made only slightly more than I did last year (as in 500 dollars more). But instead of getting money back, I owe the government even more money.

They already take so much of my check it's obscene. And I get nothing for it. No healthcare, no SS (it will be gone by the time my parents retire), nothing.

[Magus]

Re: Tax cuts for the rich = true!

Couldn't we all just move to Buenos Aires and live like kings?




...And queens?

[Cosmic Jeff]

Re: Tax cuts for the rich = true!

But does it help the non-rich as well? I wouldn't be surprised to see tax cuts helping rich and non-rich alike.

Logically, the rich can only get richer if the poor get poorer. The extra money weathly people reap has to come from somewhere.

[ChaosKnightXD]

Re: Tax cuts for the rich = true!

I hope this doesn't lead to another depression.

One of the steps to the Great Depression was the giant gap between the rich and poor.

I hate how the rich only look out for the rich, I hope they all die.

[Sampson]

Re: Tax cuts for the rich = true!

Another great depression is coming, but not because of this.

[Roneatek]

Re: Tax cuts for the rich = true!

Eh, I'm not sure I'm convinced that there is a limited amount of money out there and that if man X has this much of the pie, man Y must therefore "logically" have less than X. Rather, America prints as much money as it wants, since our dollar is no longer based on gold. I do not think the rich are rich because they cheat the poor or middle class. Some do of course, but I wouldn't generalize. "Logically", if the government gives tax cuts to Americans (all Americans) then the money received would be a percentage of what you would normally pay for taxes. A rich man would normally pay much more than a poor man, therefore with tax cuts he saves much more too. But this isn’t to say that the poor man doesn’t save money as well--rather, having been taxed much less in comparison to the rich man, he receives much less benefit from the tax cuts.

I would be wary about such reporting (especially from CNN) when they don't mention how this effects the rest of the nation.

[donkeyboy]

Re: Tax cuts for the rich = true!

Eh, I'm not sure I'm convinced that there is a limited amount of money out there and that if man X has this much of the pie, man Y must therefore "logically" have less than X. Rather, America prints as much money as it wants, since our dollar is no longer based on gold. I do not think the rich are rich because they cheat the poor or middle class. Some do of course, but I wouldn't generalize. "Logically", if the government gives tax cuts to Americans (all Americans) then the money received would be a percentage of what you would normally pay for taxes. A rich man would normally pay much more than a poor man, therefore with tax cuts he saves much more too. But this isn’t to say that the poor man doesn’t save money as well--rather, having been taxed much less in comparison to the rich man, he receives much less benefit from the tax cuts.

I would be wary about such reporting (especially from CNN) when they don't mention how this effects the rest of the nation.

Even though the currency is not based on gold, U.S. cannot print as much money as it wants. The more money that is printed, the less each one is worth overall, leading to inflation and a weaker dollar internationally (the Euro's already kicking our ass as it is). Even though the money is not based on metal (just printed on paper), it is legal tender with the backing of the national gold supply - Fort Knox. A poor man may be "taxed less" in terms of bulk than a rich man, but in terms of percentage of overall income, a poor man pays a much higher percentage of their total wealth in taxes than a rich man. This is not just true for income tax, but for sales tax as well. A higher sales tax will have much more impact upon you the lower your annual salary is, because you will be paying a higher percentage of your total wealth. I agree that it is not so cut and dry as a pie to be split up between rich and poor, but I disagree with some of your specific points.

On the other hand, I am outraged that Bush continues to cut taxes for wealthy Americans, while running a government in the deficit, cutting signifigant programs like financial aid for college students, and cutting National Science Foundation funds which eliminates jobs. One more reason to be pissed off at the man.