Why more "bailouts" when those formerly evil capitalist companies (until November 5th, 200
, top heavy with millionaire marketing staff, couldn't predict things like a decrease in SUV sales if gas prices went up a dollar or two? I can summarize in two words: unions and unions. Maybe I should throw in unions too.
If it weren't for unions these companies would be allowed to fail, and maybe that is part of the goal of unions, but the reality is that it is to placate the resurging Democratic power base. If I were Bush I'd tell that skinny little big-eared prick and his buddies to go pound sand.
Thanks for nothing Paul Ryan.
He is actually wrong in respect to not knowing where the money is going. The treasury webpage has a description of who is getting what. Also Circuit City filed for bankrupcy and best buy or circuit city would not qualify for bailouts.
In regards to his comment about Obama, he was talking about income from the top 5%, not businesses. I continue to find it amazing how people don't understand this. Also, AIG is an insurance company, not a mortgage company.
"about Obama, he was talking about income from the top 5%, not businesses."
wow.
so delusional. where do i even start?
I will start fo you. Obama is looking to tax the "income" of the top 5% of earners. Which means, when you get a "paycheck" and are considered in the top 5% of income earners, you will be paying more for taxes. Did Obama say anything about Corporate tax rates? Do you have any information about his corporate plans? I found some info on forbes.com which says Obama is going to lower the corporate tax rate. Instead of calling names(again), why don't you actually do some research SU.
Did Obama say anything about Corporate tax rates?
Yes, he did.
For the record increasing anyone's taxes in this economy is idiocy.
Making an argument that somehow the top 5% do not pay their fair share when they are shouldering 50% + of the over-all of burden is just stupid.
I've asked this question before LSTW no liberals want to answer it.
How much is too much to take of anyone's income?
In short, combining state, federal and local taxes what percentage is too much to take of any person's income?
I'd love to hear your number.
(I would consider anything over 49% immoral personally)
The Obama-mama Oprah is one of the richest people in the WORLD! I'll make a wager that her "income" in NOT in the top 5%. She is smart and has lawyers to find all the loopholes, but of course this applies to just about all of the top 5%.
Jack, you are correct. Most of the top 5% of incomes in this country find ways to avoid paying taxes. Mostly with charitable donations that reduce their amount of taxible income. The problem is, if you take away that opportunity, the charities will no longer be getting that money and it will instead go to the government. What I would like to see is a cap on the amount of charitable donations one can make in a tax year.
Fred, the reason I don't think you have gotten an answer to your question is because I don't think there is one, or if there is, it isn't easy. You cannot say how much is too much. This is because if you say 20%, it might not be too much for people making more than X amount of dollars, but what about the people making less than X amount of dollars? The question you posed is similar to the debate about a flat tax rate. A flat tax would work for those in the middle, but would be too much for those on the low income side and not enough for those on the high income side.
I am losing 22% out of my paycheck each week to taxes. I, because I know how to plan my finances, am able to afford this. To answer your question directly, I would say 40%.
You are right in saying that raising taxes in our current economic state would be stupid. That is why Obama has said he would put off his economic plans until the economy has stabilized.
"Obama has said he would put off his economic plans until the economy has stabilized."
You betcha.
Over under is 90 days within taking the oath....bad economy or not.
I'll take the under.
Since you guys are in the "what percentage tax is fair" discussion, what is a "stabilized economy" - one that isn't losing more than 1,000 jobs per hour, one where CPI increases less than 1% per quarter, one in which growth is not negative (if so, what positive number), one in which inflation is under 10% or 7% or 3%, one in which consumer confidence stays the same for two quarters or three, or other possible metrics?
Why increase financial regulation when laws on the books have been broken? Start with throwing every bond rater who aided the current mess in jail. Why call for gun control when people walk for felonies? And. . . why raise taxes on the "rich" when there are many people who are breaking the law to do so, not using cool loopholes. Charlie Rangel and Al Franken are celebrities who owe taxes - we will be lucky to see that money, let alone give them fines or jail time. The reason I chose those names is because they call for higher taxes, not that they happen to be Democrats.
Boy, that guy seriously needs to switch to decaf...
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