Reply to Why do you resist being called rich?

Forum Index » Money and Finances

Reply to "Why do you resist being called rich?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

This is such BS. No one is taking your money and giving it to someone else. Taxes go for a fraction of welfare and the rest  for running this country.

[/quote]

Wrong.  Redistribution is already the largest function of the federal government, via programs like social security, medicare, and medicaid which constitute more than half of all federal spending.  [/quote]

You are right.  But the BIGGEST financial redistribution over the last 30 years has been into the top 1%.  The top 1%, 2%, 5% and 10% now own significantly more of the personal wealth of the nation than they did 30 years ago.  The tax laws, loopholes, have now gotten to the point that the wealthy and the rich pay less into the system than they have in many years.  Yes, even restoring the taxes to the Clinton levels as the fiscal cliff was set to do still means that those making over $250K net are taking home more than any other time (other than during the Bush 43 years) than they have in the last 30 years.

The problem is the way lobbying has changed predominantly in the last 20 years.  It used to be that lobbyist groups would go to a member of Congress and say they needed an earmark to fund a project.  The member of Congress would find a bill to tag some allocation of money to the project and when that bill passed, the earmark would allocate funds.  However, now with the new push against traditional earmarks, when a lobbyist wants to get an earmark, they go to their member of Congress and instead of tagging a single expense to a bill, the member of Congress tags a change to the tax code onto a bill.  The problem with this is that the tax code change does get the lobbyist what they need, but also many other people in the same class/category as the lobbyist gets the same tax break.  It is currently estimated that  tax code earmarks have topped $8B, which is significantly more than traditional earmarks have cost.  And this is another part of why the deficit is geting bigger and why wealth redistribution is going on.  The amount of wealth redistributed upwards via earmarks is far greater than the wealth distribution of money downward by social programs.[/quote]

I am pissed I wasted my time reading that long & misguided piece of crap response.[/quote]

Darling, DCUM is, by definition, a waste of time. If your time is so precious, why are you here in the first place? [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics