2000 hour wonders hired at Delta

[BoilerUP]

I got an idea then... lets get rid of all taxes and that way we can all live like it was the reign of King Henry VIII again... the poor can just struggle and make due with what the Church can give them, and the rich and powerful can live in castles and collect the fruits of their land and capital.

I've got a better idea.

How about we scrap the progressive federal income tax system and shift to a flat tax/FairTax? No income tax and instead a federal sales tax on all purchases (perhaps with an exemption for things like food, etc). That way, everybody pays taxes based on their consumption.

Isn't it "fair" to require everyone to contribute to the national coffers?

Think of how much spending could be shaved from the federal budget if you didn't need tens of thousands of IRS employees to manage, collect, and litigate based on a stupidly complicated tax code...

 

[dillfer]

God- the dumb political one liner- "you think the govt can spend your money better than you..."
What a bullsh/t statement

Actually that would be a "bullsh/t" question waveflyer. Just because you've heard it before, that doesn't make it a dumb political one liner. If you can't understand that the wealthy already pay there fair share of taxes than you are a moron. Give the rich back more of there money and they will spend it. Pretty easy to figure out. Either by job creation or by spending it on sh!t that supports everybody else. And no, I don't think the government can spend my money better than I can. Glad to see that you do. Keep volunteering your time. It's very noble of you. What you ought to do is donate at least half your check every month to the charity of your choice. That's what the rich do, although they don't get to pick the charity.

 

[HA25]

Give the rich back more of there money and they will spend it. ...

really?? I don't know too many "rich" people living paycheck to paycheck... most of them just take the money over and above what they spend and save it.. or invest it into global funds, bonds and other intangibles..

 

[IAHERJ]

The problem with giving the "rich" more money is that they don't spend it the way the middle class spends it. Robert Reich accurately points out in his new book that part of the problem in the last recession was the "idle rich" making outlandish investments(derivatives etc.) that sped up the crash we saw. They don't tend to purchase goods etc. made in this country. They invest in speculative investments that will garner big returns in the "virtual" marketplace.

 

[BoilerUP]

The problem with giving the "rich" more money is that they don't spend it the way the middle class spends it.

True...but in the case of the "rich" who derive their wealth from the value of their businesses, they use "more money" to make capital expenditures that help that business grow (computers, cars, property, aircraft, desks, hiring new staff, etc).

All those things help the economy grow, which is why it is universally accepted that raising taxes in the midst of an economic downturn is economically stupid.

Like anything there are many shades of gray, and many different levels of "wealth". I'm not talking about Wall Street billionaires and F500-CEOs with a net worth in the 9 figure range...but those considered "rich" by you and me and many others who put their wealth to work on a daily basis in a way that not only increases their bottom line, but provides massive economic benefits for local & national economies.

Think about what is happening in Wichita right now. Tens of thousands of aerospace workers have been laid off from Cessna, Bombardier & HawkerBeech due to the sharp drop in aircraft orders. Who buys a "luxury" new business jets? Businesses & the "fat cat" wealthy. In the case of Wichita and the state of Kansas as a whole, their economy is falling off a cliff with huge unemployment and cascading business failures because of 1. the economic downturn and 2. the vilification of the "rich".

I'm not giving the "reckless rich" a free pass on their greedy actions that helped sharpen the pain we've all felt...but again, there are many shades of gray when it comes to the "rich" that don't tend to fit populist talking points.

 

[Amish RakeFight]

Its funny how you folks stick up for the rich. The richest guy on the board is probably NJOwner (with all due respect), shuffling around from deal to deal. Not a line pilot or an NJ pilot or retired "millionaire" pilot. You're all broke in comparison.

 

[jonjuan]

Its funny how you folks stick up for the rich. The richest guy on the board is probably NJOwner (with all due respect), shuffling around from deal to deal. Not a line pilot or an NJ pilot or retired "millionaire" pilot. You're all broke in comparison.

Jealous much? Don't be a hater.

 

[HA25]

True...but in the case of the "rich" who derive their wealth from the value of their businesses, they use "more money" to make capital expenditures that help that business grow (computers, cars, property, aircraft, desks, hiring new staff, etc).

So would you mind explaining to us the 2,000,000,000,000 in cash sitting in the coffers of big business today that could otherwise be used to invest in new jobs, manufacturing, equipment or God forbid higher wages (and thus more spending by us consumers)? There is a record amount of idle capital on hand today and giving them further tax cuts (or keeping the Bush tax cuts) will not suddenly and magically loosen their wallets..

Not advocating all out socialism, but there is a happy balance... and the pendulum has been swinging towards business since the early 80's... the same time debt has sky rocketed.. productivity has sky rocketed and wages and quality of life have taken a plunge..

What's wrong with this picture?

 

[Amish RakeFight]

Jealous much? Don't be a hater.

I am jealous (who wouldn't be), but realistic. I know what benefits me and my ilk. What some espouse here on the board is not in their best interest, especially when it comes to taxes.

 

[Amish RakeFight]

So would you mind explaining to us the 2,000,000,000,000 in cash sitting in the coffers of big business today that could otherwise be used to invest in new jobs, manufacturing, equipment or God forbid higher wages (and thus more spending by us consumers)? There is a record amount of idle capital on hand today and giving them further tax cuts (or keeping the Bush tax cuts) will not suddenly and magically loosen their wallets..

Not advocating all out socialism, but there is a happy balance... and the pendulum has been swinging towards business since the early 80's... the same time debt has sky rocketed.. productivity has sky rocketed and wages and quality of life have taken a plunge..

What's wrong with this picture?

Interest rates are low. Companies are borrowing and saving, but not hiring. They're financing their future, now, while rates are low. It's not trickling down at all.