CBO: The rich pay an outsized share of taxes

reply to post by beezzer


If we tax them more, the prices go up. If we tax them less, prices will go down.....correct?

So if we follow your premise, why have product prices not gone down when the CBO admits the very richest have seen a drop in their tax liability?

Originally posted by sheepslayer247
reply to post by beezzer

 

If we tax them more, the prices go up. If we tax them less, prices will go down.....correct?

So if we follow your premise, why have product prices not gone down when the CBO admits the very richest have seen a drop in their tax liability?

edit on 11-7-2012 by sheepslayer247 because: (no reason given)

You have stumped him...he has no answer...which is why he made his "exit thread" post.

We have tried trickle down/supply side economics for the passed two decades...it doesn't work...but they won't admit that.

Originally posted by sheepslayer247
reply to post by beezzer

 

So if we follow your premise, why have product prices not gone down when the CBO admits the very richest have seen a drop in their tax liability?

Why should they drop their profit margin just because their rates went down?

Just because they have more income does not necessitate a drop in prices with their product. Their profit margin grows, they have more wealth, they buy more stuff, they invest more, maybe hire more.
Whatever.

But when their profit margin falls, the raise prices.

QED

reply to post by beezzer


You honestly beleive in supply side economics huh???


Amazing...just absolutely amazing.

Originally posted by OutKast Searcher

Originally posted by sheepslayer247
reply to post by beezzer

 

If we tax them more, the prices go up. If we tax them less, prices will go down.....correct?

So if we follow your premise, why have product prices not gone down when the CBO admits the very richest have seen a drop in their tax liability?

edit on 11-7-2012 by sheepslayer247 because: (no reason given)

You have stumped him...he has no answer...which is why he made his "exit thread" post.

We have tried trickle down/supply side economics for the passed two decades...it doesn't work...but they won't admit that.

Um, no.

Originally posted by OutKast Searcher
reply to post by beezzer

 

You honestly beleive in supply side economics huh???


Amazing...just absolutely amazing.

No. Just keeing it simple, puddin'.

Rich people like to stay rich.

If taxes go down, they invest, increase production, so they can stay rich.

If taxes go up, they increase the price of their product, so they can stay rich.

Rather simple.

reply to post by beezzer


So what you are saying is that product prices are not actually tied directly to the rate of taxation on personal income and it is much more so effected by the socio-political mindset of the person with the money.

I'm not saying that we need to tax the snot out of people. In fact I think taxes should be much lower, but when income disparity is as bad as it is.....it should be expected that the people with the money should be paying the taxes.

You can't pay an equal share when you have almost nothing to begin with.

Originally posted by beezzer

Originally posted by buddhasystem

Originally posted by beezzer
reply to post by FreeFromTheHerd

 

And a further tax increase will just cause the wealthy business owners to raise the prices of their goods and services, which means. . . .

Wait, the Bush tax breaks didn't lead to any price decrease, so methinks your logic is faulty.

Why should it have caused a price decrease? It led to increased profits and hiring.

But not decreases.

YOUR logic is faulty.

Wait, you stated that there is a correlation between top tax margin and actual prices on goods. I gave you an example that shows otherwise. Period.

reply to post by beezzer

If taxes go up, they increase the price of their product, so they can stay rich.

That is an absolute certainty.

If taxes go down, they invest, increase production, so they can stay rich.

This is not.

It sounds to me like no matter what, we are at the whim of rich people that do whatever they want to do and we just have to live with it.

Originally posted by sheepslayer247
reply to post by beezzer

 

So what you are saying is that product prices are not actually tied directly to the rate of taxation on personal income and it is much more so effected by the socio-political mindset of the person with the money.

I'm not saying that we need to tax the snot out of people. In fact I think taxes should be much lower, but when income disparity is as bad as it is.....it should be expected that the people with the money should be paying the taxes.

You can't pay an equal share when you have almost nothing to begin with.

I'll try to make it simple.

My opinion is moot.
My opinion doesn't matter.

Rich people like being rich.
Rich people want to stay rich.
Rich people won't take it in the wallet if taxes go up.
They will charge more for the stuff that made them rich so they can continue being rich.

Like it, hate it, love it, protest it. Whatever.

That is the simple unbiased truth.

Originally posted by sheepslayer247


It sounds to me like no matter what, we are at the whim of rich people that do whatever they want to do and we just have to live with it.

Yup.

T'is life.

reply to post by beezzer


I agree. That's why I said this:

It sounds to me like no matter what, we are at the whim of rich people that do whatever they want to do and we just have to live with it.

Originally posted by sheepslayer247
reply to post by beezzer

 

So what you are saying is that product prices are not actually tied directly to the rate of taxation on personal income and it is much more so effected by the socio-political mindset of the person with the money.

I'm not saying that we need to tax the snot out of people. In fact I think taxes should be much lower, but when income disparity is as bad as it is.....it should be expected that the people with the money should be paying the taxes.

You can't pay an equal share when you have almost nothing to begin with.

Lower income people, up to 42%, don't pay the federal income tax.

However, for the rest of your argument -- I think the best way to go about taxation is to close loopholes in corporate tax. How come GE paid $0.00 tax last year? I mean, seriously?

Originally posted by buddhasystem


However, for the rest of your argument -- I think the best way to go about taxation is to close loopholes in corporate tax. How come GE paid $0.00 tax last year? I mean, seriously?

Ask the people who write the tax laws.

(hint, rhymes with schmoliticians)

reply to post by buddhasystem

Lower income people, up to 42%, don't pay the federal income tax.

Yup, and we also have about the same amount of people on food stamps. How can we expect people that are barely getting their basic needs taken care of to pitch in? I'd rather see that they were able to take care of themselves before we chastise them for not helping to pay the pigs in Washington.

Let's also not forget that these people do pay federal taxes during the year. They just may happen to get it back after they file a return.

Originally posted by FreeFromTheHerd

Wealthy Americans earn about 50 percent of all income but pay nearly 70 percent of the federal tax burden, according to the latest analysis Tuesday by the Congressional Budget Office — though the agency said the very richest have seen their share of taxes fall the past few years.

CBO looked at 2007 through 2009 — the latest years data are available, but enough to include the early effects of the last recession — and found the bottom 20 percent of American earners paid just three-tenths of a percent of the total federal tax burden, while the richest 20 percent paid 67.9 percent of taxes.

Rest of article

So much for those idiot politicians and their [SNIP] who constantly whine about the wealthy not paying their "fair share".

They actually pay more than their share, but as usual I'm sure they won't let facts get in the way of their pathetic arguments.

edit on 7/11/2012 by tothetenthpower because: --Mod Edit-- The End Of Political Baiting On ATS

they might pay more on paper but i doubt after their high paid accountants get hold of the plethora of loopholes the govt put in for them, that they end up paying very much, but nice try.