The 'factory owner' paid for all those tax-paid services (military, police, fire protection, roads) at a higher rate than the average taxpayer.

Attention liberals: do not tie the basics of society to unAmerican socialist claptrap and confiscatory taxation.

>> ^quantumushroom:

The 'factory owner' paid for all those tax-paid services (military, police, fire protection, roads) at a higher rate than the average taxpayer.

No, he didn't. Capital gains taxes are lower than income taxes.

For average taxpayers, payroll tax is the biggest share of their tax burden, followed by sales tax, followed by income tax.

For the wealthy, their tax burden is mostly split between income tax and capital gains, and since capital gains is significantly lower than income tax, they do their best to rearrange their income so it comes in as capital gains.

That's how Warren Buffet's secretary winds up paying a higher effective rate than Warren Buffet.

*promote

Self promoting this video and sending it back into the queue for one more try; last queued Tuesday, September 20th, 2011 8:16pm PDT - promote requested by original submitter NetRunner.

Ovaries of Steel.

Finally! An American woman politician who actually makes sense.

*talks

And didn't this factory builder/job creator shop around initially to get the best price for the land, and the construction, and whatever other services are needed? So didn't the tax payers of that area basically give them a better deal on all of that at the beginning so everybody would benefit?

There should be a mutually beneficial situation there, but then greed and power play footsie under the table, unregulated and destructive.

I agree with everything but the Medicare drug program. It may not have been done right, but something had to be done. My retired, diabetic mother was paying $800 a month out of her pocket for what her insurance didn't cover. Now that she's on medicare, she can now get her medicine and afford a few luxury things like groceries.

>> ^jimnms:

I agree with everything but the Medicare drug program. It may not have been done right, but something had to be done. My retired, diabetic mother was paying $800 a month out of her pocket for what her insurance didn't cover. Now that she's on medicare, she can now get her medicine and afford a few luxury things like groceries.


Single Payer...and we should be paying the same as Canadians do for their drugs.

>> ^quantumushroom:

The 'factory owner' paid for all those tax-paid services (military, police, fire protection, roads) at a higher rate than the average taxpayer.
Attention liberals: do not tie the basics of society to unAmerican socialist claptrap and confiscatory taxation.


Dude you've been fed bullshit all your life. Go to fucking school and learn about economics, or shut the hell up.

In the seat she's campaigning for, there is like no chance she won't be elected.

Agreed that this is how it FEELS, primarily because everyone is familiar with the 'marginal tax rate' in which more income moves you up to a higher bracket.

This is also a very easy story to tell, and wealthier people are effectively 'louder' than poorer people.

In reality, the U.S. government incentivizes investment with lower taxation... Netrunner mentioned this as lower taxes on capital gains, meaning money you make from simply investing is not taxed as much as money you make from actually working; wealthy people take full advantage of this, to-be-sure, and this incentive does drive investment.

One-thing-to-add; although the non-wealthy are individually less able to invest, the capital gains tax is also tiered into brackets, just like the income tax, so that if you are in the lowest income bracket you pay 0% of any "long-term" investment income in capital gains taxes (in 2011). Obviously though its hard for people scraping by to feel confident enough in their financial position to take advantage of this.




>> ^quantumushroom:

The 'factory owner' paid for all those tax-paid services (military, police, fire protection, roads) at a higher rate than the average taxpayer.
Attention liberals: do not tie the basics of society to unAmerican socialist claptrap and confiscatory taxation.

Who is this woman and why is she not president of your country?

Logic... ahhh. It's like mind candy.

Elizabeth Warren for President - get out the placards.

This is BS. Utter BS. Underlying social contract? - I think the government broke that contract a long damn time ago!!!
I hire workers that paid way to damn much for their college education.
I, and their parents, paid taxes for them to get a crappy public education before that.
I ship product on poorly maintained roads, where the person standing with the stop/go sign gets more per hour than my warehouse workers.
My employees pay taxes on the money I pay them, which I have paid taxes as well.
I pay taxes on every cent I earn and my employer pays taxes on every product we sell.
I pay for every damn thing I use and pay taxes on every damn thing I buy.
If I should happen to work my a$$ off and get rich, guess what I did it by my own damn self DESPITE the government - not because of. And it's not luck - it's hard damn work. You make your own luck.
As far as incentive's for investing by giving a lower tax rate - yep that's what we do and there is nothing wrong with that. I make money and pay taxes on it. I buy something and I pay taxes on it. I save money and I pay taxes on the interest. I put some of what I have left in the Stock market - I TAKE RISKS on investing in companies which promotes their growth and the strengthening of our economy and IF I should happen to make money off of it then that is the reward for taking the risk. I shouldn't have to pay the same tax rate as if I had gotten it from my employer. My job doesn't incur risk, investing does. If you don't give an incentive to someone for taking risk, then you have no investment. I'd just buy government bonds at some crappy interest rate- just not in California or Illinois.
Yet we all focus on the part where she mentions capital gains tax and not the other part where she mentions Medicare, Medicaid, and 2 wars? How about we focus on changing those first couple of things and get our government to run EFFICIENTLY and then come back asking for more money.

I like that she's talking about cutting warfare spending. Bravo to her.

I didn't so much like the second part. Is it a surprise? Actually the roads are paid for by, or supposed to be paid for by, gasoline tax. The more you drive, the more you pay. So, technically they've paid their "fair share" if the gasoline tax in fact does still pay for the roads. Though commonly all taxes that're set up to fund specific services in our society are now just dumped into a general fund. That's problematic, because it means she's right in a sense.

But the subsidization of education is a flimsy point. Education is compulsory. It's based on the Prussian model. So to say because it's forced upon the citizens and the citizens are forced to pay for it, that the corporations owe the citizens is specious.

But! But! I say fuck corporations make them pay. Not because they owe it for the reasons she's laid out here, but because they wouldn't exist without government. Corporations were created by government and are given unfair privileges you and I don't have when engaging individually in business. So fuck them, make them pay. And they do for the most part. That said, I really wish we'd all focus on ending the wars and cutting defense spending before talking about things that are less important like raising taxes.

I checked your statement, Warren Buffett Salary is a fixed $100,000/year. It's been that salary forever. He should be paying very little taxes at that bracket compared to his actual income.

>> ^NetRunner:

>> ^quantumushroom:
The 'factory owner' paid for all those tax-paid services (military, police, fire protection, roads) at a higher rate than the average taxpayer.
No, he didn't. Capital gains taxes are lower than income taxes.
For average taxpayers, payroll tax is the biggest share of their tax burden, followed by sales tax, followed by income tax.
For the wealthy, their tax burden is mostly split between income tax and capital gains, and since capital gains is significantly lower than income tax, they do their best to rearrange their income so it comes in as capital gains.
That's how Warren Buffet's secretary winds up paying a higher effective rate than Warren Buffet.

This is who I thought I was voting for in 2008 when I checked the box next to the name Barack Obama.

She wasn't talking about Medicare. She was talking about Medicare Part D, which was unfunded, ill-conceived, and made prescriptions a lot more expensive. It was wholly a giveaway to Big Pharma since the law states that Medicare can NOT bargain with drug companies which has resulted in the %40 increase in prescirption drug prices.

http://krugman.blogs.nytimes.com/2011/04/14/fantasia-in-d/


>> ^jimnms:

I agree with everything but the Medicare drug program. It may not have been done right, but something had to be done. My retired, diabetic mother was paying $800 a month out of her pocket for what her insurance didn't cover. Now that she's on medicare, she can now get her medicine and afford a few luxury things like groceries.