A new tone in the approaching election year echoes the spirit of Robin Hood, the legendary English archer who robbed the rich to give to the poor. This time it is taxes, not robbery, but the principle is the same.
Among the latest indicators was President Barack Obama’s populist call for a level economic playing field in a speech in a Kansas high school gym. He referred repeatedly to Theodore Roosevelt’s 1910 speech, also in Osawatomie, pressing his unsuccessful presidential bid through his Bull Moose Party. Roosevelt urged “a graduated income tax on big fortunes” and a graduated inheritance tax, “increasing rapidly in amount with the size of the estate.” In an earlier speech, he had coined the epithet “malefactors of great wealth.”
Mr. Obama assailed the “breathtaking greed” that contributed to the 2008 financial panic and the continuing sluggish economy. He said the average income of the top 1 percent had gone up by more than 250 percent to $1.2 million a year.
The influence of the Occupy Wall Street movement has spread across much of the electorate, with concern over the wealth and income gap between the super-rich and the rest of Americans. Its slogan, “We are the 99 percent,” has struck a resonance reaching far beyond its modest numbers.
Maine’s Sen. Susan Collins has evidently felt the same concern over the increasing wealth and income disparity. In explaining why she was the sole Republican senator to vote to continue the payroll tax cut beyond its Dec. 31 expiration, she used one of Mr. Obama’s favorite phrases, “the millionaires and billionaires.” Sen. Olympia Snowe voted against an earlier version that would have added a surcharge on incomes of $1 million or more. She argued that such a tax would hurt small businesses.
In her joint introduction of a job creation bill with Democratic Sen. Claire McCaskill of Missouri, Sen. Collins said the proposal would be paid for by a surtax on taxpayers earning more than $1 million per year as well as “unnecessary tax subsidies” for big oil companies. She provided, however, for a “carve-out to protect small businesses, which typically pay taxes through the individual income tax system.” Most other Republicans have been protective and respectful for the big rich, who of course are their biggest political contributors.
Politicians from both major parties always have spoken of their high regard for the poor and middle class, but this outspoken populism and determination to do something about the economic gap looks like a sea change in national politics. The old conservative line that tax benefits for the rich will trickle down and help those on lower rungs is being stiffly tested by the Democrats. So is the conventional theory that it is the super-rich who produce jobs. Their yachts and mansions suddenly are getting more attention than their philanthropies.
As the rich get richer and the poor and middle class get poorer or struggle to stay in place, this new element promises to figure in the 2012 elections. The 99 percent are getting fresh attention from politicians who are listening.
Its election season they will pretend we count till the day after the election
The politicians will smile (picture) until after Nov 2011. Then they will go back to their fat, dumb & happy ways.
They are more concerned w/ providing for the fifteen (15) million ILLEGALS than the low middle class citizens. Which is why the LARGE Electoral States control our sorry state of affairs.
I’m afraid Senator Snowe is now one of the 1% and has been caught up in the immoral cycle of payoff for votes typical of the Washington DC circus.
In 2001 she was appointed to the Senate Finance Committee – the committee that writes laws that are supposed to regulate Wall Street. Just two years later (2003) her reported wealth jumped from a few hundred thousand dollars to multimillionaire levels. How did this happen? No one has ever asked her.
Records show that her husband’s business apparently took off. His partner (40%) owner in his company, is Goldman Sachs, one of the too-big-to-fail Wall Street banks.
In the years leading up to the 2008 financial melt–down Senator Snowe voted against regulating her 40% partner and then voted to bail Goldman Sachs out with billions of dollars when their unregulated practices brought our economy to its knees.
Two Goldman Sachs executives sit on her company’s board of directors and determine McKernan – Snowe’s compensation.
She votes against regulations and for giving billions to Goldman Sachs. Goldman Sachs votes on the board of directors to give her millions.
Nice arrangement.
“Breathtaking greed.”
Hmmm…isn’t it funny that you focus only on Republicans, when we all know that Wall Street bought and paid for Obama. Look at his Treasury Secretary and all of the donations he got from the investment crowd.
Try a relevant comment next time. Republicans? JasonWeb’s entire comment is about Olympia Snowe, who half the time is referred to as a RINO. Second, it’s not about political parties. It’s about politicians working for more than the select few hyper-rich. Actions speak. I think Obama fighting for tax cuts for the working class and the creation of the Consumer Financial Protection Bureau kind of negates your nonsensical remarks.
“Half the time”?
Prove it.
Oh, I forgot, evidence to back up your statements is only good enough for OTHER people. Some animals are more equal than others, I guess.
No Obama plays class warfare all of the time. He is fighting to create a socialist society here in this country. All of his bailouts have failed, car company bailouts failed, credit ratings downgrade, Solyndra and now Siga (google Siga & CNN or Siga and CNN’s Drew Griffin) under federal investigation. Obama has done nothing to deserve re-election. He needs to be sent packing on January 20th, 2013. We need real change with real leadership with a bold vision to get this economy going. Instead we have had 3+ of years of absolutely nothing done. Everyone being subsidized, more people collecting Welfare, less people paying taxes. Unemployment above 8%, with everything falling apart but as Democrats would say we are moving foward it’s shared prosperity, shared sacrifice.
Wrong, Wall Street contributes much more to Republicans because those bribes pay off ie bailout pushed by Bush and the GOP, current Republicans In Congress trying to water down recently passed Wall Street reform. Republican cheerleaders lie and deceive EVERY SINGLE DAY.
Really who bailed out Wall Street, Big Banks, Car Companies, Ethanol subsidies and increase to 15% ethanol when cars have hard time running 10% ethanol. Failed Stimulus programs that went to states to expand Welfare. Solyndra and now Siga under federal investigation. The unemployment rate that now will not go below 8% through next year if anything will go back up to according most experts. How is that hope and change working for you because for the majority of us it stinks. Never trust Liberals or any Democrat who claims to be conservative because they will pick every pocket you have and take you for a ride to the poor house.
The rich have robbed the middle class and the poor to get one special tax break after another, since Reagan’s time. Stopping these special favors can hardly be equated with “robbing the rich.”
What tax break does the rich have that i do not?
Under Obama’s plan to (slightly) increase taxes on the very wealthy to around 39%, they would pay far less in taxes than they did under Reagan (50%) or Nixon (70%)–and a whole lot less than under Republican President Dwight D. Eisenhower (91%).
[http://politics.gather.com/viewArticle.action?articleId=281474977623449]
Whenever revenues from taxes on millionaires go down, revenues from other sources have to increase–or else spending cuts must be made (or both). America’s infrastructure (highways, bridges) has been rotting for years. Social programs are chronically underfunded. But the current crop of Republican politicians are not satisfied with that.
They arranged for wars in Iraq and Afghanistan without providing any additional funding for them–and while CUTTING taxes for millionaires and billionaires. It wasn’t an oversight. They did this in order to have an excuse to demolish the social safety net.
Slicing the social safety net means that in spite of there being about 5 job-seekers per available job in the US, Republicans foment against unemployment benefits. They claim we can’t afford national single-payer health insurance, though tens of millions of Americans either have no health insurance or are under-insured and at risk of going bankrupt if anyone in the family has a serious illness.
They count on the middle class and working class buying into the idea that they, themselves, could not possibly lose their job or get terribly ill–that only losers and whiners become unemployed or ill and can’t dig themselves out on their own.
Americans are suffering. Ordinary people have less money to spend, which means local businesses are losing customers and will be laying off our friends and neighbors–maybe laying us off, too. Yet millionaires and billionaires keep clamoring for their taxes to be cut again and again and again.
Their tax rate has fallen about 50% over the years. Have your taxes gone down that much?
High taxes and increased government spending are opression, regardless of which party does it and how they spend. Spending should go along with taxes. No excuse is needed to eliminate government-enforced charity – we should do so as a matter of principle.
I expect though, instead of trying to refute my point, you’ll just lie about what I actually wrote and try to argue with that, as you have before.
1980 the top 5 percent paid around 37-40% of all taxes.today the top 1% that the dems want to rob paid 37-40% and the top 5% pay 57-60% of all taxes.What percentage of someone elses money should we be entitled too.We need more producers not more money sent to the government.The top percentage people are citizens of the U.S also.I believe letting citizens keeping the money rather than government wasting it is better for the economy.How about an admin that encourages poor to be rich rather than rich being poor.What about meeting with the top earners and get them to invest in creating jobs rather than taking their money
she’s nothing but a crook…she and her hubby stole millions..SNOWE HAS TO GO
From the New York Times. Question: Did any of the Maine Delegation answer the poll?
“There’s always a concern that they can’t truly understand or relate to
the hardships that their constituents feel — that rich people just don’t
get it,” she said.
In an effort to gauge how directly the country’s economic problems
affected lawmakers, The New York Times contacted the offices of the 534
current members (one seat is vacant) for an informal survey. It asked if
they had close friends or family members who had lost jobs or homes
since the 2008 downturn.
Only 18 members responded.
Half the respondents said they had close friends or relatives who lost
homes, while the other half said their personal contact was limited to
constituents who came for help.
Two-thirds said they had close friends or relatives who had been laid
off or had shut down a business during the downturn. The rest knew no
one in that category personally.
Representative Anna G. Eshoo, a California Democrat who took part in the
survey, said several cousins in their 40s and 50s whom she considers
brothers and sisters lost their jobs recently. Without college degrees,
none have found work, and they have emphasized to her the importance of
unemployment benefits. “Personal stories are very powerful because it’s not a theory,” Ms.
Eshoo said. “It’s not talking points of a party. These are people
experiencing the harshness of what is an economic depression for them.”
Multimillionaires in Congress “view life through a different lens,” she said.
The occupy movement and the 99% thing are not going away. There will be change. Representative democracy will be restored in the USA as more and more people are figuring out the current system is corrupt and must be fixed.
The current system is corrupt and must be fixed. But, it won’t be fixed by the 99. They still haven’t figured out what they stand for, or who to blame.
Are you even suggesting that the folks in Washington are the only ones capable of fixing the problem ? Are you thinking that the 1 % will fix the problem ? Let me remind you that we are designed as a governmet of the people to prevent just that sort of thing. If you want to change Washington then you must do just that, change Washington ! Vote Buddy Roemer for president, google him, http://www.BuddyRoemer.com. And don’t fall for any more lies from the 2 major party candidates ! Fire them and the lobbiests the work for!
I’ve checked out Buddy Roemer. He’s got a lot of good ideas, but he doesn’t have a chance of winning anything. And a vote for BR is a vote for BHO. What good will that do?
What good will that do?
Anybody but Romney
Anyone but Obama, Romney, Perry, Gingrich, Bachman, or Santorum…nothing but more of the same
ANYBODY but a Republican. They have done more harm to America these past 10 years than 911.
I certainly hope there are not enough voters out there who will get fooled by Barak again ! Hope and change !
The other choice would be a Republican, you know the ones who started and mismanaged the wars, the ones who caused the financial meltdown, the ones obstructing and filibustering all efforts to fix it, the ones sponsored by and bribed by rich special interests, the ones still pushing for government jobkilling cuts. GOD HELP US IF THE REPUBLICANS GET TOTAL CONTROL!!!!!!!!!!!!!!!!!
They have you fool into believing that crap don’t they. http://www.buddyroemer.com.
Only a person living in a fantasy world and brainwashed by Fox and Limbaugh would say what you did because EVERYTHING I STATED ABOVE ABOUT THE REPUBLICANS IS A FACT, not the fantasy you obviously believe.
The fantasy my friend is believing the lies of either major political party. You deserve what you get !
If you replace the word ‘Republican’ with ‘Progressive’, then you’d be correct. By the way, there are Progressives in all parties. Even both the Bush presidents leaned to the progressive side.
This nation was built by Conservatives on Conservative principals. And Conservatives are the only hope we have of surviving.
Roemer is a socialist.
The fact that he is anti “the way it is” may be worth the risk if in fact he is a socialist.
so what. He’s smarter than most Republicans.
Yes they have…they are sick of crony politics and the rich having too much control over America. The only way to fix it is to vote easily bribed Republicans out of Congress.
“Easily bribed Republicans”???? Some, for sure, but the Democratic party is the party that’s easily bought and paid for. Just ask the President and all of his owners.
The 99%ers will go away when the 1% drys up and everyone is broke. Why just in maine do we have thousands of unfilled jobs?.Sitting on your hands and blaming producers for your problems only create more.Class envy is not going to fix the lack of working and producing Americans.How is sending more money forWashington to waste going to fix anything?.
LMAO. Really, the 1% broke? They collectively control more wealth than the bottom 40% of the country. If they go broke with all of the power and influence they inflict on us everyday, they are too stupid to have the money in the first place. Please, don’t insult us with such nonsense.
Class envy and desire for opportunity are not synonymous. Why do you want to distract the people from advancing their own self interest? Are you a sub-prime lender?
In 1980 the top 5% paid 37-40% of all taxes.Now the top !% pay that the top 5%pay 57% of all taxes.How much is a fair share to you 70-90 maybe?How about getting more producers rather than a few pay even more.
When they take in a vast majority of the income, it is only reasonable they should pay the bulk of the taxes. They demand a lot more from the commons than the rest of us do and they benefit more than we do.
Gotcha, it’s not democracy as long as there are a majority of people around who disagree with your extremist views.
i won’t be voting for them then!
We’ll be MUCH MORE WORSE OFF IF THE REPUBLICANS GET CONTROL OF BOTH HOUSES OF CONGRESS AND THE PRESIDENCY TOO.
Funny. AFTER WHAT THE DEMS DID WHEN THEY HAD THE WHITE HOUSE AND BOTH HOUSES OF CONGRESS…..THINGS CAN’T GET MUCH WORSE!!!
The whole point of this “the rich aren’t paying their fair share” meme is that there’s another box of money out there and if we can just pry it open, we’ll be able to go on spending as we have been. Well, suppose the box is there and suppose we do get it open… how long before we’re broke again? And this time with no more boxes to loot? Isn’t it obvious by now that there’s no amount of money our greedy political establishment can’t overspend?
Sheesh, people….
http://www.thegoldstandardnow.org/
Hmmm….why isn’t this wonderful movement
wanting to limit the size of govt and stop them
from stealing from us? Oh! Because they want
to be given things by the govt and want to take
it from soneone else. Boy, the libbers,socialists
and marxists really got the Obamaites convinced
that taking from another source is going to enhance
their lives and they won’t have to do anything to
receive these riches. Instead of going after the real
thieves, who are begging for their votes, they and the
libber media want you to think they represent the
masses. I do not think so! I would like to see every
wealthy person pack up and move to another country
along with big businesses and banks. Once the sheep
figure out they can’t steal from them anymore, who
do you think will be next?
Homer when the highest tax rates were being reduced from 92% to 70% to 50% to 39.6% to 35% were you telling all the rest to pack up and move to another country??? For 60 years, the bottom 99% have seen the redistribution of wealth EVERY TIME THE RICHEST GET ANOTHER TAX CUT. Were you crying about redistribution of wealth then??? I guess us sheep still haven’t figured it out yet because people like you cry for the rich but said nothing when it was done to the poor. Increasing taxes a few cents on the wealthy is NOTHING to them, so why do GOP cheerleaders cry about it every single day.
Tax,,,let you in on a little secret…I WAS ONE OF THE POOR!
And no, I didn’t whine and my family didn’t whine or get
welfare or ANY assistance. You know what? We got through
the tough times, didn’t sit back and ask the rich to pay for us.
We did what we could to get by and us kids didn’t get all the
“things” we wanted, far from it. We didn’t have the newest and
greatest and our parents didn’t beg for a thing. Guess what?
As life went on, I worked, I saved, I paid what I was supposed to pay
for taxes. Also, I took deductions allowed by law same as the rich do.
I didn’t look for anyone to pay for me or to pay from their money so
I could have free stuff. Now I own 2 homes, have a substantial amount
saved (thank you wall street) and did it all without a college education.
So please don’t tell me about the rich getting richer and the poor poor
not being able to do anything. What the rich pay for taxes has nothing
to do with the squandering of OUR money by our wonderful representatives
in Washington DC. You are being conned and are one of the sheep falling
for the class warfare garbage. I will help someone who needs help, not
who the govt deems needy because many are not truly needy, they leech.
And another thing, I could care less what the
“rich” got for tax cuts, I cared what I got. No matter what the rich
pay, it never is enough and people like you evidently expect someone
to pick up your tab. Oh! By the way…I AM A DEMOCRAT! A disgusted
one at that.
I am a disgusted former Republican who think it’s crazy to complain about a miserable 5 cent per dollar tax increase on ONLY dollars the super rich earn above $1 million. It’s nothing to them. Heck, it’s nothing to me when I pay a nickel ME sales tax per dollar. The class warfare argument is garbage and remember if it’s class warfare to increase their taxes, then it was class warfare when those taxes were steadily reduced from 92% to 35% the past 60 years. If you care about the deficit and care about fairness, then you stop the whining about a small tax increase for millionaires.
The problem Liberals think if you just raise taxes on the rich it won’t happen to the rest of the people. What did the Dems do here in Maine , they slammed everyone with large tax increases. The Dems have never found a Welfare Program they didn’t like. The Dems always attack business and working people. We are the bad guys to them. They want us to be ” taken care” of that we can’t take care of ourselves. That we need to depend on them for everything. Well sorry I don’t want Nobama, Pelosi, Reid, Pingree-Sussman, Mumbles Michaud in Washington, or Emily Cain, Cynthia Dill, Peggy Rotundo, John Martin, Justin Alfond here in Maine telling me what to do either. Let me spend my money the way I want and have my freedom. I don’t need Welfare and I don’t want to be taken care of.
Same old divide and conquer class warfare political policy of the left with a touch of the occupier nonsense – liberally described if I might add to insure the independents and right wingers find it palpable in hopes of reelecting our divider-in-chief. The public is tired of this gambit – one of the “real’ 99%.
So lets go back to the corrupt only care for the rich ways of the Republicans whose policies caused two mismanaged wars and caused our economic calamity and now they are standing in the way of jobs bills, and the new consumer protection agency from implementing policies, not to mention they want to water down the recent Wall Street reform law so that wall street can go back to reckless investments that could lead to another bailout and are pushing for JOBKILLING government cuts. The Republicans…no thanks to more lame governing.
Hate to tell you – I was a Democrat for 30 years until 2 1/2 years ago – the Dems wrecked the economy in the 60’s and 70’s doing what they are trying to do now with their entitlement agenda- check your math – aren’t enough “rich” to pay this administrations bills; the state of Maine is now paying the price for 40 years of the democrats crap – wake up and smell the roses – I mean after all, Nancy Pelosi spends 10 grand a night for a hotel suite – think the dems are any better? They obstruct and blame it on the Republicans while controlling 2/3 of the federal government – that’s why I’m an independent now, and probably why I’ll vote a straight republican ticket for the first time in my life,
Waiting for Washington to fix our economic problems is like waiting for the fox to bring order to the chicken house. We need to fix our own problems from the ground up. Buy American and put America back to work. It is really that simple. Our lust for cheap Chinese crap has tanked our economy, destroyed our wages, and only served to reward the cheap s.o.b.s that packed up their factories and moved to China. Aided and abetted in full by our “public servants” on both sides of the aisle. We are currently running a $550 billion trade deficit, $350 billion of that with China. How long do we think we can keep sending jobs and money out of this country before we are ruined?
The political class will steal from anyone they can in order to find the funds to use to keep buying votes from their constituents, this is not “news”.
Eventually there will be no one left in the nation with assets worth stealing. Then how will the politicos fund their “redistribution of wealth” schemes?
The tick’s bigger than the dog now, but the lefties will keep their snouts buried deep in the trough until they’ve licked it clean with no thought of the future.
Their culture of dependency’s sapped their spirits dry, and they’re too enervated to see it. They ruin everything they touch.
Just how many people do you wrongheaded Republicans think are actually receiving benefits they don’t deserve? How many lazy bums benefits equal just one of the corporate welfare beneficiaries benefits? You guys complain about the poor getting benefits but NEVER say anything about corporate welfare, yet corporate welfare abuse is a much greater cost to our country.
When are you fools going to drop your straw man argument that wanting to pry welfare abusers’ mouths from the public teat equals a defense of corporate welfare?
Your man in the White House can’t shovel taxpayers’ dollars at his big money donors fast enough so that they can recycle a huge chunk of it back at him. I hate it when he does it, and I hate when any politician does it. Just drop the pretense that only Republican politicians are guilty of the crime.
You make tear-soaked arguments for propping up the permanent welfare dependency class yea unto eternity because you care so very, very much. In fact what you really care about is preserving the rice bowl you’ve so relentlessly filled for yourselves either by being direct recipients of the fruits of others’ labors or as part of the gargantuan welfare bureaucracy.
You encourage and cheer the growth of the parasite class and won’t be happy until you’ve hollowed out and collapsed the magnificent structure that produced the wealth you feel entitled to loot.
You’re blinded by your greed, you’ve become a cancer on the body politic.
Greed that’s what the rich and their GOP cheerleaders are doing. The poor are just trying to SURVIVE while crazy GOP cheerleaders ignore the enormous amount of corporate welfare, tax breaks, loopholes, special capital gains treatment etc all due to greedy Republicans in Congress paying off on the bribes. Greed??? that’s what the miserly rich’s lives are controlled by. Instead of whining about 5 cents of taxes on only dollars made in excess of $1 million, try looking at the Bible for insight as to where your moral compass is pointing because JESUS surely would be more concerned about the poor and the elderly than he would the misers trying to extract more wealth from the masses.
And again, not a word of truth about anything, just hating on liberals. I like the comment “Your man at the White House can’t shovel taxpayers’ dollars at his big money donors fast enough…” You do understand that donors give money TO the candidate. Taxpayers money is not what presidential elections rely on either. Public elections funding is small and most refuse it, including Obama.
The parasite class is another fun point. You call the poor and disabled living on a few hundred a month parasites yet the bankers took over a hundred times the amount of money we spend on welfare in a year in bailout from their bad decision making but they are being unfairly demonized.
There are parasites out there but they do not ride the bus, neighbor.
Surely someone possessed of such a towering intellect as yours should understand that the money your hero directed to Solyndra was taxpayer money. And that the taxpayers were subordinated to your hero’s big campaign donors who invested in Solyndra.
And here’s another thing – neighbor. I have no problem with the disabled receiving assistance – the truly disabled. Not the slackers who lay claim to all manner of “disabilities” and their willing parasite enablers in the welfare bureaucracy who encourage them. Job security for the bureaucrats, don’t ya know.
And the buses are hardly parasite-free.
It would take 200 Solyndras to equal one of Halliburton government ripoffs under the Republicans rule.
How many slackers are getting benefits? how many? because you make the problem seem large but offer NO PROOF that it is a big problem. Conjecture without proof is the Republican way nowadays. Lies and deceit and no morals. Good luck with that.
Nice handle Milo.
Are you OK?
He did not direct it, we have agencies that do that. Solyndra was a typical high risk emerging technology loan. These are by their nature risky. Without loans like this, new technology does not take. The reason Solyndra went bust was Chinese anti-competitive practices. The Germans took a bath on a big investment like this too. Rather than blaming Obama, the real issue is Chinese trade abuses, not early stage investment. We would not have computers if not for early stage investment like Solyndra.
The world of funding innovation is complex but knowable. You should really get the facts on this and rely a bit less on the talking heads. They do not understand economic development any better you do.
Should we have the disabled send you their applications? As it is it takes months and sometimes years to get approved for SSDI. Do you need to be on the approvals list as well?
He directed it.
Solyndra had a bad business model and was in trouble before the loan guarantee.
Here’s another bad model: someone with your obvious limitations shouldn’t presume to be condescending. You’re embarrassing yourself.
The only problem with Solyndras business model was China. I am a business planning professional and I know a bit about early stage technology. I have worked with MTI here in Maine on early stage tech finance and it is typical that there is a high risk of failure. The only way to get new tech to market is to have this risk mitigated by state or federal funding.
You really should try to understand the issue before leaping to conclusions. I understand you hate the president, but this was not what the media played it as. This is the nature of technology commercialization.
obama 1 billion election chest.Where did that come from?I would guess alot from the very corporations you rant about.
That is true, many companies, mostly very large multinationals. They big companies give the most to the candidate they feel will win. Period. They aren’t playing favorites, they are hedging.
I am disappointed that I voted for a progressive and got a centrist republican president in Obama. You probably do not see that but Obama, once you strip away the BS from the record, is a very conservative president even compared to Nixon and Reagan.
That said, I want all of the money out of elections except public funds. Only then will democracy work for the people instead of being a conduit for corporate wishes.
As usual, not a word about policy or substance, just the usual anti-liberal slurs.
Are you still that impressed with yourself and your stale old rants?
Ha! Your rants are so old, they have beards. Grow up.
just read the great divider is going for another debt hike.up to almost 17 trillion
We can just print more money, no prob.
There’s a whole lot of vote buying to be done twixt now and November.
Republicans are outright crazy or are knowingly lying to say that if taxes go up 5 cents for the rich that the sky will fall. They have paid a lot more in the past fools and the sky didn’t fall. GEEZ they were paying that same rate 10 years ago and the economy was going great.
the hurting small businesses sentiment is a scam. Most small businesses that file as personal income are not making 1 million plus in profits. Even if they have one million plus in revenue, by the time the deduct all of their business expenses their profit is far less. If their profit really is one million +, then why should we worry about taxing them a little more? They aren’t reinvesting that money in their businesses (otherwise it would be a business expense and not profit) and a millionaire surcharge would have little impact on job creation.
Sure some people make more money than they deserve, but I would rather live in a country that provides the opportunities for people to get rich than a country that demonizes the rich and rewards the lazy and stupid.
Did you complain when the richest Americans were rewarded with tax cut after tax cut the past 60 years? 92% down to 70% to 50% to 39.6% to 35%. I’m sick of corporate welfare or is that OK with you since they seem to be working in their ivory towers?
Yes I complained all the while. America was at its healthiest when the highest tax bracket was 90%. Did that make millionaires sit at home and do nothing to avoid the taxes? Hell no! Once you have a certain amount, any additional is just to keep score. At the same time, college education was affordable then, it is not any longer.
A recent study of all of the worlds economies concluded that the optimal top tax rate for individuals that does the most for the economy while making it worthwhile to strive for that extra dollar is 84%.
As an MBA, I am trained to think in financial terms. I understand that even with this high rate on the income over a certain point (say over $1million), the incentives to earn the next dollar are not distorted much by the taxes. People making that kind of money are not trading hours or sweat for the additional buck. They are leveraging what they have to obtain even more. They can still do this will high marginal tax rates. If anything, it makes them work a bit harder and invest more in the long term. Teh low taxes encourage managing for the next quarter or two and not beyond. This is another way our system sells us short.
thank you for your response. do you think that when the highest tax bracket was at 92% that the rich said to themselves “if I am paying 92% to the government, why not just hire more workers, buy more equipment, expand my business instead?” do you think having such a high tax brackets actually encouraged the expansion of business as a result?
High tax rates absolutely encourage reinvesting in the business. Great insight. Given the choice between reinvesting or paying it to uncle sam, they all spend it on their own future. This drives the industrial construction market which is suffering with the offshoring as well.
What is the atmospheric composition on your plane. Mine is 78% nitrogen, 21% oxygen, and a smattering of other gases. As for your economic theory, maybe you should actually learn how a business is run.
Income mobility is nearly gone now, neighbor. We are not that country anymore. The big ideas people get squashed by the corporations that want to protect their station at the top (see patent abuse). They also get huge government giveaways. More is spent on corporate welfare than poor peoples welfare. Much more. Nobody is talking about demonizing the rich or rewarding the poor. What Occupy and many Americans want is a level playing field. No more corporate welfare. No tax breaks and shelters that are inaccessible to the wage earner. If you work hard you should not pay more tax than someone who invests for a living. Now you pay much more on wages than dividends or stock appreciation. This only makes it easier to stay at the top and harder to get there. That is not a definition of opportunity.
When big corporations get breaks, small companies are at a disadvantage. Most innovation and job creation happens at the small business level not the multinationals.
The amount of mobility (ability to get rich) is LOWER in America than in most of the world now. You have a better chance of getting rich in Canada, Germany, UK, Sweden, Finland, Ireland, Brazil and many many other countries. This was not the case 20 years ago but it is now. You are trying to protect a fantasy of what was but is no more. My grandfathers personal success story could not happen today. Most Americans are one illness away from financial ruin. That is not a healthy economy with upward mobility. What is on the rise is downward mobility. As the few at the top increase their share, there are few places at the top but more room at the bottom. The share at the top has risen to a point that is not sustainable. We are at pre-Depression levels of inequality. Either our leaders bring us deliverance from this fall from grace or the people will take it into their own hands.
You described the ideal of the land of opportunity. That is a reality in some places still, but the US is not that place. You might want to do some homework on income distribution so you can see you are living in a fantasy land and that can be dangerous to your economic well being.
Another person screaming the american dream is dead! Pure BS – its here, why do you think so many immigrants (legal and illegal) continue to pile into the country? Because they know if they work hard they will get ahead. I’m so tired of the prophets of doom and failure about this country take your MBA to Haiti and try to earn a living.
You must not be looking at the immigration statistics lately. The immigration from Mexico, for example, has fallen to almost break even (as many leaving as coming).
As far as the prophet of doom business, there are a number of very unhealthy developments in the worlds economies. This will come to a head in 2012, starting in Europe and then taking out at least one major US bank. This has the potential to bring about another severe downturn.
The hard work = success model in America is no longer supported by any statistics and scarcely by anecdote. This is not what I want to believe but it has become an inescapable reality. You will just have to sit back and watch as the fall from grace continues, grasping for rationale to support that America is the same healthy wonderful place where dreams happen. The dreams have become nightmares for many more than have found success.
You are holding fast to something that no longer exists here, thanks to unregulated and unmitigated greed and vast corruption.
Occudems steal money from producers to buy votes from non producers.
Repugs are paid to vote by the rich to make votes that hurt everyone else.
Time to recall Snowe and Collins
http://www.salem-news.com/articles/december252011/ndaa-recall.php
Dec-25-2011 17:57
Montanans Launch Recall of Senators Who Approved NDAA Military Detention. Merry Christmas, US Senate
Ralph Lopez Special to Salem-News.com
The issue of federal official recall has never reached the federal courts.
(HELENA) – Moving quickly on Christmas Day after the US Senate voted 86 – 14
to pass the National Defense Authorization Act of 2011 (NDAA) which
allows for the indefinite military detention of American citizens
without charge or trial, Montanans have announced the launch of recall
campaigns against Senators Max Baucus and Jonathan Tester, who voted for
the bill.
Montana is one of nine states
with provisions that say that the right of recall extends to recalling
members of its federal congressional delegation, pursuant to Montana
Code 2-16-603, on the grounds of physical or mental lack of fitness,
incompetence, violation of oath of office, official misconduct, or
conviction of certain felony offenses.
Section 2 of Montana Code 2-16-603 reads:
“(2) A public officer holding an elective office may be
recalled by the qualified electors entitled to vote for the elective
officer’s successor.”
The website Ballotpedia.org cites
eight other states which allow for the recall of elected federal
officials: Arizona, Colorado, Louisiana, Michigan, Nevada, North Dakota,
Oregon, and Wisconsin. New Jersey’s federal recall law was struck down
when a NJ state judge ruled that “the federal Constitution does not
allow states the power to recall U.S. senators,” despite the fact the
Constitution explicitly allows, by not disallowing (“prohibited” in the
Tenth Amendment,) the states the power to recall US senators and
congressmen:
Voters need to change their mindset that inclines toward re-electing incumbents, even if they are GOOD incumbents.
They’ve had their stint and either did or did not do their job.
Say “thank you” and then, at the next primary, nominate SOMEONE ELSE.
RE-ELECTION needs to become a VERY RARE OCCURENCE!
CHANGE YOUR VOTER MINDSET. RE-ELECT NOBODY!
Who would subject themselves and their family to the attacks the media conjure up.
Who?
100 US Senators and 435 US Congresspersons.
That’s who.
Roosevelt’s Bull Moose Party handed Wilson the 1912 election. Kinda like Nader ended up giving Bush Florida in 2000 and therefore the election.
We would have gotten endless war and the Federal Reserve either way…people just don’t pay attention to the root of the problem
Root of the problem: Republicans. They have done more harm to America these past 10 years than 911. Americans are just pawns in their political game so they obstruct the President’s job bills and budgets making a RECORD NUMBER OF FILIBUSTERS, ramroding voter disenfranchise bills in the states they are in control of. GOD HELP US IF THEY REPUBLICANS EVER GET CONTROL OF CONGRESS AND THE WHITE HOUSE!
kind of like dems keeeping the poor wanting more for votes.How about the trillions we have thrown to solve the poverty problem and it just gets bigger.Mostly because of dems promise and never deliver programs.Like green energy jobs that the money gets sucked up and filtered back to the DNC before any jobs come out of it.Why are the dems so against the pipeline.Because jobs hinder entitlement spending.To bad it never gets to the ones that need it the most.How about the union bailout filtered through GM that still went bankrupt.Your blog name is nothing more than a play on words and anyone other than the liberal mind knows the rich at 39-40% shoulder more of the taxes now then they did in the 80″s so stop with the melodrama that dems care.They care all the way to the bank.History proves it.If dems really cared they would get off the enviro-whacko soap box and let environment and business work together.
Dear Exxon Mobil:
this is the best reason to get off the fossil fuel nipple
http://www.heatisonline
2nd reason
http://www.treehugger.com/fossil-fuels/two-biggest-myths-about-keystone-xl-tar-sands-pipeline-debunked.html
The Two Biggest Myths About the Keystone XL Tar Sands Pipeline, Debunked
The problem wasn’t a “crisis” until after the Republicans tanked the economy. Bring the jobs back from overseas and the crisis is over. As for the environment and business working together, that’s just GOP speak for let’s end regulations so the rich can rape the earth and make more money. Since the rich have 60% of the wealth, they should pay 60% of the tax burden because I’m sick and tired of paying for the rich.
FBI agents gave Bush the election
http://www.thelandesreport.com/Donsanto.htm
msfresh, yeah right, FBI agents knew in advance Florida would be so close so they arranged to have 97,488 people vote for Nader.
nope, what FBI agents did was re write the Operating System software for the computers in the machines tabulating voting results
Just like they did for Leonard Gates in Cincinnati
Except the issue in Florida that year involved “punch card balloting machines” not computer read voting. Read Supreme court decision in Bush v. Gore:
http://www.law.cornell.edu/supct/html/00-949.ZPC.html
Thanks Mr Jogger for your response. Yes I remember the Bush “voting chad” issue after the polls closed.
see http://www.thelandesreport.com/VotingSecurity.htm
This is not what I am talking about. In the magic business the chad episode would be called misdirection,
Please read what I say .” In 1994 we brought Leonard Gates to speak at Bates College to discuss the voter fraud he was committing for the FBI in Cincinnati. He explained how he did it and told the audience the FBI was committing voter fraud in every state”
Do you understand what I just said?
The press has covered his story here
http://www.networkamerica.org/wiretap.htm
and here
http://www.thelandesreport.com/Donsanto.htm
Ahh, the Bangor Daily News, the paper for the looters and moochers.
This is only the beginning of the changes that are coming. Occupy captured a few important messages that define our times. The messages are hardly unique to America at this point. The entire western world is under attack by the multi-national corporate heads and the bankers at the gargantuan banks. Europe has already seen two and possibly three countries lose democracy to be ruled by bankers for bankers. The Euro zone is being destroyed by the greed of these big players. They are forcing millions into poverty and cutting every government protection that exists. Even basic public safety is not immune from the austerity requirements of these avaricious monsters. On this side of the pond, the same story. “Debt Crisis” is code for disaster capitalism. This media creation is intended to convince people that they have no options for change or reform except to submit to even more powerful banks and corporations and to expect less from government. Once sufficiently weakened, governments are reformed into non-democratic states. This is happening here as well. The voting law changes, weakening financial regulation, cutting taxes on the wealthy and cutting social safety nets are all tools of what I am describing.
Occupy was able to overcome the corporate media stronghold on information about our economy and governance in ways no media source has been able to. This fact by itself should inform you of the medias contribution to our circumstances.
When people lose power and fewer people are driving policy, the already powerful have the advantage. Occupy brought that to the fore. We now talk about inequality even though it has been increasing for forty years. Watch as this one movement is the genesis of hundreds of movements and those the seeds of hundreds more. The people will not tolerate tyranny of any kind for any length of time. We are nearing the breaking point. We all had better hope the grass roots movements are successful or the only remedy left will be revolution. Pay attention to the use of force to deny the right to assemble. This is the first sign of fascism. Using the military to control domestic unrest is another. That is now possible under law. The constitution is for us to maintain fairness, to assert our voices, to control our destiny. As these freedoms are rolled back, the possibility of getting through this difficult time without bloodshed grows smaller. Act now to protect your freedoms. Nobody ever elected fascists, they take the peoples liberties one by one until they are able to control everything. We are not only susceptible to this, we are headed straight for it. Hold fast and do not become dissuaded by the fear tactics. The constitution is strong enough to keep us free so long as we protect it. That is our job, not the politicians.
WELL SAID !!!
TERM LIMITS ,TERM LIMITS, TERM LIMITS!!!!!!!
When you demand someone else’s money, it soon echoes back with a demand for yours too.
therein lies the difference between the Democrats, who believe in paying their share and helping others and the Republicans who are only and always interested in keeping whatever it is that they have and want more, more, more…
So then why have most of Obama’s appointees been tax-cheats? Bertta, come on, step away from the kool-aid…
oh, I think that we can find culprits on both sides of the aisle….
I speak to ideologies, seems like you simply want to argue
Nothing more pitiful than self-righteous liberals calling for others to pay for their extravagant and unsustainable social programs.
or greedy republican fat cats whose unwise tax cuts and benefits have bankrupted the country..
GIVE US BACK OUR MONEY!
Maybe the politicians should listen to economists who know what they are talking about, from Paul Krugman’s blog
Right now, there are people declaring that our best days are behind us, that the economy has suffered a general loss of dynamism, that it’s unrealistic to expect a quick return to anything like full employment. There were people saying the same thing in the 1930s! Then came the approach of World War II, which finally induced an adequate-sized fiscal stimulus — and suddenly there were enough jobs, and all those unneeded and useless workers turned out to be quite productive, thank you.There is nothing — nothing — in what we see suggesting that this current depression is more than a problem of inadequate demand. This could be turned around in months with the right policies. Our problem isn’t, ultimately, economic; it’s political, brought on by an elite that would rather cling to its prejudices than turn the nation around.
“Politicians from both major parties always have spoken of their high regard for the poor and middle class” and that’s where it ends. How can you expect the millionaires club in D.C. to understand what is going on in real America?
Politicians will “listen” at election time but afterwards life goes on the same. It is not the function of government to “create” jobs, they mostly funnel money to back-kicking cronies.