When is a tax hike not a tax hike?

[mjs]

Immelts theories will either work, or he and his corporate buddies will be exposed big time.

Problem is that being exposed big time has no consequences. Government Sachs was exposed big time and they were paid out 100% on the insurance they intentionally collapsed. Countrywide's massive massive fraud was starting to be exposed so Geithner and Bernacke rewarded them by forcing B of A to buy them so the executives could walk away with tens of millions. All of Enron's scams were fully explained to the financing banks and they joined in on the theft. Never any consequences there either.

Its part of why the markets are in such bad shape. Retail investors barely got touched on this recent collapse because they were already heavily in cash and bonds and even at these low levels, they aren't re-entering the market. Its baffling the professional investment advisors. Its because most people outside of wall street believe that the stock market has become one federally supported scam after another. If the government wants to improve consumer sentiment, they need to stop manipulating the market, get the hell out of the way of state regulation, claw back some of the scammed money, and maybe even put some of their asshole buddies in prison rather than summer homes.

[bartock]

Warren Buffett pays a lower effective tax rate than I--and probably you--do. Who's being penalized?

Exactly. I'd bet that if you raise taxes on the super-wealthy to 50%, their effective tax rate wouldn't change much.

Don't bother raising taxes on the super rich. The highest income bracket is supposed to pay 35%. Get their effective tax rates closer to what they should be.

[coracle]

Exactly. I'd bet that if you raise taxes on the super-wealthy to 50%, their effective tax rate wouldn't change much.

Don't bother raising taxes on the super rich. The highest income bracket is supposed to pay 35%. Get their effective tax rates closer to what they should be.

Yeah; let's stick it to the rich by increasing their taxes because they have all our money, and hope they won't increase the prices of their goods and services to us so that we pay the tax increase that we imposed on them to stick it to them. The bottom line is who sticks it to who?

[Detroitej72]

The bottom line is who sticks it to who?

It's clear you have drunk the kool-aid and feel the rich should not have any tax obligations. Tell me, do you believe this because you are in that group, or because the right wing talking heads tell you to?

[coracle]

It's clear you have drunk the kool-aid and feel the rich should not have any tax obligations. Tell me, do you believe this because you are in that group, or because the right wing talking heads tell you to?

No; neither; I'm just using logic and common sense. What's your excuse? I wasn't saying the rich should not have tax obligations if you can read. I was implying they pass them on to us in their pricing.

[firstandten]

Yeah; let's stick it to the rich by increasing their taxes because they have all our money, and hope they won't increase the prices of their goods and services to us so that we pay the tax increase that we imposed on them to stick it to them. The bottom line is who sticks it to who?

You need to make a distinction between corporate taxes and individual taxes. A corporation is going to raise its prices on ANYTHING that affects its products. Taxes might be very low but guess what happens if you make cars and the price of steel rises.

Wealthly individuals include trust fund babies, investors, business owners and people who Warren Buffet says their money makes money These people don't pay their fair share.

http://www.nytimes.com/2011/08/15/op...uper-rich.html

[coracle]

You need to make a distinction between corporate taxes and individual taxes. A corporation is going to raise its prices on ANYTHING that affects its products. Taxes might be very low but guess what happens if you make cars and the price of steel rises.

Wealthly individuals include trust fund babies, investors, business owners and people who Warren Buffet says their money makes money These people don't pay their fair share.

http://www.nytimes.com/2011/08/15/op...uper-rich.html

Agreed generally. Taxation is very complex and wherever one sits in the hierarchy of tax payers it's never really feels "fair". I don't like paying taxes on earnings when others don't pay taxes on their's because of lifestyle choices. I don't like paying taxes on investment gains when I don't get any of the tax payments back when I lose. I don't think it's "fair".

[rb336]

. I don't like paying taxes on investment gains when I don't get any of the tax payments back when I lose. I don't think it's "fair".

Odd. i've been able to take write-offs on money lost in investments. Granted, I haven't lost money on investments in several years. why can't you? did they change that part of the tax code?