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-   -   Republicans and rich people (http://www.insidehoops.com/forum/showthread.php?t=283380)

Jasper 12-05-2012 02:39 AM

Republicans and rich people
 
Why do the republicans not want to tax the wealthy as the democrats want too ????

State your reasons ....

DonDadda59 12-05-2012 02:43 AM

Re: Republicans and rich people
 


"Political Reasons"

Scoooter 12-05-2012 02:43 AM

Re: Republicans and rich people
 
The rich people are the ones paying the Republicans.

LamarOdom 12-05-2012 02:46 AM

Re: Republicans and rich people
 
I'm actually in between on this one, but I can understand how some people feel on top of them paying more in taxes (since they make more) they also have to pay higher percentages.

That's not fair.

BEAST Griffin 12-05-2012 02:58 AM

Re: Republicans and rich people
 
Democrats don't want to tax the wealthy. That's a myth.

Sarcastic 12-05-2012 03:25 AM

Re: Republicans and rich people
 
Greed.

KevinNYC 12-05-2012 04:19 AM

Re: Republicans and rich people
 
Quote:

Originally Posted by LamarOdom
I'm actually in between on this one, but I can understand how some people feel on top of them paying more in taxes (since they make more) they also have to pay higher percentages.

That's not fair.


Marginal tax rates mean we all pay the same rates for the lower amounts of income. If I earn 125,000 dollars and you earn 1 million dollars, the tax we pay on that first 125,000 is the same.

This is why moving into a new tax bracket is usually not an issue. Lots of folks including some rich folks don't know this.

falc39 12-05-2012 04:33 AM

Re: Republicans and rich people
 
There can be many reasons from practical to philosophical.

For instance, some of us don't like the idea of dividing people up into groups according to class, race, religion, or gender. The law should be applied equally to all individuals, not to groups and favoring one over the other. Of course in politics today all you see is division. But American government was designed to protect the individual, not groups or majority, which is why it isn't a democracy. Think of it similar to... "I don't agree with what you are saying, but I will fight for your right to say it."

Others don't like the idea of punishing people who took the risks and hard work to become rich. Sure, being rich makes current life easier, but life wasn't easy when they were working towards their goals and sacrificed where they were to get where they are now, while everyone else and their peers were squandering their opportunities and instead went for short-term gratification. Maybe it was their parents that they inherited wealth from, but at some point down the line, there had to be a point where someone sacrificed a lot to become successful/rich so that there could be an inheritance. You'll find out in life that success is based very rarely on luck, but instead very deliberate, calculated, and has more to do with persistence. Have you heard of the saying "You create your own luck"? You just don't see the process so many people just judge on results. Remember that anything done to punish success right now makes it harder to achieve success for the next generation.

BEAST Griffin 12-05-2012 04:57 AM

Re: Republicans and rich people
 
Quote:

Originally Posted by falc39
There can be many reasons from practical to philosophical.

For instance, some of us don't like the idea of dividing people up into groups according to class, race, religion, or gender. The law should be applied equally to all individuals, not to groups and favoring one over the other. Of course in politics today all you see is division. But American government was designed to protect the individual, not groups or majority, which is why it isn't a democracy. Think of it similar to... "I don't agree with what you are saying, but I will fight for your right to say it."

Others don't like the idea of punishing people who took the risks and hard work to become rich. Sure, being rich makes current life easier, but life wasn't easy when they were working towards their goals and sacrificed where they were to get where they are now, while everyone else and their peers were squandering their opportunities and instead went for short-term gratification. Maybe it was their parents that they inherited wealth from, but at some point down the line, there had to be a point where someone sacrificed a lot to become successful/rich so that there could be an inheritance. You'll find out in life that success is based very rarely on luck, but instead very deliberate, calculated, and has more to do with persistence. Have you heard of the saying "You create your own luck"? You just don't see the process so many people just judge on results. Remember that anything done to punish success right now makes it harder to achieve success for the next generation.


Thieves also take risks and do hard work. Taking risks and working hard doesn't mean you deserve what you get.

Most rich people are rent seekers who get far more than they deserve through government enforced privileges.

http://en.wikipedia.org/wiki/Rent-seeking

The biggest rent seeking cancer on the economy is obviously the land owning entitlement.

plowking 12-05-2012 05:07 AM

Re: Republicans and rich people
 
Quote:

Originally Posted by BEAST Griffin
Democrats don't want to tax the wealthy. That's a myth.


Yet they do... and state they want to...

BEAST Griffin 12-05-2012 05:17 AM

Re: Republicans and rich people
 
Quote:

Originally Posted by plowking
Yet they do... and state they want to...


Taxing income is not taxing the wealthy.

plowking 12-05-2012 05:27 AM

Re: Republicans and rich people
 
Quote:

Originally Posted by BEAST Griffin
Taxing income is not taxing the wealthy.


:oldlol:
Those you proclaim as wealthy are so through income.

Fact is, those on a higher income are taxed more, and for what reason? Why doesn't everyone pay their % cut? Why should more income incur more tax? In gross terms, the higher income earners already are paying more, so why the need for a higher percentage as well?

falc39 12-05-2012 05:42 AM

Re: Republicans and rich people
 
Quote:

Originally Posted by BEAST Griffin
Thieves also take risks and do hard work. Taking risks and working hard doesn't mean you deserve what you get.

Most rich people are rent seekers who get far more than they deserve through government enforced privileges.

http://en.wikipedia.org/wiki/Rent-seeking

The biggest rent seeking cancer on the economy is obviously the land owning entitlement.


That's why there are laws that protect individuals from theft and fraud. I largely meant risks in a business sense where you invest in something in hopes of making a profit or growing a business. Or honing skills to become a world-class athlete etc. I don't think anyone here is promoting a lawless society.

Since I lean libertarian, I am actually against a lot of government enforced privileges, and there are a lot out there...

BEAST Griffin 12-05-2012 05:56 AM

Re: Republicans and rich people
 
Quote:

Originally Posted by plowking
:oldlol:
Those you proclaim as wealthy are so through income.

Fact is, those on a higher income are taxed more, and for what reason? Why doesn't everyone pay their % cut? Why should more income incur more tax? In gross terms, the higher income earners already are paying more, so why the need for a higher percentage as well?


You're wrong. Income does not dictate wealth. In fact, the wealthy benefit from income taxes.

Wealthy people that own land assets for example benefit from sales taxes, income taxes, etc. that productive working people pay because they get to pocket the land value these taxes create.

http://en.wikipedia.org/wiki/Henry_George_Theorem

BEAST Griffin 12-05-2012 06:13 AM

Re: Republicans and rich people
 
Quote:

Originally Posted by falc39
That's why there are laws that protect individuals from theft and fraud. I largely meant risks in a business sense where you invest in something in hopes of making a profit or growing a business. Or honing skills to become a world-class athlete etc. I don't think anyone here is promoting a lawless society.

Since I lean libertarian, I am actually against a lot of government enforced privileges, and there are a lot out there...


And then there are laws that enable theft like land owning and other government enforced privileges which let the owner of such privilege steal the products of other people's work.

Rent seeking is enabled by the government. And that's what most rich people do: seek to get a bigger piece of the pie that already exists without productive contribution rather than helping to make the pie bigger.


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