Poll: At what level should the 1%'s net wealth be capped?

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How much money should the wealthiest 1% be allowed to keep?

$50,000
4
13%
$100,000
0
No votes
$250,000
0
No votes
$500,000
0
No votes
$1,000,000
0
No votes
$10,000,000
0
No votes
$100,000,000
1
3%
$500,000,000
0
No votes
$1,000,000,000
0
No votes
$10,000,000,000
0
No votes
No limit, let them keep whatever they have
26
84%
 
Total votes : 31

Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: gaw On: Tue Aug 20, 2013 11:32 pm

I voted for $50,000 but really it should be $0. Why you ask :?: :idea:
And again I say to you, It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God.
MATTHEW 19:24

We all leave with none. :)
gaw
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: jpete On: Wed Aug 21, 2013 6:30 am

What if you don't believe in an afterlife?

What would life be like if no one had the opportunity and drive to build things which would earn them large piles of cash?
jpete
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: samhill On: Wed Aug 21, 2013 7:58 am

Jpete, now all of a sudden your talking about having the opportunity & drive to build things to earn cash, wouldn't they have to spend to do that ? Interest rates have been at an all time low for a long time now & many businesses are sitting on piles of cash so according to most here they should be modernizing & expanding. If you would prefer to call it investing that's fine so to simplify for some is not investing the same as spending?
samhill
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: Flyer5 On: Wed Aug 21, 2013 8:11 am

I still like flat tax no deductions. No cap on income level taxed. Retirements should not be taxed till used and spent by form of sales tax.
Flyer5
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: lsayre On: Wed Aug 21, 2013 3:11 pm

Flyer5 wrote:I still like flat tax no deductions. No cap on income level taxed. Retirements should not be taxed till used and spent by form of sales tax.


It would frost the 99% royally to learn that something like 99% of the wealth of the 1% is not income, so it would not be taxed as income regardless of a flat tax, progressive tax, or whatever else could be dreamed of as an income tax.

Edit to correct spelling.
Last edited by lsayre on Wed Aug 21, 2013 5:43 pm, edited 1 time in total.
lsayre
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: samhill On: Wed Aug 21, 2013 3:48 pm

It would frost the 1% & yourself if all the accounting tricks & loopholes were suddenly no longer there, as I have often said income is income regardless of how you play the game if everyone has the same rules to play by but naturally in our country the rich make the rules & for some strange (to me anyhow) some followers seem to be more than happy to make up the difference for the upper slugs yet itch about the bottom feeders. In my book they are one in the same on different ends of the spectrum & we as tax paying & paying & paying voters keep complaining about paying our share + theirs but keep voting the same pukes in over & over. :mad: :shock: http://www.accounting-degree.org/accounting-tricks/
samhill
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: jpete On: Wed Aug 21, 2013 7:24 pm

samhill wrote:Jpete, now all of a sudden your talking about having the opportunity & drive to build things to earn cash, wouldn't they have to spend to do that ? Interest rates have been at an all time low for a long time now & many businesses are sitting on piles of cash so according to most here they should be modernizing & expanding. If you would prefer to call it investing that's fine so to simplify for some is not investing the same as spending?


I suppose it's "spending" if you are saying that they "buy" stocks and bonds. But that falls under the category of saving to me.

Call it "investing" if you want. But whenever you park your money someplace in order to earn interest, that's saving.

If you buy a boat and a Ferrari, that's spending.

I don't know where you got the idea that anyone said businesses "should" be doing anything.

When I can borrow money at POINT 25% and then park it somewhere and make 3% or 4%, that's what I'll do all day long. No sense spending money on new machines or other improvements if you are only going to take it in the shorts come tax time.
jpete
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: jpete On: Wed Aug 21, 2013 7:25 pm

samhill wrote:It would frost the 1% & yourself if all the accounting tricks & loopholes were suddenly no longer there, as I have often said income is income regardless of how you play the game if everyone has the same rules to play by but naturally in our country the rich make the rules & for some strange (to me anyhow) some followers seem to be more than happy to make up the difference for the upper slugs yet itch about the bottom feeders. In my book they are one in the same on different ends of the spectrum & we as tax paying & paying & paying voters keep complaining about paying our share + theirs but keep voting the same pukes in over & over. :mad: :shock: http://www.accounting-degree.org/accounting-tricks/


I don't think income and property tax is morally correct. Why does the government have a higher claim to my labor than I do?
jpete
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: lsayre On: Wed Aug 21, 2013 8:52 pm

I just saw where an income of $343,000 per year qualifies you as a member of the elite 1%. $112,000 per year and you have made the top 10%.

The top 10% pay 70.6% of all annual federal income taxes collected. The bottom 47% pay (on average) nothing.
lsayre
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: samhill On: Wed Aug 21, 2013 9:11 pm

I think your #s are a little out of wack but not much but why not tell the whole story, don't forget about what the ever shrinking middle class pay & that there is a progressive rate with higher earners paying a higher % but they also naturally have the vast majority of the money so it has to be that they pay more. Lets also not forget that some (by this article)of the very richest paid zero, if I were in the top 10% that were paying for those that were even better off than me I would be a bit POed. http://money.cnn.com/2013/03/12/news/ec ... index.html
samhill
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: lsayre On: Wed Aug 21, 2013 9:16 pm

I'm pretty sure the figures I posted above are for 2011.

In 2007 it took $427,000 to qualify for the elite 1%. Seems the 1% have fallen onto hard times.

I found a different source that said the top 10% paid 70.47% of all income tax last year. It changes a tad by the year, but you are right. My initial figures are not off by much, and they were right on for a given year.
lsayre
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: lsayre On: Wed Aug 21, 2013 9:39 pm

Talk about accounting tricks. In 35 States welfare pays the equivalent of $8 per hour or more. And in 13 states it pays $15 or more per hour. In Hawaii welfare recipients are bringing in better than $60,000. What is the minimum wage these days?

OK, I just read in a separate source where in Hawaii it is actually $49,000 for welfare, but seeing that it's tax free, it is the equivalent of making $60,000.
lsayre
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: samhill On: Thu Aug 22, 2013 8:20 am

Why aren't the & haven't the voters ever been up in arms about welfare in their states? I know I have brought up the subject with several of my state reps. but never seem to get any further than a brush off in person or a form letter that is much the same from either party, leading me to believe that all politicians are a bunch of cowards when it comes to certain subjects. :mad:
samhill
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: I'm On Fire On: Thu Aug 22, 2013 8:48 am

I voted $50k. *censored* them and their golden parachutes and dancing on the backs of the people. Let them see how the other side struggles to survive. They wouldn't last a day worrying about what bill they are going to pay this pay period because they can't afford food. *censored* the rich.
I'm On Fire
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: Flyer5 On: Thu Aug 22, 2013 9:08 am

I'm On Fire wrote:I voted $50k. *censored* them and their golden parachutes and dancing on the backs of the people. Let them see how the other side struggles to survive. They wouldn't last a day worrying about what bill they are going to pay this pay period because they can't afford food. *censored* the rich.



Ya can't blame the rich. Its the 2nd & 3rd generation welfare and FSA that keep putting these people in power that make the rules. After all they are voting for Santa Clause and Christmas year round.
The rich are just following the rules.

P.S. and if someone wants to send me a few million dollars I will prove it. :D
Flyer5
 
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