BoatBanter.com - View Single Post

[email protected]

On Sun, 20 Feb 2011 23:42:03 -0500, wrote:

On Sun, 20 Feb 2011 18:41:50 -0800, wrote:

On Sun, 20 Feb 2011 20:57:11 -0500, wrote:

On Sun, 20 Feb 2011 10:41:26 -0800, wrote:

It might help a little but the rich don't really have that much money.
I already showed you the total net worth of the Forbes 400 would only
handle our current deficit for about 18 months. Bear in mind that is
their unrealized profit on securities that the can't really write a
check for.
Get a calculator, go to Forbes and add it up yourself if you are
bored.

Go get a calculator and figure out how much of an increase of 4% for
those making over $250K will have on deficit reduction.

What do you think the median income of that group is?
$500,000? $1M?
Lets take the best case scenario and say $1M
They would pay an extra $40,000 times 1.9 million households ... $80
billion, not a small number but still chump change compared to the
$1.1 trillion deficit.

Go "figure" your math some more. You're not even close.

Facts please?
You can't just say no it isn't without some facts. Which part is
wrong?

I've done that several times. Most recently that the top 400 have more
than the bottom 50%. Yet, the Republicans want to tax the bottom half
and GOD FORBID touch any money from the top.

I have said many times we should tax these people more but I also
understand it won't fix the problem.

They need to pay more. It'll go a long way toward making things more
equitable, and while it won't fix the entire problem, it'll go a long
way toward doing that.

Make up your mind, are you talking about "income" or "net worth"?
You show me the data on what the income is for those people if you
don't like my number. You have not "done that" once. You have linked
some opinions but you have not showed me any numbers. In fact I am
having trouble finding the number myself. I do know there are 1.6
million households (before the crash) that are making over 250,000 and
the NYT says 145,000 made more than 1.6 million (in 2004) so that
means we are still not talking about that many rich people. Certainly
not enough to make a dent in a 1.1 trillion dollar deficit with a 4%
tax hike. When you look at the 250k-1.6m people, most are on the 250k
end if the rest of income distribution models hold. I generously said
the median was 500k.

Anyone individual making more than $250K should be taxed a bit more on
the amount over the line... by a few percent as per what was proposed.
The Republicans fought tooth and nail to prevent that. The Democrats
even proposed pushing that up to $1M, but no go from the Republicans.
Why?