Thursday, August 16, 2012

He takes the posting bounty in pieces of silver

Mittens doubled down on the lies today by asserting that he paid at least 13% income tax over the past ten years. Off course you or I would pay over 30% if we made more than a middle class income. He makes a hundred times that or more, we don't know.

Willard must have decided he needed to do something to distract from the flat polling numbers after choosing  "Austerity" Paul as his running mate. Choosing a VP always creates a bump in polling, always. This indicates that Romney is actually falling in his own right, 60% of people don't even know Ryan. So Mittens is attacking a Senator instead of running on his record as a capitalist.

He has to be hiding something that involves a felony of some sort, directly or indirectly. His brain dead base doesn't care that he evades taxes so that they pay more, they can't figure that out. After all, they'll all be billionaires someday.

To answer the trolls that keep demanding to know why we need to tax the rich. It isn't just a mater of fairness. The reason that the government of any nation (even back to the stone age when they used shells and beads) issues money is to allow business activity to happen efficiently and in a timely manner. If you allow the wealthy class to hoard money, your economy slows and stalls. The wealthy tend to do the exact opposite of what is needed when stimulus is required, they save money assuming things will get worse. They are always right when they do that. Even ancient kings understood this and taxed in good times and spent in slow times. That is, the ones that were successful.

US corporations are sitting on $5 trillion in cash with $3 trillion outside the US to evade taxes. If they brought it back onshore, the corporate tax alone would be enough money to balance the budget for a year. The right wing response, "well then what, genius. You're out of money." No dim bulb, the money circulates, stimulating the economy and produces more revenue. You know, build some roads and viaducts like the wise kings did.  Then there is the $20-$40 trillion the rich have stashed in tax havens around the world. Are you getting the idea? They are destroying the economy. That's why a troll like you has to post talking points to blogs at 50 cents a pop, instead of having a job that pays $56/hour like factory workers in Germany get.


Anonymous said...

FYI for anyone interested, Ravi Batra's "Greenspan's Fraud" does an excellent job of explaining how dropping the marginal taxes in the 1980's creatred this economic dilemma (i.e. replacing tax revenue with debt and the subsequent hoarding of cash by the rich via purchasing the same debt that was previously collected through taxation). Maybe that is reason why Batra's media exposure is limited to the "The Thom Hartmann Show." The corporate media would never allow such information to be presented to the masses. Then again, would they even be able to comprehend it?

Dave said...

The way I've always heard the question put is "Why should we penalize success?" If working people are only paying at, for example, a 15 percent tax rate, why should billionaires pay at a higher rate.

A few points about that. . .

If Mitt Romney's taxes are any indication, billionaires are paying taxes at a lower rate than working people. Actually that's been known for some time. How is that fair?

Also, the whole idea behind a graduated income tax is that if you make more money, the taxes you pay will be missed less. Let's say you made 100 dollars in a week and had to pay 15 dollars in taxes. You'd be hit a lot harder that someone who made 10,000 dollars in a week who had to pay 1500 dollars.

To make thing even more fair, a billionaire and a fast-food worker pay the same income tax rate on the first about 34000 dollars they make. Social Security taxes are a different question for a different time.

Right about now, your eyes are glazing over. Please pay attention. Your and your family's well-being are the issue at hand.

It also turns out that allowing the very wealthy to hoard all the money is bad public policy. We're not obliged to remain poor because someone else wants to keep all their wealth.

We need to tax enough to take care of our commons, the stuff we all own and need, and in a way that stimulates using money instead of hoarding it.

Anonymous said...

Where did you find this Ravi Batra information. His website never seems to be updated and I am sure he has much to say. Would you attach a link, please?

prairie2 said...

Google Ravi Batra. He's not about covering current events. He writes excellent books on economics.