Wealthy People Have It So Bad In America

[coadie]

Originally Posted by Jermyn Davidson

I don't subscribe to socialism so I don't care what it teaches.

To take a line from, "Saving Private Ryan":

"Everyone's been shot! Get in and drive!"


Your friend is losing 30k monthly?

Maybe your firned needs to lower his rates and search for higher quality, higher profit generating businesses for his strip mall. He could even write it in to their contracts: 3 year contract with the first 15 months at a reduced rate, etc.

When it comes to money, I stand by my affirmation: the wealthy do not need help from the government in the form of tax breaks.


Coadie, weren't you against the stimulus package and bail outs for businesses?

Based on your posts, it appears you were over paid.

I will tell you something very simple.

Our government, you included thinks it is smarter about how money shoudl be spent than a few people that have money. If the government on it's spending binge needs more money, they can borrow it from the wealthy.

[Jermyn Davidson]

Originally Posted by coadie

I tossed that out there. You are clueless. Businesses have to make money. Why fill the stores and take in less rent than the debt service number is?

You need to get it out of your head. The peoples money belongs to them. Not the Dictators and socialists.

Stop with the name calling already. What? Aren't you able to have a discussion without attempting to boost your own esteem up by tearing others down?


No one said for your friend to take in less rent than what is needed to make ends meet.

I did say that he could lower his rates for a little while to attract the right businesses to his strip mall.


I am thinking about what you said. As for lowering his rates to below what it takes for him to make ends meet, if things get bad enough, maybe he'll have to do that so that he's not losing 30k monthly, but maybe only 5k-- and that temporarily.


I mean, the best thing your friend could do is attract the highest quality and highest income generating businesses to his mall.

Desperate times call for desperate measures.


So your friend is going through right now.
He's probably not on the verge of losing his business entirely-- but if he was, he's still a several steps away from losing his home.


I stand by my affirmation: the wealthy do not need assistance from the government in the form of tax cuts.

[coadie]

Originally Posted by Jermyn Davidson

Stop with the name calling already. What? Aren't you able to have a discussion without attempting to boost your own esteem up by tearing others down?


No one said for your friend to take in less rent than what is needed to make ends meet.

I did say that he could lower his rates for a little while to attract the right businesses to his strip mall.


I am thinking about what you said. As for lowering his rates to below what it takes for him to make ends meet, if things get bad enough, maybe he'll have to do that so that he's not losing 30k monthly, but maybe only 5k-- and that temporarily.


I mean, the best thing your friend could do is attract the highest quality and highest income generating businesses to his mall.

Desperate times call for desperate measures.


So your friend is going through right now.
He's probably not on the verge of losing his business entirely-- but if he was, he's still a several steps away from losing his home.


I stand by my affirmation: the wealthy do not need assistance from the government in the form of tax cuts.

You don't get it. Small businesses that go broke do not pay rent. It stops.
It stops. If you have 30 rentals and half are empty, you don't have money to remodel for the next tennant in addition to discounting ren.
Go work for the government. They don't have to make products or mone and also make payroll.

That is where the socialists are wrong. Many have had business property foreclosed.

Can't argue with a socialist. We have thousands of neighborhoods with tens of thousands of foreclosed homes. Of course Jerym thinks the land owners are rich and need to have tazxes squeezed out of the, The communities already do that with property taxes.

[Praxeas]

Originally Posted by ILG

Wow, that's harsh. Sometimes people see injustice and are trying to define it. Helping a person to define injustice and rise above it is better than judging.

What was harsh? this thread is not about injustices, unless you consider taxing those that have more money than we do a lot more.

This thread is really about Js view that anyone making 200k or more should pay more taxes all because they have more money than the rest of us. What's the injustice?

[ILG]

Originally Posted by Praxeas

What was harsh? this thread is not about injustices, unless you consider taxing those that have more money than we do a lot more.

This thread is really about Js view that anyone making 200k or more should pay more taxes all because they have more money than the rest of us. What's the injustice?

I stand by what I said.

[scotty]

Some just dont understand economics. The poor dont create jobs. The rich do. Tax the rich and they will hold on to their money, they wont spend, they dont spend the economy dont move, people lose jobs, the government loses revenue. Its just that simple.

The thing that gets me is this has already been documented, cut taxes on business and they spend more, they expand, that creates jobs, which creates tax revenues. This has been done and works. Tax business and they hold on to their money and dont expand and everyone loses.

Personal observation: Bush cut taxes on business, my company recorded an average 15% growth every year for the following 4 yeears. We hired people and expanded. We just cut back again for fear of those cuts being repealed. We are not hiring now.

Its just that simple.

[rgcraig]

Originally Posted by scotty

Some just dont understand economics. The poor dont create jobs. The rich do. Tax the rich and they will hold on to their money, they wont spend, they dont spend the economy dont move, people lose jobs, the government loses revenue. Its just that simple.

The thing that gets me is this has already been documented, cut taxes on business and they spend more, they expand, that creates jobs, which creates tax revenues. This has been done and works. Tax business and they hold on to their money and dont expand and everyone loses.

Personal observation: Bush cut taxes on business, my company recorded an average 15% growth every year for the following 4 yeears. We hired people and expanded. We just cut back again for fear of those cuts being repealed. We are not hiring now.

Its just that simple.

Yep - that's it!

Give them some tax incentives to stay in the US and they'll provide jobs for here and not continue to flood outside the US to avoid all the taxes.

[Praxeas]

Originally Posted by ILG

I stand by what I said.

That may be, but it portrays some sort of injustice that exists because some people have more money than others, which also suggests those that have more money got it through corrupt means.

The real issue here though with JD has nothing to do with an injustice because some people have more money than we do. Aside from Paris Hilton who got her wealth because of her parents, most Americans are hard working Americans who went to college and worked their way up. I refuse to cheapen their success with the word injustice nor do I demand half of what they make just because they have more than I do.

Many of those people with a lot of money give HUGE sums to charity too.

I didn't say anything harsh, and I stand by that

[Praxeas]

Originally Posted by scotty

Some just dont understand economics. The poor dont create jobs. The rich do. Tax the rich and they will hold on to their money, they wont spend, they dont spend the economy dont move, people lose jobs, the government loses revenue. Its just that simple.

The thing that gets me is this has already been documented, cut taxes on business and they spend more, they expand, that creates jobs, which creates tax revenues. This has been done and works. Tax business and they hold on to their money and dont expand and everyone loses.

Personal observation: Bush cut taxes on business, my company recorded an average 15% growth every year for the following 4 yeears. We hired people and expanded. We just cut back again for fear of those cuts being repealed. We are not hiring now.

Its just that simple.

They also give less to charity. Apparently a lot of Americans think the government is a better manager of your money than the rest of us despite the government taking a trillion dollars and throwing it at banks and other institutions with the promise that it will fix our economy and create jobs. And it did not yet they still want to tax them MORE and expect the government to fix everything.

What they need is not more taxes but better management of what taxes they are already getting. Cut the fat, be better examples themselves instead of running up 100k martini tabs. Stop taking our money and giving it to their friends in big companies. Stop inflation too.

If anything needed to be done maybe some, not a lot, but some regulation on the markets and the loan market that got us here. Check the "everyone get's a house" crud that Clinton forced on us. Fix the problem. Dems think they can fix problems by throwing someone elses money on it, like putting a bandaid on a festering wound

[Brad Murphy]

I think the progressive tax system is wrong. Why should someone have to pay a larger share (percentage of income) in taxes just because their income is greater? This reminds me of the following joke:

The wealthy pay most of the taxes, so it should be no surprised that they get a larger percentage of the tax cut total back! It is only fair.

——

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.
So, that’s what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. ‘Since you are all such good customers, he said, ‘I’m going to reduce the cost of your daily beer by $20. Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men – the paying customers? How could they divide the $20 windfall so that everyone would get his ‘fair share?’ They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.

‘I only got a dollar out of the $20,’declared the sixth man. He pointed to the tenth man,’ but he got $10!’

‘Yeah, that’s right,’ exclaimed the fifth man. ‘I only saved a dollar, too. It’s unfair that he got ten times more than I!’

‘That’s true!!’ shouted the seventh man. ‘Why should he get $10 back when I got only two? The wealthy get all the breaks!’

‘Wait a minute,’ yelled the first four men in unison. ‘We didn’t get anything at all. The system exploits the poor!’

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

David R. Kamerschen, Ph.D.
Professor of Economics, University of Georgia

As a footnote, no one knows who the real author is, as this has been passed around the internet for several years attributed to several different people.