http://www.thedailybeast.co...-richer-fiction.html

quote No theoretical model can suggest a way that the overall economy would boom and grow while the rich somehow failed to “get richer.” Figures from the IRS, however, demonstrate that since the recession began the rich hardly got richer: the number of Americans earning $1 million or more fell a staggering 40 percent between 2007 and 2009 (declining to 236,883), while their combined incomes fell by nearly 50 percent—a vastly greater loss than the 2 percent drop in total incomes of those making $50,000 or less. Could anyone make a plausible case for how a massive reduction in the number of top earners (with nearly 200,000 fewer million-dollar incomes) could conceivably benefit the economy, or count as good news for anyone?

Read the entire article at the link above.

You're getting better at the cut and paste!!

Short summary of the article and then post the link for those interested!

Here's another article on corporate taxes and who really pays them.
http://godfatherpolitics.co...dont-pay-taxes-ever/

quote A CNN article reports that many corporations don’t pay income taxes, and many more don’t pay the 35 percent corporate tax rate. The average tax is around 18 percent. You and I should be thankful that some corporations don’t pay any taxes and be upset that the average tax rate is 18 percent. When a corporation pays taxes, it counts those taxes as an expense. All business expenses are passed on to consumers. That means that they are passed on to you and me. When Congress calls for more taxes on Big Oil, they are actually calling for a tax on us. This is in addition to the taxes we already pay to the state where we buy the gas and the federal government. Governments bring in more money than the oil companies make in profit without taking any risks. Governments just collect the money. Governments are in the business of fomenting class warfare. It’s one of the ways they can tax without a groundswell of opposition. There are fewer corporations when compared to individual voters. So by campaigning on a “tax the corporations” platform, politicians can appease and gain the support of tax payers. In the end, however, taxpayers are getting stuck with the higher taxes corporations will pay. Oil companies are in for major political attacks. Many of the people who argue for higher taxes from Big Oil are invested in mutual funds that are heavily weighted in oil stocks and companies that are dependent on oil companies. Some of the raw materials that are produced from petroleum (“rock oil) are synthetic cloth, plastics, paint, inks, tires, drugs and medicines, cosmetics, and many other products. When the oil companies are taxed, the prices of all these commodities go up. So when we want Congress to tax Big Oil or any other company, we are only calling for a tax on ourselves. How does taxing corporations help you and me? Do we see any of that money flow into our pockets? No we don’t. Politicians use corporations as economic bad guys. The money that’s collected from them is used to fund their pet projects. Democrats and Republicans are guilty.

Read more of the article at the link. The article also discusses how much profit oil companies actually make.

If it's in a cut & paste on a public message board, it's gotta be true!

the rich get richer is no myth it takes money to make money.

It's also Biblical: "For to all those who have, more will be given, and they will have an abundance; but from those who have nothing, even what they have will be taken away". Matthew 25:29

quote Originally posted by spark1: It's also Biblical: "For to all those who have, more will be given, and they will have an abundance; but from those who have nothing, even what they have will be taken away". Matthew 25:29

You put a smiley face at the end, so I assume you're being at least somewhat facetious. If not, what is the context of that verse? I notice a lot of people quote Bible verses in multiple ways with different meanings.

quote Originally posted by fierobear: ... what is the context of that verse? I notice a lot of people quote Bible verses in multiple ways with different meanings.

Let me JazzMan that for you, you know, a 60 second Google check could have saved me the effort,

quote New Living Translation (©2007) To those who use well what they are given, even more will be given, and they will have an abundance. But from those who do nothing, even what little they have will be taken away.

quote Figures from the IRS, however, demonstrate that since the recession began the rich hardly got richer: the number of Americans earning $1 million or more fell a staggering 40 percent between 2007 and 2009 (declining to 236,883), while their combined incomes fell by nearly 50 percent—a vastly greater loss than the 2 percent drop in total incomes of those making $50,000 or less. Could anyone make a plausible case for how a massive reduction in the number of top earners (with nearly 200,000 fewer million-dollar incomes) could conceivably benefit the economy, or count as good news for anyone?

Oh COME ON!!!!...you really aren't that dumb are you????? OF COURSE their 'salaries' are shrinking rapidly!! Just like a sea anenome draws in its tentacles when facing danger...so the 'Rich' start hiding their riches and assets when there is talk of 'soak the rich' in the air!! The Rich just LOVE recessions Just look at everything being sold off at half value in desperation by the struggling Middle Class...golden opportunity for somebody with sufficient funds available to buy it up, hold it, and resell when the Market goes back up again...as it will when they decide it won't go any lower, other than BUST. Unlike Banks, they don't NEED a cashflow from investments to survive...they have more than enough to get through quite comfortably, thank you very much...AND buy up all then real bargains at super-low prices.
Jeesh...blinded by the rhetoric of self-protection disguised as a declaration of their imminent poverty?
How those who WANT to believe, will swallow hook, line AND sinker, and then go and REPEAT it as 'THE TRUTH?!!!!! You don't try to look for the truth lurking in the shadows, because it damages your aspirations ,hopes, and forlorn belief in them allowing you to join their Club
Added in fun .I haven't been to look to see if there are any replies to this, but I bet the usual miscreants will be lining up to snipe at the 'Eurio-Communist' or whatever they choose to label me as THIS time, because I had the temerity to 'Answer back', or give them some lip Let's see if I can get it eight
cliffw, Formula88, Avengadorway to the Media (he!! THAT''S a good one off the cuff )...I shouldn't even be surprised if randye and Heybjorn get in line to take a pop! Can't have a REAL Conservative taking potshots at the Moneybags can we? So we'll just denounce him as a crackpot Euro-Socialist
Now...let's see...Hmmm (clicks submit and return to the thread button...Hahahaha!!
( I'm in a good mood tonight )

[This message has been edited by fierofetish (edited 11-05-2011).]

Nick, I am a member of their club!

I guess you are John...and I don't begrudge you a penny
Now...where are you squirelling away YOUR wealth out if harm's way?
Nick

quote Originally posted by fierofetish: Oh COME ON!!!!...you really aren't that dumb are you????? OF COURSE their 'salaries' are shrinking rapidly!! Just like a sea anenome draws in its tentacles when facing danger...so the 'Rich' start hiding their riches and assets when there is talk of 'soak the rich' in the air!! The Rich just LOVE recessions Just look at everything being sold off at half value in desperation by the struggling Middle Class...golden opportunity for somebody with sufficient funds available to buy it up, hold it, and resell when the Market goes back up again...as it will when they decide it won't go any lower, other than BUST. Unlike Banks, they don't NEED a cashflow from investments to survive...they have more than enough to get through quite comfortably, thank you very much...AND buy up all then real bargains at super-low prices. Jeesh...blinded by the rhetoric of self-protection disguised as a declaration of their imminent poverty? How those who WANT to believe, will swallow hook, line AND sinker, and then go and REPEAT it as 'THE TRUTH?!!!!! You don't try to look for the truth lurking in the shadows, because it damages your aspirations ,hopes, and forlorn belief in them allowing you to join their Club Added in fun .I haven't been to look to see if there are any replies to this, but I bet the usual miscreants will be lining up to snipe at the 'Eurio-Communist' or whatever they choose to label me as THIS time, because I had the temerity to 'Answer back', or give them some lip Let's see if I can get it eight cliffw, Formula88, Avengadorway to the Media (he!! THAT''S a good one off the cuff )...I shouldn't even be surprised if randye and Heybjorn get in line to take a pop! Can't have a REAL Conservative taking potshots at the Moneybags can we? So we'll just denounce him as a crackpot Euro-Socialist Now...let's see...Hmmm (clicks submit and return to the thread button...Hahahaha!! ( I'm in a good mood tonight )

Only one shot so far. I guess I'm an Amero-Communist?

quote Originally posted by fierobear: You put a smiley face at the end, so I assume you're being at least somewhat facetious. If not, what is the context of that verse? I notice a lot of people quote Bible verses in multiple ways with different meanings.

It's like Twain said: “It ain't those parts of the Bible that I can't understand that bother me, it is the parts that I do understand.”

The verse doesn't seem to fit within the context of the parable being told. Maybe it's a repetition of an ancient saying, kinda like: "the rich get richer and the poor get poorer", a verse from a 1921 song:

quote Originally posted by avengador1: When a corporation pays taxes, it counts those taxes as an expense. All business expenses are passed on to consumers. That means that they are passed on to you and me. When Congress calls for more taxes on Big Oil, they are actually calling for a tax on us. This is in addition to the taxes we already pay to the state where we buy the gas and the federal government.

While there's a sliver of truth to this, it's so simplistic and recklessly misleading.

Let's pretend for a second that corporate taxes were reduced to zero. You think that businesses would pass all of this gravy onto the consumer? Of course not, prices would fall, but much of this increased income would be distributed within the companies as bonuses, raises, and dividends. Likewise, an increase in corporate tax (lets pretend a 10% increase) would not result in a 10% increase in the price of goods. Businesses would lean out their operations and become more efficient.

Lowering corporate taxes results in a higher concentration of wealth in the wealthy. Something that this country already has a problem with.

quote Originally posted by masospaghetti: While there's a sliver of truth to this, it's so simplistic and recklessly misleading. Let's pretend for a second that corporate taxes were reduced to zero. You think that businesses would pass all of this gravy onto the consumer? Of course not, prices would fall, but much of this increased income would be distributed within the companies as bonuses, raises, and dividends. Likewise, an increase in corporate tax (lets pretend a 10% increase) would not result in a 10% increase in the price of goods. Businesses would lean out their operations and become more efficient. Lowering corporate taxes results in a higher concentration of wealth in the wealthy. Something that this country already has a problem with.

I have to agree. With the "Bush Tax Cuts", you'd think that we'd be swimming in jobs. The only result I saw was more American investment...in China. The facts don't support the rhetoric. I don't support more taxes on the rich; I think they should pay a fair share without dodging taxes. Likewise, corporations should pay a fair share without expecting the tax-payers to ensure their profitability.