Wall Street Guy: Real Unemployment 37%, Misery index worse

[sd'sker]

the funny thing about trickle down is that it does not even sound that appealing. a "trickle"? ooh... can't wait for our share to "trickle" down to us. they should have called it "golden shower economics". then at least it is golden and at a more exciting pace.

[TGHusker]

Trickle-down is a joke and a farce and a pipe dream at best. The current private sector American economy concentrates everything at the top. That's why when the market "recovered" the job market did not. All of the profits went to the 1%. And indeed, over the past 40 years, wages for the bottom 85% have remained basically stagnant while big gains are made in the top 5%.

Your solution to this dilemma is what?

1. Tax all income from whatever source derived at the same bracketed rates.

2. Reinvest the proceeds in infrastructure, education, research, etc.

 

That's where I would start but it's no silver bullet.

 

Would you stay wt the same tax brackets that we have today or go with a diff tax plan - Flat tax or Fair Tax or some other plan?

 

If there were a silver bullet I think it would be what Pat talks about on the attached linked. Bring back our mfg base. - I'll start a new thread with it as it is a topic of its own.

Pat Buchanan says bring out industry back. He echo's what you and JR said about the top 1%. I think we can all agree that the reduction of our mfg base has hurt the middle class and lower class while puffing up that 1%. I'm not a class envy guy and I think those who take risks should be rewarded but it should be balanced wt social responsibility. Our trade/tax policies have not reinforced this social responsibility.

 

http://www.wnd.com/2014/01/free-trade-far-from-free/

[carlfense]

Would you stay wt the same tax brackets that we have today or go with a diff tax plan - Flat tax or Fair Tax or some other plan?

Brackets. I've yet to hear a real argument as to why they are unfair.

[strigori]

Trickle-down is a joke and a farce and a pipe dream at best. The current private sector American economy concentrates everything at the top. That's why when the market "recovered" the job market did not. All of the profits went to the 1%. And indeed, over the past 40 years, wages for the bottom 85% have remained basically stagnant while big gains are made in the top 5%.

Your solution to this dilemma is what?

1. Tax all income from whatever source derived at the same bracketed rates.

2. Reinvest the proceeds in infrastructure, education, research, etc.

 

That's where I would start but it's no silver bullet.

 

Would you stay wt the same tax brackets that we have today or go with a diff tax plan - Flat tax or Fair Tax or some other plan?

 

If there were a silver bullet I think it would be what Pat talks about on the attached linked. Bring back our mfg base. - I'll start a new thread with it as it is a topic of its own.

Pat Buchanan says bring out industry back. He echo's what you and JR said about the top 1%. I think we can all agree that the reduction of our mfg base has hurt the middle class and lower class while puffing up that 1%. I'm not a class envy guy and I think those who take risks should be rewarded but it should be balanced wt social responsibility. Our trade/tax policies have not reinforced this social responsibility.

 

http://www.wnd.com/2...-far-from-free/

Brackets need to be kept. No way around it. In fact the brackets need to get much more punitive like they were prior to Reagan. By making earnings past a certain point subject to brutal diminishing returns, it does work out better. History shows us this.

 

And the 'fair tax' is the farthest thing from 'fair' that can be possible. Its a poor tax plain and simple.

 

Breaking of the unions was the worst thing to happen to the 99% in the last century. Look at what happened after they were mostly broken. Wage stagnation. End to profit sharing, end of pensions, and massive benefit cuts. Re-unionizing would do a lot to help fix the income inequality.

 

I am also in favor of using the tax code to force more equal pay if needs be. Which it would probably need to be. Any business that have a pay package discrepancy (this includes all forms of income and stock options and the like) beyond a certain percentage would be subject to a 99% tax on all earnings. Stock holders would at that point demand wages be brought inline, and end the era of multi-million dollar execs and CEOs.

[deedsker]

Increase taxes on the highest 0.5% of people back to the rates in the middle 1900"s on all income.

 

Bump the alternative minimum tax up so that it does not affect nearly as many people in the middle class and increase the rate at which it is implemented (fix to inflation).

 

Cap financial institutions ability to pay directors of operations to a percentage of minimum employee compensation (possibly on all companies).