Joe Biden: White America 'has to admit there's still a systemic racism'

[themystic]

Originally Posted by Tiny

Yes, increase our taxes, we should pay more. You hear that from Warren Buffet, John Kerry and other wealthy Democrats who game the system so they pay very little tax, no matter what the rate is. Actually Trump fits into this category too. He wanted to raise the rates on top earners but was talked out of it. Recent changes in the tax code and possibly carried forward tax losses from his bankrupt casinos make it where he likely pays very little federal income tax.

As I've said before, our tax system is the most progressive in the developed world. Mystic, you're a smart guy, but you haven't identified the real problem, which is the way we SPEND money. This link might be insightful.

http://gregmankiw.blogspot.com/2011/...ssive-tax.html

You are way smarter financially than me Tiny. I've done two things my entire life. Been very good at making money and very good at sharing with others. I've payed a lot in taxes in my life and never minded. I take the deductions like most but don't look for ways to scam anyone. Why do you think Trump doesn't want to show is taxes?

[bb1961]

Originally Posted by themystic

You are way smarter financially than me Tiny. I've done two things my entire life. Been very good at making money and very good at sharing with others. I've payed a lot in taxes in my life and never minded. I take the deductions like most but don't look for ways to scam anyone. Why do you think Trump doesn't want to show is taxes?

When is a individuals personal tax returns anybody's else fucking business!! That person deals with the IRS not the general public
Again your class envy is shining through!!
Why don't you share more with the Gumment...as you think others should...please don't be a hypocrite!!
How much more should Bozos give...Hummmmm

[themystic]

Originally Posted by bb1961

When is a individuals personal tax returns anybody's else fucking business!! That person deals with the IRS not the general public

why don't you ask all the presidents except Nixon-( another crook)

[bb1961]

Originally Posted by themystic

why don't you ask all the presidents except Nixon-( another crook)

You didn't answer the question...as usual!!
Kennedy is the only other President that didn't take his salary besides Trump...but that isn't something we'll hear from you...HYPOCRITE!!
If it doesn't fit you template...YOU'RE BLIND TO IT!!

[Tiny]

Originally Posted by themystic

Why do you think Trump doesn't want to show is taxes?

Nobody with a complicated tax return is going to want to have hundreds of amateur forensic accountants going through their stuff. It invites attention from the IRS. It would be as bad for Trump as a second Mueller probe. This is not specific to Trump, and not to say at all that Trump has cheated on his income taxes. Any other billionaire with lots of business interests would feel the same.

The other reason, which is secondary, he probably hasn't paid much federal income tax, as a result of carried forward losses from his casinos. From what I understand, he probably didn't have to pay tax on a huge chunk of the debt forgiveness, so he's likely gotten off a lot easier than most high earners. Also it's probably not a good idea to call attention to bankrupt businesses.

One of the things I don't like about him is that he seems to want to run the government to some extent like he used to run some of his businesses that went bankrupt. That is, borrow lots of money. You can see this in the deficits he's about to run up, and in him pushing the Fed to keep interest rates low so the payments on government debt will be more sustainable.

[bb1961]

Originally Posted by Tiny

Nobody with a complicated tax return is going to want to have hundreds of amateur forensic accountants going through their stuff. It invites attention from the IRS. It would be as bad for Trump as a second Mueller probe. This is not specific to Trump, and not to say at all that Trump has cheated on his income taxes. Any other billionaire with lots of business interests would feel the same.

The other reason, which is secondary, he probably hasn't paid much federal income tax, as a result of carried forward losses from his casinos. From what I understand, he probably didn't have to pay tax on a huge chunk of the debt forgiveness, so he's likely gotten off a lot easier than most high earners. Also it's probably not a good idea to call attention to bankrupt businesses.

One of the things I don't like about him is that he seems to want to run the government to some extent like he used to run some of his businesses that went bankrupt. That is, borrow lots of money. You can see this in the deficits he's about to run up, and in him pushing the Fed to keep interest rates low so the payments on government debt will be more sustainable.

The Gumment isn't "actually" bankrupt until it defaults on it debts.
The question is with out of control spending when is the tipping point?
The money the Gumment is going to need just to pay the interest on the debt when they have taxed every dime of earnings to the point where there is no more earnings to tax...don't know when the will happen...but it is coming.

With the debt rising out of control so does interest on the
money owed...without even touching the principle.
I won't be alive to see this catastrophic meltdown but I think the kids born now will be in for a rude awakening. Infants not even out of the womb are being screwed royally...I wonder what their tax rates will be??
This shit goes across party lines but you have to understand the people in Gumment today won't be alive to see the massive collapse...this is head in the sand shit!!

The answer isn't tax and spend...the Gummet always wants us to do with less, not them...this is fucked up shit. Why is it the people with political ambitions spend so much fucking money to get elected to a position that they could never recoup the massive amount spent getting there?? Answer...power, money and self interest...most get there with modest portfolios and leave MILLIONAIRES!!

This is a self interest racket, don't kid yourselves...they are not there for their constituents...for the most part.
Whatever happen to austerity??...it's a dirty word in Gumment circles...it would work if they just implemented it!!

https://archive.org/details/governmentracket00gros

Like the great...Ronald Reagan said...The Gumment is the problem not the solution...what other president has EVER said that...he is SOOOOOO right!!

https://www.youtube.com/watch?v=XObcP69dhCg

[Tiny]

You hit the nail on the head bb. Reagan was wise, too bad we can’t elect more people like him.

[themystic]

Originally Posted by bb1961

The Gumment isn't "actually" bankrupt until it defaults on it debts.
The question is with out of control spending when is the tipping point?
The money the Gumment is going to need just to pay the interest on the debt when they have taxed every dime of earnings to the point where there is no more earnings to tax...don't know when the will happen...but it is coming.

With the debt rising out of control so does interest on the
money owed...without even touching the principle.
I won't be alive to see this catastrophic meltdown but I think the kids born now will be in for a rude awakening. Infants not even out of the womb are being screwed royally...I wonder what their tax rates will be??
This shit goes across party lines but you have to understand the people in Gumment today won't be alive to see the massive collapse...this is head in the sand shit!!

The answer isn't tax and spend...the Gummet always wants us to do with less, not them...this is fucked up shit. Why is it the people with political ambitions spend so much fucking money to get elected to a position that they could never recoup the massive amount spent getting there?? Answer...power, money and self interest...most get there with modest portfolios and leave MILLIONAIRES!!

This is a self interest racket, don't kid yourselves...they are not there for their constituents...for the most part.
Whatever happen to austerity??...it's a dirty word in Gumment circles...it would work if they just implemented it!!

https://archive.org/details/governmentracket00gros

Like the great...Ronald Reagan said...The Gumment is the problem not the solution...what other president has EVER said that...he is SOOOOOO right!!

https://www.youtube.com/watch?v=XObcP69dhCg

a lot of truth in your post bb, why would trump give a huge tax break and then raise the debt another 2 trillion? why do the government spend 1/3 the budget on defense? Why is the government involved in our sex lives and pregnancies. Don't preach about big government but its ok for the things you want. Give me one example of a giant tax break for the wealthy yielded big results after 5 years. I voted for Reagan twice and some of the worst financial times I ever went through were under his presidency

[bb1961]

Originally Posted by themystic

a lot of truth in your post bb, why would trump give a huge tax break and then raise the debt another 2 trillion? why do the government spend 1/3 the budget on defense? Why is the government involved in our sex lives and pregnancies. Don't preach about big government but its ok for the things you want. Give me one example of a giant tax break for the wealthy yielded big results after 5 years. I voted for Reagan twice and some of the worst financial times I ever went through were under his presidency

You premise is flawed...you keep saying tax breaks...as if anyone's earning aren't theirs FIRST as though tax brakes are something the Gumment is giving you...the more tax the more they are taking!!
The Gumment can't give anything to anyone without taking from someone else first...the GUMMENT MAKES NOTHING they have to take it from someone else!!
You said you were a capitalist...if you were you would be in favor of a limited Gumment...Hummmm

https://www.investors.com/politics/e...nues-deficits/
Go figure!! Like I said you premise is flawed.
The best Gumment is limited Gumment!!

https://www.youtube.com/watch?v=U1QgEh8OjPg

[themystic]

Originally Posted by bb1961

You premise is flawed...you keep saying tax breaks...as if anyone's earning aren't theirs FIRST as though tax brakes are something the Gumment is giving you...the more tax the more they are taking!!
The Gumment can't give anything to anyone without taking from someone else first...the GUMMENT MAKES NOTHING they have to take it from someone else!!
You said you were a capitalist...if you were you would be in favor of a limited Gumment...Hummmm

https://www.investors.com/politics/e...nues-deficits/
Go figure!! Like I said you premise is flawed.
The best Gumment is limited Gumment!!

You have a flawed premise. Why is the government spending my money on bombs instead of bridges? You don't like the government>? Do you like roads, airports, police, etc. I don't need them legislating my morality. Churches should pay taxes also

[bb1961]

Originally Posted by themystic

You have a flawed premise. Why is the government spending my money on bombs instead of bridges? You don't like the government>? Do you like roads, airports, police, etc. I don't need them legislating my morality. Churches should pay taxes also

There you go again...can't discuss the fact that I posted for you.
If your not going to contribute to the discussion...what are you adding to the discuss other that you off topic nonsense...you sure you're not Gore Vidal...

[themystic]

Originally Posted by bb1961

There you go again...can't discuss the fact that I posted for you.
If your not going to contribute to the discussion...what are you adding to the discuss other that you off topic nonsense...you sure you're not Gore Vidal...
Here's a NYT article for you...please spin it!!
https://www.nytimes.com/1984/10/23/u...overnment.html

Reagan went out in disgrace. Trickle down economics failed. His foreign policy against Russia was better than any President. Funny how you love the Russians bb. I don't think RR would have liked you

[bb1961]

Originally Posted by themystic

You don't like the government>?

You as a self avowed capitalist do....strange
How did you know I didn't like big Gumment...you're not as as I thought...there is a sliver of hope for you yet!!
Just come out and say it...you're in favor of BIG GUMMENT...the first step is admitting you have as problem...

[themystic]

Originally Posted by bb1961

You as a self avowed capitalist do....strange
How did you know I didn't like big Gumment...you're not as as I thought...there is a sliver of hope for you yet!!
Just come out and say it...you're in favor of BIG GUMMENT...the first step is admitting you have as problem...

Hi My name is Mystic-"Im powerless over big government and my life has become unmanageable "

[Tiny]

Originally Posted by themystic

a lot of truth in your post bb, why would trump give a huge tax break and then raise the debt another 2 trillion? why do the government spend 1/3 the budget on defense? Why is the government involved in our sex lives and pregnancies. Don't preach about big government but its ok for the things you want. Give me one example of a giant tax break for the wealthy yielded big results after 5 years. I voted for Reagan twice and some of the worst financial times I ever went through were under his presidency

Mystic, I agree with the first part of your post.

As you know, there are a lot of things besides the tax rate on high earners that effect the economy. The overall level of taxation and the size of government are more important. If you filter out small countries and petrostates, the five most prosperous countries in the world are the following: Singapore, Ireland, Switzerland, Hong Kong, and the United States. See https://en.wikipedia.org/wiki/List_o...PP)_per_capita for confirmation.

What do these countries have in common, besides rule of law and relatively low levels of corruption? Overall, compared to other developed countries, they have lower taxes. Significantly more money goes into the private sector than to government. See https://en.wikipedia.org/wiki/List_o...e_to_GDP_ratio

My experience after Obama's tax increases are similar to yours under Reagan. Part of the reason is that I'm not going to bust my ass and risk much money. Why do it if you're going to pay a big chunk of your income to the government if you do well but get nothing back if you do poorly.

I don't think its accurate to say Reagan went out in disgrace. Maybe you're talking about Iran Contra? He went out of office with a 63% approval rating. He did spend more on defense than I would have liked, but many people, maybe including you, make the argument that he brought down the iron curtain as a result.