The Conservative Cave
Current Events => The DUmpster => Topic started by: ScubaGuy on December 17, 2008, 10:35:49 AM
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Now this is what I call an excellent attempt for 2007's top honors.
link to the DUmp (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4663480)
Joanne98 Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Tue Dec-16-08 04:41 PM
Original message
Should we create a global wealth tax?
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First a quick run down on the "global financial crisis"..
Why weren't Bear Sterns, Lehman, AIG or Citi allowed to fail..
What we know so far is that they all held credit default swaps. People that they sold bad debt to were reassured with "protection"..They told the investors.. "Don't worry, the US real estate market will never go down.. But if you're still worried, we have a product that will take the risk to zero. You can buy these CDS's and if the debt does go bad you will still make money".. MAGIC!
But the subprime debt did go bad and the CDS holders were sitting there holding lottery tickets. BUT....
The brokers sold TOO many.. And couldn't pay. AND if they had been allowed to go bankrupt.. the WINNERS wouldn't be able to collect their money.. SO
The US taxpayer had to take their children's future credit card and MAX IT OUT!
If you ran a casino that didn't pay the winners, no one would gamble there anymore and GOD KNOWS..we couldn't have that happen.
Can't we just throw the criminals in jail? Well, it gets kind of complicated now..
In the global banking "suction cup" system. Money moves around in digital banking heaven..
It goes from a bank to a hedge fund, to a bond, to a private bank, to a foundation, to a charity, to disapear.. DA TA!
It's hard to follow the money when it goes into a bank with a name on the account, then goes into a private bank where the name is changed to a number, then goes out the back of the private bank into another private bank, then it comes out with a different number, then it goes into another private bank and comes out the back with a different name on it.. Well you get the picture.
Ask The Center for Public Integrity about this. They have been trying to do this for years. It doesn't work..
So what do we do?
A global wealth tax. A FLAT tax (to make Steve Forbes happy) of 99% on capital gains made by wealthy individuals (charities and trust funds included). Make it go back 5 years and keep it five more. And most importantly.. USE THE MILITARY TO COLLECT THE MONEY!
It's the only way we have any hope of paying off the debt the thieves have left us with.
If you think this is a good idea. Rec this thread.
Yesterdays version of this post was funnier since she was demanding 99% of WEALTH, not capital gains.
I wonder of the DUmmy understands that on a world wide basis, even if she's living out of a DUmpster in the USA she's wealthier than most of the world.
I wonder if she's willing to pony up 99% of what she has.
gravity (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Tue Dec-16-08 04:51 PM
Response to Original message
6. If you tax 99% of capital gains, there will be no incentive to invest
and there would be a lot less revenue.
Raising capital gains for the super wealthy is a good idea, but keep it realistic and fair. Most people who are wealthy aren't criminals, and the tax code should be about promoting stable growth for all classes instead of punishment.
Joanne98 Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Tue Dec-16-08 04:54 PM
Response to Reply #6
8. I don't believe they invest in anything real but you're right...
99% is too punitive. How about 75%?
She's got to stop sampling her son's crack.
Terry in Austin Donating Member (553 posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Tue Dec-16-08 06:13 PM
Response to Reply #6
16. The tax=punishment meme
Sucks.
Basic civics: taxes are the cost of living in a civilization. They're dues you pay to be in the club. And if you're not in the club, all that money is useless, except maybe for kindling.
The only reason you say that is because you're an unemployable DUmmie and don't have to pay taxes.
rhett o rick Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Tue Dec-16-08 07:39 PM
Response to Reply #6
20. No insentive to invest?? Where do you have your head? What will they do with their money if they
choose not to invest? Besides, recent past shows that when they invest, it's in China. When they are making billions they can share. If they don't we all perish.
Sorry about the head comment. I am very upset that the wealthy are killing us literally.
Then damn rich people collecting all those handouts. (Hey DUmmie who pays the largest part of the tax bill in the USA?)
zagging (113 posts) Click to send private message to this author Click to add this author to your buddy list Click to add this author to your Ignore list Wed Dec-17-08 10:58 AM
Response to Original message
33. A better plan would be to...
Edited on Wed Dec-17-08 10:59 AM by zagging
...make the rich pay to hire all the poor people into the Global Military Jackboot Brigade where they'll club all the baby seals, puppies, and other cute useless critters of the world. We'd have zero unemployement, plenty of tender food, and no need for animal shelters. If any of the rich object, they'll be clubbed, flayed, impaled and piked, and their wealth will be given to someone who will get with the program, even though their wealth will be immediatly stripped away by subsidizing the GMJB and puppy mills. Yes, puppy mills. To keep employement high, we'll subsidize puppy mills and other cute critter mills, and release the beasts into the city streets all over the world so they can in due course also be harvested by more clubbing.
What? It's no more gruesome or impractical than your plan.
:lmao: :lmao:
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(a) I wonder of the DUmmy understands that on a world wide basis, even if she's living out of a DUmpster in the USA she's wealthier than most of the world.
(b) I wonder if she's willing to pony up 99% of what she has.
(a) Uh-huh.
(b) Nope.
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rhett o rick
20. No insentive to invest?? Where do you have your head? What will they do with their money if they choose not to invest?
At a 99% tax rate?? And you're asking where they have their head?? We know where yours is located.
:mental:
.