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Discussion Starter #61 (Edited)
If the ruling class paid as little tax as you did, the country would go bankrupt.

The more you earn, the more you pay, in total, and as a percentage of your earnings.
It's simply not true the rich pay less, in fact the rich pay the vast majority of all income tax.


I have a question.
Would you rather work in a world where everyone makes $24k/yr.
Or 1% make $2 Million a year, and 99% make $48k/yr.

Also the cost of goods in both worlds remains the same.

Capitalist gives us the second world, socialism can't even provide the first.
The Capitalists gave us nothing ..... Zero.
They were all totally bankrupt in 2007 and 2008.

And 10 years ago, exactly how hard did Gates and Buffet work to be made whole again?
Who worked and sweated to put all the value back into the system and to make the Ruling Class whole again?

Nobody Worked. Nobody earned a nickel. It was just printed out of thin air like a magician act does in Vegas.

It was the Common Taxpayer (and his great grand children) who came to the rescue of the economic system.

The Capitalists had polluted every banking facility in the universe with worthless paper and 600 Trillion in derivatives and another 300 Trillion in Toxic Assets.

The Capitalists have no shame at all.
 

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Discussion Starter #62 (Edited)
I gotta ask again .....

When Bill Gates reviews his stock portfolio, how did he earn all that wealth?
The clown was bankrupt when the virus arrived on our shores. His stocks were worthless.

So,tell me just how hard Billy Gates and the Boys worked to earn all that value in the stock market in just 120 days?

He earned nothing. Tax Payers propped him up and made him whole again.
Poor Folks want the same deal that Bill Gates and Buffett just got.
The poor are willing and promise to work just as hard as Gates and The Clowns did to become whole again.

Poor Folks want a Debt Jubilee
 

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Thats only true to a point, say for upper middle class to fairly well off category. Very wealthy people have the means and resources to get creative with their earnings to hide income and find write offs in all kinds of ways, legally or otherwise.
I don't believe that is true for those who aren't breaking the law.
Please show me how, I've never heard of the secret "super rich, no tax" credit on our tax forms. Can you show tell me what line number it is on the Schedule 1?
 

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Discussion Starter #65 (Edited)
If your house was built or purchased before the 2007/2008 financial crisis, then the capitalists worked hard for it.:)

But anything of value since the crash was just magic. Nobody worked for it.
It was kind of like free.
Rich Folks picked and harvested 10 trillion or more dollars from the money tree and then just promised to pay interest for the next 38 thousand years or so.
Very Simple Ordeal. No hard work at all.

I guess the money trees don;t grow on poor streets.

Poor Folks want a Money Tree.
 

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Discussion Starter #66
As you sit in your capitalist home, on a capitalist invention complaining about them.
I am stating "Fact" in the form of a "Complaint".

It is not a Pure Capitalist System.

It is a U.S. Capitalist System.
It is this which I find complaint with.
 

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As you sit in your capitalist home, on a capitalist invention complaining about them.
Socialists think wealth is magically created from unicorns and pixie dust and is then available for all to share.

Then someone who actually did all the work and took all the risk has the nerve to say "no, you can't have my money" they cry that it's unfair. The reality is that nothing is more unfair that someone thinking that they are entitled to the fruits of someone else's labour.
 

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I don't believe that is true for those who aren't breaking the law.
Please show me how, I've never heard of the secret "super rich, no tax" credit on our tax forms. Can you show tell me what line number it is on the Schedule 1?

Same as when my broke friends buy new trucks for their dog & pony businesses because they can just write it off. They get mad when I lol. I know better than to try explain things to them.
 

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Discussion Starter #69 (Edited)
Socialists think wealth is magically created from unicorns and pixie dust and is then available for all to share.
You have yet to reply to my question .......

The complete world was bankrupt in 2007-2008 financial crisis. Billy Gates and The Clowns had lost all the value they held in the stock Market. They were broke.
How hard did Billy Gates and Buffett have to work to recouperate or recover the lost value within their portfolios?
What type of work was that?

When the virus arrived upon the shores of North America,the complete world was bankrupt
How hard did the U.S. Capitalists work to create the wealth which has returned to the stock market in the past 120 days?

Nobody worked for anything.

Get Real. The U.S. Capitalists just shook a money tree and grabbed what money fell to the ground.

Quit telling me how smart and successful the U.S. Capitalist is.

They just own a printing press.

The only possible work involved was to keep the printing press well oiled.

In 2007 and 2008 the U.S. Capitalist's polluted every bank vault in the universe and drove the world into bankruptcy with 600 Trillion in Toxic Assets. The U.S. Capitalists awoke the following morning, and dashed over to the Federal Reserve and created money out of thin air and proclaimed that they were "Rich" again.

The Capitalists have no shame at all.

They enter the Federal Reserve and print Trillions and promise to pay a ficticious interest rate for the next 37 thousand years.

How much work Did Billy Gates need to do in order to accomplish that?

I think you need to quit playing the game called "Stupid" and answer the question I pose here.
 

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<snip>And the very first thing is that Citizen United has to be ruled to be illegal.
Google Term - Citizen United

The Lower Classes can not ever expect to compete in a market of ideas when cash is said to equal speech.

Anything more than 5 million in the bank and 300 thousand per year is greed.<snip>
I agree that Citizens United planted the seeds of destruction for the US democracy.

But I think you need to be sensitive to the middle class who need 10 years of high earnings before retiring.

I also think elected representatives should be limited in their annual earning while representing their constituents from anything but their personal savings before being elected.

Yes the system is broken!
 

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Same as when my broke friends buy new trucks for their dog & pony businesses because they can just write it off. They get mad when I lol. I know better than to try explain things to them.
One of many ways but of course Mr Matt is just playing dumb.
 

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Discussion Starter #72 (Edited)
No Good News concerning the virus and the market crashes.

The planned "Return To Work" needs to be cut back.

The virus is too active and placing too much stress on the medical system.

Is the Federal Reserve going to shake the money tree and grab another 10 Trillion?

The rest of the world will gasp.

I think that when all is said and done, we will find that it is our public pension systems which will take the hit and not Billy Gates and The Clowns.
Billy Gates is selling what he can to the Pension Funds.

They gotta hire at least 500 thousand test/trace people. Hire the same amount of people that it takes to perform or carry out a census. They need to be trained and completely equipped.
 

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Discussion Starter #75 (Edited)
Actually there is much good news about the virus and many new treatments.
Oh! Lots of good news is right. but the news offfered to my ears is inconsequential.
The bottom line is that the virus is too virulent and returning to work is at least 6 months away.
With the virus being this active means no opening of schools and people need daycare to be able to go to work.
America might need to stay 80% inactive until s real positive event happens.
I see no positive developments on the horizon.
And, if you live in a city and have investments in city living, yuh gotta think how long it might be before employees can safely ride the subway again. I can't see anybody wanting to wait around for that to happen. Money is going to leave the cities.

There will be no normal unti people can be packed into subway cars like sardines again.
People are not going to smell the armpits of other passengers without knowing the trip is virus free.
Passengers need serious training on how to properly wear and fit a mask to the face.

Maybe invest in a firm manufacturing bee suits.:)
 

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High income people pay a large % of the total income tax, but that is only one source of government revenue.

It is the millions of Canadians who pay the HST, licensing fees, hydro and water surcharges, municipal taxes, gas taxes etc. etc......who pay the bills.

The math is simple, as demonstrated when the government gives a small amount to a lot of people.........like the OAS.

It costs about $25 billion a year to give seniors a maximum of $600 a month. It costs a lot to give a little.

The same is true for collecting revenue, but in reverse. The millions of Canadians provide the vast majority of the government revenue.

I also suspect the vast majority of wealthy people don't create jobs. They use their money to make more money.

Their money is often taxed at a lower rate than employment income. Just the way it is, but I suspect that is about to change.

I suspect the capital gains tax will return to the lifetime capital gains exemption and anything above that would be taxed like earned income.

Older people will remember when the lifetime capital gains exemption was $100,000.
 

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Discussion Starter #77
I think that the Ruling Class is going to be forced to give everybody a debt jubilee just like was done to the Rich Folks with the bailout.
The lower Class wants to breathe again.
They need a debt jubilee just like what just happened to the Rich Folks with the bail out.
 

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Income tax comprises 49% of overall government revenues.

If the top 20% of earners pay 65% of the income taxes, as claimed by the Fraser Institute below, they pay 65% of 49%.

Specifically, the top 20 percent pays nearly two-thirds of all income taxes (64.4 percent) while earning approximately half of all income (49.1 percent).

So, basically about 30% of overall revenue collected by the government. It is hardly the dire scenario offered by conservative lobby groups.

High earners use services that derive from the 70% of revenue paid by everyone else, despite high earners receiving 49.1% of all income.

I would think that high earners are doing very well in Canada.

 

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High income people pay a large % of the total income tax, but that is only one source of government revenue.

It is the millions of Canadians who pay the HST, licensing fees, hydro and water surcharges, municipal taxes, gas taxes etc. etc......who pay the bills.
High income people also pay all of that.
 

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Yes they do also contribute to those revenue streams, but their small number dictates they provide a small % of that revenue.

The bulk of those revenues are paid by Canadians who aren't high income earners.

If lobby groups are going to compare the contributions of high income earners versus other Canadians, they have to look at more than income taxes.
 
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