General Discussion

hfojvt

(37,573 posts)

33. capital gains taxes increased automatically

Fri Sep 13, 2013, 12:38 AM

Sep 2013

when the Bush tax cuts expired.

I guess we should be thankful that Obama did not cut them

the way he cut the estate tax
the way he cut the tax on dividends (a move which saves Alice Walton about $100,000,000 (yes that is 100 million dollars) a year in taxes and saves Mitt Romney close to $1,000,000 a year in taxes.

So, sure, taxes went up on the top 2%. Yeah, sure.

This link shows that even the top 1% got $666 billion in tax CUTS. Not tax increases - PERMANENT tax CUTS.

http://ctj.org/pdf/bidenmcconnelldistribution.pdf

Meanwhile the bottom 40% only get $370 billion of permanent tax cuts.

No, the bill took the Bush tax cuts, which twice were scheduled to die, and instead made 85% of them permanent, and the major beneficiaries of that move are not the bottom 60%. They are the top 20%.

Now you may wish to lump 8% of the top 20% in with the bottom 60% to make it look like it benefits the bottom, but the analysis at that link shows
19% for the bottom 60%
36% for the top 5%
65% (!!!) for the top 20%

making society MORE unequal.

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TIRED of INEQUALITY? Get used to it. Things look like they're only gonna get worse. [View all] Octafish Sep 2013 OP

Jeff Greene(who ran for Senate in Florida in 2010) put it in politically incorrect terms. Dawson Leery Sep 2013 #1

''Having money is great,'' Greene says. ''It’s fun. The more the better.'' Octafish Sep 2013 #9

The rich Wabbajack_ Sep 2013 #19

I think that's called the Army. FiveGoodMen Sep 2013 #49

The police. HooptieWagon Sep 2013 #72

Harder and harder to tell the difference, though. FiveGoodMen Sep 2013 #73

Message auto-removed Name removed Sep 2013 #75

I was steamed also rurallib Sep 2013 #2

The guy's vocal intonations are very condescending. Octafish Sep 2013 #11

Steve Inskeep.. sendero Sep 2013 #70

Everytime I hear "koch foundation" I cringe. nt adirondacker Sep 2013 #29

After 30+ years, I officially quit listening to NPR news for good about a week ago corkhead Sep 2013 #52

If you have a computer you can listen to lefty radio all day rurallib Sep 2013 #66

I stopped listening in the early 1990s, late 1980s. The voice tone told me everything I needed to JDPriestly Sep 2013 #71

DURec leftstreet Sep 2013 #3

Recovery for the Rich, Recession for the Rest Octafish Sep 2013 #40

"I remember when Democrats actually used government to level the playing field ... CrispyQ Sep 2013 #43

The social chasm in America Octafish Sep 2013 #44

You should start a thread with this, Octa. nt raccoon Sep 2013 #53

My sentiments exactly - thank you! Raksha Sep 2013 #90

Heard it this morn too but just got on and saw your excellent OP. HUGE K&R nt riderinthestorm Sep 2013 #4

Tyler Cowen is a Harvard man. Octafish Sep 2013 #41

Without question the highest level of condescension this side of Glenn Hubbard . . . hatrack Sep 2013 #86

and how did we get here? questionseverything Sep 2013 #5

It has nothing to do with WHO counts the vote FreakinDJ Sep 2013 #7

... questionseverything Sep 2013 #32

No Government Help for Shrinking Middle Class is going to happen FreakinDJ Sep 2013 #6

That is unless we get generation coming up now involved. Left Coast2020 Sep 2013 #23

You can't fix the kids till you fix the adults that teach them. jtuck004 Sep 2013 #28

A conversation I had with a schoolteacher friend in MN stated that kids are acting more self centered adirondacker Sep 2013 #31

It is time to get pissed Stargazer99 Sep 2013 #64

Is this defeatism? he's conceding the fight altogether? for whom is he conceding? 99th_Monkey Sep 2013 #8

Well see, THAT'S called "framing".......... socialist_n_TN Sep 2013 #83

Orwell was an optimist. Fuddnik Sep 2013 #10

Orwell could never imagine the wealth involved. Octafish Sep 2013 #95

It's so obvious - we need a New New Deal, this time with guaranteed minimum income for all. reformist2 Sep 2013 #12

Absolutely. Absolutely. Absolutely. Octafish Sep 2013 #96

What's happening now was always Reaganism's endgame deutsey Sep 2013 #13

I don't give Reagan much credit, his "handlers" had a lot of the ideas, but I do not think they had Dustlawyer Sep 2013 #15

Reagan was a telegenic puppet for the right-wing reaction deutsey Sep 2013 #17

I think we blame too much on the right-wing. The 1% isnt right or left they are power. rhett o rick Sep 2013 #45

I think you have a point deutsey Sep 2013 #48

Some of it even goes back to Nixon starroute Sep 2013 #22

Exactly...I think I finally realized that deutsey Sep 2013 #39

One vision of the future: Playgrounds for the rich in orbit LongTomH Sep 2013 #14

JFK Continued the New Deal as the New Frontier Octafish Sep 2013 #20

Or it could mean that Americans will actually get radicalized starroute Sep 2013 #16

Great Post. Tiredofthesame Sep 2013 #54

I think that is exactly what will happen Joe Shlabotnik Sep 2013 #65

Kicked and recommended. Uncle Joe Sep 2013 #18

Once business took over government all bets were off Precisely Sep 2013 #21

Your OP title reminds me of the Shins song "No Way Down" Arugula Latte Sep 2013 #24

hey, it is NOT like Obama is doing NOTHING hfojvt Sep 2013 #25

The tax increases were for the top 2% bhikkhu Sep 2013 #27

capital gains taxes increased automatically hfojvt Sep 2013 #33

When you include the lower estate tax rates ("death tax"), yes bhikkhu Sep 2013 #34

it would have been a better deal to let them all expire hfojvt Sep 2013 #37

also, the estate tax cut is NOT that big a deal hfojvt Sep 2013 #38

They want a world where the ONLY way to make it is to kiss their ass for a few crumbs. Spitfire of ATJ Sep 2013 #26

Tired of it no, not that, just somewhat jaded by it. Rex Sep 2013 #30

Recced. nt livingwagenow Sep 2013 #35

FOX News made a large portion of our nation collectively stupid. mick063 Sep 2013 #36

Truth is what Democracy craves. Octafish Sep 2013 #47

A lot of us were already stupid enough that we didn't make it a crime to lie and call it news. FiveGoodMen Sep 2013 #57

This vid should go viral, but at six and a half minutes, I guess it's too long for most people. CrispyQ Sep 2013 #42

And the nitwits among us obsess over trashing Greenwald. They cant discuss the intelligence rhett o rick Sep 2013 #46

Oh, please. Just stop. Maedhros Sep 2013 #62

Tell me that those that obsess over Greenwald arent trying to deflect attention from other rhett o rick Sep 2013 #63

Nobody is "obsessing over Greenwald", other than hacks who continue to target him with smears. Maedhros Sep 2013 #69

My greatest apologizes. You misunderstood my intent and I can see why rhett o rick Sep 2013 #74

It is possible that I'm a bit over-reactive when it comes to this particular issue. Maedhros Sep 2013 #78

I completely understand the overreaction, I've done it myself. nm rhett o rick Sep 2013 #81

Ooh, just what we need: a country full of impoverished people with a lot of guns. winter is coming Sep 2013 #50

for profit prisons can take millions more as all those angry people break laws, their lobby wrote. Sunlei Sep 2013 #58

And not for us... awoke_in_2003 Sep 2013 #80

Maybe it's time for the young generation to think about leaving the country to find Vashta Nerada Sep 2013 #51

The RIGHTward move this country has taken in 35 years on nearly ALL fronts is KILLING us. HughBeaumont Sep 2013 #55

this could change if gov would cut the barriers that prevent people from working out of their homes. Sunlei Sep 2013 #56

Hey! I don't see "In God We Trust" on that image of paper money! KansDem Sep 2013 #59

I'm trying not to go insane every time I remember 1984. Octafish Sep 2013 #60

I was bothered all day by that interview. Ursus Rex Sep 2013 #61

Thank you for putting it into words, Ursus Rex. Octafish Sep 2013 #91

K&R! TeamPooka Sep 2013 #67

and guess what - 'electing more democrats' won't help one bit. KG Sep 2013 #68

How about Liberal Democrats? They're infinitely better than the Wall Street lubbers. Octafish Sep 2013 #89

sadly I tend to agree with you gopiscrap Sep 2013 #76

"people who can work with computers can make a lot"... awoke_in_2003 Sep 2013 #77

The guy hit all the right chords, didn't he? Octafish Sep 2013 #88

He is either dense or a liar... awoke_in_2003 Sep 2013 #97

something else to aspire to...selling drugs matt in france Sep 2013 #79

Tired of gloom & doom. washnwmn Sep 2013 #82

Please, write an OP. Meanwhile, the Banksters who destroyed the American middle class... Octafish Sep 2013 #84

I heard this and wanted to throw up . . . hatrack Sep 2013 #85

In boosting the ''size'' at the top of the pyramid from 1- to 15-percent he added a lot of Hopium. Octafish Sep 2013 #87

K & R, bookmarked. Raksha Sep 2013 #92

10% of NPR employees are going to be looking for other jobs-the airwaves belong to the people-right? bobthedrummer Sep 2013 #93

kick. liberal_at_heart Sep 2013 #94

Sounds like this guy is an Elder Basher in the vein of Pete Petersen Foundation... KoKo Sep 2013 #98