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The Greatest Depression
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[QUOTE]Originally posted by Lockman: [QB] [QUOTE]Originally posted by glassman: [qb] [b]All that happened is the same guys that played poker and lost, got their losses covered by the middle class.[/b] OK, here's my argument against that. [i]the top 1% pay 36.9% of federal tax (wealth 32.7%), the top 5% pay 57.1% (wealth 57.2%), top 10% pay 68% (wealth 69.8%), and the bottom 50% pay 3.3% (wealth 2.8%). [/i] it's the same argument some people use to complain about the "poor" not payng taxes and getting subsidies... the wealthy pay most of the taxes, and them getting bailed out is what they pay for. as for this idea that "they" are waiting for stability? that's hokus pokus... there si no such thing as stability or security, and what they are waiting for is for cosnumers to get relaoded so they can go shopping again.. only that's not gonna happen anytime soon because they just don't have the moeny. they borrowed against their homes and lost, they are out of work, and thier paychecks don't go up on average when they do work. get used to this. it's not changing any time soon.... [/qb][/QUOTE]I've heard the argument that the wealthy pay most of the taxes....but I believe that is federal income taxes, most social programs are funded by the taxes we all pay. Every paycheck has 7.5% withdrawn and the middle class being the biggest group probably pays the biggest share. Taxes on goods and services also amount to a large sum and again because of the size of the middle class more is probably collected as a group. Your argument that because rich people pay more taxes that gives them the right to bail outs is just another entitlement fantasy. You make BAD decsions you lose period. Capitalism is a beautiful thing as long as inept government lets it operate. Under a capitalist system, failure voids will be filled by companies that are run better and more effecently. Intrusive government, bailing out the mismanaged only prolongs any recovery. [/QB][/QUOTE]
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