Evaluation of the policies of George W. Bush and his Republican conservatives on America.
Published on February 18, 2007 By COL Gene In Politics



Today Ben Stein, a regular on Fox news, was being interviewed. He was discussing the need to begin saving early for retirement. The discussion then turned to taxes when one of the Fox Commentators’ asked Stein if it was true that about 75% of Income taxes are paid by the top 20% of the taxpayers. Mr. Stein responded that was correct. He then said that is because most of the wealth is held by the top 10% in this country. He went onto say that 90% of the securities are owned by 10% of the American population and that the top 1% owns over 50% of all securities. He then said that it is only fair that those with most of the money pay most of the taxes. He also commented that they are the only group that can afford to pay the higher taxes, without suffering adverse economic consequences, to pay for the needed services provided by the government.

After Mr. Stein’s comments there was a moment of what is called “Dead Air” and the Fox commentators then switched to a completely different topic. The truth does bite the conservatives. I know there are those that deny there is a significant disparity between the haves and the others in America. However, when 90 % of the wealth is held by 10% of the people and the remaining 10% is owned by the other 90% to deny that a great disparity exists is to deny reality!

Comments (Page 4)
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on Feb 20, 2007
IslandDog

They will care when the money we need for Social Security and Medicare is being spent on the interest that the increase in the National Debt will require!!!!!

drmiler

For a person making $1,000,000 per year I would say another $50,000 (5%) in taxes is a drop in the bucket!
on Feb 20, 2007
IslandDog

They will care when the money we need for Social Security and Medicare is being spent on the interest that the increase in the National Debt will require!!!!!

drmiler

For a person making $1,000,000 per year I would say another $50,000 (5%) in taxes is a drop in the bucket!
on Feb 20, 2007
They will care when the money we need for Social Security and Medicare is being spent on the interest that the increase in the National Debt will require!!!!!


Actually I bet they don't.  Americans are more interested in what Britany Spears does with her hair than anything else. 


For a person making $1,000,000 per year I would say another $50,000 (5%) in taxes is a drop in the bucket!


And who are you to decide that.  I notice you don't comment when a business owner tells you that he invests in hiring new workers on that money you are so quick to spend for other people.  You are a socialist, plain and simple.


on Feb 20, 2007
IslandDog

If they are faced with cuts in their Social Security or Medicare I bet you are WRONG!

You have no idea what a "Socialist is!!!!!

Returning to the tax rates that were in place in the 1990's for the wealthy has NOTHING to do with socialism! You are just another idiot that will say anything to defend BUSH AND HIS BANKRUPT POLICIES.
on Feb 20, 2007
If they are faced with cuts in their Social Security or Medicare I bet you are WRONG!


I still bet not.  America isn't obsessed with Bush or the deficit as you are.


Returning to the tax rates that were in place in the 1990's for the wealthy has NOTHING to do with socialism! You are just another idiot that will say anything to defend BUSH AND HIS BANKRUPT POLICIES.


As usual, when proven otherwise you resort to insults, and it just proves you can't handle a different viewpoint and someone calling you out on your socialist rhetoric.

You want individuals who are successful to "take care" of people who are not, that is what you are basically saying.  The tax rate in the 90's means absolutely nothing here because it's been pointed out to you the economic decline in the 90's which you refuse to acknowledge.  Keep up with the insults col, it only proves us more right.



on Feb 20, 2007
What I have said is that the distribution of wealth is skewed too fare toward one side.

That is an opinion. Not even an argument, let alone a hypothesis. Without supporting evidence that this statement is "true" (a purely subjective exercise, anyway), it's irrelevant.

You would really be much happier living in France, Gene. They understand "fair" there, I'm told.
on Feb 20, 2007
I'm thinking of a favorite Jules Feiffer line here...

"I was hostile to the middle class until I made executive level!"
on Feb 21, 2007

People are rich for a variety of reasons. Some inherit the wealth. Some create the wealth by forming companies that provide goods or services people purchase. When a person is fortunate to have wealth far in excess of the average we must look to that group to help shoulder more of the cost of society. The reality of Social Security is that most people do not and would not provide for their retirement which would just create another problem if it were eliminated it as you suggest. The fact remains Social Security and Medicare exist and people have worked their lives with the promise of receiving their benefits just as our parents and grandparents did because the baby boomers paid their taxes.

People who inherit wealth aren't paying high income taxes.

There is nothing "fortunate" about me having wealth. I have it because I created it myself through hard work, calculated risks, and building a company over the past decade.

It is not my responsibility to take care of people who don't save for a rainy day. It is morally reprehensible to me that our government should steal from me and my family and my co-workers to give it to someone who has done nothing to earn it.


No matter how many excuses you provide we must balance the federal budget and repay the debt.

I've given no excuses at all. I've explained very clearly why we have the debt. Our tax receipts have increased but our spending has increased faster. Raising taxes does nothing to stop this because the same people who don't balance a budget now won't balance a budget with more money, they'll just spend more.

You do know that the definition of insanity is someone who keeps doing the same thing expecting a different result right? Giving people who spend everything they get and then some even more money and expecting them to suddenly live within their means is insane.

I have two degrees in Business and spent 35 years successfully operating the business functions of profit and non profit organizations. We simply can not afford the tax cuts that Bush passed.

You just ignored everything I wrote in my rather lengthy and thoroughly researched post to essentially close your eyes and ears and repeat your meaningless insistance.

 The Comptroller General has documented that the NEW revenue from the so called supply side investments resulting from the tax cuts to the wealthy have produced only 1/2 the lost revenue from the tax cuts. In other words we cut taxes and only saw 1/2 of that revenue loss in the form of new tax revenue from the increased tax from the supply side investments. As Bush 41 said, it is Voodoo Economics. It did not work when Regan tried it and it has not worked when Bush tried it. Time for a new policy. BALANCE the Federal Budget and pay down the debt!

What a bunch of nonsense. Look at the graphs. They're quite simple. The government is getting as much money today as it was in 2000 -- when we had a surplus. Yet we have a deficit. Why is that? Because we increased spending much faster.

on Feb 21, 2007

from each according to his ability, to each according to his need.

Gene is literally a character from Atlas Shrugged.

on Feb 21, 2007

For a person making $1,000,000 per year I would say another $50,000 (5%) in taxes is a drop in the bucket!

So which employee should I fire? Would you like to choose who it is? $50k is the cost of an employee.

Again Gene: What exactly do you think "the rich" do with all that money? They reinvest it. In my case, I invest it in my business which in turn hires people who in turn pay taxes while producing things that generate more income which produces even more taxes.

on Feb 21, 2007
Daiwa

No what I want is an America that reflects the will of the majority not just what the wealthy consider proper.
on Feb 21, 2007
Frogboy

You would not have to FIRE anyone. The truth is that a person making $1,000,000 could afford the added tax with no adverse impact on them or their family and they do not need to fire anyone. Only the Greed of wanting that added $50,000 they DO NOT NEED would cause them to fire someone.

Some of the money the rich have is reinvested in new production. The problem is that that new investment is only replacing 1/2 the lost revenue from the tax cuts. The Comptroller General of the U.S. had documented that fact. That is the old supply side Voodoo economics of Reagan that Bush repeated with the very same result--- creation of Trillions of dollars of ADDED DEBT!
on Feb 21, 2007
Gene, you don't need a computer or internet access...so please turn your pc into the first governmental building you come across...and please, whatever a month you pay for internet access...please send that check to the government, so that they can redistribute that money to those who won't earn it.

on Feb 21, 2007
No what I want is an America that reflects the will of the majority not just what the wealthy consider proper.


What a liar you are! The majority of the people voted for and elected President Bush and a Republican majority yet the minority saw fit to attack and hinder the war on terror, the repair of our economy, better educate our children, and tons of other things the “majority” wanted to do. Now that the liberals have a slim majority in congress you want the conservatives to roll over and play dead. The President is in charge yet he has been held back by the minority. The polls show the majority of the American people want the war to end by winning it not by running away. The liberals did this during the war in Vietnam a war they started and when a Republican was elected to end the war they did every thing they could to stop him. The results were a big lost of respect around the world. Our military was demoralized, the nation was handed its first military defeat in our history. The liberals cheered this. Our enemies felt emboldened and the terrorist began their attacks upon what they perceived as a weak nation that continues today. Now after President Reagan the nation felt strong again our enemies backed off a while and we gained respect again. Now the liberals including col political hack wants to start the cycle all over again. Liberals seem to like being hated and disrespected around the world. What a worthless piece of dirt you are col. To take pleasure in our defeat, to use the deaths of our military as reason to surrender to the enemy. I have no respect for you gene. You have spend months fighting the majority you say you want us to respect. During the years the Republicans were in the majority did you respect them?
on Feb 21, 2007
Better look at November 2006. The majority no longer support Bush or the GOP!

The War in Iraq was a basic error as Baker and Powell warned. We have enabled the various elements that hate each other in Iraq to start a Civil War which we can not win. It is not the Liberals, the press or anyone but GWB. He sold a war that has failed and has made America LESS safe.
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