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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Alighieri who wrote (711742)	4/24/2013 1:47:48 PM
From: Tenchusatsu	Read Replies (2) \| Respond to of 1571039

Al, you're jumping around from point to point in a desperate attempt to avoid having to defend yourself. All this because you can't get up in the morning without government. Tenchusatsu

To: Alighieri who wrote (711742)	4/24/2013 4:51:10 PM
From: i-node	2 Recommendations Read Replies (2) \| Respond to of 1571039

Your government at work. $100B in free money over ten years handed out as gifts to people who don't meet the statutory requirements. The EITC provisions were, in the 80s, the most abused provision of the Internal Revenue Code. So, IRS took it over and said, "Never mind. We'll figure it ourselves, so we can do it correctly." Uh-huh. "The IRS estimates that at least 21 percent of its EITC payments in 2012 were faulty. That rate showed a decline compared to the previous nine years, but improper payments over the same period increased about 22 percent, rising to at least $11.6 billion, according to the inspector general’s report." washingtonpost.com

To: Alighieri who wrote (711742)	4/25/2013 1:46:31 AM
From: Bilow	2 Recommendations Respond to of 1571039

Hi Alighieri; I think the low tax rates are not the reason the wealthy are so wealthy right now. If you look at how they make their money you'll find that it's by owning stocks. And their wealth comes from stocks that have increased drastically in value. Such stocks have never been taxed in the US, until they're sold. So the wealthy are wealthier when stocks are high priced. To some extent this correlates with low income taxes, but you'll get much higher correlation for wealth if you compare it with the stock market. Look at your graph. See the slice downwards in 1987? That was the stock market crash that year. Right now the stock market is high priced because interest rates have been driven very low and the Fed is pumping huge amounts of money into stocks. Obama's president, blame him for it if you don't like it. -- Carl