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Redistribution (sm)

Posted By: of wealth on 2008-10-26
In Reply to:

Today on my way to lunch I passed a homeless guy with a sign that read "Vote Obama, I need the money." I laughed.

Once in the restaurant my server had on a "Obama 08" tie, again I laughed as he had given away his political preference--just imagine the coincidence.

When the bill came I decided not to tip the server and explained to him that I was exploring the Obama redistribution of wealth concept. He stood there in disbelief while I told him that I was going to redistribute his tip to someone who I deemed more in need--the homeless guy outside. The server angrily stormed from my sight.

I went outside, gave the homeless guy $10 and told him to thank the server inside as I've decided he could use the money more. The homeless guy was grateful.

At the end of my rather unscientific redistribution experiment I realized the homeless guy was grateful for the money he did not earn, but the waiter was pretty angry that I gave away the money he did earn even though the actual recipient deserved money more.

I guess redistribution of wealth is an easier thing to swallow in concept than in practical application.



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against wealth redistribution

I am fatigued with more and more of my paycheck going to the stockholders of the company I work for.  My benefits are being taken away, my line count has been "adjusted" several times in the last 10 years to make more profit for the stockholders. Meanwhile, the suits are given astronomical salaries and golden parachutes. 


Second issue.  It is very important to remember that the 3 remaining judges on the Supreme Court who are not conservative will be leaving very soon.  The pres who appoints their replacements will be impacting the nation for the next 30 to 40 years or so.  Think about it.   Can you imagine your 15-year-old granddaughter or great-granddaughter being forced to give birth to a horribly deformed baby because she made a  mistake?  Roe v Wade WILL be overturned if McCain is elected.  The court will be totally pro-corporate interests if mcCain is elected.  This is a much getter consequence that is not getting enough consideration amidst all the slogan throwing.


 


 


I don't really think a redistribution of the wealth
is the answer and don't necessarily agree with it either. What I would like to see though are these corporations, and individuals, that don't fairly pay taxes start paying what they are supposed to. They hide their money in off-shore accounts and redistribute it so they don't have to pay so much. I know that this happens, I started out in accounting in college and we had big long discussions about this. But I didn't have to have a class to know that this happens.
Too bad that redistribution of wealth
won't benefit most of us.....it will benefit the low income people who want to mooch off of the government.  Besides, I still says that the middle class is fair game to Obama.  He will raise our taxes too....you just wait.
Redistribution of wealth...
"Today on my way to lunch I passed a homeless guy with a sign that read "Vote Obama, I need the money." I laughed. Once in the restaurant my server had on a "Obama 08" tie, again I laughed as he had given away his political preference--just imagine the coincidence.

When the bill came I decided not to tip the server and explained to him that I was exploring the Obama redistribution of wealth concept. He stood there in disbelief while I told him that I was going to redistribute his tip to someone who I deemed more in need--the homeless guy outside. The server angrily stormed from my sight.

I went outside, gave the homeless guy $10 and told him to thank the server inside as I've decided he could use the money more. The homeless guy was grateful.

At the end of my rather unscientific redistribution experiment I realized the hom eless guy was grateful for the money he did not earn, but the waiter was pretty angry that I gave away the money he did earn even though the actual recipient deserved money more.

I guess redistribution of wealth is an easier thing to swallow in concept than in practical application."


Redistribution of Wealth

Redistribution of wealth is happening as I write this, except that it's all going to make greedy rich people richer.  Up to a trillion dollars now (and probably growing in the future), the Wall Street crooks are still earning their bonuses.


Why is it okay to redistribute the wealth to the WEALTHIEST while punishing people who are working hard and HONESTLY, just trying to feed their families?


The middle class has been diminishing in this country for a long time now, and it's almost extinct.  I'll never understand why people support rewarding those who are dishonest.


Redistribution of wealth...another way of saying
reparations, just not as blatant.
Redistribution of YOUR Wealth
Obama and Congress will let the Bush tax cuts expire in 2010. That will cost each of us MTs about $1,200 or so a year. He is proposing 3 new separte payroll taxes (new separate deductions) including his own bill now in Congress to "fight WORLD hunger." Sounds nice, but I would rather fight hunger at my house. If you think you are going to get a bunch of free stuff in return for all these new taxes, think again - that stuff will all evaporate after the election but the tax increases will remain, just like with Clinton. I heard last night that 57% of Americans think Republicans now control Congress - and these morons vote - scary.
He is already promising redistribution of wealth and he ...
doesn't even have the job yet. That is not a lie. He has campaign commercials about it and he is Barack Obama and he approved that message. Have you read anything about his voting history and the people he has associated with most of his adult life? Of course he is socialist. Way left socialist.

I never said Democrats were socialists. I did say Hillary Clinton was one, and Obama is to the left of her on that particular issue.

You think calling someone a socialist is name calling?
Exactly. It is income redistribution, even though he denies it...
and that does not work. Stirring up class warfare does not work. And that $200,000 puts small businesses' necks on the block. Because many S corporations and other small businesses pay the personal tax, not the business tax. He will effectively kill them and jobs will be lost and even MORE people added to the lower bracket. Do people really not see the socialist implications here?
Over generalization....socialism is redistribution
xx
About all that redistribution of wealth silliness
That would be $1200 to nearly every Alaskan in addition to their already existing $2000 annual rebate. In a nutshell, Palin levied a windfall profit tax against oil companies, then will pay a portion of the revenues out as bonus checks to residents.

One might even suggest that, since Alaska has no state income tax, this was a almost straight redistribution of wealth using higher taxes on the oil companies to redistribute wealth to individuals. It's almost...socialist. Go Gov. Palin!!!
Correct. The *redistribution of wealth* is just that...

those who have gotten their piece of the American Dream are forced to give to those who can't/don't/won't achieve their own American Dream. We are on the way sheeple, wake up and do research, don't take leftist talking points as truth.


I think not. both related to redistribution of wealth...nm

An argument for redistribution of wealth

http://www.taxpolicycenter.org/briefing-book/background/numbers/revenue.cfm


FY 2007


Total tax revenues for FY 2007 are composed of:


1.     Individual income tax                  45%. 


Included in individual income tax category are capital gains taxes, which make up between 4% and 7% of individual income tax revenues and between 2% and 3% of total tax revenues within this category.


2.     Payroll taxes                               35%


Social insurance (Social Security).  Funds used to pay for Federal Old-Age, Survivors, and Disability Insurance, Unemployment Insurance, Temporary Assistance to Needy Families, Medicare/Medicaid, State Children's Health Insurance Program (SCHIP)


Supplemental Security Income (SSI).   Individual's share of this is 17.5%.  


3.     Corporate Income Tax                 15%


4.     Excise Tax                                    3%. 


Essentially a consumer tax on alcohol, cigarettes and gas. 


5.     "Other"                                          2%


 


So, individuals' share of total tax revenues amounts to approximately 65.5%, employers 17.5% and corporations 15% plus the mysterious "other" of 2%.    


 


If you go to the above link and scroll down about halfway, you will find a nifty little chart that shows how much the share corporations paid into total tax revenues has diminshed since 1950.  For example, an early 50s spike on the graph show corporations' share to be approximately 30+%...TWICE AS MUCH AS IT IS NOW.   


 


A couple of other points of interest: 


http://www.sba.gov/ADVO/laws/statement07_0309.html


"…tax compliance costs employers with less than 20 employees a total of $1304 per employee as compared to employers with 500 or more employees which incur $780 per employee to comply with Federal taxes.(6) Put another way, small entities pay 40% more for tax compliance than employers with 500 or more employees.


 


http://www.cbpp.org/8-9-05bud.htm


Center on Budget and Policy Priorities – How Robust was 2001-2007 Economic Expansion?  Figures 1 and 2 will indicate the following information:


 


Based on the 7 economic indicators, Bush years turned in below average growth percentages in every single indicator except for one….CORPORATE PROFITS.  The biggest losers….employment (JOBS) and wages and salaries (PAYCHECKS).   To make this dry economic data a little bit spicier, 2 comparisons have been shown…Bush years against Post WWII averages and Bush years as compared to the 90s decade.  I have run averages on the trough and peak growth comparison data depicted in Figure 2 to come up with the following overall percentages.  Pay special attention to the last 3 items. 


 


1.     Gross Domestic Product (GDP) down 31% from Post WWII average and down 12.85% from the 90s


2.     Consumption down 23.45% from Post WWII average and down 6.25% from the 90s   


3.     Non-residential fixed investment down 40% from Post WWII average and down 58% from the 90s 


4.     Net worth down 16.25% from Post WWII average and down 20.1% from the 90s 


5.     Wages and salaries (PAYCHECKS) down a whopping 55.6% from Post WWII average and down an impressive 40.55% from the 90s


6.     Employment (JOBS) down an amazing 68.65% from Post WWII average and down an impressive 46.65% from the 90s


7.     Corporate profits up 200% above post WWII average and up 126% from the 90s.    


                                  


From where I sit, there is clearly something wrong with this picture.  I will be voting for the candidate who shares this view and plans to restore a more balanced, equitable and FAIR distribution of wealth.  This is not about shifting bucks from one person to another.  This is about corporations whose butts are being bailed out right and left by us Joe Shmoes shouldering more fiscal responsibility toward their shareholders AND toward John Q. Public.  


What pat of redistribution of wealth do you not understand?
THAT is socialism and THAT is what he wants to do. Said so himself. Remember spreading the wealth? C'mon. Admit it. He's a socialist. Fair tax cuts go to EVERYONE. Not the rich to redistribute to those who do not even PAY taxes. THAT is socialism.
He's not lying about redistribution of wealth...
unfortunately. He is wholly committed to that one.
Obama's redistribution of wealth
I challenge all of you who are making such a big deal about Obama's plan for "redistribution of wealth" to do a little research.  Then come back and talk about it.  It's a matter of where the distribution is to go.  Republicans want it to go to the top i.e. Reagan's "trickle down economics"  and the institution of the earned income tax credit goes to him as well.  Tell me, who has benefited?  Maybe it's about time we go back to trickle up economics....sorta like FDR's "chicken in every pot."  Ya thank????
"income redistribution" is just a fancy term for
nm
Spread the wealth, redistribution of income...that is the big O's
plan...AKA I'll give to those who don't deserve it by taking it from those who have worked hard to get it. O wants to take the hard earned money from many Americans and then HE will decide who he gives it to. Sounds a bit like socialism to me. Just where is he going to get the money for all the programs he wants to GIVE to us?  Oh, and remember the words of Biden, it's patriotic to pay taxes. So what does that make the 40% of Americans who DON'T pay taxes?
Redistribution of wealth American style.

http://www.taxpolicycenter.org/briefing-book/background/numbers/revenue.cfm


Total tax revenues for FY 2007 are composed of:


1.     Individual income tax 45% of tax revenues.  Included in individual income tax category are capital gains taxes, which make up between 4% and 7% of individual income tax revenues and between 2% and 3% of total tax revenues within this category.


2.     Payroll taxes 35% of tax revenues.  Social insurance (Social Security).  Funds used to pay for Federal old age, survivors, disability insurance, unemployment insurance, temporary assistance to needed families, Medicare/Medicaid, State Children's Health Insurance Program (SCHIP) and Supplemental Security Income (SSI).  Employee's share of this is 17.5%.


3.     Corporate Income Tax 15% of total tax revenues. 


4.     Excise Tax 3% of total tax revenues.  Essentially a consumer tax on alcohol, cigarettes and gas.


5.     "Other"  2%


So, individuals' share of total tax revenues amounts to approximately 65.5%, employers 17.5% and corporations 15% plus the mysterious "other" of 2%.    If you go to the above link and scroll down about halfway, you will find a nifty little chart that shows how much the share corporations paid into total tax revenues has diminshed since 1950.  For example, an early 50s spike on the graph show corporations' share to be approximately 30+%...TWICE AS MUCH AS IT IS NOW.


http://www.sba.gov/ADVO/laws/statement07_0309.html


"…tax compliance costs employers with less than 20 employees a total of $1304 per employee as compared to employers with 500 or more employees which incur $780 per employee to comply with Federal taxes.  Small entities pay 40% more for tax compliance than employers with 500 or more employees.


http://www.cbpp.org/8-9-05bud.htm


Center on Budget and Policy Priorities – How Robust was 2001-2007 Economic Expansion?  Figures 1 and 2 will indicate the following information:  Based on the 7 economic indicators, Bush years turned in below average growth percentages in every single indicator except for one….CORPORATE PROFITS.  The biggest losers….employment (JOBS) and wages and salaries (PAYCHECKS).   To make this dry economic data a little bit spicier, 2 comparisons have been shown…Bush years against Post WWII averages and Bush years as compared to the 90s decade.  I have run averages on the trough and peak growth comparison data depicted in Figure 2 to come up with the following overall percentages.  Pay special attention to the last 3 items.


1.     Gross Domestic Product (GDP) down 31% from Post WWII average and down 12.85% from the 90s


2.     Consumption down 23.45% from Post WWII average and down 6.25% from the 90s


3.     Non-residential fixed investment down 40% from Post WWII average and down 58% from the 90s 


4.     Net worth down 16.25% from Post WWII average and down 20.1% from the 90s 


5.     Wages and salaries (PAYCHECKS) down a whopping 55.6% from Post WWII average and down an impressive 40.55% from the 90s


6.     Employment (JOBS) down an amazing 68.65% from Post WWII average and down an impressive 46.65% from the 90s


7.     Corporate profits up 200% above post WWII average and up 126% from the 90s. 


From where I sit, there is clearly something wrong with this picture.  I will be voting for the candidate who shares this view and plans to restore a more balanced, equitable and FAIR distribution of wealth.  This is not about shifting bucks from one person to another.  This is about corporations whose butts are being bailed out right and left by us Joe Shmoes shouldering more fiscal responsibility toward their shareholders AND toward John Q. Public.


Redistribution of wealth is a basic socialism tenet...
and it is part of his platform. He leans very hard in the direction of government run health care...alnother socialism tenet. He used and taught the Alinsky method of organizing...hard left Marxist theory. Not overgeneralization. He went to a church preaching black liberation theology for 20 years....major Marxist overtones and "economic parity" part of that theology. If it waddles like a duck and quacks like a duck, chances are it's a duck. And if you look at his associations throughout his career...common thread there. And for me, that is concerning. And yet another reason I am not voting for him. He is no change from any of the hard left liberals before him, except in one key area...he is harder left than any of them, if you look only at his voting record. He's not the guy for the job as far as I am concerned.
Does corporate welfare qualify as wealth redistribution
nm
Obama talking about redistribution of wealth in 2001...

http://michellemalkin.com/2008/10/26/obama-in-2001-how-to-bring-about-redistributive-change/


Before discounting this because it is on a conservative site....the You Tube tape is there...you can hear "O" in his own words.


Hope is not a dirty word....redistribution of wealth is,
in my books. Have you looked at the church he belonged to for 20 years? Divisive is a MILD way to describe it. He has no interest in uniting us. He has interest in forcing his view of how society should run down all our throats. I do not call that bringing unity. His whole life has been influenced by Marxists. That is how he wants to "unify" us. I am sure Cubans heard these same stories from Che Guevara and loved him just as much. And look how it turned out for them. Not great, not even the way Che wanted. He was off to Bolivia when he found out it wasn't going the way he hoped. The next socalist always thinks he will get it "right." And you know what? Those who do not learn from their mistakes are doomed to repeat them...I just hope America is not the next failed socialist state. There is MY "HOPE."