Comments on: Rebuilding our economic backbone http://blogs.reuters.com/great-debate/2013/02/11/rebuilding-our-economic-backbone/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: tmc http://blogs.reuters.com/great-debate/2013/02/11/rebuilding-our-economic-backbone/#comment-70786 Thu, 14 Feb 2013 15:44:26 +0000 http://blogs.reuters.com/great-debate/?p=17807#comment-70786 I think adjusting our tax structure as @AdamSmith just mentioned has merit. I don’t agree with the 95% figure either though. I think that has changed in this new age. Old families have far less power now than they used to. As another author on Reuters talks about, there is a new generation of wealthy coming out of the high tech industries. The trend may not last that long, but I think it has diluted the old power bases noticeably for now.

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By: SayHey http://blogs.reuters.com/great-debate/2013/02/11/rebuilding-our-economic-backbone/#comment-70754 Wed, 13 Feb 2013 15:02:37 +0000 http://blogs.reuters.com/great-debate/?p=17807#comment-70754 @AdamSmith: policy premised purely on jealousy and envy is not very admirable. While you do not define “wealthy”, the 95% figure is wildly overstated – especially if 500K is your definition.

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By: AdamSmith http://blogs.reuters.com/great-debate/2013/02/11/rebuilding-our-economic-backbone/#comment-70753 Wed, 13 Feb 2013 14:45:33 +0000 http://blogs.reuters.com/great-debate/?p=17807#comment-70753 How to pay for the infrastructure of America? Here is how:

Pay for the infrastructure with a solid estate tax, not a meaningless, watered-down, imaginary estate tax of today. Why? Consider Einsteins words.

Albert Einstein said that it’s impossible for any human to contribute more to society than they gain from society.

He said the great libraries that scientists like him utilize are filled with knowledge written by people long dead.

He said the streets we travel on, and the greatest buildings of our cities were all built by the sweat and labor of men now long dead. All these things every human benefits by today, and yet others did the labor, the work and the sacrifice.

Now, TAKE Einstein’s words, and look at financial wealth.

The vast majority of the wealthy people in the US did not earn their wealth. The wealth was passed to them by parents doling it out to them, or by inheritance. That is a fact of life that is easy to verify. How?

If one examines the property tax roll in any county in any state in America, the data clearly tells the same story: 95% of the wealthy people in America obtained their wealth from parents or by inheritance. They did NOT earn it themselves.

The sad part is, it is that 95% of the wealthy, who are NOT self made, that despise the poor and accuse the poor as being lazy, and chant that the poor are poor because they have a bad attitude.

The rich brat, a true, wasteful parasite on society who travels to Aspen, spending money lavishly, diverts our attention by pointing his finger at a poor man who spends nothing, and accuses the poor man of being a parasite on society! What will heaven say about that?

In this forum, I can only guess that it is that 95% of the wealthy – the spoiled kids who inherited money from parents, those 95% of the wealthy who are NOT self made men – who probably complain most loudly about taxes.

And they hire lobbyists and tax attorneys to minimize the estate tax.

What does America need to re-build its infrastructure?

America needs to re-instate its former estate tax, and make it a simple, powerful estate tax, of 100% of anything over $500,000. Period. Yes, a 100% estate tax.

That way, the spoiled inheritance-money wealthy, living their ritzy glitzy lives, can finally see what it feels like to be a SELF-MADE man, instead of a spoiled rich, wasteful leech, parasite on society.

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By: AJ876 http://blogs.reuters.com/great-debate/2013/02/11/rebuilding-our-economic-backbone/#comment-70751 Wed, 13 Feb 2013 05:20:35 +0000 http://blogs.reuters.com/great-debate/?p=17807#comment-70751 We’re broke!! Where’s the money gonna come from?

And also, since when does the government build all of our roads and bridges? It should be the private sector, you big leftist dummies!!

I’m sick of these keynesian leftist journalists. He probably thought the housing market was doing just fine in 2007…

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By: sarkozyrocks http://blogs.reuters.com/great-debate/2013/02/11/rebuilding-our-economic-backbone/#comment-70750 Tue, 12 Feb 2013 23:12:49 +0000 http://blogs.reuters.com/great-debate/?p=17807#comment-70750 Great…who’s going to pay for this? Do you think we can borrow some more cash from China to pay for this? Or, are they nearing the point where they cut up our national credit card? When our national credit card is chopped up by the “bond masters of the universe”, what then Ed? If this spending spree results in an inevitable credit downgrade and significant rise in our national, state, and local borrowing costs that end up collapsing our economy, will we be able to say this out-of-touch plan was George Bush’s fault?

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By: Caldreamin http://blogs.reuters.com/great-debate/2013/02/11/rebuilding-our-economic-backbone/#comment-70749 Tue, 12 Feb 2013 22:39:45 +0000 http://blogs.reuters.com/great-debate/?p=17807#comment-70749 If only this government of ours could actually direct money to real infrastructure improvements and not have it grossly diluted by political cronyism to finance yet more benefits for AFSCME and SEIU. Now their pension funds are so underwater they will need another bailout of massive proportions.

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By: rikfre http://blogs.reuters.com/great-debate/2013/02/11/rebuilding-our-economic-backbone/#comment-70748 Tue, 12 Feb 2013 21:20:12 +0000 http://blogs.reuters.com/great-debate/?p=17807#comment-70748 we would rather invest in destruction and war. I bet we are #1 in that.

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By: SayHey http://blogs.reuters.com/great-debate/2013/02/11/rebuilding-our-economic-backbone/#comment-70747 Tue, 12 Feb 2013 19:20:23 +0000 http://blogs.reuters.com/great-debate/?p=17807#comment-70747 Yes, infrastructure in this country has fallen behind. The problem is that it is too late – this should have been done during an era of prosperity – but, as a society, we decided that we preferred to use that prosperity for massive entitlement programs instead – we had to choose between building roads and bridges or paying everyone’s (inflated) medical bills. We chose.

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By: OneOfTheSheep http://blogs.reuters.com/great-debate/2013/02/11/rebuilding-our-economic-backbone/#comment-70746 Tue, 12 Feb 2013 18:57:08 +0000 http://blogs.reuters.com/great-debate/?p=17807#comment-70746 Why don’t we get all the able-bodied people our government pays to sitting home and watch TV to get busy on our infrastructure? A few reasons.

Even their kids are so fat the military doesn’t want them. They don’t belong to a union (yet), so they can’t be thus employed (Davis-Bacon). And they are so “set in their ways” that they believe that they will never have to do honest work in exchange for the money that comes to them each month. “Their man” is in the White House, and I’m afraid they may be right.

Our Congress has increasingly and repeatedly betrays American citizens by diverting the tax money that should have been prioritized for construction and maintenance of our infrastructure. So we must tolerate failing water and sewer systems, potholes inadequate highways and more and more toll roads so ever-increasing giveaways to prolific indolents can continue uninterrupted.

It’s more and more obvious that what is “good for our politicians” (votes) is NOT “good for the country and it’s taxpaying producers.

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By: tmc http://blogs.reuters.com/great-debate/2013/02/11/rebuilding-our-economic-backbone/#comment-70744 Tue, 12 Feb 2013 16:36:56 +0000 http://blogs.reuters.com/great-debate/?p=17807#comment-70744 “Thinking Boldly” to me is not trying to solve new problems with old tools. It is thinking of new tools to solve those problems. I think the Governor has pointed out the issues quite well, but I see no bold statements as to how to fix any of it. Just more “pork” bills and “refocusing”. The history of our government shows that when it “refocuses”, what actually comes into focus is not what we were looking at.

“Our nation’s leaders must think big and act boldly. Policy must be based on economics, not politics. ”

This governor IS one of our nations leaders, yet offered standard political answers to the problem.

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