OT – Joe the Plumber

[Ozzie]

This “redistribution of wealth” is called a progressive tax and is what nearly every free market country in the world uses. The more you make the more you contribute on both an absolute and percentage basis. It’s pretty simple stuff and you only pay more on the marginal rate so if you make $300k you are paying 3% more on that last $50k or $1500 per year. Wow, that’s such a drastic redistribution of wealth! And since you’re also probably fully funding your 401k and maybe some pretax insurance it’s not even that much.

Here’s how Adam Smith (who is known as the founder of free market economcis) described a progessive tax in Wealth of Nations:

The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. A tax upon house-rents, therefore, would in general fall heaviest upon the rich; and in this sort of inequality there would not, perhaps, be anything very unreasonable. It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.

The phrase “redistribution of wealth” is yet another GOP talking point that gets the loon base all fired up, but it’s what we have all lived with in our lifetimes.

[TheBreeze]

[quote=asianautica]TheBreeze, please stop with the false information of $10T. Unless you consider people on welfare, students, veterans, people who got helped because of the hurricanes, etc. are the richest folks.

BTW, you can thank the Democrats congress for passing the $850B bailouts recently. They’re the majority who voted for the bailouts.[/quote]

Fannie and Freddie ~ $5 trillion
reflation injection into 9 biggest banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion
reflation injection into regional banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion

That gets us to $10 trillion right there and was done unilaterally by the Bush administration.

Then you have
-$30 billion Bear Stearns bailout
-$125 billion AIG bailout replete with 1/2 million dollar weekend boondoggle
-Rolling $850 billion No Banker Left Behind Act

You’re right. It looks like we are closer to an $11 trillion bailout for the super-rich. My bad.

Thank God none of that bailout money went to reduced price lunches for poor children. Could you imagine the uproar from you and other faux conservatives if any of the bailout money had went directly to poor folks? I shudder to think of the backlash.

[TheBreeze]

[quote=asianautica]TheBreeze, please stop with the false information of $10T. Unless you consider people on welfare, students, veterans, people who got helped because of the hurricanes, etc. are the richest folks.

BTW, you can thank the Democrats congress for passing the $850B bailouts recently. They’re the majority who voted for the bailouts.[/quote]

Fannie and Freddie ~ $5 trillion
reflation injection into 9 biggest banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion
reflation injection into regional banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion

That gets us to $10 trillion right there and was done unilaterally by the Bush administration.

Then you have
-$30 billion Bear Stearns bailout
-$125 billion AIG bailout replete with 1/2 million dollar weekend boondoggle
-Rolling $850 billion No Banker Left Behind Act

You’re right. It looks like we are closer to an $11 trillion bailout for the super-rich. My bad.

Thank God none of that bailout money went to reduced price lunches for poor children. Could you imagine the uproar from you and other faux conservatives if any of the bailout money had went directly to poor folks? I shudder to think of the backlash.

[TheBreeze]

[quote=asianautica]TheBreeze, please stop with the false information of $10T. Unless you consider people on welfare, students, veterans, people who got helped because of the hurricanes, etc. are the richest folks.

BTW, you can thank the Democrats congress for passing the $850B bailouts recently. They’re the majority who voted for the bailouts.[/quote]

Fannie and Freddie ~ $5 trillion
reflation injection into 9 biggest banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion
reflation injection into regional banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion

That gets us to $10 trillion right there and was done unilaterally by the Bush administration.

Then you have
-$30 billion Bear Stearns bailout
-$125 billion AIG bailout replete with 1/2 million dollar weekend boondoggle
-Rolling $850 billion No Banker Left Behind Act

You’re right. It looks like we are closer to an $11 trillion bailout for the super-rich. My bad.

Thank God none of that bailout money went to reduced price lunches for poor children. Could you imagine the uproar from you and other faux conservatives if any of the bailout money had went directly to poor folks? I shudder to think of the backlash.

[TheBreeze]

[quote=asianautica]TheBreeze, please stop with the false information of $10T. Unless you consider people on welfare, students, veterans, people who got helped because of the hurricanes, etc. are the richest folks.

BTW, you can thank the Democrats congress for passing the $850B bailouts recently. They’re the majority who voted for the bailouts.[/quote]

Fannie and Freddie ~ $5 trillion
reflation injection into 9 biggest banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion
reflation injection into regional banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion

That gets us to $10 trillion right there and was done unilaterally by the Bush administration.

Then you have
-$30 billion Bear Stearns bailout
-$125 billion AIG bailout replete with 1/2 million dollar weekend boondoggle
-Rolling $850 billion No Banker Left Behind Act

You’re right. It looks like we are closer to an $11 trillion bailout for the super-rich. My bad.

Thank God none of that bailout money went to reduced price lunches for poor children. Could you imagine the uproar from you and other faux conservatives if any of the bailout money had went directly to poor folks? I shudder to think of the backlash.

[TheBreeze]

[quote=asianautica]TheBreeze, please stop with the false information of $10T. Unless you consider people on welfare, students, veterans, people who got helped because of the hurricanes, etc. are the richest folks.

BTW, you can thank the Democrats congress for passing the $850B bailouts recently. They’re the majority who voted for the bailouts.[/quote]

Fannie and Freddie ~ $5 trillion
reflation injection into 9 biggest banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion
reflation injection into regional banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion

That gets us to $10 trillion right there and was done unilaterally by the Bush administration.

Then you have
-$30 billion Bear Stearns bailout
-$125 billion AIG bailout replete with 1/2 million dollar weekend boondoggle
-Rolling $850 billion No Banker Left Behind Act

You’re right. It looks like we are closer to an $11 trillion bailout for the super-rich. My bad.

Thank God none of that bailout money went to reduced price lunches for poor children. Could you imagine the uproar from you and other faux conservatives if any of the bailout money had went directly to poor folks? I shudder to think of the backlash.

[an]

[quote=TheBreeze]
Fannie and Freddie ~ $5 trillion
reflation injection into 9 biggest banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion
reflation injection into regional banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion

That gets us to $10 trillion right there and was done unilaterally by the Bush administration.

Then you have
-$30 billion Bear Stearns bailout
-$125 billion AIG bailout replete with 1/2 million dollar weekend boondoggle
-Rolling $850 billion No Banker Left Behind Act

You’re right. It looks like we are closer to an $11 trillion bailout for the super-rich. My bad.

Thank God none of that bailout money went to reduced price lunches for poor children. Could you imagine the uproar from you and other faux conservatives if any of the bailout money had went directly to poor folks? I shudder to think of the backlash.
[/quote]
Let me get this straight, you claim yourself to be a Democrat, but you hate the bailouts that majority of the Democrats in congress support. You’re one confused cookie. You speak very loud against bailouts, but then you’re voting for the guys who voted for the bailouts. At least my action follow my words and will be voting for Barr.

[an]

[quote=TheBreeze]
Fannie and Freddie ~ $5 trillion
reflation injection into 9 biggest banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion
reflation injection into regional banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion

That gets us to $10 trillion right there and was done unilaterally by the Bush administration.

Then you have
-$30 billion Bear Stearns bailout
-$125 billion AIG bailout replete with 1/2 million dollar weekend boondoggle
-Rolling $850 billion No Banker Left Behind Act

You’re right. It looks like we are closer to an $11 trillion bailout for the super-rich. My bad.

Thank God none of that bailout money went to reduced price lunches for poor children. Could you imagine the uproar from you and other faux conservatives if any of the bailout money had went directly to poor folks? I shudder to think of the backlash.
[/quote]
Let me get this straight, you claim yourself to be a Democrat, but you hate the bailouts that majority of the Democrats in congress support. You’re one confused cookie. You speak very loud against bailouts, but then you’re voting for the guys who voted for the bailouts. At least my action follow my words and will be voting for Barr.

[an]

[quote=TheBreeze]
Fannie and Freddie ~ $5 trillion
reflation injection into 9 biggest banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion
reflation injection into regional banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion

That gets us to $10 trillion right there and was done unilaterally by the Bush administration.

Then you have
-$30 billion Bear Stearns bailout
-$125 billion AIG bailout replete with 1/2 million dollar weekend boondoggle
-Rolling $850 billion No Banker Left Behind Act

You’re right. It looks like we are closer to an $11 trillion bailout for the super-rich. My bad.

Thank God none of that bailout money went to reduced price lunches for poor children. Could you imagine the uproar from you and other faux conservatives if any of the bailout money had went directly to poor folks? I shudder to think of the backlash.
[/quote]
Let me get this straight, you claim yourself to be a Democrat, but you hate the bailouts that majority of the Democrats in congress support. You’re one confused cookie. You speak very loud against bailouts, but then you’re voting for the guys who voted for the bailouts. At least my action follow my words and will be voting for Barr.

[an]

[quote=TheBreeze]
Fannie and Freddie ~ $5 trillion
reflation injection into 9 biggest banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion
reflation injection into regional banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion

That gets us to $10 trillion right there and was done unilaterally by the Bush administration.

Then you have
-$30 billion Bear Stearns bailout
-$125 billion AIG bailout replete with 1/2 million dollar weekend boondoggle
-Rolling $850 billion No Banker Left Behind Act

You’re right. It looks like we are closer to an $11 trillion bailout for the super-rich. My bad.

Thank God none of that bailout money went to reduced price lunches for poor children. Could you imagine the uproar from you and other faux conservatives if any of the bailout money had went directly to poor folks? I shudder to think of the backlash.
[/quote]
Let me get this straight, you claim yourself to be a Democrat, but you hate the bailouts that majority of the Democrats in congress support. You’re one confused cookie. You speak very loud against bailouts, but then you’re voting for the guys who voted for the bailouts. At least my action follow my words and will be voting for Barr.

[an]

[quote=TheBreeze]
Fannie and Freddie ~ $5 trillion
reflation injection into 9 biggest banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion
reflation injection into regional banks ~ $250 billion which after 10:1 leverage allowed by the Fed = $2.5 trillion

That gets us to $10 trillion right there and was done unilaterally by the Bush administration.

Then you have
-$30 billion Bear Stearns bailout
-$125 billion AIG bailout replete with 1/2 million dollar weekend boondoggle
-Rolling $850 billion No Banker Left Behind Act

You’re right. It looks like we are closer to an $11 trillion bailout for the super-rich. My bad.

Thank God none of that bailout money went to reduced price lunches for poor children. Could you imagine the uproar from you and other faux conservatives if any of the bailout money had went directly to poor folks? I shudder to think of the backlash.
[/quote]
Let me get this straight, you claim yourself to be a Democrat, but you hate the bailouts that majority of the Democrats in congress support. You’re one confused cookie. You speak very loud against bailouts, but then you’re voting for the guys who voted for the bailouts. At least my action follow my words and will be voting for Barr.

[meadandale]

[quote=TheBreeze]
Fannie and Freddie ~ $5 trillion
[/quote]

Too bad that half of your $10 trillion figure is for two GSE’s that the evil Republican’s have been trying to regulate for at least 8 years. Your beloved Democratic caretakers resisted additional regulations (and even denied there was a problem) as recently as 2006.

Whose policies are we vilifying again?

Yeah, don’t let the truth get in the way of your story.

[meadandale]

[quote=TheBreeze]
Fannie and Freddie ~ $5 trillion
[/quote]

Too bad that half of your $10 trillion figure is for two GSE’s that the evil Republican’s have been trying to regulate for at least 8 years. Your beloved Democratic caretakers resisted additional regulations (and even denied there was a problem) as recently as 2006.

Whose policies are we vilifying again?

Yeah, don’t let the truth get in the way of your story.

[meadandale]

[quote=TheBreeze]
Fannie and Freddie ~ $5 trillion
[/quote]

Too bad that half of your $10 trillion figure is for two GSE’s that the evil Republican’s have been trying to regulate for at least 8 years. Your beloved Democratic caretakers resisted additional regulations (and even denied there was a problem) as recently as 2006.

Whose policies are we vilifying again?

Yeah, don’t let the truth get in the way of your story.

[meadandale]

[quote=TheBreeze]
Fannie and Freddie ~ $5 trillion
[/quote]

Too bad that half of your $10 trillion figure is for two GSE’s that the evil Republican’s have been trying to regulate for at least 8 years. Your beloved Democratic caretakers resisted additional regulations (and even denied there was a problem) as recently as 2006.

Whose policies are we vilifying again?

Yeah, don’t let the truth get in the way of your story.

[Author]

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