Elizabeth Warren on BMG - just saying stupid stuff as usual.

LOL - and David is working overtime to dismiss anyone that challenges Warren. (0.00 / 0)

EdgarTheArmenian asked

Is it true that you (Warren), too, are part of the 1%?
If so, what percent of your income do you pay in taxes?

David was on it in 13 minutes flat . . .

Missing the point, once again.
The point is that the rules as they are now do not work, and therefore should be changed...

In other words 'he's sayig don't answer that Occu-Mom.'  And now she doesn't have to.

"Paula Jones was and is trailer-trash" -SomervilleTom

http://bluemassgroup.com/2012/...

---

by: Republican Ram Rod Radio @ Tue Jan 31, 2012 at 18:49:52 PM UTC

Here is another great quote from the folks at BMG... (0.00 / 0)

Commenting on Mitt Romney's egregious action of paying the tax rate required:

The point is that Mitt Romney obeyed the law - everything he did is perfectly legal; he stole it fair and square.

So two people pay taxes - one pays at a higher rate than the other - therefore raise the rate of the one that pays less.  Why not lower the rate of the one that pays more?  

And ya know what?  As soon as the federal government raised the rate for capital gains tax then Warren Buffett would turn around and change his investment strategy, wouldn't he?  Does anyone think for a New York minute that if the federal capital gains rate were raised that Buffett would do absolutely nothing about it?  Of course not.  He would change his stratgey overnight, which is something middle class folks can't do.  That is why this Buffett rule would hurt middle class families....

If you disagree with me you are a racist homophobe.

---

by: Vote3rdpartynow @ Tue Jan 31, 2012 at 19:52:17 PM UTC

[ Parent ]

I think the point we can make is... (5.00 / 1)

Mitt Romney's 14% is still a lot more cash than my 28%.

Why are we letting the D's manage this conversation? When the percentages work their way, they use them. When the numbers favor them, they use numbers. We need to manage these debates better.

---

by: CVarley @ Tue Jan 31, 2012 at 20:23:58 PM UTC

[ Parent ]

All they know how to do. (0.00 / 0)

Just like his BFF Deval does when he walks out and proudly puffs his chest that the unemployment rate has gone down in MA over last few months, while at the same time thousands of jobs have left the state. Remember when Dems liked to crow about the "jobless recovery" during the majority of the Bush administration? Now they trumpet a recovery while we are still losing jobs!  

"The conservative premise is completely wrong. In fact, increasing tax rates on the rich and corporations would incent them to spend money to create jobs!!" - Simple J Malarkey  

---

by: Jefferson Nix @ Wed Feb 01, 2012 at 02:29:25 AM UTC

[ Parent ]

Even better... (0.00 / 0)

the notion that by playing by the rules...you're "stealing" something.

Never forget...ALL money is THEIRS....you get to keep what they GIVE you to keep.

"I acknowledge having racist and classist and sexist feelings of white male superiority." -John Howard

---

by: ElectricStrawberry @ Tue Jan 31, 2012 at 22:38:54 PM UTC

[ Parent ]

The secretary actually makes much less than that- they were playing with the percentages (0.00 / 0)

For one think her husband works (truck driver) and they have a joint return.

For another thing, I think they are looking at "total tax" which includes social security.

Regardless, it's an apples to oranges argument- wages vs dividend income or capital gains.

---

by: tomasek1000 @ Tue Jan 31, 2012 at 19:58:38 PM UTC

State and Municipal Debt (0.00 / 0)

So is Ms. Warren arguing that interest paid on municipal and state issued bonds should not be tax free to those with significant assets?  If so, who would willingly put their wealth into a security paying a lower after tax return than a corporate or other bond?  Certainly not Buffet who seeks the highest return he can.

The tax code needs to be reworked, but there are very good reasons why there are certain tax breaks in the code.  Interest received on state and municipal debt is not taxed, generally, because the states, cities and towns DO NOT have the $$$ to pay the higher rates that would be required to attract investors were the interest to be taxed.  How about someone ask Ms. Warren and others supporting the "Buffet Rule" how they would handle this situation.  Will they say that states, cities and towns will just have to pay more? Or will they say that this interest will still be tax exempt so states, cities and towns will not be "harmed"?

It sounds so good as a sound bite, but when you start to unravel what the "Buffet Rule" could mean it gets real thorny real quick.  It like the West Wing episode on "the next 10 words".  They don't have them so they will keep playing class warfare.  

---

by: ConsEph @ Tue Jan 31, 2012 at 21:04:27 PM UTC

Distortion, Much? (0.00 / 0)

"Scott Brown said in an interview that he thinks Mitt Romney and Warren Buffett should get special tax breaks that are not available to most Americans." (emphasis mine)

I looked very hard for the citation that I was certain that Liz Warren, educated and forthright person that she is, would provide to link me to the interview where Sen. Brown actually SAID that.

Alas, I did not find it.
And, as yet, none of her devotees has posted it either.

Mrs. Warren would never just make s**t up, right?

---

by: geo999 @ Tue Jan 31, 2012 at 21:58:08 PM UTC

Since when (0.00 / 0)

is it a tax break to pay the rate spelled out in law? The rate is the same for everyone. You know, it's fair. It applies to everyone. Just because these guys make most of their money from investment income now doesn't mean they're getting a special break that the rest of us aren't. My capital gains is taxed at the same rate as theirs. I just don't have as much as they do to be taxed at that rate. Seems fair to me.

(Crap, logic leaked into this post. Sorry.)

Why is President Obama's Justice Dept. running guns to Mexican drug cartels, and possibly MS-13 too?

Karl (TLC)Weld

---

by: TLCWeld @ Tue Jan 31, 2012 at 22:17:28 PM UTC

[ Parent ]

And the law forbids rich and poor alike from... (0.00 / 0)

sleeping under bridges.

You killed my only other double, I'm afraid. After his death, volunteers were understandably... rather scarce.

---

by: ErnstStavroBlofeld @ Wed Feb 01, 2012 at 04:53:43 AM UTC

[ Parent ]

So don't (0.00 / 0)

sleep under bridges.

BTW, most in MA are homeless because of drugs and/or alcohol....not because Romney only paid 15%....and not because:

The top 1% of wage earners ONLY paying 36.7% of all income taxes.
The top 5% of wage earners ONLY paying 58.7%.
The top 10% ONLY paying 70.5%.
The top 25% ONLY paying 87.3%.
The top 50% ONLY paying 97.8%.

Yet, us über-rich aren't paying enough, eh?  Not paying "our fair share"....eh?

"I acknowledge having racist and classist and sexist feelings of white male superiority." -John Howard

---

by: ElectricStrawberry @ Wed Feb 01, 2012 at 14:27:15 PM UTC

[ Parent ]

They choose to ignore (0.00 / 0)

In order for someone to invest money, they had to earn it first. Romney paid income tax when he worked in the private sector, and was paid his salary. Thus, the government already took a bite from his labor, and at a higher rate. Romney could have then stuffed what was left over in a mattress, and paid zero taxes, but he chose to invest it, and as these investments have made money, he is taxed AGAIN on what the money he was taxed on once already has grown.

Now, the progressives refuse to acknowledge this. They look only at the rate, and why Government hasn't taken even MORE of it. They want to feed an unquenchable beast that will only encourage investors to hold onto their money, and keep it out of the economy.

Any wonder why "Obamanomics? is ruining our country?

"The conservative premise is completely wrong. In fact, increasing tax rates on the rich and corporations would incent them to spend money to create jobs!!" - Simple J Malarkey  

---

by: Jefferson Nix @ Wed Feb 01, 2012 at 02:58:35 AM UTC

Cap Gains is also not indexed for inflation (5.00 / 1)

Bought a commercial building 25 years ago - sold it for twice the price - had to pay cap gains on the difference - even though inflation adjusted it was the same price.

The tax system is broken, but maybe not in the way Elizabeth Warren thinks.

Just thinking, I don't know where Elizabeth Warren's kids went to college but typically children of Professors get free tuition - shouldn't that be taxed ?  

---

by: roarkarchitect @ Wed Feb 01, 2012 at 15:40:09 PM UTC

[ Parent ]

Tax system is broken! (0.00 / 0)

Tax brackets should be adjusted based on cost of living. If you make $100k in MA and you are raising two kids that's a whole lot different than being in the same situation in Mississippi. Yet in both cases that tax brackets and thus the tax is the same.  

"Never, never, never give up" - Winston Churchill

---

by: David Whelan @ Wed Feb 01, 2012 at 15:45:56 PM UTC

[ Parent ]

Agreed (0.00 / 0)

but then again almost everything is now broken.

Borrowers rule over savers when it comes to interest rates.

Big mortgage holders have it better than people with paid off homes or small mortgages, and if you're a deadbeat you can reduce your mortgage (I know some people who have gone this route- I don't have the stomach for it, but they got their mortgages reduced by hundreds of thousands).

Government employees have it better than private sector ones.

Overspending and debt means the future is pretty much shot for our kids.

And of course the tax code is a mess.

"Son, if you want to get rich and retire early, become a cop in a Democratic state"
What I wish my father had said to me when I was a kid

---

by: tomasek1000 @ Wed Feb 01, 2012 at 20:30:39 PM UTC

[ Parent ]