Nick Hanauer - Job Creator Myth

I like this:

Nick Hanauer - YouTube (http://www.youtube.com/watch?v=bBx2Y5HhplI&feature=youtu.be)

I listened to half and the guy has no clue. He thinks business only hire when there is a need because of consumers driving them to hire. If I went by that I would have never hired more then one person in my office. I hire people to go out and drive in consumers not the other way around. He gives the example of owning only 3 cars but for the wealthy buy other things the cars.

Just one small example. I guess he does not count the thousands and thousands of jobs it takes to build and support a rich mans toys.
http://www.charterworld.com/news/wp-content/uploads/2010/12/Miami-International-Boat-Show-Marina-2010.jpg


The rich do not create all the jobs but they sure do create a punch of jobs.

that's sorta tangential FD. he's saying that having a 15% tax rate on the top 1% isn't incentivizing them to go out and create any more jobs than if they were taxed at 30%. at a certain point you don't need any more boats or houses or whatnot. By taking that extra 15%, that money could be used to pay for worker education or the like, creating more knowledge workers who'd be making more money.

ie - the gi bill after WWII - for every $1 spent, $7 came back due to the massive increase in the number of lawyers, doctors, etc.

that's sorta tangential FD. he's saying that having a 15% tax rate on the top 1% isn't incentivizing them to go out and create any more jobs than if they were taxed at 30%. at a certain point you don't need any more boats or houses or whatnot. By taking that extra 15%, that money could be used to pay for worker education or the like, creating more knowledge workers who'd be making more money.

ie - the gi bill after WWII - for every $1 spent, $7 came back due to the massive increase in the number of lawyers, doctors, etc.

So taking extra income and buying boats and homes does not create jobs anymore? The GI bill made it easier but your saying without that bill people would not have become Dr's and lawyers. Thats just not true. They would have used other means to get an education and have a successful life.

BTW: The top 1% paid a Income tax rate of 24% and if I'm correct that does not include a 4% or 8% SS tax or State Taxes. Its BS when people say the rich don't pay a fair amount in taxes they pay more then their share in taxes. Now can they afford to pay more is what should be debated.

BTW: The top 1% paid a Income tax rate of 24% and if I'm correct that does not include a 4% or 8% SS tax or State Taxes. Its BS when people say the rich don't pay a fair amount in taxes they pay more then their share in taxes. Now can they afford to pay more is what should be debated.

False.

What their code is showing they SHOULD pay, and what they did pay is two different things. Stop going by the tax code, it's not right.

Warren Buffet has already been on record as showing he had a lower tax rate than his secretary. The top 1% are hiding their assets and money in off-shore accounts to avoid taxation.

Romney has even stated he is paying 14% tax rate.

Stop with your misinformation about how the 1% is paying a 24% tax rate. Until they close all the tax loopholes, your statement is invalid and most definitely false.

False.

What their code is showing they SHOULD pay, and what they did pay is two different things. Stop going by the tax code, it's not right.

Warren Buffet has already been on record as showing he had a lower tax rate than his secretary. The top 1% are hiding their assets and money in off-shore accounts to avoid taxation.

Romney has even stated he is paying 14% tax rate.

Stop with your misinformation about how the 1% is paying a 24% tax rate. Until they close all the tax loopholes, your statement is invalid and most definitely false.

I guess you need to eat those words. A 2 min. serch would show that I'm correct. Their tax rate satrt at 33% if I'm correct.

Washington, DC, October 24, 2011--The income earned by the top 1% of Americans has declined for the second year in a row while their average tax rate has increased, according to a new Tax Foundation study (http://taxfoundation.org/publications/show/250.html). The average federal tax rate for those reporting at least $343,927 in income has increased from 22.5% in 2007 to 24.0% in 2009, while the average income for the top 1% has declined from $1.4 million to $1 million over the same period.

I guess you need to eat those words. A 2 min. serch would show that I'm correct. Their tax rate satrt at 33% if I'm correct.

Washington, DC, October 24, 2011--The income earned by the top 1% of Americans has declined for the second year in a row while their average tax rate has increased, according to a new Tax Foundation study (http://taxfoundation.org/publications/show/250.html). The average federal tax rate for those reporting at least $343,927 in income has increased from 22.5% in 2007 to 24.0% in 2009, while the average income for the top 1% has declined from $1.4 million to $1 million over the same period.



Well, if those are the numbers than so be it and I stand corrected. However, the data skewed and not really representative of the 1% we speak of. We should be talking about the .025% really or even lesser. We are talking about guys banking millions yearly, not guys with a 350k salary. A salary of 350k puts you into the top 1% bracket.

When you look at it, they are lumping Romney who's pulling in 22 million income and lumping him in the same tax bracket as the guy making 350k. Not even remotely close and it's those other people that are pulling the true numbers down to make it look like they are paying 24%. They aren't. Romney and Buffet are prime examples of those guys NOT paying 24% tax rate, and I assure you those other guys making that type of coin aren't either.

People don't have issues with the man making 350k. They DO have issues with the man making millions (and billions) and not paying a fair tax %. Romney and Buffet (and many others) should be paying a LOT more.

Well, if those are the numbers than so be it and I stand corrected. However, the data skewed and not really representative of the 1% we speak of. We should be talking about the .025% really or even lesser. We are talking about guys banking millions yearly, not guys with a 350k salary. A salary of 350k puts you into the top 1% bracket.

When you look at it, they are lumping Romney who's pulling in 22 million income and lumping him in the same tax bracket as the guy making 350k. Not even remotely close and it's those other people that are pulling the true numbers down to make it look like they are paying 24%. They aren't. Romney and Buffet are prime examples of those guys NOT paying 24% tax rate, and I assure you those other guys making that type of coin aren't either.

People don't have issues with the man making 350k. They DO have issues with the man making millions (and billions) and not paying a fair tax %. Romney and Buffet (and many others) should be paying a LOT more.

So the top 1% pay around 40% of all the federal taxes but you say that they are not paying a fair amount. What's fair? 60% of all federal taxes? The problem I have with your arguement is that you say they are not paying their fair share when the number show they are paying plenty in taxes. It would sound better if the left would say I know the top 1% allready pay a large % of the federal taxes but I feel they can afford to pay more but that deos not sell well with the the left. It has to be made into a class issue to sell the packeage top the non tax paying voters.

So the top 1% pay around 40% of all the federal taxes but you say that they are not paying a fair amount. What's fair? 60% of all federal taxes? The problem I have with your arguement is that you say they are not paying their fair share when the number show they are paying plenty in taxes. It would sound better if the left would say I know the top 1% allready pay a large % of the federal taxes but I feel they can afford to pay more but that deos not sell well with the the left. It has to be made into a class issue to sell the packeage top the non tax paying voters.

Over the past decade, the middle class people have been paying a higher % of their salary towards taxes, while guys like Romney and Buffet (and many others) have been abusing loopholes to pay a much smaller % than most of us. It's time to close those loop holes, and make them share the same burden we did.

I don't care if they are paying 95% of the taxes. What they aren't paying is the same percentage when it comes comes to middle class.

Again, lets stop using this 1% stat. This isn't about the guys making 350k who qualify as 1%, this is about the rich elite who are banking in millions and millions (even billions) and are evading taxes through loopholes. I want you to understand the difference.