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Canis lupis robertus
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Discussion Starter · #1 ·
Buffett: Tax cuts for all but the rich - Video - Business News

Not on the middle class, but on the very richest? Go right ahead. Simple, persuasive argument, from one of the most successful financial minds in American history. (As well as a personal hero of mine.) In fact, he says maybe even lower taxes on the lower income brackets.
 

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Premium Member
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32,450 Posts
Gee, why would he ever say that? Could it possibly be because it is good for the economy? Because a large, successful middle class is the real driver of the economy? Because the higher tax rates on the wealthy in the 90's made for the most profitable decade since the 20's?

Trickle down doesn't work.

"It just isn't going to work, and it's very interesting that the man who invested this type of what I call a voodoo economic policy..." --George H.W. Bush
 

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Premium Member
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9,388 Posts
He's been saying this for a while. Sadly no one listens. :(
 

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Canis lupis robertus
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5,706 Posts
Discussion Starter · #6 ·
OH GOD! THE HORROR!

America's #1 wealthiest man, Bill Gates, also supports raising taxes on the rich?

Bill Gates backs 'rich tax' for his home town state | Mail Online

THOSE FOOLS! Don't they realize they're condemning themselves to failure and drudgery? What bastions of socialism! What opponents of the free market and capitalism!

... waitaminnit...
 

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I don't like it.
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11,071 Posts
I always find it funny when people in the lower middle class say things like "You shouldn't raise taxes in a recession..." Yes, this is true, you shouldn't raise them on people actually affected by the recession. Considering the rich are riding this recession for all it's worth, and getting richer doing it, tax the hell out of them. There is no recession if you're rich.
 

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Premium Member
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32,765 Posts
Technically, we're NOT in a recession, is the thing. Unemployment is still high, but it's beginning to look more structural than cyclical, with the problem being required skill sets have changed.

Personally, I'd rather see the reverse - taxes remain level, probably at pre-Bush levels, for all but the rich, and increase for the rich in the form of new, higher marginal brackets.
 

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Tune It Lower
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1,114 Posts
Technically, we're NOT in a recession, is the thing. Unemployment is still high, but it's beginning to look more structural than cyclical, with the problem being required skill sets have changed.
What skill sets does it want? I have a fairly diverse background and I'm still looking for work after two years?! :(

As for the O.T., I think the rich and the upper middle class need to shell out. I'd be willing to pay higher taxes if I were to get a $60k/yr job tommmrow, fo sho. :agreed:
 

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Premium Member
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What skill sets does it want? I have a fairly diverse background and I'm still looking for work after two years?! :(
Here's an article I saw in Yahoo news a couple days ago that summarizes it pretty quickly:

Unemployed find old jobs now require more skills - Yahoo! News

Additionally, some skill sets have just seen demand dry up. The housing boom up until 2007 that gave hundreds of thousands of Americans high-paying construction and contracting jobs is over and we're sitting on a glut of something like a couple million new unsold homes - those jobs won't be coming back for years, if ever. The American auto industry had previously employed a tremendous amount of unskilled, high-paid union labor, but has shrunk drastically as two of the Big Three filed Chapter 11 and one pulled through by the skin of its teeth. Even the finance industry, my drug of choice, has seen its ranks shrink sharply in the wake of the recession.

I'm not sure what you did prior to the recession, but if it was in an industry that has seen demand for its product dry up substantially after the market crash, I'd start looking for a way to leverage your abilities in a new field that hasn't been hit so hard, at least for the time being.
 

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Dream Crusher
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[action=Josh]crosses his fingers that people will need lawyers in two and a half years.[/action]
 

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Premium Member
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[action=Josh]crosses his fingers that people will need lawyers in two and a half years.[/action]
:lol:

No, wait...

:rofl:

In the end, there will be only two people left with jobs. The guy in court trying to keep his, and his lawyer.
 

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Tune It Lower
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1,114 Posts
Here's an article I saw in Yahoo news a couple days ago that summarizes it pretty quickly:

Unemployed find old jobs now require more skills - Yahoo! News

Additionally, some skill sets have just seen demand dry up. The housing boom up until 2007 that gave hundreds of thousands of Americans high-paying construction and contracting jobs is over and we're sitting on a glut of something like a couple million new unsold homes - those jobs won't be coming back for years, if ever. The American auto industry had previously employed a tremendous amount of unskilled, high-paid union labor, but has shrunk drastically as two of the Big Three filed Chapter 11 and one pulled through by the skin of its teeth. Even the finance industry, my drug of choice, has seen its ranks shrink sharply in the wake of the recession.

I'm not sure what you did prior to the recession, but if it was in an industry that has seen demand for its product dry up substantially after the market crash, I'd start looking for a way to leverage your abilities in a new field that hasn't been hit so hard, at least for the time being.
Well, Drew (or anyone who might have any insight):

I was a production manager & customer liaison for a laser manufacturing firm. The vast majority of our clients were (or is, for the guy who inherited my position) the subs who supply component parts for microelectronics research and development: i.e. Griffix for Intel, or PARC for Xerox. From what I gather, the "electronic gadget" industry is full steam ahead in most areas. :spock:

My degree is in mechanical and industrial design, which is really where I'd like to be (and eventually in product/design management)... That isn't really industry specific (a "sink fixtures are down, iPhones are up kinda thing"), or the kind of thing you see shipped overseas unless it's to an equally expensive Swedish design firm or something. I'm just not seeing many jobs pop up, and headhunters haven't brought anything my way either. :rant:

At the moment, some of my freelance work has been in providing graphic design for the web development / SEO market (and that fiddle player from Fear Factory :lol:), but graphic design is too much work for barista pay... I never wanted anything to do with it. Frankly, I'm really going to try and start drawing on unemployment, which at worse pays better than the few graphic design gigs that have come along. :shrug:
 

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Premium Member
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I suspect the problem you're running into, Variant, is that consumer demand in general is down, so spending on R&D has been slashed.

Customer liason... How difficult would it be to tweak your resume towards customer service/sales skills? I think you're going to see that side rebound before you're going to see R&D spending tick up, and that might be a way to get your foot in the door at a design firm (or, a firm in a completely different sector, strong computer skills coupled with good customer service skills could open a lot of doors anywhere from finance to customer database management or something).
 

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Premium Member
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2,232 Posts
the problem here is ....define rich.
$100,000 a year goes a lot further or shorter depending on where you live.
when the average price of an 1800 square foot home (which is not large by any means)
costs $400,00.00 in one place and $150,000.00 in another it kind of makes defining rich a little more difficult.
 

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Slow Money
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Wirelessly posted (Hivemind: Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_1 like Mac OS X; en-us) AppleWebKit/532.9 (KHTML, like Gecko) Version/4.0.5 Mobile/8B117 Safari/6531.22.7)

Generally speaking, the complaint is lack of progressive brackets well into the 7+ digit range
 
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