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	<title>Comments on: Taxing the Rich Will Make Them Go Galt! Um, No</title>
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	<link>http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/</link>
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		<title>By: torgo2009</title>
		<link>http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1937252</link>
		<dc:creator>torgo2009</dc:creator>
		<pubDate>Fri, 17 Jul 2009 13:08:41 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1937252</guid>
		<description>&lt;p&gt;I like removing the breaks for debt and therefore discourage over leveraging.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>I like removing the breaks for debt and therefore discourage over leveraging.</p>
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		<title>By: torgo2009</title>
		<link>http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1937249</link>
		<dc:creator>torgo2009</dc:creator>
		<pubDate>Fri, 17 Jul 2009 13:05:33 +0000</pubDate>
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		<description>&lt;p&gt;PS-People in the bottom 50% of income pay only 3% of income taxes.  That is a national disgrace.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>PS-People in the bottom 50% of income pay only 3% of income taxes.  That is a national disgrace.</p>
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		<title>By: torgo2009</title>
		<link>http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1937247</link>
		<dc:creator>torgo2009</dc:creator>
		<pubDate>Fri, 17 Jul 2009 13:04:03 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1937247</guid>
		<description>&lt;p&gt;Look folks the rich don’t just have more money than you do, they have more brains…and common sense.  Do you really want to run them off?  Not a good idea.&lt;br /&gt;
The rich create the jobs and the prosperity.  Some of that prosperity trickles down to the rest of us.  It’s worked perfectly for years now.&lt;br /&gt;
Instead of bashing the rich we should give them VIP treatment…except maybe for Paris Hilton.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Look folks the rich don’t just have more money than you do, they have more brains…and common sense.  Do you really want to run them off?  Not a good idea.<br />
The rich create the jobs and the prosperity.  Some of that prosperity trickles down to the rest of us.  It’s worked perfectly for years now.<br />
Instead of bashing the rich we should give them VIP treatment…except maybe for Paris Hilton.</p>
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		<title>By: texasaggie</title>
		<link>http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1937017</link>
		<dc:creator>texasaggie</dc:creator>
		<pubDate>Fri, 17 Jul 2009 04:31:35 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1937017</guid>
		<description>&lt;p&gt;We keep hearing about how much the rich get in income, but no one has ever asked whether they do anything for the economy that even remotely comes near what they take out.  In every case that I’ve seen the people getting the biggest bucks do it through the exercise of power, not through benefiting the economy.  This is a point that should be made so that even if they do go Galt (if only), the economy won’t be hurt because they aren’t doing anything for it to start with.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>We keep hearing about how much the rich get in income, but no one has ever asked whether they do anything for the economy that even remotely comes near what they take out.  In every case that I’ve seen the people getting the biggest bucks do it through the exercise of power, not through benefiting the economy.  This is a point that should be made so that even if they do go Galt (if only), the economy won’t be hurt because they aren’t doing anything for it to start with.</p>
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		<title>By: MarkH</title>
		<link>http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1936925</link>
		<dc:creator>MarkH</dc:creator>
		<pubDate>Fri, 17 Jul 2009 03:14:23 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1936925</guid>
		<description>&lt;p&gt;There needs to be a balance or kind of dynamic stability.&lt;/p&gt;
&lt;p&gt;Right now companies don’t want to hire because they don’t know they can sell their products. That kills their stock value and it collapses. Money isn’t moving.&lt;/p&gt;
&lt;p&gt;Preferable is for consumers to have cash, so companies will know they can sell their products and they’ll employ people to produce. If they can do that their company’s stock will be valuable and it’s price will rise.&lt;/p&gt;
&lt;p&gt;What will change the minds of business leaders, so that they *believe* there will be customers for their products?&lt;/p&gt;
&lt;p&gt;The stimulus doesn’t just inject cash into the system, though in a more severe emergency that is an option, it requires production which is of value. That pushes cash through the economy and it touches many hands. It also isn’t particularly inflationary since real production is occurring in exchange for cash.&lt;/p&gt;
&lt;p&gt;What would cause the economy to work better without gov’t help?&lt;/p&gt;
&lt;p&gt;If investors would put money into banks, so they could lend to businesses at low rates, then businesses wouldn’t require as much courage to produce and try to sell their goods &amp; services. It’s still a matter of some faith that consumers will be there. How do they know consumers will have cash to buy?&lt;/p&gt;
&lt;p&gt;It seems at time that ALL businesses are waiting, waiting for someone else to invest in production first. Nobody wants to risk jumping into the water until it’s been proven safe. There a sound reason too. Just because you’re paying YOUR employees and THEY will have cash to buy stuff doesn’t mean OTHER employees will have cash to buy YOUR products.&lt;/p&gt;
&lt;p&gt;How do you ever know when enough of your potential customers have the cash and would be willing to buy your products?&lt;/p&gt;
&lt;p&gt;Q: Is it enough for gov’t to create a good environment for business or is there a requirement for gov’t to push it along (to overcome the natural hesitancy of businesses to invest in employees and plant)?&lt;/p&gt;
&lt;p&gt;Q: Is the cost of borrowing prohibitive?&lt;/p&gt;
&lt;p&gt;Q: What is prohibitive if you’re not certain you’ll have customers?&lt;/p&gt;
&lt;p&gt;Q: What uncertainty exists and can be overcome by natural business environment factors?&lt;/p&gt;
&lt;p&gt;Q: What uncertainty can only be overcome by CERTAIN gov’t action?&lt;/p&gt;
&lt;p&gt;Q: Would it focus lending better by RAISING interest rates, so that only those most likely to find these times to be an opportunity could get all the capital they might need?&lt;/p&gt;
&lt;p&gt;It’s a tough time for a lot of people, but in this real world we should think about bigger concepts than just micro-issues of the day.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>There needs to be a balance or kind of dynamic stability.</p>
<p>Right now companies don’t want to hire because they don’t know they can sell their products. That kills their stock value and it collapses. Money isn’t moving.</p>
<p>Preferable is for consumers to have cash, so companies will know they can sell their products and they’ll employ people to produce. If they can do that their company’s stock will be valuable and it’s price will rise.</p>
<p>What will change the minds of business leaders, so that they *believe* there will be customers for their products?</p>
<p>The stimulus doesn’t just inject cash into the system, though in a more severe emergency that is an option, it requires production which is of value. That pushes cash through the economy and it touches many hands. It also isn’t particularly inflationary since real production is occurring in exchange for cash.</p>
<p>What would cause the economy to work better without gov’t help?</p>
<p>If investors would put money into banks, so they could lend to businesses at low rates, then businesses wouldn’t require as much courage to produce and try to sell their goods &amp; services. It’s still a matter of some faith that consumers will be there. How do they know consumers will have cash to buy?</p>
<p>It seems at time that ALL businesses are waiting, waiting for someone else to invest in production first. Nobody wants to risk jumping into the water until it’s been proven safe. There a sound reason too. Just because you’re paying YOUR employees and THEY will have cash to buy stuff doesn’t mean OTHER employees will have cash to buy YOUR products.</p>
<p>How do you ever know when enough of your potential customers have the cash and would be willing to buy your products?</p>
<p>Q: Is it enough for gov’t to create a good environment for business or is there a requirement for gov’t to push it along (to overcome the natural hesitancy of businesses to invest in employees and plant)?</p>
<p>Q: Is the cost of borrowing prohibitive?</p>
<p>Q: What is prohibitive if you’re not certain you’ll have customers?</p>
<p>Q: What uncertainty exists and can be overcome by natural business environment factors?</p>
<p>Q: What uncertainty can only be overcome by CERTAIN gov’t action?</p>
<p>Q: Would it focus lending better by RAISING interest rates, so that only those most likely to find these times to be an opportunity could get all the capital they might need?</p>
<p>It’s a tough time for a lot of people, but in this real world we should think about bigger concepts than just micro-issues of the day.</p>
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		<title>By: MarkH</title>
		<link>http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1936893</link>
		<dc:creator>MarkH</dc:creator>
		<pubDate>Fri, 17 Jul 2009 02:34:13 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1936893</guid>
		<description>&lt;p&gt;It would seem obvious that we need to shift the tax burden off of corporations and onto individuals, but to remove credits from use of debt which is based on over-leveraging (to hopefully get us back to real investment in companies).&lt;/p&gt;
&lt;p&gt;Of course, this probably can’t be done overnight because there’s a lot of law on that issue and because all of these significant reforms need time to work their way through the world’s economy for us to know their real effects. The health insurance reform alone could take 10-15 years. But, as we do other lesser reforms along the way we should see their effects within a couple of years.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>It would seem obvious that we need to shift the tax burden off of corporations and onto individuals, but to remove credits from use of debt which is based on over-leveraging (to hopefully get us back to real investment in companies).</p>
<p>Of course, this probably can’t be done overnight because there’s a lot of law on that issue and because all of these significant reforms need time to work their way through the world’s economy for us to know their real effects. The health insurance reform alone could take 10-15 years. But, as we do other lesser reforms along the way we should see their effects within a couple of years.</p>
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		<title>By: tbsa</title>
		<link>http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1936872</link>
		<dc:creator>tbsa</dc:creator>
		<pubDate>Fri, 17 Jul 2009 01:51:30 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1936872</guid>
		<description>&lt;p&gt;&lt;em&gt;According to the most recent data (for 2007), the best-off 1 percent of American households take home about 20 percent of total income&lt;/em&gt;&lt;/p&gt;
&lt;p&gt;Okay, so why aren’t these people aren’t hiring and and inovating and putting people back to work now.  If they are doing so well now, and are frightened that they won’t be able to hire, or inovate or whatever if their taxes are raised….&lt;br /&gt;
My question is what are they doing now?&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p><em>According to the most recent data (for 2007), the best-off 1 percent of American households take home about 20 percent of total income</em></p>
<p>Okay, so why aren’t these people aren’t hiring and and inovating and putting people back to work now.  If they are doing so well now, and are frightened that they won’t be able to hire, or inovate or whatever if their taxes are raised….<br />
My question is what are they doing now?</p>
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		<title>By: bonkers</title>
		<link>http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1936871</link>
		<dc:creator>bonkers</dc:creator>
		<pubDate>Fri, 17 Jul 2009 01:48:04 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1936871</guid>
		<description>&lt;p&gt;Your questions illustrate why I feel busting up BigMedia through antitrust legislation should be issue numero uno.&lt;/p&gt;
&lt;p&gt;Blue Collar Americans understood the cause/effect of these issues for generations, until the carefully constructed plan to take over the message machine started bearing fruit for BigMoney.  It’s always been that way to some degree, but in response to the 1950s-60s social upheaval, they decided to take it over all the way.  It’s been in full effect for a couple of decades now, with Lush Limpbaugh, pretty much every major TV “news” outlet, the AP (recently), Fox Newz, etc. setting our national discourse.&lt;/p&gt;
&lt;p&gt;Thus, we have Joe6Pack voting against his self-interest every election, and not understanding the issues he so strongly pontificates about, such as “trickle-down” being good for him.  All part of the plan.&lt;/p&gt;
&lt;p&gt;Look in other countries where the mass media hasn’t taken basically every aspect of most people’s lives.  Just in Honduras today, the blue collared people might’ve just reclaimed their country:&lt;br /&gt;&lt;a href=&quot;http://narcosphere.narconews.com/thefield/day-19-peaceful-blockades-vs-coup-paralyze-honduras&quot; rel=&quot;nofollow&quot;&gt;http://narcosphere.narconews.c.....e-honduras&lt;/a&gt;&lt;/p&gt;
&lt;p&gt;We’re making some inroads with this New Media, but damn, we got so far to go…&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Your questions illustrate why I feel busting up BigMedia through antitrust legislation should be issue numero uno.</p>
<p>Blue Collar Americans understood the cause/effect of these issues for generations, until the carefully constructed plan to take over the message machine started bearing fruit for BigMoney.  It’s always been that way to some degree, but in response to the 1950s-60s social upheaval, they decided to take it over all the way.  It’s been in full effect for a couple of decades now, with Lush Limpbaugh, pretty much every major TV “news” outlet, the AP (recently), Fox Newz, etc. setting our national discourse.</p>
<p>Thus, we have Joe6Pack voting against his self-interest every election, and not understanding the issues he so strongly pontificates about, such as “trickle-down” being good for him.  All part of the plan.</p>
<p>Look in other countries where the mass media hasn’t taken basically every aspect of most people’s lives.  Just in Honduras today, the blue collared people might’ve just reclaimed their country:<br /><a href="http://narcosphere.narconews.com/thefield/day-19-peaceful-blockades-vs-coup-paralyze-honduras" rel="nofollow">http://narcosphere.narconews.c&#8230;..e-honduras</a></p>
<p>We’re making some inroads with this New Media, but damn, we got so far to go…</p>
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		<title>By: perris</title>
		<link>http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1936870</link>
		<dc:creator>perris</dc:creator>
		<pubDate>Fri, 17 Jul 2009 01:37:14 +0000</pubDate>
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		<description>&lt;p&gt;even at that rate they still payed a far smaller percentage of wage to tax then the middle and lower class&lt;/p&gt;
&lt;p&gt;the wealthy spend a far smaller percentage of their wage then the middle and lower class, that unspent wage doesn’t get re-taxed to local, state, useage fees&lt;/p&gt;
&lt;p&gt;even at that rate they pay less&lt;/p&gt;
&lt;p&gt;this is something the democrats miss, we actually could have a “flat tax” if consumption was included in that tax&lt;/p&gt;
&lt;p&gt;in other words, take away local, state, school tax, useage fees and then fund charge that tax that would still pay for necessary government services, that would then represent a true flat tax and it would be fine, the problem is the “flat tax” is never represented in that form, they want consumption taxes which are obviously taxes on the poor&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>even at that rate they still payed a far smaller percentage of wage to tax then the middle and lower class</p>
<p>the wealthy spend a far smaller percentage of their wage then the middle and lower class, that unspent wage doesn’t get re-taxed to local, state, useage fees</p>
<p>even at that rate they pay less</p>
<p>this is something the democrats miss, we actually could have a “flat tax” if consumption was included in that tax</p>
<p>in other words, take away local, state, school tax, useage fees and then fund charge that tax that would still pay for necessary government services, that would then represent a true flat tax and it would be fine, the problem is the “flat tax” is never represented in that form, they want consumption taxes which are obviously taxes on the poor</p>
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		<title>By: bgrothus</title>
		<link>http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1936869</link>
		<dc:creator>bgrothus</dc:creator>
		<pubDate>Fri, 17 Jul 2009 01:26:31 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/07/16/taxing-the-rich-will-make-them-go-galt-um-no/#comment-1936869</guid>
		<description>&lt;p&gt;They are not organized enough to leave.  They only want to go where the rest of “their kind” are found.  “Their kind” speak English, want to drive to the Hamptons, be seen at events at which cameras will promote their images to magazines and other media, everywhere the USA, but mostly in NY.  &lt;/p&gt;
&lt;p&gt;They ain’t gonna Galt.  No way.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>They are not organized enough to leave.  They only want to go where the rest of “their kind” are found.  “Their kind” speak English, want to drive to the Hamptons, be seen at events at which cameras will promote their images to magazines and other media, everywhere the USA, but mostly in NY.  </p>
<p>They ain’t gonna Galt.  No way.</p>
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