tag:blogger.com,1999:blog-24135583.post3303095720772221999..comments2023-05-30T05:54:48.988-04:00Comments on kingston progressive: HEARD OF THE PEOPLE'S BUDGET?Mike Madsenhttp://www.blogger.com/profile/14527557594630435730noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-24135583.post-52404515806800028232011-04-16T19:17:36.610-04:002011-04-16T19:17:36.610-04:00It does not take an advanced degree in economics t...It does not take an advanced degree in economics to realize that since the top 1% own 40% of the wealth in this country and earn 25% of the income, that we are on our way to a complete plutocracy. Ryan's historically ordinary budget will ensure this disastrous course of events. <br /><br />American exceptionalism should mean that the budget will re invigorate the middle class and promote a way to move upward mobility for anyone. When billionaires get the most, or should I say; the most profitable companies in the world get more tax breaks/benefits and get rewarded for shipping jobs overseas-- when these same companies can indulge in unchecked price gouging, unfair labor practices--you get a break down of middle class and impoverishment of the majority of Americans. <br />The People's Budget helps the people of the United States-- and reins in greed, promotes social responsibility and invests in infrastructure and productive job growth-- Everything the Koch Brothers have worked to stifle. <br /><br />This budget proposal is very good for America. Its implementation would restore America's greatness (now greatly diminished) and strengthen the dollar. Ryan's will further set the course of the dollar losing its status as the world's currency.. at which time we are all SCREWED.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-24135583.post-13921769255705066022011-04-16T17:09:37.981-04:002011-04-16T17:09:37.981-04:00There is a lot to talk about here but I will just ...There is a lot to talk about here but I will just go with the desire to increase taxes on capital gains. What most people fail to understand is that taxes are only paid on capital gains when the investment is sold and a profit is made. When the tax rate on capital gains are high it is not worth the risk to sell what one has and invest in something new, so the investment simply sits and no taxes are paid at all. So if the tax rate on capital gains are increased most investors will simply sit on their investments until sometime in the future when the rate is lowered again. Put simply, if you increase the tax rate on capital gains you will not see the proposed increase in revenues.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-24135583.post-21986269970168745592011-04-16T13:55:01.118-04:002011-04-16T13:55:01.118-04:00Worth adding to your post, the "People's ...Worth adding to your post, the "People's Budget" also strengthens Social Security by raising the taxable maximum to include 90% of economy-wide earnings and eliminating employer-paid caps on their high-income employees. Little chance of this being enacted because only 78% of Americans want it while the wealthy campaign supporters don't.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-24135583.post-14949918246493603242011-04-16T10:24:22.781-04:002011-04-16T10:24:22.781-04:00Ironically, the Democratic candidate for Mayor of ...Ironically, the Democratic candidate for Mayor of Kingston that sounds the most like Scott Walker didnt get the memo. Maybe he should follow Obama on Twitter.Anonymousnoreply@blogger.com