GE Saves $3.3 Billion With Cuts to Retirees' Life, Health Benefits

I agree, and anyone who has not paid into the system should not be allowed to collect it, fair?

So basically you want to cap all investment taxation to a mere $100K?

A lot of investments amount to millions. What incentive does anyone have at that point to invest if all it;s going to do is cost them more in taxation?

There are two basic thoughts on the flat and/or fair tax: Everyone pays X % on income, period. No extra taxes, no tax breaks...or, no one pays any income tax at all and we all pay a tax whenever we buy something (except food).

Both have their merits.

 

Fine, then also privatize public school. So that we wont have any educated people in this country. And as you said, if someone needs public schooling they should move to North Korea. Good idea!

 

unless disabled, otherwise they should have to continue to turn to the welfare system

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no no no no... you do not get retaxed on that money again, you only get taxed on the NEW money, the money you never labored for, but was income from the money you invested

you invest 100k and make 10k off of it, you get taxed on the 10k, not 110k

that was an easy argument to debunk

as for the tax loopholes, I do not know them all, but if they are so unimportant to you, why do you defend them, lets just remove them.... simple

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So you think privatized school would a worse job than our current public schools?????????

 

Yes, I understand that. My point is capping investment like that would be bad for startups and firms. You can't just stop the investment train without effects on down the line.

The new money does get taxed, it's just not at the same rate as the labor gained money.

That's the incentive to invest your hard-earned, labor taxed money...an opportunity to make money without paying as much tax on it.

Anyone who makes enough money to make large enough investments that pay back enough to be wealthy and to live off their capital gains has done well. They're still paying tax on those capital gains and those investments have gone a long way in powering the economy and businesses, etc that use those investments.

 

the rich are not gonna stop investing cause the tax rate equal that of labored income

and as I said, the first 50k or 100k of investment income should be tax free per year, that would help the middle class and businesses

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At least public schools are providing education who othewise won't get any education.

 

Are they really? What we need is a 2 tier system of public education. At the end of every school year students at every grade level take an SAT. The top 50% go to the school with live teachers, the bottom 50% go to a school where the lessons are on DVD with a classroom proctor to keep order and administer quizzes and tests. This way we wouldn't waste billions on kids and their parents who don't care about the value of education AND they wouldn't drag down the kids who do.

 

So let me get this straight, me and my neighbor make the same money for all our lives. I save regularly, sacrificing to do so but build up a nice large retirement fund in my 401k, which he never participate it, and my IRA which he never established but spent his money on new fancy cars, expensive vacations, and toys. So we both hit retirement I have my huge personal savings and SS to live on now in a very very nice retirement. Much more than I need to just support myself. SS is all he has. We have both paid the same amount into SS but I should receive less than he? I should get penalized because I DID scrimp and save all my life while he just blew his money on good times and good things?

Is that why we have a growing government dependency class?

What the highest earners do is pay 88% of the income taxes while the bottom 50% pays virtually nothing and takes HUGE amounts of money over half the budget or providing them their subsistence, so who is doing more for their country?

Who in the above are the greedy ones. The ones who demand more and more of someone else's money or the someone else's who foot the bill for them already?

And I'm still waiting for your answer about the capital gains rates and at what percentage they should be set and your reasoning for that. And since you said the tax rate doesn't effect the amount of investing, at what rates are more gains subject to taxation, the returns of the investments?

 

If we give everyone vouchers to attend private schools why would we not have educated people in this country and they could a bad job of it and still do a better job than the public schools are doing.

 

They don't now unless they or a qualified survivor. What should be done if the cap on income is raised then the cap on benefits has to be raised. It is a mandatory RETIREMENT SYSTEM and should be treated no different, the more you pay in the more you get back out.

 

we allow private schools for profit

but people that can't afford them go to public schools

I do not want corporations controlling our public schools

I am all for giving parents tax cuts on their homes for what they put in to the public school system, no more then that though if they choose private schools

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They won't stop but they will greatly increase it at lower rates and we will see LOTS more tax revenue.

 

You keep making this assertion yet you can't name any........kinda makes you plan a moot point then.

How about deductions for charitable contributions, like say to Planned Parenthood or PETA? Those "loopholes"?

 

disagree....

 

lets end them then, which ones do you want to keep, if you can't name them, lets end them

they exist, you and I both know that, let's end them...

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I've already proved it, I posted the historical numbers to you and still await your answer to the question. Why would you prefer the the Democrat 28% rate over the Republican 15% rate.

 

I'm not advocating the change you are.

So you really support ending all charitable deductions and lowering the funds that go to feed children, pay for women's health care, help educate children, help the disabled like the Shriner's Hospitals?

 

http://www.washingtontimes.com/news/2015/mar/13/amnesty-makes-illegals-eligible-social-security/

 

Thats what I am saying, we should also have public hospitals as we have public schools.

 

The bulk of GE's political donations went to Republicans.
So you still hold that it "really paid off for them?"

 

I agree with that

 

Yes I do. But if you'll notice I said Obama and union reps not democrats or republicans.

 

benefits are very much a part of the pay package. to say anything else is just incorrect. What GE said is we will screw you. Smart talent will go elsewhere.

 

Capitalism 101.