Republican Presidental Debate Iowa

[Demosthenes11]

The top 5 percent pay well over half the income taxes. The wealthiest 1 percent of the population earn 19 per­cent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare.

your numbers smell of bullshit

http://assets.motherjones.com/politi...withlegend.png

[Demosthenes11]

aka, you are breaking it down further by bracket, which is disingenuous. The top 20% make about 83% of the income.

The poorest don't pay income taxes because - guess what - they can't afford to, so the government doesn't charge them. You can't break fucking income tax down by wealth brackets because it's only 1 of the taxes people pay. I'm not sure if you meant to, but you also slipped in "income tax....income tax...taxes." Not sure if that last "taxes" is supposed to be just taxes or income tax as well.

[archibaldcrane]

Inflation of every day items for the year 2010:

wheat 74%
corn 14%
oats 58%
canola 36%
heating oil 29%
gasoline 25%
natural gas 15%
beef 18%
pork 60%
coffee 27%
sugar 44%
cotton 66%
copper 37%
gold 31%
silver 38%

Complete bullshit. Also, Gold and Silver are everyday items?

[Dantrag]

Inflation of every day items for the year 2010:
wheat 74%
corn 14%
oats 58%
canola 36%
heating oil 29%
gasoline 25%
natural gas 15%
beef 18%
pork 60%
coffee 27%
sugar 44%
cotton 66%
copper 37%
gold 31%
silver 38%

Most of which has to do with the inflation of what? One thing that we all use every day. It's directly linked. And which companies are making record profits every year?

Edit: And yes, overall inflation is actually still fucking low as shit.

And once again. EVERY time we cut taxes on the rich, the middle class shrinks and the difference of GDP owned becomes wider. I think it was something in the 50's where the Top 10% owned something around 50% of US wealth were as today the top 10% own 80%.

[test123]

Complete bullshit.

It's not. The inflation is at 8.5% using the previous method for the Consumer Price Index (CPI). Up until the Boskin/Greenspan agendum surfaced, the CPI was measured using the costs of a fixed basket of goods, a fairly simple and straightforward concept. The identical basket of goods would be priced at prevailing market costs for each period, and the period-to-period change in the cost of that market basket represented the rate of inflation in terms of maintaining a constant standard of living.

The Gov actually CHANGED how CPI is calculated to artificially construct a lower inflation rate. If 4-8% does not scare you, look at the video I posted above about artihmetic.

[Dantrag]

It's not. The inflation is at 8.5% using the previous method for the Consumer Price Index (CPI). Up until the Boskin/Greenspan agendum surfaced, the CPI was measured using the costs of a fixed basket of goods, a fairly simple and straightforward concept. The identical basket of goods would be priced at prevailing market costs for each period, and the period-to-period change in the cost of that market basket represented the rate of inflation in terms of maintaining a constant standard of living.

The Gov actually CHANGED how CPI is calculated to artificially construct a lower inflation rate. If 4-8% does not scare you, look at the video I posted above about artihmetic.

Again, due to which product's price increase are ALL of those linked to? Which product that has shown some of the highest profits EVER? And has some of the most lucrative tax incentives out of any company?

[Restrat]

According to the CPI website, it's up 3.6% since last year at this time.
Where are you getting 8.5% from?

[archibaldcrane]

You really think the price of wheat increased 74% in one calendar year? That pork went up 60%?

My local grocery store must not exist in your fantasy world.

Sent from my Samsung Galaxy S 4G using Tapatalk

[Demosthenes11]

According to the CPI website, it's up 3.6% since last year at this time.
Where are you getting 8.5% from?

dude, that's just what they want you to believe man

[MF Perm tha Fineass]

I don't even know why people are talking about the republican debates since Obama secretly revoked term limits

[test123]

Again, due to which product's price increase are ALL of those linked to? Which product that has shown some of the highest profits EVER? And has some of the most lucrative tax incentives out of any company?

Here is your problem:
http://3.bp.blogspot.com/-rZhPCgTcZx...etary-base.png

For the past 3 years the Money Supply has increased over 50%. Yes, that is over 50% INFLATION in money supply in 3 years.

[aurik]

Yes there's no longer a one-term limit on black presidents.

[aurik]

Here is your problem:
http://3.bp.blogspot.com/-rZhPCgTcZx...etary-base.png

For the past 3 years the Money Supply has increased over 50%. Yes, that is over 50% INFLATION in money supply in 3 years.

Increase in money supply != inflation.

[Correction]

The Gov actually CHANGED how CPI is calculated to artificially construct a lower inflation rate.

Seems a bit hysterical and you're leaving out an important reason behind it. The whole point of determining whether or not we were overestimating inflation is because Social Security payouts are tied to this very calculation, a question of hundreds of billions of dollars in the long term.

[Dantrag]

Must be a politician because you danced around my question like a pro. Funny enough, the increase in the amount of money that has been printed has actually been a double edged sword. We are actually exporting a lot more than we used to due to the weak dollar.

But here, I'll answer the question that you seem to be avoiding.

Oil. Oil has shot up and is why farm goods are becoming more expensive. But oil companies are still reporting extreme record profits. Something wrong with that? Yeah, I think so.

Edit: Also, I think you're misinterpreting what inflation is.

[test123]

Increase in money supply != inflation.

[aurik]

Complete bullshit. Also, Gold and Silver are everyday items?

http://www.bls.gov/ro3/apmw.htm

Basically, you're right and he's spouting some nonsense.

[aurik]

Also re: that RP vs Bernanke clip, this is the reason why I don't think people should vote for RP. He's so dead wrong with his economic views. I respect that he's faithful to his principles and I agree with many of his promises, but he's just so bad with economic views.

For example he claims inflation is the increase of the money supply, which it is not, and Bernanke alludes to how this is wrong right at the end.

[Dantrag]

I think the problem is that increasing the amount of money that's available CAN cause inflation. But in this case it's not. Again, with the amount of money they've printed they've actually made the dollar weaker which has made our exports stronger.

[test123]

he claims inflation is the increase of the money supply, which it is not, and Bernanke alludes to how this is wrong right at the end.

Notice how Bernanke bragged about M1 and M2 beeing reasonably stable, meanwhile M3 is "Top Secret", that is what the audit the fed is all about.

The FED gave out $9 Trillion to banks (the peoples money) to play with, earning them billions in bonuses.
Not to mention the $23.7 Trillion of "free money" available.