The concern about the narrow majority ruling the sizeable minority is unfounded in this situation. Sociologists could likely speak more knowledgably on the subject, but the idea that a highly fluid, diverse and de-centralized group of lower-income tax payers would band together to oppress a similary diverse group of higher-income tax payers, when sizable portions of those two groups can expect to be in the other group within a few years, and who have friends and family in the other group, seems highly unlikely. Also, income tax rates have decreased most recenlty. Given the budget deficit, they should have logically increased, if not for everyone then for some. This has not occurred, which provides further evidence that the fear is unfounded.

One can only imagine how many improbable decisions would have to be aggregated for the threatened oppression to occur. Somewhere in L.A. a son, daughter, and grandmother tell their super-model mother, “even though you pay for everything for us already, we’re going to stick with our fellow lower-income tax paying comrades so that you can spend more on the collective and less on us, and we will do this even though we expect to be in your situation soon and even though one of us used to be in your situation. Now get yourself to the photo shoot and earn for all 50.1% of us!”

IndyMac Seized by U.S. Regulators; Schumer Blamed for Failure
By Ari Levy and David Mildenberg
July 12 (Bloomberg) — IndyMac Bancorp Inc. became the second- biggest federally insured financial company to be seized by U.S. regulators after a run by depositors left the California mortgage lender short on cash.
The Federal Deposit Insurance Corp. will run a successor institution, IndyMac Federal Bank FSB, starting next week, the Office of Thrift Supervision said in an e-mail yesterday. The regulator blamed U.S. Senator Charles Schumer for creating a “liquidity crisis” after a letter on June 26, in which he expressed concern that the bank may fail.

I’m shocked. This an obvious Dick Cheney hit job, orchestrated by Karl Rove’s dog, kelty, and the odd-Tuesday garbageman/gal/thing.

How could Fuck Schumer attack a perfectly cholvent instituchion?

I’m quite sure you have many.

I only know one person who helped craft the RTC legislation.

Latest victim of mortgage crisis, IndyMac taken over.

How much you wanna bet this will be royally fucked up by the regulators, and hyper-inflated by clueless journalists soon to be quoted by Yoshidiot?

Step up, Yoshi, now’s your chance. Call your shot here, genius!

“The truth is that as those top brackets have come down overall economic performance has been *worse*.

Wrong, wrong, wrong, wrong, wrong.

By the way, you’re an economic fool. Did I mention this?

It’s common knowledge that the heyday of the American economy was the 1950′s (top bracket: 92%) and 1960′s (top bracket: 70%).”

It’s also common knowledge that the market performs better under Democrat administrations.

Yeah, and red cars go faster, because they get the most speeding tickets. This is common Newtonian mechanics. Red = a * t.

Dude, shut the fuck up, I beg you. Pretty please. Please stop talking about economics. Pretty please.

For example, instead of complaining, they can simply pay their taxes using the same tax code under the Clinton Administration. Or even better yet, they can go back to and pay using the pre-Reagan tax code. Remember, one of the major reforms of the tax code under Reagan was the indexing of tax brackets. Before Reagan, the liberals controlling the government did not index brackets with inflation because they preferred to let inflation raise the taxes.

So, if the Liberals Al Gore/John Kerry voters actually followed what they MORALLY believe is proper and each put up on average a measly $5,000 per voter (measly compared to my tax bill) then this would mean an ADDITIONAL $500 BILLION in tax revenue for the government. If they put up an additional $5000 per capita, assuming an average of 4 members per household, these liberals could raise an addition $1 TRILLION in tax revenue for their favorite cause.

The question now becomes an ethical one. How would you describe a person who refuses to follow the course of something that they advocate strongly and that opportunity is available to them? I call them immoral. That is, they will not do themselves what they advocate should be done to others.

Yoshalist is growing tiresome.

“The truth is that as those top brackets have come down overall economic performance has been *worse*. It’s common knowledge that the heyday of the American economy was the 1950′s (top bracket: 92%) and 1960′s (top bracket: 70%).”

The truth is that wealthy people in the 1950s, 1960s, and 1970s paid less taxes than today. They lobbied for (and got) a huge smorgasbord of tax breaks, tax shelters, deferments, etc. These tax breaks and tax shelters contributed to an incredibly complex income tax code and gave birth to hundreds of tax advice firms staffed by tax lawyers and tax accountants. The high federal income tax rates did nothing to help the economy (or the government). In fact, the high tax rates harmed the economy by pushing money into stupid (but tax sheltered) investments such as unneeded office buildings, money-losing cattle ranches, and non-productive oil wells. The widespread use of tax dodges resulted in decreased federal tax revenues from the wealthy. Total tax collection was high because of a positive business cycle and because rampant inflation (starting in the late 1960s) pushed upper middle class and middle class tax payers into higher tax brackets.

I really wish Yoshidad would STFU or play troll at some other site.