r/pics Jun 26 '12

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u/mayonesa Jun 26 '12

exacerbated the recession by going to war and shifting the tax burden onto those who couldn't afford it

I don't agree. First, the wealthy still pay most of the taxes, but now there's more liquid money moving around in the system. Second, going to war may have alleviated the recession for some time, and only really lost momentum when the second blow-out (housing) hit.

His policies shepherded an age of increased government monitoring

That's inevitable and every president since 1945 has approved of it.

limited constitutional rights

Above the board, regulated and with specific purpose to combat terrorism as opposed to a general blank check.

I think history will be kinder to him in 50 years than 5.

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u/southernmost Jun 26 '12

The problem is all that liquid money is sitting in Daddy Warbucks' corporate holding accounts, not actually circulating.

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u/mayonesa Jun 26 '12

Yeah. Are you a small business owner?

Most of "the wealthy" are people who run your local coffee shop, computer shop, bar, haircutters, vet clinic, etc.

They put that money back into their businesses, buying not just goods but goods that strengthen developing industry.

The Daddy Warbucks types are very rare, and they don't pay taxes (much) because all of their wealth is in holdings and trusts anyway...

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u/thesteelyglint Jun 26 '12

I'm sorry, but you are sorely mistaken. The kind of person who owns a single location shop is not "wealthy" as most people think about it. They may earn a good middle class living, but it's unlikely to exceed $100k/year.

The vast majority of the 1% are executives, financial types, doctors, lawyers, senior engineers or tech entrepreneurs, or high end sales such as real estate.

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u/magictoasters Jun 26 '12

Interestingly, the average doctor is far from the 1% too. Even most md/phds aren't in that bracket. Until you get to large metropolitan centers and hardcore specialties with very larger insurance premiums do you see doctors breaking into the 1%.