Make Bush Tax Cuts Permanent?

[Here4Good]

Seriously? You think that rolling back a tax break on 120,000 taxpayers is going to cause this current hiring spree idontno to jolt to a halt?

You should read David Stockman's (you know, Reaganomics architect David Stockman, supply-side, trickle-down guru David Stockman) take on the current love affair with the uber wealthy:

http://www.nytimes.com/2010/08/01/opinion/01stockman.html?_r=1

Quote from Stockman:

But the new catechism, as practiced by Republican policymakers for decades now, has amounted to little more than money printing and deficit finance ? vulgar Keynesianism robed in the ideological vestments of the prosperous classes.​

And Matt Taibbi's commentary on it:

David Stockman and the GOP Welfare State -- RollingStone.com

Quote from Taibbi:

Stockman here is on to a basic truth about the direction in which the economy has evolved in the last decades: a seemingly endless campaign of reckless borrowing and money-printing, undertaken with the aim of propping up an Atlas class whose prosperity under Randian/Greenspanian dogma must be guaranteed at all costs.​

We are madly, madly in love with the uberwealthy and must protect them at all cost.

Honestly, how many of the business people who are actually driving the American economy do you believe belong to this top group of 120,000? I doubt seriously that the contractors, small manufacturers, software development company owners belong to this group.

This uber group is the hedge fund managers, the investment bankers, who by the way have already moved all of their money to the Far East.

 

[30ashopper]

I secretly hope the dems push through this tax hike. It'll slow the recovery somewhat, which will help republicans in 2012.

 

[Here4Good]

What recovery? The jobless one? The one where home sales and prices fluctuate like a poker hand? The one where the stock market goes up and down madly and every two days the experts have a new explanation why we are seeing this "boom" or "bust"? The one where one whole whopping month of increased home resales or unemployment rate reduction causes the pundits to declare the recession over, until the next month's numbers hit and they are dismal?

Oh, you mean the one where the bankies get their big bonuses again. That's the only one happening right now. The one where some ridiculous percentage of our GNP is now due to shuffling papers back and forth until the government steps in and buys them.

 

[PC]

I secretly hope the dems push through this tax hike. It'll slow the recovery somewhat, which will help republicans in 2012.

I think the "messiah" as the lib. media love to call him, has done enough to help the repubs. back in office in 2012. But we have to get through this Nov. first. We can only pray the fence rider independents, moderates, progressives, whatever they call themselves today have had their eyes opened to this anti-American administrations agenda.

Just a sad sad shame to see what is happening in this Great country.

 

[beachFool]

Geo, if you want to talk tax breaks, how about talking about roughly 50% of Americans getting a 100% tax break? Some even get money back, when they paid zero..

This is a disingenous arguement but popular on Fox.

What you are omitting are FICA taxes., Medicare taxes, sales taxes, excise taxes on booze, gas, real estate taxes, transfer taxes, etc.

So if you ignore all of those, you are correct, sir.

Using your logic GA Tech could ignore those 30 points UGA put on them last year and Tech wins the game.

"I'm a ramblin' wreck...."

 

[Geo]

Geo, if you want to talk tax breaks, how about talking about roughly 50% of Americans getting a 100% tax break? Some even get money back, when they paid zero. How is that for tax breaks? You make it sound like wealthy people don't pay taxes for everyone else.

I don't hear anyone talk about entitlement, except for people not paying taxes. If the government weren't taxing the crap out of businesses, and thus sending them oversees, we wouldn't have the unemployment problems we have today. Unemployment is a good thing, if used temporarily. Food stamps are also good, if used sparingly. No one in America should go without food. There are many wealthy people who donate much money to charities so that the hungry can be fed. Many communities have giving people who provide food and shelter for homeless. Being unemployed or hungry isn't bad -- It sucks. No wealthy person is suggesting it doesn't.

I read all your words- 5 times. I'm not buying it.

If you have an issue with the progressive tax system then let's work together to change it. But don't argue to keep a temporary tax break in place for the top 1% of earners under the guise that the whole tax structure is flawed.

I'm fed up with folks who claim they are so genuinely concerned with the fiscal state of the country raise an eyebrow to spending on items like unemployment but yet they keep a straight face and insist that cutting defense spending and letting temporary tax breaks expire as written in law is off limits.

Big business has you fooled into believing that they outsource or relocate primarily because of taxes elsewhere. It's not that simple. Other factors include cheap labor, lack of regulation, etc.

You saying that current tax levels caused the high unemployment is absolutely disingenuous because you are well aware that it just ain't true.

The fact that wealthy people donate to the poor/needy is irrelevant to your argument. Middle class people donate as well. Should we use this fact as the basis of an argument for providing them with a tax cut?

Quite frankly, I wish we could get real and do the unthinkable and raise taxes (while cutting spending). If the citizens (rich or poor) want to protest this by throwing tea in the river or by putting their cash into low interest accounts- so be it.

 

[30ashopper]

What recovery? The jobless one? The one where home sales and prices fluctuate like a poker hand? The one where the stock market goes up and down madly and every two days the experts have a new explanation why we are seeing this "boom" or "bust"? The one where one whole whopping month of increased home resales or unemployment rate reduction causes the pundits to declare the recession over, until the next month's numbers hit and they are dismal?

Oh, you mean the one where the bankies get their big bonuses again. That's the only one happening right now. The one where some ridiculous percentage of our GNP is now due to shuffling papers back and forth until the government steps in and buys them.

You'll get little argument from me, I agree things are pretty messed up.

 

[30ashopper]

I read all your words- 5 times. I'm not buying it.

If you have an issue with the progressive tax system then let's work together to change it. But don't argue to keep a temporary tax break in place for the top 1% of earners under the guise that the whole tax structure is flawed.

I'm fed up with folks who claim they are so genuinely concerned with the fiscal state of the country raise an eyebrow to spending on items like unemployment but yet they keep a straight face and insist that cutting defense spending and letting temporary tax breaks expire as written in law is off limits.

Big business has you fooled into believing that they outsource or relocate primarily because of taxes elsewhere. It's not that simple. Other factors include cheap labor, lack of regulation, etc.

You saying that current tax levels caused the high unemployment is absolutely disingenuous because you are well aware that it just ain't true.

The fact that wealthy people donate to the poor/needy is irrelevant to your argument. Middle class people donate as well. Should we use this fact as the basis of an argument for providing them with a tax cut?

Quite frankly, I wish we could get real and do the unthinkable and raise taxes (while cutting spending). If the citizens (rich or poor) want to protest this by throwing tea in the river or by putting their cash into low interest accounts- so be it.

With a 1.5 trillion dollar annual shortfall, you're going to have to raise a lot of taxes, and cut a lot of spending. Consider that the feds take in about 1.2 trillion through federal income taxes. To cover the shortfall, everyone would have to have their tax totals doubled. After that, we'd still have to shave another 300 billion someplace.

I honestly do not understand how we got into such an ugly mess. If you look back, federal revenue haven't changed that much. In 2006 for example, revenues were 2.2 trillion, and expenditures were 2.7 trillion. In 2010 we have revenues of 2.4 trillion, with expenditures of 3.6 trillion.

 

[scooterbug44]

wars + stimulus + bailouts + tax cuts.

Easy to overspend when you are just shipping pallets of cash overseas. :roll:

 

[Andy A]

This is a disingenous arguement but popular on Fox.

What you are omitting are FICA taxes., Medicare taxes, sales taxes, excise taxes on booze, gas, real estate taxes, transfer taxes, etc.

So if you ignore all of those, you are correct, sir.

Using your logic GA Tech could ignore those 30 points UGA put on them last year and Tech wins the game.

"I'm a ramblin' wreck...."

Its not disingenous at all, unless you happen to love paying taxes. It is about income tax and it is true that people who pay in nothing often receive checks from the government and you damn well know it. No one is ignoring the other taxes and we all pay those because if we didn't we couldn't use, own or participate in the things they support. I am not anti tax but I am really getting tired of paying as much as I pay for as little as I get in return while others end up playing the system and getting away with it. I want a system where everybody pays something and right now we don't have it. I'm talking about income not the other garbage we have no choice abourt. Maybe we should work out a system where we ignore the 30 points UGA put up. It would be no more unfair than the one we operate under now. If you can argue with the fact that our tax system needs a complete overhaul, be my guest.