$79 Billion a year in additional tax revenue The Dems are after!!!

[healthmyths]

I really don't understand WHY anyone especially the Dems/Obama supporters don't just go to the IRS (LIKE I HAVE!!!) and see how much more money would be paid by taxpayers earning over $200,000 and do as I did, see 3,895,526 tax returns in 2009 reported a gross income of over
$1,724,161,875,000. Now it is so simple to multiple that $1.7 trillion by Bush's cuts from 39.6% to 35% or 4.6%!

So children.. what is the answer??

$1,724,161,875,000 X 4.6% = $79,311,446,000...
Yes that's IT! For $80 billion more collected by the IRS from those 3,895,526 taxpayers it will last 11 days!

You don't believe me do as I did download this file from this web site:
SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income

It's the 2009 Tax Return analysis provided DIRECTLY from the IRS!
"Table 1.1 Selected Income and Tax Items, by Size and Accumulated Size of Adjusted Gross Income, Tax Year 2009"

BUT there is more!!!
The economic multiplier states for every $1 million spent is multiplied by 1.18 or the economy grows with that $80 billion to $94.4 billion.
Taxes, payroll taxes, new employees

• $1.188 million in total economic activity takes place for every $1 million spent..
• Each $1 million spent provides $205,829 in labor incomes
• Each $1 million represents 7.7 workers and assuming 35% (payroll taxes, FICA, FUTA, Medicare, SS) ($80 billion equals 726,880 jobs!
www2.econ.iastate.edu/research/webpapers/paper_13143.pdf

But what do the FACTS have to do with Obama/Democrats??? They just make up numbers like "50 million uninsured"!!!

 

[healthmyths]

One of the biggest criticism of this board is a majority of contributors are lazy!
Lazy because they generally don't provide ANY substantiation as I have directly from the IRS!

Here we have countless talking heads, members of congress all guessing as to what the effect on tax revenue by raising the tax to 39.6% and we have here the plain simple unvarnished FACTS directly from the IRS!!!

The most that could be received based on 2009 FACTS is $80 billion!

SO all of you out there that are using hyperbole, guesses, wild eyed hysteria.. FACT is $80 billion would be added!

 

[Grandma]

So... having $80B more per year is a problem???

 

[healthmyths]

So... having $80B more per year is a problem???

YES because TAKING $80 billion out of the economy is really $94 billion due to the economic multiplier affect!

YES because if NO ONE cuts this $400 billion in WASTED duplicated tax money!

The Government Accountability Office (GAO) issued its annual report on government duplication today.
This is the second year of a three-year process, during which the GAO will comprehensively review the federal government to identify duplication, fragmentation, and waste.
Since the review’s inception, GAO has found 66 areas of duplication encompassing over 1,500 individual programs.
This year, GAO identified 32 new areas of duplication and 19 additional areas of waste and inefficiency.
The report cites duplication in almost a thousand individual programs, costing taxpayers over $300 billion per year.
This is on top of more than $100 billion identified in last year’s report.

Examples include:

• - $3 billion spent on over 200 STEM (Science, Technology, Engineering, and Math) education programs. GAO stated that since 2005, when it first looked at this issue, “the majority of [STEM] programs have not conducted comprehensive evaluations of how well their programs are working.”
• - 37 uncoordinated EPA laboratories and 94 “green building” programs for which costs cannot be determined because “information agencies provided was incomplete and unreliable.”
• - $736 million spent on 14 different diesel emissions programs and federal funding for 55 surface freight transportation programs.
• - 160 various housing assistance programs at a cost of $170 billion annually.

-- 82 duplicative teacher quality programs. One year later, none of the identified programs have been consolidated or eliminated.
-- 18 duplicative domestic food and nutrition programs where “no executive action [has been] taken,” at total cost of $62.5 billion.

http://budget.senate.gov/republican/public/index.cfm/files/serve?File_id=5b942c34-d1e5-49de-be92-a85dad8aa191&SK=42ED5BBA6767481D74B2057AC359ACD4

 

[healthmyths]

WHY is it acceptable to INCREASE tax revenue by $80 billion while $400 billion a year is being WASTED!

I mean those of you in favor of ADDING $80 billion in REVENUE to be used in duplicate efforts that cost $400 billion ... YOU are literally crazy!

Why is it so hard to go after the $400 billion in waste that comes SIMPLY from 100s of programs that are duplicates!
That haven't any measures to the effectiveness of the programs! Really are you people NUTS to want $80 billion that is going to be simply thrown away??

 

[Katzndogz]

obama knows what effect raising taxes would have. If he didn't know, he was told during the debates in 2008. It doesn't MATTER if more revenue is raised by lowering taxes if it's not FAIR.

 

[LeftCoastVoter]

I really don't understand WHY anyone especially the Dems/Obama supporters don't just go to the IRS (LIKE I HAVE!!!) and see how much more money would be paid by taxpayers earning over $200,000 and do as I did, see 3,895,526 tax returns in 2009 reported a gross income of over
$1,724,161,875,000. Now it is so simple to multiple that $1.7 trillion by Bush's cuts from 39.6% to 35% or 4.6%!

So children.. what is the answer??

$1,724,161,875,000 X 4.6% = $79,311,446,000...
Yes that's IT! For $80 billion more collected by the IRS from those 3,895,526 taxpayers it will last 11 days!

You don't believe me do as I did download this file from this web site:
SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income

It's the 2009 Tax Return analysis provided DIRECTLY from the IRS!
"Table 1.1 Selected Income and Tax Items, by Size and Accumulated Size of Adjusted Gross Income, Tax Year 2009"

BUT there is more!!!
The economic multiplier states for every $1 million spent is multiplied by 1.18 or the economy grows with that $80 billion to $94.4 billion.
Taxes, payroll taxes, new employees

• $1.188 million in total economic activity takes place for every $1 million spent..
• Each $1 million spent provides $205,829 in labor incomes
• Each $1 million represents 7.7 workers and assuming 35% (payroll taxes, FICA, FUTA, Medicare, SS) ($80 billion equals 726,880 jobs!
www2.econ.iastate.edu/research/webpapers/paper_13143.pdf

But what do the FACTS have to do with Obama/Democrats??? They just make up numbers like "50 million uninsured"!!!

what is $94.4B over 10 years? $994B. this is an extra trillion in revenue which is what they have been stating all along.

this coupled with the $3T in spending cuts over the next 10 years is the exact make up for the $4T grand bargain.

however Boehner and the GOP walked away from the deal and now we have the so called "fiscal cliff" we are currently facing.

Grand Bargain Documents: Obama, Debt Ceiling - Business Insider

 

[kiwiman127]

I really don't understand WHY anyone especially the Dems/Obama supporters don't just go to the IRS (LIKE I HAVE!!!) and see how much more money would be paid by taxpayers earning over $200,000 and do as I did, see 3,895,526 tax returns in 2009 reported a gross income of over
$1,724,161,875,000. Now it is so simple to multiple that $1.7 trillion by Bush's cuts from 39.6% to 35% or 4.6%!

So children.. what is the answer??

$1,724,161,875,000 X 4.6% = $79,311,446,000...
Yes that's IT! For $80 billion more collected by the IRS from those 3,895,526 taxpayers it will last 11 days!

You don't believe me do as I did download this file from this web site:
SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income

It's the 2009 Tax Return analysis provided DIRECTLY from the IRS!
"Table 1.1 Selected Income and Tax Items, by Size and Accumulated Size of Adjusted Gross Income, Tax Year 2009"

BUT there is more!!!
The economic multiplier states for every $1 million spent is multiplied by 1.18 or the economy grows with that $80 billion to $94.4 billion.
Taxes, payroll taxes, new employees

• $1.188 million in total economic activity takes place for every $1 million spent..
• Each $1 million spent provides $205,829 in labor incomes
• Each $1 million represents 7.7 workers and assuming 35% (payroll taxes, FICA, FUTA, Medicare, SS) ($80 billion equals 726,880 jobs!
www2.econ.iastate.edu/research/webpapers/paper_13143.pdf

But what do the FACTS have to do with Obama/Democrats??? They just make up numbers like "50 million uninsured"!!!

Is it not true that I have caught you lying your ass off about people on Medicaid not being counted as insured several times, but you just keep on repeating that lie?
By the way, do you think your usage of capitalizing words is effective?

 

[Politico]

Wow. Shame that doesn't offset the extra spending increases they want.

 

[DiamondDave]

I really don't understand WHY anyone especially the Dems/Obama supporters don't just go to the IRS (LIKE I HAVE!!!) and see how much more money would be paid by taxpayers earning over $200,000 and do as I did, see 3,895,526 tax returns in 2009 reported a gross income of over
$1,724,161,875,000. Now it is so simple to multiple that $1.7 trillion by Bush's cuts from 39.6% to 35% or 4.6%!

So children.. what is the answer??

$1,724,161,875,000 X 4.6% = $79,311,446,000...
Yes that's IT! For $80 billion more collected by the IRS from those 3,895,526 taxpayers it will last 11 days!

You don't believe me do as I did download this file from this web site:
SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income

It's the 2009 Tax Return analysis provided DIRECTLY from the IRS!
"Table 1.1 Selected Income and Tax Items, by Size and Accumulated Size of Adjusted Gross Income, Tax Year 2009"

BUT there is more!!!
The economic multiplier states for every $1 million spent is multiplied by 1.18 or the economy grows with that $80 billion to $94.4 billion.
Taxes, payroll taxes, new employees

• $1.188 million in total economic activity takes place for every $1 million spent..
• Each $1 million spent provides $205,829 in labor incomes
• Each $1 million represents 7.7 workers and assuming 35% (payroll taxes, FICA, FUTA, Medicare, SS) ($80 billion equals 726,880 jobs!
www2.econ.iastate.edu/research/webpapers/paper_13143.pdf

But what do the FACTS have to do with Obama/Democrats??? They just make up numbers like "50 million uninsured"!!!

what is $94.4B over 10 years? $994B. this is an extra trillion in revenue which is what they have been stating all along.

this coupled with the $3T in spending cuts over the next 10 years is the exact make up for the $4T grand bargain.

however Boehner and the GOP walked away from the deal and now we have the so called "fiscal cliff" we are currently facing.

Grand Bargain Documents: Obama, Debt Ceiling - Business Insider

Uhh.. there are no new or additional spending cuts... that bullshit was already debunked... just like the 'Obama only added 1T in new spending' chant

 

[healthmyths]

I really don't understand WHY anyone especially the Dems/Obama supporters don't just go to the IRS (LIKE I HAVE!!!) and see how much more money would be paid by taxpayers earning over $200,000 and do as I did, see 3,895,526 tax returns in 2009 reported a gross income of over
$1,724,161,875,000. Now it is so simple to multiple that $1.7 trillion by Bush's cuts from 39.6% to 35% or 4.6%!

So children.. what is the answer??

$1,724,161,875,000 X 4.6% = $79,311,446,000...
Yes that's IT! For $80 billion more collected by the IRS from those 3,895,526 taxpayers it will last 11 days!

You don't believe me do as I did download this file from this web site:
SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income

It's the 2009 Tax Return analysis provided DIRECTLY from the IRS!
"Table 1.1 Selected Income and Tax Items, by Size and Accumulated Size of Adjusted Gross Income, Tax Year 2009"

BUT there is more!!!
The economic multiplier states for every $1 million spent is multiplied by 1.18 or the economy grows with that $80 billion to $94.4 billion.
Taxes, payroll taxes, new employees

• $1.188 million in total economic activity takes place for every $1 million spent..
• Each $1 million spent provides $205,829 in labor incomes
• Each $1 million represents 7.7 workers and assuming 35% (payroll taxes, FICA, FUTA, Medicare, SS) ($80 billion equals 726,880 jobs!
www2.econ.iastate.edu/research/webpapers/paper_13143.pdf

But what do the FACTS have to do with Obama/Democrats??? They just make up numbers like "50 million uninsured"!!!

what is $94.4B over 10 years? $994B. this is an extra trillion in revenue which is what they have been stating all along.

this coupled with the $3T in spending cuts over the next 10 years is the exact make up for the $4T grand bargain.

however Boehner and the GOP walked away from the deal and now we have the so called "fiscal cliff" we are currently facing.

Grand Bargain Documents: Obama, Debt Ceiling - Business Insider

WHAT SPENDING CUTS????
Be specific! Can't count Afghan/Iraq.. NOT part of the budget!
NOW these are specific budget cuts:
Examples include:

• - $3 billion spent on over 200 STEM (Science, Technology, Engineering, and Math) education programs. GAO stated that since 2005, when it first looked at this issue, “the majority of [STEM] programs have not conducted comprehensive evaluations of how well their programs are working.”
• - 37 uncoordinated EPA laboratories and 94 “green building” programs for which costs cannot be determined because “information agencies provided was incomplete and unreliable.”
• - $736 million spent on 14 different diesel emissions programs and federal funding for 55 surface freight transportation programs.
• - 160 various housing assistance programs at a cost of $170 billion annually.

-- 82 duplicative teacher quality programs. One year later, none of the identified programs have been consolidated or eliminated.
-- 18 duplicative domestic food and nutrition programs where “no executive action [has been] taken,” at total cost of $62.5 billion.

http://budget.senate.gov/republican/public/index.cfm/files/serve?File_id=5b942c34-d1e5-49de-be92-a85dad8aa191&SK=42ED5BBA6767481D74B2057AC359ACD4

Is that too difficult to understand! NO military cuts necessary. JUST do a better job of managing and NOT CAMPAIGNING!!!
No other President has traveled as much for his own campaigning daily even after re-election! Save the $4 million going to Hawaii for 20 days!
Do like Bush did go to his permanent home.. Bush hardly vacationed awhere else other then Camp David or Crawford! Never heard him going off spending hard tax dollars!

 

[LeftCoastVoter]

I really don't understand WHY anyone especially the Dems/Obama supporters don't just go to the IRS (LIKE I HAVE!!!) and see how much more money would be paid by taxpayers earning over $200,000 and do as I did, see 3,895,526 tax returns in 2009 reported a gross income of over
$1,724,161,875,000. Now it is so simple to multiple that $1.7 trillion by Bush's cuts from 39.6% to 35% or 4.6%!

So children.. what is the answer??

$1,724,161,875,000 X 4.6% = $79,311,446,000...
Yes that's IT! For $80 billion more collected by the IRS from those 3,895,526 taxpayers it will last 11 days!

You don't believe me do as I did download this file from this web site:
SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income

It's the 2009 Tax Return analysis provided DIRECTLY from the IRS!
"Table 1.1 Selected Income and Tax Items, by Size and Accumulated Size of Adjusted Gross Income, Tax Year 2009"

BUT there is more!!!
The economic multiplier states for every $1 million spent is multiplied by 1.18 or the economy grows with that $80 billion to $94.4 billion.
Taxes, payroll taxes, new employees

• $1.188 million in total economic activity takes place for every $1 million spent..
• Each $1 million spent provides $205,829 in labor incomes
• Each $1 million represents 7.7 workers and assuming 35% (payroll taxes, FICA, FUTA, Medicare, SS) ($80 billion equals 726,880 jobs!
www2.econ.iastate.edu/research/webpapers/paper_13143.pdf

But what do the FACTS have to do with Obama/Democrats??? They just make up numbers like "50 million uninsured"!!!

what is $94.4B over 10 years? $994B. this is an extra trillion in revenue which is what they have been stating all along.

this coupled with the $3T in spending cuts over the next 10 years is the exact make up for the $4T grand bargain.

however Boehner and the GOP walked away from the deal and now we have the so called "fiscal cliff" we are currently facing.

Grand Bargain Documents: Obama, Debt Ceiling - Business Insider

WHAT SPENDING CUTS????
Be specific! Can't count Afghan/Iraq.. NOT part of the budget!
NOW these are specific budget cuts:
Examples include:

• - $3 billion spent on over 200 STEM (Science, Technology, Engineering, and Math) education programs. GAO stated that since 2005, when it first looked at this issue, “the majority of [STEM] programs have not conducted comprehensive evaluations of how well their programs are working.”
• - 37 uncoordinated EPA laboratories and 94 “green building” programs for which costs cannot be determined because “information agencies provided was incomplete and unreliable.”
• - $736 million spent on 14 different diesel emissions programs and federal funding for 55 surface freight transportation programs.
• - 160 various housing assistance programs at a cost of $170 billion annually.

-- 82 duplicative teacher quality programs. One year later, none of the identified programs have been consolidated or eliminated.
-- 18 duplicative domestic food and nutrition programs where “no executive action [has been] taken,” at total cost of $62.5 billion.

http://budget.senate.gov/republican/public/index.cfm/files/serve?File_id=5b942c34-d1e5-49de-be92-a85dad8aa191&SK=42ED5BBA6767481D74B2057AC359ACD4

Is that too difficult to understand! NO military cuts necessary. JUST do a better job of managing and NOT CAMPAIGNING!!!
No other President has traveled as much for his own campaigning daily even after re-election! Save the $4 million going to Hawaii for 20 days!
Do like Bush did go to his permanent home.. Bush hardly vacationed awhere else other then Camp David or Crawford! Never heard him going off spending hard tax dollars!

here you go:

Obama debt plan: President unveils $3 trillion in cuts - Sep. 19, 2011

Mandatory spending cuts: $580 billion.

Of the total cuts in mandatory spending, $248 billion will come out of Medicare. And about 90% of those savings will come from reducing overpayments in the system, a senior administration official said. He added that any changes to Medicare benefits won't kick in before 2017.
Another $72 billion will come from Medicaid and other health programs.
The plan also includes $250 billion in savings from other mandatory programs. They include $33 billion in savings from farm subsidies; $42.5 billion from federal worker benefit programs, including those for civilian workers and military personnel; and $92.2 billion the administration estimates it can save from "restructuring government operations and reducing government liabilities."

Tax revenue: $1.5 trillion.

Of the total revenue raised by tax changes, $800 billion would be realized by letting some of the Bush-era tax cuts expire for high-income households -- something Obama has called for repeatedly.
Another $400 billion would result from capping the value of itemized deductions and other exemptions for high-income households.
The remaining $300 billion would come from closing various tax loopholes, a senior administration official said.
In addition, the president offered guiding principles for future tax reform.
Any reform plan, he said, should lower tax rates, eliminate wasteful loopholes, boost job creation and economic growth, and be consistent with the Buffett Rule.
Typically, the wealthiest Americans derive a lot of income from investments, which are often taxed at a lower rate than ordinary income such as wages. As a result, they can end up owing a lower percentage of their income in federal taxes than someone who makes far less money, especially once payroll taxes are factored in.
The concept of the Buffett Rule is that those earning more than $1 million should not be allowed to pay a lesser percent of their income in federal taxes than Americans lower down the income scale.
War savings: $1.1 trillion.
The administration is counting the reduction in spending in Iraq and Afghanistan over the next decade that will result from the planned drawdown of troops and the changing nature of the operations in those countries.
In addition, the administration is counting savings that would result from spending caps it has proposed on future overseas contingency operations.
Interest savings: $430 billion.
Whenever policies are changed to lower future deficits, those deficits are reduced in part because of the interest costs that will be saved from less borrowing.

and actually war spending does count, since it was Obama who put the wars in the general budget and not under emergency spending measures. (unlike the Bush administration)

why not cut defense? because spending more than the next 10 countries in the world combined is acceptable?

Bush spent more day on vacation at his ranch in Texas than all other president did during their tenure. did you deride him for that?

now what has the GOP proposed other than jack and shit?? ive been waiting for the GOP plan since 2011 when they walked away from the grand bargain. so put up or shut up.

 

[Zuer]

1. No one said raising the income tax on top earners is the solution to the deficit problem. It is a PART, possibly a small part on the solution.

2. Tax moneys are NOT taken out of economy. To really take a dollar out of economy you would have to ship it to the moon. But then again, you would have to employ people to enact such shipment and that would be economic growth. Tax money is returned into the economy from another entry point. You give a poor family money for food, they spend it. You give the family housing subsidy, they have a larger part of their income left intact and they spend it.

3. If high tax rates were death to economy, as the right-wingers say, Scandinavia would be a scorched desert. Forget Scandinavia, - EVERY developed country, including Canada, Australia, Japan, - has tax rates much higher than the US. And Sweden actually has a balanced budget. And Sweden actually has a trade SURPLUS. Easily verifiable facts, bro.

 

[Jarhead]

1. No one said raising the income tax on top earners is the solution to the deficit problem. It is a PART, possibly a small part on the solution.

2. Tax moneys are NOT taken out of economy. To really take a dollar out of economy you would have to ship it to the moon. But then again, you would have to employ people to enact such shipment and that would be economic growth. Tax money is returned into the economy from another entry point. You give a poor family money for food, they spend it. You give the family housing subsidy, they have a larger part of their income left intact and they spend it.

3. If high tax rates were death to economy, as the right-wingers say, Scandinavia would be a scorched desert. Forget Scandinavia, - EVERY developed country, including Canada, Australia, Japan, - has tax rates much higher than the US. And Sweden actually has a balanced budget. And Sweden actually has a trade SURPLUS. Easily verifiable facts, bro.

Higher taxes during a recovery is suicide.

 

[LeftCoastVoter]

1. No one said raising the income tax on top earners is the solution to the deficit problem. It is a PART, possibly a small part on the solution.

2. Tax moneys are NOT taken out of economy. To really take a dollar out of economy you would have to ship it to the moon. But then again, you would have to employ people to enact such shipment and that would be economic growth. Tax money is returned into the economy from another entry point. You give a poor family money for food, they spend it. You give the family housing subsidy, they have a larger part of their income left intact and they spend it.

3. If high tax rates were death to economy, as the right-wingers say, Scandinavia would be a scorched desert. Forget Scandinavia, - EVERY developed country, including Canada, Australia, Japan, - has tax rates much higher than the US. And Sweden actually has a balanced budget. And Sweden actually has a trade SURPLUS. Easily verifiable facts, bro.

Higher taxes during a recovery is suicide.

proof?

CHART: Lower Taxes On The Rich Don't Lead To Job Growth | ThinkProgress

 

[Jarhead]

1. No one said raising the income tax on top earners is the solution to the deficit problem. It is a PART, possibly a small part on the solution.

2. Tax moneys are NOT taken out of economy. To really take a dollar out of economy you would have to ship it to the moon. But then again, you would have to employ people to enact such shipment and that would be economic growth. Tax money is returned into the economy from another entry point. You give a poor family money for food, they spend it. You give the family housing subsidy, they have a larger part of their income left intact and they spend it.

3. If high tax rates were death to economy, as the right-wingers say, Scandinavia would be a scorched desert. Forget Scandinavia, - EVERY developed country, including Canada, Australia, Japan, - has tax rates much higher than the US. And Sweden actually has a balanced budget. And Sweden actually has a trade SURPLUS. Easily verifiable facts, bro.

Higher taxes during a recovery is suicide.

proof?

CHART: Lower Taxes On The Rich Don't Lead To Job Growth | ThinkProgress

I said higher taxes during a recovery is suicide. It has nothing to do with job growth. During a recovery, business owners are licking their wounds....trying to pay off their debt accumulated during the recession. Trying to catch up with their vendors who let them slide during the recession...(and of course that trickles down)...Taking more money out of their pockets is counter productive. It does not allow them to rebound. It keeps them in the same mode they were in during the recession.

 

[Jarhead]

1. No one said raising the income tax on top earners is the solution to the deficit problem. It is a PART, possibly a small part on the solution.

2. Tax moneys are NOT taken out of economy. To really take a dollar out of economy you would have to ship it to the moon. But then again, you would have to employ people to enact such shipment and that would be economic growth. Tax money is returned into the economy from another entry point. You give a poor family money for food, they spend it. You give the family housing subsidy, they have a larger part of their income left intact and they spend it.

3. If high tax rates were death to economy, as the right-wingers say, Scandinavia would be a scorched desert. Forget Scandinavia, - EVERY developed country, including Canada, Australia, Japan, - has tax rates much higher than the US. And Sweden actually has a balanced budget. And Sweden actually has a trade SURPLUS. Easily verifiable facts, bro.

the proposed increase on the higher earners will result in 80 billion a year in revenue. Our deficit per year is 1.2 Trillion. That being said, our debt will still increase by 1.1 trillion a year.....and by the end of Obamas second term it will be well over 20 Trillion...approaching 21 trillion.

You can not tell me that his proposed tax increase without any viable substantial cuts in spending is an attempt to decrease the debt.

 

[LeftCoastVoter]

Higher taxes during a recovery is suicide.

proof?

CHART: Lower Taxes On The Rich Don't Lead To Job Growth | ThinkProgress

I said higher taxes during a recovery is suicide. It has nothing to do with job growth. During a recovery, business owners are licking their wounds....trying to pay off their debt accumulated during the recession. Trying to catch up with their vendors who let them slide during the recession...(and of course that trickles down)...Taking more money out of their pockets is counter productive. It does not allow them to rebound. It keeps them in the same mode they were in during the recession.

there are plenty of way to write exceptions into the code for small business. the best thing to actually do would be to make it so that small business owners do not report business income as personal income. this would change tax liability on them tremendously. if congress would make this simple change, then business income and personal income would always be separate. and you could reduce business taxes and raise personal income taxes for high wage earners and the middle / lower class would be insulated. why is no one talking about this?

 

[LeftCoastVoter]

1. No one said raising the income tax on top earners is the solution to the deficit problem. It is a PART, possibly a small part on the solution.

2. Tax moneys are NOT taken out of economy. To really take a dollar out of economy you would have to ship it to the moon. But then again, you would have to employ people to enact such shipment and that would be economic growth. Tax money is returned into the economy from another entry point. You give a poor family money for food, they spend it. You give the family housing subsidy, they have a larger part of their income left intact and they spend it.

3. If high tax rates were death to economy, as the right-wingers say, Scandinavia would be a scorched desert. Forget Scandinavia, - EVERY developed country, including Canada, Australia, Japan, - has tax rates much higher than the US. And Sweden actually has a balanced budget. And Sweden actually has a trade SURPLUS. Easily verifiable facts, bro.

the proposed increase on the higher earners will result in 80 billion a year in revenue. Our deficit per year is 1.2 Trillion. That being said, our debt will still increase by 1.1 trillion a year.....and by the end of Obamas second term it will be well over 20 Trillion...approaching 21 trillion.

You can not tell me that his proposed tax increase without any viable substantial cuts in spending is an attempt to decrease the debt.

$80 B is the tax revenue increase, coupled with the spending reductions we start to make headway. the right just refuses to admit that Obama has actually proposed spending cuts. look at the grand bargain the Boehner walked away from. it included spending cuts to entitlements and other government programs.

Grand Bargain Documents: Obama, Debt Ceiling - Business Insider

 

[Jarhead]

proof?

CHART: Lower Taxes On The Rich Don't Lead To Job Growth | ThinkProgress

I said higher taxes during a recovery is suicide. It has nothing to do with job growth. During a recovery, business owners are licking their wounds....trying to pay off their debt accumulated during the recession. Trying to catch up with their vendors who let them slide during the recession...(and of course that trickles down)...Taking more money out of their pockets is counter productive. It does not allow them to rebound. It keeps them in the same mode they were in during the recession.

there are plenty of way to write exceptions into the code for small business. the best thing to actually do would be to make it so that small business owners do not report business income as personal income. this would change tax liability on them tremendously. if congress would make this simple change, then business income and personal income would always be separate. and you could reduce business taxes and raise personal income taxes for high wage earners and the middle / lower class would be insulated. why is no one talking about this?

There is a reason enterpeneurs become s-corps....as I did (reitred now)....having the revnue flow through personal income has advantages...too many for me to get into. But the bottom line is still the same...if you take more money out of the pockets of the business owner during a recovery, they..their companies...will not enjoy the recovery.

Look at it this way...if you were making 50K a year....and you got a raise to 60K a year.....but at the same time your living expenses for the exact same lifestyle suddenly increased by 10K a year.....you are still living the life you were living when you were making 50K a year....and if you were struggling at 50K a year....you would now be struggling at 60K a year...even though your revenue increased by 10K.