Discussion in 'Economy' started by Toro, Apr 17, 2009.
Tax Tea Party Time, Part Two - Forbes.com
Whenever you hear conservatives arguing how much tax the wealthiest pay, they inevitably cite to statistics to the income tax, which makes up less that 50% of all tax revenues, and leave out things like the SS taxes, which the working poorer disproportionately pay (since its not taxed on income over about $100,000.
The Bush tax cuts were largely financed by taking the surplus Bush inhereted and borrowing trillions. And as your data shows, the 00s for the richest under the Republican have been the golden time of high incomes and low taxes; at least until the financial system imploded.
Well, I think he's kind of missing the boat here. The Tea Parties weren't just about taxes, but rampant government spending that we will have to pay for one day.
George W. Bush didn't get an approval rating below 30% for being a great president. The only reason the Democrats took Congress in 2007 and Obama took the presidency in 2009 was because the "George W. Bush" Republicans failed. When Obama started continuing the failed policies of the Bush Administration, enough was enough. There were many Democrats who participated in the Tea Parties and people like Newt Gingrich put a lot of the blame on GWB.
I think you're also missing the boat here.
I didn't vote for Obama because I thought the Bush administration was wrong in how it addressed the financial crises and mortgage meltdown.
I voted for him because of the 8 years of failed policies of tax cuts, mistaken wars and military buildups put this country another $5 trillion in debt, and because Republican "blind eye" atittude towards business regulation helped let a debacle like the mortgage meltdown happen. And McCain promised another 4 years of exactly the same.
The Bush administration did OK on handling the crisis once it happened, except maybe dolling out stimulus money without sufficient safeguards.
Thankfully Obama's administration is continuing this stimulus policy to avert another depression.
Not at all. There were plenty of people who voted for Obama because they believed in 'hope' and 'change'. What I'm saying is that there were enough people who didn't want to vote for the GOP that Obama won by default.
Now certainly, you have your own view of what happened and what should be done and I have mine. You're a Keynesian and I'm not.
Since inflation is a tax caused by excessive government spending, tabulate CPIs since 1958 and add that to determine rate.
1. It's not caused by excessive government spending. There is no correlatio between inflation and spending.
2. Inflation is not a tax. It doesn't go to the government and you don't pay it.
You have a good point. The fact that a relatively inexperienced black man beat the incumbent party certainly suggests that.
I'm not sure if I'd adopt everything represented by a "Keynsian" but OK.
Moreover, I do agree that McCain wouldn't have been any different. He's a Keynesian as well. We need to have a systemic change, not just a political one.
Nope not over taxed at all, always room to tax us more.
Barack Obama Disciple of Saul Alinsky
Marxist Origins of Communism, III
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