Dems love that "millionaire's tax"...

Discussion in 'Politics' started by chanel, May 12, 2010.

  1. chanel
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    chanel Silver Member

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    N.J. Democrats propose tax hike on those making more than $1M | - NJ.com

    Didn't they try this in CA and NY? Hmmmm.
     
  2. Bfgrn
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    Bfgrn Gold Member

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    [ame=http://www.youtube.com/watch?v=8qANEMK8uAo&feature=related]YouTube - Help Our Schools, Not Millionaires[/ame]
     
  3. chanel
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    chanel Silver Member

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    Propaganda. Christie did not "ax the tax" It expired and was not renewed by the Dems. From the article - the millionaire's tax is not intended for education. They want it for proerty tax rebates which are a total sham in my opinion. The Homestead Rebate costs millions to administer. Let people keep their own damn money and then they can save the stamp mailing it back. So simple...
     
  4. Bfgrn
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    Bfgrn Gold Member

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    It's not that liberals love that "millionaire tax", it just that we hate when our children's lives are considered negotiable.

    Education is the cheap defense of nations.
    Edmund Burke

    Gov. Chris Christie's budget: Deep cuts to N.J. schools are unavoidable without income tax surtax on the wealthy

    Gov. Chris Christie is moving to deliver a powerful punch to the jaw of New Jersey’s public school system.

    His insistence on lower taxes for the state’s wealthiest families is forcing deep cuts that will do real damage. In the face of rising costs and signed labor contracts, he asks the state’s schools to abruptly reduce spending by 5 percent in one year.

    That’s going to cause havoc. It will force substantial layoffs of teachers and other personnel, who make up roughly 80 percent of the costs in most districts. It will translate into larger class sizes and stingier offerings. It will inevitably damage student performance. And it will diminish the allure of teaching as a profession, planting the seeds for long-term decay of educational quality.

    Christie says this is unavoidable, given the need to close a large budget gap. But that’s just not true. The math here is undeniable.

    These education cuts amount to $820 million. Christie’s refusal to extend the surtax on families earning more than $400,000 will cost the state treasury $900 million, by the treasurer’s latest estimate. In other words, extending the surtax would allow him to cancel these school cuts.

    Gov. Chris Christie's budget: Deep cuts to N.J. schools are unavoidable without income tax surtax on the wealthy | NJ.com
     
  5. skookerasbil
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    skookerasbil Gold Member

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    only lefties think jobs are created by poor people..................
     
  6. G.T.
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    G.T. Diamond Member

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    Jobs are created by the middle class.
     
  7. skookerasbil
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    skookerasbil Gold Member

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    Governor Christie....................

    Who cant love this guy? First politician in a long, long time that actually has some balls.............displaying leadership no Dem would even dream of thinking of displaying!!!!


    Oh....as an aside......can somebody answer me this?

    Why is it that every single liberal on this board rails against with wealthy 24/7 but NEVER has a thing to say about the obscene pension packages of the millions and millions of public service employees??? Oh wiat I get it........all wealthy people should obviously pay for people to be sitting on their ass for the last 30 years of their life collecting 75K to 100K a year. Clearly the American way!!!!



    [​IMG]
     
  8. Mr. Shaman
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    Mr. Shaman Senior Member

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    Take it, easy, everyone.

    We'll be defaulting (back) to Sanity, later this year.​

     
  9. Bfgrn
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    Bfgrn Gold Member

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    Guess what pea brain...30 years and STILL waiting for trickle UP to turn into trickle down.

    Reagan: The great American Socialist

    Let’s go back to the early 1980’s. In 1981, Reagan signed a law that sharply reduced the income tax for the wealthiest Americans and corporations.

    The president asserted his program would create jobs, purge inflation and, get this, trim the budget deficit.

    However, following the tax cut, the deficit soared from 2.5 percent of GDP to over 6 percent, alarming financial markets, sending interest rates sky high, and culminating in the worst recession since the 1930’s.

    INTEREST RATES

    Soon the president realized he needed new revenues to trim the deficit, bring down interest rates and improve his chances for reelection. He would not rescind the income tax cut, but other taxes were acceptable.

    In 1982, taxes were raised on gasoline and cigarettes, but the deficit hardly budged. In 1983, the president signed the biggest tax rise on payrolls, promising to create a surplus in the Social Security system, while knowing all along that the new revenue would be used to finance the deficit.

    The retirement system was looted from the first day the Social Security surplus came into being, because the legislation itself gave the president a free hand to spend the surplus in any way he liked.

    Thus began a massive transfer of wealth from the poor and the middle class, especially the self-employed small businessman, to the wealthy. The self-employment tax jumped as much as 66 percent.

    In 1986, Reagan slashed the top tax rate further. His redistributionist obsession led to a perversity in the law. The wealthiest faced a 28 percent tax rate, while those with lower incomes faced a 33 percent rate; in addition, the bottom rate climbed from 11 percent to 15 percent.

    For the first time in history, the top rate fell and the bottom rate rose simultaneously. Even unemployment compensation was not spared. The jobless had to pay income tax on their benefits.

    A year later, the man who would not spare unemployment compensation from taxation called for a cut in the capital gains tax.

    Thus, Reagan was a staunch socialist, totally committed to his cause of wealth redistribution towards the affluent.How much wealth transfer has occurred through Reagan’s policies? At least $3 trillion.

    DEFICITS

    The Social Security hike generated over $2 trillion in surplus between 1984 and 2007, and if it had been properly invested, say, in AAA corporate bonds it could have earned another trillion by now.

    At present, the fund is empty, because it has been used up to finance the federal deficits resulting from frequent cuts in income tax rates. If this is not redistribution of wealth from the poor to the rich, what else is?

    Thus, Reagan was the first Republican socialist - and a great one, because his wealth transfer occurred on a massive scale. His accomplishment dwarfs even FDR’s, and if today the small businessman suffers a crippling tax burden, he must thank Reagan the redistributionist.

    However, FDR took pains to help the poor, while Reagan took pains to help the wealthiest like himself.

    Reagan’s measures were similar to those that the Republicans adopted during the 1920s, which were followed by the catastrophic depression. More recently, such policies were mimicked by President George W. Bush and they are about to plunge the world into a depression as well.

    Ironically, the Reagan-style socialism or wealth redistribution is about to destroy monopoly capitalism, the very system that he wanted to preserve and enrich.
     
  10. skookerasbil
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    skookerasbil Gold Member

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