H.R. 5029 - Economic Freedom Act of 2010

Discussion in 'Politics' started by Foxfyre, Apr 28, 2010.

  1. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    For those who say the Republicans are the party of 'no' and have no ideas, Jim Jordan (R-Ohio) introduced H.R. 5020 - Economic Freedom Act of 2010 - recently. It is still in committee and the Democratic majority probably will not allow it out of committee this year.

    The bill has a number of supporters however and, should the Republicans achieve a majority in November, they will bring it to a vote on the House floor early in 2011.

    Basically the bill proposes the following:

    1) Eliminate the capital gains tax.
    2) Reduce the corporate tax rate to 12.5%.
    3) Permanently eliminate the death tax.
    4) Provide immediate business expensing.
    5) Reduce the payroll tax by half for 2010.
    6) Repeal the "stimulus" spending (except for unemployment benefits and the tax cuts).
    7) Terminate the TARP program.

    Would you vote for this? Why or why not?
     
  2. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Where is the Economic Freedom? I see nothing that reduces the deficit, nothing to balance the budget, nothing on responsible spending.

    Its just another irresponsible Republican tax cut
     
  3. Modbert
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    Modbert Daydream Believer Supporting Member

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    So basically help the rich, help the rich, help the rich, don't actually solve any of the problems with Wall Street. Yup, typical Republican bill these days.
     
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  4. Modbert
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    Modbert Daydream Believer Supporting Member

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    And here's me thinking that we were just told tax cuts are called the work of socialists the other day. Go figure.
     
  5. Thinman
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    Thinman Active Member

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    I would vote for it. Number 5 would put money in everyones pocket. Number 2 would stop most corporate migration to other countries. Number 1 would stimulate investment.

    What's not to like?
     
  6. EriktheRed
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    EriktheRed Eh...

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    Yup, they got ideas. The same crap that's they've always pushed, but they're ideas, I guess.
     
  7. EriktheRed
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    EriktheRed Eh...

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    [​IMG]
     
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  8. Thinman
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    Thinman Active Member

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    You're right. Spending has to stop. Number 6 & 7 will help with that. Congress can balance the budget anytime they want; they just need the balls and the will to make the hard choices.

    Stimulating the economy means jobs and that means more tax revenue.

    Lowering the corporate tax rate brings foriegn companies to America instead of American companies to foriegn countries.

    Rich people don't have to make money. They can sit back and enjoy life with no income at all, so, they don't pay tax at all. Eliminate capitol gains tax and they will invest their fortunes and thus, stimulate our economy.

    This bill has it right, first things first, get the economy working.
     
  9. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    You bought all that "Tinkle down" crap didn't you?

    If you want true economic freedom then balance the freaking budget. No tax cuts without equivalent cuts in spending.
     
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  10. Thinman
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    Thinman Active Member

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    I agree with you. I am in favor of spending cuts. Start with TARP and stimulus, then stop all earmarks when we have a deficit, end useless government agencies and layoff the people staffing them. It is like I said, Congress can balance the budget.
     

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