How Does the "Buffet Rule" Fix our national Debt or budget Defecits?

[PLYMCO_PILGRIM]

What a huge waste of time this was.
This was political theater.Everyone knew that this was going no where.

Thats what bothered me about it. We have serious, pressing, and emminent problems with the debt and the president is just playing games with us about it.

Not that the reps are being much better but they aren't in charge of the executive branch or the senate so I'm more pissed at the people who have the reigns and are using them to lead us down some stupid, politics only, road in regards to the problem.

I love how you consider the debt a problem and then in the same sentence say that reducing the debt is just a game

You misunderstood what I wrote.

The national Debt is a serious probloem

That is why this whole "Buffet Rule" business in congress bothered me, the Buffet Rule is just a "game" for political points scoring. The fact that congress and the president are treating it as such is what aggrivates me.

 

[sealybobo]

The Buffett Rule doesn't solve the debt or deficit. But it shows that the rich are also willing to sacrafice. Right now, only we are sacraficing. In reality, this will only pay for 4 months in Afganistan. But its a gesture and would go a long way.

How is Romney going to solve the

a. Deficit? Economists say his plan makes no sense and does not fix the deficits.

b. Debt. What is Romney's solution to the trillions we are in debt. Doesn't have one? Didn't think so.

How has Paul Ryan's cuts impacted the deficit or debt? Drop in the bucket? That didn't stop him.

 

[PLYMCO_PILGRIM]

The Buffett Rule doesn't solve the debt or deficit. But it shows that the rich are also willing to sacrafice. Right now, only we are sacraficing. In reality, this will only pay for 4 months in Afganistan. But its a gesture and would go a long way.

How is Romney going to solve the

a. Deficit? Economists say his plan makes no sense and does not fix the deficits.

b. Debt. What is Romney's solution to the trillions we are in debt. Doesn't have one? Didn't think so.

How has Paul Ryan's cuts impacted the deficit or debt? Drop in the bucket? That didn't stop him.

a) Well congress hasn't passed a budget in 3 years so it is hard to see what we are up against as a nation but my answer to "b" will also apply to "a"

b) Romney's solution is to cut back spending on government programs, eliminating some programs, shrinking others. Also a general cut-back on government spending across the board. He has also talked about raising revenues through eliminating tax loopholes and tax exemptions that currently exist, I'm not sure which specific ones he has in mind yet but those are 2 parts of his plans. He has MANY MANY more things planned out..if you are curious check this link http://www.mittromney.com/sites/def...America-PlanForJobsAndEconomicGrowth-Full.pdf

 

[Toddsterpatriot]

The "Buffet Rule" would raise around 5 Billion dollars a year in tax revenue according to all the sources

Obama's Buffett Rule: A minimum tax for millionaires - Apr. 9, 2012
Buffett rule won
Buffett Rule: Doomed Congressional Tax Debate May Tilt 2012 Election

Our annual budget defecits have been over 1 Trillion dollars a year

Rising revenues narrow deficit, but for how long? - BostonHerald.com



So 5 billion is 0.5% of our annual budget defecit, how does this buffet rule help america?


This is a question that assumes people understand basic economics and historical data on taxes. For example, the raise of the capital gains tax has been shown to actually lower the federal captial gain's tax revenues due to the impacts as explained through the laffer curve.

What about raising the capital gain tax and lower the corporate tax.

Eg. capital gain tax(15% today)-> Make it 28%.
Corporate tax (35% today)-> Make it 22%.
Just an example, but their are probobaly computer programs that can calculate this.

The conecept, higher capital gain tax to stop sepculations and rich people taking out huge dividends and lower corporate taxes to stimulate corporations to hire more people.
Then put a wealth tax on the rich that have build up large fortunes because of a low capital gain tax. A property tax on house/apartment nr.2,3 etc not nr.1(everybody should own a house)
The potential in USA is to take in more taxes from the rich, that dont contribute enough.

A low capital gain tax is just more welfare for the rich.
If the capital gain tax is raised and corporate tax lowered. Corporations are stimulated to hire and rich people will have to work more since taking out capital gain will be less attractive than working.

Since corporate tax<Capital gain tax.

Make them both 20%.

The potential in USA is to take in more taxes from the rich, that dont contribute enough.

Don't contribute enough? How do you figure?

 

[sealybobo]

The Buffett Rule doesn't solve the debt or deficit. But it shows that the rich are also willing to sacrafice. Right now, only we are sacraficing. In reality, this will only pay for 4 months in Afganistan. But its a gesture and would go a long way.

How is Romney going to solve the

a. Deficit? Economists say his plan makes no sense and does not fix the deficits.

b. Debt. What is Romney's solution to the trillions we are in debt. Doesn't have one? Didn't think so.

How has Paul Ryan's cuts impacted the deficit or debt? Drop in the bucket? That didn't stop him.

a) Well congress hasn't passed a budget in 3 years so it is hard to see what we are up against as a nation but my answer to "b" will also apply to "a"

b) Romney's solution is to cut back spending on government programs, eliminating some programs, shrinking others. Also a general cut-back on government spending across the board. He has also talked about raising revenues through eliminating tax loopholes and tax exemptions that currently exist, I'm not sure which specific ones he has in mind yet but those are 2 parts of his plans. He has MANY MANY more things planned out..if you are curious check this link http://www.mittromney.com/sites/def...America-PlanForJobsAndEconomicGrowth-Full.pdf

But Romney isn't saying what he'll cut. Because he will cut ss and medicare and that is very unpopular. He should come clean with what he'll cut.

But republicans don't campaign on what they will do. Who knew they would appoint emergency financial managers to replace government officials? Who knew they would attack birth control or collective bargaining? If they said what they would cut, they would not win. So they stay vague.

And economists say his plan is a joke.

So he will eliminate some loopholes? Which ones specifically?

 

[Crackerjack]

The Buffett Rule doesn't solve the debt or deficit. But it shows that the rich are also willing to sacrafice. Right now, only we are sacraficing. In reality, this will only pay for 4 months in Afganistan. But its a gesture and would go a long way.

It's not about the money, it's about class warfare. Got it.

 

[PLYMCO_PILGRIM]

The Buffett Rule doesn't solve the debt or deficit. But it shows that the rich are also willing to sacrafice. Right now, only we are sacraficing. In reality, this will only pay for 4 months in Afganistan. But its a gesture and would go a long way.

How is Romney going to solve the

a. Deficit? Economists say his plan makes no sense and does not fix the deficits.

b. Debt. What is Romney's solution to the trillions we are in debt. Doesn't have one? Didn't think so.

How has Paul Ryan's cuts impacted the deficit or debt? Drop in the bucket? That didn't stop him.

a) Well congress hasn't passed a budget in 3 years so it is hard to see what we are up against as a nation but my answer to "b" will also apply to "a"

b) Romney's solution is to cut back spending on government programs, eliminating some programs, shrinking others. Also a general cut-back on government spending across the board. He has also talked about raising revenues through eliminating tax loopholes and tax exemptions that currently exist, I'm not sure which specific ones he has in mind yet but those are 2 parts of his plans. He has MANY MANY more things planned out..if you are curious check this link http://www.mittromney.com/sites/def...America-PlanForJobsAndEconomicGrowth-Full.pdf

But Romney isn't saying what he'll cut. Because he will cut ss and medicare and that is very unpopular. He should come clean with what he'll cut.

But republicans don't campaign on what they will do. Who knew they would appoint emergency financial managers to replace government officials? Who knew they would attack birth control or collective bargaining? If they said what they would cut, they would not win. So they stay vague.

And economists say his plan is a joke.

So he will eliminate some loopholes? Which ones specifically?

I told you I didn't know which loopholes in my other post but gave you a link to his 80+ page description of what he is going to do.

 

[gallantwarrior]

The Buffett Rule doesn't solve the debt or deficit. But it shows that the rich are also willing to sacrafice. Right now, only we are sacraficing. In reality, this will only pay for 4 months in Afganistan. But its a gesture and would go a long way.

How is Romney going to solve the

a. Deficit? Economists say his plan makes no sense and does not fix the deficits.

b. Debt. What is Romney's solution to the trillions we are in debt. Doesn't have one? Didn't think so.

How has Paul Ryan's cuts impacted the deficit or debt? Drop in the bucket? That didn't stop him.

a) Well congress hasn't passed a budget in 3 years so it is hard to see what we are up against as a nation but my answer to "b" will also apply to "a"

b) Romney's solution is to cut back spending on government programs, eliminating some programs, shrinking others. Also a general cut-back on government spending across the board. He has also talked about raising revenues through eliminating tax loopholes and tax exemptions that currently exist, I'm not sure which specific ones he has in mind yet but those are 2 parts of his plans. He has MANY MANY more things planned out..if you are curious check this link http://www.mittromney.com/sites/def...America-PlanForJobsAndEconomicGrowth-Full.pdf

But Romney isn't saying what he'll cut. Because he will cut ss and medicare and that is very unpopular. He should come clean with what he'll cut.

But republicans don't campaign on what they will do. Who knew they would appoint emergency financial managers to replace government officials? Who knew they would attack birth control or collective bargaining? If they said what they would cut, they would not win. So they stay vague.

And economists say his plan is a joke.

So he will eliminate some loopholes? Which ones specifically?

It is politically irrelevant what he will cut. Anything cut will be unpopular with one faction or another. Right now, it's important to present the impression that he agrees with cutting programs to save money. In order to maintain his base, he cannot reveal which cuts, if any, he might actually support
Politics as usual.