Jon Kyl: Extend Bush Tax Cuts For Wealthy Even If They Add To Deficit

[Modbert]

This is just a taste of what we get in November when the Republicans take back the house and get closer in the senate.

Jon Kyl: Extend Bush Tax Cuts For Wealthy Even If They Add To Deficit

Top Senate Republican Jon Kyl (R-Ariz.) insisted on Sunday that Congress should extend the Bush tax cuts for the wealthiest Americans regardless of their impact on the deficit, even as he and other Republicans are blocking unemployment insurance extensions over deficit concerns.

"Surely Congress has the authority, and it would be right to -- if we decide we want to cut taxes to spur the economy, not to have to raise taxes in order to offset those costs. You do need to offset the cost of increased spending, and that's what Republicans object to. But you should never have to offset cost of a deliberate decision to reduce tax rates on Americans."

As Steve Benen at the Washington Monthly notes:

It's quite a message to Americans: Republicans believe $30 billion for unemployment benefits don't even deserve a vote because the money would be added to the deficit, but Republicans also believe that adding the cost of $678 billion in tax cuts for the wealthy to the deficit is just fine.

The chart below shows the deficit impact of the Bush tax cuts over the next decade.

Least we know whose interests top Republicans like Jon Kyl have in mind. Thoughts USMB?

 

[Truthmatters]

But dont give any more unemployment to the people without paying for it first

 

[elvis]

Yeah because Hoover's tax increases pulled us out of economic turmoil. Oh wait.

 

[jillian]

Yeah because Hoover's tax increases pulled us out of economic turmoil. Oh wait.

because giving a tax break to rich people sure stimulated the economy.

 

[midcan5]

This should surprise no one with a bit of education and a simple observation of American politics.

What Is Conservatism and What Is Wrong with It?

Q: What is conservatism?

A: Conservatism is the domination of society by an aristocracy.

Q: What is wrong with conservatism?

A: "Conservatism is incompatible with democracy, prosperity, and civilization in general. It is a destructive system of inequality and prejudice that is founded on deception and has no place in the modern world.
These ideas are not new. Indeed they were common sense until recently. Nowadays, though, most of the people who call themselves "conservatives" have little notion of what conservatism even is. They have been deceived by one of the great public relations campaigns of human history. Only by analyzing this deception will it become possible to revive democracy in the United States."


Who conservatives care for: The Conservative Nanny State


Conservative support: [ame=http://www.amazon.com/Invisible-Hands-Making-Conservative-Movement/dp/0393059308/ref=sr_1_1?ie=UTF8]Amazon.com: Invisible Hands: The Making of the Conservative Movement from the New Deal to Reagan (9780393059304): Kim…[/ame]

.

 

[Modbert]

Yeah because Hoover's tax increases pulled us out of economic turmoil. Oh wait.

What other Presidents cut taxes in the middle of a war? Never mind two wars and a recession. As for Hoover, it's funny you mention that:

http://en.wikipedia.org/wiki/Herbert_Hoover#Great_Depression

Prior to the start of the Great Depression, Hoover's first Treasury Secretary, Andrew Mellon, proposed and saw enacted, numerous tax cuts, which cut the top income tax rate from 73% to 24%. When combined with the sharp decline in incomes during the early depression, the result was a serious deficit in the federal budget. Congress, desperate to increase federal revenue, enacted the Revenue Act of 1932, which was the largest peacetime tax increase in history.[47]. The Act increased taxes across the board, so that top earners were taxed at 63% on their net income. The 1932 Act also increased the tax on the net income of corporations from 12% to 13.75%.

I recall someone cutting the top income tax rate nearly 50%? What was his name?



Oh, right!

Hoover's problem in the first place was raising it so far back up that it constricted and created monetary concerns. Having the tax rate go up a mere 4% isn't going to create such problems.

The Great Depression: The sequel - U.S. Economy - Salon.com

From April 2008:

Now, once you've digested just how slender are the threads upon which modern financial markets hang, here are some more numbers to chomp on: Last October, citing Internal Revenue Service data, the Wall Street Journal reported that the top 1 percent of Americans earned 21.2 percent of all income in 2005. That's the highest measure of income inequality since, you guessed it, before the Great Depression. The numbers may be off that peak for 2008, given the carnage on Wall Street, and all those investment bankers trying to sell their weekend homes in the Hamptons into a sagging real estate market. But not by much.

I'm not saying tax the rich to death. I'm merely saying that history has a way of repeating itself.

 

[Gremlin-USA]

Asked to expand on his tweets, Gibbs declined comment, save to clarify that "the question [host Chris] Wallace specifically asked Kyl was [about] the upper end of the Bush tax cuts (above $250,000)."

Considering 80% of People who show an Income on their Federal Tax Forms of over 250,000.00 are small business owners, a tax increase (or letting tax cuts expire) would hurt the Employment situation even more.

Most small business owners have put off hiring workers because of the recession, now if suddenly on Jan 1st 2011 the Government causes them to owe more Taxes, does anyone really think these small business owners are going to start hiring people? No they are not in fact they may law off more workers because the cost of doing business will be increasing.

.

 

[Soggy in NOLA]

Oh goody... another "we don't pay enough taxes" thread.

 

[Soggy in NOLA]

This should surprise no one with a bit of education and a simple observation of American politics.

What Is Conservatism and What Is Wrong with It?

Q: What is conservatism?

A: Conservatism is the domination of society by an aristocracy.

Q: What is wrong with conservatism?

A: "Conservatism is incompatible with democracy, prosperity, and civilization in general. It is a destructive system of inequality and prejudice that is founded on deception and has no place in the modern world.
These ideas are not new. Indeed they were common sense until recently. Nowadays, though, most of the people who call themselves "conservatives" have little notion of what conservatism even is. They have been deceived by one of the great public relations campaigns of human history. Only by analyzing this deception will it become possible to revive democracy in the United States."


Who conservatives care for: The Conservative Nanny State


Conservative support: Amazon.com: Invisible Hands: The Making of the Conservative Movement from the New Deal to Reagan (9780393059304): Kim…

.

So.... when were you officially declared insane?

 

[Truthmatters]

Oh goody... another "we don't pay enough taxes" thread.

Its not we asshole, you dont make enough money to part of the group being discussed

 

[topspin]

Nice Yat Burn!!

 

[Soggy in NOLA]

CEPR???? Are you joking?

 

[Soggy in NOLA]

Wow... a liberal quoting progressives. There's some credibility.

 

[Soggy in NOLA]

Oh goody... another "we don't pay enough taxes" thread.

Its not we asshole, you dont make enough money to part of the group being discussed

In English please.

 

[topspin]

you know it desh, most of these republiklansman make way less than $250,000

 

[The Rabbi]

This is just a taste of what we get in November when the Republicans take back the house and get closer in the senate.

Jon Kyl: Extend Bush Tax Cuts For Wealthy Even If They Add To Deficit

Top Senate Republican Jon Kyl (R-Ariz.) insisted on Sunday that Congress should extend the Bush tax cuts for the wealthiest Americans regardless of their impact on the deficit, even as he and other Republicans are blocking unemployment insurance extensions over deficit concerns.

"Surely Congress has the authority, and it would be right to -- if we decide we want to cut taxes to spur the economy, not to have to raise taxes in order to offset those costs. You do need to offset the cost of increased spending, and that's what Republicans object to. But you should never have to offset cost of a deliberate decision to reduce tax rates on Americans."

As Steve Benen at the Washington Monthly notes:

It's quite a message to Americans: Republicans believe $30 billion for unemployment benefits don't even deserve a vote because the money would be added to the deficit, but Republicans also believe that adding the cost of $678 billion in tax cuts for the wealthy to the deficit is just fine.

The chart below shows the deficit impact of the Bush tax cuts over the next decade.

View attachment 10839

Least we know whose interests top Republicans like Jon Kyl have in mind. Thoughts USMB?

My thought is you are a dishonest lying fuck. Kyl did not say what you are putting in his mouth.
How will discouraging the most productive members of our society from producing more increase economic activity?
People here just don't get it that gov't does not spend money. It simply takes from one party and gives to another. In this case, as in unemployment, they are taking from the most productive people and giving to the least productive. This is why this recession is lingering on at record lengths. We should have been seeing clear recovery by now and we're not.

 

[Soggy in NOLA]

you know it desh, most of these republiklansman make way less than $250,000

Really? So.. you are saying it is the Democrats that are the party of the rich?

 

[Soggy in NOLA]

This is just a taste of what we get in November when the Republicans take back the house and get closer in the senate.

Jon Kyl: Extend Bush Tax Cuts For Wealthy Even If They Add To Deficit

Top Senate Republican Jon Kyl (R-Ariz.) insisted on Sunday that Congress should extend the Bush tax cuts for the wealthiest Americans regardless of their impact on the deficit, even as he and other Republicans are blocking unemployment insurance extensions over deficit concerns.

"Surely Congress has the authority, and it would be right to -- if we decide we want to cut taxes to spur the economy, not to have to raise taxes in order to offset those costs. You do need to offset the cost of increased spending, and that's what Republicans object to. But you should never have to offset cost of a deliberate decision to reduce tax rates on Americans."

The chart below shows the deficit impact of the Bush tax cuts over the next decade.

View attachment 10839

Least we know whose interests top Republicans like Jon Kyl have in mind. Thoughts USMB?

My thought is you are a dishonest lying fuck. Kyl did not say what you are putting in his mouth.
How will discouraging the most productive members of our society from producing more increase economic activity?
People here just don't get it that gov't does not spend money. It simply takes from one party and gives to another. In this case, as in unemployment, they are taking from the most productive people and giving to the least productive. This is why this recession is lingering on at record lengths. We should have been seeing clear recovery by now and we're not.

Didn't you hear? Unemployment creates jobs... Pelosi said so!

 

[chanel]

Asked to expand on his tweets, Gibbs declined comment, save to clarify that "the question [host Chris] Wallace specifically asked Kyl was [about] the upper end of the Bush tax cuts (above $250,000)."

Considering 80% of People who show an Income on their Federal Tax Forms of over 250,000.00 are small business owners, a tax increase (or letting tax cuts expire) would hurt the Employment situation even more.

Most small business owners have put off hiring workers because of the recession, now if suddenly on Jan 1st 2011 the Government causes them to owe more Taxes, does anyone really think these small business owners are going to start hiring people? No they are not in fact they may law off more workers because the cost of doing business will be increasing.

.

Yep. And it's not just the income taxes. The HC boondoggle is going to cost more in medicaid taxes and force many to offer benefits. No one will be hiring and the smart ones will figure out a way to get just below the threshhold.

And people are afraid to do anything with cap and trade looming.

And people have little optimism for the future.

 

[topspin]

I'm saying you and the rest of the republiklans here whining about taxes actually got a tax cut.
More college educated voters went Obama than Mcfossil.
That's what I'm saying Dellasalle boy.