Mitt Romney Opposes the Tax Cut Bill

[The Infidel]

see if i'm not right about all of that.




oh yeah...and kiss my butt.

OK.... your on.




Oh and get back to me if your right

 

[elvis]

Stimulus was necessary. I don't think you'll find a single reputable economist who disagrees. HCR is deficit-neutral.

Yes, I have a problem with it when it means running up the tab on the ol' federal credit card. We pay interest on that thing, ya know. It'll cost us less now than what will ultimately be required if we continue down this path.

Nonsense and you know it.

We need to cut taxes and cut spending immediately. Or we are going to be very screwed very soon

Nonsense? Which part? I've re-read and I don't see anything that's factually incorrect. The last sentence is a matter of opinion, but I think most would agree with it.

What spending do you want to cut? Specifically. This is the part where the conversation comes to a screeching halt. The budget this year is $3.55 trillion. $1.4 trillion is discretionary, and more than half of that is military. Non-military discretionary spending is roundabout $600 billion. The deficit is $1.2 trillion.

Ready..... Go.

how about we start with obama's stimulus package.

 

[Common Sense]

Revenues dont decrease by keeping the tax rate the same. They stay the same.

Why werent you worrying about whether the stimulus or the health care bill were affordable? Both of them have empowered government and made our economy worse. But you have no problem with those.

Lowering taxes empowers individuals and you have a problem with that. And we aren't even lowering taxes!

It's mind boggling.

We to empower people. Not government.

we still have some of the lowest tax levels historically.
http://www.taxfoundation.org/files/fed_individual_rate_history-20100923.pdf

simply cutting taxes does not always empower people to spend. (look at the clinton era)

in 1986 the top tax bracket was 50%. thats high taxes

but dems rip on herbert hoover for raising taxes during economic turmoil. Now obama wants to essentially do the same thing.

"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% (under Presidents Warren G. Harding and Calvin Coolidge). 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. 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%"

"While this act did not impact everyone's taxes, the concept of a national income tax was still new at the time and it was levied only on wealthy individuals, it hit the rich particularly hard. It raised the top income tax rate from the mid-20% range to an astonishing 63%! The maximum top rate when the concept of income tax was introduced twenty years earlier was only 7%!
This astonishingly ill-timed act didn't just target individual income tax. It also raised corporate taxes by almost 15% and doubled the estate tax."

i dont know about dems ripping Hoover, i havent been able to find an article by searching the net.
but being that Obama only wanted to increase the top 2% of earners, and the fact that there is no corporate tax increase like Hoover, they arent exactly the same.

 

[Cuyo]

Nonsense and you know it.

We need to cut taxes and cut spending immediately. Or we are going to be very screwed very soon

Nonsense? Which part? I've re-read and I don't see anything that's factually incorrect. The last sentence is a matter of opinion, but I think most would agree with it.

What spending do you want to cut? Specifically. This is the part where the conversation comes to a screeching halt. The budget this year is $3.55 trillion. $1.4 trillion is discretionary, and more than half of that is military. Non-military discretionary spending is roundabout $600 billion. The deficit is $1.2 trillion.

Ready..... Go.

how about we start with obama's stimulus package.

Obamas stimulus package was not in this years budget.... Anything else?

 

[Ravi]

We need to pay for the wars in Afghanistan and Iraq...something we did as a country. And the people that can afford to pay it are the people that are earning income. It is stupid to extend the tax cuts with all this debt hanging over our heads.

 

[Soggy in NOLA]

we need to pay for the wars in afghanistan and iraq...something we did as a country. And the people that can afford to pay it are the people that are earning income. It is stupid to extend the tax cuts with all this debt hanging over our heads.

Stupid.. Stupid. Rich must Pay. No tax cuts for the wealthy. No blood for oil. Bush Lied people died. Halliburton sucks and Cheney is evil.

 

[Ravi]

we need to pay for the wars in afghanistan and iraq...something we did as a country. And the people that can afford to pay it are the people that are earning income. It is stupid to extend the tax cuts with all this debt hanging over our heads.

yes. The evil rich must pay. Pay i say... Pay!!

Not everyone that works is rich.

 

[theHawk]

We need to pay for the wars in Afghanistan and Iraq...something we did as a country. And the people that can afford to pay it are the people that are earning income. It is stupid to extend the tax cuts with all this debt hanging over our heads.

Then end all welfare programs and abolish unnecessary Federal Agencies and programs.

 

[Soggy in NOLA]

we need to pay for the wars in afghanistan and iraq...something we did as a country. And the people that can afford to pay it are the people that are earning income. It is stupid to extend the tax cuts with all this debt hanging over our heads.

yes. The evil rich must pay. Pay i say... Pay!!

Not everyone that works is rich.

I'm talking about the Evil Rich, not the working class. You know, like Dick Cheney and George Bush.

And Halliburton.

 

[elvis]

Nonsense? Which part? I've re-read and I don't see anything that's factually incorrect. The last sentence is a matter of opinion, but I think most would agree with it.

What spending do you want to cut? Specifically. This is the part where the conversation comes to a screeching halt. The budget this year is $3.55 trillion. $1.4 trillion is discretionary, and more than half of that is military. Non-military discretionary spending is roundabout $600 billion. The deficit is $1.2 trillion.

Ready..... Go.

how about we start with obama's stimulus package.

Obamas stimulus package was not in this years budget.... Anything else?

welfare programs.

 

[xotoxi]

Romney 2012.

I'll vote for him.

 

[frazzledgear]

Mitt Romney Opposes Tax Deal as Republicans Pick Sides - Political Hotsheet - CBS News

Excerpt:

"Given the unambiguous message that the American people sent to Washington in November, it is difficult to understand how our political leaders could have reached such a disappointing agreement," Romney writes. "Of course, delay now is better than an immediate tax hike. But because the extension is only temporary, a large portion of the investment and job growth that characteristically accompanies low taxes will be lost."


Romney also criticized the cost of the deal, which is estimated at nearly $900 billion over two years. The package is not paid for. "What some are calling a grand compromise is not grand at all, except in its price tag," he wrote.

Very savvy political positioning. Oppose Stimulus II, then run against the 'Obama deficit' in 2012.

Quit calling it a tax cut bill -it is a vote to continue EXISTING TAX RATES which means a vote against it is voting to RAISE TAXES. It is NOT a bill to lower taxes so it can't be a tax cut bill since no one's taxes would be lower than they already are!

Those who really believe increasing taxes on the wealthy in the idiotic belief they still just don't pay enough need to go back and review what resulted from increasing taxes on the rich under Carter and what happened to government revenue AND the share of taxes paid by the rich under Reagan's tax cut. I oppose this Senate deal for all the stinking UNPAID FOR pork and political pay offs Democrats STILL stuck in it -along with the unpaid for extension of unemployment benefits for another 13 months! THAT hasn't been paid for -but those who insist continuing the existing tax rates hasn't been "paid" for are actually saying Congress SPENT WHAT WAS NEVER GOVERNMENT'S MONEY IN THE FIRST PLACE and wants to pretend it was anyway! It is truly like expecting a raise and spending it all before you ever got -and in fact spent the next ten years worth of that raise you were expecting but never had! WTF! Democrats didn't run on any platform to increase the deficit by 25% in just ONE YEAR -but it is what they did. NOW they insist they are all concerned about the level of the deficit they MASSIVELY increased to unsustainable levels and demand those who already pay the bulk of federal income taxes pay MORE for Congress' IRRESPONSIBLE behavior. By the ONE means known to make it even worse because it will result in LESS government revenue -which will increase the deficit even MORE! On top of extending UNPAID FOR unemployment benefits for another 13 months.

And in spite of the fact that people have openly said that as long as the unemployment benefits continue, they will suck up every cent of it waiting it out hoping the "perfect" job falls in their lap instead of finding any job and at least being a productive citizen again while continuing to look for that "perfect" job! The Bureau of Labor Statistics just announced last week that as of October 31, there were 3.4 MILLION JOB OPENINGS going UNFILLED -even while we have MILLIONS without a job who are essentially being paid to be parasites of the system! Tremendously extended unemployment benefits and now paying people to not work for years at a time are a major reason why MILLIONS of job openings are going unfilled!

Personally I don't understand those who support increasing taxes on the wealthy and their thinking behind it is provably flawed. It isn't as if government is going to turn around and put it directly in YOUR pocket. Your own personal wealth will not be increased by demanding government confiscate it from those who are more successful than you -it won't make YOU richer and it won't mean you pay less in taxes by increasing them on someone else. It just allows you to uselessly indulge in your satisfaction of know that even though other people are much more successful than you and worked much harder than you (the rich work an average 70 hour work week) -that they will not be allowed to benefit from their success and hard work.

The left invariably assumes that the behavior of the wealthy will never change no matter how much you jack up their taxes -that will keep right on trucking doing what they had been doing busting their asses. And since the left wallows in class envy and believes government owns the fruits of your labor (not their own, just everyone else's of course) and not those who worked to earn it, they have no problem hitting the wealthy up with confiscatory tax rates. (By the way movement between our economic classes and in and out of them is extremely fluid in this country. Wealth is NOT a hardened and shut off class as it is in more leftist countries that makes it harder for people to reach that level. Only about 11% of those who fall in the wealthiest income brackets in the US will still fall in that same income bracket in 10 years. Unlike other countries, only 1% of the wealthy are wealthy due to a SUSTAINABLE inherited wealth. "Sustainable" means so much wealth those who inherited it can't possibly spend themselves down to a lower economic class and future generations will continue on as part of the inherited wealthy. THAT kind of wealth is NOT typical of the US wealthy. The vast majority of them created it, worked for it and earned it for themselves, most of whom were not wealthy just ten years earlier and won't be in ten more years. So it is their eventual SUCCESS the left despises and wants punished by means of confiscatory tax rates. And wants to reward and thereby encourage FAILURE instead.)

But THIS is what will happen by increasing taxes on the rich and this has been PROVEN to be true. The wealthy will reduce their efforts since they get no benefit from working harder and longer. And they will find every loophole imaginable and some that aren't imagined to protect their money from government confiscation. When the rich believe they are being hit up with unfair and confiscatory taxes -they figure out how to avoid paying them by first of all earning just enough to fall right under that tax bracket, by sitting on their existing wealth and not investing it and by means of every possible tax write-off both legitimate and fraudulent.

THAT means the rich will end up paying a SMALLER percentage of the tax bill because they will actually be forking out fewer dollars since they will no longer be working or investing at their previous level since there is no benefit for them to do so. High tax rates discourage work productivity, investment and result in significantly higher levels of tax evasion. We know this is true because when the tax rate is lowered to a level people believe is more fair, they stop trying to avoid paying their taxes, are more productive and willing to earn in the top brackets again - and government revenue INCREASES. Happened under Kennedy when he cut taxes, it happened under Reagan and under Bush -which is getting ready to be hiked on us all by the end of the year. And each time the percentage of the tax bill being footed by the rich INCREASED. When the wealthy avoid getting hit with confiscatory tax rates (and they always will) first there will be a huge percentage who deliberately tailor their work to just avoid falling into that tax bracket so there are fewer in numbers being taxed at that rate -so all the lower economic classes will end up picking up that slack and as a result will end up paying a higher percentage of the entire tax bill. They receive NO benefit themselves by demanding confiscatory tax rates on those who are more successful even though liberals try to deceive them into believing they will! Whatever government punishes in the form of taxes, it will get LESS OF -and we will see fewer people who are successful and that level of success has a trickle down effect -fewer who were successful at earning wealth of EVERY economic class! Progressive tax rates that primarily hit the rich discourage people from working that hard KNOWING they will not be allowed to enjoy the benefits of their own labor! Liberals cannot learn from history! Whatever government punishes it gets LESS OF. If you hit the rich up with higher taxes government doesn't end up with more money -it ends up with LESS money because fewer people bother to earn it since they get no benefit from doing so -and it is all the lower economic classes that MUST make up the revenue shortfall. And since they can't learn from history no matter how many times this has been proven to be true, it is why liberals favor a known, proven failure of a system. And do so no matter how many times now it HAS been proven to be a failure with its own built-in fatal flaw that guarantees it demise. Liberals are willing to wallow and ENCOURAGE useless class envy even when it is a repeatedly proven fact that raising taxes on the rich will end up harming those who are not wealthy the most.


Guess Who Really Pays the Taxes — The American, A Magazine of Ideas

 

[Cuyo]

how about we start with obama's stimulus package.

Obamas stimulus package was not in this years budget.... Anything else?

welfare programs.

Which ones? If you outright abolish HHS and HUD, you just saved roundabout $120 billion. You've also just put around 200,000 more people on the unemployment rolls, but we'll ignore that for now.

OK! You've got another $1.08 Trillion to go.

What else?

 

[xotoxi]

Mitt Romney Opposes Tax Deal as Republicans Pick Sides - Political Hotsheet - CBS News

Excerpt:

"Given the unambiguous message that the American people sent to Washington in November, it is difficult to understand how our political leaders could have reached such a disappointing agreement," Romney writes. "Of course, delay now is better than an immediate tax hike. But because the extension is only temporary, a large portion of the investment and job growth that characteristically accompanies low taxes will be lost."


Romney also criticized the cost of the deal, which is estimated at nearly $900 billion over two years. The package is not paid for. "What some are calling a grand compromise is not grand at all, except in its price tag," he wrote.

Very savvy political positioning. Oppose Stimulus II, then run against the 'Obama deficit' in 2012.

Quit calling it a tax cut bill -it is a vote to continue EXISTING TAX RATES which means a vote against it is voting to RAISE TAXES. It is NOT a bill to lower taxes so it can't be a tax cut bill since no one's taxes would be lower than they already are!

Those who really believe increasing taxes on the wealthy in the idiotic belief they still just don't pay enough need to go back and review what resulted from increasing taxes on the rich under Carter and what happened to government revenue AND the share of taxes paid by the rich under Reagan's tax cut. I oppose this Senate deal for all the stinking UNPAID FOR pork and political pay offs Democrats STILL stuck in it -along with the unpaid for extension of unemployment benefits for another 13 months! THAT hasn't been paid for -but those who insist continuing the existing tax rates hasn't been "paid" for are actually saying Congress SPENT WHAT WAS NEVER GOVERNMENT'S MONEY IN THE FIRST PLACE and wants to pretend it was anyway! It is truly like expecting a raise and spending it all before you ever got -and in fact spent the next ten years worth of that raise you were expecting but never had! WTF! Democrats didn't run on any platform to increase the deficit by 25% in just ONE YEAR -but it is what they did. NOW they insist they are all concerned about the level of the deficit they MASSIVELY increased to unsustainable levels and demand those who already pay the bulk of federal income taxes pay MORE for Congress' IRRESPONSIBLE behavior. By the ONE means known to make it even worse because it will result in LESS government revenue -which will increase the deficit even MORE! On top of extending UNPAID FOR unemployment benefits for another 13 months.

And in spite of the fact that people have openly said that as long as the unemployment benefits continue, they will suck up every cent of it waiting it out hoping the "perfect" job falls in their lap instead of finding any job and at least being a productive citizen again while continuing to look for that "perfect" job! The Bureau of Labor Statistics just announced last week that as of October 31, there were 3.4 MILLION JOB OPENINGS going UNFILLED -even while we have MILLIONS without a job who are essentially being paid to be parasites of the system! Tremendously extended unemployment benefits and now paying people to not work for years at a time are a major reason why MILLIONS of job openings are going unfilled!

Personally I don't understand those who support increasing taxes on the wealthy and their thinking behind it is provably flawed. It isn't as if government is going to turn around and put it directly in YOUR pocket. Your own personal wealth will not be increased by demanding government confiscate it from those who are more successful than you -it won't make YOU richer and it won't mean you pay less in taxes by increasing them on someone else. It just allows you to uselessly indulge in your satisfaction of know that even though other people are much more successful than you and worked much harder than you (the rich work an average 70 hour work week) -that they will not be allowed to benefit from their success and hard work.

The left invariably assumes that the behavior of the wealthy will never change no matter how much you jack up their taxes -that will keep right on trucking doing what they had been doing busting their asses. And since the left wallows in class envy and believes government owns the fruits of your labor (not their own, just everyone else's of course) and not those who worked to earn it, they have no problem hitting the wealthy up with confiscatory tax rates. (By the way movement between our economic classes and in and out of them is extremely fluid in this country. Wealth is NOT a hardened and shut off class as it is in more leftist countries that makes it harder for people to reach that level. Only about 11% of those who fall in the wealthiest income brackets in the US will still fall in that same income bracket in 10 years. Unlike other countries, only 1% of the wealthy are wealthy due to a SUSTAINABLE inherited wealth. "Sustainable" means so much wealth those who inherited it can't possibly spend themselves down to a lower economic class and future generations will continue on as part of the inherited wealthy. THAT kind of wealth is NOT typical of the US wealthy. The vast majority of them created it, worked for it and earned it for themselves, most of whom were not wealthy just ten years earlier and won't be in ten more years. So it is their eventual SUCCESS the left despises and wants punished by means of confiscatory tax rates. And wants to reward and thereby encourage FAILURE instead.)

But THIS is what will happen by increasing taxes on the rich and this has been PROVEN to be true. The wealthy will reduce their efforts since they get no benefit from working harder and longer. And they will find every loophole imaginable and some that aren't imagined to protect their money from government confiscation. When the rich believe they are being hit up with unfair and confiscatory taxes -they figure out how to avoid paying them by first of all earning just enough to fall right under that tax bracket, by sitting on their existing wealth and not investing it and by means of every possible tax write-off both legitimate and fraudulent.

THAT means the rich will end up paying a SMALLER percentage of the tax bill because they will actually be forking out fewer dollars since they will no longer be working or investing at their previous level since there is no benefit for them to do so. High tax rates discourage work productivity, investment and result in significantly higher levels of tax evasion. We know this is true because when the tax rate is lowered to a level people believe is more fair, they stop trying to avoid paying their taxes, are more productive and willing to earn in the top brackets again - and government revenue INCREASES. Happened under Kennedy when he cut taxes, it happened under Reagan and under Bush -which is getting ready to be hiked on us all by the end of the year. And each time the percentage of the tax bill being footed by the rich INCREASED. When the wealthy avoid getting hit with confiscatory tax rates (and they always will) first there will be a huge percentage who deliberately tailor their work to just avoid falling into that tax bracket so there are fewer in numbers being taxed at that rate -so all the lower economic classes will end up picking up that slack and as a result will end up paying a higher percentage of the entire tax bill. They receive NO benefit themselves by demanding confiscatory tax rates on those who are more successful even though liberals try to deceive them into believing they will! Whatever government punishes in the form of taxes, it will get LESS OF -and we will see fewer people who are successful and that level of success has a trickle down effect -fewer who were successful at earning wealth of EVERY economic class! Progressive tax rates that primarily hit the rich discourage people from working that hard KNOWING they will not be allowed to enjoy the benefits of their own labor! Liberals cannot learn from history! Whatever government punishes it gets LESS OF. If you hit the rich up with higher taxes government doesn't end up with more money -it ends up with LESS money because fewer people bother to earn it since they get no benefit from doing so -and it is all the lower economic classes that MUST make up the revenue shortfall. And since they can't learn from history no matter how many times this has been proven to be true, it is why liberals favor a known, proven failure of a system. And do so no matter how many times now it HAS been proven to be a failure with its own built-in fatal flaw that guarantees it demise. Liberals are willing to wallow and ENCOURAGE useless class envy even when it is a repeatedly proven fact that raising taxes on the rich will end up harming those who are not wealthy the most.


Guess Who Really Pays the Taxes — The American, A Magazine of Ideas

^^^^^^^
I'm not going to read this!!!

WHAT THE FUCK?

 

[Common Sense]

Mitt Romney Opposes Tax Deal as Republicans Pick Sides - Political Hotsheet - CBS News

Excerpt:

"Given the unambiguous message that the American people sent to Washington in November, it is difficult to understand how our political leaders could have reached such a disappointing agreement," Romney writes. "Of course, delay now is better than an immediate tax hike. But because the extension is only temporary, a large portion of the investment and job growth that characteristically accompanies low taxes will be lost."


Romney also criticized the cost of the deal, which is estimated at nearly $900 billion over two years. The package is not paid for. "What some are calling a grand compromise is not grand at all, except in its price tag," he wrote.

Very savvy political positioning. Oppose Stimulus II, then run against the 'Obama deficit' in 2012.

Quit calling it a tax cut bill -it is a vote to continue EXISTING TAX RATES which means a vote against it is voting to RAISE TAXES. It is NOT a bill to lower taxes so it can't be a tax cut bill since no one's taxes would be lower than they already are!

Those who really believe increasing taxes on the wealthy in the idiotic belief they still just don't pay enough need to go back and review what resulted from increasing taxes on the rich under Carter and what happened to government revenue AND the share of taxes paid by the rich under Reagan's tax cut. I oppose this Senate deal for all the stinking UNPAID FOR pork and political pay offs Democrats STILL stuck in it -along with the unpaid for extension of unemployment benefits for another 13 months! THAT hasn't been paid for -but those who insist continuing the existing tax rates hasn't been "paid" for are actually saying Congress SPENT WHAT WAS NEVER GOVERNMENT'S MONEY IN THE FIRST PLACE and wants to pretend it was anyway! It is truly like expecting a raise and spending it all before you ever got -and in fact spent the next ten years worth of that raise you were expecting but never had! WTF! Democrats didn't run on any platform to increase the deficit by 25% in just ONE YEAR -but it is what they did. NOW they insist they are all concerned about the level of the deficit they MASSIVELY increased to unsustainable levels and demand those who already pay the bulk of federal income taxes pay MORE for Congress' IRRESPONSIBLE behavior. By the ONE means known to make it even worse because it will result in LESS government revenue -which will increase the deficit even MORE! On top of extending UNPAID FOR unemployment benefits for another 13 months.

And in spite of the fact that people have openly said that as long as the unemployment benefits continue, they will suck up every cent of it waiting it out hoping the "perfect" job falls in their lap instead of finding any job and at least being a productive citizen again while continuing to look for that "perfect" job! The Bureau of Labor Statistics just announced last week that as of October 31, there were 3.4 MILLION JOB OPENINGS going UNFILLED -even while we have MILLIONS without a job who are essentially being paid to be parasites of the system! Tremendously extended unemployment benefits and now paying people to not work for years at a time are a major reason why MILLIONS of job openings are going unfilled!

Personally I don't understand those who support increasing taxes on the wealthy and their thinking behind it is provably flawed. It isn't as if government is going to turn around and put it directly in YOUR pocket. Your own personal wealth will not be increased by demanding government confiscate it from those who are more successful than you -it won't make YOU richer and it won't mean you pay less in taxes by increasing them on someone else. It just allows you to uselessly indulge in your satisfaction of know that even though other people are much more successful than you and worked much harder than you (the rich work an average 70 hour work week) -that they will not be allowed to benefit from their success and hard work.

The left invariably assumes that the behavior of the wealthy will never change no matter how much you jack up their taxes -that will keep right on trucking doing what they had been doing busting their asses. And since the left wallows in class envy and believes government owns the fruits of your labor (not their own, just everyone else's of course) and not those who worked to earn it, they have no problem hitting the wealthy up with confiscatory tax rates. (By the way movement between our economic classes and in and out of them is extremely fluid in this country. Wealth is NOT a hardened and shut off class as it is in more leftist countries that makes it harder for people to reach that level. Only about 11% of those who fall in the wealthiest income brackets in the US will still fall in that same income bracket in 10 years. Unlike other countries, only 1% of the wealthy are wealthy due to a SUSTAINABLE inherited wealth. "Sustainable" means so much wealth those who inherited it can't possibly spend themselves down to a lower economic class and future generations will continue on as part of the inherited wealthy. THAT kind of wealth is NOT typical of the US wealthy. The vast majority of them created it, worked for it and earned it for themselves, most of whom were not wealthy just ten years earlier and won't be in ten more years. So it is their eventual SUCCESS the left despises and wants punished by means of confiscatory tax rates. And wants to reward and thereby encourage FAILURE instead.)

But THIS is what will happen by increasing taxes on the rich and this has been PROVEN to be true. The wealthy will reduce their efforts since they get no benefit from working harder and longer. And they will find every loophole imaginable and some that aren't imagined to protect their money from government confiscation. When the rich believe they are being hit up with unfair and confiscatory taxes -they figure out how to avoid paying them by first of all earning just enough to fall right under that tax bracket, by sitting on their existing wealth and not investing it and by means of every possible tax write-off both legitimate and fraudulent.

THAT means the rich will end up paying a SMALLER percentage of the tax bill because they will actually be forking out fewer dollars since they will no longer be working or investing at their previous level since there is no benefit for them to do so. High tax rates discourage work productivity, investment and result in significantly higher levels of tax evasion. We know this is true because when the tax rate is lowered to a level people believe is more fair, they stop trying to avoid paying their taxes, are more productive and willing to earn in the top brackets again - and government revenue INCREASES. Happened under Kennedy when he cut taxes, it happened under Reagan and under Bush -which is getting ready to be hiked on us all by the end of the year. And each time the percentage of the tax bill being footed by the rich INCREASED. When the wealthy avoid getting hit with confiscatory tax rates (and they always will) first there will be a huge percentage who deliberately tailor their work to just avoid falling into that tax bracket so there are fewer in numbers being taxed at that rate -so all the lower economic classes will end up picking up that slack and as a result will end up paying a higher percentage of the entire tax bill. They receive NO benefit themselves by demanding confiscatory tax rates on those who are more successful even though liberals try to deceive them into believing they will! Whatever government punishes in the form of taxes, it will get LESS OF -and we will see fewer people who are successful and that level of success has a trickle down effect -fewer who were successful at earning wealth of EVERY economic class! Progressive tax rates that primarily hit the rich discourage people from working that hard KNOWING they will not be allowed to enjoy the benefits of their own labor! Liberals cannot learn from history! Whatever government punishes it gets LESS OF. If you hit the rich up with higher taxes government doesn't end up with more money -it ends up with LESS money because fewer people bother to earn it since they get no benefit from doing so -and it is all the lower economic classes that MUST make up the revenue shortfall. And since they can't learn from history no matter how many times this has been proven to be true, it is why liberals favor a known, proven failure of a system. And do so no matter how many times now it HAS been proven to be a failure with its own built-in fatal flaw that guarantees it demise. Liberals are willing to wallow and ENCOURAGE useless class envy even when it is a repeatedly proven fact that raising taxes on the rich will end up harming those who are not wealthy the most.


Guess Who Really Pays the Taxes — The American, A Magazine of Ideas

are you done crying? do you need a tissue now?

the taxes arent just for work income, they also include capital gains taxes and estate taxes. the wealthy maintain the their wealth through investments, not necessarily though working. hence by resetting the capital gains tax back, you get more revenue that would have previously been kept out of the economy and simply in investment vehicle.

wow, and i did that in less than 2 paragraphs.

 

[Ravi]

yes. The evil rich must pay. Pay i say... Pay!!

Not everyone that works is rich.

I'm talking about the Evil Rich, not the working class. You know, like Dick Cheney and George Bush.

And Halliburton.

I'm talking about everyone that earns income, is an American, and is responsible for what we do as a country.

 

[Cuyo]

Mitt Romney Opposes Tax Deal as Republicans Pick Sides - Political Hotsheet - CBS News

Excerpt:

"Given the unambiguous message that the American people sent to Washington in November, it is difficult to understand how our political leaders could have reached such a disappointing agreement," Romney writes. "Of course, delay now is better than an immediate tax hike. But because the extension is only temporary, a large portion of the investment and job growth that characteristically accompanies low taxes will be lost."


Romney also criticized the cost of the deal, which is estimated at nearly $900 billion over two years. The package is not paid for. "What some are calling a grand compromise is not grand at all, except in its price tag," he wrote.

Very savvy political positioning. Oppose Stimulus II, then run against the 'Obama deficit' in 2012.

Quit calling it a tax cut bill -it is a vote to continue EXISTING TAX RATES which means a vote against it is voting to RAISE TAXES. It is NOT a bill to lower taxes so it can't be a tax cut bill since no one's taxes would be lower than they already are!

Those who really believe increasing taxes on the wealthy in the idiotic belief they still just don't pay enough need to go back and review what resulted from increasing taxes on the rich under Carter and what happened to government revenue AND the share of taxes paid by the rich under Reagan's tax cut. I oppose this Senate deal for all the stinking UNPAID FOR pork and political pay offs Democrats STILL stuck in it -along with the unpaid for extension of unemployment benefits for another 13 months! THAT hasn't been paid for -but those who insist continuing the existing tax rates hasn't been "paid" for are actually saying Congress SPENT WHAT WAS NEVER GOVERNMENT'S MONEY IN THE FIRST PLACE and wants to pretend it was anyway! It is truly like expecting a raise and spending it all before you ever got -and in fact spent the next ten years worth of that raise you were expecting but never had! WTF! Democrats didn't run on any platform to increase the deficit by 25% in just ONE YEAR -but it is what they did. NOW they insist they are all concerned about the level of the deficit they MASSIVELY increased to unsustainable levels and demand those who already pay the bulk of federal income taxes pay MORE for Congress' IRRESPONSIBLE behavior. By the ONE means known to make it even worse because it will result in LESS government revenue -which will increase the deficit even MORE! On top of extending UNPAID FOR unemployment benefits for another 13 months.

And in spite of the fact that people have openly said that as long as the unemployment benefits continue, they will suck up every cent of it waiting it out hoping the "perfect" job falls in their lap instead of finding any job and at least being a productive citizen again while continuing to look for that "perfect" job! The Bureau of Labor Statistics just announced last week that as of October 31, there were 3.4 MILLION JOB OPENINGS going UNFILLED -even while we have MILLIONS without a job who are essentially being paid to be parasites of the system! Tremendously extended unemployment benefits and now paying people to not work for years at a time are a major reason why MILLIONS of job openings are going unfilled!

Personally I don't understand those who support increasing taxes on the wealthy and their thinking behind it is provably flawed. It isn't as if government is going to turn around and put it directly in YOUR pocket. Your own personal wealth will not be increased by demanding government confiscate it from those who are more successful than you -it won't make YOU richer and it won't mean you pay less in taxes by increasing them on someone else. It just allows you to uselessly indulge in your satisfaction of know that even though other people are much more successful than you and worked much harder than you (the rich work an average 70 hour work week) -that they will not be allowed to benefit from their success and hard work.

The left invariably assumes that the behavior of the wealthy will never change no matter how much you jack up their taxes -that will keep right on trucking doing what they had been doing busting their asses. And since the left wallows in class envy and believes government owns the fruits of your labor (not their own, just everyone else's of course) and not those who worked to earn it, they have no problem hitting the wealthy up with confiscatory tax rates. (By the way movement between our economic classes and in and out of them is extremely fluid in this country. Wealth is NOT a hardened and shut off class as it is in more leftist countries that makes it harder for people to reach that level. Only about 11% of those who fall in the wealthiest income brackets in the US will still fall in that same income bracket in 10 years. Unlike other countries, only 1% of the wealthy are wealthy due to a SUSTAINABLE inherited wealth. "Sustainable" means so much wealth those who inherited it can't possibly spend themselves down to a lower economic class and future generations will continue on as part of the inherited wealthy. THAT kind of wealth is NOT typical of the US wealthy. The vast majority of them created it, worked for it and earned it for themselves, most of whom were not wealthy just ten years earlier and won't be in ten more years. So it is their eventual SUCCESS the left despises and wants punished by means of confiscatory tax rates. And wants to reward and thereby encourage FAILURE instead.)

But THIS is what will happen by increasing taxes on the rich and this has been PROVEN to be true. The wealthy will reduce their efforts since they get no benefit from working harder and longer. And they will find every loophole imaginable and some that aren't imagined to protect their money from government confiscation. When the rich believe they are being hit up with unfair and confiscatory taxes -they figure out how to avoid paying them by first of all earning just enough to fall right under that tax bracket, by sitting on their existing wealth and not investing it and by means of every possible tax write-off both legitimate and fraudulent.

THAT means the rich will end up paying a SMALLER percentage of the tax bill because they will actually be forking out fewer dollars since they will no longer be working or investing at their previous level since there is no benefit for them to do so. High tax rates discourage work productivity, investment and result in significantly higher levels of tax evasion. We know this is true because when the tax rate is lowered to a level people believe is more fair, they stop trying to avoid paying their taxes, are more productive and willing to earn in the top brackets again - and government revenue INCREASES. Happened under Kennedy when he cut taxes, it happened under Reagan and under Bush -which is getting ready to be hiked on us all by the end of the year. And each time the percentage of the tax bill being footed by the rich INCREASED. When the wealthy avoid getting hit with confiscatory tax rates (and they always will) first there will be a huge percentage who deliberately tailor their work to just avoid falling into that tax bracket so there are fewer in numbers being taxed at that rate -so all the lower economic classes will end up picking up that slack and as a result will end up paying a higher percentage of the entire tax bill. They receive NO benefit themselves by demanding confiscatory tax rates on those who are more successful even though liberals try to deceive them into believing they will! Whatever government punishes in the form of taxes, it will get LESS OF -and we will see fewer people who are successful and that level of success has a trickle down effect -fewer who were successful at earning wealth of EVERY economic class! Progressive tax rates that primarily hit the rich discourage people from working that hard KNOWING they will not be allowed to enjoy the benefits of their own labor! Liberals cannot learn from history! Whatever government punishes it gets LESS OF. If you hit the rich up with higher taxes government doesn't end up with more money -it ends up with LESS money because fewer people bother to earn it since they get no benefit from doing so -and it is all the lower economic classes that MUST make up the revenue shortfall. And since they can't learn from history no matter how many times this has been proven to be true, it is why liberals favor a known, proven failure of a system. And do so no matter how many times now it HAS been proven to be a failure with its own built-in fatal flaw that guarantees it demise. Liberals are willing to wallow and ENCOURAGE useless class envy even when it is a repeatedly proven fact that raising taxes on the rich will end up harming those who are not wealthy the most.


Guess Who Really Pays the Taxes — The American, A Magazine of Ideas

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I'm not going to read this!!!

WHAT THE FUCK?

LOL... He thinks he's profound. I didn't read all that noise either but you can pick out all the right wing wackaloon buzz-words here and there.

 

[Ravi]

how about we start with obama's stimulus package.

Obamas stimulus package was not in this years budget.... Anything else?

welfare programs.

They are such a small portion of the budget it is laughable.

 

[Common Sense]

^^^^^^^
I'm not going to read this!!!

WHAT THE FUCK?

LOL... He thinks he's profound. I didn't read all that noise either but you can pick out all the right wing wackaloon buzz-words here and there.

its actually funny because hes promoting supply side economics without even knowing it, and since that theory has be thoroughly debunked he has no standing. he also think that the taxes only apply to work income, and not capital gains or the estate tax.

 

[Cuyo]

Obamas stimulus package was not in this years budget.... Anything else?

welfare programs.

They are such a small portion of the budget it is laughable.

My point exactly... we're a big family that's deeply in debt and sinking like a stone. If we're to balance this budget without additional revenues (yes, that means taxes of one stripe or another), we need to get rid of a few cars... That big stupid boat... quit the shopping sprees... and move into a smaller house...

Conservatives respond with a suggestion to cancel the Sunday paper.