Rather than take tax loopholes from the wealthy or corporations...

Discussion in 'Politics' started by JimH52, Jul 6, 2011.

  1. JimH52
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    JimH52 Gold Member

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    I am certain that the GOP is prepared to see the country fall into default. I hope he doesn't, but I expect Obama to fold on this one. I guess he, unlike the GOP, will have to consider Country over Political Party.

    A default could turn the US into a near 3rd world counrty. The entire world's economy will go down the tubes. All so that the rich in the US can keep their tax breaks.
     
  2. martybegan
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    martybegan Gold Member

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    Or they can take people's mortgage "tax loophole" away, that would add to federal revenue.

    Tax loopholes, corporate welfare, subsidies, these are all simply "tax deductions that I dont like given to people I dont like"
     
  3. JimH52
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    JimH52 Gold Member

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    Taxes are off the table for the GOP. They would rather see default than suffer politically with the baggers.
     
  4. VaYank5150
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    VaYank5150 Gold Member

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    I guess I missed something. Last I heard, "loopholes" were still on the table for the GOP, since they already axed the Ethanol subsidy, which is a tax increase? Did they change their minds?
     
  5. Robert
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    Robert Really nice Guy

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    And to think all that Obama and the sycophants need do is to produce the necessary massive spending cut's to show the American people that really do care about this nation
     
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  6. dblack
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    dblack Gold Member

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    Or, rather, "tax deductions given out to curry political favor or implement social engineering". Either way, they're wrong. The tax code should be about equitably financing government - not pushing some people around and rewarding others. The fair thing to do is end all discriminatory taxation and ban the practice in the future.
     
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  7. Truthmatters
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    Truthmatters BANNED

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    Taxes should reflect the needs of the country.

    They should fund us for the things we need to do to keep our country functioning.

    If someone thinks they are unfair then they should vote for the representation that agrees with their aims.

    Right now the American people want taxes raised so we can pay our bills.

    The republicans dont want them raised because they cant get re elected by their base if they raise taxes.

    The republicans care more about getting re elected than doing what the American people want done.

    They care more about getting re elected than they care about Americas reputation in the world.

    They care more about themselves than that American people.
     
    Last edited: Jul 6, 2011
  8. martybegan
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    martybegan Gold Member

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    Not raising the limit is not default. It just means you cant borrow anymore (issue any more T-bills). That means that you have to prioritize the spending of the money you already have. In this case you would have to prioritize debt servicing, and basically cut elsewhere.

    Default would mean missing an interest payment on a T-bill.
     
  9. martybegan
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    martybegan Gold Member

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    But what happens when the majority can force a minority to shoulder most of the burden? Was that how the system was intended to work?
     
  10. 8537
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    8537 Senior Member

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    When push really comes to shove, the government will have to start making very difficult choices. When the choice becomes:

    1. Send a SS check to an old lady or
    2. Send an interest payment to China.

    I think we both know which it will chose. It would default before it would cut off the third rail.
     

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