Republicans are going to turn down a tax cut?

Discussion in 'Politics' started by Flopper, Jul 25, 2010.

  1. Flopper
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    Flopper Gold Member

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    The party of NO is going to have to turn thumbs down to a bill that will keep tax low for middle class America. A senate bill is being introduced that will extend the Bush tax cuts for families with incomes less than $250,000. It should be interesting to see how Republicans will spin this for the midterm elections. Democrats will of course accuse Republicans of turning down a bill that would reduce taxes for most Americans in order to reduce taxes for the 2 or 3% of the wealthy people in the country.

    Bush-Era Tax Cuts Likely Election Theme - WSJ.com
     
  2. bigrebnc1775
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    bigrebnc1775 Diamond Member

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    It looks like that democratic spin cycle is almost over and out of gas. when you can't find lies they create them

    "If the Senate ultimately is unable to muster the votes to pass a tax bill, some knowledgeable Democrats predict the House still might try a short-term middle-class extension bill ahead of the election."

    Just for the vote if it wasn't for the mid term election the democrats would not bother with it.
     
    Last edited: Jul 25, 2010
  3. edthecynic
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    edthecynic Censored for Cynicism

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    What I would do to stimulate the economy and create AMERICAN jobs is to REPLACE each of Bush's American job killing tax cuts when they expire, DOLLAR FOR DOLLAR, with a cut in the job killing payroll taxes.
    This would give the American wage earner an immediate increase in take home pay to spend on a regular basis without costing the employer a single penny stimulating demand, and the businesses that employ Americans would have an immediate cut in the cost of labor without downsizing or outsourcing a single American job as well as saving the cost of compliance. The businesses that employ the most AMERICANS will get the most benefit from the tax cuts, exactly the group of people you would want to benefit most from tax cuts.

    Bush's redistribution of wealth tax cuts took the Social Security Tax SURPLUS he inherited, collected at SS Payroll Tax Rates, 100% from wage earners making less than $100,000 and businesses that employ Americans, and redistributed most of it to incomes over $100,000 and Capital Gains Tycoons who are exempt from SS Payroll Taxes by using Income Tax Rates for the redistribution of the payroll tax surplus.
    By simply saying his tax cuts were "across the board" Bush was able to deceive the gullible into believing it was fair to use the Income Tax rates to redistribute money collected at Payroll Tax rates.

    As a result Tycoons who increased profits by outsourcing American jobs for cheaper foreign labor, were rewarded by Bush with a tax cut on that profit gained at the expense of American jobs. Not only that, but to further this redistribution of wealth and outsourcing of American jobs, Bush and the GOP congress raised the threshold on paying SS payroll taxes, making the cost of employing American wage earners even higher to those businesses that employ Americans.
     
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  4. bigrebnc1775
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    bigrebnc1775 Diamond Member

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    LOL you are a moron. stupid idiot....
    Oh did I mention you are a moron.
     
  5. Political Junky
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    Political Junky Gold Member

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    Yep, the cons are gonna fuck themselves over, this election cycle. Between the taxes on the middle class, they want to repeal the health care bill. Children won't be able to stay on their parent's insurance until 26. Insurance can continue to deny coverage on preexisting conditions. Explain that to middle class voters.
     
  6. bigrebnc1775
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    bigrebnc1775 Diamond Member

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    Someone who is 26 is not a child. Nothing has changed with the preexisting condition clause. Oh and when the healthcare law does come into effect those with preexisting conditions will be paying a higher price for insurence. Tell me you knew that and you are just trying to be an ass.
     
  7. hortysir
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    hortysir In Memorial of 47

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    From the link:
    Continued class warfare, "us against them" mentality......

    So much for changing the way Washington is run.
    Reaching across the aisle is an extinct art form (of either side).
     
  8. chopcrazy
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    chopcrazy Member

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    Your post was a little lite on data. How many tycoons benefited from the tax cuts and how many from the middle class benefited and how many people paid more? This info would be helpful to understand your position.

    The income statement is important to understanding a business. You must realize that companies want to make money. For every $1 the company lowers its expenses, its profit increases roughly $0.65 (assumes 35% tax rate). Since you mention a dollar for dollar benefit; outsourcing would need to be compared with the cost to provide other benefits. If a company has 10 employees at $50k; under your solution the company would reduce its of payroll tax expense by $38k. The company still provides other benefits (medical, vacation, pto, 401l. etc.). Mind you, every company is different. Some companies have better benefits than others so there would be a lot of different scenarios. Is saving $38K enough money to hire another employee?

    Since the economy is driven by small business which do most of the hiring. I think the question you should address in your analysis for your solution would be how many small companies/businesses outsource to offshore companies? This might provide insight into the magnitude of the offshore outsourcing as it relates to getting small companies to hiring americans.

    I suspect (opinion without factual basis) that small business would love not to pay payroll taxes just like large companies. Large companies would continue to outsource as there are other factors besides payroll taxes that effect the decision to outsource. Small companies won't hire because the savings on payroll taxes is not enough to hire another person...maybe for every 11-12 workers could one additional worker be hired.

    Small business need access to financing. Banks have been slow to lend as banks have been stabilizing their balance sheets. Buinesses need to know what the long-term costs will be...like taxe rates, benefit costs, interest rates, etc. for planning purposes.

    You have the enthusiasm. If you backup what you say with facts or sources of reliable data; you mind gain support for your position. Otherwise it is just political bandering, imo.

    P.S.: I am in favor of letting all but the marriage penalty tax breaks expire.
     
    Last edited: Jul 25, 2010
  9. DiveCon
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    DiveCon gone

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    wait a minute, tax cuts are now a GOOD thing for democrats??????
     
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  10. The Rabbi
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    The Rabbi Diamond Member

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    That's why almost every race shows the Republican beating the Democrat. Right?
     

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