The truth about taxes

[Quantum Windbag]

The Times admits taxing the rich is not enough and calls for higher taxes for everyone.

A week later and we are still amazed at how the Republicans in Congress pulled it off. They held the economy hostage, won some cheap political points, and all of us will spend the next decade paying the ransom as government programs — $900 billion over 10 years in the first round — are slashed and the recovery is put at risk. The only glimmer of hope is that the battle is not completely over — if President Obama is finally willing to fight.
Under the terms of the ill-conceived debt agreement, Congress has to propose another $1.5 trillion in deficit reduction measures by December. Just to ensure that rationality does not have a chance, Republican leaders said they would not put anyone on the deficit-cutting “super-committee” who might entertain the idea of raising taxes.
A week later and we are even more amazed by the failure of Mr. Obama and the Democratic leadership to stand up to this intransigence. If they do not start pushing back, with the same ferocity, the results will be disastrous.



LET THE BUSH CUTS EXPIRE
MAKE REAL REFORMS
TARGET TAX BREAKS AND LOWER RATES
OTHER TAXES

http://www.nytimes.com/2011/08/07/opinion/sunday/the-truth-about-taxes.html

 

[NYcarbineer]

Where is the logic in saying that because taxing the rich can't fix the entire problem, therefore the rich should be exempted from helping fix any part of the problem?

 

[Quantum Windbag]

Where is the logic in saying that because taxing the rich can't fix the entire problem, therefore the rich should be exempted from helping fix any part of the problem?

The only person who said that is you.

 

[Full-Auto]

The Times admits taxing the rich is not enough and calls for higher taxes for everyone.

A week later and we are still amazed at how the Republicans in Congress pulled it off. They held the economy hostage, won some cheap political points, and all of us will spend the next decade paying the ransom as government programs — $900 billion over 10 years in the first round — are slashed and the recovery is put at risk. The only glimmer of hope is that the battle is not completely over — if President Obama is finally willing to fight.
Under the terms of the ill-conceived debt agreement, Congress has to propose another $1.5 trillion in deficit reduction measures by December. Just to ensure that rationality does not have a chance, Republican leaders said they would not put anyone on the deficit-cutting “super-committee” who might entertain the idea of raising taxes.
A week later and we are even more amazed by the failure of Mr. Obama and the Democratic leadership to stand up to this intransigence. If they do not start pushing back, with the same ferocity, the results will be disastrous.



LET THE BUSH CUTS EXPIRE
MAKE REAL REFORMS
TARGET TAX BREAKS AND LOWER RATES
OTHER TAXES

http://www.nytimes.com/2011/08/07/opinion/sunday/the-truth-about-taxes.html

90 billion a year.. Run for the hills. The world is going to stop in its tracks.

 

[uscitizen]

The first thing that needs to be done is do away with loopholes that are contrary to US growth and stability.
For example tax breaks for companies to offshore jobs.

 

[RDD_1210]

The Times admits taxing the rich is not enough and calls for higher taxes for everyone.

A week later and we are still amazed at how the Republicans in Congress pulled it off. They held the economy hostage, won some cheap political points, and all of us will spend the next decade paying the ransom as government programs — $900 billion over 10 years in the first round — are slashed and the recovery is put at risk. The only glimmer of hope is that the battle is not completely over — if President Obama is finally willing to fight.
Under the terms of the ill-conceived debt agreement, Congress has to propose another $1.5 trillion in deficit reduction measures by December. Just to ensure that rationality does not have a chance, Republican leaders said they would not put anyone on the deficit-cutting “super-committee” who might entertain the idea of raising taxes.
A week later and we are even more amazed by the failure of Mr. Obama and the Democratic leadership to stand up to this intransigence. If they do not start pushing back, with the same ferocity, the results will be disastrous.



LET THE BUSH CUTS EXPIRE
MAKE REAL REFORMS
TARGET TAX BREAKS AND LOWER RATES
OTHER TAXES

http://www.nytimes.com/2011/08/07/opinion/sunday/the-truth-about-taxes.html

So let's get this straight. You're now in favor of letting the Bush tax cuts expire?

 

[Wry Catcher]

Where is the logic in saying that because taxing the rich can't fix the entire problem, therefore the rich should be exempted from helping fix any part of the problem?

The only person who said that is you.

It's called an inference, and I agree with his assesment. You and your kind want to tax those who net less than $30,000 a year, yet protect those who net $250,000 a year, and you call that a fair tax. Every bit of extra revenue, yes taxes, helps, but not if doing so puts the working poor on supplemental aid paid for by the states.

 

[NYcarbineer]

Where is the logic in saying that because taxing the rich can't fix the entire problem, therefore the rich should be exempted from helping fix any part of the problem?

The only person who said that is you.

You're full of shit.

Conservatives here at USMB won't state ONE sacrifice that the Rich should make among the sacrifices that need to be made to straighten out the fiscal mess.

The question has been asked in the past.

 

[NYcarbineer]

Where is the logic in saying that because taxing the rich can't fix the entire problem, therefore the rich should be exempted from helping fix any part of the problem?

The only person who said that is you.

It's called an inference, and I agree with his assesment. You and your kind want to tax those who net less than $30,000 a year, yet protect those who net $250,000 a year, and you call that a fair tax. Every bit of extra revenue, yes taxes, helps, but not if doing so puts the working poor on supplemental aid paid for by the states.

He's denying that anyone here has ever said that taxing the rich is not the answer because even if you took all their money it wouldn't balance the budget.

That has only been said here, in various ways, about a zillion times.

 

[Full-Auto]

Where is the logic in saying that because taxing the rich can't fix the entire problem, therefore the rich should be exempted from helping fix any part of the problem?

The only person who said that is you.

You're full of shit.

Conservatives here at USMB won't state ONE sacrifice that the Rich should make among the sacrifices that need to be made to straighten out the fiscal mess.

The question has been asked in the past.

Why do you have such difficulty treating everyone equally? All people should pay the same percentage. Exempt the first 30k.

 

[syrenn]

The Times admits taxing the rich is not enough and calls for higher taxes for everyone.

A week later and we are still amazed at how the Republicans in Congress pulled it off. They held the economy hostage, won some cheap political points, and all of us will spend the next decade paying the ransom as government programs — $900 billion over 10 years in the first round — are slashed and the recovery is put at risk. The only glimmer of hope is that the battle is not completely over — if President Obama is finally willing to fight.
Under the terms of the ill-conceived debt agreement, Congress has to propose another $1.5 trillion in deficit reduction measures by December. Just to ensure that rationality does not have a chance, Republican leaders said they would not put anyone on the deficit-cutting “super-committee” who might entertain the idea of raising taxes.
A week later and we are even more amazed by the failure of Mr. Obama and the Democratic leadership to stand up to this intransigence. If they do not start pushing back, with the same ferocity, the results will be disastrous.



LET THE BUSH CUTS EXPIRE
MAKE REAL REFORMS
TARGET TAX BREAKS AND LOWER RATES
OTHER TAXES

http://www.nytimes.com/2011/08/07/opinion/sunday/the-truth-about-taxes.html

flat tax for ALL! Rich. poor, corporation or what ever..... no exemptions, no loop holes.

I don't give a shit if you make $1 a year.... the government is going to take its cut.... what ever that % is.

Part of the problem is that 50% of the people in this country pay not one dime in federal tax... but its that same 50% that put their hand out for MORE.

 

[imbalance]

Unless there's substantive spending cuts or a miracle write-off of foreign debt, raising taxes on the 'rich' essentially liquidates the US economy, contracts the US money supply, and raises the real value of outstanding foreign debt in proportion to deflating GDP until it hits the inevitable hyperinflation threshold of no return.

Spending cuts have to come before, or at the very least simultaneous to, any tax increases for there to be any chance of preventing the crippling dollar flight out of the US that would result from raising taxes without legit spending cuts.

 

[The Rabbi]

The first thing that needs to be done is do away with loopholes that are contrary to US growth and stability.
For example tax breaks for companies to offshore jobs.

Please point to which tax breaks do that. Please cite tax code or articles to that effect. This is the second time I've asked this with no answer.

 

[8537]

The only person who said that is you.

You're full of shit.

Conservatives here at USMB won't state ONE sacrifice that the Rich should make among the sacrifices that need to be made to straighten out the fiscal mess.

The question has been asked in the past.

Why do you have such difficulty treating everyone equally? All people should pay the same percentage. Exempt the first 30k.

So tax capital gains as earned income?

 

[Cuyo]

The Times admits taxing the rich is not enough and calls for higher taxes for everyone.

A week later and we are still amazed at how the Republicans in Congress pulled it off. They held the economy hostage, won some cheap political points, and all of us will spend the next decade paying the ransom as government programs — $900 billion over 10 years in the first round — are slashed and the recovery is put at risk. The only glimmer of hope is that the battle is not completely over — if President Obama is finally willing to fight.
Under the terms of the ill-conceived debt agreement, Congress has to propose another $1.5 trillion in deficit reduction measures by December. Just to ensure that rationality does not have a chance, Republican leaders said they would not put anyone on the deficit-cutting “super-committee” who might entertain the idea of raising taxes.
A week later and we are even more amazed by the failure of Mr. Obama and the Democratic leadership to stand up to this intransigence. If they do not start pushing back, with the same ferocity, the results will be disastrous.



LET THE BUSH CUTS EXPIRE
MAKE REAL REFORMS
TARGET TAX BREAKS AND LOWER RATES
OTHER TAXES

http://www.nytimes.com/2011/08/07/opinion/sunday/the-truth-about-taxes.html

Let'em all expire. Are we serious about fixing this problem? Or only to the extent that "someone else" pays for it?

 

[The Rabbi]

Where is the logic in saying that because taxing the rich can't fix the entire problem, therefore the rich should be exempted from helping fix any part of the problem?

The only person who said that is you.

It's called an inference, and I agree with his assesment. You and your kind want to tax those who net less than $30,000 a year, yet protect those who net $250,000 a year, and you call that a fair tax. Every bit of extra revenue, yes taxes, helps, but not if doing so puts the working poor on supplemental aid paid for by the states.

It's called stupidity. And you are eaten up with it.
The LEft is fixated on taxing the wealthy even though it will not make much difference to our deficit. It is nothing more than class envy and hatred.
Scrap the entire tax code and substitute a simple flat tax.

 

[RDD_1210]

The Times admits taxing the rich is not enough and calls for higher taxes for everyone.

A week later and we are still amazed at how the Republicans in Congress pulled it off. They held the economy hostage, won some cheap political points, and all of us will spend the next decade paying the ransom as government programs — $900 billion over 10 years in the first round — are slashed and the recovery is put at risk. The only glimmer of hope is that the battle is not completely over — if President Obama is finally willing to fight.
Under the terms of the ill-conceived debt agreement, Congress has to propose another $1.5 trillion in deficit reduction measures by December. Just to ensure that rationality does not have a chance, Republican leaders said they would not put anyone on the deficit-cutting “super-committee” who might entertain the idea of raising taxes.
A week later and we are even more amazed by the failure of Mr. Obama and the Democratic leadership to stand up to this intransigence. If they do not start pushing back, with the same ferocity, the results will be disastrous.



LET THE BUSH CUTS EXPIRE
MAKE REAL REFORMS
TARGET TAX BREAKS AND LOWER RATES
OTHER TAXES

http://www.nytimes.com/2011/08/07/opinion/sunday/the-truth-about-taxes.html

flat tax for ALL! Rich. poor, corporation or what ever..... no exemptions, no loop holes.

I don't give a shit if you make $1 a year.... the government is going to take its cut.... what ever that % is.

Part of the problem is that 50% of the people in this country pay not one dime in federal tax... but its that same 50% that put their hand out for MORE.

Were you in favor or letting the Bush tax cuts expire? Funny because people love to rail against those who are in that 50% who "pay nothing" yet they were the strongest supporters of extending the tax cuts for them. Odd how that works.

 

[The Rabbi]

You're full of shit.

Conservatives here at USMB won't state ONE sacrifice that the Rich should make among the sacrifices that need to be made to straighten out the fiscal mess.

The question has been asked in the past.

Why do you have such difficulty treating everyone equally? All people should pay the same percentage. Exempt the first 30k.

So tax capital gains as earned income?

Capital gains should be exempt, as they are in Singapore.
At the very least they need to be indexed for inflation.

 

[Full-Auto]

You're full of shit.

Conservatives here at USMB won't state ONE sacrifice that the Rich should make among the sacrifices that need to be made to straighten out the fiscal mess.

The question has been asked in the past.

Why do you have such difficulty treating everyone equally? All people should pay the same percentage. Exempt the first 30k.

So tax capital gains as earned income?

That covers a lot of territory. In the case of homeowners they pay before they draw a dime of it. Its called property taxes. You know the things reassessed every two years. You will have to be more definitive.

 

[8537]

Why do you have such difficulty treating everyone equally? All people should pay the same percentage. Exempt the first 30k.

So tax capital gains as earned income?

Capital gains should be exempt, as they are in Singapore.
At the very least they need to be indexed for inflation.

The income is in the US - but indeed, they need to be indexed (and taxed at standard marginal rates).

The lack of indexing is bass-ackwards.