Two Questions for our Liberal friends

[Charles_Main]

No, we need to raise taxes now so that we don't continue to borrow money to make up for the lost revenue

Hey, here's an idea: cut spending instead.
Probably never occurred to you, right?

10% off defense to start with, fair enough?

I am sure we could handle that. I am open to cutting anything and everything. I think we could streamline our Military and defense Bureaucracy and More importantly our Nuclear Arsenal and cut that much easy.

 

[jeffrockit]

They won't. Who is claiming that they will?
They won't hurt employment rates either.

The tax system is already incredibly regressive. The richest people in America pay less of a percentage of their income in tax than I do. You want to make it more so?

That is completely false. Already the anticipation of higher taxes has hurt hiring. While there are other factors, this one is very much valid.
Want proof:
"Businesses have a legitimate worry about health care costs, rising taxes, and other artifacts of Obama's legislation."
Mish's Global Economic Trend Analysis: Small Businesses are Not Hiring - Why Should They?

"Obama wants to raise income tax rates on individuals making more than $200,000 and joint filers making $250,000 and up. That would affect 3% of all taxpayers who report business profits (known as "net positive business income") on their individual tax returns, according to estimates by the Joint Committee on Taxation, the tax gurus on Capitol Hill.

All told, we're talking about approximately 750,000 individuals."
"Next year, an estimated 50% of all business income reported on individual returns will be generated by that small minority of taxpayers who file at the top two rates, the JCT estimates."
Bush tax cuts: Parsing the debate about small business - Sep. 20, 2010

Common sense dictates that if businesses see their tax rate increasing, they will cut back in different areas. One being payroll. What the wealth envy crowd fails to understand is, in this administration 250K is not that much money. In Chicago an administrator for the police dept and his school teacher wife together will make 250K. Not exactly what most would call "rich". The expiration of the Bush era tax cuts will affect these people. Small business will react with more layoffs, hiring freezes, equipment buying freezes.
So really, those that think they are "sticking it to the rich" are only hurting themselves and others that are high middle class.

From CNBC (not exactly right wing) reporting on what economist are stating:
"Ending Bush Tax Cuts Will Hurt Economy: Goldman Analyst"
News Headlines

Unfortunately the "wealth envy" mantra works on voters who are too stupid to realize it will ultimately affect them too.

The expiration of the top rate will not affect a couple making 250,000. You don't know what you're talking about.

It is you who is void of facts ergo you know not what you are talking about.
Still more facts:
"President Obama and Democratic leaders in Congress want to extend tax rates on individual income below $200,000 and family income below $250,000, while allowing tax rates above those thresholds to rise."
Howard Dean: Tax increase on upper brackets won't hurt job market - The Hill's On The Money

"Pres. Obama pledged to let taxes rise only on families earning more than $250,000 per year. But as things stand right now, tens of millions of Americans who earn less are about to get whacked by new higher tax rates."
Will letting Bush tax cuts expire help or hurt America? | KING5.com | Seattle Consumer News and Information

Still in denial. This from the non partisan CBO:
"CBO Director Doug Elmendorf testified before the Senate Budget Committee today and dropped something of a bombshell. Extending the Bush tax cuts, he said, will "probably reduce income relative to what would otherwise occur in 2020."
Ezra Klein - CBO: Extending the Bush tax cuts will hurt the economy, reduce incomes

If you still want to maintain your dishonesty, nothing will help you.
I see you failed to support your statement with anything. Not too likely to take your word for it.

 

[The Rabbi]

OK

How much revenue do you expect to raise off of those who have less tha 2.5% of the nations wealth vs those who have over 70% of the nations wealth?

Are you confusing wealth with income? Yet again??

Not at all

Those 50% of Americans who rightwingers want to tax control 2.5% of the nations wealth. That 2.5% must pay for their rent, food, healthcare, their childrens education and now Republicans want to add to their tax burden

Um, wasn't it the Democrats, who control Congress, who adjourned without extending the Bush Tax Cuts, effectively raising taxes on everyone?
Wasn't it the Republicans who wanted to extend the tax cuts for everyone?