Why should the rich pay taxes at a lower rate than the rest of us?

[Chris]

This has nothing to do with creating jobs, in fact, it will cause further unemployment and a further decrease in revenue to the government. The wealthy are responsible for 32 % of consumer spending, you take that away from them, you take it away from the private sector, which is the bill payer's for the nation and the job engine for our economy. You tax the wealthy and they don't buy the yacht, the yacht builder goes out of business and lays off all of his employee's now if that is your fix to promote growth in the private sector, then you need to take econ 101, Obama certainly missed this course at Harvard as he is an economic moron.

No, you are the economic moron.

When a government is underfunded and wealth is held in fewer and fewer hands, an economy stagnates.

Who has the fastest growing economy in Europe? Sweden.

Why? BECAUSE THEY INVEST IN THEIR PEOPLE.

Investments in education, healthcare, technology, research, and infrastructure is what drives an economy. Not tax cuts for the rich.

Funny, the 5 fastest growing GDPs in Europe are Turkey, Belarus, Moldova, Georgia, and Bulgaria. Sweden comes in at number 58 in the world, behind countries like Rwanda, Cambodia, and just ahead of Mexico. Your figures are, as always, wonderfully delusional.

Hardly...

STOCKHOLM — Almost every developed nation in the world was walloped by the financial crisis, their economies paralyzed, their prospects for the future muddied.

And then there’s Sweden, the rock star of the recovery.

This Scandinavian nation of 9 million people has accomplished what the United States, Britain and Japan can only dream of: Growing rapidly, creating jobs and gaining a competitive edge. The banks are lending, the housing market booming. The budget is balanced.

Sweden was far from immune the global downturn of 2008-09. But unlike other countries, it is bouncing back. Its 5.5 percent growth rate last year trounces the 2.8 percent expansion in the United States and was stronger than any other developed nation in Europe. And compared with the United States, unemployment peaked lower (around 9 percent, compared with 10 percent) and has come down faster (it now stands near 7 percent, compared with 9 percent in the U.S.).

Five economic lessons from Sweden, the rock star of the recovery - The Washington Post

 

[Maple]

This has nothing to do with creating jobs, in fact, it will cause further unemployment and a further decrease in revenue to the government. The wealthy are responsible for 32 % of consumer spending, you take that away from them, you take it away from the private sector, which is the bill payer's for the nation and the job engine for our economy. You tax the wealthy and they don't buy the yacht, the yacht builder goes out of business and lays off all of his employee's now if that is your fix to promote growth in the private sector, then you need to take econ 101, Obama certainly missed this course at Harvard as he is an economic moron.

He is sure spinning it now- this was during the campaign stating he would not raise taxes during an economic recession, Hello Mr. President we have LOST more jobs since you passed your 787 billion dollar stimulus plan. Then he talks about the 1/2 trillion hole that was left by Bush, I wonder what he thinks about the 4 trillion dollar hole he acomplished in just a couple of years.

[ame=http://www.youtube.com/watch?v=_7fSZiZG91o&feature=relmfu]Obama Admits His Tax Hikes Would Hurt The Economy - YouTube[/ame]

Watching this video just reminds me of what a utter failure he is. He has accomplished absolutely nothing, he has not even improved the situation, he has made it worse.

Watch the video Chris, pay special attention to the fact that he addressed BLOWING a hole in the budget. He not only blew a hole in the budget, he EXPLODED IT. Good grief, any you Obamabots still buy all this crap.

 

[Chris]

George Bush inherited a balanced budget, a strong economy, and a nation at peace. Eight years later he left Obama with a trillion dollar deficit, a shatter economy, and two useless wars.

Obama saved us from another Great Depression, rebuilt GM, reformed Wall Street, reformed healthcare, and got Bin Laden.

And all you can do is complain.

 

[Chris]

Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich.

Go to ReaganBushDebt.org to see the numbers.

 

[Chris]

 

[oreo]

Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich.

Go to ReaganBushDebt.org to see the numbers.

Reagan--was prior to Bill Clinton who ended up with a budget surplus--so I don't know how you come up with that one--

Look here are the STATS

Clinton spent 432 million dollars a day.
G.W Bush spent 1.6 BILLION dollars a day.
and
BARACK OBAMA is SPENDING 4.3 BILLION dollars a day.


Obama is spending 3 times what G.W. Bush spent--and Bush spent to much.

Former President Bill Clinton says now is not the time to hike taxes.

“I personally don’t believe we ought to be raising taxes or cutting spending, either one, until we get this economy off the ground,” Clinton told Newsmax in an interview Tuesday. “This has been a dead flat economy.”

Clinton, who is hosting the Clinton Global Initiative’s annual meeting in New York City this week, said that until the country’s debt is reduced, he doesn’t believe cutting or raising taxes or boosting spending are the solution to bringing the country to a full employment economy.

“If we cut government spending, which I normally would be very inclined to do when the deficit’s this big, with interest rates already near zero, you can’t get the benefits out of it,” Clinton said. “So what I’d like to see them do is come up with a bipartisan approach, starting with the payroll tax cuts because they have the biggest return.”
Bill Clinton: No more taxes now - MJ Lee - POLITICO.com

This coming from Bill Clinton who reigned over the fastest growing economy of the 20th century has got to be a HUGE blow to Obama's new campaign strategy of wealth redistribution-class warfare campaign rhetoric or raising taxes on 227,000 Americans out of 311 MILLION Americans that make 1 million or over per year.

FURTHERMORE--Bill Clinton--just threw Obama under the bus stating that NOW is NOT the time to raise anyone's taxes.
Bill Clinton: No more taxes now - MJ Lee - POLITICO.com

Clinton understands that the wealthy in this country spend 37% of the 2/3's of the total GDP in this economy. If you raise taxes on this crowd they will have less cash to spread through-out the economy.

U.S. Economy Is Increasingly Tied to the Rich - The Wealth Report - WSJ

You have elected an economic moron in Barack Obama--time to realize it and make some changes.

 

[Chris]

 

[Chris]

According to Government - Historical Debt Outstanding - Annual 1950 - 1999, the debt at the end of the 1980 fiscal year, on September 30th, 1980, was $907,701,000,000. On September 30th, 1981, it was $997,855,000,000. Averaging it out over the year gives a debt of $246,997,260.27 per day.

Reagan took office 112 days later on January 20th, 1981. The debt on that date could be estimated as $907,701,000,000 plus 112 x $246,997,260.27, or $935,364,693,151.

Bill Clinton was the first president to slow the rate of the accrual of debt after the current out-of-control spending began with the Borrow and Spend Republicans in 1981.

The final amount of the senior Bush debt was $4,174,218,594,232.91 (according to Debt to the Penny (Daily History Search Application)), and Clinton became president on January 20th, 1993. Bill Clinton saw $1,553,558,144,071.73 added to the national debt during the eight years of his presidency.

However, from the start of fiscal year 1994 (7 months after Clinton became president), until the start of fiscal year 2002 (7 months after Bush took office), the amount of money paid toward interest on the existing Federal debt was $2,767,282,794,374.59 (Government - Interest Expense on the Debt Outstanding).

Therefore, no amount of the national debt is attributable to Bill Clinton - his policies of higher taxes and reduced spending actually simultaneously reduced the debt and brought about the strongest economy since World War II, despite the fiscal disaster left in the wake of Reagan and the first Bush.

The debt was at $5,727,776,738,304.64 on January 19th, 2001, the last business day before George W. Bush took the office of president. The debt was at $10,628,881,485,510.23 on January 16th, 2009, the last business day before Barack H. Obama became president.

During his administration, George W. Bush
increased the national debt by $4,901,104,747,205.59
and personally approved of the creation of 46% of the entire national debt,
in only 8 years.

ReaganBushDebt.org Calculation Details

 

[Quantum Windbag]

No, you are the economic moron.

When a government is underfunded and wealth is held in fewer and fewer hands, an economy stagnates.

Who has the fastest growing economy in Europe? Sweden.

Why? BECAUSE THEY INVEST IN THEIR PEOPLE.

Investments in education, healthcare, technology, research, and infrastructure is what drives an economy. Not tax cuts for the rich.

Funny, the 5 fastest growing GDPs in Europe are Turkey, Belarus, Moldova, Georgia, and Bulgaria. Sweden comes in at number 58 in the world, behind countries like Rwanda, Cambodia, and just ahead of Mexico. Your figures are, as always, wonderfully delusional.

Hardly...

STOCKHOLM — Almost every developed nation in the world was walloped by the financial crisis, their economies paralyzed, their prospects for the future muddied.

And then there’s Sweden, the rock star of the recovery.

This Scandinavian nation of 9 million people has accomplished what the United States, Britain and Japan can only dream of: Growing rapidly, creating jobs and gaining a competitive edge. The banks are lending, the housing market booming. The budget is balanced.

Sweden was far from immune the global downturn of 2008-09. But unlike other countries, it is bouncing back. Its 5.5 percent growth rate last year trounces the 2.8 percent expansion in the United States and was stronger than any other developed nation in Europe. And compared with the United States, unemployment peaked lower (around 9 percent, compared with 10 percent) and has come down faster (it now stands near 7 percent, compared with 9 percent in the U.S.).

Five economic lessons from Sweden, the rock star of the recovery - The Washington Post

Wow, 5,5% growth rate.

Funny thing, it turns out I was wrong. Sweden actually comes in at 62 in the world, behind Mexico and Somalia. Turkey's is 8.2%, which is the best in Europe.

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2003rank.html

 

[Chris]

Funny, the 5 fastest growing GDPs in Europe are Turkey, Belarus, Moldova, Georgia, and Bulgaria. Sweden comes in at number 58 in the world, behind countries like Rwanda, Cambodia, and just ahead of Mexico. Your figures are, as always, wonderfully delusional.

Hardly...

STOCKHOLM — Almost every developed nation in the world was walloped by the financial crisis, their economies paralyzed, their prospects for the future muddied.

And then there’s Sweden, the rock star of the recovery.

This Scandinavian nation of 9 million people has accomplished what the United States, Britain and Japan can only dream of: Growing rapidly, creating jobs and gaining a competitive edge. The banks are lending, the housing market booming. The budget is balanced.

Sweden was far from immune the global downturn of 2008-09. But unlike other countries, it is bouncing back. Its 5.5 percent growth rate last year trounces the 2.8 percent expansion in the United States and was stronger than any other developed nation in Europe. And compared with the United States, unemployment peaked lower (around 9 percent, compared with 10 percent) and has come down faster (it now stands near 7 percent, compared with 9 percent in the U.S.).

Five economic lessons from Sweden, the rock star of the recovery - The Washington Post

Wow, 5,5% growth rate.

Funny thing, it turns out I was wrong. Sweden actually comes in at 62 in the world, behind Mexico and Somalia. Turkey's is 8.2%, which is the best in Europe.

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2003rank.html

I never before heard anyone call Turkey Europe.

Is their currency the Euro?

No.

You are wrong.

But thanks for playing.

 

[Quantum Windbag]

Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich.

Go to ReaganBushDebt.org to see the numbers.

That is bullshit.

Most of the Bush tax cuts went to people making less than $200,000 a year. Only 13% of the Bush tax cuts went to the "rich," blaming that for the deficit only proves you have no idea what you are talking about.

 

[Chris]

Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich.

Go to ReaganBushDebt.org to see the numbers.

That is bullshit.

Most of the Bush tax cuts went to people making less than $200,000 a year. Only 13% of the Bush tax cuts went to the "rich," blaming that for the deficit only proves you have no idea what you are talking about.

The median income is around 50K.

So yes most of the tax cuts went to the rich.

Where's your link by the way?

 

[Chris]

 

[oreo]

Criss your chart is B.S.

Nice try though---

 

[oreo]

Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich.

Go to ReaganBushDebt.org to see the numbers.

That is bullshit.

Most of the Bush tax cuts went to people making less than $200,000 a year. Only 13% of the Bush tax cuts went to the "rich," blaming that for the deficit only proves you have no idea what you are talking about.

The median income is around 50K.

So yes most of the tax cuts went to the rich.

Where's your link by the way?

Again how do you include REAGAN to all of this--when Clinton followed and was able to balance the budget.

Your link says it all--Reagan/Bush tax cuts--when these Presidents were 20 years apart from one another?

Barack Obama has spent more in 2-1/2 years than Bush did in 8 years.

 

[Quantum Windbag]

Hardly...

STOCKHOLM — Almost every developed nation in the world was walloped by the financial crisis, their economies paralyzed, their prospects for the future muddied.

And then there’s Sweden, the rock star of the recovery.

This Scandinavian nation of 9 million people has accomplished what the United States, Britain and Japan can only dream of: Growing rapidly, creating jobs and gaining a competitive edge. The banks are lending, the housing market booming. The budget is balanced.

Sweden was far from immune the global downturn of 2008-09. But unlike other countries, it is bouncing back. Its 5.5 percent growth rate last year trounces the 2.8 percent expansion in the United States and was stronger than any other developed nation in Europe. And compared with the United States, unemployment peaked lower (around 9 percent, compared with 10 percent) and has come down faster (it now stands near 7 percent, compared with 9 percent in the U.S.).

Five economic lessons from Sweden, the rock star of the recovery - The Washington Post

Wow, 5,5% growth rate.

Funny thing, it turns out I was wrong. Sweden actually comes in at 62 in the world, behind Mexico and Somalia. Turkey's is 8.2%, which is the best in Europe.

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2003rank.html

I never before heard anyone call Turkey Europe.

Is their currency the Euro?

No.

You are wrong.

But thanks for playing.

If using the Euro is a requirement of being part of Europe then I guess the UK must be another continent.

You should have paid more attention in geography classes. Turkey is a member of the Council of Europe, NATO, the OSCE, and is located in Southeastern Europe. What continent do you want to put it on?

 

[Chris]

 

[Quantum Windbag]

Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich.

Go to ReaganBushDebt.org to see the numbers.

That is bullshit.

Most of the Bush tax cuts went to people making less than $200,000 a year. Only 13% of the Bush tax cuts went to the "rich," blaming that for the deficit only proves you have no idea what you are talking about.

The median income is around 50K.

So yes most of the tax cuts went to the rich.

Where's your link by the way?

Do you know what median income is?

Link to what? The fact that the Bush tax cuts applied to everyone?

What Happens If The Bush Tax Cuts Expire On January 1st 2011?

The median income is

 

[Chris]

That is bullshit.

Most of the Bush tax cuts went to people making less than $200,000 a year. Only 13% of the Bush tax cuts went to the "rich," blaming that for the deficit only proves you have no idea what you are talking about.

The median income is around 50K.

So yes most of the tax cuts went to the rich.

Where's your link by the way?

Again how do you include REAGAN to all of this--when Clinton followed and was able to balance the budget.

Your link says it all--Reagan/Bush tax cuts--when these Presidents were 20 years apart from one another?

Barack Obama has spent more in 2-1/2 years than Bush did in 8 years.

Link?

 

[oreo]

WASHINGTON (AP) — President Barack Obama says he wants to make sure millionaires are taxed at higher rates than their secretaries. The data say they already are.
"Warren Buffett's secretary shouldn't pay a higher tax rate than Warren Buffett. There is no justification for it," Obama said as he announced his deficit-reduction plan this week. "It is wrong that in the United States of America, a teacher or a nurse or a construction worker who earns $50,000 should pay higher tax rates than somebody pulling in $50 million."

On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government data. They pay at a higher rate, and as a group, they contribute a much larger share of the overall taxes collected by the federal government.

The 10 percent of households with the highest incomes pay more than half of all federal taxes. They pay more than 70 percent of federal income taxes, according to the Congressional Budget Office.

FACT CHECK: Are rich taxed less than secretaries? - Yahoo! News


Oh BTW Chris--I want to start seeing LINKS to your CHARTS.