Low taxes and high health costs make U.S. choices tough

[Soggy in NOLA]

Times are tough. So it's time to tighten the belt and ask your Democratic congress critters why they approved entitlement programs with no visible means of support.

No it's time to ask the Republicans why they got us involved in two unfunded wars and an unfunded Medicare drug progam and passed unfunded tax cuts for the wealthy?

We have asked. They have no answer other than "it's all Obama's fault".

I don't recall seeing anybody say that.

 

[Chris]

No.. we spend waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyy too much money.

Not really.

We just should not have passed the Bush tax cuts and let Wall Street run a Ponzi scheme.

Clinton balanced the budget by cutting defense spending and raising taxes for the rich. Bush destroyed that with tax cuts for the rich and two useless wars.

But tax cuts for the rich and wars are what the Republican Party is all about.

We shouldn't be paying 5th generation welfare receipients to sit on thier ass and pump out the next generation. Why do you think people who work to earn their wealth somehow are obligated to give it to you because you won't?

I work seven days a week and make 100K.

And I have never received a government check in my life except for that little thing that George Bush sent out.

And welfare is a tiny portion of the federal budget. Most of the budget is Social Security, Medicare, and defense. But for Republicans it always boils down to some bullshit about welfare or illegals that really doesn't apply.

The question is, should people in the top 1% pay taxes at a lower rate than the rest of us?

 

[driveby]

This year's federal tax revenues are forecast to equal 14.4 percent of gross domestic product, a broad measure of economic output, according to the Office of Management and Budget.

That's the lowest share since 1950, long before Congress approved expensive programs such as Medicare. Tax collections have been reduced by the recession and by tax cuts enacted in 2001 and 2003. Among 29 countries ranked by the Organization for Economic Development and Cooperation, only Japan and Spain take in less tax revenue than the U.S. as a percentage of GDP.

Low taxes, high health costs make US choices tough

And of course this has nothing to do with the fact that unemployment is probably around 15% and 50% pay no income taxes?

Looka, I have no problem revamping the tax code via closing loopholes, etc. but I totally reject the notion that we need 40% - 50%+ rates of taxation to support a government that gives us everything from health care to cell phones.

**** that.

You can't pay off a $14 trillion dollar debt without raising taxes.

Our taxes are too low.

There was already a tax hike, it's called Obamacare, it made all the newspapers.......

 

[Chris]

And of course this has nothing to do with the fact that unemployment is probably around 15% and 50% pay no income taxes?

Looka, I have no problem revamping the tax code via closing loopholes, etc. but I totally reject the notion that we need 40% - 50%+ rates of taxation to support a government that gives us everything from health care to cell phones.

**** that.

You can't pay off a $14 trillion dollar debt without raising taxes.

Our taxes are too low.

There was already a tax hike, it's called Obamacare, it made all the newspapers.......

Repealing the Bush tax cuts would take care of most of the problem.

 

[kwc57]

Not really.

We just should not have passed the Bush tax cuts and let Wall Street run a Ponzi scheme.

Clinton balanced the budget by cutting defense spending and raising taxes for the rich. Bush destroyed that with tax cuts for the rich and two useless wars.

But tax cuts for the rich and wars are what the Republican Party is all about.

We shouldn't be paying 5th generation welfare receipients to sit on thier ass and pump out the next generation. Why do you think people who work to earn their wealth somehow are obligated to give it to you because you won't?

I work seven days a week and make 100K.

And I have never received a government check in my life except for that little thing that George Bush sent out.

And welfare is a tiny portion of the federal budget. Most of the budget is Social Security, Medicare, and defense. But for Republicans it always boils down to some bullshit about welfare or illegals that really doesn't apply.

The question is, should people in the top 1% pay taxes at a lower rate than the rest of us?

They pay the majority of taxes while 50% of Americans don't pay any......and you want them to pay more. If you truely want shared sacrifice, they need to pony up and do their part.

 

[Chris]

WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.

Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com

 

[driveby]

You can't pay off a $14 trillion dollar debt without raising taxes.

Our taxes are too low.

There was already a tax hike, it's called Obamacare, it made all the newspapers.......

Repealing the Bush tax cuts would take care of most of the problem.

Not bribing senators to ram through an unconstitutional mandate would have taken care of the problem better.......

 

[Wacky Quacky]

WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.

Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com

True as that is, it doesn't detract from the fact that they still pay the majority of this country's taxes, and the bottom 50% pay none. And here's some more reading from Forbes:

The 'Tax The Rich' Con, Part I - Forbes.com

 

[Wacky Quacky]

You can't pay off a $14 trillion dollar debt without raising taxes.

Our taxes are too low.

Biggest load of crap I've ever heard. How come the federal government is the only entity in existence who can't accomplish this feat?

If we give them more money, they will just spend more. They have proven this to a fault. If, and only if, they prove they can cut spending and keep the spending down, then I would fully support raising taxes. But never before that.

 

[Harry Dresden]

This year's federal tax revenues are forecast to equal 14.4 percent of gross domestic product, a broad measure of economic output, according to the Office of Management and Budget.

That's the lowest share since 1950, long before Congress approved expensive programs such as Medicare. Tax collections have been reduced by the recession and by tax cuts enacted in 2001 and 2003. Among 29 countries ranked by the Organization for Economic Development and Cooperation, only Japan and Spain take in less tax revenue than the U.S. as a percentage of GDP.

Times are tough. So it's time to tighten the belt and ask your Democratic congress critters why they approved entitlement programs with no visible means of support.

No it's time to ask the Republicans why they got us involved in two unfunded wars and an unfunded Medicare drug progam and passed unfunded tax cuts for the wealthy?

why dont we ask the Democrats why we are still in those two Countries......we should be long gone from Iraq,when are their young men going to start protecting THEIR Country?........and Afghanistan will never change.....those People dont want too......get our people out Now......we could use those Billions of Dollars here......

 

[Meister]

This year's federal tax revenues are forecast to equal 14.4 percent of gross domestic product, a broad measure of economic output, according to the Office of Management and Budget.

That's the lowest share since 1950, long before Congress approved expensive programs such as Medicare. Tax collections have been reduced by the recession and by tax cuts enacted in 2001 and 2003. Among 29 countries ranked by the Organization for Economic Development and Cooperation, only Japan and Spain take in less tax revenue than the U.S. as a percentage of GDP.

Low taxes, high health costs make US choices tough

And of course this has nothing to do with the fact that unemployment is probably around 15% and 50% pay no income taxes?

Looka, I have no problem revamping the tax code via closing loopholes, etc. but I totally reject the notion that we need 40% - 50%+ rates of taxation to support a government that gives us everything from health care to cell phones.

**** that.

You can't pay off a $14 trillion dollar debt without raising taxes.

Our taxes are too low.

Especially when 51% don't pay taxes, and a percent of them get "Earned Income Credit".
You could double the tax on the rich and it won't make a dent in our debt, Chris. What do you want to do.....take all their money?

 

[Harry Dresden]

Clinton balanced the budget by cutting defense spending and raising taxes for the rich. Bush destroyed that with tax cuts for the rich and two useless wars.

so i take it your one of the 10% who was against us going into Afghanistan after the attack?.......