Obama wants more taxes, more spending

[Flash]

Hussein Obama and his Moon Bat followers think that we can tax ourselves into prosperity. Dumbshits!

 

[g5000]

There are many ways to redistribute wealth.

Obama takes the obvious road of "tax the rich more" and then take that money and spread it around.

Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

 

[g5000]

Hussein Obama and his Moon Bat followers think that we can tax ourselves into prosperity. Dumbshits!

I see those sound bite ads for people with the intellectual bandwidth of a bumper sticker were a good investment!

 

[JoeNormal]

Does this man not get it? We dont need more taxes. We need less taxes. The economy sucks, growth is anemic, wages are stagnant. Why? Uncompetitive tax structure combined with over regulation. Now he wants to double down on stupid, taxing profits made outside this country to fund "infrastructure projects", like payoffs to unions and the like, Im sure. Only good news is it has zero chance of going anywhere.
Obama targets foreign profits with tax proposal Republicans skeptical - Yahoo Finance

You don't want to close the most heinous tax loophole that exists?

 

[Siete]

Hussein Obama and his Moon Bat followers think that we can tax ourselves into prosperity. Dumbshits!

yup, that's why he made 82% of the Bush tax cuts permanent ... YOU DUMBSHIT !!!

 

[SteadyMercury]

Of course he does. His first days in office was raise the cigarette taxes which only HURTS the poor in the country.

Lol.

 

[danielpalos]

It should be moral to Tax the wealthiest into Heaven.

 

[BluesLegend]

Here's my one step plan.

1. Grow the economy to increase tax revenues to fund government investment and debt reduction. Repeat step 1.

Oh. Magawd. How come now one else has ever thought of that?

And you would grow the economy...how?

Your post is a throwaway phrase with zero substance.

Please don't run for office or apply for a government job, we don't need people like you making decisions.

I take it you have no actual plan for growing the economy.

You seem discombobulated didn't you just get through saying, "Your post is a throwaway phrase with zero substance"?

 

[Flash]

There are many ways to redistribute wealth.

Obama takes the obvious road of "tax the rich more" and then take that money and spread it around.

Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

Why in the hell should the government even be in the business of redistribution? That is taking money from those that earned it and giving it to those that didn't earn it. Institutionalized thievery and it is wrong to do it.

The Democrats believe in creating a welfare slave plantation in order to maintain a power base and that is despicable by any measurement of morality.

By the way, the Republicans also believe in maintaining the welfare state. When they are in power they never do anything to substantially reduce it and in cases like Reagan, Bush and Bush even grew it so they are not much better.

 

[Flash]

Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

By the way, all the money that is made in the US does not belong to the government so this stupid idea of tax deductions is somehow stealing money is absolutely Moon Bat crazy.

Businesses take legitimate business deductions just like you take legitimate deductions on your income tax. You do pay income tax, don't you?

If you think the tax code deductions prevents somebody from somehow getting money that they deserve then you are one ignorant Moon Bat.

The way to stop any unfair taxation is to stop collecting so much money in the form of taxation. Reduce the size of the government to the minimal size and return the tax revenue to the people that paid it in. That is the best way to be fair.

 

[JoeNormal]

Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

Businesses take legitimate business deductions just like you take legitimate deductions on your income tax. You do pay income tax, don't you?

If you think the tax code deductions prevents somebody from somehow getting money that they deserve then you are one ignorant Moon Bat.

Businesses lobby for influence in the tax structure. Legitimacy has nothing to do with it - it's all about what's advantageous to the businesses that can exert influence. Running a country costs money but provides services that are essential to those businesses so unless you're comfortable with a high degree of cognitive dissonance, you should be able to see there's a conflict of interest there.

 

[g5000]

Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

By the way, all the money that is made in the US does not belong to the government so this stupid idea of tax deductions is somehow stealing money is absolutely Moon Bat crazy.

Businesses take legitimate business deductions just like you take legitimate deductions on your income tax. You do pay income tax, don't you?

If you think the tax code deductions prevents somebody from somehow getting money that they deserve then you are one ignorant Moon Bat.

Those deductions, exemptions, and credits come out of other people's pockets and from government borrowing. It is a form of government welfare.

It is not my fault you are ignorant of how they work and ignore both sides of the tax expenditures equation.

 

[danielpalos]

There are many ways to redistribute wealth.

Obama takes the obvious road of "tax the rich more" and then take that money and spread it around.

Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

Why in the hell should the government even be in the business of redistribution? That is taking money from those that earned it and giving it to those that didn't earn it. Institutionalized thievery and it is wrong to do it.

How did you reach your conclusion? The general powers to pay the debts, and provide for the common defense and general welfare of the United States are clearly enumerated in Article 1, Section 8. Are you on the right?

 

[g5000]

I want you to imagine two next door neighbors, Robert and William. They each have an annual household income of $50,000.

Now I want you to imagine the cost of the stretch of road in front of their two houses represents their total tax burden. For the purposes of this illustration, it does not matter what the total cost is. That stretch of road represents all the costs of the services the government provides. Defense, infrastructure, post offices, food stamps, whatever.

Most budget battles are over how much the government does and how much it spends, and that is all well and good. But the point of this exercise is to demonstrate that no matter what the size of the budget is, these neighbors of equal incomes should have an equal tax burden.

Let’s say the stretch of road in front of both houses costs $10,000. Therefore, each neighbor’s share of the burden should be $5,000, or 10 percent of their incomes.

But thanks to government tax expenditures, that is not the case in America.

What are tax expenditures? They are those tax deductions, exemptions, and credits you take when you file your income taxes. Some pundits like to portray this process of taking advantage of exemptions, credits, and deductions as “getting to keep more of your own money”, but they are either deliberately misleading you, or they are woefully misinformed.

I am not saying you should leave money on the table. If the government puts it there for you to take, you would be a fool not to take it. But I am going to show you it is not really your money.

As it happens, Robert has a mortgage and so he gets a $500 mortgage interest deduction. He also has two kids, and gets another $1000 child tax credit.

Robert's tax bill, therefore, is reduced from $5,000 to $3,500. This is the part where those pundits jump up and down with glee and say Robert is getting to keep $1,500 of his own money.

Now let's look at William's situation and see whose money it really is that Robert is getting. William is a renter (or he has paid off his mortgage). And he is childless. So William cannot take those deductions.

The government still needs a total of $10,000 from Robert and William to pay for that stretch of road in front of their houses. How will the government make up for the $1,500 it is giving back to Robert?

It will have to get that money from William, if there is to be a balanced budget. Otherwise, the government will have to run a deficit and borrow the money from places like China or the Federal Reserve.

If the government wants to balance the budget, it will have get $6,500 out of William instead of $5,000. It accomplishes this by raising the tax rate considerably. Instead of a 10 percent rate, which is what William would have had under a system of equality, the government will have to raise the tax rate to 13 percent.

William's tax rate just jumped 30 percent to pay for Robert's deductions and credits! So while disingenous pundits cheer that Robert “gets to keep more of his own money”, they are ignoring that William is having to give up more of his money to keep the budget in balance.

In the real world, taxpayers will not stand for a 30 percent jump in taxes. They won't even stand for a 10 percent jump. In fact, there are quite a few politicians saying we need to lower everyone's tax rates even more, even though we are running annual deficits!

Since the taxpayers will only stand for so much in the way of a tax hike, the only other means to pay for all these deductions, credits, and exemptions is for the government to borrow the money that it is giving back to Robert.

Today, the government is handing out $1.2 trillion every year in these tax expenditures. This is the only real figure in this allegory. Every time you take advantage of a deduction or exemption or credit, you are responsible for everyone's tax rates being higher than they should be, and for the excessive annual deficits.

We live under an insane system where two people earning identical incomes are paying radically different amounts in taxes.

This is also true for businesses. Two businesses earning identical incomes are paying radically different corporate income taxes.

This insanity must end.

If we eliminated $1.2 trillion in government handouts, not only would be no longer have a deficit, we would be running a surplus. We could then use that surplus to lower everyone's tax rates and pay down the debt, and once the debt was paid off, we could further lower everyone's tax rates.

We whine about someone getting food stamps or welfare, and fail to see that every one of us is greedily demanding our own form of government handout. Capital depreciation deductions, mortgage interest deductions, employer-sponsored health insurance income exemptions. Most of these tax expenditures are highly regressive. The more income you have, the bigger the tax break you get.

 

[danielpalos]

Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

By the way, all the money that is made in the US does not belong to the government so this stupid idea of tax deductions is somehow stealing money is absolutely Moon Bat crazy.

Businesses take legitimate business deductions just like you take legitimate deductions on your income tax. You do pay income tax, don't you?

If you think the tax code deductions prevents somebody from somehow getting money that they deserve then you are one ignorant Moon Bat.

The way to stop any unfair taxation is to stop collecting so much money in the form of taxation. Reduce the size of the government to the minimal size and return the tax revenue to the people that paid it in. That is the best way to be fair.

If the right wants to lower taxes, why not end our wars on crime, drugs, poverty, and terror?

 

[g5000]

So like I said...Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

 

[danielpalos]

Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

Businesses take legitimate business deductions just like you take legitimate deductions on your income tax. You do pay income tax, don't you?

If you think the tax code deductions prevents somebody from somehow getting money that they deserve then you are one ignorant Moon Bat.

Businesses lobby for influence in the tax structure. Legitimacy has nothing to do with it - it's all about what's advantageous to the businesses that can exert influence. Running a country costs money but provides services that are essential to those businesses so unless you're comfortable with a high degree of cognitive dissonance, you should be able to see there's a conflict of interest there.

One body politic gets paid to pay the debts, and provide for the common defense and general welfare of the United States.

 

[bendog]

Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

By the way, all the money that is made in the US does not belong to the government so this stupid idea of tax deductions is somehow stealing money is absolutely Moon Bat crazy.

Businesses take legitimate business deductions just like you take legitimate deductions on your income tax. You do pay income tax, don't you?

If you think the tax code deductions prevents somebody from somehow getting money that they deserve then you are one ignorant Moon Bat.

Those deductions, exemptions, and credits come out of other people's pockets and from government borrowing. It is a form of government welfare.

It is not my fault you are ignorant of how they work and ignore both sides of the tax expenditures equation.

I'd be ok with tax credits for various middle class "give backs" if it was revenue neutral. I'd be willing to say we need serious soc sec and medicare reform if we even wanted to contemplate them, but the fact is Obama came to the bargaining table at least twice with compromises on those programs only to have the tea party threaten to eviscerate Boehner if he compromised even a little.

 

[danielpalos]

So like I said...Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

Actually, it is done also through public policy initiatives, such as the right's, "trickle down" by "bailing out the wealthiest" public policy initiatives.

 

[danielpalos]

Republicans prefer to redistribute wealth through the tax code. It's sneakier that way. And their way means higher tax rates for everyone, not just the rich.

By the way, all the money that is made in the US does not belong to the government so this stupid idea of tax deductions is somehow stealing money is absolutely Moon Bat crazy.

Businesses take legitimate business deductions just like you take legitimate deductions on your income tax. You do pay income tax, don't you?

If you think the tax code deductions prevents somebody from somehow getting money that they deserve then you are one ignorant Moon Bat.

Those deductions, exemptions, and credits come out of other people's pockets and from government borrowing. It is a form of government welfare.

It is not my fault you are ignorant of how they work and ignore both sides of the tax expenditures equation.

I'd be ok with tax credits for various middle class "give backs" if it was revenue neutral. I'd be willing to say we need serious soc sec and medicare reform if we even wanted to contemplate them, but the fact is Obama came to the bargaining table at least twice with compromises on those programs only to have the tea party threaten to eviscerate Boehner if he compromised even a little.

I believe our elected representatives should not have to feel guilty about their cushy part-time jobs. There is no need for them to have to work to micromanage our tax codes, when better Standards would be much more cost effective.