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Tax cuts for the rich

Bobcat

Bobcat

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I have tried to get one of you on the left to respond to this but no one has.

You guys and obama keep talking about tax cuts for the rich being proposed by romney and ryan. Exactly what taxes are they wanting to cut that will only benefit the rich.

you keep saying it so you must know what they are. How about sharing?

Exactly which elements of the tax code are they wanting to change that will benefit only the rich.
 
Its only a tax decrease for the "rich" if you examine it from a raw total revenue angle based on income.

If you reduce the rates for everyone and expand the tax base, everyone pays less except for those that paid nothing to begin with. Because we have such a large population that currently doesn't pay federal income tax, those that fall into that category currently will get a tax increase while the rest of the population gets a decrease. So the thought process is that if you currently pay no federal income tax, you aren't "rich", hence the argument that the "rich" get the tax decrease.

Its quite simple logic, so long as you gyrate your hips while you talk.
 
Samhain said:
Its only a tax decrease for the "rich" if you examine it from a raw total revenue angle based on income.

If you reduce the rates for everyone and expand the tax base, everyone pays less except for those that paid nothing to begin with. Because we have such a large population that currently doesn't pay federal income tax, those that fall into that category currently will get a tax increase while the rest of the population gets a decrease. So the thought process is that if you currently pay no federal income tax, you aren't "rich", hence the argument that the "rich" get the tax decrease.

Its quite simple logic, so long as you gyrate your hips while you talk.
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LOL quite right. gyration is needed to comprehend liberal logic.
 
Every nonpartisan analysis of the 10%/25% plan says it will result in huge benefits (pay less) for the wealthy.

Ryan claims his plan is deficit neutral (that's how he gets away with "not a tax cut") by eliminating unidentified tax deductions and closing tax unspecified tax loopholes.


FactCheck.org : Does House Budget Plan Cut Taxes or Not?

also --

In the more than two years since his budget was unveiled, Ryan has not specified any tax breaks he would eliminate. Independent analyses have shown that offsetting the tax cuts would require changing things such as the mortgage interest deduction, the tax exclusion for employer-financed health insurance or other popular tax preferences widely used by middle-income households.
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A closer look at Paul Ryan's federal budget plan - latimes.com
 
hazlnut said:
Every nonpartisan analysis of the 10%/25% plan says it will result in huge benefits (pay less) for the wealthy.

Ryan claims his plan is deficit neutral (that's how he gets away with "not a tax cut") by eliminating unidentified tax deductions and closing tax unspecified tax loopholes.


FactCheck.org : Does House Budget Plan Cut Taxes or Not?

also --



A closer look at Paul Ryan's federal budget plan - latimes.com
Click to expand...

Ok, nice dodge. but I asked a specific question about a claim that obama and you dems keep making. Tell us what taxes ryan's budget cuts that only benefit the rich.

Of course a person who pays a million in taxes will save more from a 10% cut than a person who pays a hundred. Is that what you are claiming is a tax cut for the rich? are you really that ignorant?
 
Bobcat said:
I have tried to get one of you on the left to respond to this but no one has.

You guys and obama keep talking about tax cuts for the rich being proposed by romney and ryan. Exactly what taxes are they wanting to cut that will only benefit the rich.

you keep saying it so you must know what they are. How about sharing?

Exactly which elements of the tax code are they wanting to change that will benefit only the rich.
Click to expand...

You are exactly right...Romney Ryan want the Bush tax cuts extended for everyone..........Anything else is left wing talking points.....
 
Bobcat said:
I have tried to get one of you on the left to respond to this but no one has.

You guys and obama keep talking about tax cuts for the rich being proposed by romney and ryan. Exactly what taxes are they wanting to cut that will only benefit the rich.

you keep saying it so you must know what they are. How about sharing?

Exactly which elements of the tax code are they wanting to change that will benefit only the rich.
Click to expand...

Romney's plan would result in a major decrease in taxes paid by the wealthy, with a cut in marginal rate large enough that removing exemptions/deductions would not balance it out(note this is for most of the wealthy, individual mileage may vary). Ryan's plan cuts rates to the same level IIRC, leading to the same issue.

How Paul Ryan's Tax Plan Measures Up For Americans - ABC News

Most of Romney's income is comprised of interest income, capital gains and dividends, which are not taxed under the plan Ryan first introduced in 2010.


Ryan proposed two tax rates, 10 and 25 percent, instead of the current six
Click to expand...

Tax

Make permanent, across-the-board 20 percent cut in marginal rates
Click to expand...

http://www.brookings.edu/~/media/research/files/papers/2012/8/01%20tax%20reform%20brown%20gale%20looney/01%20tax%20reform%20brown%20gale%20looney.pdf
 
They will lower capital gains taxes. Simple as that. Mega rich dont work you know. And the poor dont pay any Cap. gains taxes.

How about we charge unlimtied FICA on wages and capital gains......LOL THat will tax the rich the SAME as the poor.
 
Bobcat said:
I have tried to get one of you on the left to respond to this but no one has.

You guys and obama keep talking about tax cuts for the rich being proposed by romney and ryan. Exactly what taxes are they wanting to cut that will only benefit the rich.

you keep saying it so you must know what they are. How about sharing?

Exactly which elements of the tax code are they wanting to change that will benefit only the rich.
Click to expand...

It's a good question considering Romney so far has been extremely vague when prompted with just about every question. Fortunately they have a website that even their supporters don't read:

http://www.mittromney.com/issues/tax said:
Make permanent, across-the-board 20 percent cut in marginal rates
Click to expand...
Before anybody goes totally dumb by saying it's fair because it's 20% for everybody lets use our brains and a little bit of math - that's a 2% reduction for the lower bracket and a 7% for the upper bracket.
 
274ina said:
They will lower capital gains taxes. Simple as that. Mega rich dont work you know. And the poor dont pay any Cap. gains taxes.

How about we charge unlimtied FICA on wages and capital gains......LOL THat will tax the rich the SAME as the poor.
Click to expand...

anyone with a 401K or an IRA would benefit from a reduction in cap gains tax.

I have said many times that FICA should becollected on all income, not just the first 106K
 
pdog said:
It's a good question considering Romney so far has been extremely vague when prompted with just about every question. Fortunately they have a website that even their supporters don't read:


Before anybody goes totally dumb by saying it's fair because it's 20% for everybody lets use our brains and a little bit of math - that's a 2% reduction for the lower bracket and a 7% for the upper bracket.
Click to expand...

what impact does it have on the 50% who pay zero federal income tax? what exactly does "pay your fair share" mean to you?
 
Bobcat said:
anyone with a 401K or an IRA would benefit from a reduction in cap gains tax.

I have said many times that FICA should becollected on all income, not just the first 106K
Click to expand...

The wealthy would disproportionately benefit from those tax cuts. The middle class cannot stack over 14 million in an IRA.
 
Redress said:
The wealthy would disproportionately benefit from those tax cuts. The middle class cannot stack over 14 million in an IRA.
Click to expand...


that is because the rich disproportionately pay the taxes that were cut
 
TurtleDude said:
that is because the rich disproportionately pay the taxes that were cut
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No, that is not why. The rich have access to things the middle class do not. The middle class cannot accumulate an IRA like Romney, since they simply do not have access to tools Romney had. The middle class is not going to get their compensation package designed with paying lower taxes in mind. And so on and so forth. None of those have anything to do with paying more raw dollars.
 
Redress said:
No, that is not why. The rich have access to things the middle class do not. The middle class cannot accumulate an IRA like Romney, since they simply do not have access to tools Romney had. The middle class is not going to get their compensation package designed with paying lower taxes in mind. And so on and so forth. None of those have anything to do with paying more raw dollars.
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the rich are the only group that pay a HIGHER SHARE of the income tax BURDEN than their share of the INCOME.
 
TurtleDude said:
the rich are the only group that pay a HIGHER SHARE of the income tax BURDEN than their share of the INCOME.
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Depends on who you are talking about. Some pay none, some pay a relatively high effective rate. Irrelevant stats are irrelevant.
 
Redress said:
No, that is not why. The rich have access to things the middle class do not. The middle class cannot accumulate an IRA like Romney, since they simply do not have access to tools Romney had. The middle class is not going to get their compensation package designed with paying lower taxes in mind. And so on and so forth. None of those have anything to do with paying more raw dollars.
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Romney's IRA was stacked with money he had earned. Your proposal is to take money you had no part in earning, and dividing it among people who also had no part in earning the money. Marx would be oh so proud.
 
Masada said:
Romney's IRA was stacked with money he had earned. Your proposal is to take money you had no part in earning, and dividing it among people who also had no part in earning the money. Marx would be oh so proud.
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Well, sorta, but not exactly. Most of us cannot buy companies and then claim pennies on the dollar value.
 
Redress said:
Depends on who you are talking about. Some pay none, some pay a relatively high effective rate. Irrelevant stats are irrelevant.
Click to expand...

people who didn't pay taxes at the high brackets didn't get cuts.

the bottom line is that the top one percent made 22% of the FI and paid almost 40% of the FIT

they paid ALMOST all the death tax so consequently they got almost all the death tax cuts
 
TurtleDude said:
people who didn't pay taxes at the high brackets didn't get cuts.

the bottom line is that the top one percent made 22% of the FI and paid almost 40% of the FIT

they paid ALMOST all the death tax so consequently they got almost all the death tax cuts
Click to expand...

I did not claim people who did not pay taxes didn't get cuts. Straw man.

The rest is irrelevant since effective tax rates vary wildly.
 
Redress said:
I did not claim people who did not pay taxes didn't get cuts. Straw man.

The rest is irrelevant since effective tax rates vary wildly.
Click to expand...

so what is the point of ranting about the rich got most of the tax cuts?



its a captain obvious moment
 
TurtleDude said:
so what is the point of ranting about the rich got most of the tax cuts?



its a captain obvious moment
Click to expand...



lol....well done. Yes, they complain about people who don't pay any federal income taxes not getting a tax cut. Uhhhhh, how can you cut a tax that they don't pay?

I miss captain obvious, and wish he would make a comeback in this campaign cycle......I'm thinking he might.....
 
48% of Americans pay NO federal income tax. Sooooo, if Obama wants to cut their taxes, which taxes would he cut? They are already not paying any federal income taxes. So would he cut the national sales tax? Because that would be a tax cut for everyone, including the rich.

I mean, we all know liberals aren't too good at following an idea all the way through. So, it's a tremendous question. Half the country already pays nothing in federal income taxes, so what tax would he cut in order to give them a tax break and not include the rich?
 
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