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Thread: Key republican bolts from debt ceiling talks

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    Re: Key republican bolts from debt ceiling talks

    I would say it is built on conservative philosophy - in particular the ability of competition to drive down price. and the while the Simpson-Bowles Commission did indeed reduce nominal rates more than Ryan did - they also continued to add to the debt for years. It's also important to note that that 2051 figure is exceedingly pessimistic, as it utilizes a static measure rather than a dynamic one. When they applied that to Medicare D it ended up coming in at 42% under their projections. However, I would be all for adding in more short-term cuts to work in tandem with Ryan's long-term entitlement restructuring, and we need to reform Social Security as well. However, the American people tend to shy away from massive systemic changes all at once - and so the problem has to be attacked piecemeal. Medicare is the number one driver of the debt, so we have to address it first, while altering our tax structure to pour nitrous oxide into the economy without losing revenue. Ryan's Roadmap suggested allowing people to own their own personal Social Security accounts, and I have shown elsewhere how doing so would allow low-income workers to retire Financially Independent. I would bet that's in the cards for the future,as well as greater short-term reductions once the Senate goes back to passing budgets.

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Gargantuan View Post
    Yes. No company deserves a subsidy.
    Well, you'll be happy to find out that I don't get any subsidies. Unless you're one of those clowns that thinks that taxing a company on it's gross revenue is actually a good idea.

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by upsideguy View Post
    Its actually the conservatives that want people making $40K to pay more, they think that group is exempt from income tax. Most of the discussion on tax increases is aimed at persons/small business with [B][taxable/B] incomes (which only occurs on revenues or total income much in excess of that) north of $250K or $1M.
    On personal taxes. Small businesses already pay taxes and don't qualify for the earned income credit.

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by apdst View Post
    Well, you'll be happy to find out that I don't get any subsidies. Unless you're one of those clowns that thinks that taxing a company on it's gross revenue is actually a good idea.
    In such a high amount like it is now at 35%? No.. should be extremely low, but that couldn't happen overnight. If anyone should get a subsidy it should be a small business such as yours... but even then that's picking and choosing. Just please not these gigantic corporations raking in billions a year.

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by apdst View Post
    Well, you'll be happy to find out that I don't get any subsidies. Unless you're one of those clowns that thinks that taxing a company on it's gross revenue is actually a good idea.
    what's your effective tax rate v revenue?

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by apdst View Post
    Not profitable? How do you figger that? I made a 20% profit in 2010; that's above the national average. So, where are you coming from, exactly?

    And, no, my business doesn't make 40 g's a year. Wait, let me rephrase that: my business didn't only make 40 g's a year...before the Libbos took over the government and ****ed everything up.
    If your gross income was only $40K/annual, then I'M NOT REFERRING TO YOUR TAXES BEING RAISED! $40/K a year is not what I'd classify as being wealthy. As a small business owner, your gross income is no more than my annual salary. So, neither of us can afford a tax increase. In effect, you're part of the middle-class - the very group President Obama has advocated for - IS advocating for - from Day-1!!! As such, I'm amazed that you of all people have been so vehemently opposed to him and his policies.

    I realize you're a small-business owner and you've got different issues to deal with than the every-day working man, but the President's tax policies have been pro-small business/pro-middle-class. Moreover, the tax threshold he has continuously referred to would only apply to those making +$250K. So, I'm quite puzzled by your perception of him.

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Gargantuan View Post
    That's right. There's no doubt the highest tax bracket should go back up, but that's not even the point of this discussion. They won't agree to cut subsidies or loopholes.
    I believe the only way we will get the government back to its proper role as servant instead of Master is to broaden the base so that everyone pays federal income taxes. After all, it is quite easy to be for tax rate increases when you are not paying any taxes at all. "I won't tax you. You won't tax me. Let's go tax that rich, white guy behind the tree."

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Misterveritis View Post
    I believe the only way we will get the government back to its proper role as servant instead of Master is to broaden the base so that everyone pays federal income taxes. After all, it is quite easy to be for tax rate increases when you are not paying any taxes at all. "I won't tax you. You won't tax me. Let's go tax that rich, white guy behind the tree."
    That's NOT what's going on here, MisterV. No particular racial group is being asked to contribute more than another. Is that what you really hear whenever you hear the phrase, "redistribution of wealth?" That it's an attack on the prosperity of white people only?

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    Re: Key republican bolts from debt ceiling talks

    I think at this point the tax code is extremely ****ed up. If we want to do this without any loopholes and just save it for another day, then put the tax rate back up to 39.6 on the highest earners. But I don't think that's the right thing to do. I think we need to redo the whole tax code - ZERO loopholes, ZERO credits, ZERO subsidies. Nothing. The highest tax bracket can be maybe 29 percent, and that would be on the highest income earners, earners in the millions of dollars and above. The current system of a 200,000 a year earning middle class family sharing the same burden with a billionaire is out of line.

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    Re: Key republican bolts from debt ceiling talks

    wapo's watching: On debt and Libya, it's President Obama vs. Senator Obama - The Washington Post

    On Capitol Hill this year, one of President Obama’s most troublesome critics has been Senator Obama.

    President Obama, for instance, wants Congress to raise the national debt limit. But his opponents have brought up a statement that then-Sen. Barack Obama made in 2006: The first-term Democrat representing Illinois said that merely debating a debt-limit increase was “a sign of leadership failure.”

    President Obama now insists that he had the right to dispatch U.S. forces to the conflict in Libya without authorization from Congress. Critics have noted that Sen. Obama seemed to feel differently about the proper use of military force in 2007.

    Rep. Dennis J. Kucinich (D-Ohio) even carries a quote from Sen. Obama in his pocket, to show people who don’t believe it.

    “The president does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation,” Obama said four years ago.

    The past is always an occupational hazard for presidents, who find themselves disowning statements they made when they were candidates or legislators embroiled in partisan fights.

    But Obama seems to have gotten himself into unusually hot water this year. In three different battles, his own words have become weapons for both Democrats and Republicans.

    Asked about the apparent contradictions last week, a White House spokesman said that “the president has already explained his position on each of these issues, and we will let those responses speak for themselves.”

    On the debt ceiling, Obama has said his past position was a mistake. Moreover, he has called on Republicans not to make the same mistake.
    it all comes down to character

    and, in this case, competence

    leadership, anyone?

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