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Thread: Obama: No Deal Without Tax Hikes

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by sangha View Post
    Actually, it's the republican way.
    No! No! No!

    When it comes to spending, the entitlements make up far more than half of the Federal Government's expenditures. These were Democrat plans.

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Guy Incognito View Post
    I disagree. From an economic perspective, everybody is equally greedy. It really doesn't matter the position, everybody wants more. This is the principle that the libertarian conception of the free market rests on, that everybody acts in their own economic self interest. This is also the principle by which communism fails; people will always exploit an incentive system to gain as much as they can rather than simply "giving according to their ability and taking according to their needs." The equal distribution of greed is the reason the free market works.
    But the equal distribution of greed is not what's at play here. Those with less want an equal distribution, in fact more than an equal distribution, from those who have more. It is the mob, being encouraged by unscrupulous politicians, wanting something for nothing.

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by sangha View Post
    Maybe you should draw picture.

    ...then take a red sharpie pen and scrawl along the top: "Obama: More than all of these guys combined"

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by LesGovt View Post
    Could you please provide a breakdown with regards to the Bush tax cuts as far as how much went to the "wealthy" and how much went to everyone else?
    Done



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    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: Obama: No Deal Without Tax Hikes

    Sangha? Do you have the chart showing 2008-2014?

    Thanks.
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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Catawba View Post
    As we have seen first hand through the last 30 years, there was no qualification to be successful, or even to produce jobs or invest in this country, to get your tax cut. The only stipulation was that your income be over a certain amount. It actually would have made some sense to provide tax cuts to only those that invest in new jobs or businesses in this country, but that was not the case.
    As in reduced capital gains taxes and not taxing dividend income? Both are tangible proof of investment in companies and therefore jobs.
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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by snilloctjc View Post
    As in reduced capital gains taxes and not taxing dividend income? Both are tangible proof of investment in companies and therefore jobs.
    More of the failed "Trickle down economics" propoganda. Trickle down economics has never worked.
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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by disneydude View Post
    In other words, you agree with the Republicans idea that it should be solved solely by cuts to the elderly and pooerest among us, and leave the wealthiest alone. Talk about class warfare.
    There are programs for the poorest already, as well as many volunteer agencies and they've been around for generations now.

    Where's the problem?

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Catawba View Post
    "WASHINGTON, Jan. 7 — Families earning more than $1 million a year saw their federal tax rates drop more sharply than any group in the country as a result of President Bush’s tax cuts, according to a new Congressional study.

    The study, by the nonpartisan Congressional Budget Office, also shows that tax rates for middle-income earners edged up in 2004, the most recent year for which data was available, while rates for people at the very top continued to decline."

    Economists and tax analysts have long known that the biggest dollar value of Mr. Bush’s tax cuts goes to people at the very top income levels. One reason is that two of his signature measures, tax cuts on investment income and a steady reduction of estate taxes, overwhelmingly benefit the wealthiest households.

    But the Congressional study offers additional insight because it incorporates information about what people paid in 2004, the first year in which taxpayers could take full advantage of the cuts on stock dividends and capital gains.

    The study estimates that the effective federal income tax rate, which excludes payroll taxes for Social Security and Medicare, declined modestly for people in the middle- and lower-income categories.

    Families in the middle fifth of annual earnings, who had average incomes of $56,200 in 2004, saw their average effective tax rate edge down to 2.9 percent in 2004 from 5 percent in 2000. That translated to an average tax cut of $1,180 per household, but the tax rate actually increased slightly from 2003.

    Tax cuts were much deeper, and affected far more money, for families in the highest income categories. Households in the top 1 percent of earnings, which had an average income of $1.25 million, saw their effective individual tax rates drop to 19.6 percent in 2004 from 24.2 percent in 2000. The rate cut was twice as deep as for middle-income families, and it translated to an average tax cut of almost $58,000."

    Tax Cuts Offer Most for Very Rich, Study Says - New York Times
    Terrific! Now, how about providing what the amounts of the cuts were in total for the "wealthy" and others? In case I am not clear, what amount did all of the "wealthy" get and how much did all of the others get?

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Guy Incognito View Post
    I disagree. From an economic perspective, everybody is equally greedy. It really doesn't matter the position, everybody wants more. This is the principle that the libertarian conception of the free market rests on, that everybody acts in their own economic self interest. This is also the principle by which communism fails; people will always exploit an incentive system to gain as much as they can rather than simply "giving according to their ability and taking according to their needs." The equal distribution of greed is the reason the free market works.
    That's not even a little bit true. Everyone is not "equally greedy". Many are content with what they have, or at least close to what they have. Very few must have it all. And even fewer are willing to do what is required to have it all. You are aware of the term "corruption" right? That is when someone's greed causes them to do things they would not otherwise do. Many people do not succumb to corruption, because they are not as greedy. Greed is not equally distributed, and it boggles my mind to hear religious people, especially Christians to whom greed is a major sin, defend it. It is ignorance and folly to think that we are all equivalent in our willingness to sacrifice the good of others for our own gain, and even stupider to think that somehow it will all balance out if we just let everyone tear into each other.
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