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Thread: GOP may OK tax increase that Obama hopes to block

  1. #91
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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by Catawba View Post
    Class wars can get ugly when the underclasses are trampled on too much.
    It can get even nastier when they spend their lives expecting people to take care of them and suddenly the government realizes they have gone broke in the process.

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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by donsutherland1 View Post
    The temporary reduction in the payroll tax has reduced cash inflows to Social Security. It has had an actuarial impact on the program's long-term imbalances. Moreover, the Social Security Disability Insurance program is nearing insolvency. Unless some offset is found to focus on Social Security's long-term future, which is vital given the importance of the program, I don't necessarily disagree with allowing the temporary tax reduction to expire. This, in my opinion, is a clear example where the long-term should take precedence over the short-term.
    Please, the SS system is no where near insolvency. In fact, relatively speaking, its the best funded program in Washington. With no change in SS, the system can pay full benefits for another 26 years. What other federal program can make that claim? The federal government has been using payroll tax receipts for years to mask declining federal income tax revenue (in fact, to pay for tax cuts). Using this as an economic stimulus is probably one of the most effective tools going as its borrowing on a program that, comparatively speaking, is reasonably funded and giving it, generally, to lower wage works; people that live more hand to mouth, and will put the money immediately back into the economy. Sorry, buy if you are for the Bush tax cuts but believe this tax should expire, you a nothing short of a hypocrite (or just ignorant about economics).
    Last edited by upsideguy; 08-27-11 at 02:10 AM.

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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by Misterveritis View Post
    I believe it is extra-constitutional. For the good of the nation it needs to be phased out.
    Then the government had better give me my goddamned money back that I have paid into it for more than 40 years....... Oh, that's right. I'm not Morgan Stanley. Morgan Stanley gets the government handout, at MY expense, and my own money gets ripped off. You scream about redistribution of wealth, and here you support it. It's only bad if corporations lose, but if regular Americans (real persons, not artificial ones) lose, you are all for it.
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by danarhea View Post
    Then the government had better give me my goddamned money back that I have paid into it for more than 40 years....... Oh, that's right. I'm not Morgan Stanley. Morgan Stanley gets the government handout, at MY expense, and my own money gets ripped off. You scream about redistribution of wealth, and here you support it. It's only bad if corporations lose, but if regular Americans (real persons, not artificial ones) lose, you are all for it.
    the only way ss gets taken away is if WE allow it.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by VanceMack View Post
    It can get even nastier when they spend their lives expecting people to take care of them and suddenly the government realizes they have gone broke in the process.
    historically, that is indeed the cause of the more violent revolutions. an under-referenced factor in this Arab Spring phenomena is that Arab Governments have spent a lot of the last two decades buying off their people - the ME is basically rentier states with the exception of Israel. In particular, the Arab states made the same error on higher-education that many in this country make today - assuming that Just Sending Everyone To College would magically create those higher paying positions that college graduates had previously attained. So the government basically subsidized an entire generation into college degrees, promised them it would get them great jobs, but then neglected the kinds of market reforms that would actually produce those jobs.

    Disillusioned Entitlement Seekers = Rebellion

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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by liblady View Post
    the only way ss gets taken away is if WE allow it.
    this is incorrect. SS will either be reformed and reduced over time because we choose to do so, or it will be dramatically reduced suddenly because the US Government has declared bankruptcy and no longer has the ability to get the money.

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    Re: GOP may OK tax increase that Obama hopes to block

    So the GOP wants to raise taxes on the poor, and continue tax breaks on the rich?
    Ted Cruz is the dumbest person alive.

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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by danarhea View Post
    Then the government had better give me my goddamned money back that I have paid into it for more than 40 years....... Oh, that's right. I'm not Morgan Stanley. Morgan Stanley gets the government handout, at MY expense, and my own money gets ripped off. You scream about redistribution of wealth, and here you support it. It's only bad if corporations lose, but if regular Americans (real persons, not artificial ones) lose, you are all for it.
    that money is called "taxes". you pay them, and you have no right whatsoever to ever get them back. that is why you have no actual 'right' to a social security benefit. the notion that "you have money in the system" is a pleasant artificiality that we like to tell ourselves; but in reality that money went to the "Congressman John C Smith Turnpike", and it's not coming back.

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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by The Giant Noodle View Post
    Youre right! And the wealthy should pay for it with a 10% tax increase. They can afford it. Im tired of selfish people. Im also tired of shelfish people.

    (BTW there are selfish liberals too that are in poverty and CAN help it. Im not dismissing them. But THEY dont have any money to help)
    demanding OTHERS pay more taxes is the epitome of selfishness



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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by upsideguy View Post
    Please, the SS system is no where near insolvency.
    in fact it is, though to be specific Medicare will be dragging it down (along with everything else).

    In fact, relatively speaking, its the best funded program in Washington
    the hilarious thing is, that might actually be right

    With no change in SS, the system can pay full benefits for another 26 years.
    this is incorrect. for this to occur, the government would have to be able to fully pay back the "trust fund" for all the money it has taken out of it for the past couple of decades. PROBLEM: this would require that the general fund currently be running a surplus. The general fund is instead currently running around a $1.5 Trillion deficit, and even under the Ryan Plan doesn't begin to run a surplus for decades. Realistically speaking, there is only one way to pay back the Social Security Trust Fund - and that is to gut Medicare. Aren't Choices Fun?!?

    What other federal program can make that claim? The federal government has been using payroll tax receipts for years to mask declining federal income tax revenue (in fact, to pay for tax cuts). Using this as an economic stimulus is probably one of the most effective tools going as its borrowing on a program that, comparatively speaking, is reasonably funded and giving it, generally, to lower wage works; people that live more hand to mouth, and will put the money immediately back into the economy. Sorry, buy if you are for the Bush tax cuts but believe this tax should expire, you a nothing short of a hypocrite (or just ignorant about economics).
    hilarious how you say "ignorant about economics", but what you mean is "not a believer in Keynesian Witch-Doctor-ism"

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