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Thread: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by TurtleDude View Post
    Its so easy to justify someone else getting tax increases
    Tax increases are a certainty when a nation engages in deficit spending during periods of low unemployment.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by Goldenboy219 View Post
    Nor do i disagree that many tax cuts are in order; timing is the essence of everything.
    the two need to dovetail if we are to have a rationale and competitive tax policy.

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by Boo Radley View Post
    I'm not entirely in disagreement with you. I don't think taxes play that large a role in growth, and that even if there were no taxes at all, business would still be leaving, largely because we can't compete with low wages and lack of health compensation and benefits. But that's another issue.

    However, I think step one would be to clean it up. Remove the breaks and loopholes, and then reassess. I would support that.
    No one thing, including taxes is the panacea for all of our ills. We do need to get away from employer based health care. that is why we should all be disappointed that a single payer system was not instituted.

    Taxes should not be minimized though. After all corporations care about after tax rather than pre tax profit. Why do you think Ireland ( yes I know they are a mess now also) got so many hi tech manufacturing jobs to move there. They lowered the corporate tax rate to 12% if I am not mistaken.

    Like I said I could list a number of actions other than taxes that will spur growth. I am in the camp is that correctly it is one of several negatives, not the sole negative as some want to portray. But on the other hand to think it is of little or no consequence is equally wrong in my view.

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by washunut View Post
    No one thing, including taxes is the panacea for all of our ills. We do need to get away from employer based health care. that is why we should all be disappointed that a single payer system was not instituted.

    Taxes should not be minimized though. After all corporations care about after tax rather than pre tax profit. Why do you think Ireland ( yes I know they are a mess now also) got so many hi tech manufacturing jobs to move there. They lowered the corporate tax rate to 12% if I am not mistaken.

    Like I said I could list a number of actions other than taxes that will spur growth. I am in the camp is that correctly it is one of several negatives, not the sole negative as some want to portray. But on the other hand to think it is of little or no consequence is equally wrong in my view.
    I won't argue they won't think about it, so we're likely not that far apart. I just think it is lower on the list.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by washunut View Post
    No one thing, including taxes is the panacea for all of our ills. We do need to get away from employer based health care. that is why we should all be disappointed that a single payer system was not instituted.

    Taxes should not be minimized though. After all corporations care about after tax rather than pre tax profit. Why do you think Ireland ( yes I know they are a mess now also) got so many hi tech manufacturing jobs to move there. They lowered the corporate tax rate to 12% if I am not mistaken.

    Like I said I could list a number of actions other than taxes that will spur growth. I am in the camp is that correctly it is one of several negatives, not the sole negative as some want to portray. But on the other hand to think it is of little or no consequence is equally wrong in my view.
    How low can you go though?

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by winston53660 View Post
    How low can you go though?
    I really do not think anyone believes that current tax policy discourages growth.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by Goldenboy219 View Post
    Tax increases are a certainty when a nation engages in deficit spending during periods of low unemployment.
    shared sacrifice to the dems mean the rich pay more and no one else does



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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by TurtleDude View Post
    shared sacrifice to the dems mean the rich pay more and no one else does
    The poor already carry more of a tax burden via regressive taxes.

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by winston53660 View Post
    The poor already carry more of a tax burden via regressive taxes.
    they pay far less of what they use than the rich do. What matters to me is how much money they pay, not their ability to pay which is based on the marxist nonsense of From Each according to their ability

    and when it comes to income taxes which is what is at stake in this discussion you are absolutely and completely wrong-again



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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by TurtleDude View Post
    they pay far less of what they use than the rich do. What matters to me is how much money they pay, not their ability to pay which is based on the marxist nonsense of From Each according to their ability

    and when it comes to income taxes which is what is at stake in this discussion you are absolutely and completely wrong-again
    Okay Scrooge.

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