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

  1. #291
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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by winston53660 View Post
    Okay Scrooge.
    why not just concede you cannot counter the argument?



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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
    You can attempt to politicize it as much as you desire. Increasing taxes on citizens with very low savings rates does not raise revenue. Does it appear logical to you that increasing taxes on people with very low savings rates will decrease overall consumption, and therefore both output and tax revenue will decrease as a result from such action?
    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
    You can attempt to politicize it as much as you desire. Increasing taxes on citizens with very low savings rates does not raise revenue. Does it appear logical to you that increasing taxes on people with very low savings rates will decrease overall consumption, and therefore both output and tax revenue will decrease as a result from such action?
    increasing taxes on those who tend to vote for big spending politicians might dissuade them from engaging in such idiocy in the future



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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?
    We know that corporations on average do not pay the marginal rate of 35% the effective rate is something like 23%. That is because the tax law is filled with deductions for all sorts of things including trying to pick winners and losers. Also we could establish "enterprise zones". Places like many inner cities where unemployment is very high. We collect no taxes from people who don't work and corporations that send that labor overseas and set up a company over there and pays tax to a foreign government. Why not have a minimal tax or even no tax in those zones and get people employed rather than allow those jobs to go overseas. These will mainly be factory jobs and perhaps low paying. But it gives people the dignity of a job. Allows their children to see that their parents go off to work and instill a work ethic that seems lacking in some parts of our society.

    We need that bottom rung of the ladder to be filled with Americans rather than folks from other nations. The next generation has that work ethic instilled, their kids to go school so they can get a better job than their parents. To me that is giving folks the opportunity at the American dream. One generation starts on the ladder and subsequent generations move up the ladder.

  5. #295
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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    I agree this is a Tax increase and confirms Obama has lying once again and I agree he keeps lowering the amount you can make before he wants to have you switch sides in his personal class war.

    I have got news for him he in the class I feel a War with, metaphorically of course.

    BTW Obama's poll numbers have remained in the dumper and the only polls that say otherwise I question.

    Here is one that fluctuates, but only a point or two week to week:
    The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows that 22% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as president. Thirty-nine percent (39%) Strongly Disapprove, giving Obama a Presidential Approval Index rating of -17.
    Daily Presidential Tracking Poll - Rasmussen Reports™

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

    Quote Originally Posted by TurtleDude View Post
    increasing taxes on those who tend to vote for big spending politicians mightdissuade them from engaging in such idiocy in the future
    This is pure conjecture. We do know that it will harm the economy more so than provide revenue necessary to reduce deficits (which only increase future tax liabilities). Starve the beast failed.
    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
    This is pure conjecture. We do know that it will harm the economy more so than provide revenue necessary to reduce deficits (which only increase future tax liabilities). Starve the beast failed.
    take a guess

    who is likely to want more government spending

    someone who does not suffer higher taxes when the government spends more

    or those who do?



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

    Quote Originally Posted by TurtleDude View Post
    take a guess

    who is likely to want more government spending

    someone who does not suffer higher taxes when the government spends more

    or those who do?
    Your reply does not address my statement; not to mention you do not have any data to justify your position. No self-respecting credit analyst would agree with the notion that a sovereign debtor "increases" their credit worthiness via the policy you have described.

    We want to have a bit of stock debt being as we possess the worlds reserve currency.
    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 TurtleDude View Post
    I find that hard to believe.
    Believe it or not. Knowing the tax system and how to minimize taxes is how I make my living. Warren Buffet's comparison that he seems to do every now and again between him and his secretary is pretty accurate, and I'm far closer to his secretary in tax rate.

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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
    Get more, pay more. Seems fair. The rich are in no way wanting to trade places with the poor. They are not over burdened. Neither am I. In no way do I begruge those who pay less than I do, or feel sorry for those who pay more. I think you protest too much.

    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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