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Thread: White House Tax Plan Would Ask More of Millionaires

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    Re: White House Tax Plan Would Ask More of Millionaires

    Wrong, tax rates are irrelevant, deductions and what people actually pay are what really matters. Never in our history has more revene in the form of tax revenue been going to the Federal govt. with lower rates. Deductions have been eliminated especially for the higher income earners and deductions increased for the lower income earners making the rich pay more and 47% paying nothing.
    Really, under what metric. As of now we tax 14ish% of our GDP which is the lowest % since the 1920's. The highest income earners in America in the 50's paid "real rates" of 50% of their income. The highest wage earner now pay around 15ish%. Under what metric are people taxed higher than they were in the 30's-80's?

    Massive budget deficits came from too much spending, not from tax cuts. Tax revenue according to the U.S. Treasury increased dramatically after the Reagan and Bush tax cuts but not enough to offset the massive Congressional spending
    So if it wasn't for the Reagan tax cuts we would have the same GDP as we did in 1980's (since revenue is based on GDP growth). So deficits just magically occured at the same time that Reaganomics did, even though we've technically had a "big government" since the 40's.

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    Re: White House Tax Plan Would Ask More of Millionaires

    The problem is most people have no idea what the line items are for the budget and the role of the Federal Govt. Infrastructure is funded by excise taxes on gasoline, not FIT and yet excise taxes like SS taxes have been put on budget and used for everything other than infrastructure. that is a fact that liberals will never talk about.
    Gas taxes are not even covering the cost of our current roads and bridges. Why is it liberals never talk about it. i remember people making fun of Gore's "Lock box" when he said SS should be separate. It was also very bi-partisan. It's not some liberal thing, it's a political thing where parties are more than willing to hide budget shortfalls by using surpluses in other areas.

    In the 60's there were deductions for everything but that was ok since the budget was about 250 billion dollars, not 3.7 trllion. The point is I really don't care about the 47% that don't pay taxes because I know we have a spending problem not a revenue problem. If you want more money to the bloated Federal Govt. then I showed you where you can get it. Why are liberals talking about the top 1% paying their fair share when they pay 38% of all income taxes collected now. Why aren't liberals talking about the 47% that aren't paying any FIT to pay their fair share or is their fair share ZERO?
    Because the people that benefit the most from our system should pay the most.

  3. #1193
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    Re: White House Tax Plan Would Ask More of Millionaires

    iliveonramen;1059845234]Really, under what metric. As of now we tax 14ish% of our GDP which is the lowest % since the 1920's. The highest income earners in America in the 50's paid "real rates" of 50% of their income. The highest wage earner now pay around 15ish%. Under what metric are people taxed higher than they were in the 30's-80's?
    Do you know how much our GDP is and was? think about it. The actual dollars collected means so much more than the percentage of GDP. No one spends percentage change at the grocery store but instead spends actual dollars just like debt service is actual dollars not percentage. Liberals always use percentage change to argue for taking more of your income.

    So if it wasn't for the Reagan tax cuts we would have the same GDP as we did in 1980's (since revenue is based on GDP growth). So deficits just magically occured at the same time that Reaganomics did, even though we've technically had a "big government" since the 40's.
    Tax cuts mean more take home pay for the American worker. Reagan tax cuts doubled GDP and double tax revenue. Reagan had a Democrat House and Tip ONeil that had no problem spending money. Reagan set a record for vetoes but also signed legislation that had riders attached to defense legislation that was required to destroy the Soviet Union. Reagan had a 1.7 trillion dollar debt over 8 years. Obama exceeded that in about a year and two months and has addded 4 trillion in less than 3 years showing again that we have a spending problem not a revenue problem.

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    Re: White House Tax Plan Would Ask More of Millionaires

    iliveonramen;1059845258]Gas taxes are not even covering the cost of our current roads and bridges. Why is it liberals never talk about it. i remember people making fun of Gore's "Lock box" when he said SS should be separate. It was also very bi-partisan. It's not some liberal thing, it's a political thing where parties are more than willing to hide budget shortfalls by using surpluses in other areas.
    How do you know we don't get enough money from gas taxes to fund infrastructure? That so called lockbox was busted in the 60's when LBJ put SS on budget. You are right though SS money has been used by all Presidents EXCEPT Reagan who had to raise SS taxes to get the fund solvent again.


    Because the people that benefit the most from our system should pay the most.
    Here is the link to the line items in the budget so explain to me how the rich benefit more from these line items than anyone else?

    Current Report: Combined Statement of Receipts, Outlays, and Balances of the United States Government (Combined Statement): Publications & Guidance: Financial Management Service

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    You believe out Constitution established a policy of 53% of the taxpayers paying for the other 47%? Notice how liberals never really address the issue. The only "fair" policy is a flat tax and then watch liberals screaming.
    And you believe there is a price for citizenship? like you indicated here:

    Originally Posted by Conservative

    Right,and right now 47% of the people pay zero in FIT which funds the price of citizenship. so in the liberal world their "fair share" is zero.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by winston53660 View Post
    And you believe there is a price for citizenship? like you indicated here:
    There is a price to run the govt. and that is the budget of the United States. Right now the price being paid by 47% to fund that govt. is ZERO. Is that what you call paying their fair share?

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    There is a price to run the govt. and that is the budget of the United States. Right now the price being paid by 47% to fund that govt. is ZERO. Is that what you call paying their fair share?
    You're pretty lame at the backstroke

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by winston53660 View Post
    You're pretty lame at the backstroke
    Trollling is the only thing you can do.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    Trollling is the only thing you can do.
    If pointing out your fallacies is trolling so be it

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    The class warfare rhetoric is damaging to the country and no jobs are ever going to be created by pitting one class against another. This country wasn't built on the policies that Obama supports and has proposed. You can never build a strong economy by tearing down a major segment of that economy.
    What policies does Obama support that didn't build our country, SS and health care helped build the strongest middle class in our history. Taxes used to be lot more for the people at the top, higher than anything being proposed by Obama.

    You act as if eliminating some of the temporary tax breaks given to the wealthy to help reduce our debt is some kind of foreign scheme, rather than the tried and true method used to build a middle class after the Great Depression.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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