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Thread: White House Tax Plan Would Ask More of Millionaires

  1. #321
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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by sawyerloggingon View Post
    It won’t hurt the rich to pay more tax but it won’t help the economy either. This is political theater.
    I not certain by what standard you suggest it will not help the economy. Allowing the "temporary" tax reduction of 2001 to expire will return the tax rate structure to what it was (last time the economy was truly healthy), which will act to move toward deficit reduction while placing the burden therefore on those most able to bear it. It does not solve the problem, rather its a relatively painless way to make a giant step in the right direction.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by upsideguy View Post
    I not certain by what standard you suggest it will not help the economy. Allowing the "temporary" tax reduction of 2001 to expire will return the tax rate structure to what it was (last time the economy was truly healthy), which will act to move toward deficit reduction while placing the burden therefore on those most able to bear it. It does not solve the problem, rather its a relatively painless way to make a giant step in the right direction.
    It will make a very small step. That isn't an arguement for no revenue enhancements, I've mentioned my thoughts on capital gains many times, but the increases Obama talks about (so far it's only talk) is more likely going to have a very small deficit reduction footprint. Especially if Obama continues on his desire to spend, spend, spend.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by jamesrage View Post
    So in other words Buffett is paying less because he wants to not because the government said this is what you'll pay.
    No, you are incorrect:

    "Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent. "
    Buffett blasts system that lets him pay less tax than secretary - Times Online
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    Re: White House Tax Plan Would Ask More of Millionaires

    Defense_Spending_by_Country-570x268.jpg
    Quote Originally Posted by Conservative View Post
    Why is it that liberals and progressives(all the same) always worry about how much money is going to the Federal Govt. instead of focusing on how the govt. spends that money?
    I agree. I for one, see no reason for our government to spend 6x more than any other country on "defense". It seems to me the cost of our futile imperialism is about $500B per year too much.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by 1Perry View Post
    Buffetts salary is 100K. Sorry, I've had my fill of future promises as they are never addressed.
    I'm not sure where you got the idea that Obama is proposing an income tax rate increase, but that does not appear to be the case. It looks like he is proposing exactly what you suggested he should do:

    "Rather than an increase in tax rates, President Obama is proposing to eliminate the loopholes and tax breaks."
    "Buffett's Rule" Proposes New Taxes On Wealthy | Neon Tommy
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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Catawba View Post
    I'm not sure where you got the idea that Obama is proposing an income tax rate increase, but that does not appear to be the case. It looks like he is proposing exactly what you suggested he should do:

    "Rather than an increase in tax rates, President Obama is proposing to eliminate the loopholes and tax breaks."
    "Buffett's Rule" Proposes New Taxes On Wealthy | Neon Tommy
    Lower CG tax is not a "loophole". It's tax policy. If he actually ever produces an actual policy we'll see what it addresses. If it addresses CG's then I'll support it. Odds are that we never actually see a bill to be voted on.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by 1Perry View Post
    Lower CG tax is not a "loophole". It's tax policy. If he actually ever produces an actual policy we'll see what it addresses. If it addresses CG's then I'll support it. Odds are that we never actually see a bill to be voted on.
    Obama said loopholes and tax breaks, not just loopholes. Funny you should leave that out. I would be willing to bet that we do see a bill, and that it is voted down by the GOP.
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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Catawba View Post
    Obama said loopholes and tax breaks, not just loopholes. Funny you should leave that out. I would be willing to bet that we do see a bill, and that it is voted down by the GOP.
    Again, it isn't a "tax break" either. It's tax policy.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by 1Perry View Post
    Poliical correctness is far more a trait of the left.
    But this is NOT about mere political correctness. It is about a very clear statement that the rich should fire anyone working for them who espouses ideas that are not in sync with their own. Such authoritarian tendencies would destroy ones freedoms under the Constitution.
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    Re: White House Tax Plan Would Ask More of Millionaires

    If you take an unbiased look at history, simply looking at data, two things are evident:

    1. There is simply no correlation one way or another between changes in the top tax rate and changes in unemployment - so the idea that the rich create jobs is hard to prove

    2. There is a weak correlation, surpisingly, in the direction of economic growth between raising taxes on the rich and the economy growing. It's very possible, maybe likely that the reasons for the growth were unrelated to the taxes on the rich, but the point is that raising taxes on the rich certainly did not slow growth.

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