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Thread: Obama to propose $1.5 trillion in new tax revenue

  1. #171
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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Simon W. Moon View Post
    I am not really asking if it would work so much as to whether or not it would be ideologically acceptable.
    Ideology is what stands in the way of practicality on a wide variety of issues in and out of politics. As abstract and ephemeral as ideology is, it does have real world effects and implications.
    I think our society will accept anything that "sounds good". Could it work? Maybe. Is it worth trying to implement a "band-aid" plan when the real solution lies elsewhere?

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by apdst View Post
    IOW, the government can't create jobs, so let's soak tax payers for as much as we can.
    When Eisenhower was president, the highest tax rate was 90%, and unemployment was low. No, I am not suggesting that we tax at 90% again. I just brought up this fact to show the lie that is being passed around that it is tax cuts that create jobs. Jobs are created when people buy stuff, and when the middle class is squeezed more than the rich, they buy less, and fewer jobs are created as a result. It's all about supply and demand. What can kill demand, and therefore jobs? Greed.
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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Gipper View Post
    The reason the middle class can pay taxes is because the rich allow them an opportunity to.
    So, the people who actually, you know, work, are only allowed to work by the grace of the generally non-working super wealthy and they should be thanking them for that opportunity and not questioning the 50% that the super wealthy skim off the top of the profits they generate, but instead looking for ways to give the super wealthy more. So things are just figured out by birth. Super wealthy people are born superior to the serfs and have a divine right to all that is produced in the land where the serfs have a god given duty to take up the toil that the super wealthy permit them. Is that about right?

    So you aren't so much a libertarian as you are interested in returning to feudalism?

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by danarhea View Post
    When Eisenhower was president, the highest tax rate was 90%, and unemployment was low. No, I am not suggesting that we tax at 90% again. I just brought up this fact to show the lie that is being passed around that it is tax cuts that create jobs. Jobs are created when people buy stuff, and when the middle class is squeezed more than the rich, they buy less, and fewer jobs are created as a result. It's all about supply and demand. What can kill demand, and therefore jobs? Greed.
    yet the effective top rate wasn't much different due to all the breaks, loopholes etc and that top rate applied to far less people and was justified in paying off a massive war

    we also were the only industrial power left standing after WWII

    IS there anyone out there who suggests TAX HIKES create jobs? that is the main issue



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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by TurtleDude View Post
    yet the effective top rate wasn't much different due to all the breaks, loopholes etc and that top rate applied to far less people and was justified in paying off a massive war

    we also were the only industrial power left standing after WWII

    IS there anyone out there who suggests TAX HIKES create jobs? that is the main issue
    Apples and oranges. Demand creates jobs. When the middle and lower classes have no money, there is no demand. very simple.
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by jasonxe View Post
    I'm blah to it. Govt will find new ways to spend, corps will move more capital to overseas, our debt is still going to go up and nobody wants to tackle the big elephants in the room. Short sighted plan that is expected from the establishment to keep the sheep, sheepie. Good political tactic, nothing else.
    It is ironic that your reaction to the situation is also the cause of it. People not caring what the government was up to is EXACTLY what got us here. Get un-blah and start taking responsibility.

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by danarhea View Post
    Apples and oranges. Demand creates jobs. When the middle and lower classes have no money, there is no demand. very simple.
    It is not apples to oranges, it is the same argument. Is hiking taxes going to solve the fact that there is no demand?

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Smokified View Post
    It is not apples to oranges, it is the same argument. Is hiking taxes going to solve the fact that there is no demand?
    Well both raising taxes and cutting spending hurt employment and GDP in the short term. But we need to cut deficits, so we need to do one or the other or both. Trying to make up the whole thing just through spending cuts would hurt demand more. Trying to make up the whole thing with just tax hikes would hurt supply more. Right now we have too much supply relative to demand, so raising taxes on the top is the best of the bad options. Losing supply would hurt us less than losing demand since we are hurting more for demand than for supply.

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by danarhea View Post
    Apples and oranges. Demand creates jobs. When the middle and lower classes have no money, there is no demand. very simple.
    jacking up taxes will not create more jobs or more demand



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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by teamosil View Post
    Well both raising taxes and cutting spending hurt employment and GDP in the short term. But we need to cut deficits, so we need to do one or the other or both. Trying to make up the whole thing just through spending cuts would hurt demand more. Trying to make up the whole thing with just tax hikes would hurt supply more. Right now we have too much supply relative to demand, so raising taxes on the top is the best of the bad options. Losing supply would hurt us less than losing demand since we are hurting more for demand than for supply.
    We can't come anywhere close to make up the deficit with tax increases. That isn't to say that there should be none, but it's going to be equal to wizzing in the ocean as far as addressing the deficit goes.

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