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

  1. #741
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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Thunder View Post
    that's nice. either way, what the SCOTUS says, goes. that's unless one supports sedition.
    Interesting. Based on your arguments I believe you would have opposed the first American revolution. I know you will oppose the second one. But that is where your arguments ultimately take us. If there is not redress, of there is no stepping back from disaster then disaster will come.

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

    Quote Originally Posted by TurtleDude View Post
    that is oh so interesting a charge coming from a union member
    UAW and proud of it

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

    Quote Originally Posted by TurtleDude View Post
    wow I think we have a harvard law review editor here.

    things change
    I think he really the one term Marxist president posting between rounds of golf, basketball, entertainment and making pronouncements every couple of days from under some nearby bridge. I could be wrong.

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

    Quote Originally Posted by teamosil View Post
    Well, I guess that is a "no"...
    wrong, but then again you didn't want to really think about it.

    dem policies have led to a massive amount of addicts dependent on government which have sapped the strength of the middle class who no longer looks to themselves to solve problems but rather they wait for the government to do that



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

    Quote Originally Posted by randel View Post
    UAW and proud of it
    a group not known for individual initiative or creative thinking but rather rote reaction



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

    Quote Originally Posted by TurtleDude View Post
    yeah Obumble is on record noting he will increase those taxes even if it does not increase tax revenues to make things "fair"

    the silly twit is not competent to be president. He is going to drive capital out of America
    That is his goal. It is a tenet of Marxism to wreck capitalism with steeply progressive taxation. Guess what the one term Marxist president continues to propose?

    Socialist utopia can only come after all are made uniformly miserable. The dictatorship of the proles will endure forever.

  7. #747
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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by TurtleDude View Post
    to save you the embarrassment ...

    the stupid clown says it right here
    I despise him and the party leadership. He is bad for the nation and bad for the people.

  8. #748
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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by pbrauer View Post
    Gibson's capital-gains tax assertion during debate disputed by economists | Media Matters for America


    From the CBO brief:



    Because taxes are paid on realized rather than accrued capital gains, taxpayers have a great deal of control over when they pay their capital gains taxes. By choosing to hold on to an asset, a taxpayer defers the tax. The incentive to do that -- even when it might otherwise be financially desirable to sell an asset -- is known as the lock-in effect. As a consequence of that incentive, the level of the tax rate can substantially influence when asset holders realize their gains, as can be seen particularly clearly when tax rates change. ... For instance, the Tax Reform Act of 1986 boosted capital gains tax rates effective at the beginning of 1987. Anticipating that increase, investors realized a huge amount of gains in 1986. Then, in 1987, realizations fell by almost as much, returning to a level comparable to that before the tax increase.
    [...]
    The sensitivity of realizations to gains tax rates raises the possibility that a cut in the rate could so increase realizations that revenue from capital gains taxes might rise as a consequence. Rising gains receipts in response to a rate cut are most likely to occur in the short run. Postponing or advancing realizations by a year is relatively easy compared with doing so over much longer periods. In addition, a stock of accumulated gains may be realized shortly after the rate is cut, but once that accumulation is "unlocked," the stock of accrued gains is smaller and realizations cannot continue at as fast a rate as they did initially. Thus, even though the responsiveness of realizations to a tax cut may not be enough to produce additional receipts over a long period, it may do so over a few years. The potentially large difference between the long- and short-term sensitivity of realizations to tax rates can mislead observers into assuming a greater permanent responsiveness than actually exists.

    First of all, this opinion that you have posted from Media Matters of all places, is the view of the liberal progressive left in this country, and we know that. Nothing new in that, and nothing to back up their assertion that Cap Gains cuts, or Corporate tax relief would only be short term, in fact just the opposite.

    The federal government uses tax policy to generate revenue and places the burden where it believes it will have the least effect. However, the "flypaper theory" of taxation (the belief that the burden of the tax sticks to where the government places the tax) often proves to be incorrect.

    Instead, tax shifting occurs. Shifting tax burden describes the situation where the economic reaction to a tax causes prices and output in the economy to change, thereby shifting part of the burden to others. An example of this shifting took place when the government placed a sales tax on luxury goods in 1991, assuming the rich could afford to pay the tax and would not change their spending habits. Unfortunately, demand for some luxury items dropped and industries such as personal aircraft manufacturing and boat building suffered, causing unemployment for many factory workers. Tax shifting must be considered when setting tax policy.

    Do Tax Cuts Stimulate The Economy?
    The CBO, although being quoted in true cherry pick fashion by both sides, is as a matter of actual fact often wrong in their assertions due to the fact that the way they are set up to score certain things boxes them in to only the information that any given side of the argument gives them, and can not make their own true evaluation through independent research.

    Now, Media Matters well known for cherry picking, and completely out of context argument purposely swayed against anything not in the progressive wheelhouse is disconcerting that anyone would post from them honestly.

    It would be to me like taking something from an opinion based right wing source, and passing it off as fact based, like say from the American Thinker. I like their articles, but they are opinion, and should be represented as such.

    The other end of that argument that I detest these days is the fallacy of the infallable un named generalization. So before you throw out there that "many", or "most" agree with ANYTHING you have to type in defense of your class war division of this country, know that it is crap before you start.

    So stick to facts, and we will all be better for it....Thanks.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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

    Quote Originally Posted by AdamT View Post
    So your theory is that Buffett supports higher taxes on the wealthy because it benefits the wealthy.... But you oppose higher taxes on the wealthy because it would harm the wealthy. That makes a lot of sense....
    I have explained that before. the uber rich don't have the same interests as most of those in the top tax brackets



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

    Quote Originally Posted by pbrauer View Post
    LOL Gibson doesn't understand what happens when you lower the capital gains tax. Sure the revenues will increase the following year. That's because those people will hold on to their capital assets until the lower tax rate is in effect. Overall though, the tax revenues are less than they would have been if the rates were not changed.
    remind me of your experience and dealing with capital gains income PB



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