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Thread: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by j-mac View Post
    Because of the lack of action early on this road to ruin, I am actually beginning to agree somewhat with this. However, because of past dishonesty in matter such as this meme, I would say that at this time, before one damned red cent is raised in taxes, the spending cuts have to come first and be verified as in place.

    j-mac
    Economists recommend cutting spending in a boom economy. I wouldn't exactly call our economy booming at this point.
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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Catawba View Post
    Economists recommend cutting spending in a boom economy. I wouldn't exactly call our economy booming at this point.

    Then I would say no. The track record of libs to make good on their promises is at best dismal.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Catawba View Post
    Economists recommend cutting spending in a boom economy. I wouldn't exactly call our economy booming at this point.
    But economist also recommend against letting total debt get as high as it is...and subsequently as high as projected.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Dickieboy View Post
    But economist also recommend against letting total debt get as high as it is...and subsequently as high as projected.
    Yep, and the time they say to cut spending is in boom times. Are we there yet?
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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Catawba View Post
    Yep, and the time they say to cut spending is in boom times. Are we there yet?
    Oh, and those economists that you are relying on for half the story here are advocating a tax hike in a recession? If so they aren't much of an economist.

    Look Cat, the bottom line is that we may indeed need both this time around but, I want to see the demo's make good first. No Lucy and the football with Charlie Brown this time. Also, in with those tax increases if they come about, need to include a broader base of Americans. Biden talked about getting some skin in the game to be patriotic, well let's see the 47% of people sponging off my labor kick in as well.

    j-mac
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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by j-mac View Post
    Oh, and those economists that you are relying on for half the story here are advocating a tax hike in a recession? If so they aren't much of an economist.

    Look Cat, the bottom line is that we may indeed need both this time around but, I want to see the demo's make good first. No Lucy and the football with Charlie Brown this time. Also, in with those tax increases if they come about, need to include a broader base of Americans. Biden talked about getting some skin in the game to be patriotic, well let's see the 47% of people sponging off my labor kick in as well.

    j-mac
    This may be the closest we have ever come to agreement J. It seems we both generally think both revenues and spending will have to be addressed over the long haul.

    Our main area of difference is who's tax rates should be increased. Since the tax rates have gone down for the rich over the last 30 years for the rich, and increased for the middle class, and we now have for the first time since the Great Depression 80% of the wealth at the top, and since this doesn't allow enough to trickle down to the lower consumer classes to enable them to be consumers, which is necessary for a strong economy, it seems obvious to the majority of the country that some of the progressiveness needs to be restored to our tax system.

    The 47% you speak of are the unemployed, underemployed, seniors, and the poor. Jobs that pay a living wage are required to provide taxable incomes. When we have more people working, we have more people paying taxes.

    Why do we still give tax breaks to companies for outsourcing American jobs? Don't you think that is a tax break that should be eliminated? The Democrats put up a bill to eliminate it this year and the Republicans voted it down.
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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Every since Warren Buffet said "raise my taxes" because his secretary's effective tax rate is higher than his, I've felt that unless other millionaires and billionaires came out and echoed his "tax me" stance, his words would simply fall on deaf ears and that Conservatives/Republicans would simply see him as "one of Obama's millionaire friends". This article from CNNMoney changes that.

    "We want to pay more taxes," said California millionaire Doug Edwards, a former marketing director for Google. "If you're fortunate, and you make more than a million dollars a year, you ought to pay more taxes."

    The millionaires want Congress to allow the tax cuts passed during the George W. Bush administration to expire. Some want higher taxes generally.

    They planned to push lawmakers to reject any deal that the so-called super committee delivers that doesn't raise taxes on millionaires.

    ...


    "If the super committee bill doesn't raise our taxes, we will ask our fellow citizens to consider killing the bill," said Eric Schoenberg of Franklin Lakes, N.J., an adjunct professor of marketing at Columbia Business School.

    They planned to take their message to members of the super committee, Tea Party Republicans including Rep. Louie Gohmert of Texas and Rep. Tom Price of Georgia, and even anti-tax champion Grover Norquist.
    Their vocal stance is interesting in the wake of several congressional Republicans questioning the validity of their anti-tax pledge spearheaded by anti-tax lobbyist Grover Norquist. Many Republicans feel they shouldn't be held to a anti-tax pledge they signed years ago and only intended to adhere to it for one election term, not indefinitely. Put in the context of the present impass with the Super Debt Committee and it's very likely one of two possible scenarios could come out of this:

    1) Republicans cave and "find" more tax revenue, atleast $500 billion worth to pay for the American Jobs Act; or,

    2) Republicans stick to their guns and not allow any additional revenue beyond the $300 billion they've currently put on the table and insist on lowering the tax base primarily for millionaires, thus ensuring that the debt committee remains intrenched along partisan lines and the triggers go into affect.

    If the latter happens especially in light of millionaires calling on Congress to end the Bush tax cuts and raise their taxes, you can bet Republicans will lose seats next election cycle.

    If the former happens, Republicans can save face and live to fight another day.
    Last edited by Objective Voice; 11-16-11 at 06:52 PM.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Objective Voice View Post
    Every since Warren Buffet said "raise my taxes" because his secretary's effective tax rate is higher than his, I've felt that unless other millionaires and billionaires came out and echoed his "tax me" stance, his words would simply fall on deaf ears and that Conservatives/Republicans would simply see him as "one of Obama's millionaire friends". This article from CNNMoney changes that.



    Their vocal stance is interesting in the wake of several congressional Republicans questioning the validity of their anti-tax pledge spearheaded by anti-tax lobbyist Grover Norquist. Many Republicans feel they shouldn't be held to a anti-tax pledge they signed years ago and only intended to adhere to it for one election term, not indefinitely. Put in the context of the present impass with the Super Debt Committee and it's very likely one of two possible scenarios could come out of this:

    1) Republicans cave and "find" more tax revenue, atleast $500 billion worth to pay for the American Jobs Act; or,

    2) Republicans stick to their guns and not allow any additional revenue beyond the $300 billion they've currently put on the table and insist on lowering the tax base primarily for millionaires, thus ensuring that the debt committee remains intrenched along partisan lines and the triggers go into affect.

    If the latter happens especially in light of millionaires calling on Congress to end the Bush tax cuts and raise their taxes, you can bet Republicans will lose seats next election cycle.

    If the former happens, Republicans can save face and live to fight another day.
    So you think that this was a stunt by shills for the democratic party who want to frame an election and not serious people?

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Millionaires ask Congress to raise their taxes

    Two-dozen storm Capitol Hill


    "WASHINGTON (CNNMoney) -

    A group of two dozen millionaires stormed Capitol Hill on Wednesday, demanding lawmakers raise their taxes.

    "We want to pay more taxes," said California millionaire Doug Edwards, a former marketing director for Google. "If you're fortunate, and you make more than a million dollars a year, you ought to pay more taxes."

    The millionaires want Congress to allow the tax cuts passed during the George W. Bush administration to expire. Some want higher taxes generally.

    They planned to push lawmakers to reject any deal that the so-called super committee delivers that doesn't raise taxes on millionaires. The 12-lawmaker panel has until next Wednesday to agree on $1.2 trillion in savings over the next 10 years or risk automatic spending cuts.

    "If the super committee bill doesn't raise our taxes, we will ask our fellow citizens to consider killing the bill," said Eric Schoenberg of Franklin Lakes, N.J., an adjunct professor of marketing at Columbia Business School."What we're all here today representing is to request the Bush tax cuts be allowed to expire -- that's simply the bare minimum," said Ebrahimi, who has also participated in protests in the Occupy Boston movement.

    California venture capitalist Garrett Gruener, founder of Ask.com, told left-leaning House members on the Progressive Caucus said he doesn't buy the argument that hiking the tax rates for the wealthy and forcing them to pay more in taxes would stymie business growth.

    "Not once have any of my personal investment decisions been a function of marginal tax rates," Gruener said. "We just don't think about it."

    Millionaires ask Congress to raise their taxes | Money - Home
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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by washunut View Post
    So you think that this was a stunt by shills for the democratic party who want to frame an election and not serious people?
    I think there are plenty of wealthy individuals who realize they've had it good the past few years/decades and are very willing to have their taxes raised for the sake of the country. It's not the first time some of the wealth-class has said, "tax me, I'm good for it".

    Millionaires Support Warren Buffett’s Tax on the Rich - The Wealth Report - WSJ

    'Occupy' protesters find allies among the wealthy - TODAY News - TODAY.com

    Wealth for the Common Good AFP: ‘Tax us’ to ease deficit, say some wealthy Americans

    Raise My Taxes, Please! - Forbes.com

    Of course, the common refrain we hear from anti-tax Republicans concerning the rich and their "tax me" decree is "write the Treasury a check". But here's the rub...

    If Republicans claim they are listening to the people who they claim they've been listening to since the health care reform debates and well beyond the 2010 midterm election and the wealthy-class does make up a segment of their constituency, then they'd be smart to stop paying hommage to Master Norquist and drop their anti-tax pledge.

    Let's face it, assuming Obama is re-elected, the Bush tax cuts will not be extended. And seeing that some Republicans are bringing the anti-tax pledge into question, and more and more we're starting to hear the rich say "tax me because if you don't I'll take this straight to certain members of Congress", congressional Republicans would be foolish to continue ignoring them.
    Last edited by Objective Voice; 11-16-11 at 11:18 PM.

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