Page 4 of 36 FirstFirst ... 2345614 ... LastLast
Results 31 to 40 of 358

Thread: Senate fails to advance Buffett rule

  1. #31
    Basketball Nerd
    StillBallin75's Avatar
    Join Date
    Jan 2011
    Location
    Vilseck, Germany
    Last Seen
    Yesterday @ 07:52 AM
    Gender
    Lean
    Progressive
    Posts
    21,896

    Re: Senate fails to advance Buffett rule

    Quote Originally Posted by sawyerloggingon View Post
    The fact is Reagan ONLY agreed to increase taxes when congress promised to cut spending 3 dollars for every dollar Reagan raised taxes. If the Dem's would have kept their promise we would be a different country today and when you libs run around saying Reagan raised taxes without putting it in context you are at best distorting the truth at worst telling a bald face lie.
    The point remains that Reagan recognized the fact that tax increases, coupled with spending cuts, were necessary to keep government solvent. In essence, my point was that even Reagan recognized that tax increases were needed, and tax cuts alone wouldn't generate enough revenue, if at all.

    This whole conversation began as a challenge to the supply-side argument, which is essentially that tax cuts alone can generate more revenue, which is untrue. So if you could address that part, please. Otherwise you're just trying to counter an argument that I'm not making.
    Last edited by StillBallin75; 04-17-12 at 12:32 AM.
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

    All the same, it's nonsense. To paraphrase Vince Lombardi, show me a political loser, and I'll show you a loser.
    - Colonel Paul Yingling

  2. #32
    Sage
    AdamT's Avatar
    Join Date
    Jul 2011
    Last Seen
    02-13-13 @ 04:09 PM
    Gender
    Lean
    Undisclosed
    Posts
    17,773

    Re: Senate fails to advance Buffett rule

    Quote Originally Posted by Blue_State View Post
    The loopholes are really the interesting part. The government had a tool to focus investment where they wanted it.

    For the federal tax rates, are you saying the rates are low, or the income from the tax rates is low?
    I'm saying that the overall tax revenue as a percentage of GDP has not been this low in over 60 years.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

  3. #33
    Sage
    AdamT's Avatar
    Join Date
    Jul 2011
    Last Seen
    02-13-13 @ 04:09 PM
    Gender
    Lean
    Undisclosed
    Posts
    17,773

    Re: Senate fails to advance Buffett rule

    Quote Originally Posted by TurtleDude View Post
    Your effective tax rate is 21%. that puts you most likely in the top 2%. Those of us making 1 to 5 million a year generally have an effective rate of 24%

    but you don't pay a higher rate on like income than Romney does and that is what really matters

    and of course those who are the best able to compete are going to make more and more money. I don't spend all I make-indeed less than (not counting taxes) 20% of my gross income and the rest I invest.

    You seem to think the problem is not taxing those of us who already pay far too much enough

    I see the problem is that people like you are content with the spending levels but not willing to pay for them
    You already said that your tax rate was "around 22%", so once again you seem to have a truth telling problem. In any case, as should be clear, you can't judge someone's income by looking at their tax rate. That's the problem.

    What I think is that everyone is paying too little -- not just the rich -- but in the near term it would be a problem for the economy if we raised low and middle income rates. In a few years all rates will have to be raised.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

  4. #34
    Sage

    Join Date
    Dec 2011
    Location
    Florida
    Last Seen
    Today @ 02:19 AM
    Gender
    Lean
    Liberal
    Posts
    23,342

    Re: Senate fails to advance Buffett rule

    Quote Originally Posted by Porchev View Post
    This seems to be a good time to share my favorite JFK quote:

    "It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now... Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus."
    -- John F. Kennedy, Nov. 20, 1962, president's news conference
    Ah Camelot, what a wonderful fairytale land it was. Well we tried that...waging 2 wars and cutting taxes and we got trillion dollar deficits. Now Romney wants 4 trillion more in tax cuts for the millionaires, leaving the rest of us swinging in the breeze. What kind of fairytale is that?

  5. #35
    Guru

    Join Date
    Aug 2011
    Location
    In a Blue State
    Last Seen
    12-07-17 @ 03:24 PM
    Gender
    Lean
    Libertarian
    Posts
    4,732

    Re: Senate fails to advance Buffett rule

    Quote Originally Posted by AdamT View Post
    I'm saying that the overall tax revenue as a percentage of GDP has not been this low in over 60 years.
    Has the percentage of people paying into the tax revenue increased or decreased in those 60 years?
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

  6. #36
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Yesterday @ 11:46 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,219

    Re: Senate fails to advance Buffett rule

    Quote Originally Posted by TheDemSocialist View Post
    Read more @: Senate fails to advance Buffett rule

    Dear god why!? Its common ****ing sense. When we are at a time when we have deficits that need to be closed and we need to make investments to strengthen our economy why cant a simple thing like this pass!?
    [/FONT][/COLOR][/LEFT]
    Common sense dictates that raising taxes won't close the deficit. Deficit spening has nothing to do with income revenue.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  7. #37
    Sage

    Join Date
    Dec 2011
    Location
    Florida
    Last Seen
    Today @ 02:19 AM
    Gender
    Lean
    Liberal
    Posts
    23,342

    Re: Senate fails to advance Buffett rule

    Quote Originally Posted by TurtleDude View Post
    Your effective tax rate is 21%. that puts you most likely in the top 2%. Those of us making 1 to 5 million a year generally have an effective rate of 24%

    but you don't pay a higher rate on like income than Romney does and that is what really matters

    and of course those who are the best able to compete are going to make more and more money. I don't spend all I make-indeed less than (not counting taxes) 20% of my gross income and the rest I invest.

    You seem to think the problem is not taxing those of us who already pay far too much enough

    I see the problem is that people like you are content with the spending levels but not willing to pay for them
    You sock away 80% of your income and say you are taxed too much? What are you going to do with that nest egg? We are a consumer economy and you need to get with it. Buy something.

  8. #38
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Yesterday @ 11:46 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,219

    Re: Senate fails to advance Buffett rule

    Quote Originally Posted by Chiefgator View Post
    30% effective tax is insane. Yu just did your taxes (I would assume).... what was YOUR tax rate?

    Not you MAX TAX BRACKET, your effective rate...........
    The money grubbing bastards keep 35% of my pay check every week. ****ing taxes are damn well high e-****ing-nough.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  9. #39
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Yesterday @ 11:46 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,219

    Re: Senate fails to advance Buffett rule

    Quote Originally Posted by StillBallin75 View Post
    I can't envision a scenario where ANYONE, including those in the top 1%, is currently paying an effective federal income tax rate of 30%.
    You've never filed a 1040. Have you?

    And, before you say, "uhhh...yeah-huh!", I know that you've never filed a 1040 if you actually believe what you posted.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  10. #40
    Sage

    Join Date
    Dec 2011
    Location
    Florida
    Last Seen
    Today @ 02:19 AM
    Gender
    Lean
    Liberal
    Posts
    23,342

    Re: Senate fails to advance Buffett rule

    Quote Originally Posted by apdst View Post
    Common sense dictates that raising taxes won't close the deficit. Deficit spening has nothing to do with income revenue.
    Growing the economy is the ONLY way out of deficits. Drastic cuts in spending will only collapse the economy , cutting GDP and dropping revenues which will increase our deficits.
    Look at what austerity has done for Greece.

    "On the current path - which is not sustainable in my view - we may very well see Greek GDP go down 25-30 percent, which would be historically unprecedented. It's a disastrous crisis for them, Dadush, a former senior World Bank official, said.



    Read more: Is Greece About To See The Biggest Drop In Output In Modern Economic History? - Business Insider

Page 4 of 36 FirstFirst ... 2345614 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •