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Thread: Obama budget defeated 99-0 in Senate

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    Re: Obama budget defeated 99-0 in Senate

    Quote Originally Posted by teamosil View Post
    I have read it. It is totally absurd. It cuts $800 billion from medicare over the next 10 years and $1.8 trillion over every 10 years after that. Every dollar removed from medicare means another dollar insurance companies pay which means another dollar retirees need to pay for health insurance. So, say you're currently 10 years away from retirement and you're married. You want to plan on at least 40 years or retirement given how life spans keep increasing and that you don't want to be stuck without enough. So, 2 people, that means 8 decades of retirement between you. There are around 50 million retirees. So, that is $36,000 more you need to spend for insurance per person per decade. So that totals up to another $288,000 on top of what you already thought you needed that you will need to save for retirement. Assuming a reasonable rate of return on your savings, that comes out to something like another $20,000 per year that you need to save up for each of the next 10 years for retirement. $1,666 more per month you need to put away if the Ryan budget were to pass.

    And that's just medicare. Many of the other cuts he proposes hit the middle class quite hard (although not that hard) as well. Changes to student loans that would mean the average person socking away more than a thousand more each year for their college or the college of their kids. Things like the elimination of the FAA and FDA and whatnot that are just plain absurd. Cutting virtually every program designed to help people out who are in poverty... It's a crushing blow to the middle class.

    And for what? It doesn't pay down any more deficit than Obama's budget does. It just uses all that money it is taking from the middle class to fund massive tax breaks for the rich. Dropping the top income tax bracket from 35% to 25%, lowering capital gains, creating huge exclusions for investors and those who inherit multi million dollar estates....

    It IS evil. There isn't any other word for it.



    Passing a fresh budget doesn't equate to "solving a problem"... Passing a fresh budget or using reconciliation to create the new budget are just two different methods of doing the same thing. They are both equally capable of solving whatever problems.

    my god how much would we lose over dropping the rich to 25%?15 billiona year,omfg that will skyrocket the budget.

    look at bush tax cuts,no one to this day has an exact number but its estimated that after 11 years it has cost around 1.3 bil,thats an estimate,and that doesnt keep in mind massive gdp drops,so in truth its probably around 600bil over a decade.not bad though if we raise taxes on the rich we might raise 50 bil a year,that is ofcouse if gdp soesnt plumment from the idea
    “[The metric system is the tool of the Devil! My car gets forty rods to the hogshead, and that’s the way I likes it!” – Abe “Grampa” Simpson”

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    Re: Obama budget defeated 99-0 in Senate

    Quote Originally Posted by beerftw View Post
    my god how much would we lose over dropping the rich to 25%?15 billiona year,omfg that will skyrocket the budget.

    look at bush tax cuts,no one to this day has an exact number but its estimated that after 11 years it has cost around 1.3 bil,thats an estimate,and that doesnt keep in mind massive gdp drops,so in truth its probably around 600bil over a decade.not bad though if we raise taxes on the rich we might raise 50 bil a year,that is ofcouse if gdp soesnt plumment from the idea
    $15 billion for lowering the top tax bracket by 10%? No, that would cost many times that much. Enough to eat up all the savings from the slash and burn campaign he proposed against the middle class. Why did you think it was the same on the deficit as Obama's budget?

    The CBO estimates that over the next 10 years the Bush tax cuts would cost us $5.4 TRILLION if we extend them all. Over the last 10 they cost us around $2.5 TRILLION. So, over those 20 years, that would equal half of our entire national debt today.

    http://ctj.org/pdf/bushtaxcuts2013to2022.pdf
    Total tax rates- People living in poverty: 16.2%. The median American: 27%. Working people who make over $140k/year: 31%. The top 1%: 30%. Super rich investors: around 15%. Help the democrats retake the house.

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    Re: Obama budget defeated 99-0 in Senate

    Why didn't the Democrats bring up the President's plan for a vote? Why was it the Republicans? They (the Republicans) wouldn't be able to say their proposal was the President's plan if the democrats raised it.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: Obama budget defeated 99-0 in Senate

    Quote Originally Posted by teamosil View Post
    $15 billion for lowering the top tax bracket by 10%? No, that would cost many times that much. Enough to eat up all the savings from the slash and burn campaign he proposed against the middle class. Why did you think it was the same on the deficit as Obama's budget?

    The CBO estimates that over the next 10 years the Bush tax cuts would cost us $5.4 TRILLION if we extend them all. Over the last 10 they cost us around $2.5 TRILLION. So, over those 20 years, that would equal half of our entire national debt today.

    http://ctj.org/pdf/bushtaxcuts2013to2022.pdf
    can you show numbers showing how much would be lost by cutting the top% by10% even though the same plan ends all loppholes to the rich and corporations?????????

    wait so a rich guy who effective tax is 14 % but effective is 25% being forced to pay 25% is a tax cut?????nice spin.

    but once again can you show that raising and lowering taxes has a massive effect on the budget vs gdp??i had to incule gdp or else everyone would cite clinton then yell what does gdp have to do with it.thats like saying growing crops has to do with how many seed you plant,but if 80% are eaten by parasites its bs statistics.
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    Re: Obama budget defeated 99-0 in Senate

    Quote Originally Posted by beerftw View Post
    can you show numbers showing how much would be lost by cutting the top% by10% even though the same plan ends all loppholes to the rich and corporations?????????

    wait so a rich guy who effective tax is 14 % but effective is 25% being forced to pay 25% is a tax cut?????nice spin.
    Oh, maybe you misunderstand. 25% is the MARGINAL tax rate under the Ryan budget, not the EFFECTIVE tax rate. The way it works is that if say we have a 10% tax rate from $0 and a 20% tax rate from $10,000, if somebody makes $20,000, they pay 10% on the first $10,000 and 20% on the second $10,000, so their effective tax rate would be 15%.

    The reason the rich pay only 15%, however, is unrelated. That is because they tend to make their income from investments rather than by working and we tax capital gains at only 15%. But, Ryan's plan drops that rate even lower as well, so they would then be paying less than 15%.

    The loopholes he eliminates are pretty marginal.

    Again, where did you think the money he was squeezing out of the middle class was going?

    Here, read this- Shocker: Paul Ryan's budget means more big tax cuts for the rich. - CSMonitor.com
    Total tax rates- People living in poverty: 16.2%. The median American: 27%. Working people who make over $140k/year: 31%. The top 1%: 30%. Super rich investors: around 15%. Help the democrats retake the house.

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    Re: Obama budget defeated 99-0 in Senate

    Quote Originally Posted by teamosil View Post
    Oh, maybe you misunderstand. 25% is the MARGINAL tax rate under the Ryan budget, not the EFFECTIVE tax rate. The way it works is that if say we have a 10% tax rate from $0 and a 20% tax rate from $10,000, if somebody makes $20,000, they pay 10% on the first $10,000 and 20% on the second $10,000, so their effective tax rate would be 15%.

    The reason the rich pay only 15%, however, is unrelated. That is because they tend to make their income from investments rather than by working and we tax capital gains at only 15%. But, Ryan's plan drops that rate even lower as well, so they would then be paying less than 15%.

    The loopholes he eliminates are pretty marginal.

    Again, where did you think the money he was squeezing out of the middle class was going?

    Here, read this- Shocker: Paul Ryan's budget means more big tax cuts for the rich. - CSMonitor.com
    i dont think you look at facts,you just listen to left wing sites and automatically believe it as truth without fact checking.

    ryans plan makes 25% effective not marginal,it elliminates tax breakes.it effictively lowers taxes one those that actually pay,but companies like ge and apple,it raises them.

    any attempt to raise taxes while leaving writeoffs off the table helps the rich,by taxing those who dont have millions for lawyers into bankruptcy,and eliminating competition for companies like apple and ge.


    but you dont care do you,your masters said it lowers taxes on the wealthy while attacking the middle class,yet no proof has ever been provided by this.by liberal standards anything not taxing the rich to the max is full on assault on the middle class,even if taxin the rich would drop gdp and cause negative federal income,the democrats would still fight for it,because why make people richer???

    why would the democrats end poverty,ending poverty ends their vote,while the conservatives removing people from poverty extends their vote.think about that one.
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    Re: Obama budget defeated 99-0 in Senate

    Quote Originally Posted by beerftw View Post
    ryans plan makes 25% effective not marginal
    No, that is completely false. That would be insane. It would mean that if you made $1 less than the cut off for the 25% rate you would lose tons of money by making $1 more... That isn't what he is proposing at all. He does eliminate some deductions- mostly those that help the middle class more mind you, but he certainly does not do away with the whole way tax brackets have always worked. It is the marginal rate.

    Just read the article I posted if you don't believe me. That's from the Christian Science Monitor. Universally regarded as one of, if not the, most impartial, objective, and non-partisan source out there.

    All your slogan spamming about trickle down is a couple decades behind the times. Obviously that whole theory was debunked. We tried it. To the max. And nothing trickled down. All that happened was that we caused stock bubbles and the market couldn't sustain those inflated stock values because the actual revenues couldn't keep up. Actual revenues are driven by the middle class, not the rich. We need to grow the rich and the middle class together if we want real growth. There is practically no economist left in the world that is still spouting trickle down theory... The only place it still survives is amongst less informed right wingers on the internet.
    Total tax rates- People living in poverty: 16.2%. The median American: 27%. Working people who make over $140k/year: 31%. The top 1%: 30%. Super rich investors: around 15%. Help the democrats retake the house.

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    Re: Obama budget defeated 99-0 in Senate

    Quote Originally Posted by beerftw View Post
    i dont think you look at facts,you just listen to left wing sites and automatically believe it as truth without fact checking.

    ryans plan makes 25% effective not marginal,it elliminates tax breakes.it effictively lowers taxes one those that actually pay,but companies like ge and apple,it raises them.

    any attempt to raise taxes while leaving writeoffs off the table helps the rich,by taxing those who dont have millions for lawyers into bankruptcy,and eliminating competition for companies like apple and ge.


    but you dont care do you,your masters said it lowers taxes on the wealthy while attacking the middle class,yet no proof has ever been provided by this.by liberal standards anything not taxing the rich to the max is full on assault on the middle class,even if taxin the rich would drop gdp and cause negative federal income,the democrats would still fight for it,because why make people richer???

    why would the democrats end poverty,ending poverty ends their vote,while the conservatives removing people from poverty extends their vote.think about that one.
    The Ryan budget is a sick joke. It lowers marginal tax rates and *suggests* that loopholes would be eliminated ... without specifically naming a SINGLE loophole that would be eliminated. It hands millionaires and billionaires gigantic tax cuts while slashing services for the poor and middle class. Why do you think it's been condemned by Catholic groups?
    "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

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    Re: Obama budget defeated 99-0 in Senate

    Quote Originally Posted by teamosil View Post
    No, that is completely false. That would be insane. It would mean that if you made $1 less than the cut off for the 25% rate you would lose tons of money by making $1 more... That isn't what he is proposing at all. He does eliminate some deductions- mostly those that help the middle class more mind you, but he certainly does not do away with the whole way tax brackets have always worked. It is the marginal rate.

    Just read the article I posted if you don't believe me. That's from the Christian Science Monitor. Universally regarded as one of, if not the, most impartial, objective, and non-partisan source out there.

    All your slogan spamming about trickle down is a couple decades behind the times. Obviously that whole theory was debunked. We tried it. To the max. And nothing trickled down. All that happened was that we caused stock bubbles and the market couldn't sustain those inflated stock values because the actual revenues couldn't keep up. Actual revenues are driven by the middle class, not the rich. We need to grow the rich and the middle class together if we want real growth. There is practically no economist left in the world that is still spouting trickle down theory... The only place it still survives is amongst less informed right wingers on the internet.
    all i can say is strawman,as soon as you said trickle down.

    great id you cant beat them insult themor skew their policies into something they are not and know them down.btw the strawman you used was made of black straw,that makes you racist
    “[The metric system is the tool of the Devil! My car gets forty rods to the hogshead, and that’s the way I likes it!” – Abe “Grampa” Simpson”

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    Re: Obama budget defeated 99-0 in Senate

    Quote Originally Posted by AdamT View Post
    The Ryan budget is a sick joke. It lowers marginal tax rates and *suggests* that loopholes would be eliminated ... without specifically naming a SINGLE loophole that would be eliminated. It hands millionaires and billionaires gigantic tax cuts while slashing services for the poor and middle class. Why do you think it's been condemned by Catholic groups?
    its greater than the budget the democrats have proposed,what was it again oh yeah lets spend ourselves out of prosperity,it failed everytime but this time it will work
    i

    its like daying if you stick your key in a socket ot will give you a million dollars,and after all failed attempts you still scream it will work while everyone else just shakes their head.

    but how about you prove the ryan plan dangerous,and not from thinkprogress or obomacrat.com,i have already ruled those sites out.
    “[The metric system is the tool of the Devil! My car gets forty rods to the hogshead, and that’s the way I likes it!” – Abe “Grampa” Simpson”

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