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Thread: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

  1. #341
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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Catawba View Post
    Its not a class struggle as you keep trying to paint it. As James Carville correctly observed, "Its the economy, stupid" People through their own experience found that giving the tax cuts to the wealthy did not create jobs, in this country anyway.
    what is the purpose of taxing only the top 2% more

    they already are the only group that pays more of the tax burden than their share of the income

    its class warfare nothing more

    and taxing the rich more will do what exactly for the economy given Obama wants to keep spending and spending

    and its really hard to believe your motivation is something other than bashing the rich.

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by TurtleDude View Post
    what is the purpose of taxing only the top 2% more
    To recoup the 11.6 million dollars an hour we are wasting in tax cuts for the wealthy that do not produce jobs so that we can help balance the budget so that cutting benefits for the middle class and seniors is not necessary.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  3. #343
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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Catawba View Post
    To recoup the 11.6 million dollars an hour we are wasting in tax cuts for the wealthy that do not produce jobs so that we can help balance the budget so that cutting benefits for the middle class and seniors is not necessary.
    Bull****. Social spending makes up 2/3 of the federal budget. The wealthy dont have enough money to balance the budget with our current spending and you are kidding yourself if you think we do.

    Its political. Its not financial. The projected income from the proposed tax rate is only 80 billion. That doesn't begin to make a dent in a 1 trillion dollar annual deficit.
    Best way to know its political and not for real? Ole Harry in the Senate wont allow it to come for a vote. If it were a real plan he would be willing to back it with a vote, now wouldn't he?

  4. #344
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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by OpportunityCost View Post
    Bull****. Social spending makes up 2/3 of the federal budget.
    You mean the portion paid for through FICA? SS+Medicare?
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

  5. #345
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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by OpportunityCost View Post
    Bull****. Social spending makes up 2/3 of the federal budget. The wealthy dont have enough money to balance the budget with our current spending and you are kidding yourself if you think we do.
    I have never suggested that it was. We will also need to cut our wasteful military spending in half, increase the SS cap to $180,000 from its current $105,000, and upgrade our health care system to UHC as every other industrialized nation has done. If we are not prepared to do those things, we are not prepared to deal with our deficit.

    Its political. Its not financial. The projected income from the proposed tax rate is only 80 billion. That doesn't begin to make a dent in a 1 trillion dollar annual deficit.
    Best way to know its political and not for real? Ole Harry in the Senate wont allow it to come for a vote. If it were a real plan he would be willing to back it with a vote, now wouldn't he?
    Its financial, by not letting the tax cuts for the wealthy expire, we waste 11.6 million dollars an hour in lost revenues. That's a hell of a lot more waste than the GOP firing of big bird!
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  6. #346
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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Catawba View Post
    I have never suggested that it was. We will also need to cut our wasteful military spending in half, increase the SS cap to $180,000 from its current $105,000, and upgrade our health care system to UHC as every other industrialized nation has done. If we are not prepared to do those things, we are not prepared to deal with our deficit.



    Its financial, by not letting the tax cuts for the wealthy expire, we waste 11.6 million dollars an hour in lost revenues. That's a hell of a lot more waste than the GOP firing of big bird!

    We are expecting to get a cut in military spending already. Why is it military spending is the only thing that is ever on the table for liberals?

    80 billion dollars that will disappear after the first year as they go into tax avoidance to erase the amount they pay. Close the loopholes. Reduce the ability to engage in tax avoidance. Its a better solution than making a tax that can be mitigated almost as soon as its signed.

    Things like capping home mortgage deduction amounts, cap medical deductions, cap charitables all of which can be done gradually to see the effects.

    I would agree with means testing SS and increasing the age requirements.

    So if it really is a good solution why didnt Harry put it up for a vote?

  7. #347
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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Gimmesometruth View Post
    You mean the portion paid for through FICA? SS+Medicare?
    Which must be why SS Is insolvent. Because those things are paying for it. Dont make silly statements and expect to be taken seriously.

  8. #348
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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by OpportunityCost View Post
    Which must be why SS Is insolvent.
    bzzzz.wrong
    Because those things are paying for it.
    WTF does that mean? "those things"?
    Dont make silly statements and expect to be taken seriously.
    LOL...the irony!
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

  9. #349
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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Gimmesometruth View Post
    bzzzz.wrong
    WTF does that mean? "those things"?LOL...the irony!
    So youre saying we have the funds to meet the liabilities inherent in SS right now? According to every economist Ive read, including Krugman, we do not.

    Those things would be the taxes you described---you being obtuse deliberately?

  10. #350
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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by OpportunityCost View Post
    We are expecting to get a cut in military spending already. Why is it military spending is the only thing that is ever on the table for liberals?
    It isn't the only thing, but it is the biggest source of waste in our federal spending.


    80 billion dollars that will disappear after the first year as they go into tax avoidance to erase the amount they pay. Close the loopholes. Reduce the ability to engage in tax avoidance. Its a better solution than making a tax that can be mitigated almost as soon as its signed.

    Things like capping home mortgage deduction amounts, cap medical deductions, cap charitables all of which can be done gradually to see the effects.

    I would agree with means testing SS and increasing the age requirements.

    So if it really is a good solution why didnt Harry put it up for a vote?

    "The cost of tax cuts for upper income earners is the same as the Social Security shortfall for the next 75 years, the Center for Budget and Priorities estimates."
    Tax Cuts For Wealthy Americans Cost Treasury $11.6 Million Every Hour: Report
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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