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

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

    Quote Originally Posted by haymarket View Post
    None of that answers the question that you led with: how does raising tax rates to Clinton levels on the rich damage the republican party?
    The goal is to get some republicans to bolt on the issue of raising taxes at all.
    It fractures the ability of republican leaders to keep their caucus together on issues and votes.

    Its a party plank, the goal of this is not to get revenue, this proposal will net around 80billion/year. The odds that this will be mitigated by tax avoidance remain high. Even the President admitted this is not about revenue its about "fairness". If its about fairness, eliminating tax avoidance is a much more surefire way of accomplishing it.

    There are a ton of ways to raise revenue that republicans are not just willing to go to but WANT to go to. By insisting on this one they are showing its about politics and not financial responsibility.

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

    Quote Originally Posted by haymarket View Post
    Where did I mention a special wealth tax?

    On cuts - mostly from the military budget. And of course cutting down on the debt will save in paying interest revenues as well from year to year in the future so there is a cut there as well.
    If you cut the military budget by 10% you have only cut the budget entire by 2% at best. Social spending makes up 66% of the budget. Eventually we will have to address that spending, it can only be kicked down the road for so long.

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

    Quote Originally Posted by TurtleDude View Post
    YOu still don't get it. unless the middle class stops demanding more spending the deficit will always grow
    I have called for cutting spending as well. But, any spending requires a method of paying for it. Anyone seeking only one of these options is the person who doesn't get it.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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

    Quote Originally Posted by Boo Radley View Post
    I have called for cutting spending as well. But, any spending requires a method of paying for it. Anyone seeking only one of these options is the person who doesn't get it.

    Great. so we are in agreement. Stop borrowing from China, and those entitlements that can not be paid for without borrowing to do it gets cut.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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

    Quote Originally Posted by j-mac View Post
    Great. so we are in agreement. Stop borrowing from China, and those entitlements that can not be paid for without borrowing to do it gets cut.
    It is the printing of too much money which may lead to even greater problems.

    China alarmed by US money printing - Telegraph

    Another way of looking at rising prices.

    http://www.rapidtrends.com/gold-is-n...is-going-down/

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

    Quote Originally Posted by Grant View Post
    It is the printing of too much money which may lead to even greater problems.

    China alarmed by US money printing - Telegraph

    Another way of looking at rising prices.

    http://www.rapidtrends.com/gold-is-n...is-going-down/

    Hey, we can look at the bright side....When it takes a trunk load of money to buy a loaf of bread, I can pay off my house in about a week....
    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: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by keymanjim View Post
    And when they send their money overseas to avoid that wholly unfair tax, what do your do?
    We still tax them. See USA taxes are based on CITIZENSHIP, not the location of them or the money.

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

    Quote Originally Posted by j-mac View Post
    Hey, we can look at the bright side....When it takes a trunk load of money to buy a loaf of bread, I can pay off my house in about a week....
    That's probably the long term plan because there is no other way $16,000,000,000,000 (and counting) can ever be repaid. Meanwhile the president and his people are turning Black against White, Women against Men, and everyone against "the rich".

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

    Quote Originally Posted by Grant View Post
    That's probably the long term plan because there is no other way $16,000,000,000,000 (and counting) can ever be repaid. Meanwhile the president and his people are turning Black against White, Women against Men, and everyone against "the rich".

    Oh yeah, by that time we'll be a diminished cesspool, but I think that is the plan of our anti colonialist n chief as well.
    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: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by j-mac View Post
    Oh yeah, by that time we'll be a diminished cesspool, but I think that is the plan of our anti colonialist n chief as well.
    It's difficult to believe but the evidence keeps growing, doesn't it? How else to explain it?

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