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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 minnie616 View Post
    They are still the Bush tax cuts just as Beatle's songs will always be Beatle's songs even if other artists sing them.
    There are a lot of people who proudly do cover songs and get credit for them. Bush got the credit for his tax cuts and Obama should get credit for extending them.

    And why not? He was very pleased and proud when he did it. Let the man continue to share in the glory.

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

    Quote Originally Posted by Grant View Post
    There are a lot of people who proudly do cover songs and get credit for them. Bush got the credit for his tax cuts and Obama should get credit for extending them.

    And why not? He was very pleased and proud when he did it. Let the man continue to share in the glory.
    President Bush should get credit for his tax cuts just as President Reagan
    got credit for his tax cuts.

    President Obama merly extended the Bush tax cuts as part of compromise so taxes would not be raised on the middleclass and President Obama gets credit for extending them as part of that compromise.
    The BUsh tax cuts will always be called the Bush tax cuts
    because President Bush first introduced them and got them passed.
    When it comes to matters of reproduce health, Politicians and the religious dogma of another faith should never interfere with religious liberty of an individual or her faith.

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

    Quote Originally Posted by minnie616 View Post
    President Bush should get credit for his tax cuts just as President Reagan
    got credit for his tax cuts.
    Exactly. If it happened during the Reagan Presidency or the Bush Presidency each should take credit or responsibility. That seems rather obvious.

    President Obama merly extended the Bush tax cuts as part of compromise so taxes would not be raised on the middleclass and President Obama gets credit for extending them as part of that compromise.
    And the moment he extended them, and took credit for them, they became the Obama Tax Cuts. Surely that is self explanatory.

    The BUsh tax cuts will always be called the Bush tax cuts because President Bush first introduced them and got them passed.
    And Obama supported, endorsed and took credit for continuing those same cuts. It seems that the Bush Cuts are often used as an excuse to fault Bush rather than to praise him, wouldn't you agree?

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

    According to the following article allowing the disparity [between the rich and the middleclass]" to continue is both bad economic policy and bad social policy."

    In 2010, as the nation continued to recover from the recession, a dizzying 93 percent of the additional income created in the country that year, compared to 2009 — $288 billion — went to the top 1 percent of taxpayers, those with at least $352,000 in income. That delivered an average single-year pay increase of 11.6 percent to each of these households.


    Still more astonishing was the extent to which the super rich got rich faster than the merely rich. In 2010, 37 percent of these additional earnings went to just the top 0.01 percent, a teaspoon-size collection of about 15,000 households with average incomes of $23.8 million. These fortunate few saw their incomes rise by 21.5 percent.



    The bottom 99 percent received a microscopic $80 increase in pay per person in 2010, after adjusting for inflation.
    The top 1 percent, whose average income is $1,019,089, had an 11.6 percent increase in income.


    This new data, derived by the French economists Thomas Piketty and Emmanuel Saez from American tax returns, also suggests that those at the top were more likely to earn than inherit their riches. That’s not completely surprising: the rapid growth of new American industries — from technology to financial services — has increased the need for highly educated and skilled workers. At the same time, old industries like manufacturing are employing fewer blue-collar workers.
    <SNIP>
    The only way to redress the income imbalance is by implementing policies that are oriented toward reversing the forces that caused it. That means letting the Bush tax cuts expire for the wealthy and adding money to some of the programs that House Republicans seek to cut. Allowing this disparity to continue is both bad economic policy and bad social policy. We owe those at the bottom a fairer shot at moving up.
    Read more:

    http://www.nytimes.com/2012/03/26/op...cher.html?_r=0
    When it comes to matters of reproduce health, Politicians and the religious dogma of another faith should never interfere with religious liberty of an individual or her faith.

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

    Quote Originally Posted by minnie616 View Post
    According to the following article allowing the disparity [between the rich and the middleclass]" to continue is both bad economic policy and bad social policy."


    Read more:

    http://www.nytimes.com/2012/03/26/op...cher.html?_r=0
    I agree that BHO is responsible for bad economic policies as well as bad social policies. There appears to be no debate here.

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

    Quote Originally Posted by Grant View Post
    I agree that BHO is responsible for bad economic policies as well as bad social policies. There appears to be no debate here.
    Not what was said.

    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 minnie616 View Post
    According to the following article allowing the disparity [between the rich and the middleclass]" to continue is both bad economic policy and bad social policy."


    Read more:

    The Rich Get Even Richer - NYTimes.com


    Exactly right, as Henry Ford found in the past, many of the super smart rich folks today like Warren Buffett and the other millionaires that petitioned Congress to raise the tax rates of the wealthy understood, its bad for the long term economy to have so little wealth in the consumer class that it hurts consumer demand.
    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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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Boo Radley View Post
    Not what was said.
    Exactly.

    THe article was stating that the reason why there is a disparity [between the rich and the middleclass]" is because of the Bush tax cuts.


    That means letting the Bush tax cuts expire for the wealthy and adding money to some of the programs that House Republicans seek to cut.
    When it comes to matters of reproduce health, Politicians and the religious dogma of another faith should never interfere with religious liberty of an individual or her faith.

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

    Quote Originally Posted by Boo Radley View Post
    Not what was said.
    The quote was incorrect? Where?

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

    Quote Originally Posted by minnie616 View Post
    Exactly.

    THe article was stating that the reason why there is a disparity [between the rich and the middleclass]" is because of the Bush tax cuts.
    The Bush tax cuts which were endorsed, supported and passed by the Obama Administration, right? And BHO took credit for this legislation, correct?

    When does BHO become responsible for legislation passed during his own Presidency?

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