Page 2 of 29 FirstFirst 123412 ... LastLast
Results 11 to 20 of 285

Thread: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

  1. #11
    Banned
    Join Date
    Nov 2009
    Location
    melbourne florida
    Last Seen
    09-24-15 @ 12:15 AM
    Gender
    Lean
    Very Conservative
    Posts
    13,156

    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Kandahar View Post
    Ah yes, the "salient point" was how horrible of a human being Barack Obama is, rather than an actual discussion of the policies in question. I don't know why I would've expected anything different from you. Carry on.
    Look at Obama's spending not at taking money from the middle class and the retired.

  2. #12
    Banned Goobieman's Avatar
    Join Date
    Feb 2006
    Last Seen
    03-22-15 @ 02:36 PM
    Gender
    Lean
    Very Conservative
    Posts
    17,343

    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Kandahar View Post
    Ah yes, the "salient point" was how horrible of a human being Barack Obama is, rather than an actual discussion of the policies in question.
    I am not at all surprised at this response -- your faux concerns, designed only to misdirect the conversation away from The Obama's reversals of claims and statements and promised are well documented.

    He's reneging on yet another campaign promise, and you give Him a pass.

  3. #13
    Sage

    Join Date
    Sep 2007
    Last Seen
    09-24-17 @ 04:38 AM
    Lean
    Undisclosed
    Posts
    29,261

    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Goobieman View Post
    Again... so much for THAT campaign promise.

    Is this the Hope and Change you voted for?
    Don't you think you kinda jumping the gun here? He is just looking at ideas that is all.

  4. #14
    Banned Goobieman's Avatar
    Join Date
    Feb 2006
    Last Seen
    03-22-15 @ 02:36 PM
    Gender
    Lean
    Very Conservative
    Posts
    17,343

    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by winston53660 View Post
    Don't you think you kinda jumping the gun here? He is just looking at ideas that is all.
    Yes... and raising taxes on people He promised to NOT raise taxes on is specifically -on- the table.

    But hey -- I remember what happened when GHWB went back on his "no new taxes' pledge. I wont weep at all when a similar fate befalls The Messiah.

  5. #15
    Enemy Combatant
    Kandahar's Avatar
    Join Date
    Jul 2005
    Location
    Washington, DC
    Last Seen
    10-15-13 @ 08:47 PM
    Gender
    Lean
    Liberal
    Posts
    20,688

    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Dav View Post
    Not so sure on that last one.


    That isn't entirely representative of the actual effect of tax hikes/cuts. For example, the income tax line in your graph looks flat because it's on a 0 to 100 scale. But zoom in on the relevant range a bit, and you'll find a different picture.



    This is important because a 1% change is a significant amount of money...on the order of $150 billion (in today's dollars). The biggest sustained drops were the Reagan tax cuts and the Bush tax cuts, and the biggest sustained increases were the Clinton tax hikes. Obviously there isn't a perfect match in this graph between tax hikes and tax cuts, but there's definitely a pattern there.

    Also, your graph only looks at the top marginal income tax rate...but it doesn't take into account other variables like other marginal income tax rates, how wide the tax brackets actually are, and what deductions/exclusions are allowed.
    Last edited by Kandahar; 02-11-10 at 04:45 PM.
    Are you coming to bed?
    I can't. This is important.
    What?
    Someone is WRONG on the internet! -XKCD

  6. #16
    Sage
    Dav's Avatar
    Join Date
    Mar 2009
    Location
    Virginia
    Last Seen
    04-16-16 @ 02:36 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    5,539

    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Kandahar View Post
    That isn't entirely representative of the actual effect of tax hikes/cuts. For example, the income tax line in your graph looks flat because it's on a 0 to 100 scale. But zoom in on the relevant range a bit, and you'll find a different picture.



    This is important because a 1% change is a significant amount of money...on the order of $150 billion (in today's dollars). The biggest sustained drops were the Reagan tax cuts and the Bush tax cuts, and the biggest sustained increases were the Clinton tax hikes. Obviously there isn't a perfect match in this graph between tax hikes and tax cuts, but there's definitely a pattern there.
    Seems to me like the biggest drops were during recessions, the biggest increases during booms. Also, according to that graph, revenue actually increased after 2003.

    Still, what you're saying is that even with the biggest tax increases, we could only raise about $200 billion in revenue, max. Seeing as how the deficit is currently 8 times that much, I don't think increasing taxes should be seen as a priority.


    Also, your graph only looks at the top marginal income tax rate...but it doesn't take into account other variables like other marginal income tax rates, how wide the tax brackets actually are, and what deductions/exclusions are allowed.
    That's true, but the only thing that people are considering raising right now is the top income bracket rate. Unfortunate, since the vast majority of the decreased revenue from the Bush tax cuts were the result of the cuts for lower-income families, and since 40% of the population not having a stake in the deficit as the result of not paying taxes is probably harmful to the problem.

  7. #17
    Banned
    Join Date
    Sep 2005
    Location
    Los Angeles
    Last Seen
    09-22-10 @ 04:36 AM
    Gender
    Lean
    Independent
    Posts
    11,430

    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Kandahar View Post
    And this is exactly why we have a perpetual deficit. Because people freak out ZOMG TAX INCREASE over any suggestion that we cut the deficit. And other people shriek ZOMG ENTITLEMENT CUTS over the same.

    If we're ever going to balance the budget, we're going to need to rein in entitlement spending and increase taxes.
    Well, since the deficit is a spending problem, not a revenue problem, clearly the solution is reductions in spending, not increases in taxes.

    The government, however, is like a pimp. When the pimp needs more money, he's beats his ho's harder and "encourages" them to work harder. The pimp never considers buying fewer gold chains.

  8. #18
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    by putting tax hikes on the table he contributes to the atmosphere of UNCERTAINTY that is anathema to new hires

    hello

  9. #19
    Banned
    Join Date
    Dec 2009
    Last Seen
    06-23-10 @ 11:33 AM
    Lean
    Independent
    Posts
    2,320

    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Goobieman View Post
    I note you completely ignored the salient point.
    Note that I am not surprised.
    What was the salient point? Oh right, that you want to cap on the president because he said he will look at every idea to decrease the deficit, even if the idea is raising taxes, he wants to see it. Which makes your point look... trivial and hyper partisan. God forbid we should pay for things like your war...

  10. #20
    Professor

    Join Date
    Oct 2009
    Location
    North Dakota
    Last Seen
    09-02-17 @ 08:22 PM
    Gender
    Lean
    Conservative
    Posts
    2,357

    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Dav View Post
    That's true, but the only thing that people are considering raising right now is the top income bracket rate.
    Well, the article said he was not going to prejudge and was going to leave everything on the table. This is what some people in this thread were actually mad about, he was considering taxing more than just the top 1%.

    Unfortunate, since the vast majority of the decreased revenue from the Bush tax cuts were the result of the cuts for lower-income families, and since 40% of the population not having a stake in the deficit as the result of not paying taxes is probably harmful to the problem.
    The largest amount of money from the bush tax cuts went to the top bracket. It is simple math. Compare 1% of $480,000 to 1% of $32,000. That is the difference between the top 1% bracket and the lower 50%.

    I don't see where this notion that the lowest bracket does not pay any taxes comes from. Everyone pays payroll taxes up to the 1st $105,000 of there paycheck (at least for SS, its all of your income for medicare). This makes up the largest portion of income for the federal government.

Page 2 of 29 FirstFirst 123412 ... 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
  •