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Thread: Democrats' tax bill moves toward vote in US Senate

  1. #11
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    Re: Democrats' tax bill moves toward vote in US Senate

    Quote Originally Posted by Deuce View Post
    Funny how the Bush administration establishes tax cuts that have an expiration date, but people claim that it's the Obama administration "raising" taxes.

    And as for capital gains, it's just a way for the wealthy to decrease their tax burden. A wealthy person can invest a much higher percentage of income, and have that income only subject to the 15% tax instead of the usual income tax level. The end result is the top-top-mega earners actually have their total tax liability as % of income go down. Our tax system becomes regressive at the top!
    Funny how the conservatives and independents were discussing taxes and policies to repair the economy, and then a liberal posts and, all of a sudden, its 'Bush did it', all over again. Just an observation, take it for what you will.

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    Re: Democrats' tax bill moves toward vote in US Senate

    Quote Originally Posted by donsutherland1 View Post
    FYI, I do not favor the bill. It is not budget neutral. Worse, it would establish a bad precedent that undermines the credibility of even limited mechanisms for containing costs. Such a precedent would not be helpful when it comes time for the more demanding task of fiscal consolidation that should, IMO, begin to be implemented starting in 2011 and then expanded to include mandatory spending reforms, among other provisions.
    Sorry don, I wasn't insinuating you supported the bill. I just found your post somewhat "heady", forcing me to re-read (and re-read) so as to understand what you were saying. I left you with the wrong impression.

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    Re: Democrats' tax bill moves toward vote in US Senate

    Quote Originally Posted by Deuce View Post
    Funny how the Bush administration establishes tax cuts that have an expiration date, but people claim that it's the Obama administration "raising" taxes.

    And as for capital gains, it's just a way for the wealthy to decrease their tax burden. A wealthy person can invest a much higher percentage of income, and have that income only subject to the 15% tax instead of the usual income tax level. The end result is the top-top-mega earners actually have their total tax liability as % of income go down. Our tax system becomes regressive at the top!
    Why is it so difficult for some to comprehend what your very words here display?!!? ..."invest a much higher percentage"...

    "Investments" conducted within the private sector really is helpful to an economy. Not to mention employment. It isn't only about the wealthy staying wealthy.

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