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Thread: Employers In US Start Bracing For Higher Tax Withholding

  1. #21
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    idea Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by Erod View Post
    If you get in the shower with your clothes on, they'll get wet.

    Same basic common sense.
    Heck, I'll even use a "conservative" link to debunk that.

    The Tax Foundation - Five Myths about the Bush Tax Cuts

    Myth on the Right: The Bush tax cuts caused revenues to go up.
    Republican spokespeople and other tax-cut enthusiasts have asserted that the tax cuts passed in 2001 and 2003 actually increased revenue. They often point to rising revenues from 2004 through 2007 following the tax cuts in May 2003. Unfortunately, as any Economics 101 student will tell you, correlation doesn't prove causation. Yes, revenue did rise, but we have to answer the question: Would it have risen anyway?

    We can never be absolutely sure how the economy would have reacted if the tax cut legislation had failed for some reason in 2001 and 2003, but the consensus among experts is that the economy would have grown in the mid-2000s with or without the Bush tax cuts. That doesn't mean the tax cuts had no feedback effect at all—people reported more taxable income than they would have—but those beneficial effects were not so great that the tax cuts could have "paid for themselves."

    The most damaging result of this myth is that Republican lawmakers feel less pressure to propose spending cuts. Why bother when cutting a tax rate will raise more revenue?
    So, you've got a conservative tax foundation admitting that there is no correlation between tax reductions and tax receipt revenue growth. Hmmmmmm

    Maybe it's not common sense afterall.

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by FederalRepublic View Post
    I'm not against cutting some from those things, provided the money isn't simply wasted elsewhere.
    Good, we are on the same page.

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    The Democrats tried to cut taxes for everyone....except the Party of No, of course said "NO....unless you extend tax cuts to our corporate elite".

    The GOP is responsible for this.
    <font size=5><b>Its been several weeks since the Vegas shooting.  Its it still "Too Early" or can we start having the conversation about finally doing something about these mass shootings???​</b></font>

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by Taboon View Post
    So, you've got a conservative tax foundation admitting that there is no correlation between tax reductions and tax receipt revenue growth. Hmmmmmm

    Maybe it's not common sense afterall.
    Do you hear that? No? It's called silence, and its very peaceful. When you hit the Cons with facts like that the threads suddenly become inactive, lol.

  5. #25
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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by Taboon View Post
    Seems to me, if you actually look at the budget, those things will only get us part of the way there. One or more of the "sacred" expenditures needs to be involved as well to balance the budget (i.e. Defense, Social Security, Medicare).
    Can we look at the current budget for those things?

    No we cannot. Why?

    New year, but no new federal budget - Sep. 12, 2010
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by Johnny DooWop View Post
    Do you hear that? No? It's called silence, and its very peaceful. When you hit the Cons with facts like that the threads suddenly become inactive, lol.
    Maybe it's time for tea? All kidding aside in the limited time I have spent here I have noticed that there are some very smart conservatives here. I'm guessing there may be a rebuttal or two yet that I will have to think about before responding.

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    Student Johnny DooWop's Avatar
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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by Taboon View Post
    Maybe it's time for tea? All kidding aside in the limited time I have spent here I have noticed that there are some very smart conservatives here. I'm guessing there may be a rebuttal or two yet that I will have to think about before responding.
    No, not that smart, if you really pay attention they actually use the same talking points and same statistics over and over again and completely refute any studies that show otherwise. I'll prepare you in advance for this one, they will show statistics that jobs and the economy grew from Bush tax cuts. However, this was only short lived, and the cuts ended up having a negative effect in the long run.

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by disneydude View Post
    The Democrats tried to cut taxes for everyone....except the Party of No, of course said "NO....unless you extend tax cuts to our corporate elite".

    The GOP is responsible for this.
    Sounds good to me - the less that's done the less the civilians of this country suffer. And the Democrats weren't cutting taxes for everyone ... unless your view of everyone doesn't include "everyone". Corporate taxes in this country is 2nd in the world behind Japan, and in my state of NJ, corprate tax is at 41%. Other than following the standard view of punitive punishiment for those evil corporations, why wouldn't Republicans want to cut taxes for Corporations?

    The Tax Foundation - U.S. States Lead the World in High Corporate Taxes
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by Ockham View Post
    Can we look at the current budget for those things?

    No we cannot. Why?

    New year, but no new federal budget - Sep. 12, 2010
    Exactly why I am using the 2010 budget, which also has budget estimates based on current policies through 2019. If anything, those estimates are now optimistic because the economy continues to sputter so expected receipts will probably have to be brought down. The overall premise remains the same so I can't see why you would say we cannot use the most recent budget as something to base my stances on. Seems to be a bit of a punt to me really.

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    House Democrats punt on voting to extend taxes - Jake Sherman and Jonathan Allen - POLITICO.com

    Echo Chamber: Punting Congress - Alexander Trowbridge - POLITICO.com

    http://www.politico.com/news/stories/0910/42836.html:

    Forty-seven House Democrats broke with Democratic leaders Tuesday to call for an extension of current capital gains and dividends tax rates for the wealthy.

    In a letter to House Speaker Nancy Pelosi, the Democrats echoed many of the arguments that Republicans have made in urging extension of all the Bush tax cuts, which are due to expire Jan. 1.

    They argued that “our economy is fragile,” and that raising these taxes would discourage saving and investment that the economy needs to grow. President Barack Obama wants to extend the 2001 and 2003 tax cuts for 98 percent of taxpayers but allow them to expire for the highest-earning 2 percent of households.
    http://politicalticker.blogs.cnn.com...-on-tax-cuts/:

    Washington (CNN) – Thirty-one House Democrats, most of whom face tough re-election bids this fall, have signed a letter to House Speaker Nancy Pelosi and House Majority Leader Steny Hoyer urging them to extend expiring tax breaks for all income levels, including the wealthy.

    The letter–written by Utah Rep. Jim Matheson, Illinois Rep. Melissa Bean, Virginia Rep. Glenn Nye and Michigan Rep. Gary Peters–states that after listening to economists, small businesses and families over recent weeks they are concerned that "raising any taxes right now could negatively impact economic growth."

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