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Thread: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

  1. #371
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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by TurtleDude View Post
    not at all

    I find it amusing that people like you cyber slurp him because he whines that the rich don't pay enough taxes while he uses his immense power to structure his compensation to avoid paying taxes.

    I guess you cannot see who that is rather hypocritical
    cyber slurp...thats funny i asked because i was curious to see what your response would be, as you appear to be an ardent supporter of the rich...

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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by TurtleDude View Post
    its you dems that treat the upper middle class the same as someone making 100 million a year
    so from that comment can we conclude you would support raining taxes on that particular group of rich folks?
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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by TurtleDude View Post
    its you dems that treat the upper middle class the same as someone making 100 million a year
    Fine... draw the line at $1.0 million income. The latest Senate bill did, yet it was defeated. Proving the Repubs 1) are not really interested in tax cuts for everyone or 2) not all that interested in balancing the budget.

    They should lower taxes for everyone under $1.0 million and raise the marginal rate on those earning more than $1.0 to 50%. As to job creation by this particular class of people (which is a joke, as no one has incentive to create jobs when tax rates promote moving money FROM a business to your personal account), they should accomplish this with targeted investment (job creation) credits. Since this is not the discussion on the hill, we know this is ALL about tax cuts for the uber well-to-do and NOTHING else.

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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by upsideguy View Post
    Fine... draw the line at $1.0 million income. The latest Senate bill did, yet it was defeated. Proving the Repubs 1) are not really interested in tax cuts for everyone or 2) not all that interested in balancing the budget.

    They should lower taxes for everyone under $1.0 million and raise the marginal rate on those earning more than $1.0 to 50%. As to job creation by this particular class of people (which is a joke, as no one has incentive to create jobs when tax rates promote moving money FROM a business to your personal account), they should accomplish this with targeted investment (job creation) credits. Since this is not the discussion on the hill, we know this is ALL about tax cuts for the uber well-to-do and NOTHING else.
    Noticed you ran from my response to you earlier, not surprising. Still waiting for you to tell us all how the govt. taxing a certain class benefits you or the country in general? You seem to have no problem with the govt. taking more personal income from the rich and spending that how they see fit vs. allowing the individual to spend it the way they want. Guess you wouldn't have a problem with the govt. doing that to you then? When you get your first full time job how about having your check sent to the govt. and letting them send back to you what THEY think you need? Is that what you are learning in school?

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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Politics aside, it sounds like some people on this forum just need to eat a Waaaaaaahmburger with a side order of french cries and they will feel better.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by Barbbtx View Post
    You don't speak Dem?

    It goes something like this,
    Dem speak RED

    [B][B][B]The Republicans want to give tax cuts to the rich, but refuse to say how they will pay for them.[/B] Mind you, the tax remains the same. It's not a cut.
    But when you say the Dems want to raise taxes on the rich, they say ]NO, we just want to do away with the tax cuts, Bush put in place[/B].Even though taxes would go up.
    You might want to note that when Bush put the Tax Cuts into effect, the ubber wealthy got bigger breaks than the middle class.

    WASHINGTON, Jan. 7 — Families earning more than $1 million a year saw their federal tax rates drop more sharply than any group in the country as a result of President Bush’s tax cuts, according to a new Congressional study.

    The study, by the nonpartisan Congressional Budget Office, also shows that tax rates for middle-income earners edged up in 2004, the most recent year for which data was available, while rates for people at the very top continued to decline.
    http://www.nytimes.com/2007/01/08/washington/08tax.html


    It stands to reason that in this economy, the middle-class, who didn't get as many benefits as the wealthy need to keep their taxes the same, while the wealthy, who have already benefited much more, should be glad to help the country by allowing the tax cuts to expire. In fact, many wealthy people are not even asking for them to continue.

    What is amazing, is all the Republicans/Tea Partiers etc., that are bent on giving the rich people more money. I can see the Republican Congressmen going for it, they receive huge contributions from these wealthy people, but what are schmucks in the middle class getting from these tax cuts for the rich, remaining in place?

    If your mantra is going to be no more deficit spending, and the tax cuts to the wealthy by remaining will increase the deficit by $700B, aren't you Reps talking out of both sides of your mouth?

    Got it?
    BTW if these taxes are allowed to expire, we will have the highest corporate taxes in the world. People will be flocking here to set up businesses.
    What are you worried about, your leader, Bush already outsourced most of the work to China and other countries, they weren't coming here when the taxes were cut, so what is the difference?



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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    The left tried a luxury tax, and what happened? It was repealed in 1996, after much damage was done. They ended up sinking the boating industry and other luxury businesses suffered. Link below.

    NY tried to generate revenue from the wealthy and what happened? They got less. Link below.

    You try to screw the wealth creators and they'll move, not participate in punitive activity, pay 2 bucks to avoid giving one to the pigs in DC, and others simply won't invest here. There is China and Eastern Europe you know.

    That's just the way it is.

    here is a taste... more below:
    WALTER SCHULZ, Boat Builder: (1992) When that tax came down, I mean, it was just as if, I know the metaphor sounds exaggerated, as if someone turned the faucet off.

    KWAME HOLMAN: At that time we talked with Walter Schulz, founder and president of Shannon Yachts. After 17 years of building boats, his company did collapse. Schulz was forced to declare bankruptcy.

    http://www.pbs.org/newshour/bb/budget/budget_1-1.html
    Isn't trying to screw the rich great? Who pays? The Average Hardworking Joe.

    Kwame Holman looks at how a 1990 budget concession has failed to produce revenue, because a luxury tax it instituted, back fired


    JOE DOCKERY, Boat Owner: It's nice to finally be able to see it completed, boy, and it has been two and a half years.

    KWAME HOLMAN: Joe Dockery is, in a word, rich, on this particular day, rich enough to take delivery on this 72-foot sailing yacht, custom-designed and built by Alden Yachts of Portsmouth, Rhode Island. Cost: $2 1/2 million.

    JOE DOCKERY: I'm very content. It looks just super.

    KWAME HOLMAN: These are the carpenters, fiberglass, and metal workers, electricians who actually did the work. Most are first and second generation Portuguese, skilled craftsmen with a specialty in boat-building. They are not rich, but their glad Joe Dockery is. His one order alone kept 20 workers employed full-time at Alden for two and a half years. And that's not counting the subcontractors who built the 100-foot carbon-fiber mast, molded the lightweight high-tech hull, and sewed the sails. Tony Abreau made all the customized stainless steel pieces.

    TONY ABREAU, Metal Worker: This big piece over there cost between five and six thousand dollars.

    KWAME HOLMAN: Joe Dockery, who owns a string of successful car dealerships in New Jersey, didn't hesitate to choose Alden to build his boat. In fact, this is his second Alden. That's his first, a 54-footer now for sale. But Dockery wouldn't even consider having his new boat built here or anywhere else in the United States until Congress repealed the federal luxury tax on boats. That tax would have cost him about $240,000, a bill he could afford but refused to pay.

    New York State Tax Revenue Trails Six-Month Forecast - BusinessWeek



    Millionaires cashing out of Bay Area
    The Bay Area's wealth boom is producing an explosion of millionaires -- in Nevada, Wyoming and perhaps Canada.

    Wealth managers and other advisers to the well-heeled say "wealth migration" -- taking the money and running -- is behind a surprising drop in the number of Bay Area millionaires.

    "I'm hearing from more California baby boomers, 'I need to get out,'" said Diane Kennedy, a Phoenix accountant and financial adviser to the wealthy.

    "You can still make a lot of money in California. The problem is, then you have to pay taxes on that money," said Kennedy, who recently helped a California client with annual income of about $1 million save $96,000 annually by making their home in Jackson Hole, Wyo., their primary residence.

    "Effectively, you have the state of California subsidizing their relocation through the tax savings,"

    Millionaires cashing out of Bay Area | San Francisco Business Times
    State
    Updated: August 21, 2010, 02:06 AM

    State’s wealthiest flee hike in taxes
    ALBANY — This year, the deep pockets of New York’s rich were tapped like never before. The state’s wealthiest pay new higher income tax rates, higher taxes for limousines and yachts, more to enter a horse in a race and more to dabble in real estate.

    Golisano, who created 5,000 jobs from his Rochester payroll processing company, bristled when politicians said he was bailing out on New York this spring.

    ...Buffalo Sabres owner B. Thomas Golisano, the Paychex founder and billionaire who was paying $13,000 a day in New York income taxes...

    “It’s not just who leaves,” said the institute’s E. J. McMahon. “It’s who doesn’t come here?
    Last edited by zimmer; 12-05-10 at 06:10 PM.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

  8. #378
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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    mertex;1059140375]You might want to note that when Bush put the Tax Cuts into effect, the ubber wealthy got bigger breaks than the middle class.
    So what? The rich pay more in taxes and have higher base thus get back a higher number but the same percentage. Seems like a hard concept for you to grasp.

    It stands to reason that in this economy, the middle-class, who didn't get as many benefits as the wealthy need to keep their taxes the same, while the wealthy, who have already benefited much more, should be glad to help the country by allowing the tax cuts to expire. In fact, many wealthy people are not even asking for them to continue.
    Do you see those not asking for the money back sending more to the Federal Govt? Why not? Why do you care if the rich get to keep more of what they earn? Here we go again, someone who doesn't understand the concept of earning money and keeping more of what one earns.

    What is amazing, is all the Republicans/Tea Partiers etc., that are bent on giving the rich people more money. I can see the Republican Congressmen going for it, they receive huge contributions from these wealthy people, but what are schmucks in the middle class getting from these tax cuts for the rich, remaining in place?
    Giving the rich more money? Who is giving the rich more money? You don't seem to understand it is their money? You work for the govt?

    If your mantra is going to be no more deficit spending, and the tax cuts to the wealthy by remaining will increase the deficit by $700B, aren't you Reps talking out of both sides of your mouth?
    Yep, buying what this Administration tells you since they have been so accurate on all their predictions. What makes you so sure that any tax increase will generate more revenue to the Federal Govt. and that the govt. will use it to lower the deficit and/or debt? 700billion over 10 years with my math means 70 billion a year. The 700billion sounds better doesn't it vs. 70 billion. If all that money got to the govt, and it was used to lower the deficit we would have had a 1.23 trillion deficit instead of 1.3 trillion deficit, Now doesn't that make you feel better?


    What are you worried about, your leader, Bush already outsourced most of the work to China and other countries, they weren't coming here when the taxes were cut, so what is the difference?
    Right, it was Bush's fault that Obama lost 4 million jobs the last two years. Didn't he "bring us back from the brink" or was that just another lie? If this is the education you are getting from the schools we are indeed doomed.

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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by zimmer View Post
    The left tried a luxury tax, and what happened? It was repealed in 1996, after much damage was done. They ended up sinking the boating industry and other luxury businesses suffered. Link below.

    NY tried to generate revenue from the wealthy and what happened? They got less. Link below.

    You try to screw the wealth creators and they'll move, not participate in punitive activity, pay 2 bucks to avoid giving one to the pigs in DC, and others simply won't invest here. There is China and Eastern Europe you know.

    That's just the way it is.




    New York State Tax Revenue Trails Six-Month Forecast - BusinessWeek
    Yet now we have another group of arrogant liberals who believe that increasing the taxes will create more revenue to the govt. Most mature individuals learn from their mistakes but not liberals, they compound them.

  10. #380
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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by Conservative View Post
    Noticed you ran from my response to you earlier, not surprising. Still waiting for you to tell us all how the govt. taxing a certain class benefits you or the country in general?
    Really, I thought you were far more informed than that.
    Try, not adding $700B to the deficit, to give more money to the wealthy they don't need, and which you/your party claim you do not want to add to the deficit. And the government has been taxing this certain class all along, it is not new, their taxes are just reverting back to what they were before Bush decided to gift his base with tax cuts that helped put us in the predicament we find ourselves in.

    You seem to have no problem with the govt. taking more personal income from the rich and spending that how they see fit vs. allowing the individual to spend it the way they want.
    You seem to have no problem with putting the country further in hole to help the wealthy, who don't need it and didn't ask for it, but don't seem to be bothered at all by your leaders refusing to extend benefits to the unemployed, which will create a bigger problem for the country when they go bankrupt, lose their homes and cars, while the rich just stash it away into savings where it doesn't do them or the country any good.

    Guess you wouldn't have a problem with the govt. doing that to you then?
    Actually, I, myself would prefer that they let all the tax cuts expire, before giving in to Republicans and allowing the wealthy to continue to suck the life out of the country. Republicans claim to be such great "patriots" but they sure hem and haw when it comes to paying taxes. They want the benefits the taxes provide, protection from terrorists, safe food and water to drink, lower crime rates, etc., but they don't want to pay for them. That isn't patriotism if you ask me, that is selfishness and greed.

    When you get your first full time job how about having your check sent to the govt. and letting them send back to you what THEY think you need? Is that what you are learning in school?
    And along with your other conservative co-horts, you seem to have no trouble spewing your snarky and unnecessary remarks. How do you know whether Upsideguy has a job or not? Or, do you accuse all Dems of being out of work? For your information, Libs are now the wealthiest, however, Dems are the ones extending a hand to the needy. If you keep allowing your leaders to coddle the rich at your expense, you may find yourself being one visiting the Goodwill store and standing at the bread line at the County Bread Basket. Is that what they teach you at Faux News?



    "I have been thinking that I would make a proposition to my Republican friends... that if they will stop telling lies about the Democrats, we will stop telling the truth about them."
    --Adlai Stevenson, Politician





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