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Thread: Senate blocks Obama's tax plan

  1. #41
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    Re: Senate blocks Obama's tax plan

    The senate blocking something is no longer newsworthy.
    Liberté. Égalité. Fraternité.

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    Re: Senate blocks Obama's tax plan

    Quote Originally Posted by SirPwn4lot View Post
    Point out what you'd cut/increase in spending, and how much you'd like to cut/increase revenue, and which areas. I'm very interested to see your proposal.

    Dubious constitutionality? Care to elaborate?

    Estimated receipts for fiscal year 2010 are $2.381 trillion, an estimated decrease of 11% from 2009.
    $1.061 trillion – Individual income taxes
    $940 billion – Social Security and other payroll tax
    $222 billion – Corporation income taxes
    $77 billion – Excise taxes
    $23 billion – Customs duties
    $20 billion – Estate and gift taxes
    $22 billion – Deposits of earnings
    $16 billion – Other

    The President's budget for 2010 totals $3.55 trillion. Percentages in parentheses indicate percentage change compared to 2009. This budget request is broken down by the following expenditures:
    Mandatory spending: $2.184 trillion (+15.6%)
    $677.95 billion (+4.9%) – Social Security
    $571 billion (−15.2%) – Other mandatory programs
    $453 billion (+6.6%) – Medicare
    $290 billion (+12.0%) – Medicaid
    $164 billion (+18.0%) – Interest on National Debt
    $11 billion (+275%) – Potential disaster costs
    $0 billion (−100%) – Troubled Asset Relief Program (TARP)
    $0 billion (−100%) – Financial stabilization efforts


    Discretionary spending: $1.368 trillion (+13.1%)
    $663.7 billion (+12.7%) – Department of Defense (including Overseas Contingency Operations)
    $78.7 billion (−1.7%) – Department of Health and Human Services
    $72.5 billion (+2.8%) – Department of Transportation
    $52.5 billion (+10.3%) – Department of Veterans Affairs
    $51.7 billion (+40.9%) – Department of State and Other International Programs
    $47.5 billion (+18.5%) – Department of Housing and Urban Development
    $46.7 billion (+12.8%) – Department of Education
    $42.7 billion (+1.2%) – Department of Homeland Security
    $26.3 billion (−0.4%) – Department of Energy
    $26.0 billion (+8.8%) – Department of Agriculture
    $23.9 billion (−6.3%) – Department of Justice
    $18.7 billion (+5.1%) – National Aeronautics and Space Administration
    $13.8 billion (+48.4%) – Department of Commerce
    $13.3 billion (+4.7%) – Department of Labor
    $13.3 billion (+4.7%) – Department of the Treasury
    $12.0 billion (+6.2%) – Department of the Interior
    $10.5 billion (+34.6%) – Environmental Protection Agency
    $9.7 billion (+10.2%) – Social Security Administration
    $7.0 billion (+1.4%) – National Science Foundation
    $5.1 billion (−3.8%) – Corps of Engineers
    $5.0 billion (+100%) – National Infrastructure Bank
    $1.1 billion (+22.2%) – Corporation for National and Community Service
    $0.7 billion (0.0%) – Small Business Administration
    $0.6 billion (−14.3%) – General Services Administration
    $19.8 billion (+3.7%) – Other Agencies
    $105 billion – Other
    Care to use number from when the country is not in one of its worse recessions?

    Why dont you use numbers from 2002-2008 when the country saw record growth and compare those receipts into the coffers. History has proven that when the govt cuts taxes they end up getting more revenue. Its a fact to to try and claim otherwise is dishonest.

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    Re: Senate blocks Obama's tax plan

    Quote Originally Posted by SirPwn4lot View Post
    The rich can spend well under 10% of their income, while the poor spend a significantly higher number. What do you suggest the FairTax being levelled at? And what does this mean compared to their current tax levels for the rich and the poor?
    what part of the constitution was written to make being poor no disadvantage to being rich? THe Poor spend more of their income on a cheeseburger than I do. DO you suggest that merchants have a sliding scale of prices based on the buyer's income?



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    Re: Senate blocks Obama's tax plan

    Quote Originally Posted by Heavy Duty View Post
    Care to use number from when the country is not in one of its worse recessions?

    Why dont you use numbers from 2002-2008 when the country saw record growth and compare those receipts into the coffers. History has proven that when the govt cuts taxes they end up getting more revenue. Its a fact to to try and claim otherwise is dishonest.
    His figures had nothing to do with the constitutionality of many of the governmental programs that could not pass the courts until FDR threatened to pack the supreme court



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    Re: Senate blocks Obama's tax plan

    Sorry I don't quite see how that works. Care to explain it?

    Also, the country IS in a recession. I'm asking what you'd change in the 2010 budget...

    Then I asked you to elaborate on the constitutionality of programs...



    Where do you suggest we are?
    Last edited by SirPwn4lot; 12-05-10 at 11:23 AM.

  6. #46
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    Re: Senate blocks Obama's tax plan

    Quote Originally Posted by SirPwn4lot View Post
    The rich can spend well under 10% of their income, while the poor spend a significantly higher number. What do you suggest the FairTax being levelled at? And what does this mean compared to their current tax levels for the rich and the poor?
    Who cares what the rich earn? Only the wealth envy crowd. Its what you spend. A rich people has more income to spend. Poor people usually only buy necessaries. They would get a prebate under the Fair Tax every month from the govt thus allowing them not to pay taxes the same as they do now.
    http://www.fairtax.org/PDF/2010PrebateExplained.pdf
    example.
    Family of four

    annual allowance $18,310
    annual prebate $4,211
    monthly prebate $351
    Last edited by Heavy Duty; 12-05-10 at 11:24 AM.

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    Re: Senate blocks Obama's tax plan

    Quote Originally Posted by Heavy Duty View Post
    Care to use number from when the country is not in one of its worse recessions?

    Why dont you use numbers from 2002-2008 when the country saw record growth and compare those receipts into the coffers. History has proven that when the govt cuts taxes they end up getting more revenue. Its a fact to to try and claim otherwise is dishonest.
    Why would you not want to use the most recent numbers, that is the best reflection of reality we have right now.

    Also no history is not that simple, and without a source or at least an example you're arguement has no basis.

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    Re: Senate blocks Obama's tax plan

    Quote Originally Posted by Wiseone View Post
    Why would you not want to use the most recent numbers, that is the best reflection of reality we have right now.

    Also no history is not that simple, and without a source or at least an example you're arguement has no basis.
    Because history has proven that in recessions the govt takes in less because there are less people earning a income to be taxed on.

    Links? Its common sense and I dont see why two adults cannot understand basic economics. Do I need to link that the sun is hot?

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    Re: Senate blocks Obama's tax plan

    yes, the government brings in less... and we're in that position now...

    I'm asking what he'd do to the federal budget of 2010... Given reduced revenue.

  10. #50
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    Re: Senate blocks Obama's tax plan

    he could start by having the guts to fulfill his responsibilities by proposing one

    Dems won

    for someone who guarantees political events ten years out you sure ask a lot of questions

    LOL!

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