Now, this is the problem I have with the GOP.
The President proposed generating revenue by closing some tax loopholes on those businesses that either have demonstrated their ability to make a profit WITHOUT generous tax breaks or indicated they weren't using the tax breaks available to them, i.e., purchasing private jets. And what did the GOP do?
Which, "loopholes", would those be? I personally don't want
any of my deductions taken away from me. I can't afford to pay anymore taxes.
I made 40 g's last year. I don't qualify for the earned income credit, because I'm self employed. I had to cough up 7 grand in taxes and now you think I should pay
more goddamned taxes? I'll fight tooth-n-nail any regime that thinks that that's not enough. They can kiss my ass, in fact.
Balked, maybe?
No one was suggesting raising the marginal tax rate on anyone until this last round of debt ceiling negotiations.
that's not true. Obama's been talking about raising the marginal rate since before he got elected.
And just so we're clear, the only reason the President insisted on tax revenue was because the GOP insisted on including entitlement reform in negotiations.
Sounds like Obama is just trying to **** the people, however he can.
So, apdts, let me ask you the same question you asked of U.S. Socialist but in a slightly different way?
How would you go about raising revenue to help the private sector create more taxable revenue. You said it must be a shared sacrafic, but how can that be with the middle class can barely pay for gas, groceries, electricity...the basics in order to survive?
Stop holding up drilling permits. A recent study said that 230,000+ jobs would be created, if the permitting process wasn't all mucked up by the government. Stop over-regulating the coal industry. Obama has already promised to put them out of business. Stop trying to turn our food supply into our fuel supply. Ethanol subsidies have driven up the price of corn and thereby, the price of beef, pork and chicken. Stop with over-regulation by the EPA. Basically, Obama should halt 99% of his agenda. It's what's cocking things up.
A little free advice: you can't knowingly kill jobs, then bitch that you're not getting enough tax revenue.
I'm a small business owner. Yes, I work in the oilfield--an oil company shill according to some on this forum. Another hint: If I go out of business, and get a job where I do qualify for the earned income credit, I'll never pay taxes, again. Tell me who wins in that scenario.
Ya'll Liberals are always harping about raising taxes and closing, "loopholes", but I seriously doubt any of you have the first damn clue how it will effect real people. You all live in a bubble, where the only people who pay taxes and own businesses are the super rich.