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Thread: Over 90% of the income gains in the first year of the recovery went to the top 1%

  1. #301
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    No, all we need to do is return to the progressive tax rates of the 90s, cut our military spending, increase the cap on SS, and upgrade our health care system as the rest of the industrialized world has done.

    why is the 90's rate so special to you given that the economic boom of that time had nothing to do with the tax rates

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by TurtleDude View Post
    I already pay more federal income taxes than millions and millions of people who demand more government. I want less government. when those who want more start paying their fair share maybe I can see your point
    That no longer cuts it.

    It is time to pony up now - ALL OF US - or are grandkids will spit upon our graves with deserved contempt. I am a bit older than you are Turtle. I have three beautiful grandchildren and I do not want them paying for decades they do not even remember because they were not alive or were too young. That just is not fair.

    I will pay more. Will you?
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by haymarket View Post
    That no longer cuts it.

    It is time to pony up now - ALL OF US - or are grandkids will spit upon our graves with deserved contempt. I am a bit older than you are Turtle. I have three beautiful grandchildren and I do not want them paying for decades they do not even remember because they were not alive or were too young. That just is not fair.

    I will pay more. Will you?
    when you pay as much as I do we will talk. until then its a hollow claim

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by TurtleDude View Post
    why is the 90's rate so special to you given that the economic boom of that time had nothing to do with the tax rates
    No, but it did help reduce the deficit without hurting the economy as the far right, such as yourself, had warned it would!
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    No, but it did help reduce the deficit without hurting the economy as the far right, such as yourself, had warned it would!
    lots of speculation on your part

    I wasn't on the board then so stop lying about what you claim I said. do you plan on having another big boom due to a dot com expansion

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by TurtleDude View Post
    lots of speculation on your part

    I wasn't on the board then so stop lying about what you claim I said. do you plan on having another big boom due to a dot com expansion
    You would save yourself a lot of confusion if you read the post carefully before responding.

    I didn't say you did in the 90's. I said, "No, but it did help reduce the deficit without hurting the economy as the far right, such as yourself, had warned it would!"

    "they are simply recycling the same "cry wolf" claims they've used whenever anyone proposes to raise taxes. They did it in 1982 when Ronald Reagan decided to address the swelling deficit, and again in the 1993 battle over Clinton's budget. Their dire warnings weren't true then and they aren't true now.

    Reagan's Tax Equity and Fiscal Responsibility Act (TEFRA) of 1982 was the single largest peacetime tax hike in the nation's history. The act was meant to alleviate a deficit swollen by dramatic increases in defense spending and the massive tax cuts of the Economic Recovery Tax Act of 1981, which dramatically slashed taxes across the board. TEFRA was so unpopular with hardcore conservatives that Representative Jack Kemp (R-NY) ran an insurgent campaign against it, sparking speculation that he would challenge Reagan from the right in the GOP primaries in 1984. "There's no way we can get out of this recession by raising taxes," Kemp (R-NY) warned at the time, echoing the mantras of the Chamber of Commerce, the Wall Street Journal, and ultra-conservatives like Congressman Newt Gingrich. But contrary to the claims of Kemp's faction, the economy started to expand only after the passage of the TEFRA tax hikes, which negated around one-third of Reagan's 1981 cuts. Growth surged by almost nine points between the end of 1982 (when TEFRA kicked in) and the second quarter of 1983.

    Likewise, Clinton faced ferocious opposition to his 1993 budget plan which raised the top marginal rates to 39.6 percent from 31 percent. At the time, Congressional Republicans predicted doom. "The deficit will be worse," Representative Dick Armey (R-TX) warned in a CNN interview. "The impact on job creation is going to be devastating, and the American young people in particular will suffer...there simply won't be jobs for the next two to three years to go around to our young graduates."

    Former Congressman and former SEC chair, Christopher Cox, speaking to the House in May 1993 about impending doom, declared, "This is really the Dr. Kevorkian plan for our economy. It will kill jobs, kill businesses, and yes, kill even the higher tax revenues that these suicidal tax increasers hope to gain."

    The Heritage Foundation predicted that Clinton's 1993 tax proposal would lead to job loss and economic disaster."

    Jake Blumgart: Will Higher Taxes on the Rich Kill Jobs?
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    You would save yourself a lot of confusion if you read the post carefully before responding.

    I didn't say you did in the 90's. I said, "No, but it did help reduce the deficit without hurting the economy as the far right, such as yourself, had warned it would!"

    "they are simply recycling the same "cry wolf" claims they've used whenever anyone proposes to raise taxes. They did it in 1982 when Ronald Reagan decided to address the swelling deficit, and again in the 1993 battle over Clinton's budget. Their dire warnings weren't true then and they aren't true now.

    Reagan's Tax Equity and Fiscal Responsibility Act (TEFRA) of 1982 was the single largest peacetime tax hike in the nation's history. The act was meant to alleviate a deficit swollen by dramatic increases in defense spending and the massive tax cuts of the Economic Recovery Tax Act of 1981, which dramatically slashed taxes across the board. TEFRA was so unpopular with hardcore conservatives that Representative Jack Kemp (R-NY) ran an insurgent campaign against it, sparking speculation that he would challenge Reagan from the right in the GOP primaries in 1984. "There's no way we can get out of this recession by raising taxes," Kemp (R-NY) warned at the time, echoing the mantras of the Chamber of Commerce, the Wall Street Journal, and ultra-conservatives like Congressman Newt Gingrich. But contrary to the claims of Kemp's faction, the economy started to expand only after the passage of the TEFRA tax hikes, which negated around one-third of Reagan's 1981 cuts. Growth surged by almost nine points between the end of 1982 (when TEFRA kicked in) and the second quarter of 1983.

    Likewise, Clinton faced ferocious opposition to his 1993 budget plan which raised the top marginal rates to 39.6 percent from 31 percent. At the time, Congressional Republicans predicted doom. "The deficit will be worse," Representative Dick Armey (R-TX) warned in a CNN interview. "The impact on job creation is going to be devastating, and the American young people in particular will suffer...there simply won't be jobs for the next two to three years to go around to our young graduates."

    Former Congressman and former SEC chair, Christopher Cox, speaking to the House in May 1993 about impending doom, declared, "This is really the Dr. Kevorkian plan for our economy. It will kill jobs, kill businesses, and yes, kill even the higher tax revenues that these suicidal tax increasers hope to gain."

    The Heritage Foundation predicted that Clinton's 1993 tax proposal would lead to job loss and economic disaster."

    Jake Blumgart: Will Higher Taxes on the Rich Kill Jobs?
    they obviously didn't expect clinton to luck out on the big boom that he had nothing to do with

    but I don't base my opposition to taxing those who are taxed too much on these grounds

    I base it on the fact that it convinces the masses that they don't have to pay for what they want and that leads to politicians pandering to them by spending that is not paid for

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by TurtleDude View Post
    they obviously didn't expect clinton to luck out on the big boom that he had nothing to do with

    but I don't base my opposition to taxing those who are taxed too much on these grounds

    I base it on the fact that it convinces the masses that they don't have to pay for what they want and that leads to politicians pandering to them by spending that is not paid for

    Back to the class war **** again eh? Have at it then Turtledude! Viva la election!
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  9. #309
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    Quote Originally Posted by haymarket View Post
    That no longer cuts it.

    It is time to pony up now - ALL OF US - or are grandkids will spit upon our graves with deserved contempt. I am a bit older than you are Turtle. I have three beautiful grandchildren and I do not want them paying for decades they do not even remember because they were not alive or were too young. That just is not fair.

    I will pay more. Will you?
    I absolutely will. Just as soon as they cause EVERYONE to pay their fair share, mandate cuts, and have a specific and targeted plan to pay down the debt. Glad to see you have joined the cause. We SHOULD spend every dime wih our grandkids in mind. without those cuts you would have to be some kind of total moron to advocate for giving the fed MORE money to spend and not insisting on real debt cuts.

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by JP Hochbaum View Post
    And where are those jobs again?????
    Every one is doing the job and you are asking where

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