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Thread: GOP plan to extend tax cuts for rich adds $36 billion

  1. #151
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by FilmFestGuy View Post
    Thank you. Now you all are making my point for me. Tax cuts - unless they're extremely dramatic don't do anything.

    Sure, you get a little more take-home pay (and I know people don't admit it, but most of them are taking home even more under Obama - at least those under $250,000 got a little stimulus in their checks) - but it doesn't have an impact on the overall economy.

    Weren't we told that the Bush tax cuts would create jobs and grow the economy? They didn't.

    If your argument is merely, it's a good thing for people to have more take-home pay and that's the end of it, then I'm okay with that argument.

    But there is no proof that it has an impact on the economy at large - so these people saying that they're going to either fix or destroy the economy if we let them lapse on the top earning bracket really don't have an argument.

    As has been pointed out, the top brackets don't need more money to spend money. They already make more than they spend, so I don't see how letting the top rate rise a little bit is going to destroy the economy.

    It's going to be a necessary part of ending the deficit - combined with cuts in spending in all areas - including everyone's sacred cow, the Department of Defense.

    Conservatives in Britain understand this.
    I find it fallacious to only tax the rich more, as if they are being punished for something.

    The middle class needs to start paying their share.
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  2. #152
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Let me get this straight:

    Quote Originally Posted by FilmFestGuy View Post
    Sure, you get a little more take-home pay (and I know people don't admit it, but most of them are taking home even more under Obama - at least those under $250,000 got a little stimulus in their checks)
    Obama's rationale for including that "little stimulus" (i.e. tax cut) in people's checks was that it would help the economy.

    "We put $300 billion worth of tax cuts into people's pockets so that there was demand and businesses had customers."

    Are you saying that he's a liar?
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  3. #153
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by FilmFestGuy View Post
    All this is true; but do you want to return control to the party who caused the mess?

    You're like the abused wife who goes back to the abuser because the shelter wasn't very pretty.

    Reagan had a mess to fix too, and unemployment went up when he started. It was 7.4% when he started (in February '81 - I give them the last few weeks of January). In August of '82 (Obama's equivalent), the unemployment rate under Reagan was 9.8%. Under Reagan, it would continue to go up to 10.8% before it would begin its downward trend. And it was not until November of 1987 that he got it under 6%. U.S. Unemployment Rate: SA, Percent

    Reagan also saw a HUGE increase in the deficits during his tenure. National debt by U.S. presidential terms - Wikipedia, the free encyclopedia

    Back then, were you as angry about growing unemployment and increasing deficit spending?

    I'm just saying. If you were angry at Reagan because of those things, then you can be upset at Obama, too.

    They were each dealt a crappy economy and they each did things to try to fix them, and in both cases, fixing it took longer than they thought. They're not the same and I'm not claiming it, but the similarities of their early terms are striking.

    I, personally, didn't expect things would turn pretty right away. I think any American who did (party aside) is pretty delusional. How do you recover from the worst decade since the Great Depression?
    As Reagan said there you go again, distorting history. Reagan got his tax cuts passed 6 months after getting into office and was fighting 17% home mortgage rates and double digit inflation. His policies were to give money to the American people and let them pay down their debt, refinance their homes, and grow consumer spending. His policy was a pro growth policy vs a pro govt. program of Obama. this really is getting ridiculous as you keep giving talking points and posting charts that don't take into account interest rates and inflation. Who is fillling your heald with this garbage?

    Do you realize that Reagan added 1.7 trillion to the debt in 8 years and Obama has added 3 trillion in two with projected deficits of trillion dollars a year into the future? How is that good for America? Your outrage over the Republican Party is justified but Obama was part of the Congress that voted for that spending and in fact Democrats were in control of the purse strings 2007-08 and what did they do? Now they have put Bush spending on steroids.

  4. #154
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by Conservative View Post
    Film, what exactly is wrong with you? Why are you so against keeping more of your money and please, please tell me how income tax revenue WENT UP after the tax cuts according to the checkbook of the United States? I just don't get it, ranting against keeping more of what you earn, you do realize it is your money first, right? How can anything that grows revenue cause a deficit? It is the spending, not the tax cuts!!!!
    “It is the spending, not the tax cuts”? Cutting taxes, with no offsets, with two wars going on, is something the only the mad hatter would think of as logic.
    Last edited by Donc; 08-15-10 at 02:37 PM.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

  5. #155
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by FilmFestGuy View Post
    It is proof that tax cuts don't necessarily lead to job creation. Just as the 2001 and 2003 tax cuts did little to create job growth and DEFINITELY didn't lead to income growth for most Americans (as I've already pointed out several times and backed with many sources). JobWatch Indeed, nearly all private job growth between 2001 and 2005 was in the defense industries (according to the source, personally, I would like to investigate this further), which means it was government spending that was creating jobs and not the tax cuts.

    Tax cuts are not a magical band-aids that cure all ills.
    Film, the tax cuts in 2001 were exactly like the Obama tax cuts and did the same thing, nothiing, they were rebates. In 2003 they were rate cuts. Do you understand the difference? Again, I ask you why are you so anti keeping more of what you earn. It seems to me that maybe you don't work, don't pay taxes thus have no point of reference?

  6. #156
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by donc View Post
    “It is the spending, not the tax cuts”? Cutting taxes, with no offsets, with two wars going on, is something the only the mad hatter would think of as logic.
    Cutting taxes grew govt. revenue, only a liberal believes that human behavior won't change if taxes go up. How is NY doing with their Millionaires tax? Tell me why you have a problem keeping more of your money and why tax rate cuts have always grown revenue? How can that happen?

  7. #157
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by RightinNYC View Post
    Let me get this straight:



    Obama's rationale for including that "little stimulus" (i.e. tax cut) in people's checks was that it would help the economy.

    "We put $300 billion worth of tax cuts into people's pockets so that there was demand and businesses had customers."

    Are you saying that he's a liar?
    Here is the deal on the Obama tax cut, too many strings attached and too little benefit to taxpayers.

    Tax cuts
    Total: $288 billion
    [edit] Tax cuts for individuals
    Total: $237 billion
    • $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[29]
    • $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[29]
    • $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
    • $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
    • $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[41]
    • $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
    • $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
    • $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $ 1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
    • $1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.

  8. #158
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by Conservative View Post
    Tell me why you have a problem keeping more of your money and why tax rate cuts have always grown revenue? How can that happen?

    Some people when they find that the country is in the worst financial crisis since the great depression want to find a way out, others are content just saying NO. It’s much like when some volunteer for the military, others stand in the rear with the gear and wave a flag.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

  9. #159
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by donc View Post
    Some people when they find that the country is in the worst financial crisis since the great depression want to find a way out, others are content just saying NO. It’s much like when some volunteer for the military, others stand in the rear with the gear and wave a flag.
    So your answer is to take money away from the taxpayer and give it to the govt. so they can bailout out state responsibility issues? Amazing that the waste, fraud, and abuse of our taxdollars at the federal level is ignored but don't let a private company do anything wrong. Do you realize how foolish you sound?

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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by Conservative View Post
    So your answer is to take money away from the taxpayer and give it to the govt. so they can bailout out state responsibility issues? Amazing that the waste, fraud, and abuse of our taxdollars at the federal level is ignored but don't let a private company do anything wrong. Do you realize how foolish you sound?
    another day, more insults....nice to know somethings never change

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