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

  1. #261
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    There is evidence that the sunset on the just the higher tax rates (expansion of the 28% bracket at and re-instatement of the 36% and 39.6% rates), re-instatement of the PEP and limitations on itemized deductions, and imposition of a 20% tax rate on capital gains and dividends will have a smaller impact than the other provisions of the sunset. The MA forecast is just the increases in taxes that affects those with higher incomes (the changes I listed above). According to this analysis it would raise $60 billion annually.

    Last edited by drz-400; 08-19-10 at 01:10 AM.

  2. #262
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by drz-400 View Post
    There is evidence that the sunset on the just the higher tax rates (expansion of the 28% bracket at and re-instatement of the 36% and 39.6% rates), re-instatement of the PEP and limitations on itemized deductions, and imposition of a 20% tax rate on capital gains and dividends will have a smaller impact than the other provisions of the sunset. The MA forecast is just the increases in taxes that affects those with higher incomes (the changes I listed above). According to this analysis it would raise $60 billion annually.

    Based on those charts, it would also result in lower GDP growth and higher unemployment.
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  3. #263
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by RightinNYC View Post
    Based on those charts, it would also result in lower GDP growth and higher unemployment.
    Obviously, and it would appear that the effects of specificly the high income provisions are smaller than the rest that primarily affect low/mid income (lower tax rates, child care credit, marrige penalty, EITC, MWP, AMT). If people want a compromise for debt and stimulus, here it is. I would be in favor an indefinite extension, of course I have not been as concerned with the current deficits as others and have been a bigger proponent of stimulus.
    Last edited by drz-400; 08-19-10 at 02:06 AM.

  4. #264
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by TurtleDude View Post
    LOL you call me a hack? too funny for words
    When you constantly go out of your way to constantly ignore Lord T's post showing how your stance on income only taxes is dishonest, yes you are.

    When presented with multiple instances of how your position objectively doesn't make sense is met with literal avoidance, that does not suggest honesty is something you care about.

    Obama's policies are idiotic and you lap them up
    Too bad I criticized them. I see you can't help but keep lying.
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  5. #265
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by obvious Child View Post
    When you constantly go out of your way to constantly ignore Lord T's post showing how your stance on income only taxes is dishonest, yes you are.

    When presented with multiple instances of how your position objectively doesn't make sense is met with literal avoidance, that does not suggest honesty is something you care about.



    Too bad I criticized them. I see you can't help but keep lying.
    his posts that you seem to worship does nothing of the sort

    you again confuse opinions with facts and you just don't like the fact that I have no use for parasitic opinions or the "greater good" trumps individual rights argument



  6. #266
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by UtahBill View Post
    IF their income is up in the multi-millions, go for it....it's not like they will SUFFER in any way.
    how do you know? You assume that anyone who is far more industrious than you can afford what ever tax hikes people like you want to visit on them? You must assume that wealthy people have the same expenses you do and thus can afford huge increases in the amount of discretionary income taken from them. That is idiotic



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

    this looks like a promising outcome to hold downt the debt,

  8. #268
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by TurtleDude View Post
    how do you know? You assume that anyone who is far more industrious than you can afford what ever tax hikes people like you want to visit on them? You must assume that wealthy people have the same expenses you do and thus can afford huge increases in the amount of discretionary income taken from them. That is idiotic
    Can anyone show me any time in recent history that more revenue going to D.C. resulted in less spending and a surplus that actually reduced the debt? Another thing that is idiotic is believing that when you raise taxes on even another class that human behavior will not change or that revenue projections will be met.

    I wonder why it is so hard for people to understand how keeping more of what they earn is a good thing and actually helps the economy and even how they react if they have less take home pay with higher taxes thus less for spending, saving, investing, or paying down debt. Maybe that is the problem, people calling for higher taxes don't pay any taxes or are part of the group that want to keep people dependent on that govt?

  9. #269
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by Conservative View Post
    Can anyone show me any time in recent history that more revenue going to D.C. resulted in less spending and a surplus that actually reduced the debt? Another thing that is idiotic is believing that when you raise taxes on even another class that human behavior will not change or that revenue projections will be met.

    I wonder why it is so hard for people to understand how keeping more of what they earn is a good thing and actually helps the economy and even how they react if they have less take home pay with higher taxes thus less for spending, saving, investing, or paying down debt. Maybe that is the problem, people calling for higher taxes don't pay any taxes or are part of the group that want to keep people dependent on that govt?
    those who mainly call for higher taxes want it to hit others. its envy or in the case of the uber rich-a disgusting ploy to kill of the less affluent rich and to ingratiate themselves to the masses of envious



  10. #270
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by TurtleDude View Post
    how do you know? You assume that anyone who is far more industrious than you can afford what ever tax hikes people like you want to visit on them? You must assume that wealthy people have the same expenses you do and thus can afford huge increases in the amount of discretionary income taken from them. That is idiotic
    I was plenty industrious, when I needed to be. The wife and I enjoy a very good retirement, with a 4500 sq. ft. summer home and a 2200 sq. ft winter home. A lot of people, myself included, consider us rich. Certainly, we have all we need and then some.

    I do not envy the rich, that is for the wannabes like so many here who envy the rich so much that they want to avoid paying taxes like the rich.
    Somebody has to pay for infrastructure.
    As for others being more industrious, I applaud them. But no way will I believe that the financiers on Wall Street are industrious on a level plain. Like Politicians, they make their own rules, to suit themselves. Wall Street is a rigged game, has been all along. The rules change, the methods of cheating change, but the game is always RIGGED.
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