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

  1. #391
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by pbrauer View Post
    Why do you care, that I care? I makes no difference what I think. According to you I am just some dumb-assed-stupid-liberal want to soak the rich for evey penny they have.

    Causes of the French Revolution
    Oh, don't be so hard on yourself. The first step to a cure though is admitting you have a problem. I keep waiting for you to answer the question, why do you care how much the rich pay in taxes? Also noticed you didn't respond to the article I posted showing that 47% of the people don't pay any taxes yet no outrage on your part?

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

    why don't you give me the link to the page that you got your numbers from?
    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

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

    Quote Originally Posted by donc View Post
    why don't you give me the link to the page that you got your numbers from?
    GO to the U.S. Treasury site and follow the link but here is exactly what happened and I wonder why liberals continue to buy the lies and why it is ok to steal from the SS fund

    Understanding what happened requires understanding two concepts of what makes up the national debt. The national debt is made up of public debt and intragovernmental holdings. The public debt is debt held by the public, normally including things such as treasury bills, savings bonds, and other instruments the public can purchase from the government. Intragovernmental holdings, on the other hand, is when the government borrows money from itself--mostly borrowing money from social security.

    Looking at the makeup of the national debt and the claimed surpluses for the last 4 Clinton fiscal years, we have the following table:
    Fiscal
    Year End
    Date Claimed
    Surplus Public
    Debt Intra-gov
    Holdings Total National
    Debt
    FY1997 09/30/1997 $3.789667T $1.623478T $5.413146T
    FY1998 09/30/1998 $69.2B $3.733864T $55.8B $1.792328T $168.9B $5.526193T $113B

    FY1999 09/30/1999 $122.7B $3.636104T $97.8B $2.020166T $227.8B $5.656270T $130.1B
    FY2000 09/29/2000 $230.0B $3.405303T $230.8B $2.268874T $248.7B $5.674178T $17.9B
    FY2001 09/28/2001 $3.339310T $66.0B $2.468153T $199.3B $5.807463T $133.3B


    Notice that while the public debt went down in each of those four years, the intragovernmental holdings went up each year by a far greater amount--and, in turn, the total national debt (which is public debt + intragovernmental holdings) went up. Therein lies the discrepancy.

    When it is claimed that Clinton paid down the national debt, that is patently false--as can be seen, the national debt went up every single year. What Clinton did do was pay down the public debt--notice that the claimed surplus is relatively close to the decrease in the public debt for those years. But he paid down the public debt by borrowing far more money in the form of intragovernmental holdings (mostly Social Security).

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

    Quote Originally Posted by pbrauer View Post
    If you believe that crapola then I feel sorry for you. Even before the Bush tax cuts the rich were doing very well for themselves. Your are being duped in to believing the rich are being overtaxed, it simply isn't the case on and individual level.
    If you don't believe Obama appeals to class warfare you are ignorant.

    I don't know how you define rich and maybe you refer to someone like Bill Gates or the Waltons

    I refer to those who are going to bear the brunt of the Obama-Dem-CLinton tax hikes and that is people making 200k to 2 mllion a year. They are the ones who are -in most cases-going to have to make lifestyle changes if all these tax hikes take place.

    many of those people are going to see taxes go up 15-25% and if you are mainly getting your income from investments-your taxes could well double.



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

    Quote Originally Posted by Conservative View Post
    Oh, don't be so hard on yourself. The first step to a cure though is admitting you have a problem. I keep waiting for you to answer the question, why do you care how much the rich pay in taxes? Also noticed you didn't respond to the article I posted showing that 47% of the people don't pay any taxes yet no outrage on your part?
    the dems bank on a large number of non tax payers who lap up the dem mantra that only the rich should have to pay more taxes

    why would anyone who doesn't pay taxes care if government spending is running amok or that others are going to have to see huge increases in their tax bills given that many of those 47% are the main recipients of most of the dem spending schemes



  6. #396
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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    It doesn't matter what the Republicans want or don't want. The Democrats set the agenda in both houses.

    ricksfolly

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

    Quote Originally Posted by ricksfolly View Post
    It doesn't matter what the Republicans want or don't want. The Democrats set the agenda in both houses.

    ricksfolly
    As they did from January 2007 to the present, a simple fact that seems to be ignored. GW Bush couldn't do a thing without Congressional support.

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

    Quote Originally Posted by Conservative View Post
    GO to the U.S. Treasury site and follow the link but here is exactly what happened and I wonder why liberals continue to buy the lies and why it is ok to steal from the SS fund

    Understanding what happened requires understanding two concepts of what makes up the national debt. The national debt is made up of public debt and intragovernmental holdings. The public debt is debt held by the public, normally including things such as treasury bills, savings bonds, and other instruments the public can purchase from the government. Intragovernmental holdings, on the other hand, is when the government borrows money from itself--mostly borrowing money from social security.

    Looking at the makeup of the national debt and the claimed surpluses for the last 4 Clinton fiscal years, we have the following table:
    Fiscal
    Year End
    Date Claimed
    Surplus Public
    Debt Intra-gov
    Holdings Total National
    Debt
    FY1997 09/30/1997 $3.789667T $1.623478T $5.413146T
    FY1998 09/30/1998 $69.2B $3.733864T $55.8B $1.792328T $168.9B $5.526193T $113B

    FY1999 09/30/1999 $122.7B $3.636104T $97.8B $2.020166T $227.8B $5.656270T $130.1B
    FY2000 09/29/2000 $230.0B $3.405303T $230.8B $2.268874T $248.7B $5.674178T $17.9B
    FY2001 09/28/2001 $3.339310T $66.0B $2.468153T $199.3B $5.807463T $133.3B


    Notice that while the public debt went down in each of those four years, the intragovernmental holdings went up each year by a far greater amount--and, in turn, the total national debt (which is public debt + intragovernmental holdings) went up. Therein lies the discrepancy.

    When it is claimed that Clinton paid down the national debt, that is patently false--as can be seen, the national debt went up every single year. What Clinton did do was pay down the public debt--notice that the claimed surplus is relatively close to the decrease in the public debt for those years. But he paid down the public debt by borrowing far more money in the form of intragovernmental holdings (mostly Social Security).
    WTF ...just give the friggin link. I like rummaging around in closets, looking under beds. Been known to look in the medicine cabinets while in the crapper. Just give me the link to the page where you got the data.
    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. #399
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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by Conservative View Post
    As they did from January 2007 to the present, a simple fact that seems to be ignored. GW Bush couldn't do a thing without Congressional support.
    Only make Commander In Chief decisions, influence with the bully pulpit, veto, and pardon.

    ricksfolly

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

    Quote Originally Posted by donc View Post
    WTF ...just give the friggin link. I like rummaging around in closets, looking under beds. Been known to look in the medicine cabinets while in the crapper. Just give me the link to the page where you got the data.
    Do your own research, your link will provide you with enough information to prove that Clinton lied again. Apparently like all liberals you ignore that the National Debt is comprised of Public Debt and intergovt. holdings. Clinton paid down the public debt by using SS revenue from intergovt. holdings raising that debt so the combined is more each year and thus no pay down of the debt.

    Even your information refutes Clinton's statement. Let's see if you can figure out yet that Clinton and the Democrats have made a fool out of you?

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