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

  1. #41
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Hey Donc, if cutting taxes worked, why did Argentina go belly up rather then expand?

    Furthermore, if Austerity measures work, why did every country who took an IMF bailout package get totally screwed?

    There's a reason why I know Conservative's positions are foolhardy. Other countries tried them. And utterly failed.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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

    Quote Originally Posted by obvious Child View Post
    Hey Donc, if cutting taxes worked, why did Argentina go belly up rather then expand?

    Furthermore, if Austerity measures work, why did every country who took an IMF bailout package get totally screwed?

    There's a reason why I know Conservative's positions are foolhardy. Other countries tried them. And utterly failed.
    Possibly. But you can also find an example or examples of failure after implementing any other policy, too.
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

  3. #43
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by Harshaw View Post
    Possibly. But you can also find an example or examples of failure after implementing any other policy, too.
    While that is true, what Conservative pushes is effectively what Argentina did. And any student of history knows, that didn't go well for them.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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

    There was more going on in Argentina than just that. But even so, so what? The point is, what failed in Argentina may not fail elsewhere. Or maybe it will.

    Now, if it led to disaster every time it was tried, you may have more to go on.
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

  5. #45
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by donc View Post
    Why do I care?

    Hhmm..lets see, this country has a shrinking middle class that my grandchildren will inherit. This entire winger shrieking and tearing of the cloth about Obama not extending the bush tax cuts is a red herring, all anyone has to do is check history.

    Between 1951 and1980 the tax rate was at various times was between 70 and 90%, the nation had a growth rate that averaged 3.7 percent. When the gipper increased what was up to that time was the "largest peacetime tax increase in history (TEFRA) the economy actually picked up after a (gasp) tax increase, of almost 1 percent of GDP.I would like my grandchildren to see a country that has some industry left and a reviving middleclass before they start throwing dirt in my face.

    Not a whole lot, just what I had when I was young.
    So you think taking more taxes from the rich will help the middle class? Please give me an example of anytime that higher taxes made someone in the middle class move up a class? Do you realize how foolish your statement is? Allowing people to keep more of what they earn regardless of the class is what creates class movement. I cannot believe I have to convince someone the value of keeping more of what they earn?

  6. #46
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by Conservative View Post
    But the Bush tax cuts didn't cut payroll taxes which by the way are SS taxes. You want to cut SS taxes then pay out what when the people retire?
    Correct on the first sentence. On the second, I never said I want to cut SS taxes.
    Quote Originally Posted by Harshaw View Post
    They don't get their payroll taxes refunded. No one's proposing that they be lowered, either.
    Correct sir, on both counts.

    Earned Income Tax Credit
    The United States federal Earned Income Tax Credit (EITC or EIC) is a refundable tax credit for low-income workers and families. It is means tested and designed to both reduce the burden of payroll taxes and supplement the wages of low-income workers, particularly those who have children. For tax year 2010, a claimant with one qualifying child can receive a maximum refundable credit of $3,050, a claimant with two qualifying children can receive a maximum of $5,036, and a claimant with three or more qualifying children can receive a maximum of $5,666.

    Earned Income Tax Credit - Wikipedia, the free encyclopedia


  7. #47
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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by RightinNYC View Post
    I think you're grossly overestimating the availability and utility of what you earlier referred to as "tax shelters." Additionally, if you don't believe we can trust the actual tax data, what do you suggest using as an alternative?



    Correct, I was imprecise - I meant the top earning 1%.
    You are still wrong, go look at that table again and pay close attention to the letters - AGI at the top of the column - they mean something.

    While you're at it, please peruse the following link:

    Tax shelter - Wikipedia, the free encyclopedia


  8. #48
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by pbrauer View Post
    Correct on the first sentence. On the second, I never said I want to cut SS taxes.

    Correct sir, on both counts.

    Earned Income Tax Credit
    The United States federal Earned Income Tax Credit (EITC or EIC) is a refundable tax credit for low-income workers and families. It is means tested and designed to both reduce the burden of payroll taxes and supplement the wages of low-income workers, particularly those who have children. For tax year 2010, a claimant with one qualifying child can receive a maximum refundable credit of $3,050, a claimant with two qualifying children can receive a maximum of $5,036, and a claimant with three or more qualifying children can receive a maximum of $5,666.

    Earned Income Tax Credit - Wikipedia, the free encyclopedia
    Then the charts posted are distortions if not downright lies. They showed the tax cuts by pay range and many of those that show tax cuts don't pay income taxes and that is what Bush cut.

  9. #49
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by Harshaw View Post
    There was more going on in Argentina than just that. But even so, so what? The point is, what failed in Argentina may not fail elsewhere. Or maybe it will.

    Now, if it led to disaster every time it was tried, you may have more to go on.
    Well, Chile did much of the same. Actually Chile is a better example of the failed notions Conservative is pushing.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  10. #50
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by obvious Child View Post
    Well, Chile did much of the same. Actually Chile is a better example of the failed notions Conservative is pushing.
    What exactly am I pushing! You seem to be an expert on everything so tell me what I am pushing?

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