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

  1. #551
    warrior of the wetlands
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by Conservative View Post
    Sounds to me like you live in the wrong country. How does someone getting wealthy hurt the middle class?

    Bullet point number 4 doesn't mean a thing to me as I really don't care. We live in the greatest country on the face of the earth that allows people to become all they can be and you seem to want to decide how much someone else should make. Just think of how great it would be if you focused on being the best you could be and millions of others did the same thing. Too bad you are consumed by class envy. It isn't the government's responsibility to determine winners and losers.

    I still don't see an answer to my question, what do you think the fair share is that the rich should pay? Noticed that you ignored the article I posted showing what the rich actually pay and how much it went up during the Bush term. Wonder why? Amazing how easily some people are brainwashed.
    The last 16 major tennis tournaments in the world had 128 Men fighting for each crown and another 64 or so who tried to qualify and several hundred others who wanted to be there yet only 4 men won those 16 titles and most of them were won by only two men.

    We must change the rules to make things more FAIR!!!



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

    Quote Originally Posted by Deuce View Post
    How are poll numbers relevant to the GOP voting down their own ideas?
    What ideas did the GOP vote down? GOP hasn't been able to stop anything the last two years and they haven't controlled the legislative process for 4 years. This is a Center Right country whether you like it or not and Pelosi/Reid/Obama are implementing a far left agenda.

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

    Tax Cuts: The B.S. and the Facts | Economy | AlterNet

    The Three Great Tax Cuts: Boom, Bubble, Crash

    1. Hoover

    During World War I, the top marginal tax rate went up to 73 percent -- not the highest ever, but pretty high.

    In 1922, a series of rate cuts began. Down to 56 percent, 46 percent, and finally, in 1925, it went down to 25 percent.

    The stock market took off. There was a boom. But the boom was a bubble.

    It was followed by the Great Crash of 1929.

    There were bank failures and the Great Depression.

    2. Reagan

    From Franklin Roosevelt's second term all the way through to Jimmy Carter -- from 1936 until 1982 -- the top rate was in the 70 to 92 percent range.

    Then along came Reagan in 1981. In 1982, he cut that down to 50 percent.

    The economy went into "the worst recession since the Great Depression."

    His supporters argued that it was all Carter's fault and that the new policies would take time to work. The tax cuts stayed in place. In 1987, there was another round of tax cuts. They took the top rate down to 38.5 percent. It would stimulate the economy!

    There was a boom. But it was a bubble.

    Then, in October 1987, there was a crash -- the worst since '29. It was called Black Monday.

    Much of the bubble money had gone into -- ohmigod! -- real estate.

    Suddenly there were bank failures! More than during the Great Depression. There was a Savings & Loan crisis! There had to be a bailout.

    3. Bush II

    George Bush came into office with the healthiest, post powerful economy in American history.

    He immediately cut taxes. The top marginal rate went down from 39 percent to 35 percent. He also cut capital gains taxes and inheritance taxes. A recession immediately ensued. But he persisted.

    Eventually, the economy began to grow.

    Employment didn't grow very much. Median income went down. The stock market was pretty flat. But the financial sector -- and only the sector -- grew.

    Which should have made it obvious to someone, that it was … a bubble.

    There was a crash.


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

    Conservative
    How does someone getting wealthy hurt the middle class?
    The top 10 percent earn 50 percent of our national income and they are also also the only ones that have managed to keep their heads above water. Well... you connect the dots.To me it shows that the dough is migrating north.

    The rest of your post was/is meaningless obtuse drivel.…are your reading comprehension has took a dive.





    I still don't see an answer to my question, what do you think the fair share is that the rich should pay?

    Here is a ballpark figure, it worked for President Clinton. <36 percent and 39.6 income tax rates for individuals in the top 1.2% of the wage earners.>
    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: Dem vs Rep Tax Cut Plan in Graph form!

    I lived and worked during the Reagan years and benefited greatly as did millions. His record is there for all to see, BEA.gov, BLS.gov, and the U.S. Treasury websites have information for you. I am still waiting for an answer, what is the rich's fair share of the tax burden and do you believe that 47% of the people should pay no income taxes?

    I really don't care about what you posted here as it is irrelevant. Actual results matter a lot more.

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

    Quote Originally Posted by donc View Post
    The top 10 percent earn 50 percent of our national income and they are also also the only ones that have managed to keep their heads above water. Well... you connect the dots.To me it shows that the dough is migrating north.

    The rest of your post was/is meaningless obtuse drivel.…are your reading comprehension has took a dive.


    Here is a ballpark figure, it worked for President Clinton. <36 percent and 39.6 income tax rates for individuals in the top 1.2% of the wage earners.>
    It worked for whom? the dot.com industry? Today we have a 3.8 trillion dollar budget compared to what the Republicans made Clinton sign. Clinton never balanced a budget with that tax rate and there is no evidence that the Democrats will ever cut spending regardless of what the tax rates are. There is more value to the American people keeping what they earn vs. giving it to the govt. to be wasted. It is the people's money first thus no tax cut has to be paid for. I am still waiting for you to explain to me how Federal income tax revenues went up AFTER the Reagan and Bush tax rate cuts.

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

    Quote Originally Posted by donc View Post
    The top 10 percent earn 50 percent of our national income and they are also also the only ones that have managed to keep their heads above water. Well... you connect the dots.To me it shows that the dough is migrating north.

    The rest of your post was/is meaningless obtuse drivel.…are your reading comprehension has took a dive.







    Here is a ballpark figure, it worked for President Clinton. <36 percent and 39.6 income tax rates for individuals in the top 1.2% of the wage earners.>
    2 men have won more major tennis titles than the 20 million other tennis players combined over the last 5 years

    so what is the problem? the other competitors need to get stronger, we don't need to hamstring Nadal and Federer


    why should someone who already pays far more in taxes than he already uses get to keep less of his next dollar than someone who is a net drain on the public treasury.

    the problem with a progressive income tax is that those who vote for the big spenders don't suffer any tax increases and thus have no incentive to reign in the idiotic spending of politicians who buy their votes by promising them goodies paid for by an industrious minority of net tax payers



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

    Conservative

    It worked for whom? the dot.com industry?
    Today we have a 3.8 trillion dollar budget compared to what the Republicans made Clinton sign.
    What a hoot your are conservative. The above sentence has you bitching about” a 3.8 trillion dollar budget “ and at the sentence below your whining about paying the budget off.

    There is more value to the American people keeping what they earn vs. giving it to the govt. to be wasted.
    It is the people's money first thus no tax cut has to be paid for.
    Sure it’s the “people’s money”. Why not pay the debt down and USE THE “people’s money” that had the use of it for the last ten years and evidently made most of it?
    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: Dem vs Rep Tax Cut Plan in Graph form!

    TurtleDude

    2 men have won more major tennis titles than the 20 million other tennis players combined over the last 5 years

    so what is the problem? the other competitors need to get stronger, we don't need to hamstring Nadal and Federer
    Aaaaw.. Isn’t that nice, two strawmen he even named them “Nadal and Federer” and
    its not even Halloween.



    why should someone who already pays far more in taxes than he already uses get to keep less of his next dollar than someone who is a net drain on the public treasury.

    the problem with a progressive income tax is that those who vote for the big spenders don't suffer any tax increases and thus have no incentive to reign in the idiotic spending of politicians who buy their votes by promising them goodies paid for by an industrious minority of net tax payers.

    How about getting the economy back in shape(with the sunset dough ) and make it possible for the "net drain", as you call American Citizens a shot at a decent paying job. Much like they had before reagainomics kicked in.
    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: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by Conservative View Post
    It worked for whom? the dot.com industry? Today we have a 3.8 trillion dollar budget compared to what the Republicans made Clinton sign. Clinton never balanced a budget with that tax rate and there is no evidence that the Democrats will ever cut spending regardless of what the tax rates are. There is more value to the American people keeping what they earn vs. giving it to the govt. to be wasted. It is the people's money first thus no tax cut has to be paid for. I am still waiting for you to explain to me how Federal income tax revenues went up AFTER the Reagan and Bush tax rate cuts.
    As they say, elections have consequences. In 2008 the country decided to go in a direction that led to an explosion of government spending. People have to pay for it. I think it is a losing arguement for Republicans to argue this point. Putting fairness aside, any politician would like to be on the side that gives something to 95% of the people and perhaps screwing the other 5%. Who wants to be on the other side of that arguement?

    There is no debate that the deficit has to come down. In all likelihood this is not the end of the soak the rich mentality. Many states are raising their tax rates on the higher incomes, don't forget the 3.8% surcharge on capital gains that starts I think in 2013 from the HC bill.

    Time will tell if this is good or bad for the country. I can tell you I recently retired. Although I made a pretty good income, it just stopped being worth it after all the taxes along with the stress that comes with a higher paying job.

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