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

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

    Quote Originally Posted by Conservative View Post
    I was addressing the thread topic, care to address that? Income tax dollars come from personal income earned by individuals and companies. Think that the expiration of the Bush tax cuts for the top income earners will generate 36 billion in revenue to the govt?
    70 pages and nearly 700 post later and you're still asking this same question which was answered in the first few paragraphes of the article from the OP...

    New data from the nonpartisan Joint Committee on Taxation show that households earning more than $1 million a year would reap nearly $31 billion in tax breaks under the GOP plan in 2011, for an average tax cut per household of about $100,000.

    The analysis, requested by Democrats on the tax-writing House Ways and Means Committee, comes as debate heats up over tax cuts enacted during the Bush administration, most of which are scheduled to expire at the end of this year. Republicans want to extend all the cuts, which would cost the Treasury Department $238 billion in 2011, according to the taxation committee. President Obama and congressional Democrats have vowed to extend the cuts only for families making less than $250,000 a year and individuals making less than $200,000 -- 98 percent of American taxpayers -- in a plan that would add about $202 billion to next year's deficit.
    Simple math...

    238 - 202 = 36

    That's where your $36 million comes from. Now, whether the fed uses that money to pay down the deficit or applies it to other programs is up to them (unless, of course, the people voice their opinions on the matter). But that's where the figure comes from - a difference between extending the Bush tax cuts for all or elimitating them for some and allowing them to remain in affect for others.
    Last edited by Objective Voice; 09-06-10 at 12:18 PM.

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

    Quote Originally Posted by pbrauer View Post
    Why does ANYONE need to prove anything to YOU, you would just personally attack them if they did.
    Apparently any post that refutes your claims is a personal attack.

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

    Quote Originally Posted by Conservative View Post
    Apparently any post that refutes your claims is a personal attack.
    i somehow doubt that if you were simply refuting his claims, he would have a problem with that.

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

    Quote Originally Posted by randel View Post
    i somehow doubt that if you were simply refuting his claims, he would have a problem with that.
    There you go again knowing what everyone else thinks. Why don't you prove me wrong and prove that the GOP plan to extend tax cuts for the rich will add 36 billion to the deficits?

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

    Quote Originally Posted by Conservative View Post
    There you go again knowing what everyone else thinks. Why don't you prove me wrong and prove that the GOP plan to extend tax cuts for the rich will add 36 billion to the deficits?
    I just did that for him...

    Quote Originally Posted by Conservative View Post
    I was addressing the thread topic, care to address that? Income tax dollars come from personal income earned by individuals and companies. Think that the expiration of the Bush tax cuts for the top income earners will generate 36 billion in revenue to the govt?
    70 pages and nearly 700 post later and you're still asking this same question which was answered in the first few paragraphes of the article from the OP...

    New data from the nonpartisan Joint Committee on Taxation show that households earning more than $1 million a year would reap nearly $31 billion in tax breaks under the GOP plan in 2011, for an average tax cut per household of about $100,000.

    The analysis, requested by Democrats on the tax-writing House Ways and Means Committee, comes as debate heats up over tax cuts enacted during the Bush administration, most of which are scheduled to expire at the end of this year. Republicans want to extend all the cuts, which would cost the Treasury Department $238 billion in 2011, according to the taxation committee. President Obama and congressional Democrats have vowed to extend the cuts only for families making less than $250,000 a year and individuals making less than $200,000 -- 98 percent of American taxpayers -- in a plan that would add about $202 billion to next year's deficit.
    Simple math...

    238 - 202 = 36

    That's where your $36 million comes from. Now, whether the fed uses that money to pay down the deficit or applies it to other programs is up to them (unless, of course, the people voice their opinions on the matter). But that's where the figure comes from - a difference between extending the Bush tax cuts for all or elimitating them for some and allowing them to remain in affect for others.

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

    Quote Originally Posted by Conservative View Post
    There you go again knowing what everyone else thinks. Why don't you prove me wrong and prove that the GOP plan to extend tax cuts for the rich will add 36 billion to the deficits?
    see post 698....don't need to be a mind reader to believe that he wouldnt have any issues with you if all your posts did were refute his claims...common sense man, common sense.

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

    Quote Originally Posted by Conservative View Post
    There you go again knowing what everyone else thinks. Why don't you prove me wrong and prove that the GOP plan to extend tax cuts for the rich will add 36 billion to the deficits?
    I think it time for you to prove the nonpartisan Joint Committee on Taxation wrong.


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

    Quote Originally Posted by Objective Voice View Post
    I just did that for him...
    The problem is simple math doesn't take into account human behavior thus there is no such proof. It is a prediction and projection which from this Administration and Congress hasn't been very accurate, has it? You really think that letting those tax cuts expire is going to generate more tax revenue which then will reduce the deficits? LOL, prove that the govt. has ever reduced the deficit by getting more personal income tax revenue?

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

    Quote Originally Posted by pbrauer View Post
    I think it time for you to prove the nonpartisan Joint Committee on Taxation wrong.
    The CBO is non partisan and wrong all the time. This Administration has been wrong all the time. This Congress has been wrong all the time so why wouldn't the non partisan Joint Committee be wrong as well?

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

    Quote Originally Posted by Conservative View Post
    The CBO is non partisan and wrong all the time. This Administration has been wrong all the time. This Congress has been wrong all the time so why wouldn't the non partisan Joint Committee be wrong as well?
    But he wasn't asking you to refute what was stated in the CBO's report. He asked you to refute the figures from the Joint Committee on Taxation which is what the $36M figure is based on. Besides, you're willing to put your faith in other government reporting agencies. Why not in the JCT? What makes their estimates any less credible than any of the other agencies you place your trust in?
    Last edited by Objective Voice; 09-06-10 at 12:34 PM.

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