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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 Objective Voice View Post
    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?
    Because the other reporting agencies I cite aren't making predictions, they report actual results. Results trump rhetoric and predictions. There is a prediction that the tax expiration will generate those results yet previous predictions have been wrong so why is this one more accurate?

    BEA.gov, BLS. gov, and the U.S. Treasury Dept show actual results.

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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.
    Here is the problem with your claim, from teh JCT website

    The starting point for a revenue estimate prepared by the Joint Committee staff is the Congressional Budget Office ("CBO") 10-year projection of Federal receipts, referred to as the "revenue baseline." The revenue baseline serves as the benchmark for measuring the effects of proposed tax law changes.
    The baseline assumes that present law remains unchanged during the 10-year budget period. Thus, the revenue baseline is an estimate of the Federal revenues that will be collected over the next 10 years in the absence of statutory changes.
    10 yr. projections of the CBO have never been accurate and as stated there is no way to accurate predict Federal Receipts due to the changing economy and affects of that economy on personal income.

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

    Quote Originally Posted by Objective Voice View Post
    That's a rather piss-poor attitude to have. Under the Social Security Act, the widow's former husband's Social Security benefits are passed on to his surviving spouse upon his death. I'll assume the widow's deceased spouse worked until retirement. As such, those benefits are hers now, and if I understand the system correctly, SS benefits are indexed to inflation. So, it's not her fault that age has caught up with her and the cost of living which includes her medical expenses even w/Medicare have gone through the roof. We're talking about a generation of people who did exactly as their parents before them and their government told them to do - work hard, save, live honorable and in your golden years you'll be okay because your nest-egg - Social Security benefits and Medicare - would take care of them. Should they suffer because the government has mismanaged their funds all these years?
    The piss poor attitude comes from those who think that the "rich" (whomever they may be) have an unlimited duty to pay for all the mistakes of government and to fund all of the goodies the masses vote for.

    Fault has nothing to do with it and its not my fault someone is poor nor do I have a duty to pay for her misfortune and until people like her understand that others do not have a duty to fund her existence she will continue to vote for tax and spend welfare socialists



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

    Quote Originally Posted by Conservative View Post
    Still waiting for you or anyone else to prove that the GOP plan to extend the tax cuts for the rich will add 36 billion to the deficit? You continue to believe what the Democrats tell you yet for some reason ignore the fact that all their economic predictions have been wrong.
    Tax ratio x taxable income = tax revenue (although there is a ratio equivalent described in a previous post). The larger the ratio (tax rate from say 32% raised to 36%), the greater the effective revenue.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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

    Quote Originally Posted by Conservative View Post
    there in lies the problems with liberals, the power to lay and collect taxes is what makes it the Government's money but that isn't where it comes from. Why is it that 47% of the people don't pay any taxes and how is increasing the taxes on the top 2% going to generate 36 billion dollars to the Treasury?
    it won't but by jacking up taxes on the wealthy the dems will generate lots of votes from the envious and the spiteful



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

    Quote Originally Posted by randel View Post
    so you support taking from those who have the least to give, so those that have the most can keep it .......
    from each according to their ability?

    why should the government take anymore from anyone? those at the bottom already get far more than they pay. Indeed, they pay almost nothing-if anything at all-in income taxes. SO lets just give them LESS rather than constantly take from those who already pay too much

    your mentality contemplates no limits on how much the top ought to be taxed and your desire is that those who already pay too little will have no incentive to stop voting up taxes on others



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

    Quote Originally Posted by Goldenboy219 View Post
    Tax ratio x taxable income = tax revenue (although there is a ratio equivalent described in a previous post). The larger the ratio (tax rate from say 32% raised to 36%), the greater the effective revenue.
    Unless people change their spending habits which always happens when taxes increase causing a reduction in take home pay. That is what liberals always ignore, human behavior. You actually believe that the rich won't change their spending habits with an increase in their taxes or won't work to shelter more of their income or in the case of businesses in that rich category will continue to make as much money?

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

    Quote Originally Posted by TurtleDude View Post
    The piss poor attitude comes from those who think that the "rich" (whomever they may be) have an unlimited duty to pay for all the mistakes of government and to fund all of the goodies the masses vote for.

    Fault has nothing to do with it and its not my fault someone is poor nor do I have a duty to pay for her misfortune and until people like her understand that others do not have a duty to fund her existence she will continue to vote for tax and spend welfare socialists
    I always found class envy to be a
    piss poor attitude
    thus counter productive.

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

    Quote Originally Posted by TurtleDude View Post
    from each according to their ability?

    why should the government take anymore from anyone? those at the bottom already get far more than they pay. Indeed, they pay almost nothing-if anything at all-in income taxes. SO lets just give them LESS rather than constantly take from those who already pay too much

    your mentality contemplates no limits on how much the top ought to be taxed and your desire is that those who already pay too little will have no incentive to stop voting up taxes on others
    the error in your statement is that 'all' of those whom you say 'pay to little' will always vote to tax others....

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

    Quote Originally Posted by Conservative View Post
    Unless people change their spending habits which always happens when taxes increase causing a reduction in take home pay. That is what liberals always ignore, human behavior. You actually believe that the rich won't change their spending habits with an increase in their taxes or won't work to shelter more of their income or in the case of businesses in that rich category will continue to make as much money?
    as someone whose social circles mainly involve those targeted for the Clinton/Pelosi/Obama tax hikes, I know people are changing their habits. Shifting away from dividend generating income to capital gains. Some moving assets off shore, cutting back on the spending that the economy needs to expand. Remember when the Dumbocrats passed a "luxury tax" on Yachts etc? who got hurt? Not rich people buying Yachts but the blue collar people who build them



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