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

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

    Lets here if for the (though belated) fiscal responsible Republican Party.


    <A Republican plan to extend tax cuts for the rich would add more than $36 billion to the federal deficit next year -- and transfer the bulk of that cash into the pockets of the nation's millionaires, according to a congressional analysis released Wednesday. >



    washingtonpost.com

    http://www.washingtonpost.com/wp-dyn...T2010081200375
    Last edited by Donc; 08-12-10 at 11:56 PM.
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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by donc View Post
    Lets here if for the (though belated) fiscal responsible Republican Party.


    <A Republican plan to extend tax cuts for the rich would add more than $36 billion to the federal deficit next year -- and transfer the bulk of that cash into the pockets of the nation's millionaires, according to a congressional analysis released Wednesday. >



    washingtonpost.com

    Comparing Democratic and Republican tax plans
    WOW! Look at that $1,000,000 bracket, There are some people here would have you believe that tax breaks for wealthy causes more money to go to the treasury.


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

    Quote Originally Posted by pbrauer View Post
    WOW! Look at that $1,000,000 bracket, There are some people here would have you believe that tax breaks for wealthy causes more money to go to the treasury.

    Probably a few that think the earth is flat as well.
    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

    The sad part is that I assumed that graph came from Media Matters at first.

    It's almost like the Post is using absolute numbers instead of percentages in order to make this seem more skewed.
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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    The Republicans are lead by McConnell, Boehner, and Steele.. so I can't begin my sentence with, "If the Republicans were smart..."

    Instead I just have to say: See: Bush Tax Cuts. yeah, that turned out to be a real winner

    Smart tax cuts don't exist anymore, just "oh, woe on the rich, they're too heavily taxed"... these morons might find themselves a winning platform with across the board tax cuts, but it won't benefit America in the long haul
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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by WingsOfDesire View Post
    The Republicans are lead by McConnell, Boehner, and Steele.. so I can't begin my sentence with, "If the Republicans were smart..."

    Instead I just have to say: See: Bush Tax Cuts. yeah, that turned out to be a real winner

    Smart tax cuts don't exist anymore, just "oh, woe on the rich, they're too heavily taxed"... these morons might find themselves a winning platform with across the board tax cuts, but it won't benefit America in the long haul
    You realize the Democrats are proposing to reauthorize the vast majority of the Bush tax cuts, right? Contrary to the last 8 years of claims that the tax cuts for the wealthy caused the deficit, $202b of the $238b in "lost" revenue comes from keeping the lower taxes on people making under $250k. The "cost" of the lower taxes on people making over $250k is a little over 2% of the 1.4 trillion dollar deficit we'll have in 2011. But yea, it's all Bush's fault.
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    Dem vs Rep Tax Cut Plan in Graph form!



    hmm something is fishy here....

    source: http://voices.washingtonpost.com/ezr...the_obama.html
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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

    Quote Originally Posted by JohnWOlin View Post
    I'm so glad Ezra included all of the hard data with his graph..... that makes it or breaks it.
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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    \
    Quote Originally Posted by JohnWOlin View Post
    hmm something is fishy here....
    Indeed. You're presenting numbers out of context. Let's look at these tax cuts for the super-rich in relation to how much the average super-rich taxpayer pays:

    superrich.JPG

    And here's average yearly tax bill, by bracket:
    Income.JPG

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

    So your saying what exactly with your graphs? Super rich are getting screwed?
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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