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House blocks funding for health care law

The savings is based on zero populaton growth, much lower unemployement, no additional government spending projects, and healthcare being "spending neutral". Plus, it enacts a host of new taxes to curtail economic growth.

Dubious at best.

It beats anything we got from the Republican administration during the 12 years they were in power.
 
Upper-income tax cuts and tax deal

"The president’s budget requests have consistently adhered to one campaign pledge: Allow the Bush-era tax cuts for the wealthiest 2% of Americans to expire. Like last year’s budget, this budget proposes to permanently extend middle-class tax relief for individuals earning less than $200,000 and joint-filers earning less than $250,000. This proposal implicitly means allowing the top 33% and 35% marginal tax rates to revert to 36% and 39.6%, respectively, for individuals earning above $200,000 and joint-filers making more than $250,000. The budget also assumes that the personal exemption phase-out and the limitation on itemized deductions are reinstated for these top earners. Finally, the preferential rate on capital gains and dividends would increase from 15% to 20% for upper-income tax filers (prior to the Bush-era tax cuts, qualified dividends had been taxed as ordinary income under progressive tax rates). Last December’s tax deal had extended these upper-income tax cuts through the end of 2012 as the price for securing middle-class tax relief and continuing emergency unemployment insurance.

December’s tax deal also included a two-year estate tax cut (benefiting only the wealthiest 0.25% of Americans) instead of reinstating the estate tax at 2009 levels, as the president’s 2011 budget had proposed. This year’s budget proposes extending the estate and gift tax rates at 2009 parameters (after the December tax deal expires), adding an estimated $271 billion to deficits over a decade, relative to current law. In contrast, extending the upper-income tax cuts and the estate tax levels in the tax deal would add $953 billion to deficits over the next decade, relative to the president’s proposals, offsetting almost all of the deficit reduction measures in the president’s budget request."

President Obama

The estate tax should be permanently repealed and never used on anyone again.
 
The estate tax should be permanently repealed and never used on anyone again.

How much was the deficit reduced since its ten year phase down 2001? If we are to be serious about our national debt, everyone will have to carry their weight.
 
The estate tax should be permanently repealed and never used on anyone again.

No, the exact opposite, for several years the estate tax should be raised to help pay down the debt.

The policies of Reagan began the single greatest transfer of wealth in history. Remember the poker game analogy, when one player controls all the chips, the others must play on credit or quit. The game finally ends. In real world terms that means great depression.
 
How much was the deficit reduced since its ten year phase down 2001? If we are to be serious about our national debt, everyone will have to carry their weight.

Now you have said something I agree with “EVERYONE” should carry their weight.

I for one was in favor of letting all the Bush tax cuts expire, seeing liberals like to cast the Bush tax cuts as for the rich, it must have been heavily weighted for them correct? So let them all expire, remember Obama has already given the lower 95% a tax cut, so them taking such a small hit, from the Bush tax cut for the rich, would just be them carrying their weight right ?

I'll go right back to what I said before, we don't have a taxation problem, we have a spending problem. I for one will be more then willing to pay more in taxes, when I see the government get serious about cutting spending, I'm sorry but I don't see any cutting when you freeze spending after raising it 30 to 35% of what it was 2 years prior, you may call it what you like, but it in no way cuts government spending.

The death tax, is simply unfair, anyones “estate” was purchased with after tax dollars, now with after tax dollars someone builds and estate …. that he can leave his children, and the first person knocking on his coffin is the US government with their hand out saying you owe me again.

It's a bad tax, always has been and always will be, and should be repealed.
 
Now you have said something I agree with “EVERYONE” should carry their weight.

I'm glad we can agree on that.

I for one was in favor of letting all the Bush tax cuts expire, seeing liberals like to cast the Bush tax cuts as for the rich, it must have been heavily weighted for them correct? So let them all expire, remember Obama has already given the lower 95% a tax cut, so them taking such a small hit, from the Bush tax cut for the rich, would just be them carrying their weight right ?

I would go along with doing away with all of the Bush tax cuts, and that includes the Estate tax cut.

I'll go right back to what I said before, we don't have a taxation problem, we have a spending problem. I for one will be more then willing to pay more in taxes, when I see the government get serious about cutting spending, I'm sorry but I don't see any cutting when you freeze spending after raising it 30 to 35% of what it was 2 years prior, you may call it what you like, but it in no way cuts government spending.

You can't politically get there through spending cuts alone since we are split on what should be cut and what shouldn't be cut. That should be obvious from the last 3 decades of our history.

The death tax, is simply unfair, anyones “estate” was purchased with after tax dollars, now with after tax dollars someone builds and estate …. that he can leave his children, and the first person knocking on his coffin is the US government with their hand out saying you owe me again.

I thought you said earlier you were in favor of letting the Bush tax cuts expire?

It's a bad tax, always has been and always will be, and should be repealed.

So we are back to continued deficit spending.
 
Catawba;1059317063]I'm glad we can agree on that.

-smiles- yeah it is kind of good to agree once in a while


I would go along with doing away with all of the Bush tax cuts, and that includes the Estate tax cut.

Yep even the estate tax, saying I don't like something, doesn't mean that I wouldn't be in favor of using it to get us out of the mess we are in.


You can't politically get there through spending cuts alone since we are split on what should be cut and what shouldn't be cut. That should be obvious from the last 3 decades of our history.

-laughs- see we agree again, because I agree that we can't get out of this with just spending cuts, or just tax increases. what I have said a few times, is I would like to see spending cuts, matched dollar for dollar in tax increases, each tax increase is for one year, with a simple up and down vote to renew it each year, but only after the spending cuts have been confirmed as actual spending cuts by an independent auditing firm, and the understanding that closing a tax loop hole .. is not a tax increase.


I thought you said earlier you were in favor of letting the Bush tax cuts expire?

as stated before, I would still think this is something that should be looked at being repealed, but to help us out of this mess, if ALL the Bush tax cuts were repealed, I would go along with even putting them back to where it was.

See I continued this debate with you, because we aren't really that far apart on some things, I think in good times, we would be much further apart but right now I'm enough of a realist to know that we need to attack the deficit from all sides.
 
-smiles- yeah it is kind of good to agree once in a while




Yep even the estate tax, saying I don't like something, doesn't mean that I wouldn't be in favor of using it to get us out of the mess we are in.




-laughs- see we agree again, because I agree that we can't get out of this with just spending cuts, or just tax increases. what I have said a few times, is I would like to see spending cuts, matched dollar for dollar in tax increases, each tax increase is for one year, with a simple up and down vote to renew it each year, but only after the spending cuts have been confirmed as actual spending cuts by an independent auditing firm, and the understanding that closing a tax loop hole .. is not a tax increase.




as stated before, I would still think this is something that should be looked at being repealed, but to help us out of this mess, if ALL the Bush tax cuts were repealed, I would go along with even putting them back to where it was.

See I continued this debate with you, because we aren't really that far apart on some things, I think in good times, we would be much further apart but right now I'm enough of a realist to know that we need to attack the deficit from all sides.


I agree, with everything you just said. :sun
 
I would still think this is something that should be looked at being repealed, but to help us out of this mess, if ALL the Bush tax cuts were repealed, I would go along

Better yet, go back to where Reagan cut the top tax from 70 down to 39 percent and repeal that. To make up the tax loss difference, finance the SDI fantasy and supply side economics, he had to triple the national debt.

ricksfolly
 
Yeah, based on a litany of new taxes on business, which will invariably lead to more layoffs, higher unemployment and less tax base.

Don't know much about business, do you... Lay offs happen when sales are down, and inventory is too high, definitely not from higher taxes.

ricksfolly
 
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