Bill Kristol: 'It Won't Kill The Country If We Raise Taxes' On Millionaires

[ODENTON]

"It won't kill the country if we raise taxes a little bit on millionaires," he said on "Fox News Sunday." "It really won't, I don't think. I don't really understand why Republicans don't take Obama's offer."

"Really? The Republican Party is going to fall on its sword to defend a bunch of millionaires, half of whom voted Democratic and half of whom live in Hollywood and are hostile?" he asked."

"Exit polls last week found that six in ten voters supported ending the tax cuts on the wealthy, but House Republicans have remained adamantly opposed to allowing any of the rates to expire, instead supporting other changes to the tax code."


http://www.huffingtonpost.com/2012/1...n_2113671.html

[soulflower]

I'm loving this trend of repubs seeing the light. I hope the trend continues

[ODENTON]

I'm loving this trend of repubs seeing the light. I hope the trend continues

Ditto, and votes can make one see clearer.

[zenwalk]

It doesn't matter what Kristol thinks on this subject. Or any subject for that matter. His issue is American Israeli relations and fostering a war between Iran and the West. This other stuff is just a side show to the little egg sucking mongoose.

[Creekman]

It doesn't matter what Kristol thinks on this subject. Or any subject for that matter. His issue is American Israeli relations and fostering a war between Iran and the West. This other stuff is just a side show to the little egg sucking mongoose.

You nailed it!

[demopublican]

I'm loving this trend of repubs seeing the light. I hope the trend continues

I think most people understand that. It is a balancing act. If you are willing to sacrifice small business jobs for taxes simply raise the tax on millionaires.

[soulflower]

I think most people understand that. It is a balancing act. If you are willing to sacrifice small business jobs for taxes simply raise the tax on millionaires.

It's time republicans start dealing with facts.

Jobs are created in spite of tax rates, not because of tax rates. A small tax increase won't destroy the economy. The republicans said Clinton's tax increases in the 90s would destroy the economy. The tax increases did nothing to prevent the 20 million new jobs created under Clinton.

[Haberdasher]

I think most people understand that. It is a balancing act. If you are willing to sacrifice small business jobs for taxes simply raise the tax on millionaires.

If the Bush tax cuts created employment, it should have been steadily raining jobs since 2003.

Tax policy is a very negligible part of job creation.

[demopublican]

I did not say it would destroy the economy. But it will cost some small business jobs.

[dsummoner]

It's time republicans start dealing with facts.

Jobs are created in spite of tax rates, not because of tax rates. A small tax increase won't destroy the economy. The republicans said Clinton's tax increases in the 90s would destroy the economy. The tax increases did nothing to prevent the 20 million new jobs created under Clinton.

And what bubble akin to the tech and Internet bubbles are you expecting to see for said jobs creation?

[soulflower]

I did not say it would destroy the economy. But it will cost some small business jobs.

I doubt it.

Job growth is slow because demand for goods and services(domestic and abroad) is still below pre-recession levels. A tax cut or increase will do little to change the job situation for better or worse...

[demopublican]

http://www.nber.org/chapters/c10856.pdf

When you have some time for light reading.

[soulflower]

And what bubble akin to the tech and Internet bubbles are you expecting to see for said jobs creation?

I don't know. I'm just saying Clinton's tax increases didn't prevent those jobs from being created. Jobs are created in spite of tax rates, not because of tax rates.

If low taxes are so good or job creation, why are the high tax Blue state economies generally wealthier than the low tax Red states? Do you think overtaxed New Yorkers would rather have Alabama's economy for lower taxes?

[soulflower]

http://www.nber.org/chapters/c10856.pdf

When you have some time for light reading.

I'll bookmark it and read it some time.

Do you think job growth has been so sluggish over the Bush and Obama years because taxes on businesses are too high?

I'm not arguing that there isn't a degree to which a tax increase will affect job growth. I just don't think we're anywhere near the point where the wealthy couldn't absorb a small tax increase. The economy did fine during the Clinton years when tax rates were higher...

[Grindelwald]

I heard Obama say that taxes would automatically go up on EVERYONE at the start of New Year unless a new tax cut proposal was signed. He said that neither Dems nor Pubs wanted this and that he "had his pen in his pocket, ready to sign the bill." If taxes are raised it's 100% on the Republicans.

[dsummoner]

I don't know. I'm just saying Clinton's tax increases didn't prevent those jobs from being created. Jobs are created in spite of tax rates, not because of tax rates.

If low taxes are so good or job creation, why are the high tax Blue state economies generally wealthier than the low tax Red states? Do you think overtaxed New Yorkers would rather have Alabama's economy for lower taxes?

There are multiple factors that affect job creation which function in a differing manner across economic sector. The principal economic drivers of the economies of New York and Alabama are quite different (as they are within geographical regions within each state). The effects of an increased tax burden, correspondingly, will differ.

[dsummoner]

I heard Obama say that taxes would automatically go up on EVERYONE at the start of New Year unless a new tax cut proposal was signed. He said that neither Dems nor Pubs wanted this and that he "had his pen in his pocket, ready to sign the bill." If taxes are raised it's 100% on the Republicans.

Nope. The desire for the fiscal enslavement and lynching of a minority group is entirely on the Democrats.

[Creekman]

http://www.nber.org/chapters/c10856.pdf

When you have some time for light reading.

You will get a real education reading this. They are all former members of The Council of Economic Advisors to George Bush or members of his administration. That was written to justify the Bush tax cuts.

Most of us know how that worked out!

[dsummoner]

BTW, making a modest income of $200K per individual or $250K per married couple is not equal to millionaire or billionaire.

[karlydee]

BTW, making a modest income of $200K per individual or $250K per married couple is not equal to millionaire or billionaire.

Most small business owners don't come close to that kind of taxable income AGI or otherwise.

http://smallbiztrends.com/2010/11/ho...ners-make.html

Also, companies with less than 50 employees (I think that's the correct number) are exempted from obamacare.