soulflower

Tax Cuts in search of a problem

108 posts in this topic

53 minutes ago, Jimmy Jazz said:

Well yeah, I don’t mean this bill. I mean one the Senate puts together that can get 60 votes.

I don’t see that happening after the Trumpcare debacle

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19 minutes ago, mcorioles said:

What's wrong with the proposed tax cuts?

They widen the gap between the rich and everyone else. Not good for a democracy, or for an economy.

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40 minutes ago, hst2 said:

They widen the gap between the rich and everyone else. Not good for a democracy, or for an economy.

The tax isn't lowered on the richest......only the lower tax brackets get breaks ........mortgage deductions limited to houses under 500,000.

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48 minutes ago, mcorioles said:

The tax isn't lowered on the richest......only the lower tax brackets get breaks ........mortgage deductions limited to houses under 500,000.

Cutting the estate tax lowers it for the richest.

Move some of that burden over to kids paying their college loans.

Edited by hst2

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2 hours ago, Eastside Terp said:

It's why I support the fair tax and have had that as my signature on here for more than a decade .....

Taxes are intended to raise revenue but are used to social engineer and reward special interest groups .....

They trade tax breaks for votes and just pit one special interest against another special interest ......

And the wealthy and corporations are the most powerful interest groups.

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1 hour ago, soulflower said:

 

Josh Barro is quite bright.

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2 hours ago, soulflower said:

What’s wrong with keeping tax rates the same? The economy is growing. The stock market is soaring. 

Its not like we have a Balanced Budget

Where’s the fiscal responsibility?

 

What is wrong with cutting taxes so that people pay less and keep more of the money they work for?   I understand the balanced budget issue, but please.  Fiscal responsibility?   We haven't had fiscal responsibility for 8 years of Obama, and 8 years of Bush prior to that.  Fiscal responsibility means deep spending cuts, which nobody ever seems to want to do.  Get the government out of the entitlements, subsidies, and handout business and put them in charge of infrastructure, civil, and national defense.  Stop spreading troops all over the globe and use the military for defense of the country only.  Become more isolationist.  We don't own the world, or it's problems.  Let other nations fend for themselves instead of us doing it and picking up the tab all of the time.  Yeah, right.  It will never happen.  But if it did, we could afford to let people keep more of their money and balance our budgets at the same time.  

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1 hour ago, hst2 said:

And the wealthy and corporations are the most powerful interest groups.

And will pay the most taxes no matter what the final bill looks like ......

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12 minutes ago, cprenegade said:

What is wrong with cutting taxes so that people pay less and keep more of the money they work for?   I understand the balanced budget issue, but please.  Fiscal responsibility?   We haven't had fiscal responsibility for 8 years of Obama, and 8 years of Bush prior to that.  Fiscal responsibility means deep spending cuts, which nobody ever seems to want to do.  Get the government out of the entitlements, subsidies, and handout business and put them in charge of infrastructure, civil, and national defense.  Stop spreading troops all over the globe and use the military for defense of the country only.  Become more isolationist.  We don't own the world, or it's problems.  Let other nations fend for themselves instead of us doing it and picking up the tab all of the time.  Yeah, right.  It will never happen.  But if it did, we could afford to let people keep more of their money and balance our budgets at the same time.  

That's verifiably false. After 2009, Obama was quite the fiscal conservative. Granted, the GOP controlled House kept him in line.  
CHART OF THE DAY: Barack Obama Is Totally Torpedoing Deficit Levels

"Under Obama, the deficit is falling from 10% of GDP to just 3%," tweeted MSNBC's Ari Melber. "But only 6% of America knows it.

There's often a misconception that a democratic President would be more likely to raise these ratios by promoting big government.

But the reality is quite the opposite.

http://www.politifact.com/truth-o-meter/statements/2016/jan/12/barack-obama/we-have-cut-our-deficits-three-fourths-obama-state/

While the debt hasn't decreased, it's not going to happen until we get a balanced budget. 

As for Tax Cuts, I have yet to see a good rationale for doing it. And your acknowledgement that the government doesn't seem to be able to cut spending is why this kind of policy is so irresponsible

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4 hours ago, cprenegade said:

First, he did promise them on the campaign trail.  It might be one of the few things he said that he actually follows through on.  Second, lower taxes are part of the conservative ideology.  Some people vote republican primarily in the hopes of less taxes.   There is nothing wrong with people getting to keep more of the money they earn.  Problem is republicans never follow through with spending cuts.  Unless those tax cuts generate more revenue, spending cuts are needed to offset the lost revenue.  That is were republicans fall painfully short of conservative ideals.  

The majority of these cuts go to corporations. Corporations have been extremely robust for some time. Totally unnecessary tax cuts. 

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6 minutes ago, soulflower said:

That's verifiably false. After 2009, Obama was quite the fiscal conservative. Granted, the GOP controlled House kept him in line.  
CHART OF THE DAY: Barack Obama Is Totally Torpedoing Deficit Levels

"Under Obama, the deficit is falling from 10% of GDP to just 3%," tweeted MSNBC's Ari Melber. "But only 6% of America knows it.

There's often a misconception that a democratic President would be more likely to raise these ratios by promoting big government.

But the reality is quite the opposite.

http://www.politifact.com/truth-o-meter/statements/2016/jan/12/barack-obama/we-have-cut-our-deficits-three-fourths-obama-state/

While the debt hasn't decreased, it's not going to happen until we get a balanced budget. 

As for Tax Cuts, I have yet to see a good rationale for doing it. And your acknowledgement that the government doesn't seem to be able to cut spending is why this kind of policy is so irresponsible

Wow, Obama decreased deficit levels.  What an "atta-boy" he deserves.  I wish I could run my house by spending thousands over what I make per month and then cut it to maybe 900 over what I make per month and get credit for being fiscally responsible.  He was no more fiscally responsible than anyone else.  Now had he run a surplus and actually cut the debt even in a small degree, I might give him credit.  But for a president who claimed he would go line by line through the budget, he was as fiscally irresponsible as the rest of them.  All those percentages and numbers sound good, but like statistics you can do what you want with them.  The bottom line is that the debt increased every year under Obama, like it did under Bush, and that's all that counts.  

I'm done arguing about the deficit or debt being blown up.  It only makes a good argument when the opposition party is in power.  None of my republican friends cared one bit when Bush was in office, but they sure did when Obama was in office.  Same way during the Obama years, just reversed.  Tired of arguing it, anyone who wants to put more net money in my hands from my gross has my support.  Screw the deficit and the debt.  Somebody else can deal with that once they get over their partisan beliefs.  Now if somebody wants to get serious about spending cuts, maybe I will listen.  But I don't see it happening.  Republicans talk the game and never deliver.  Democrats don't even attempt to talk it.  

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8 hours ago, Eastside Terp said:

And will pay the most taxes no matter what the final bill looks like ......

And the top 1% own around 40% of the nation's wealth.  I guess we need to get that bumped up to 50% in the near future.

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10 minutes ago, ivanbalt said:

And the top 1% own around 40% of the nation's wealth.  I guess we need to get that bumped up to 50% in the near future.

No ones stopping you from becoming a 1%er.

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2 minutes ago, stevez51 said:

No ones stopping you from becoming a 1%er.

Sounds like you know the process.  Please enlighten us.  Being born into wealth wasn't an option like it was for the Trumps, Waltons, Kennedys, etc.

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1 minute ago, ivanbalt said:

Sounds like you know the process.  Please enlighten us.  Being born into wealth wasn't an option like it was for the Trumps, Waltons, Kennedys, etc.

Complaining on here doesn't help .......

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1 minute ago, stevez51 said:

Complaining on here doesn't help .......

Shocking, you have no actual response.

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Just now, ivanbalt said:

Shocking, you have no actual response.

At least I can be positive about it .......

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12 hours ago, hst2 said:

Cutting the estate tax lowers it for the richest.

Move some of that burden over to kids paying their college loans.

Do you really want to bring up debt?

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Again,what's the problem!

Have you seen the plan?

NO TAX cut for the richest they stay at 39%

 

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Unreal,people protest against their own interest because they are Dems.

If Obama proposed this I would be behind it too.

Edited by mcorioles

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13 hours ago, soulflower said:

 

Any Democrat that bought into the GOP deficit rhetoric hasn't been paying attention. They didn't even attempt to pay for Bush's Medicare prescription drug benefit.

Key point is the middle class tax cuts expire after five years and the cuts to corporations and the wealthy are permanent. 

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Good ,all of you give back your percentage of cuts.

The Govt is giving me money back.....waahhhh.

 

It really is unbelievable.

Edited by mcorioles

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26 minutes ago, mcorioles said:

Unreal,people protest against their own interest because they are Dems.

If Obama proposed this I would be behind it too.

Obama cut middle class taxes and all you do is bash him, so we know that's a lie.

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