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GOP Budget Proposal: Massive Tax Cut For Wealthy

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posted on Mar, 27 2009 @ 06:24 AM
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More people need to get in front of the congress, get in front of teh TV cameras and GET ANGRY about this!!!

What a cheek!!!




posted on Mar, 27 2009 @ 06:26 AM
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This is funny and about right.



posted on Mar, 27 2009 @ 06:33 AM
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Originally posted by grover


Other than the tax proposal, however, the plan was absent any details.


More proof if any further was needed that the GOP has become totally clueless.

When are they going to realize that people just don't buy it anymore? Its the average Joe... the you and me that is hurting and needs tax relief... for someone for whom it would actually mean something as opposed to giving it to someone who probably wouldn't notice one way or the other... and still they expect us to buy the old, tired lie called tricked down economics.

You can only slash income i.e. taxes so far before the system begins to break down...

... Where the hell do these fools think the money for their earmarks and their favorite hobby, war comes from?

The Easter bunny?

www.huffingtonpost.com
(visit the link for the full news article)

[edit on 26-3-2009 by grover]


No offense, but you are the one that is clueless. the average Joe as you put it is getting the biggest tax cut of all. Under 100k with a 10% tax rate. You realize that is dramatically lower than now, or under Obama's plan.

You don't get it, the way to economic recovery is not to take more and more money out of the biggest spenders' hands. That is what Obama is doing. Taxing the wealthy and businesses. Does a moderate waged person getting $54 a month extra stimulate the economy? Stop being absurd and political. Talk to economists...... Its been proven time and again, in multiple recessions and multiple economies...... cutting taxes is what stimulates growth. Increasing makes growth stagnate. Look at the lost decades of the 1960's and 1970's.



posted on Mar, 27 2009 @ 06:41 AM
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reply to post by johnny2127
 

During the 50's boom years the top tax rate was above 80% and still the economy grew and continued to grow into the 70's.

Perhaps that is too high but 25% is too low with all the debt facing us... and that is not counting what Obama has added.



posted on Mar, 27 2009 @ 06:49 AM
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Originally posted by grover
reply to post by johnny2127
 

During the 50's boom years the top tax rate was above 80% and still the economy grew and continued to grow into the 70's.

Perhaps that is too high but 25% is too low with all the debt facing us... and that is not counting what Obama has added.


In the 1950's, inflation adjusted, the top tax rate was not at 100k.

We need to cut taxes across the board, and dramatically reduce the size. of govt. People need stop thinking that govt is the solution to all problems. More often than not govt involvement causes more problems. Cut taxes, drastically reduces the size of govt, and get govt out of people's lives.

Problem solved. But if Obama is going to spend this much, tax increases are inevitable. Self fulfilling prophecy........ he's CREATING the need to raise taxes.



posted on Mar, 27 2009 @ 06:53 AM
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reply to post by johnny2127
 
To reiterate:


Think about it... If everyone making under $100,000 taxes get reduced to 10% and those making more taxes get slashed from 35 to 25%...

... how will we ever pay off what we owe prior to Obama... much less what he's adding on?

The answer we don't. If we do this plan it really is pawning the whole thing off on the next few generations... i.e. your children's children's children...

Besides all of that... not just the federal but the state and local governments will go bankrupt and cease to function so when the pot holes get too bad and the cops aren't there to deal with the crack dealers next door and... need I go on? You can count your savings from your tax cut.


I stand by that argument.



posted on Mar, 27 2009 @ 06:58 AM
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Originally posted by grover
reply to post by johnny2127
 
To reiterate:


Think about it... If everyone making under $100,000 taxes get reduced to 10% and those making more taxes get slashed from 35 to 25%...

... how will we ever pay off what we owe prior to Obama... much less what he's adding on?

The answer we don't. If we do this plan it really is pawning the whole thing off on the next few generations... i.e. your children's children's children...

Besides all of that... not just the federal but the state and local governments will go bankrupt and cease to function so when the pot holes get too bad and the cops aren't there to deal with the crack dealers next door and... need I go on? You can count your savings from your tax cut.


I stand by that argument.



You do remember that the most tax revenue the country ever takes in as a percentage of GDP is when taxes are lowered right?

Yes its the voodoo economics coined during Reagan. Bush cut taxes and we took in more revenue than ever before. But Bush spent way too much, and put us in the budget situation we are in. Spending even more is not the solution.



posted on Mar, 27 2009 @ 07:35 AM
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Tax cuts caused this mess. Billionaires pay less % wise then their secretaries.

Not to mention the billions stuffed in to Swiss banks.

Not to mention the TRILLIONS given to BILLIONAIRES while the GOP cries about giving a single penny to a poor or middle class American.

Not to mention a Budget WITH NO NUMBERS OR MONEY VALUES! Yeah, that's a real plan...



posted on Mar, 27 2009 @ 07:43 AM
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reply to post by grover
 


picture here

Actually I think THIS is funny... (or sad) .... and true.



posted on Mar, 27 2009 @ 07:45 AM
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Think about it will ya.... since Reagan started his "voodoo economics"... how many have actually benefited from tricked down economics?

Wages are stagnant and in terms of growth actually dropping... jobs have vanished as they have either been out sourced or shipped overseas and the middle class is shrinking while bush minor's tax cuts started the greatest shift of wealth upward in our history and look where we are now.

So tell me again how we've benefited?

I will agree we can over tax... but when you take into account deductions and tax breaks you end up with situations where Warren Buffet can actually say that he pays less in taxes than his secretary does and only in the twisted logic of the GOP is that right.

So again tell me how the wealthy need more tax cuts?



posted on Mar, 27 2009 @ 07:56 AM
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Republicans are a one trick pony show. Only cutting taxes on the rich does not make an economy stronger.

And this democratic congress is on a spending binge that is only going to create massive inflation and huge debt.

Frankly it in my opinion is time to ditch the two parties and go independent. I just don't see why we cannot have a real balanced budget. I don't see why the government can't be run in the black. This government should be profitable. It can be run like a business not like a fire sale.

Giving away the store and spending like crazy isn't going to help anyone. And giving greedy people a tax cut isn't going to make them more generous.



posted on Mar, 27 2009 @ 08:04 AM
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Originally posted by whatukno
And giving greedy people a tax cut isn't going to make them more generous.


The following is my opinion as a member participating in this discussion.

Wait....so rich people are inherently greedy? What income level does the greed start at I wonder?

Paying 80-90 percent of the total tax bill just isn't fair is it?

If fair is what you're after, then government should be raising the tax rates for the bottom earners to "even things out".

You can't have it both ways.

As an ATS Staff Member, I will not moderate in threads such as this where I have participated as a member.



posted on Mar, 27 2009 @ 08:13 AM
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Originally posted by grover
reply to post by jdub297
 


That's a lie. Regardless of whether they get all their taxes refunded at the end of the year... it is still taken out from every paycheck along with FICA and state taxes and so yes they pay taxes... call it a loan if you will but it still comes out of our paychecks...
PLUS we only get the standard deduction... not all the fancy ones the wealthy take advantage of to pay even less.


Do not call me a liar when you are unable to face facts.

Can't face the truth, so you change the subject?

Nothing in this thread concerns FICA or state taxes.

As for income "taken out of paychecks," NOTHING (except laziness or ignorance) requires a worker to decrease his paycheck. Most smart employees adjust their withholding every year so they don't give the Feds a "loan" every year until it's paid back at tax time.

No, we don't "only get the standard deduction." Everyone is entitled to exemptions for themselves and dependents. Deductions are only limited by a taxpayer's decision not to take advantage of every one they're entitled to. Failure to do so is a personal problem; the deductions are given generally to encourage certain behavior, like putting money aside for school, retirement, et c.

Perhaps the money "overwithdrawn" could be put to use there. Then, there'd be no net loss of income, a net increase in personal wealth, and an increase in deductions - all for "free!"

Again, do not call me a liar when you can't argue facts. You discredit yourself. As of this point, you have zero credibility on this issue.

Deny Ignorance!

jw



posted on Mar, 27 2009 @ 08:53 AM
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Republicans suck. And Democrats suck. I'm pretty sure that's been established for awhile now.

Bring back the Bull Moose Party.



posted on Mar, 27 2009 @ 08:58 AM
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reply to post by nyk537
 


Frankly the tax code is a jumbled mess. It's not fair it's not right and it's not equal. A VAT tax of 15% would be justifiable across the board. That way no group is unnecessarily burdened by an unfair amount levied.

Of course the other problem is the unfair tax on businesses. The tax rate for business is far too high. Which is an incentive for business owners to outsource jobs overseas.

Unfortunately the Republicans just cut taxes on the most wealthy individuals in this country. This has been proven ineffective. The trickle down Reaganomics does not work. There is no incentive for a person who makes a lot of money to spend more money if they are able to keep more money. It's just giving those in that tax bracket more money to save.

One does not become wealthy by cutting a lot of checks.



posted on Mar, 27 2009 @ 09:05 AM
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Originally posted by whatukno
A VAT tax of 15% would be justifiable across the board. That way no group is unnecessarily burdened by an unfair amount levied.


You would think.

Look at now how much the lower income earners are upset because they collectively pay 10% of the total tax bill. Do you think they wouldn't scream louder if they were told they would now be paying equal to those "evil" rich people?

Taxes across the board don't work. I'd be all for a Fair tax system though.



Of course the other problem is the unfair tax on businesses. The tax rate for business is far too high. Which is an incentive for business owners to outsource jobs overseas.


You'll get no disagreement from me on that.


Unfortunately the Republicans just cut taxes on the most wealthy individuals in this country.


Who traditionally are the same business owners you just mentioned.


One does not become wealthy by cutting a lot of checks.


That may be true for some, but they had to make some money to save in the first place.

Most often, those people did so by investing lots of money into a new concept or idea for a business or service.

With incredibly high corporate and capital gains taxes, they lose the incentive to do even that.



posted on Mar, 27 2009 @ 09:08 AM
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USA middle class does not deserve any tax cuts , its only the rich class who deserve it , anything else is Ron Paul,socialism and the devil .



posted on Mar, 27 2009 @ 09:10 AM
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reply to post by grover
 


AAAHHHHHAAAA!!!


Stop it stop it.

Taking from the rich to give to the poor solves NOTHING!

You can't make a person richer by making someone else poorer. Wealth is not a ZERO SUM GAME.

Rich people HIRE POOR PEOPLE. Poor people work for rich people.



posted on Mar, 27 2009 @ 09:11 AM
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Heres an Idea NYK and Whatuknow what not just abolish the 16th amendment? I mean if the Republicans like cutting taxes why not just get rid of the income tax? You want to see a boom that will do it. Heres why they dont though....because Republicans love big government just like the Democrats. They really are a two party crime family. I didnt see anything in the Republicans budget that cuts spending enough to even come close to justify tax cuts. Republicans are the pros of the sleight of hand they give tax breaks to look good but dont cut spending to pay for the cuts which is why we are now $11 trillion dollars in debt. So I say until I see some big cuts in spending we need to raise taxes because passing all this debt on to our kids is not moral and just not fair.



posted on Mar, 27 2009 @ 09:14 AM
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Originally posted by crmanager
reply to post by grover
 


AAAHHHHHAAAA!!!


Stop it stop it.

Taking from the rich to give to the poor solves NOTHING!

You can't make a person richer by making someone else poorer. Wealth is not a ZERO SUM GAME.

Rich people HIRE POOR PEOPLE. Poor people work for rich people.


When your running hundreds of billions deficits giving tax breaks to the rich solve nothing either now does it? Till the government that means both parties get off this notion of running the world empire, the police/nanny/welfare state here at home we need high taxes period. No one in government wants to cut the above so guess what we need to pay the price. Its not fair passing this on to our kids.....



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