Eliminating Bush Tax Cuts Would Barely Cover October Deficit

Originally posted by Thepump

Originally posted by camaro68ss

Originally posted by spinalremain
reply to post by camaro68ss

 

The wealthy pay 30%

Now I do not have to pay 35%

Now I can afford to better educate my son and buy more groceries.

The wealthy entitlements have not created jobs. It's been proven non effective. No more debate is even necessary.

um.... top tax braket right now is 35%

if your middle class your tax braket is at 25% or 28% depending on your income. they already pay more then you.

Using your logic, lower the riches tax braket and they too can now buy more groceries and goods..or are they too rich and it doesnt work that way?

edit on 15-11-2012 by camaro68ss because: (no reason given)

Most top 5% hire good lawyers and accounts and get their liability reduced down to around 15-18%

Really? You fall for that? So H&R block and all types of tax accountants that do taxes for a living don't know about the rich only loop holes. Hahaha your kidding right?

reply to post by spinalremain


Actually the Bush taxes for the rich was not for the rich only it was for the entire working class also, now the biggest propaganda is that the rich benefited from them more than the working class, that is absolutly true but is because they make more than the working class.

If the Bush era tax cuts expire without a compromise we all will pay more no only the rich but the working class also.

Now remember what the Supreme court said, mandate can only be passed as a tax on the healthcare reform, well who do you think is going to be targeted the most with those extra taxes that will come bundle with Obamacare, is not the rich ( the rich will careless as they actually can pay into a higher tax as loopholes will always be there for them), but the ones that will be targeted the most under that reform, the working class.

Originally posted by longlostbrother

Are YOU claiming the US governement adds 120B a month to the deficit?

Because I'd love to see your source for that insane claim.

As for the 9 years, that's a TOTAL cost, of the tax cuts, to date, You can easily see what it is per year, and I gave you the projected savings over the next decade if the top 5% lost their tax cuts. If you forgot, it's 4x+ the current national deficit.

And to all the ideologues who go around adding stars to nonsensical erroneous posts, because someone is disagreeing with me, you remind me of one of your fellow Republican, David Frum, who said the GOP isn't a party of leaders, but followers.... no kidding. Starring an incorrect post makes your side look extremely shallow, stupid and petty.

"It may not be accurate, but I like the fact he's attacking that there liberal"...

It's gonna be a long, cold winter for the right in America.

Yes I am indeed saying that 120 billion is one months deficit - and Yes it is most certainly INSANE.

Go here Treasury Debt by Date Range

That is the US treasury departments website - Enter any date range you want and you will see the debt issued in that time period. The Debt issued is not exactly the same as the deficit run, as it is issued after the fact - but it is pretty darn close. If you run 10/1/12 to 10/31/12 you will see 102 billion of debt added in that time period.

I guess if you had actually looked at figures instead of your left wing propaganda claiming we can hand out cash without ever worrying about running out you might have realized this is a real huge problem.