U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-04-2010, 06:43 AM
 
Location: Great State of Texas
86,093 posts, read 72,525,560 times
Reputation: 27566

Advertisements

Quote:
Originally Posted by florida.bob View Post
His objective has always been to make the tax cuts permanent to the 95% of Americans that need it and will help create jobs. So that those that do not have a job, may be able to find one. And those that do have a job, will be better able to cope the pressures of living.
Extending those cuts will not give people any MORE money than they have today. I don't see how it will stimulate when you start taxing the people that actually create the jobs (business owners).
Reply With Quote Quick reply to this message

 
Old 08-04-2010, 06:45 AM
 
Location: Florida
63,078 posts, read 34,350,819 times
Reputation: 10477
Quote:
Originally Posted by Gary Siete View Post
Why we should let the Bush tax cuts expire - CSMonitor.com

Although Wall Street’s excesses were the proximate cause of the Great Recession, its fundamental cause lay in the nation’s widening inequality.... Extending the Bush tax cuts for the richest Americans would widen that gap further....

George W. Bush’s 2001 tax cut was a huge windfall for the wealthy...
...it makes sense to preserve the Bush tax cuts at least through 2011 for the middle class.... but the same logic doesn’t apply to people at the top, earning over $250K, who represent roughly 2 percent of tax filers. Restoring their marginal tax rates to what they were during the Clinton administration (36 and 39 percent) won’t inhibit their spending.... But restoring those top marginal tax rates will help bring down the long-term debt...

For many years, most of the gains of economic growth in America have been going to the top – leaving the nation’s vast middle class with a shrinking portion of total income.... the only way most Americans could continue to buy most of what they produced was by borrowing. But now that the debt bubble has burst – as it inevitably would – the underlying problem has reemerged.

Robert Reich
Robert is Professor of Public Policy at the University of California at Berkeley.
(attribution included so you can attack the messenger not the message)
There are two trillion reasons to let is expire. Extending it would increase the national debt by 2 trillion in 10 years.

I feel differently about the corporate tax though. I believe cutting corp tax would generate more tax revenue and stimulate the economy.
Reply With Quote Quick reply to this message
 
Old 08-04-2010, 06:53 AM
C.C
 
2,235 posts, read 2,069,936 times
Reputation: 461
Quote:
Originally Posted by Finn_Jarber View Post
There are two trillion reasons to let is expire. Extending it would increase the national debt by 2 trillion in 10 years.
Absolutely - and let me be the first to assure everyone that BHO would never consider spending any of that "extra" $2T!
Reply With Quote Quick reply to this message
 
Old 08-04-2010, 07:00 AM
 
783 posts, read 706,867 times
Reputation: 243
Quote:
Originally Posted by Gary Siete View Post
Why we should let the Bush tax cuts expire - CSMonitor.com

Although Wall Street’s excesses were the proximate cause of the Great Recession, its fundamental cause lay in the nation’s widening inequality.... Extending the Bush tax cuts for the richest Americans would widen that gap further....

George W. Bush’s 2001 tax cut was a huge windfall for the wealthy...
...it makes sense to preserve the Bush tax cuts at least through 2011 for the middle class.... but the same logic doesn’t apply to people at the top, earning over $250K, who represent roughly 2 percent of tax filers. Restoring their marginal tax rates to what they were during the Clinton administration (36 and 39 percent) won’t inhibit their spending.... But restoring those top marginal tax rates will help bring down the long-term debt...

For many years, most of the gains of economic growth in America have been going to the top – leaving the nation’s vast middle class with a shrinking portion of total income.... the only way most Americans could continue to buy most of what they produced was by borrowing. But now that the debt bubble has burst – as it inevitably would – the underlying problem has reemerged.

Robert Reich
Robert is Professor of Public Policy at the University of California at Berkeley.
(attribution included so you can attack the messenger not the message)
The tax cuts that goes to the two with highest incomes should expire those tax cuts are simply unaffordable
if congress make the bush tax cuts for the two highest income bracket permanent the deficit will be about on one trillion dollar higher over the next decade than if they let them largly let them expire.
Reply With Quote Quick reply to this message
 
Old 08-04-2010, 07:30 AM
 
Location: Florida
63,078 posts, read 34,350,819 times
Reputation: 10477
Quote:
Originally Posted by C.C View Post
Absolutely - and let me be the first to assure everyone that BHO would never consider spending any of that "extra" $2T!
Presidents do not spend money, the Congress does.

Form what I have read spending cuts, especially to the military, are already being discussed.
Reply With Quote Quick reply to this message
 
Old 08-04-2010, 07:34 AM
 
Location: Fort Worth Texas
12,482 posts, read 8,839,940 times
Reputation: 2527
Quote:
Originally Posted by Finn_Jarber View Post
Presidents do not spend money, the Congress does.

Form what I have read spending cuts, especially to the military, are already being discussed.
letting the tax cuts expire will also allow us to tax dead people more. We c have already taxed their money so we might as well tax that money again when their dead. Shoot dead people cant vote in most states
Reply With Quote Quick reply to this message
 
Old 08-04-2010, 07:35 AM
 
85 posts, read 71,128 times
Reputation: 35
if they let the cuts/credit expire, it will hurt the poor and middleclass

instantly the lowerst bracket will jump from 10% to 15%

THE KIDS care, CHILD, Energy (insulation, energystar), 401k/retirement fund, education, and health care costs CREDITS that ONLY are allowed for those under 150k will all go away


th

why is it the liberals always want to hurt the little guy, why is it the liberals always lie about the cuts/credits being only for the rich
Reply With Quote Quick reply to this message
 
Old 08-04-2010, 07:36 AM
 
Location: Raleigh, NC
20,017 posts, read 15,731,472 times
Reputation: 3745
Quote:
Originally Posted by florida.bob View Post
I suspect there will be legislation put forward to make the cuts permanent for the lower income levels, before the Nov elections. Passing that legislation may or may not be accomplished by then, but either way, it will become part of the election choice, that the American people will have to make.
There's no evidence of such a measure being proposed. I suspect that you're saying what you want yourself to hear.
Reply With Quote Quick reply to this message
 
Old 08-04-2010, 07:40 AM
 
Location: Tampa Florida
22,241 posts, read 15,314,837 times
Reputation: 4583
Quote:
Originally Posted by summers73 View Post
There's no evidence of such a measure being proposed. I suspect that you're saying what you want yourself to hear.
In the Gibbs press meeting yesterday, he reiterated the Presidents intentions to make those cuts permanent. Obviously, he cannot do that without Congress, but you are fooling yourself, if you do not think that will be presented.
Reply With Quote Quick reply to this message
 
Old 08-04-2010, 07:40 AM
 
Location: Florida
63,078 posts, read 34,350,819 times
Reputation: 10477
Quote:
Originally Posted by wjtwet View Post
letting the tax cuts expire will also allow us to tax dead people more. We c have already taxed their money so we might as well tax that money again when their dead. Shoot dead people cant vote in most states
It will go back to whatever it was before. The cuts were designed to be temporary, and now they are expiring. Wasn't that the intent of putting in the expiration date? Maybe you should have opposed Bush for putting in the expiration date.

Which do you prefer: the cuts or lower debt? You can't have both. If we keep the cuts, someone in the future will have to pay for them.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top