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Old 08-04-2010, 07:45 AM
 
85 posts, read 71,159 times
Reputation: 35

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Quote:
Originally Posted by florida.bob View Post
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.
AND???


gibbs is a press secretary

geithner...obamas CABINATE LEVEL Sec of the Treasury, said yesterday the cuts/credits will and need to expire


seems the obama admins speak with forked tongue
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Old 08-04-2010, 07:46 AM
 
85 posts, read 71,159 times
Reputation: 35
Quote:
Originally Posted by Finn_Jarber View Post
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.

not if we cut the budget instead of continuasly expanding it






on a personal level, I say let the cuts (rates) expire. but make the credits (which are for households under 150k) permanent
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Old 08-04-2010, 07:50 AM
C.C
 
2,235 posts, read 2,070,907 times
Reputation: 461
Quote:
Originally Posted by Finn_Jarber View Post
Presidents do not spend money, the Congress does.
Oh, that's right, I forgot - BHO didn't want to spend trillions on bailouts and HCR, that mean, nasty Congress made him do it. After he signed them, Rahm explained to him how vetoes work and they all had a good laugh.

Quote:
Originally Posted by Finn_Jarber View Post
Form what I have read spending cuts, especially to the military, are already being discussed.
Right - and we have trillion dollar deficits projected for the next decade, based on the assumption that all the tax cuts expire.
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Old 08-04-2010, 07:50 AM
 
Location: Southeast
4,296 posts, read 6,275,229 times
Reputation: 1445
Interesting that the same people who have bent over backwards the past few years to criticize the tax cuts are now so eager to maintain the lowest rates to score political points. A principled individual would be against extending all the tax cuts. To extend the Bush tax cuts for the lower rungs is to confirm that the tax cuts were a positive thing to begin with.
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Old 08-04-2010, 07:54 AM
 
Location: Florida
63,104 posts, read 34,377,687 times
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Quote:
Right - and we have trillion dollar deficits projected for the next decade, based on the assumption that all the tax cuts expire
Whatever the figure is, it will be 2 trillion larger if we keep the cuts. If you are unhappy about 1 trillion increase, then why would you want to push for an additional 2 trillion?
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Old 08-04-2010, 08:02 AM
C.C
 
2,235 posts, read 2,070,907 times
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Quote:
Originally Posted by Finn_Jarber View Post
Whatever the figure is, it will be 2 trillion larger if we keep the cuts. If you are unhappy about 1 trillion increase, then why would you want to push for an additional 2 trillion?
Absolutely disagree. Debt/deficits will be whatever the ceiling of public tolerance is. To think they will spend less than that limit is a pipe dream.
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Old 08-04-2010, 08:04 AM
 
85 posts, read 71,159 times
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Quote:
Originally Posted by Finn_Jarber View Post
Whatever the figure is, it will be 2 trillion larger if we keep the cuts. If you are unhappy about 1 trillion increase, then why would you want to push for an additional 2 trillion?
tax receipts are down, because people are out of work and not earning money to be taxed.....do you think that letting the cuts expire, which will make more jobs go away, is really a smart thing?????
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Old 08-04-2010, 08:07 AM
 
Location: Wisconsin
20,368 posts, read 13,891,264 times
Reputation: 5239
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...
3%? Really? The health of the nation, the debt, the deficit all hinge on resending the 3% tax break?

Who decided the top earners needed to pay 36% in the first place, while other Americans only pay 15-25%?

I think government needs to cut the federal budget, by getting rid of non-essential government spending until they reduce it by 25%, and then balance the budget.
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Old 08-04-2010, 08:07 AM
 
Location: Jewel Lake (Sagle) Idaho
27,591 posts, read 17,670,207 times
Reputation: 15677
I don't understand why the Bush tax cuts are referred to as only helping the rich. If the Bush tax cuts expire, per the link Chiligirl posted, a married couple making $20,000 per year will see a 435% tax increase, at $40,000, they see a 49% increase, yet that same couple making $500k only sees a 14.5% increase. Yet the lefties continue to lie and say the tax increase anticipated with the expiration of the Bush tax cuts will only impact the rich...and they aren't called on it. And most of the public is too lazy to research the truth.
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Old 08-04-2010, 08:09 AM
 
Location: Long Beach
2,348 posts, read 2,427,295 times
Reputation: 909
Keeping all the tax cuts in place, would add about $4 trillion to the defict....the Repugs response...more tax cuts. They don't even believe or think they should be paid for. You can't cut taxes like Bush did, then grossly increasely the the size of the federal government.

If you think tax cuts work....you're an idiot.

One wonders if the repugs know what they're doing, or if they even care about this country.

Truth be told, the tax rate would just go back to the Clinton era, remember the 90's...we were a very happy country, we all money and jobs, and our biggest national crisis was who Clinton was screwing that week.
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