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Old 01-27-2012, 08:12 PM
 
16,773 posts, read 9,113,254 times
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Quote:
Originally Posted by walidm View Post

“Spending cuts are the same thing as a tax increase.” -- Treasury Secretary Timothy Geithner

UNDERSTANDING THE MODERN MONETARY SYSTEM | PRAGMATIC CAPITALISM
You probably aren't interested in the exact context of your quote, because it doesn't fit in with how your propaganda-website is using it, but....

When Geithner said "Spending cuts are the same thing as a tax increase" he was on Face the Nation and was specifically talking about how Spending Cuts to Medicare would force Seniors to pay a higher percentage out of pocket for their medical expenses and therefore be similar to a tax solely directed at Seniors. It was meant to scare Seniors into not wanting to hear of any spending cuts.
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Old 01-27-2012, 08:13 PM
 
Location: Charlotte
12,646 posts, read 13,917,932 times
Reputation: 1679
Thumbs down yawn...

Quote:
Originally Posted by michiganmoon View Post
You probably aren't interested in the exact context of your quote, because it doesn't fit in with how your propaganda-website is using it, but....

When Geithner said "Spending cuts are the same thing as a tax increase" he was on Face the Nation and was specifically talking about how Spending Cuts to Medicare would force Seniors to pay more medical expenses and therefore be similar to a tax solely on Seniors.
Provide the data.
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Old 01-27-2012, 08:19 PM
 
16,773 posts, read 9,113,254 times
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Nearly half of U.S. households escape federal income tax - USATODAY.com

"The bottom 40%, on average, make a profit from the federal income tax system, meaning they get more money in tax credits than they would otherwise owe in taxes. For those people, the government sends them a payment."

"About 47% will pay no federal income taxes for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization."

Media Myth Debunked: 97 Percent of Americans Pay Less Tax Than Romney's 15 Percent | NewsBusters.org

97% of Americans have a net effective tax rate of less than 15%.
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Old 01-27-2012, 08:20 PM
 
16,773 posts, read 9,113,254 times
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Quote:
Originally Posted by walidm View Post
Provide the data.
A liberal talking about the real meaning of Geithner's quote...not the fantasy meaning by your pure propaganda website: Mike Norman Economics: Geithner calls spending cuts what they really are: tax increases
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Old 01-27-2012, 08:21 PM
 
2,944 posts, read 3,006,114 times
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Quote:
Originally Posted by gysmo View Post
you are right, and to see well educated news people spew this kind of lie is behond believe. do they think Americans are that ignorant. someone should put A STOP TO THAT KIND OF NEWS reporting. its propaganda nothing less!!!
I'm sorry to say, but American is that ignorant.

Most American probably remember their idol or sport hero's birthday but cannot remember their spouse or their children's birthday.
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Old 01-27-2012, 08:21 PM
 
Location: Hinckley Ohio
6,722 posts, read 4,430,527 times
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The 13.9% effective tax rate that the Romneys paid in 2010, measured against their adjusted gross income, includes all payroll taxes (fica), technically, in their case, self-employment taxes, to which they were subject.

If you are going to compare the rate mittens paid to the rest of America, it would be appropriate to compare the same taxes.

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Old 01-27-2012, 08:25 PM
 
16,773 posts, read 9,113,254 times
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Quote:
Originally Posted by buzzards27 View Post
The 13.9% effective tax rate that the Romneys paid in 2010, measured against their adjusted gross income, includes all payroll taxes (fica), technically, in their case, self-employment taxes, to which they were subject.

If you are going to compare the rate mittens paid to the rest of America, it would be appropriate to compare the same taxes.
So you are now changing the topic. The topic is the media is distorting when they say that Romney pays less in federal income taxes.

Federal Income Taxes goes to the government. Social Security goes to eventually pay for your personal retirement.

So if we switch gears, are you suggesting that people and their employers shouldn't help pay for their own retirement (social security)? Should we hold it against someone's tax rate if they are no longer employed and no longer pay into social security, because they made it and don't need social security?
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Old 01-27-2012, 08:28 PM
 
Location: Charlotte
12,646 posts, read 13,917,932 times
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Lightbulb lol....

Quote:
Originally Posted by michiganmoon View Post
A liberal talking about the real meaning of Geithner's quote...not the fantasy meaning by your pure propaganda website: Mike Norman Economics: Geithner calls spending cuts what they really are: tax increases
Spending cuts are the same thing as a tax increase.

Umm...I think I told another poster this a few posts ago. Still getting the hang of this?

You're very obsessed with your ideology. I don't care that you're a liberal, that's your issue.
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Old 01-27-2012, 08:30 PM
 
16,773 posts, read 9,113,254 times
Reputation: 6794
Quote:
Originally Posted by walidm View Post
Spending cuts are the same thing as a tax increase.

Umm...I think I told another poster this a few posts ago. Still getting the hang of this?

You're very obsessed with your ideology. I don't care that you're a liberal, that's your issue.
I wish you knew how to read. YOUR propaganda website that you cited, pragcap.com, was misusing that quote out of context.
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Old 01-27-2012, 08:34 PM
 
Location: Charlotte
12,646 posts, read 13,917,932 times
Reputation: 1679
Default uh huh...

Quote:
Originally Posted by michiganmoon View Post
I wish you knew how to read. YOUR propaganda website that you cited, pragcap.com, was misusing that quote out of context.
lol...Sure he was.

I don't care what you wish.

Quote:
Romney's tax rate is below that of most wage-earning Americans because most of his income, as outlined in more than 500 pages of tax documents, flows from capital gains on investments.
Mitt Romney Tax Returns Released: Paid Just 13.9% Rate In 2010, Had Swiss Bank Account
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