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The Economic Freedom Act of 2010 -- introduced by Reps. Jim Jordan (R-Ohio) and Jason Chaffetz (R-Utah) -- proposes deep tax cuts favoring the wealthiest in America, a reduction in regulatory oversight and the elimination of a federal tax on the estates of millionaires, which will allow wealthy investors to escape taxes entirely on a significant portion of their income.
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"The tax cuts they want to give, as usual under Republican policies, will give 62 percent of the tax cuts to the top 1 percent of Americans," Hoyer said.
"Or said another way, an average $467 tax cut to working Americans in the middle of the income levels, and to the top 1 percent earners, an average of $157,000 tax cut,
Wrong... The tax expiration would go from 36% to 39%... Oh my god...
Thats odd because the Obama tax cut on the poor was less than this, but you guys suggested it was going to bail us out of the recession.. Now its no big deal... What % of YOUR income do you pay in taxes? I bet you are one of those posters that dont pay a dime...
"The tax cuts they want to give, as usual under Republican policies, will give 62 percent of the tax cuts to the top 1 percent of Americans," Hoyer said.
"Or said another way, an average $467 tax cut to working Americans in the middle of the income levels, and to the top 1 percent earners, an average of $157,000 tax cut,
and to Goldman Sachs, $2.6 billion in tax cuts.
Been proven wrong before. Stop posting the same old bs in 10 different links...
Quote:
Originally Posted by HC475
Wrong... loans that should never have been made in the first place... Lack of bank regulation... Bush encouraged home ownership...
Ooh jesus.. give it a break.. The fact that the banks shouldnt have been loaned in the first place is because the FEDERAL GOVERNMENT (i.e. CONGRESS) created programs to stimulate home ownership. And when they couldnt entice enough people to buy homes, Fannie/Freddie lowered the standards.. Bush had NOTHING to do with it nor was it a lack of banking regulations. Banks were complying with FEDERAL standards put into place well before Bush was..
Wrong... loans that should never have been made in the first place... Lack of bank regulation... Bush encouraged home ownership...
i wont argue the fact that the loans should never have been made, but it wasnt bush pushing them it was the democrats like barney "there is nothing wrong with fannie and freddie" frank, and chris "i got my deal through country wide" dodd. bush tried several times to rein in the sub prime market but the democrats blocked his efforts.
i wont argue the fact that the loans should never have been made, but it wasnt bush pushing them it was the democrats like barney "there is nothing wrong with fannie and freddie" frank, and chris "i got my deal through country wide" dodd. bush tried several times to rein in the sub prime market but the democrats blocked his efforts.
These are the SAME people writing financial reform bills, healthcare bills, credit card legislation bills.. What on gods earth makes one think they got all of these right but they didnt see the housing bubble that was staring everyone right in the face?
These are the SAME people writing financial reform bills, healthcare bills, credit card legislation bills.. What on gods earth makes one think they got all of these right but they didnt see the housing bubble that was staring everyone right in the face?
Again... Nice try... Barney Frank video is from 2005... The housing "Bubble" didn't become obvious until 2006-2007...
Wrong... The tax expiration would go from 36% to 39%... Oh my god...
Whoops! You may want to read this:
Quote:
The current six rate brackets of 10%, 15%, 25%, 28%, 33% and 35% will be replaced by five new brackets with the higher rates of 15%, 28%, 31%, 36% and 39.6%.
So let's see,
10% bracket will be eliminated &/or combined with the 15% bracket. Either way, you're paying more thanks to our elected officials deciding NOT to extend the tax cuts thereby raising everyone's taxes. See, they are deciding not to extend them, which is akin to passing a tax hike. But, if it makes you sleep better at night thinking that your beloved democrats have your best interest at heart and would never raise your taxes on you, by all means continue to keep your head in the sand.
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