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We have to do something. This country is BROKE and no matter how much you tax the rich, it won't bridge the spending gap. Everyone is going to have to have some skin in the game if we're going to fix our debt crisis, otherwise we can just plug our ears and keep kicking the can down the road until there's no road left...
I agree.
Congress, et al. need to make the hard decisions, stop focusing on things that are .001% of the budget, and go for the money-suckers. Go for the government waste.
Unfortunately the attitude there is "Not in my back yard" cutting the budget is fine until it affects you.
CUTTING taxes cuts revenue, you need to make it up somewhere, and his "tax plan" isn't going to cut the deficit, it's going to cut deductions--just to PAY for it. Bush's unfunded tax cuts are still contributing to the deficit--it has for the past 12 years. But try to end them and hear the screaming.
Do you understand that if his tax plan is passed, you will lose part of your Mortgage, Child Care, Student Loan, etc. deductions?
In his statement about his tax plan, he mentioned that you will put those deductions in a bucket with a dollar cap on it.
As a Realtor, I was concerned about the mention of eliminating mortgage interest deductions. So I looked it up, specifically as this was discussed under Simpson-Bowles:
This suggests there will be less of a downside, but not zero, to the second approach proposed by Simpson-Bowles, which eliminates the deductions for 2nd mortgages, home equity mortgages, and mortgages over $500,000.
Romney repeatedly mentioned closing the tax loop-holes for those making "over $200,000". So trying to scare middle class homeowners who are able to deduct mortgage interest is simply a Dem scare tactic that is a bold faced lie.
Do you understand that if his tax plan is passed, you will lose part of your Mortgage, Child Care, Student Loan, etc. deductions?
In his statement about his tax plan, he mentioned that you will put those deductions in a bucket with a dollar cap on it.
What I understand is that if Mr. Obama is re-elected, life will continue to suck. I know what Mr. Obama said he would do. And I know what has happened. And I know the full list of things Mr. Obama has blamed is personal failure on.
I know that i do not want more of what we have seen for the last 4 years. Time to move on.
Remember folks, unfunded tax cuts add to the deficit
Wrong. It's unfunded spending that adds to the deficit. Until you and others that think like you figure that out, we're screwed. As long as you're willing to give more of other people's money away, they're going to require more than is already being taken. It will not stop. Ever. Spending MUST be controlled before any meaningful discussion about adjusting tax rates can be had.
As a Realtor, I was concerned about the mention of eliminating mortgage interest deductions. So I looked it up, specifically as this was discussed under Simpson-Bowles:
Romney repeatedly mentioned closing the tax loop-holes for those making "over $200,000". So trying to scare middle class homeowners who are able to deduct mortgage interest is simply a Dem scare tactic that is a bold faced lie.
No, if you listened to his debate answer last night, he is going to put a dollar cap on deductions. He threw out $25K as an example, but I'm thinking the cap will be a percentage of your taxable income. His words, not mine.
Wrong. It's unfunded spending that adds to the deficit. Until you and others that think like you figure that out, we're screwed. As long as you're willing to give more of other people's money away, they're going to require more than is already being taken. It will not stop. Ever. Spending MUST be controlled before any meaningful discussion about adjusting tax rates can be had.
And unfunded tax cuts add to the deficit. Get real.
last time i looked Mr. Bush was here in Dallas playing golf. He is not the president.
Mr. Obama said he would cut the deficit in half. insteat he did the opposite. It is now 1.5 times larger than it was when he took office.
Mr. Obama said he would have the unemployment rate drastically lower than it is.
Mr. Obama promised massive green jobs. He has spent BILLIONS on green companies that have failed leaving the federal government (read you and me) with the bill.
Mr. Obama claims that 5 million new jobs in 4 years is great! that doesnt even begin to keep up with the increases in the number of people coming into the job market. FAIL.
The fact is, there are fewer jobs in America today than there were when he took office.
There are more workers today than when he took office.
There are more people on welfare
More people on Food stamps
More people on unemployment
More people out of work looking for work
More people who have given up looking for work.
You could blame Mr. Bush, if the current president had not told us, if we did what he wanted things would change. HE TOLD US HE COULD FIX IT. He failed.
How is it a lie if Romney doesn't clarify matters?
Again, his silence is deafening.
I an only speculate that the reason for the silence is that the middle class isn't going to like his proposal.
His "silence" is actually an acknowledgment that the President doesn't get to write the tax policy of the country, and that e understands he will be working with and making recommendations to, Congress on the issue. In the first debate, he did say,
Quote:
I want to bring down the tax burden on middle-income families. And I'm going to work together with Congress to say, OK, what -- what are the various ways we could bring down deductions, for instance? One way, for instance, would be to have a single number. Make up a number, $25,000, $50,000. Anybody can have deductions up to that amount. And then that number disappears for high-income people. That's one way one could do it. One could follow Bowles-Simpson as a model and take deduction by deduction and make differences that way. There are alternatives to accomplish the objective I have, which is to bring down rates, broaden the base, simplify the code, and create incentives for growth.
Congress, et al. need to make the hard decisions, stop focusing on things that are .001% of the budget, and go for the money-suckers. Go for the government waste.
Unfortunately the attitude there is "Not in my back yard" cutting the budget is fine until it affects you.
CUTTING taxes cuts revenue, you need to make it up somewhere, and his "tax plan" isn't going to cut the deficit, it's going to cut deductions--just to PAY for it. Bush's unfunded tax cuts are still contributing to the deficit--it has for the past 12 years. But try to end them and hear the screaming.
Correct, EVERYONE has to have skin in the game. As I mentioned before, most prominent business leaders have said that revenue has to be part of the equation.
Quote:
Originally Posted by swagger
Wrong. It's unfunded spending that adds to the deficit. Until you and others that think like you figure that out, we're screwed. As long as you're willing to give more of other people's money away, they're going to require more than is already being taken. It will not stop. Ever. Spending MUST be controlled before any meaningful discussion about adjusting tax rates can be had.
Quote:
Originally Posted by carterstamp
And unfunded tax cuts add to the deficit. Get real.
Correct, unfunded tax cuts and spending add to the deficit.
Romney will not release details because LOBBYISTS will be all over his ass if he does, plain and simple. Everyone has to give a little, retirement age needs to bump up a year, the base wage for ss tax needs to rise. It is crazy that if someone makes 160,000 and the spouse stays at home, they are only taxed on $110,100 for soc sec taxes. BUT, if a husband and wife each work, and make 80k each, they are taxed 100% on their wages for soc sec tax, thats not fair. I would be negatively impacted on the entire wage being taxed, but we have to start somewhere...And yes, seniors are going to have pay more for medicare, cost of living increases have to be cut, food stamps cut and defense spending cut, etc, etc...
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