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The tax cuts have been active for 10 years and next to the wars was the biggest cause to the economic collapse. Tax cuts for the rich was an epic failure and there is absolutely no reason to keep rewarding the wealthy when they didn't hold up their end of the deal by creating jobs and helping the economy.
Ooh please.. tax cuts dont cause economic collapses, they stopped one. They employed 10,200,000 individuals (per the BLS) over a 4 year period, they increased tax revenues, they doubled capital gains taxes paid by the rich, they helped prop up the poor by giving many of them a tax credit that they didnt have before..
For gods sakes cant you guys ever post facts and not your typical left wing bs? They have been active for 10 years, and 10 years ago the GOP had TOTAL control.. If the GOP didnt want the poor to have tax cuts/credits, they wouldnt have gotten them because it was the GOP that gave these to the poor..
democrats: i will sell you a bookshelf for $100
republicans: I will pay $0.
the problem is the negotiation should have gone like this:
democrats: i will sell you a bookshelf for $500
republicans: i will pay $0
democrats: i will sell you a bookshelf for $100
republicans: O.K.
in other words, the democrats needed to play politics too by starting from the position of NOT extending ANY of the TEMPORARY tax cuts.
The Democrats have been playing this politics for the last several years. They Didnt extend them for ANYONE, even when they had total control to do so. If Democrats wanted tax cuts for only the poor to continue, they should have passed them for only the poor when they had the chance. Rather than do so, they let them sit there and hoping they would expire thereby increasing taxes on everyone..
Yes people Democrats were hoping for tax increases even on the poor. If they werent, they had years to do something about it and didnt..
For gods sakes cant you guys ever post facts and not your typical right wing bs?
I couldn't agree more. The "tax cuts for all" with nothing but a sham and cover to give massive breaks to the right wing's cronies. Here's a chart that shows the current tax cuts, as well as what the democrats are proposing.
If you think the right was "helping the poor" with what? A whopping $52 a year?
The simplest analogy is this: You go out to dinner with 2 friends. You have significantly more than Friend A, who has significantly more than Friend B, who just lost their job.
Friend B goes to the bathroom. While he's in there, Friend A turns to you and says "Hey, Friend B is in a bit of a bind right now, we should cover his dinner". You agree to this. Friend B comes out and Friend A goes "Hey, since this is kind of your night, we're gonna buy you dinner".
Then the check comes out, and all of a sudden Friend A has alligator arms when it comes to reaching for his wallet. End result, not only are you on the hook for your dinner and Friend B's dinner, but you end up paying Friend A's dinner, as well.
I couldn't agree more. The "tax cuts for all" with nothing but a sham and cover to give massive breaks to the right wing's cronies. Here's a chart that shows the current tax cuts, as well as what the democrats are proposing.
If you think the right was "helping the poor" with what? A whopping $52 a year?
"The Poor" literally pay nothing in taxes. The bottom 50% of this country contributes a whopping ZERO via taxes. Heck, they pay less than 0, seeing as how they end up getting paid to just be here. And spare me the counterargument about "Well they pay sales tax!", because that's not what we're talking about.
They will, unemployment benefits will be tied to it, and they'll pass both.
Now, I don't see a reason why we shouldn't repeal the tax cuts for those making a million dollars a year, but thats just my opinion. Tax cuts for 95% of Americans should continue, at the least.
Ooh please.. tax cuts dont cause economic collapses, they stopped one. They employed 10,200,000 individuals (per the BLS) over a 4 year period, they increased tax revenues, they doubled capital gains taxes paid by the rich, they helped prop up the poor by giving many of them a tax credit that they didnt have before..
For gods sakes cant you guys ever post facts and not your typical left wing bs? They have been active for 10 years, and 10 years ago the GOP had TOTAL control.. If the GOP didnt want the poor to have tax cuts/credits, they wouldnt have gotten them because it was the GOP that gave these to the poor..
They will, unemployment benefits will be tied to it, and they'll pass both.
Republicans just shot down unemployment benefits.
Quote:
Originally Posted by Memphis1979
Now, I don't see a reason why we shouldn't repeal the tax cuts for those making a million dollars a year, but thats just my opinion. Tax cuts for 95% of Americans should continue, at the least.
I agree and this is what Obama is proposing. He actually wants to make the tax cuts permanent for 98% of americans, those making under $250,000 a year. Even Pelosi's plan is to extend them for those making under a million a year, otherwise 99.5% of all americans but republicans don't want that, only tax cuts for the richest of the rich.
Ooh please.. tax cuts dont cause economic collapses, they stopped one. They employed 10,200,000 individuals (per the BLS) over a 4 year period, they increased tax revenues, they doubled capital gains taxes paid by the rich, they helped prop up the poor by giving many of them a tax credit that they didnt have before..
For gods sakes cant you guys ever post facts ......
Between May 1999 and May 2009, employment in the private sector sector only rose by 1.1%, by far the lowest 10-year increase in the post-depression period. It’s impossible to overstate how bad this is. Basically speaking, the private sector job machine has almost completely stalled over the past ten years.
In 2007, the share of after-tax income going to the top 1 percent hit its highest level (17.1 percent) since 1979, while the share going to the middle one-fifth of Americans shrank to its lowest level during this period (14.1 percent).
Between 1979 and 2007, average after-tax incomes for the top 1 percent rose by 281 percent after adjusting for inflation — an increase in income of $973,100 per household — compared to increases of 25 percent ($11,200 per household) for the middle fifth of households and 16 percent ($2,400 per household) for the bottom fifth.
In 1981, Congress approved very large supply-side tax cuts, dramatically lowering marginal income-tax rates. In 1990 and 1993, by contrast, Congress raised marginal income-tax rates on the well off. Despite the very different tax policies followed during these two decades, there was virtually no difference in real per-person economic growth in the 1980s and 1990s. Real per-person revenues, however, grew about twice as quickly in the 1990s, when taxes were increased, as in the 1980s, when taxes were cut.
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