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I don't believe anyone is proposing raising taxes on the middle class. Certainly not Romney...his plan includes cuts in tax rates for everyone and eliminating some deductions, with more deductions being eliminated for the top 1% than anyone else. His plan could result in tax increases for some of the lower class, but not the middle class.
I haven't looked at the Ryan plan in great detail but, minimally, it does not call for increasing tax rates on the middle class.
You don't believe anyone is proposing raising taxes on the middle class? Then you haven't read the Ryan Budget, which would raise taxes for 95% of Americans while lowering it for the top 5%.
1 in 7 US mfg jobs are for exports, and that sector is up double digits this decade. Not everything is toy making-there are areas where we have an edge manufacturing globally. There are Southeastern RTW mfg plants I personally have experience with which would have been CLOSED w/o their thriving export markets.
Good points.
We make lots of stuff that the rest of the world wants.
Again, SPENDING, investing into a business, one way to avoid taxation. Raising the tax rate would encourage me to shelter, invest, to avoid taxation. Lower the tax rate and you encourage businessmen to reap their profits INSTEAD of investing. Every time tax rates are lowered there is a short spurt of higher tax revenues because of people taking there profits and cashing out.
This is how things were done during the 70-90% tax era.
Either that or they would donate majority of it to charitable organizations. But they wouldn't hoard it.
There was an interview from the late 70s where Colonel Sanders discussed how he avoided the high tax rates.
The last 10-years have had the lowest tax-rates in a 80 years
Gee, I wonder why that would be?
Quote:
Originally Posted by MTAtech
and also the worst economic growth.
Say it with me now.
G-L-O-B-A-L-I-Z-A-T-I-O-N
Quote:
Originally Posted by MTAtech
Back then, rich people didn't seem to need tax-cuts to invest their money.
Well of course they didn't care back then because they wouldn't be rushing off to nonexistent emerging markets.
Ohh, that's right. Most of the rest of the world was in shambles after World War II.
Now? They have to rush off to those emerging markets to keep growing so they don't become stagnant and get bought out or taken over.
It's now very clear that you don't seem to understand and notice that as globalization picked up rapidly tax rates fell just as rapidly, and for good reason.
You do want American companies to be able to compete don't you because I have to say if we continue on with your logic it doesn't seem that that's what your goal is.
Last edited by CaseyB; 05-06-2012 at 01:24 PM..
Reason: rude
The last 10-years have had the lowest tax-rates in a 80 years and also the worst economic growth. The periods where tax-rates were high had also the highest economic growth. Back then, rich people didn't seem to need tax-cuts to invest their money.
First, dotcom investment and tangible investment are different worlds.
2nd the mistake we made the last 10 plus years is cap gains if it was previously existing equity should be taxed as ordinary income, while IPO gains should be tax free. Trades of stock do nothing for scoiety; IPOs rock.
Well of course they didn't care back then because they wouldn't be rushing off to nonexistent emerging markets.
Ohh, that's right. Most of the rest of the world was in shambles after World War II.
Now? They have to rush off to those emerging markets to keep growing so they don't become stagnant and get bought out or taken over.
It's now very clear that you don't seem to understand and notice that as globalization picked up rapidly tax rates fell just as rapidly, and for good reason.
You do want American companies to be able to compete don't you because I have to say if we continue on with your logic it doesn't seem that that's what your goal is.
I wasn't referring to right after WWIi. I was referring to the 1970s, 1980s and 1990s, when capital gains rates were 39.9%, more than twice today's rate.
If you are trying to argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000, when taxes were higher. You know what’s happened since then: lower tax rates and far lower job creation.
Moreover, nobody can serious think that investors that own stock index futures for 10 minutes should have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.
I wasn't referring to right after WWIi. I was referring to the 1970s, 1980s and 1990s, when capital gains rates were 39.9%, more than twice today's rate.
If you are trying to argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000, when taxes were higher. You know what’s happened since then.
since than dot com bust and Y2K went away as job creation one-time forces.
Obama doesn't effect how the BLS computes data. The BLS is made up of professionals that have a mathematical formula that hasn't changed during Obama's presidency. To suggest that the Administration has been cooking the numbers is silly.
But even at plus 115,000 and the other revisions (The change in total nonfarm payroll employment for February was revised from +240,000 to +259,000, and the change for March was revised from +120,000 to +154,000,)it's sure better than the Europeans, who have embraced austerity -- exactly what the GOP wanted here.
Clearly you don't know how Washington works. Ever heard of political appointees? Of course you have. But you choose to ignore these tidbits because they throw a monkey wrench into your Obama Can Do No Wrong™ message.
Let me introduce you to the BLS political appointee...the acting Commissioner....you know...that guy who works for the President:
He wouldn't be "political appointee" if he wasn't hired to carry the President's water. Do you know what "political" means? More importantly, do you know who he ultimately answers to?
To suggest that politics aren't at play here shows an astounding amount of naivete on your part. In your world, it's all about charts and graphs and any other inane graphic you can produce to defend Dear Leader. Fortunately for us, that's where fantasy ends and the real world begins.
Clearly you don't know how Washington works. Ever heard of political appointees? Of course you have. But you choose to ignore these tidbits because they throw a monkey wrench into your Obama Can Do No Wrongâ„¢ message.
Let me introduce you to the BLS political appointee...the acting Commissioner....you know...that guy who works for the President:
He wouldn't be "political appointee" if he wasn't hired to carry the President's water. Do you know what "political" means? More importantly, do you know who he ultimately answers to?
To suggest that politics aren't at play here shows an astounding amount of naivete on your part. In your world, it's all about charts and graphs and any other inane graphic you can produce to defend Dear Leader. That's where fantasy ends and the real world begins.
You better just come out and tell him... Otherwise he will be pondering it for weeks.
since than dot com bust and Y2K went away as job creation one-time forces.
The housing bubble, which was highly leveraged, was bigger than the 1990s stock bubble. You can't make excuses for Bush's mediocre job gains. You're just being an apologist for conservative policies that history concludes do not work.
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