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Well...that raises the tax rate on the lowest income taxpayers by 50%. It would re-instate the "marriage penalty". Slashes the child tax credit. And of course eliminate the 60%+ of the BTC savings that lower income taxpayers benefitted from. Some of the 47% of the population that currently pays no income tax will get to contribute something. I wonder how the Democratic voting base (well, at least the small portion that actually WORKS) will like that?
I'm part of the Democratic voting base, and I wouldn't mind if all of the Bush tax cuts were eliminated. They were not planned for and poorly thought out. In fact, as a married person with a child and a not-so-high-income, we'll probably be harder hit. I'll pay higher taxes. So what. I'll adjust. There needs to be more revenue. I'd rather things get straightened out now than later.
Well...that raises the tax rate on the lowest income taxpayers by 50%. It would re-instate the "marriage penalty". Slashes the child tax credit. And of course eliminate the 60%+ of the BTC savings that lower income taxpayers benefitted from. Some of the 47% of the population that currently pays no income tax will get to contribute something. I wonder how the Democratic voting base (well, at least the small portion that actually WORKS) will like that?
I'm a democrat, and I would support it. I don't think taxes should be as low as they are for upper or lower earners. They just don't square with historical spending levels.
Obviously, when we do this depends upon the economy actually being out of intensive care. I think we are out of the deepest crisis already, but the slow unemployment recovery does not make anyone happy. Ironically, government layoffs are a major cause of our elevated employment rate. If the GOP in congress had not stalled the jobs bill or federal transfer funds to states and municipalities, UE would probably be below 8% by now. Like any tax hike it needs to be done by second term president and who actually cares about doing his/her job.
I'm part of the Democratic voting base, and I wouldn't mind if all of the Bush tax cuts were eliminated. They were not planned for and poorly thought out.
What you really mean is that YOU didn't think it out.
Quote:
There needs to be more revenue. I'd rather things get straightened out now than later.
After the Bush Tax Cuts were passed, government tax revenues hit an all-time high.
Here's the real question for you Liberal Democrats......
In 2009 Obama himself said that you don't raise taxes in a recession. Bill Clinton agreed with that.
So do you really think that our economy is that much better today than it was in 2009 that we can do what Obama himself said we should never do?
Were he and Bill Clinton wrong?
We're technically out of the recession. Rich people will also be hurt the least. P.S. Cutting taxes while you embark on two dumb wars is poor planning.
Here's the real question for you Liberal Democrats......
In 2009 Obama himself said that you don't raise taxes in a recession. Bill Clinton agreed with that.
So do you really think that our economy is that much better today than it was in 2009 that we can do what Obama himself said we should never do?
Were he and Bill Clinton wrong?
Yes, the economy is in better shape. Admittedly, not in great shape with Europe, high UE and all, but it is much better than 2009.
And no, Clinton and Obama were not wrong, but the GOP wants to have their cake and eat it too. Cut taxes to the bone, launch wars, brew up a bubble, cut programs, and blame the Democrats for the deficit and unemployment.
We're technically out of the recession. Rich people will also be hurt the least. P.S. Cutting taxes while you embark on two dumb wars is poor planning.
Edit: Cutting taxes while you embark on two dumb wars is criminal-level negligence.
Edit: Cutting taxes while you embark on two dumb wars is criminal-level negligence.
And Obama said that the Deficit under Bush was "unpatriotic"....which doesn't apply to HIM now that he's tripled it.
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