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I think it is clear from the election and polls that Americans favor increasing taxes on the very wealthy. All that needs to happen is push the rates for taxes...all taxes (capital gains, inheritance, and tax brackets) to what they were during the Clinton term.
Republicans should just concede this point and begin negotiations on where to cut expenditures. Certainly there needs to be cuts with Defense, but other things need to be on the table.
I think it is clear from the election and polls that Americans favor increasing taxes on the very wealthy. All that needs to happen is push the rates for taxes...all taxes (capital gains, inheritance, and tax brackets) to what they were during the Clinton term.
Republicans should just concede this point and begin negotiations on where to cut expenditures. Certainly there needs to be cuts with Defense, but other things need to be on the table.
Iv'e heard this claim, " I think it is clear from the election and polls that Americans favor increasing taxes", before and I don't agree with it.
Obama won by 2%. Hardly a mandate.
Bohner, Canton, Ryan and many other were re-elected keeping control of the House for the repubs.
It has ALWAYS been true that people will ALWAYS favor raising someone else's taxes but, not their own.
Let's see the dem introduce raising Everybody's taxes and I think your claim will be debunked.
Make the tax increase voluntary. If it's true so many want big tax hikes, there should be no trouble getting people to sign up for their tax increase.
This election was split between those on the dole and taxpayers. The non-contributors that want more government handouts obviously went for Obama, but no one has any objection to a voluntary tax increase for all who want to pay more taxes.
I think it is clear from the election and polls that Americans favor increasing taxes on the very wealthy. All that needs to happen is push the rates for taxes...all taxes (capital gains, inheritance, and tax brackets) to what they were during the Clinton term.
Republicans should just concede this point and begin negotiations on where to cut expenditures. Certainly there needs to be cuts with Defense, but other things need to be on the table.
The CBO says that an increase in tax rates will result in 9+% unemployment and a retraction of 0.5% GDP very quickly so I'm not sure that is such a good "compromise" for us all. Maybe start with a closing of all loop holes and see how much revenue is generated from that. If its not enough,along with cuts, then there is a legitimite argument for higher rates.
One thing is for sure....Obama and congress need to come to some compromise or the result ain't gonna be pretty.
Let all the cuts happen. Face DEBT head on and deal with it now.
It won't go away.
States are already taxing the rich more and now you want the Fed to do it too ?
Those rich aren't going to save America for you and pay off your debts.
It's funny isn't it? They actually think a country can become prosperous on the backs of the rich. They will finally get the message when they are getting poorer and struggling just to survive. The poor and minorities will be hit the worst, and to think, they VOTED FOR THIS! All I'm going to do is laugh and tell them to suck it up!
I think it is clear from the election and polls that Americans favor increasing taxes on the very wealthy. All that needs to happen is push the rates for taxes...all taxes (capital gains, inheritance, and tax brackets) to what they were during the Clinton term.
Republicans should just concede this point and begin negotiations on where to cut expenditures. Certainly there needs to be cuts with Defense, but other things need to be on the table.
It's funny isn't it? They actually think a country can become prosperous on the backs of the rich. They will finally get the message when they are getting poorer and struggling just to survive. The poor and minorities will be hit the worst, and to think, they VOTED FOR THIS! All I'm going to do is laugh and tell them to suck it up!
Yup...I agree to some point...the deficit wont go away on the backs of taxing the rich and cutting defense alone.
Dad always said "Be careful what you wish for-you just might get it". We shall see>
I think it is clear from the election and polls that Americans favor increasing taxes on the very wealthy. All that needs to happen is push the rates for taxes...all taxes (capital gains, inheritance, and tax brackets) to what they were during the Clinton term.
Republicans should just concede this point and begin negotiations on where to cut expenditures. Certainly there needs to be cuts with Defense, but other things need to be on the table.
The main problem I see with this idea is that only increasing the taxes on the "very wealthy" will not result in enough revenue to make any serious inroads on the national deficit. There just isn't enough money in the pool. The only way we're going to touch the deficit is through an increase in revenue and massive spending cuts. The increase in revenue can either come from tax hikes across the board or through business friendly policies that put more people to work and increase the tax base, rather than the tax rate. The massive spending cuts are going to have to come from military (probably not a good idea, considering our President's penchant for pissing off the Middle East by using drones to kill innocent civilians) and/or from entitlement programs.
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