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Higher taxes on the wealthy are estimated to bring in an additional $82 Billion annually. Since liberals are hell-bent on seeing this tax increase come to fruition, how do they intend to raise the other $1,000,000,000,000 in deficit for Fiscal Year 2013 and beyond?
Even more important, do liberals understand why the argument for higher income taxes on those making $250K and above is wholly and completely irrelevant compared to the outstanding trillion dollar deficit?
$82B is enough money to pay the interest on the national debt for 8 days.
Does this even register? Or are you just happy that Barack Obama won the election and everything else is irrelevant?
Liberals know how to do math! Thing is why do the wealthy need tax cuts? They already have a million loopholes to shelter their income & wealth! Just ask Mitt Romney!
Liberals know how to do math! Thing is why do the wealthy need tax cuts? They already have a million loopholes to shelter their income & wealth! Just ask Mitt Romney!
The wealthy do not need tax cuts and the loopholes should be closed. But to obsess over it is not seeing the big picture. It is to create division.
Its the same as obsessing over Mrs Jones who gets a book of food stamps every month.
The big picture is the Military, SS and Healthcare.
So your opinion is that four years of failure under Barack Obama.... a guy with zero experience at anything meaningful...... is a better option than giving someone with exceedingly more business and financial experience a shot at righting the ship? The lesser of two evils didn't even prevail in this scenario. That's indicative of how ****ed up America really is. If you voted for Obama, then you're part of the problem.
Are you of the opinion that you can comprehend the implications of the post?
Americans can't help but elect one of two unelectable candidates because they refuse to vote for anything but welfare democrats or crony republicans.
ENSLAVING everyone who makes over $250K per year only generates $900 billion. The "tax the rich" mantra of Obama does NOTHING.
So talking about certain tax rates from the past is simply re-arranging the deck chairs on the Titanic. If anyone was serious about the debt, they would-
1. initiate a 15% VAT
2. cut entitlements 20% across the board
3. intitiate a balanced budget amendment
4. ear mark 10% of annual revenues for debt reduction to approach 25% GDP
Get real- no politician will do what is necessary. I say we fully support Obama's plans and allow him to destroy the nation and get it over with quickly, such that componants can reform.
Income by government granted privilege I see now is called slavery?
Higher taxes on the wealthy are estimated to bring in an additional $82 Billion annually. Since liberals are hell-bent on seeing this tax increase come to fruition, how do they intend to raise the other $1,000,000,000,000 in deficit for Fiscal Year 2013 and beyond?
Only a complete idiot would try and close the deficit completely.
So your opinion is that four years of failure under Barack Obama.... a guy with zero experience at anything meaningful...... is a better option than giving someone with exceedingly more business and financial experience a shot at righting the ship? The lesser of two evils didn't even prevail in this scenario. That's indicative of how ****ed up America really is. If you voted for Obama, then you're part of the problem.
You sound like those Southerners who haven't gotten over the fact that they lost the Civil War.
We had an election, the American people decided that Obama was a better choice than a conceded plutocrat who has nothing in common with average Americans and only cares about lowering taxes on the rich. Get over it.
Only a complete idiot would try and close the deficit completely.
That is correct. As Keynes said, the boom, not the slump, is the time for austerity. But the deficit hawks can’t make that argument, because they have in fact been arguing for austerity for the last four years. If they had gotten their way, they'd have driven the economy into a depression.
The wealthy do not need tax cuts and the loopholes should be closed. But to obsess over it is not seeing the big picture. It is to create division.
Pointing at an issue is not an obsession, but it will be presented as such from those resistant to the idea. Consequently, division is inevitable, and not because one side has chosen to look at the issue.
You sound like those Southerners who haven't gotten over the fact that they lost the Civil War.
We had an election, the American people decided that Obama was a better choice than a conceded plutocrat who has nothing in common with average Americans and only cares about lowering taxes on the rich. Get over it.
The War of Northern Aggression you carpetbagging Yank.
I'm a liberal and therefore support a team effort at running the country.
What a load of BS!
THIS is what liberals support, and it ISN'T a "team effort":
Quote:
Originally Posted by the Chairman of the Economics Department at Harvard University in a July 2012 analysis of government data
"Because transfer payments are, in effect, the opposite of taxes, it makes sense to look not just at taxes paid, but at taxes paid minus transfers received. For 2009, the most recent year available, here are taxes less transfers as a percentage of market income (income that households earned from their work and savings):
Bottom quintile: -301 percent
Second quintile: -42 percent
Middle quintile: -5 percent
Fourth quintile: 10 percent
Highest quintile: 22 percent
Top one percent: 28 percent
The negative 301 percent means that a typical family in the bottom quintile receives about $3 in transfer payments for every dollar earned.
The most surprising fact to me was that the effective tax rate is negative for the middle quintile. According to the CBO data, this number was +14 percent in 1979 (when the data begin) and remained positive through 2007. It was negative 0.5 percent in 2008, and negative 5 percent in 2009. That is, the middle class, having long been a net contributor to the funding of government, is now a net recipient of government largess."
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