When in doubt, Neo-Keynsianist tax cuts to the rescue.
I wonder how many of those top 1% are friend of congress, and have tax loopholes written in that don't affect them when income tax rates increase.
Remember now, we are talking income tax rates. Most of the rich have income and are taxed on capital gains and/or dividends. Not the income these tax rates apply to. So tell me. How is increasing the tax rate of those who actually work for a living, going to help?
I don't know, probably the same amount as the top 1% in your graph. It's the same people. What's your point?
Okay, so they make even more money than what is shown on this graph. Noted.Remember now, we are talking income tax rates. Most of the rich have income and are taxed on capital gains and/or dividends. Not the income these tax rates apply to.
It's not a tax increase. It's the expiration of a temporary tax cut.So tell me. How is increasing the tax rate of those who actually work for a living, going to help?
How are increased debt and deficits going to help? At some point you live within your means and you pay for all the goodies you get. That includes the middle class, which have avoided their true tax burden thanks to the 1% and maxing out the federal credit card.
If you expect your country's military to dominate the world, be prepared to pay for it and stop whining about it.
Yes, but after the public being used to a particular rate, it is a tax increase. Do the technical definitions matter much? People will still be paying more, spending less, and probably start a second recession with more unemployment.
Those paying the 10% rate will increase to 15%. At the 15% rate, some wiill stay there, others will move to 28%. The 25% rate will go to 28%, the 28% to 31%, etc.
Most middle-class earners will be paying an additional 3% on their taxable income. The poor who make enough to pay taxes, will pay an additional 5%, or have a 50% increase depending on how you look at it.
Isn't that 10% to 15% going to piss the poor off?
What about the child credits going back to $500 from the current $1000?
I will contend that it will only help the deficit for only the first year, if any. IAW Laffer's studies, the end result will be less revenue generated as the economy slows.
Yes, apparently it is pissing poor Republicans off who are starting threads about it in this forum.
So more deficit-financed stimulus. Grand.
Who would that be?
Yes, I know you mean me, but you prove your ignorance once again. I challenge you to show I'm registered as republican when my voter registration card says "not affiliated."
It would probably hurt in the beginning before we reach equilibrium but it's a market correction. The tax cuts should never have happened to begin with.
In reality, what will happen is that the tax cuts will be extended for anyone making less than $XX, with XX being whatever income level covers enough voters.
It would be ignorant to read this thread or any of the other 5,000 you've started in this forum and reach any other conclusion as to your party affiliation and economic status.
Then you once again prove you are a lib .
Because the all tax cuts are going to be kept in place except for the top income bracket..
LOL at you complaining about amounts of post or people who start threads in this forum.
That is supposed to be an insult?
Not at all. Consider it a term of endearment if you prefer.
If you believe that, I have a bridge to sell you.
Sure, if you believe propaganda from the left.
I'll believe it if they make it so before the November elections. I will bet they are holding this as an election issue, and have no intent of honoring it.
V-Bookie anyone?
They will extend the tax cuts for middle class and below, but Republicans will still oppose it, and they will rally droves of tea partiers to protest on behalf of the top 1% as they always so enthusiastically do.
I'm sure republicans will not oppose it unless something irrational is in the bill too.
Think they want to be left dry in the November elections because of this?
I'll also make the bet that democrats will poison any package they design to make republicans oppose it.
History is against the democrats on this one. The final house vote was 231 yes to 200 no. Republicans 224 to 1, democrats 7 to 198.
In the senate, 50/50 with Cheney's vote the tie breaker. republicans 48 to 3, democrats 2 to 46.
Probably. And the middle class saddles the productive John Galt class and future generations with more debt so they can shirk paying for their wars and government goodies.
Yup, only those 1% do anything, the rest of us are filthy heathens, begging for handouts.
I'll play Joe the Plumber for free money...
I love how you insult Marcus for saying that you obviously are Republican, by claiming to know his party and calling him a lib .
Marcus is obviously not a liberal to anyone who cares to read it. That you so willingly apply such a broad brush to anyone who disagrees with you gives further credence to what Marcus said.
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