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The wealthy have a tax rate of 35% but after all the deductions they actually only pay 17%. Ryan wants to tax them at 25% and eliminate the deductions. You do the arithmetic.
Really? Link please. How do you know the debt wouldn't be worse without the cuts? taxes and the economy are interactive and dynamic. Not static.
But did they have more money to spend in the economy or not?
Have you watched a parallel universe to see if that's true, or are you assuming that is correct? There is no way you can have definitive evidence otherwise.
No, they are assumptions. I say our problem comes from where we get our supplies if you wish to use those words. We have a serious world trade deficit. We need to bring production of items we by back to our shores. Personal income taxes really matter little when jobs are going overseas.
The wealthy have a tax rate of 35% but after all the deductions they actually only pay 17%. Ryan wants to tax them at 25% and eliminate the deductions. You do the arithmetic.
A promise to eliminate deductions is just a promise. You do the arithmetic.
Yeah...I can hear it now...
"We can't simplify the tax code! Think of all the unemployed accountants!"
So we should make the path to legality easier?
Which do you think will be enacted first? Slashing Medicare, or raising taxes on the rich by removing loopholes?
Do you use gas? Do you use tires? Do you drive? Do you think those highways you drive on pay for themselves? You think those schools you rely on have trees where money grows?
More importantly whats your frame of reference? Did you pay taxes in the 40s,50s, and 60s? Did you buy war bonds to finance the wars we had to fight? Did you under go rationing during WWII?
Talk bout the ing embodiment of the general population's problem. The generations that came before knew what sacrifice was and you have the nerve to that you're overtaxed.
Do I feel I'm undertaxed? No, I KNOW that I'm undertaxed and I know that we're all undertaxed. Its ing obvious to anyone that can count.
Only the people making more money than me are undertaxed.
- American majority
This is why we can't have nice things.
, we KNOW you are undertaxed. ing leech...
Link: Besides the one that opened this thread, try:
http://economiccrisis.us/2011/04/60y...eficit-growth/
The article above not only quotes David Stockman, who was Reagan's OMB manager as laying the debt crisis at the feet of too-low taxes (along with spending, of course), but also Harm Bandholz of Unicredit Markets
"But did they have money to spend?..."
they had borrowed money to spend, yes. But it was contributing to the debt that will have to be repaid by our grandchildren?? Remember?
"Have you watched a parallel universe?..."
No. I have watched our own universe where the national debt tripled under Reagan and doubled under Bush, all the while no one complained. What were you watching? The debt numbers under each President are proof positive. The very definition of evidence.
dubya's cut in estate taxes was a "tax expenditure" of $800B+.
http://www.cbpp.org/cms/index.cfm?fa=view&id=3036
dubya's tax cuts and wars really exploded the deficit, there is no (honest) question.
Neither in the near term. Longer term when the really hits the fan maybe we'll see meaningful reform on both. First the american people need to suffer a whole lot more before there will be the political will to seriously tackle the tax code, deficits, en lements. In the mean time, all we can do is enjoy the show.Which do you think will be enacted first? Slashing Medicare, or raising taxes on the rich by removing loopholes?
What percentage do you pay? Federal income tax only.
I was in the upper tax bracket for 4 years in the past decade. One before the Bush cuts., we KNOW you are undertaxed. ing leech...
Not really what I was asking. Try this...
http://www.spurstalk.com/forums/showthread.php?t=177504
I know what you're asking and I think its a bull question. I'm a full time student now (hence the leech comment from CC) and somehow the fact that you paid more federal income tax in 2010 gives you legitimacy?
You saw the smiley, right? All in fun...
I wasn't offended CC. I've said far worse and I know we both have thick skin.
One of our big problems as a country is the majority of people want services from the government, but they don't want to pay for them. If you were to poll the entire country I'm sure you would find a vast majority support tax cuts for everybody. I'm betting a majority would also be against cutting medicare and social security. At some point we are going to have to decide which we prefer: a social safety net or low taxes.
true, but pla udinous. there are a handful of threads here on that exact topic.
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