Bush's tax cuts.
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CNN's Fareed Zakaria GPS...
Bush's tax cuts are the single biggest contributor to the deficit...making up almost 30% of the deficit...if the cuts expire we would save almost 300B.
But guess which people, who want fiscial responsbility, are aganist it...
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I don't know why people don't look at deficit spending on tax cuts as dumb as it actually sounds.
But it is just more of the Bush era credit card and 2nd mortgage economy.
Did anybody see John Boehner on Meet The Press. This is the guy who could possibly become the next Speaker of the House and he couldn't answer whether the tax cuts are paid for or not. How can you be for deficit reduction and extending tax cuts? It's all GOP hypocrisy 
Did anybody see John Boehner on Meet The Press. This is the guy who could possibly become the next Speaker of the House and he couldn't answer whether the tax cuts are paid for or not. How can you be for deficit reduction and extending tax cuts? It's all GOP hypocrisy
He would say he wants to cut spending to allow the tax cuts for the wealthy to continue.Much like our new gov here in NJ who is trying to balance our budget on the backs of people who can least afford it by big cuts in spending while maintaining the millioniares tax cut.Typical republican crap.
If we keep the tax cuts for the next 10 years for everyone...we add 3.7 trillion to the debt. If we just tax the wealthy we add 3 trillion over the next 10 years to the debt.
We could save 300 billion a year if we just stop these stupid tax cuts.
For a group that wants "common sence solutions", they sure are dense.
Did anybody see John Boehner on Meet The Press. This is the guy who could possibly become the next Speaker of the House and he couldn't answer whether the tax cuts are paid for or not. How can you be for deficit reduction and extending tax cuts? It's all GOP hypocrisy
I watched that and it was a sad commentary on the reality of our current political environment.
Both Dems and Repubs need to make a real stand on what they believe and quit dancing around what they really want to say.
That means they would have to be honest and straightforward. Not in a politicians lexicon.
Rey C.
Racing is life... anything else is just waiting.
Hyperbole is a many splintered thang!
I understand the arguments for keeping the income tax rates where they are now (in a time of recession). But what I don't get (and I doubt the GOP does either) is the argument that raising the tax rates on dividends will harm the economy. The people who collect dividends as a primary or major income source tend to be much older and less likely to be heavy consumers (of anything other than medical care). And the companies that pay high dividends tend not to be growth companies. They're typically utilities and trusts.
So maybe someone that has studied that argument can clue me in. I mean, how would that work exactly? Jack up the rates on "coupon clippers" and all of a sudden GDP drops into the red again? Riiiight. Is that before or after the gubment unplugs grandma?
I understand the arguments for keeping the income tax rates where they are now (in a time of recession). But what I don't get (and I doubt the GOP does either) is the argument that raising the tax rates on dividends will harm the economy. The people who collect dividends as a primary or major income source tend to be much older and less likely to be heavy consumers (of anything other than medical care). And the companies that pay high dividends tend not to be growth companies. They're typically utilities and trusts.
So maybe someone that has studied that argument can clue me in. I mean, how would that work exactly? Jack up the rates on "coupon clippers" and all of a sudden GDP drops into the red again? Riiiight. Is that before or after the gubment unplugs grandma?
meesterperfect
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CNN's Fareed Zakaria GPS...
Bush's tax cuts are the single biggest contributor to the deficit...making up almost 30% of the debt...if the cuts expire we would save almost 300B.
But guess which people, who want fiscial responsbility, are aganist it...
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complete bullshit.
sorry but it is.
turns out when you spend more money then you make you achieve what's commonly referred to as a 'deficit'...also apparently these war things are expensive...so while engaging in one of the costliest things possible (war) our government removed a decent chunk of it's income and behold debt arrived shocking!
If they dont let these expire I am seriously going to consider moving out of the US. The greed here is unbelievable
CNN's Fareed Zakaria GPS...
Bush's tax cuts are the single biggest contributor to the deficit...making up almost 30% of the debt...if the cuts expire we would save almost 300B.
But guess which people, who want fiscial responsbility, are aganist it...
Premium Link Upgrade
Simplistic view. Even the Obama economic advisors realize that raising taxes will continue the weakening of the economy. The higher you raise taxes, usually the less money you collect because it stifles economic growth. 35% of a lower number is less than 30% of a higher number. I guess this guy doesn't understand economics or math.
In a TERRIBLE economy, Obama has added ~40,000 federal government jobs this year and asked for billions for program after program. How about STOP SPENDING MONEY to see what the taxes need to be to balance the budget??? How about CUTS to **** we do no need instead of creating more idiotic, overpaid, unionized federal employees and wasting billions of taxpayer dollars on programs?
