Or should they be allowed to expire? Should they be extended for about 1-2 years? Or should they be allowed to expire only for those in the top tax bracket?
Should the Bush taxcuts be extended?
- Thread starter Straight Shooter
- Start date
Of course they should expire!
They were a huge part of what ruined the economy and blew open the deficit. We all remember Cheney's words "Deficits don't matter."
The U.S. has never cut taxes during war time until the Texas Clown and the Wyoming Asshat bumbled their way into the White House....
They were a huge part of what ruined the economy and blew open the deficit. We all remember Cheney's words "Deficits don't matter."
The U.S. has never cut taxes during war time until the Texas Clown and the Wyoming Asshat bumbled their way into the White House....
Rey C.
Racing is life... anything else is just waiting.
For the middle class, I feel that they should remain in place. After suffering through almost zero growth in real wages over the past decade, we shouldn't raise taxes on the middle class in a time just after a deep recession. For those above $250K, $300K or whatever figure they can compromise on, yeah, it would make NO sense to borrow money to extend those breaks. But for people in the upper income groups who are actual small business owners (not trust fund babies, coupon clippers or dividend collectors), who also file Sub-S/pass-thru returns, I'd extend the breaks too... maybe even provide more breaks when it comes to small business owners. The banks are fucking them (us) over! If you're not a larger C corp., you still can't get financing to do basic things.
So... "yes" for the middle income/wage earners, "yes" for small business owners and "no" for the idle/chit-chat set.
So... "yes" for the middle income/wage earners, "yes" for small business owners and "no" for the idle/chit-chat set.
None of them should expire, even those for the "rich." Deregulation of the housing loan industry crashed the economy. It was done by both major parties, not one politician on political party no matter how much you may hate them. The only way to save the economy is to cut spending. I am not a republican, this is just basic economics.
They definitely should expire - to continue to cut taxes during a time of war was idiotic (but what do you expect this is Bush we're talking about here). But to think that just by letting them expire and having taxes rise is automatically going to have major changes in the deficit would be foolish. They're definitely a step in the right direction, but they aren't the root of the problem as some believe them to be. The main reason the deficit has grown at such a huge rate is because of the masses in public spending the government is now left to deal with - attempting to manage that, if the government really wants to cut the deficit by a considerable amount is the major task they now have in front of them.
All tax cuts are good....
Doesn't matter who authored them...
Doesn't matter who authored them...
yes the should be extended if not you are looking at paying 2000 more in taxes
Rey C.
Racing is life... anything else is just waiting.
But since the money to fund these tax cuts would have to be borrowed and that would add to the deficit, you do see the contradiction in what you're saying, yes?
It's not really about what caused the economic crisis - that's kind of a different topic, if I may say so. It's about what we should or shouldn't do from a fiscal standpoint going forward. With consumption (not the "consumer", as some like to claim) being about 70% of GDP, I would try to take the smallest hit to revenues and still try to get the greatest positive affect on consumption/GDP. And people in the middle class, and those with small businesses, tend to net/net consume more... which adds to GDP... which provides a net growth component to the tax cuts.
But I agree with you, spending does need to be cut - including what we "spend" to fund tax breaks and credits. And unlike some, I wouldn't allow any sacred cows to keep walking around untouched. But on the flipside, we have to address the revenue side (tax collections) too.
absolutely not
Let them expire. I hate paying taxes but I hate bankrupting the US more.
meesterperfect
Hiliary 2020
Of course they should expire!
They were a huge part of what ruined the economy and blew open the deficit. We all remember Cheney's words "Deficits don't matter."
The U.S. has never cut taxes during war time until the Texas Clown and the Wyoming Asshat bumbled their way into the White House....
2 different points of view.
my conservative point of view is keep em and cut and eliminate more, then spend less.
your liberal point is yes, let them expire and create more, then spend spend spend the future and the present away.
feed the beast, make it grow even more.
me , i say put that bitch on a diet.
xfire
New Twitter/X @cxffreeman
The Bush tax cuts don't work. Clinton raised taxes on the top 2% and the economy grew by 22 million jobs in the nineties. Bush came in and cut taxes while growing the deficit and here we are lucky as fuck that Obama passed the stimulus that stabilized the economy. I'll take the Clinton economy over the Bush economy any day.
meesterperfect
Hiliary 2020
orperhaps it was clintons actions that fucked up the economy in which the later bush years bore the brunt and now its obamas turn to mess it up for the next guy to fix?
the economy doesnt change overnight, it takes years.
and yeah, obama stabilized the economy.
gimme some of what your smokin.
xfire
New Twitter/X @cxffreeman
Oh, yeah, of course, it must have been Clinton fucking things up because that fits your neocon narrative. Bullshit. The numbers don't lie. http://www.dailykos.com/story/2009/2/23/153449/938/834/700890 Republicans have always been good at distorting the truth to fit their narrative.
meesterperfect
Hiliary 2020
wrong.
i'm a free thinker.
open minded.
youre the one twisting the truth.
being biased based on political parties.
i'm not gonna give clinton credit where he doesnt deserve much or condemn bush when he doesnt deserve it.
or vice versa.
i dont care who was prez at the time.
i'm not gonna give any of them that much credit.
the economy is a series of ups and downs, who's president at the time is not too important.
i'm a free thinker.
open minded.
youre the one twisting the truth.
being biased based on political parties.
i'm not gonna give clinton credit where he doesnt deserve much or condemn bush when he doesnt deserve it.
or vice versa.
i dont care who was prez at the time.
i'm not gonna give any of them that much credit.
the economy is a series of ups and downs, who's president at the time is not too important.
There is no contradition. The money would not have to be borrowed if we stopped spending. We already generate enough to cover the NECESSARY expenses of our government. Elimiante ear marks and wasetful spending and your are done.
Extending tax cuts for the rich is highly inefficient. Both economic theory and countless studies suggest that the wealthy are likely to save most, if not all, of a tax cut. When tax cuts increase the disposable income of lower-income earners, however, those people quickly spend it – on everything from rent to groceries and automobiles. This spending helps businesses thrive, strengthening our recovery.
Tax cuts do not pay for themselves, and revenue – stretched far too thin these days – should not be sacrificed for those who can most afford to pay. That $629 billion should instead be put toward investments that can strongly stimulate the economy.
Tax cuts do not pay for themselves, and revenue – stretched far too thin these days – should not be sacrificed for those who can most afford to pay. That $629 billion should instead be put toward investments that can strongly stimulate the economy.
Don't let them expire.
Government needs to learn to control its spending. It's the only entity that seems to get a pass spending willy-nilly. I'd be fat-and-bloated and fiscally-foolish too if I didn't worry about having to pay for things myself.
Government needs to learn to control its spending. It's the only entity that seems to get a pass spending willy-nilly. I'd be fat-and-bloated and fiscally-foolish too if I didn't worry about having to pay for things myself.
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