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(ABC)   The Senate has passed a tax cut extension for all but the wealthiest Americans, so you may want to put a hold on that new dressage horse you ordered   (abcnews.go.com) divider line 150
    More: Spiffy, Senate, Americans, defining issue, tax cuts, Mitch McConnell  
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2126 clicks; posted to Politics » on 26 Jul 2012 at 8:14 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-07-26 09:36:08 AM  

Dusk-You-n-Me: Spade: Huh, didn't know anybody had even considered it.

All you hear about is the Ryan budget, because the media is super liberal, you see.


There's the Ryan Budget and the Obama Unwillingness To Help Rich People. Do you hate rich people or love them? Tell us now, on our new web twitter poll on Facebook. Now lets go to Don in the ELECTIONATOR BUNKER 2012 TYPE-R to see if the Occupy people hate or love rich people.
 
2012-07-26 09:36:54 AM  

Hobodeluxe: and you really wouldn't put a dent in them doing that unless you closed a bunch of loopholes and hit capital gains hard too.


That's why I was saying "get rid of all the deductions". You make $X (total) and you pay Y%. End of story.

You could also probably drop the tax rate then too. That's what they did, what, like 50 years ago? Dropped the tax rate a lot but took away deductions for credit card interest and other crap.
 
2012-07-26 09:37:00 AM  
Not a liberal:

i234.photobucket.com




No matter how often you say it, he's still not a Socialist or a Communist or even the closest President we've had to those.
 
2012-07-26 09:38:00 AM  

Dusk-You-n-Me: Spade: Huh, didn't know anybody had even considered it.

All you hear about is the Ryan budget, because the media is super liberal, you see.


I'd heard about the CPC budget. Just not that part of it.
 
2012-07-26 09:38:21 AM  

MyRandomName: Top 20% are already paying over 70% of taxes, even more if you count the corporate tax as a dividend tax.


The top 20% of earners in the US, receive 55.9% of the income and control 85% of the wealth.
 
2012-07-26 09:39:13 AM  

Philip Francis Queeg: MyRandomName: Top 20% are already paying over 70% of taxes, even more if you count the corporate tax as a dividend tax.

The top 20% of earners in the US, receive 55.9% of the income and control 85% of the wealth.


Yup.

The Rich Pay More In Taxes Because They Can
 
2012-07-26 09:39:40 AM  

Lipo: But Boehner has already said he intends to block it, it will never get out of the house. Disgusting, really.

I can only hope that the recent influx of Democrats into my county helps to unseat him soon.


I thought Franklin was black??
 
2012-07-26 09:39:58 AM  

Chummer45: danvon: FTFA: Republicans say raising taxes on higher earners saps money from business owners who would otherwise create jobs.

And this assertion can clearly shown to be true by what empirical evidence?


Evidence? You obviously aren't familiar with the Republican philosophy about facts.


Yep, those pesky facts.

Fact: The last decade has seen the lowest taxes for "job creators" since the Great Depression.
Fact: The jobs created by this country's highest earners have been outside of the USA, and they continue to lay off their American workers.
Fact: The high earners who made these decisions are utterly unapologetic, and demand a continuation of tax breaks to keep doing the same for another ten years.

I don't begrudge any business owner/wealthy person for wanting to expand into the global market. I understand that this is a global marketplace now. But it should never come from relocating an American operation.

Want to expand into China and India? Go ahead and open up a factory/call center/other operation there. But let it only service that new market. You shouldn't close your US factory/call center/other operation and open a new one overseas without some kind of US tax penalty.
 
2012-07-26 09:42:25 AM  

MyRandomName: How about real reform for once?


republican "real reform" = more regressive taxes for the middle class and tax hikes for the poorest Americans annnnd increased fees to use government services to pay for tax cuts for the rich, amirite?
 
2012-07-26 09:44:32 AM  

Rapmaster2000: Is dressage pronounced like corsage or like wedge? This is a serious question.


Like "wedge" if "wedge" were spelled "whędghēž."

/not that I expected anyone here to actually help you pronounce it
//welcome to fark blahblah
 
2012-07-26 09:46:52 AM  

MyRandomName: Investment taxation is jumping big time as one example.


Citation_needed.jpg
 
2012-07-26 09:49:58 AM  

MyRandomName: The IRS has tables showing effective tax rates at a "higher progressive" rate than ever already. Half the country pays around 6% or less (payroll taxes included) while the top 20% pay around 24%


Mitt Romney's sole released tax return would seem to disagree with that last number.
 
2012-07-26 09:51:47 AM  
the rich pay more in taxes because the rich have most of the money. The theory that allowing the rich to keep more money will result in more jobs in the US is complete and utter nonsense, there's absolutely zero evidence to back that up. It's a lie that wont die.

This seems like a good time to point out that the GOP candidate for president spent the vietnam years in France and currently owns a dancing horse that cost more than a lot of people's homes.

/tax cuts for the wealthy is the GOP battle cry because they are owned by the wealthy.
 
2012-07-26 09:53:21 AM  
Let them all expire. The government needs every dime it can get it's hands on.
 
2012-07-26 09:53:52 AM  

theknuckler_33: MyRandomName: Investment taxation is jumping big time as one example.

Citation_needed.jpg


I second that citation request. I think investment taxation should be higher, but it's not...what are you referring to randomname?
 
2012-07-26 10:02:57 AM  

aug3: i've worked for quite a few small business folks and none of them make anywhere near $200,000.00 a year. In a good year most are able to pull in around 60k to 80k a year for themselves.


My father is a small business entrepreneur, and he intentionally keeps his income low so as to avoid paying taxes. Instead, he invests his profits back into the company, thereby creating jobs and avoiding steep taxes! This "lower taxes means more jobs" line is complete nonsense. Profits need to be taxed heavily so companies have more motivation to keep money inside a company.
 
2012-07-26 10:04:28 AM  

RobertBruce: Meanwhile, the Senate rejected a GOP amendment to extend the cuts to all taxpayers.

And yet it's somehow the GOP that is obstructionist. Democrats only fight for how much they can take from you.


Your tears of rage: they nourish my soul and make me happy.
 
2012-07-26 10:05:37 AM  

danvon: FTFA: Republicans say raising taxes on higher earners saps money from business owners who would otherwise create jobs.

And this assertion can clearly shown to be true by what empirical evidence?


Banking jobs in other countries.
 
2012-07-26 10:10:32 AM  

FunkyBlue: Lipo: But Boehner has already said he intends to block it, it will never get out of the house. Disgusting, really.

I can only hope that the recent influx of Democrats into my county helps to unseat him soon.

Yeah, after the redistricting, he's our rep now, too... Ugh... But at least I can not vote for him. Really missing our old rep, WHO LIVES IN OUR CITY, and is now the rep for neighboring counties.


I'm in Miami County, that gerrymandered part of Boehner's district north of Dayton that helps give him his comfortable, safe seat. Usually very Republican but we've already seen 2000 Democrats move into the county this year, so hopefully it won't be that way for long.
 
2012-07-26 10:11:27 AM  

thismomentinblackhistory: Rapmaster2000: Is dressage pronounced like corsage or like wedge? This is a serious question.

Like "wedge" if "wedge" were spelled "whędghēž."

/not that I expected anyone here to actually help you pronounce it
//welcome to fark blahblah


We've had dressage horses at our barn before, it is pronounced like corsage.
 
2012-07-26 10:12:49 AM  

Cinaed: So.... what are the chances the Derp-majority House will actually go with this and hand the Dems a win this close to the elections?


The Dems win either way. Either they get tax relief or they get campaign ammo.
 
2012-07-26 10:16:00 AM  

unexplained bacon: theknuckler_33: MyRandomName: Investment taxation is jumping big time as one example.

Citation_needed.jpg

I second that citation request. I think investment taxation should be higher, but it's not...what are you referring to randomname?


there's a 3.8% medicaid tax being imposed on investment income. this is a new tax. Here's a little article about it.

Here's an example: A single taxpayer making $1 million in wages and $100,000 in capital gains income would pay an additional $11,000 into Medicare than he does today.

Oh dear! So, to keep that in perspective, if the guy get's paid bi-monthly, he'll have to fork over an extra $458 out of his post-tax income of $45,833 (again, that's bi-monthly).

How will they ever survive such an added burden?
 
2012-07-26 10:16:22 AM  
Damn. Just after I signed a 5-year lease for the stables.
 
2012-07-26 10:20:32 AM  

theknuckler_33: unexplained bacon: theknuckler_33: MyRandomName: Investment taxation is jumping big time as one example.

Citation_needed.jpg

I second that citation request. I think investment taxation should be higher, but it's not...what are you referring to randomname?

there's a 3.8% medicaid tax being imposed on investment income. this is a new tax. Here's a little article about it.

Here's an example: A single taxpayer making $1 million in wages and $100,000 in capital gains income would pay an additional $11,000 into Medicare than he does today.

Oh dear! So, to keep that in perspective, if the guy get's paid bi-monthly, he'll have to fork over an extra $458 out of his post-tax income of $45,833 (again, that's bi-monthly).

How will they ever survive such an added burden?


That sucks. If I had a job making that much money, I would quit out of protest.
 
2012-07-26 10:23:06 AM  

unexplained bacon: the rich pay more in taxes because the rich have most of the money. The theory that allowing the rich to keep more money will result in more jobs in the US is complete and utter nonsense, there's absolutely zero evidence to back that up. It's a lie that wont die.


This. I don't get how the party that claims to be advocates of business don't understand that wages and capital spending are tax-deductible*. In fact, the tax-deductibility of those expenses means that higher taxes leads to higher marginal value of each deduction.

/Not really, I get it. Win at all costs, the rest of the country be damned.
 
2012-07-26 10:24:53 AM  

clkeagle: Fact: The last decade has seen the lowest taxes for "job creators" since the Great Depression.


Here's where I'm getting a real headache. This is indeed a fact. What's also a fact is that the last decade has also seen the lowest amount of jobs created since the great depression.

If both of these things are true, how the hell does anybody buy into the "You can't tax the job earners! They'll stop creating jobs!" line? Who, exactly, is stupid enough to believe this tripe? They got their tax break and DID NOT create jobs. I say fark em.
 
2012-07-26 10:28:54 AM  
So if the House drops the ball, then tax rates go back to what, pre-2002 levels or something?
 
2012-07-26 10:32:21 AM  

dinch: clkeagle: Fact: The last decade has seen the lowest taxes for "job creators" since the Great Depression.

Here's where I'm getting a real headache. This is indeed a fact. What's also a fact is that the last decade has also seen the lowest amount of jobs created since the great depression.

If both of these things are true, how the hell does anybody buy into the "You can't tax the job earners! They'll stop creating jobs!" line? Who, exactly, is stupid enough to believe this tripe? They got their tax break and DID NOT create jobs. I say fark em.


"Two things are infinite: the universe and human stupidity. I'm not sure about the universe." - Albert Einstein
 
2012-07-26 10:33:06 AM  

dinch: If both of these things are true, how the hell does anybody buy into the "You can't tax the job earners! They'll stop creating jobs!" line? Who, exactly, is stupid enough to believe this tripe?


The Republican Base.
 
2012-07-26 10:33:20 AM  
How about actually calling Republicans out on their talking point? Add something to the bill that clearly implements what they say happens.

For example, if you own a business then for each new hire you get a tax break of $X. Pro-rate it based on the duration of employment and hours, so you can't game it by hiring a lot of part timers or by boosting your employment for a particular date and then letting them go again.

Republicans should be on board with that, right? It implements exactly what they say happens when you throw money at the rich, except that it actually gets the cause and effect going in the right direction.

Show the American people you increased hiring, and you can keep more of your money.
 
2012-07-26 10:46:43 AM  

Lunatic Calm: How about actually calling Republicans out on their talking point? Add something to the bill that clearly implements what they say happens.

For example, if you own a business then for each new hire you get a tax break of $X. Pro-rate it based on the duration of employment and hours, so you can't game it by hiring a lot of part timers or by boosting your employment for a particular date and then letting them go again.

Republicans should be on board with that, right? It implements exactly what they say happens when you throw money at the rich, except that it actually gets the cause and effect going in the right direction.

Show the American people you increased hiring, and you can keep more of your money.



That happened. It was a bill to stop giving tax cuts of sending jobs overseas and to give a tax cut for bringing them back. The GOP blocked it so they wouldn't have to vote against it.
 
2012-07-26 10:49:26 AM  

Lunatic Calm: For example, if you own a business then for each new hire you get a tax break of $X. Pro-rate it based on the duration of employment and hours, so you can't game it by hiring a lot of part timers or by boosting your employment for a particular date and then letting them go again.


I think they should call it the JOBS Act.

Republicans should be on board with that, right?

They weren't.
 
2012-07-26 10:53:00 AM  
Raise taxes on individuals making six figures, in my opinion. We're doing fine. All it would do is slightly lower the amount I put into savings per month. That's worth having a functioning society to me.

Caveat: As long as the increased revenue goes toward lowering the debt or putting people to work on infrastructure.
 
2012-07-26 11:24:05 AM  

Bleyo: Raise taxes on individuals making six figures, in my opinion. We're doing fine. All it would do is slightly lower the amount I put into savings per month. That's worth having a functioning society to me.

Caveat: As long as the increased revenue goes toward lowering the debt or putting people to work on infrastructure.


lunacy
 
2012-07-26 11:24:54 AM  

Bleyo: Raise taxes on individuals making six figures, in my opinion. We're doing fine. All it would do is slightly lower the amount I put into savings per month. That's worth having a functioning society to me.

Caveat: As long as the increased revenue goes toward lowering the debt or putting people to work on infrastructure.


Bahahahaha, your dreaming.

It absolutely blows my mind that this many people think it is OK to tax one person more than another. That's it, you are picking one human being over another. I thought we were not supposed to do that.

But they are, rich.

So what, why are you so jealous, they are still human beings, have families, put their cloths on the same way and bleed the same.
 
2012-07-26 11:28:08 AM  

pxsteel: Bleyo: Raise taxes on individuals making six figures, in my opinion. We're doing fine. All it would do is slightly lower the amount I put into savings per month. That's worth having a functioning society to me.

Caveat: As long as the increased revenue goes toward lowering the debt or putting people to work on infrastructure.

Bahahahaha, your dreaming.

It absolutely blows my mind that this many people think it is OK to tax one person more than another. That's it, you are picking one human being over another. I thought we were not supposed to do that.

But they are, rich.

So what, why are you so jealous, they are still human beings, have families, put their cloths on the same way and bleed the same.


I make over $100K and agree with the sentiment...we're doing okay and can afford it.

/cue "then choose to pay more" stupid response.
 
2012-07-26 11:46:05 AM  

pxsteel: Bleyo: Raise taxes on individuals making six figures, in my opinion. We're doing fine. All it would do is slightly lower the amount I put into savings per month. That's worth having a functioning society to me.

Caveat: As long as the increased revenue goes toward lowering the debt or putting people to work on infrastructure.

Bahahahaha, your dreaming.

It absolutely blows my mind that this many people think it is OK to tax one person more than another. That's it, you are picking one human being over another. I thought we were not supposed to do that.

But they are, rich.

So what, why are you so jealous, they are still human beings, have families, put their cloths on the same way and bleed the same.


I take it you support a capitation tax where each American, regardless of their age, gender, disability status, or any other personal characteristic, has to pay the exact same amount of money in taxes as any other American?
 
2012-07-26 11:58:34 AM  

pxsteel: Bleyo: Raise taxes on individuals making six figures, in my opinion. We're doing fine. All it would do is slightly lower the amount I put into savings per month. That's worth having a functioning society to me.

Caveat: As long as the increased revenue goes toward lowering the debt or putting people to work on infrastructure.

Bahahahaha, your dreaming.

It absolutely blows my mind that this many people think it is OK to tax one person more than another. That's it, you are picking one human being over another. I thought we were not supposed to do that.

But they are, rich.

So what, why are you so jealous, they are still human beings, have families, put their cloths on the same way and bleed the same.


Or you could look at it as it actually is. That is to say that we're taxing money and if you have more of it you pay more taxes
It's fair whether you like it or not

What's your solution?
 
2012-07-26 12:25:58 PM  

pxsteel: It absolutely blows my mind that this many people think it is OK to tax one person more than another.


Read up on the history of progressive taxation.

It's been around a long, long time and there's plenty of good reasons for it.
 
2012-07-26 01:15:07 PM  

RobertBruce: Meanwhile, the Senate rejected a GOP amendment to extend the cuts to all taxpayers.

And yet it's somehow the GOP that is obstructionist. Democrats only fight for how much they can take from you.


Well it's a good thing that we're all millionaires. That is what you mean by "take from you" is it not?
 
2012-07-26 01:33:45 PM  

Dahnkster: Normally at this time I would post a scintillating photo of a bridled large-breasted woman prancing with with a ponytail-shaped butt plug protruding from her perfectly shaped arse. Since I promised mods I'd behave, I'm gonna refrain from that and continue to guard my HTML privileges like a omnipotent billionaire protecting his turtle-faced Senate minority leader.


Gross. Large breasts? What is the deal with guys and large breasts...?
 
2012-07-26 01:52:18 PM  

Rapmaster2000: Is dressage pronounced like corsage or like wedge? This is a serious question.


WWRD?
 
2012-07-26 02:05:01 PM  

pxsteel: Bahahahaha, your dreaming.

It absolutely blows my mind that this many people think it is OK to tax one person more than another. That's it, you are picking one human being over another. I thought we were not supposed to do that.

But they are, rich.

So what, why are you so jealous, they are still human beings, have families, put their cloths on the same way and bleed the same.


I'm not jealous. I'm asking to have my own taxes raised. I have a nice place to live, a nice car, I'm maxing out an IRA and 401k, and I have plenty of disposable income. I'd rather take a 3% pay cut(on my salary over the 100k mark) than watch this country collapse.

But, I guess we could burn the place down because asking for more from people like me that are doing well is immoral or socialism or something.
 
2012-07-26 02:44:19 PM  

pxsteel: Bleyo: Raise taxes on individuals making six figures, in my opinion. We're doing fine. All it would do is slightly lower the amount I put into savings per month. That's worth having a functioning society to me.

Caveat: As long as the increased revenue goes toward lowering the debt or putting people to work on infrastructure.

Bahahahaha, your dreaming.

It absolutely blows my mind that this many people think it is OK to tax one person more than another. That's it, you are picking one human being over another. I thought we were not supposed to do that.

But they are, rich.

So what, why are you so jealous, they are still human beings, have families, put their cloths on the same way and bleed the same.


They only put their clothes on if they can afford them, same with eating and purchasing shelter. I certainly would not mind paying higher taxes so that someone struggling to feed their family and pay for gas to get to work has it a little easier.
 
2012-07-26 02:54:59 PM  

Bleyo: pxsteel: Bahahahaha, your dreaming.

It absolutely blows my mind that this many people think it is OK to tax one person more than another. That's it, you are picking one human being over another. I thought we were not supposed to do that.

But they are, rich.

So what, why are you so jealous, they are still human beings, have families, put their cloths on the same way and bleed the same.

I'm not jealous. I'm asking to have my own taxes raised. I have a nice place to live, a nice car, I'm maxing out an IRA and 401k, and I have plenty of disposable income. I'd rather take a 3% pay cut(on my salary over the 100k mark) than watch this country collapse.

But, I guess we could burn the place down because asking for more from people like me that are doing well is immoral or socialism or something.



Here is the problem, if we were at 5% unemployment, we would not be talking about this. Weather you believe we have a revenue or spending or combination problem, the solution (RCFA) is jobs. 95% employment would create enough revenue to run the country comfortably. The democrats are pushing this because they have failed to solve the root cause. Does anyone think the government will put the money toward anything but more government bloating?
 
2012-07-26 02:58:43 PM  

pxsteel: Does anyone think the government will put the money toward anything but more government bloating?


Nope. That's why I said:

Caveat: As long as the increased revenue goes toward lowering the debt or putting people to work on infrastructure.
 
2012-07-26 05:49:18 PM  

jayhawk88: Cinaed: So.... what are the chances the Derp-majority House will actually go with this and hand the Dems a win this close to the elections?

About the same as the sun spontaneously turning into a giant lollipop. Seriously, Boehner and Cantor will be out there on the floor, breaking fingers with a ball-peen hammer, before they let this pass.


It might make C-Span interesting to watch.
 
2012-07-26 06:02:17 PM  

Carth: Republicans know that if the economy doesn't improve Obama, not them, will get the majority of the blame. If you knew that doing your job poorly would get someone you hate fired how hard would you work?



Best summation of the past three and a half years I've read anywhere on the internet.
 
2012-07-27 05:07:07 AM  

pxsteel: The democrats are pushing this because they have failed to solve the root cause. Does anyone think the government will put the money toward anything but more government bloating?


You do not understand.

Money taken in by the government is spent immediately. That's a good thing. That helps the economy.

Tax cuts for the wealthy means more money sitting idle in bank accounts. That is the problem.
 
2012-07-27 11:33:18 PM  

HotWingConspiracy: Rapmaster2000: Is dressage pronounced like corsage or like wedge? This is a serious question.

[static.guim.co.uk image 460x276]

I say, you poors can be quite droll with your questions. Now run along or I shall have you horsewhipped.


BTW, that's not iced tea, it's Pimms
 
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