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(NBC News)   Silly NBC News says that taxes will go up next year if Romney is president....or if Obama is president. Wait, aren't they supposed to lie about Obama?   (economywatch.nbcnews.com) divider line 25
    More: Scary, NBC, obama, tax holiday, tax cuts expire, Ways and Means Committee, Senate Finance Committee  
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431 clicks; posted to Politics » on 22 Oct 2012 at 11:45 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-10-22 08:30:26 AM
Why are so many politicians sour on continuing the payroll tax break?

Because it benefits working and middle class families, and as such is wealth redistribution and contributing to our debt instead of growing the economy by benefiting the richest.
 
2012-10-22 09:21:18 AM

Bloody William: Why are so many politicians sour on continuing the payroll tax break?

Because it benefits working and middle class families, and as such is wealth redistribution and contributing to our debt instead of growing the economy by benefiting the richest.


Pretty much.
 
2012-10-22 10:37:17 AM
The Persistent, Zombie-Like Ohio Lead for Obama

What do we want?! BRAAAAAINS

When do we want it?! BRAAAAAINS
 
2012-10-22 11:53:59 AM
shockingly the teabaggers won't hold the country hostage over this "tax increase" like they did with the Bush tax cut extensions, cause you know, they are taxed enough already and stuff, totally not complete and utter bullshiat or anything.
 
2012-10-22 12:00:31 PM

Headso: shockingly the teabaggers won't hold the country hostage over this "tax increase" like they did with the Bush tax cut extensions, cause you know, they are taxed enough already and stuff, totally not complete and utter bullshiat or anything.


Teabaggers are Republican. They do not care about taxes.
 
2012-10-22 12:00:38 PM
You mean to tell me that a temporary tax cut that was set to expire is going to actually expire? Are we considering this an outrage or do we feel like we're finally making progress on the budget? Because, beyond "meh", I really can't seem to come up with a reaction to this.
 
2012-10-22 12:00:38 PM
How about anyone who reports more than 1 million in capital gains earning a year has everything above that taxed at 50%?

Sorry that would class warfare.
 
2012-10-22 12:02:12 PM

Bloody William: Why are so many politicians sour on continuing the payroll tax break?

Because it benefits working and middle class families, and as such is wealth redistribution and contributing to our debt instead of growing the economy by benefiting the richest.


Also, since Republicans are immune to facts and reality, repeating "Obama raised your taxes" over and over again on TV for the mouth-breathers would be a really sweet selling point for them, separation of legislative and executive branches be damned.
 
2012-10-22 12:09:30 PM

Carth: How about anyone who reports more than 1 million in capital gains earning a year has everything above that taxed at 50%?

Sorry that would class warfare.


The money has already been taxed! How dare you attempt to burden the top 1% with more taxes! They drive the economy! Without them, we would have nothing! We would be eating each other's feces without the inventive nature of the top 1%
 
2012-10-22 12:19:08 PM
The money is already spent. Get used to it taxes HAVE to go up, there is not enough available in the budget to cut to make it balance.
 
2012-10-22 12:22:39 PM
FTA: Republicans question whether reducing the tax two years ago has done much to stimulate the sluggish economy.

Huh...
 
2012-10-22 12:26:54 PM

Tomahawk513: FTA: Republicans question whether reducing the tax two years ago has done much to stimulate the sluggish economy.

Huh...


Of course. A tax cut that benefits every working American in a progressive fashion hasn't done much to stimulate the economy, but tax cuts to capital gains - which overwhelmingly benefit the wealthiest Americans - will single-handedly catapult us to economic growth never before imagined by man.
 
2012-10-22 12:27:25 PM

DubyaHater: Carth: How about anyone who reports more than 1 million in capital gains earning a year has everything above that taxed at 50%?

Sorry that would class warfare.

The money has already been taxed! How dare you attempt to burden the top 1% with more taxes! They drive the economy! Without them, we would have nothing! We would be eating each other's feces without the inventive nature of the top 1%


Even if the double taxation myth is true dropping the corporate tax in favor of raising the capital gains tax for high earners might actually get passed and keep things revenue neutral or revenue positive only possible if republicans weren't pants on head insane and democrats were not spineless wimps.
 
2012-10-22 12:28:50 PM

geek_mars: You mean to tell me that a temporary tax cut that was set to expire is going to actually expire? Are we considering this an outrage or do we feel like we're finally making progress on the budget? Because, beyond "meh", I really can't seem to come up with a reaction to this.


That depends upon whether you vote for people with a "D" or an "R" next to their names.
 
2012-10-22 12:31:16 PM

Tomahawk513: FTA: Republicans question whether reducing the tax two years ago has done much to stimulate the sluggish economy.

Huh...


Republicans doubt that tax cuts that most significantly affect those making less than $106,800 a year will do much to provide economic relief to people. Now if you had cut business taxes, slashed capital gains, and eliminated the estate tax THEN we'd see some growth-oriented tax relief. If anything, we need to raise effective taxes on the poor to make sure the economy gets pumping again; poor people are too stupid for their higher marginal propensity to consume to have any effect on the economy.

...The fact that this is seen as a more mature and serious view of how to fix the economy scares the hell out of me.
 
2012-10-22 12:32:10 PM
Silly NBC News says that taxes will go up next year if Romney is president....or if Obama is president. Wait, aren't they supposed to lie about Obama?

No, that's FoxNews job.
 
2012-10-22 12:32:38 PM
Remember, taxes are theft./ The Government runs on Magic
 
2012-10-22 12:38:15 PM
well, a social security tax reduction....at least I will (in theory) be getting that back (and more) after retirement.
 
2012-10-22 12:40:17 PM

qorkfiend: Of course. A tax cut that benefits every working American in a progressive fashion hasn't done much to stimulate the economy, but tax cuts to capital gains - which overwhelmingly benefit the wealthiest Americans - will single-handedly catapult us to economic growth never before imagined by man.


While I'm opposed to the consumption tax Gary Johnson did make an interesting point about corporate taxes in the U.S. There's no more attractive number than zero tax. If zero taxes can't encourage business growth I don't know what will. Of course zero corporate taxes means we'll need to make that up by taxing capital gains as income.. because historically if you added corporate tax + capital gains tax it equaled approximately the income tax rate.
 
2012-10-22 12:47:39 PM

Mantour: Headso: shockingly the teabaggers won't hold the country hostage over this "tax increase" like they did with the Bush tax cut extensions, cause you know, they are taxed enough already and stuff, totally not complete and utter bullshiat or anything.

Teabaggers are Republican. They do not care about taxes.


They only care about something when a Democrat espouses it or blasts it. Then they've always hated it/loved it. They became experts on the fact that global warming can't exist the minute "An Inconvenient Truth" was released. They're for our veterans, except for the fake ones like John Kerry, Max Cleland and Tammy Duckworth. They fight against the left's destruction of America...and then complain about literally everything about it (except for their own neighborhood, the only "real" America).
 
2012-10-22 12:49:39 PM

Rev. Skarekroe: geek_mars: You mean to tell me that a temporary tax cut that was set to expire is going to actually expire? Are we considering this an outrage or do we feel like we're finally making progress on the budget? Because, beyond "meh", I really can't seem to come up with a reaction to this.

That depends upon whether you vote for people with a "D" or an "R" next to their names.


He doesn't. That's what caused the whole problem in the first place.
 
2012-10-22 12:56:15 PM
I seem to remember during the Summer of 2008 a lot of people as well as Hillary Clinton and John McCain promising a gasoline tax break if they got elected and third person that called it political posturing that would only serve to underfund essential road maintenance budgets...
 
2012-10-22 01:06:20 PM

Headso: DubyaHater: Carth: How about anyone who reports more than 1 million in capital gains earning a year has everything above that taxed at 50%?

Sorry that would class warfare.

The money has already been taxed! How dare you attempt to burden the top 1% with more taxes! They drive the economy! Without them, we would have nothing! We would be eating each other's feces without the inventive nature of the top 1%

Even if the double taxation myth is true dropping the corporate tax in favor of raising the capital gains tax for high earners might actually get passed and keep things revenue neutral or revenue positive only possible if republicans weren't pants on head insane and democrats were not spineless wimps.


too bad Romney has no plans to do so (from his own site):


Make permanent, across-the-board 20 percent cut in marginal rates
Maintain current tax rates on interest, dividends, and capital gains
Eliminate taxes for taxpayers with AGI below $200,000 on interest, dividends, and capital gains
Eliminate the Death Tax
Repeal the Alternative Minimum Tax (AMT)
Cut the corporate rate to 25 percent
Strengthen and make permanent the R&D tax credit
Switch to a territorial tax system
Repeal the corporate Alternative Minimum Tax (AMT)

Link

Reform The Nation's Tax Code To Increase Growth And Job Creation.
-Reduce individual marginal income tax rates across-the-board by 20 percent, whilekeeping current low tax rates on dividends and capital gains. Reduce the corporateincome tax rate - the highest in the world - to 25 percent.
-Broaden the tax base to ensure that tax reform is revenue-neutral.

Reform Entitlement Programs To Ensure Their Viability.
o Gradually reduce growth in Social Security and Medicare benefits for more affluent seniors. Give more choice in Medicare to improve value in health care spending.
o Block grant the Medicaid program to states, enabling experimentation to better fit local situations.
 

So, maybe some farkers can clarifiy for me, if you make 190k on investments, you will pay no income taxes on it?

What the hell does "broaden the tax base" mean? get poorer people to start paying taxes?

and isn't "Gradually reduce growth in Social Security and Medicare benefits for more affluent seniors" class warfare?
 
kab
2012-10-22 02:08:22 PM
Want to fix social security? Raise the max contribution limit.

Beyond that, any politician who questions the economic effectiveness of lower taxes on the majority of earners probably shouldn't be making decisions on the subject in the first place.
 
2012-10-22 03:30:29 PM
Given the fake outrage by the Murdoch machine about everything NBC does, can you imagine what would happen if they ever actually did tell a lie?
 
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