Pages

12 comments

Jump to bottom
1 Dark_Falcon  Mon, Nov 26, 2012 5:38:23am

Nope. The GOP should hold the line and make clear that either tax rates are agreed to for all brackets or no deal. This is just more round of 'Donk Rope-a-Dope' and Republicans should refuse to play.

2 ReamWorks SKG  Mon, Nov 26, 2012 6:04:56am

I can't see why all the Bush Era tax cuts can't expire. Not just the ones on the most productive Americans. Aren't we all in this together?

Here's what they were, for those of you with short memories


a new 10% bracket was created for single filers with taxable income up to $6,000, joint filers up to $12,000, and heads of households up to $10,000.
the 15% bracket's lower threshold was indexed to the new 10% bracket
the 28% bracket would be lowered to 25% by 2006.
the 31% bracket would be lowered to 28% by 2006
the 36% bracket would be lowered to 33% by 2006
the 39.6% bracket would be lowered to 35% by 2006

When liberals whine "END THE BUSH TAX CUTS" they never mean all of them, just the ones on the most productive among us.

I say, end them ALL!

3 Vicious Babushka  Mon, Nov 26, 2012 6:06:36am

re: #2 ReamWorks SKG

I can't see why all the Bush Era tax cuts can't expire. Not just the ones on the most productive Americans. Aren't we all in this together?

Here's what they were, for those of you with short memories

a new 10% bracket was created for single filers with taxable income up to $6,000, joint filers up to $12,000, and heads of households up to $10,000.
the 15% bracket's lower threshold was indexed to the new 10% bracket
the 28% bracket would be lowered to 25% by 2006.
the 31% bracket would be lowered to 28% by 2006
the 36% bracket would be lowered to 33% by 2006
the 39.6% bracket would be lowered to 35% by 2006

When liberals whine "END THE BUSH TAX CUTS" they never mean all of them, just the ones on the most productive among us.

I say, end them ALL!

Top wealthiest Americans != "most productive"!

4 aagcobb  Mon, Nov 26, 2012 6:32:31am

re: #2 ReamWorks SKG

I can't see why all the Bush Era tax cuts can't expire. Not just the ones on the most productive Americans. Aren't we all in this together?

Here's what they were, for those of you with short memories

a new 10% bracket was created for single filers with taxable income up to $6,000, joint filers up to $12,000, and heads of households up to $10,000.
the 15% bracket's lower threshold was indexed to the new 10% bracket
the 28% bracket would be lowered to 25% by 2006.
the 31% bracket would be lowered to 28% by 2006
the 36% bracket would be lowered to 33% by 2006
the 39.6% bracket would be lowered to 35% by 2006

When liberals whine "END THE BUSH TAX CUTS" they never mean all of them, just the ones on the most productive among us.

I say, end them ALL!

Bad idea. The economic recovery is fragile, and imposing new taxes on the middle class right now accomplishes nothing except sucking money out of the economy, which could tip us into another recession. However, rates may have to temporarily rise in January for the GOP to get the message from angry taxpayers to quit holding them hostage for the 1% and pass a middle class tax cut already.

5 Randall Gross  Mon, Nov 26, 2012 6:57:06am

It's all about dispersed money: if you cut the middle class cash, they cut back on buying, and the economy dips again. The world goes into double dip recession. If you want to see the effects, look at the Europeans and their increased Austerity. We don't need that kind of unemployment and rioting here.

6 watching you tiny alien kittens are  Mon, Nov 26, 2012 7:51:58am

re: #2 ReamWorks SKG

Middle class incomes have declined in the meantime while those of the top 1% have climbed dramatically. Until middle income workers see some wage growth your suggestion is actually counter-productive if the goal is to increase Federal revenue. Most families now live paycheck to paycheck with little to no savings, 64% have less than $500.00 in savings set aside. This means that every dollar removed from their checks through tax withholding is exactly one dollar less spent on purchasing manufactured goods or food products.

Removing that money flow will cause a direct decline in orders for goods from retailers and a corresponding decline in goods produced by manufacturers. The volume of sales and therefore net profits for businesses will decline across the board. This will result in further downsizing by companies which in turn will decrease the money flow even more while increasing the unemployment benefit burden on the government.

This decrease in the GDP (recession) will shrink the Federal Tax base and ultimately result in less taxes being collected from businesses and individuals while increasing Federal expenses. Raising taxes on the bottom 97% of wage earners would, at least for right now, result in the opposite of the desired outcome. The numbers on this are solid and verifiable, they are not biased towards the "97%" or made up for propaganda purposes.

7 Political Atheist  Mon, Nov 26, 2012 10:21:04am

re: #4 aagcobb

Bad idea. The economic recovery is fragile, and imposing new taxes on the middle class right now accomplishes nothing except sucking money out of the economy, which could tip us into another recession. However, rates may have to temporarily rise in January for the GOP to get the message from angry taxpayers to quit holding them hostage for the 1% and pass a middle class tax cut already.


They are not new taxes.
They are the taxes of the best boom we had in my lifetime. A case can be made for letting the temporary cuts run out. Perhaps over time. Or have we forgotten what temporary means?

8 watching you tiny alien kittens are  Mon, Nov 26, 2012 11:12:02am

re: #7 Political Atheist


They are not new taxes.
They are the taxes of the best boom we had in my lifetime. A case can be made for letting the temporary cuts run out. Perhaps over time. Or have we forgotten what temporary means?

See my response to this on your Page, the best current option is to extend the cuts, except for those on the top wage bracket, for up to an additional two years, no more.

9 aagcobb  Mon, Nov 26, 2012 11:13:22am

re: #7 Political Atheist


They are not new taxes.
They are the taxes of the best boom we had in my lifetime. A case can be made for letting the temporary cuts run out. Perhaps over time. Or have we forgotten what temporary means?

Notice I said we shouldn't impose new taxes on the middle class right now (and I understand the tax cut was supposed to expire). Certainly a case could be made to let the Bush Tax Cuts for the middle class expire once the recovery is strong enough to bring us back to full employment. But it would simply be stupid to let the tax cuts on the middle class expire right now, as has been explained in the posts to this thread. There are still millions of people without jobs.

10 Vicious Babushka  Mon, Nov 26, 2012 11:13:42am

re: #7 Political Atheist


They are not new taxes.
They are the taxes of the best boom we had in my lifetime. A case can be made for letting the temporary cuts run out. Perhaps over time. Or have we forgotten what temporary means?

The tax cuts can run out for the highest earners, but the lower earners are still hurting and letting the tax cuts expire for them would just hurt them more.

11 Political Atheist  Mon, Nov 26, 2012 11:19:31am

re: #10 Vicious Babushka

I am one of those lower earners. I did fine on that tax rate. It's not going to make a difference on the same scale as say my wife getting a job at her old pay scale, which was just a few bucks over minimum. Heck a stable gold pricw would increase my income more than the tax difference. It's trivial compared to wages or employment improving more than a smidge.

But hey whatever it takes to avert a real crisis.

12 jamesfirecat  Mon, Nov 26, 2012 6:21:51pm

re: #1 Dark_Falcon

Nope. The GOP should hold the line and make clear that either tax rates are agreed to for all brackets or no deal. This is just more round of 'Donk Rope-a-Dope' and Republicans should refuse to play.

"Donk". Really DF, really?


This page has been archived.
Comments are closed.

^ back to top ^

TwitterFacebook

Turn off all ads for a full year by subscribing!
For about 33 cents a day (per month) or 22 cents a day (per year), our subscription option turns off all advertisements at LGF!
Read more...

► LGF Headlines

  • Loading...

► Tweeted Articles

  • Loading...

► Tweeted Pages

  • Loading...

► Top 10 Comments

  • Loading...

► Bottom Comments

  • Loading...

► Recent Comments

  • Loading...

► Tools/Info

► Tag Cloud

► Contact

You must have Javascript enabled to use the contact form.
Your email:

Subject:

Message:


Messages may be published unless you request otherwise.
Tech Note:
Using the Contact Form
LGF Pages

This button leads to the main index of LGF Pages, our user-submitted articles. You can post your own LGF Pages simply by registering a free account with us.

Create a Page

This is the LGF Pages posting bookmarklet. To use it, drag this button to your browser's bookmark bar, and title it 'LGF Pages' (or whatever you like). Then browse to a site you want to post, select some text on the page to use for a quote, click the bookmarklet, and the Pages posting window will appear with the title, text, and any embedded video or audio files already filled in, ready to go.

Or... you can just click this button to open the Pages posting window right away.

Last updated: 2014-03-07 2:19 pm PST

LGF User's Guide
Recent Pages
_RememberTonyC
Qatar, Bergdahl, and Hamas
One thing we have learned in the current conflict is that Hamas has three main sponsors: Turkey, Iran, and Qatar. So when Bergdahl was released and the five taliban bigs were released into the "custody" of Qatar, we basically handed ...

9 hours, 19 minutes ago
Views: 87 • Comments: 0
Tweets: 0 • Rating: 0
Randall Gross
Android Crypto Blunder Exposes Users to Highly Privileged Malware
The majority of devices running Google's Android operating system are susceptible to hacks that allow malicious apps to bypass a key security sandbox so they can steal user credentials, read e-mail, and access payment histories and other sensitive data, ...

20 hours, 17 minutes ago
Views: 208 • Comments: 0
Tweets: 10 • Rating: 1
Skip Intro
Outside Money Drives a Deluge of Political Ads
WASHINGTON -- An explosion of spending on political advertising on television -- set to break $2 billion in congressional races, with overall spots up nearly 70 percent since the 2010 midterm election -- is accelerating the rise of moneyed ...

1 day, 19 hours ago
Views: 198 • Comments: 1
Tweets: 4 • Rating: 3
Rightwingconspirator
Washington, D.C., Handgun Carry Ban Is Ruled Unconstitutional
I agree. Bans are not an option. Jurisdictions like DC will just have to deal with the fact that regulation is the path. Bans don't work. Bans are illegal and unwise. It's simple. we as a society have chosen to ...

2 days, 15 hours ago
Views: 510 • Comments: 95
Tweets: 1 • Rating: 5
Romantic Heretic
Preventing Poverty Not Allowed As A Goal for Charity
The Canada Revenue Agency (Canada's equivalent of the IRS) has told OXFAM Canada that it cannot list 'preventing poverty' as a goal, only 'alleviating' it. The reason is "Relieving poverty is charitable, but preventing it is not." This is just ...

4 days, 16 hours ago
Views: 476 • Comments: 12
Tweets: 0 • Rating: 4
FemNaziBitch
Safer Era Tests Wisdom of ‘Broken Windows’ Focus on Minor Crime
While the apparent chokehold fueled much of the initial public outcry, community leaders have begun asking whether focusing police officers so intently on such petty offenses makes sense in a city that is far different and far safer than ...

4 days, 23 hours ago
Views: 360 • Comments: 2
Tweets: 0 • Rating: 1
Mentis Fugit
Frisson
Over at the quirky Riddled blog, I encountered this music video link. I have the album, but I had last listened long ago, and I had forgotten the lyrics. The lengthy, moody intro slowly drew me back thirty five years, ...

1 week ago
Views: 265 • Comments: 0
Tweets: 0 • Rating: 0
BadExampleMan
The painful futility of war
This makes me furious. These men pledged their loyalty to their country and their country betrayed them. It treated them as disposable, throwing their lives away in a war that was premised on lies, that was chosen gleefully, and that ...

1 week, 2 days ago
Views: 434 • Comments: 0
Tweets: 1 • Rating: 1
MichaelJ
Mick Fanning Wins J-Bay Open 2014
More: MICK FANNING WINS J-BAY OPEN Finals day for the contest was run in perfect Supertubes conditions. Too bad Kelly Slater and Jordy Smith were eliminated in lesser quality surf - it would have been amazing to have both of ...

1 week, 2 days ago
Views: 349 • Comments: 0
Tweets: 0 • Rating: 2
Thrazidun
Paris: Jews Fight Back Against Islamist Mob - Jewish World - News - Arutz Sheva
More: Paris: Jews Fight Back Against Islamist Mob - Jewish World - News - Arutz Sheva

1 week, 4 days ago
Views: 1,012 • Comments: 5
Tweets: 0 • Rating: 2
 Frank says:

You wouldn't know a revolution if it bit you on the dick. -- In response to a young crowd member continually shouting "Revolution" between songs at a late 60's gig. The gig was at Middle Earth in Indianapolis, Indiana.