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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?


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