Posted on 09/20/2011 4:45:15 AM PDT by tobyhill
CNN business correspondent Christine Romans claimed Monday that "any serious budget expert's analysis" concludes that taxes must increase. During CNN's coverage of President Obama's address concerning his deficit reduction plan, Romans asked not if, but when Republicans should get on board with his proposals.
"So at what point do Republicans say, okay, we agree that taxes have to go up, and here's what we'll agree to?" Romans posed to former Bush CBO director, Douglas Holtz-Eakin.
According to Romans, President Obama's proposal to raise taxes on millionaires is just fine. "So what's wrong with raising taxes for that crowd so they're paying the same on their overall income as a middle class family? I mean, what's wrong with raising taxes on just that sliver of the rich?" she asked innocently.
President Obama's tax hikes on millionaires mirrors Warren Buffett's "rule," which Romans referenced several times. Buffett has famously advocated that he and other wealthy investors should pay higher taxes.
Romans added that "this is the core of the Buffett Rule is that there are some people in this country who make an awful lot of money with their money, not with their hands. I guess you could argue it's with their brains, but you know your work is taxed differently in this country, that the people who work for Warren Buffett have a 35 percent tax rate."
(Excerpt) Read more at newsbusters.org ...
Queue the EBT rap.
I’m a “budget expert” and I say phooey to that - cut spending, wean people off the public dole, quit over-regulating business, cut corporate taxes, and cut government waste. That’s a start.
Taking money from the millionaires and billionaires to fix this problem is like putting a band aid on a bullet wound. Stop spending! Abolish the EPA, NEA, PBS and 20 other socialist FDR, LBJ programs. Problem solved.
If Solyndra hasn't taught this lady that Warren Buffet is a better investor of Warren Buffet's money than Barak Obama, she is a recalcitrant moron.
You must be a rightwing wing nut....
I’m proud of you...
No instead of stopping the bleeding, they are tell the patient to keep eating and drinking, you just need more fluids, ignore the hemorrhage....
even liberals know you don’t raise taxes during a recession.
they have lost their minds.
I’m a budget expert and I say rubbish to this article.
Here’s a question not one left wing kook can answer and they will always change the subject.
When you have no money at your house, you’re in debt do you go out and borrow more money to get out of debt or do you do cuts like not going out to eat, buying that pair of shoes etc?
I guarantee not one left wing kook will answer it because they know damn well you don’t spend to get out of debt and only a fool would think so.
Oh hang on that’s why they call him zero.
Zero for zero jobs, zero brains, zero common sense, zero hard work the list is endless
You mean the kind of budget ‘experts’ that have guided the nation into this mess in the first place?
that the people who work for Warren Buffett have a 35 percent tax rate.”
Bogus nonsense. His secretary...the one they are so proud to mention...probably does not pay 35%. A TRUE secretary like the one they want you to think of would at best be around 28% and probably less and may not pay much of anything.
Idiots abound...but no one will call them out. Pubbies, it seems, are perfectly content to allow themselves to be hammered on this and not respond with a coherent message that refutes this idiocy.
I am a true budget expert. Educated in economics, accounting, financial planning, free economy principles. I studied global economics. Been doing this for 40 years.
Where, You ask? I have a checkbook. I buy things. I sell things. I didn’t learn economics from a Marxist at Princeton. I learned them from everyday life, running a family and a business.
There is one true rule to economics. You make 100 dollars, you can spend up to 100 dollars. Spend 101 and you just destroyed your family. Maybe not today, but in 5,10,20 years.
Welcome to America.
You mean those serious experts that got us here in the first place?
Pray for America
CNN and the MSM continue to play the “if you don’t agree with me, you’re not a serious expert” card.
Federal revenue DECREASES, when tax rates increase, because the incentive for hiring, risk taking, and investment is DESTROYED with higher taxes.
Consider a couple in their 50’s making over $300K/yr. facing higher taxes:
Wife adds a business partner, which reduces her personal and corporate income.
Husband retires early.
No net new employees in the economy.
Less net Federal revenue, even among the 3 in this example.
For what it is worth, government debt is not like personal debt and can even be a good thing, in moderation.
If there were no national debt, or the debt was under control increasing spending at around 3 to 5 percent could be done without taxes of any kind.
But of course we aren’t in that situation and the debt and future obligations are out of control. My calculations show that we are going to be facing government default in less than 10 years or hyperinflation, take your pick.
Anyone with an IQ above room temp. knows that at this point raising taxes will actually reduce revenues... So just what is the goal here?
CONTROL THE MEME...
CONTROL THE MEME...
CONTROL THE MEME...
Don’t even MENTION spending cuts as a possibility, because Democrats are POWERLESS without other people’s money to spend.
CONTROL THE MEME...
CONTROL THE MEME...
CONTROL THE MEME...
Whe will people realize having hundred of thousand of workers who contribute nothing to society except useless paper is a waste?
Abolish, NEA, DOT, DOE, USACE, USAID, HHS and a myriad of other quota creating job opportunities.
Ok, maybe taxes must go up . Thats not the same, neccessarily, as saying that tax RATES must go up, however. Thats something that is hardly ever mentioned. When people and businesses make more money, tax receipts invariably go up. More income=more taxes. We need to unleash this economy, tax RATE increases can do the exact opposite.
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