What we really need is a complete and total restructuring of the income tax system--I'd start with the Steve Forbes no-loophole 17.5% flat-rate income tax proposal at minimum for the reform.
Posted on 09/18/2011 4:22:34 AM PDT by Cincinatus' Wife
“I think the numbers have been run on this and it won’t make a big difference. Does this administration have anyone that checks this crap out?”
As poster Castigar points out, this proposal is all about demagoguery - it has nothing to do with bringing the country’s finances in line.
In recent years, income tax revenues have run about 1.1 trillion dollars; in recent years, deficits have run about 1.4 trillion dollars. If you doubled everybody’s tax rates, you’d pull in an additional 1.1 trillion dollars - nowhere near enough to cover the 1.4 trillion shortfall.
In other words, you could DOUBLE EVERYONE’S taxes - mine, yours, Buffet’s, Matt Damon’s, Michael Moore’s, etc, and we’d still be running a substantial deficit. A small tweak on the taxes of millionaires (not even doubling them) will have almost no effect.
What needs to be repeated until it sticks: we don’t have a revenue problem - we have a spending problem.
(And by the way, I’ll bet Buffett pays the accountants who keeps his taxes at 17% more than he pays his sorry-assed secretary).
Republican leaders already have balked at the president's suggestion to help pay for his proposed $447-billion jobs package by closing some loopholes and eliminating deductions for some industries as well as for families earning more than $250,000 a year.
Republicans had better be careful.
Perception trumps facts with the people.
“He wants the party to be seen as mainstream
This is the problem to start with. The abandonment
of the very principles that made the party in the
first place. Mainstream is a bad word in conservative
speak. When you abandon your principles you are then
called a democrat. Why is that so difficult to understand?
Small business will be hit by this (those that are still in business) and it will drive more into bankruptcy.
Ok CW I may get flamed but, there is a good point here.
Millionaires and Billionaires have way too may loopholes. I think we should close those loopholes and tax the heck out of any company sending jobs overseas, especially in manufacturing. That saying, we also have to somehow neuter the stranglehold the unions have in that industry.
The same thing goes for the other end of the spectrum. The lower income folks should have to pay something, even if it’s a dollar per pay period. Skin in the game so to speak.
The sad fact is that will be effective with many.
If you doubled the amount of income tax EVERY American paid last year you would have still had a half Trillion dollar deficit. That is a 100% increase on every taxpayer!!!
That's what I've thought too in recent weeks. Unfortunately, many, even in the Republican party, would see this as "caving", and thus if there were a hint of such a strategy, they'd get swamped with thousands of angry calls and mail threatening reprisals at the ballot box if they did.
It is unfortunate because this strategy is truly the best way to combat what Obama is trying here. He has no expectation that his bill will pass, and fully intends to blame the Republicans for partisan obstructionism as the reason the economy is in the tank. And the gullible "moderates/independents" who don't pay attention to politics except for tue few months before election day (if even that) will believe it, helped by the MSM of course.
All of this can be easily avoided by doing what you suggest, but too many aren't thinking two or moves ahead to realize it. I'm just hoping there is enough turnout of the base and others that are paying attention to offset such ignorance. I think there should be, but it's a shame we have to bet on that when we have a golden opportunity to nail the Socialist to the wall with his own failing policies. You'd think there should be enough already, bit this country has the attention span of a flea.
The sad fact is that will be effective with many.
Sad but true, ignorance is a most difficult disease to
overcome.
-——When you abandon your principles you are then
called a democrat-——
And while living a principled life, you are called a RINO
RINO creep is hacking away at conservative credibility
The only purpose is to successfully portray the R's as being against the common man. It's a political calculation and, personally, I think it's a good strategy for them. Good as in: has the potential to be successful.
Indeed, the R's need to counter this VERY carefully.
Tax the Millionaires and Billionaires, you know - the ones making over $250,000/yr.
Sweet
that irascible old fart deserves to have his friend obama name something after him
What we really need is a complete and total restructuring of the income tax system--I'd start with the Steve Forbes no-loophole 17.5% flat-rate income tax proposal at minimum for the reform.
“I think the numbers have been run on this and it won’t make a big difference. Does this administration have anyone that checks this crap out?”
One of the Solyandra articles said, “The loan wasn’t about profit. It was about appealing to a constituency; it was about politics.” Well, this isn’t about trying to solve the financial crisis. This is about appealing to the anti-wealth crowd. Who, BTW, are often quite well off. They just don’t see themselves as the “real” wealthy who own slaves, rape tenant’s children and starve workers to death. Although, these same people support Castro and Saddam Hussein, Paul Pot, and Mao who have done all of the above.
Who do you think is advising O to run all over the country with this pass this bill now crap??? No one is even paying attention to him, not even his own party.
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