Posted on 11/16/2011 2:15:08 AM PST by markomalley
To clarify: there are any number of PRO GROWTH tax reforms that would generate higher revenues as a growth dividend scoreable by the CBO. Capital gains taxes are the textbook example: we have repeatedly generated higher tax returns by cutting the capital gains tax rate. This simply means that capital gains taxes have been above the point of diminishing returns on the Laffer Curve. There are many aspects of the tax code that retard investment and growth. Eliminating these would increase growth and revenues. I hope that is what Boehner has in mind, but I await the details.
if they’re going to increase taxes, tax warren buffet and george soros. Close the loopholes for them. Increasing income taxes were always a red herring since they don’t pay themselves income and any tax increases never effect them
Apparently you can’t read the story. Its not Democrats who are proposing a tax increase. Its Republicans!
Defending Boehner isn’t winning you friends on here.
We need to see the specifics of what Boehner is endorsing. The liberals use tax policy for myriad objectives unrelated to revenue raising. Remember Obama's celebrated remark during the campaign when he acknowledged that he would be in favor of higher capital gains taxes even if the higher rates reduced revenue, in order to promote "fairness." If Boehner is proposing pro-growth tax reform, I would not be surprised if he is scoring higher revenues as part of the package. There is nothing wrong with that. This is not sophistry. It is a simple recognition that our tax code is a dysfunctional monstrosity.
You know that a millionaires tax is the oldest form of class warfare.
A month ago Bill Gates said that if the income of every rich person in America was confiscated, it won’t make a dent in the deficit.
Its hilarious to find some conservatives embracing the “distribute the wealth” meme.
What’s next? Supporting more porkulus and Obamacare?
Strike Three! You’re out.
some people don’t read the articles on FR, just the misleading headlines. They claim they don’t believe the LSM yet they jump at every article from them.
Very true.
If there were tax cuts, the story would have said do!
I have no problems with that. What I do have a problem with is your making it seem like a tax increase is something we can live with.
I don’t accept that position.
Higher “revenues” or “fees” or “caps on tax expenditures” or “closing loopholes” = raising taxes. I don’t care how they parse it
If the IRS demands another $300 or more a month of our income, the GOP and the democrats together have taken more wealth from the American people and have raised taxes
period
We says it’s spinach. and we say to hell with it
(to these oligarch clowns, more money = more spending! NOT deficit reduction)
If the headline is not true - we should be hearing denials from the GOP leadership.
Whatever is going on in private talks, its not a good sign.
Of course, on "loopholes," I want to keep mine while closing yours, so only some loophole closing is acceptable.
We’ll see higher taxes but we won’t see spending cuts.
As long as I’ve been alive government has kept on growing. I don’t expect that to change in the future.
Regardless of what deal emerges from the Super Committee.
If you want my taxes increased, well I can see why you would be happy.
Would you mind if I closed your loopholes? And would you like to pay the higher rate?
I gather you’d change your tune.
It's not parsing words. It's taking away the power of the government, through the tax code, to pick winners and losers. Most ordinary income earning people are getting taxed to death, yet GE pays no tax on $5 billion in profits? Throw the yellow flag. Soros allegedly pays a lower effective rate on his earnings than his secretary because of the types of earnings he has and all of the shelters. That's crap.
The tax code, as I understand it, is over 10,000 pages. Most of the tax code does nothing but cater to various special interest and lobbyist groups. That's rediculous. Lets deal with the tax code first.
Show me where rates will increase and failing that which you will, show me the difference between eliminating deductions to increase revenue and the flat tax plan which depending on whose you look at will RAISE rates to 20% for some while lowering them from 35% for others while eliminating almost ALL deductions.
BTW, this is being selectively reported on as to the specifics but I do agree that big spending cuts need to accompany any other sources of revenue increases.
ps - I'm not trying to win friends, or for that matter, alienate anyone. I'm simply pointing out that there is a huge difference between tax code changes, and tax rate changes.
Riddle me this batman, were you against the tax rate cuts by JFK, Reagan or George W Bush? All three of those tax rate cuts increased tax revenues into the coffers of the federal government!!!
The BIG loopholes are the mortgage interest deduction, the non-taxable status of employer contributions to employee health and pension plans, and tax exempt municipal bonds. Howzabout we close those.
I'm in favor of a clean sweep tax reform that gets rid of all of 'em in return for significantly lower rates. I suspect we agree about that.
Will never happen.
Or it will happen to programs the GOP wants to protect.
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