Click the Pic
Support Free Republic
Posted on 11/16/2011 2:15:08 AM PST by markomalley
Unless you have a source to confirm that; I think you are confusing an example widely attributed to Warren Buffet NOT George Soros. The analogy was exposed as disingenuous because it was a comparison of Buffet's Capital Gains Taxes (taxes on investment profits made from money already taxed as income) with Buffet's secretary's Federal Income Tax. It's “apples and oranges” and, even then, the "math" only worked because Buffet pays himself a VERY small salary. Again, the vast majority of Buffet's wealth is accrued from his investments NOT his salary.
Distinction with no difference. Because government does not generate revenue, they obtain it from those that do. Closing loopholes or raising tax rates achieve the same objective; providing government with more funds to spend wildly(See Solyndra).
Closing loopholes has always been in the discussion...that is exactly what simplifying the tax code is about.
Boehner is saying nothing new.
There wiil be no cuts in anything.
But taxes will be raised.
And it takes 2/3 to defeat it, which means we can't stop it.
Boehner needs to step down in disgrace!
That's exactly what this story is about. When you close loopholes, you DO raise revenues.
SSDD...i gladly pay you tuesday, for a hamburger today...
the stupor committee is holding the military hostage, as they wrangle for paper 'cuts' ten yrs out, so of course we must raise, *cough*, revenue today to 'pay' for that...
in my lifetime, theres been a mere handful of times that i can recall a politician being truthful while in office...words during campaigns ring even more hollow...and we are in an era of continual campaigning these days...
Maybe. No one really knows what the hell is going on or what will happen. The only thing I myself can take away from what I am seeing from those inside the beltway is they constitute the greatest concentration of totally useless, self aggrandizing as*holes to ever occupy any measurable geographic space on the entire planet.
Gotta hand it to the dems... evil as they are, they stand their ground hard and don’t give an inch. I have a grudging admiration for their tenacity.
OTOH, I disdain the limp-wristed invertebrates in the GOP, who will always, at the end of the day, cave to pressure.
I totally agree... I'm getting disgusted with the entire bunch. They don't advocate for the American taxpayer...they advocate for themselves.
Read the headline too fast. Thought it said “GOP’s Boehner embraces TAN-raising plan.”
So his RINO crap debt extension deal is playing out as we all knew it would.
Be careful. Pay attention to the source. The MSM does this all the time. You're being "nudged. "
Wait until the real facts come out. "Trust, but verify."
Is this a flat tax? no. Not the same.
“Keep in mind that the extra income from this spending cut, i.e. elimination of tax breaks, would be offset by lowering all the individual tax rates.”
Huh?
What “offset”?
The end sum is that the govt reaps $300 BILLION in revenue
Since when is robbing Peter to pay Paul called an “Offset” (except maybe by Paul)
No it is not a flat tax but from what I see it is not a tax at all. rather it is a closing of loop holes which will increase taxes to be paid which is similar to what the flat tax or the Cain 9-9-9 plan does.
(mho) ... There are reasons nobody in D.C. wants to simplify the tax code. Should the tax code be simplified to a post card type return, the IRS would lose power (a good thing), and accountants and tax lawyers would be out of a job. There is a huge industry of tax preparers, who would also be out of a job. There are upsides to reducing regulation within the tax code to create simplification, though those who hold the power of the purse, would rather exempt some and write more laws to increase their control over businesses and people rather than to allow freedom to slip into the system. After all, the system, is too big to relinquish power to those who pay the taxes (according to the system) ... at least this is what D.C. believes. Have heard this discussion of simplification of the tax code for over thirty five years. The discussion has always gone nowhere. Control (power) is something D.C. will never give up, and control and power come from controlling who pays and who does not pay taxes. (mho)
What are the details on “revenue raising”?
Is it selling off federal assets, or is it auctioning oil drilling permits, or is it raising tax rates?
I want details before I condemn this action/position.
This can be TOTALLY solved with term limits, and I mean TOTALLY!!
One 4 or 6 year term with no hope of re election will get these scumbags to quit running for re election from the day they are sworn in and instead advocate for the people who put them there.
They should get NO retirement package at all pay for their health insurance like the rest of us do. In lieu of the golden parachutes these vermin now get I advocate a tax free salary of about 1.5-2.5 million annually out of which they pay ALL their own expenses as well as their immediate staffing needs.
This would amount to a huge overall savings to the tax payers since the ridiculous pensions and health benefits they and their families get forever would be eliminated.
The main benefit would be we would see exactly what these officials are all about because with no chance of re election they would be put in a position of not fearing doing what they believe is the RIGHT thing to do as opposed to doing what they may not agree with but which is being done to get re elected as they do now.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.