Author Topic: We Can't Afford the Bush Tax Cuts  (Read 1796 times)

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RoboPoster

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We Can't Afford the Bush Tax Cuts
« on: August 02, 2010, 02:30:04 AM »
We Can't Afford the Bush Tax Cuts
                                       


 Fareed Zakaria, Newsweek
For the last few months, we have heard powerful, passionate arguments about the need to cut America's massive budget deficit. Republican senators have claimed that we are in danger of permanently crippling the economy. Conservative economists and pundits warn of a Greece-like crisis, when America can borrow only at exorbitant interest rates. So when an opportunity presents itself to cut those deficits by about a third"”more than $300 billion!"”permanently and relatively easily, you would think that these very people would be in the lead. Far from...

http://www.realclearpolitics.com/2010/08/01/we_can039t_afford_the_bush_tax_cuts_238789.html

Universe Prince

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Re: We Can't Afford the Bush Tax Cuts
« Reply #1 on: August 02, 2010, 04:35:45 PM »

We Can't Afford the Bush Tax Cuts


That is complete nonsense. What we cannot afford is the out-of-control spending that the U.S. Congress has been doing for at least the past decade. Only a fool declares that a budget deficit caused by massive overspending is solved by raising taxes. That's sort of like an alcoholic declaring that the problems caused by his over drinking would be solved by having someone else buy the drinks.
Your reality, sir, is lies and balderdash and I'm delighted to say that I have no grasp of it whatsoever.
--Hieronymus Karl Frederick Baron von Munchausen ("The Adventures of Baron Munchausen" [1988])--

Kramer

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Re: We Can't Afford the Bush Tax Cuts
« Reply #2 on: August 02, 2010, 04:52:02 PM »

We Can't Afford the Bush Tax Cuts


That is complete nonsense. What we cannot afford is the out-of-control spending that the U.S. Congress has been doing for at least the past decade. Only a fool declares that a budget deficit caused by massive overspending is solved by raising taxes. That's sort of like an alcoholic declaring that the problems caused by his over drinking would be solved by having someone else buy the drinks.

If what you are saying is true then why would our Congress & president be so derelict? Is this an impeachable offense?

Universe Prince

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Re: We Can't Afford the Bush Tax Cuts
« Reply #3 on: August 02, 2010, 05:20:10 PM »
Whom would you impeach? The entire U.S. Congress?

Why would Congress be so derelict? Because we let them. Representative Paul Ryan has been pushing a good plan for cutting U.S. government spending. He has found little support in Congress. Why? Because Republican and Democratic politicians are convinced support for the plan will prevent reelection. The U.S. Congress spends as it does because we let them get away with it. Why? Because we make dumbass arguments like, "but we can't let the Democrats/Republicans win." So we keep voting for people who by and large end up supporting massive government spending and we never hold them accountable. We let Congress refuse to reign in spending because we can't talk about cutting spending on programs like Medicaid or Welfare, or because we refuse to discuss the possibility that U.S. military and U.S. law enforcement spending is done in massively inefficient ways. The U.S. government "awards" this or that contract for building this or that thing for the military often not because the military needs it but because it wins votes for the Senator and/or Representative in whose state the thing is built. Then there is the war on poverty. The war on drugs. "We need a wall on the border." Oh, and perhaps the one in most favor right now, job creation. Every politician has a plan for how to spend lots and lots of taxpayer dollars to create jobs, as if the government can actually create jobs in the private sector. So we keep voting people into office, at all revels really, who run on how they are going to spend money and how they are going to protect and grow other spending programs. Until that changes, impeaching Congress would do no good at all.
Your reality, sir, is lies and balderdash and I'm delighted to say that I have no grasp of it whatsoever.
--Hieronymus Karl Frederick Baron von Munchausen ("The Adventures of Baron Munchausen" [1988])--

Kramer

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Re: We Can't Afford the Bush Tax Cuts
« Reply #4 on: August 02, 2010, 05:37:28 PM »
Whom would you impeach? The entire U.S. Congress?

Why would Congress be so derelict? Because we let them. Representative Paul Ryan has been pushing a good plan for cutting U.S. government spending. He has found little support in Congress. Why? Because Republican and Democratic politicians are convinced support for the plan will prevent reelection. The U.S. Congress spends as it does because we let them get away with it. Why? Because we make dumbass arguments like, "but we can't let the Democrats/Republicans win." So we keep voting for people who by and large end up supporting massive government spending and we never hold them accountable. We let Congress refuse to reign in spending because we can't talk about cutting spending on programs like Medicaid or Welfare, or because we refuse to discuss the possibility that U.S. military and U.S. law enforcement spending is done in massively inefficient ways. The U.S. government "awards" this or that contract for building this or that thing for the military often not because the military needs it but because it wins votes for the Senator and/or Representative in whose state the thing is built. Then there is the war on poverty. The war on drugs. "We need a wall on the border." Oh, and perhaps the one in most favor right now, job creation. Every politician has a plan for how to spend lots and lots of taxpayer dollars to create jobs, as if the government can actually create jobs in the private sector. So we keep voting people into office, at all revels really, who run on how they are going to spend money and how they are going to protect and grow other spending programs. Until that changes, impeaching Congress would do no good at all.


That's a sad assessment of yours. If Ryan got elected then we need people like him to run at every city and state election. I believe the sleeping giant is wide awake and a shit-storm is going to hit in November. After the new Congress convenes I hope they de-fund everything possible in the budget and then some.

Universe Prince

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Re: We Can't Afford the Bush Tax Cuts
« Reply #5 on: August 02, 2010, 11:49:00 PM »
I think you're being overly optimistic about that. Don't get me wrong. Change is happening. But it ain't happening that fast.
Your reality, sir, is lies and balderdash and I'm delighted to say that I have no grasp of it whatsoever.
--Hieronymus Karl Frederick Baron von Munchausen ("The Adventures of Baron Munchausen" [1988])--

mirstnkim

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Re: We Can't Afford the Bush Tax Cuts
« Reply #6 on: August 03, 2010, 01:14:36 AM »
How can this country affort not to keep the cuts in place.  Have you not looked at your pay check as of late?  Do you remember what the rates where prior to the cuts?
Here are a few examples of what will happen.

25% rate goes to 27%
28% rate goes to 30%
33% rate goes to 35%
35% rate goes to 38.6%


Reasons to extend the 2001 and 2003 Bush tax cuts for all income levels:

• 75 percent of small-business owners use individual tax rates for federal income taxes.

• Small businesses that pay at the two top two rates are estimated to employ 25 percent of the American workforce.

• Small businesses create 66 percent of net new jobs.

• In 2011, 750,000 taxpayers with net business income would pay the highest marginal rates. Their returns would include about 50 percent of the $1 trillion of total net business income.

• If the Bush tax cuts expired, some small businesses would pay a tax rate higher than Fortune 500 companies.

• Small businesses create more jobs than major companies.

SOURCES: National Federation of Independent Business; The Wall Street Journal


sirs

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Re: We Can't Afford the Bush Tax Cuts
« Reply #7 on: August 03, 2010, 01:28:53 AM »
MISS KIM !!!!   



Hooooraaaaaaaaa
"The worst form of inequality is to try to make unequal things equal." -- Aristotle

Plane

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Re: We Can't Afford the Bush Tax Cuts
« Reply #8 on: August 03, 2010, 03:40:18 AM »
How can this country affort not to keep the cuts in place.  Have you not looked at your pay check as of late?  Do you remember what the rates where prior to the cuts?


Hoooooray Mirstnkim!