Poll: Should All Of The Bush Tax Cuts Be Extended?
President Obama has said he will veto legislation that extends the tax cuts for those with incomes over $250,000.
President Obama said he would veto legislation that would extend all of the Bush-era tax cuts, Fox news reported.
Obama has proposed extending the tax cuts for families earning less than $250,000 for another year, the Chicago Tribune reported. Obama said it would be imprudent to extend all of tax cuts – including those for upper income earners – because they were a major driver of the budget deficit (Note: Obama's complete remarks are attached to this story).
"By the way, these tax cuts for the wealthiest Americans are also the tax cuts that are least likely to promote growth," Obama said. "So we can't afford to keep that up, not right now. So I'm not proposing anything radical here. I just believe that anybody making over $250,000 a year should go back to the income tax rates we were paying under Bill Clinton."
Obama said his plan still would maintain the cuts for 98 percent of Americans.
The tax cuts will expire for all Americans without congressional action on Jan. 1, the Tribune reported. Politico reported that Republicans in the House are planning a vote later this month to extend the tax cuts across the board for one year, something Obama says he would veto.
Senate Minority leader Mitch McConnell, R-Kentucy, said Obama's plan was based on politics, not economics. USAToday quoted McConnelll as saying "In the Obama economy, we need policies that are designed to create jobs. Not designed to protect his."
The newspaper also quoted House Speark John Boehner, R-Ohio: "How will these small business tax hikes create jobs?"
Obama said the plan would not hurt small businesses: "The proposal I make today would extend these tax cuts for 97 percent of all small business owners in America. In other words, 97 percent of small businesses fall under the $250,000 threshold. So this isn’t about taxing job creators, this is about helping job creators."
bb
6:18 am on Sunday, July 15, 2012
I run a small business and have a profit of well over 250k per year. However the salary that I pay myself is only 40k per year. The remaining profit it used to buy more and more inventory and other items that aren't tax write offs so that I can grow the business (20percent each year). Even though all my profit goes back into growing the business I will still be taxed because the business profit passes into my personal tax return under subchapter s. This tax will definitely slow our growth and the number of new people I hire which last year was quite a few. I think obama has no idea of how to get businesses to hire new people. This tax will reduce hiring as I am someone who actually creates jobs and I can tell you this for a fact. Should only tax people who take the money out of the business and not those who leave the profit in the business to expand and hire more people.
Brad Faxton
7:01 am on Sunday, July 15, 2012
bb - this will not impact you.
Willie Wilmette
9:04 am on Sunday, July 15, 2012
Brad - that is what they want you to believe. I think bb understands Chapter S taxes better than you.
Dan Arenov
11:50 am on Sunday, July 15, 2012
the evil businesses run by evil rich people will start hiring when they know for sure that obamacare is overturned and corporate tax rates are cut, as we have the highest corporate tax rates in the world.
Obama is concerned about gay marriage and his next fundraiser.
TJ Wheeler
12:50 pm on Sunday, July 15, 2012
If you are using those profits to reinvest in the business (for example, buying things you can deduct), hiring more people, spend money on advertising, etc.... this will not apply. Just keep your W2 income and SubS pass-through income under $250k. I'm in the same boat as you -- I just know how to manage the income and make necessary investments to grow the wealth and value of the business, the family, and the retirement. If I get to the point where I can I have no problem being over $250k/year of our AGI, then by all means I don't have a problem being taxed on it.
Ginny Stanton
12:48 am on Saturday, July 21, 2012
This is an issue that should be researched by small business owners (using the publications of the Internal Revenue Service). IRS tax codes need examining.
Ben Azeko
3:40 am on Wednesday, October 3, 2012
benjamin
this is free consultation for me.i seek for permission to apply yr method in my business. anyway i am not in us. i am in Ghana where the tax system is different.
Daniel Krudop
6:39 am on Sunday, July 15, 2012
Those making over the $250K should not be so stingy. After all, the money raised will keep our government running for another whopping eight and one-half days.
ebuddha
8:15 am on Sunday, July 15, 2012
It's not about the worthwhile things the govt does with the money, limited though they may be. It's that more than ever under nobama, it's about giving the generationally poor my money and I'm sick of it. It's not about the people who did everything 'right' and are having a run of bad luck. But I am tired of my money going into the black hole on the south side and the backwaters of Mississippi.
Willie Wilmette
9:08 am on Sunday, July 15, 2012
ebuddha - are you a troll? I think that the Feds spend way too much, that the more they spend - the more Illinois loses, and that you are a troll - not the racist SOB you pretend to be.
ebuddha
9:24 am on Sunday, July 15, 2012
How does what I said have anything to do with race?
Stuart Tindall
11:45 am on Sunday, July 15, 2012
Huh, my dog is howling, but I can't tell why.
Richard Schulte
6:51 am on Sunday, July 15, 2012
President Obama told us that we shouldn't raise taxes in a recession. I agree with President Obama. (The Supreme Court told us that Obamacare was a tax. Based upon President Obama's missive, Obamacare should be repealed because it's a tax increase during a recession.)
Rather than extending the tax rate reductions enacted under President Bush, I think the reduced tax rates should be made permanent. I also think that further income tax rate reductions should be made and that all citizens should be required to file and pay income tax.
Eventually, the income tax and the corporate tax should be eliminated. In order to balance the budget under this scenario, government spending must be reduced. Most government spending is wasteful anyway and eliminating government spending would just be eliminating waste.
davel454
7:22 am on Sunday, July 15, 2012
This poll is worded wrong. The tax cuts would be extended for ALL income earners, not just those making under $250,000/year. What Obama wants to do is extend the tax cuts for all income up to $250,000/year, not all income earners who make up to $250,000.
Those that make over $250,000 will still have their first $250,000 of income be taxed at the same rates (with the Bush tax cuts) as everyone else. It is only income OVER $250,000 that will be impacted. In other words, if someone makes $300,000, the first $250,000 would continue to receive the tax cuts, while the remaining $50,000 would not get the additional tax cut.
Stuart Tindall
7:43 am on Sunday, July 15, 2012
Yes, with our system of marginal tax rates, there is no incentive to make less money in order to pay taxes. Making more income always nets you more money.
Dan Arenov
7:27 am on Sunday, July 15, 2012
will this be another thread where two guys end up with 100 posts apiece as they go back and forth with each other like the affordable health care topic?
J.Lyn
9:12 am on Sunday, July 15, 2012
LMAO....absolutely...just about any topic The Patch poses will be...LMAO : )
Ginny Stanton
12:56 am on Saturday, July 21, 2012
So glad to see dan use the words "affordable health care". It is insulting to be referred to as some action that only the USA president is credited with endorsing. The Republican majority voted for the Affordable Healthcare Act. Let us thank Republicans for the votes and not make this a Republicans against Democrats issue. That is how this is "sounding" to the citizens of USA.
John D. Roach
7:45 am on Sunday, July 15, 2012
I am always amazed at how this topic is over simplified. Taxation is far more complex then what is said in the above article. That being said, taxation should not be driven by wage. Taxes should always be uniform for all economic levels in society and if there are any tax cuts they should have been and should still be uniform for all! Everyone needs to pay their share both the "haves" as well as the "have nots." Those that are neediest need to take responsibility and be accountable. Those who are doing well have a responsibility to grow the economy in how they save and spend to drive the economy forward. Unfair tax burden on many of the haves will stall the economy.
davel454
7:48 am on Sunday, July 15, 2012
**Taxes should always be uniform for all economic levels in society**
Clarify - are you saying that everyone should pay the same amount? The same rate? What exactly do you mean by "uniform"?
John D. Roach
7:58 am on Sunday, July 15, 2012
RATE!
davel454
8:04 am on Sunday, July 15, 2012
Okay... you want everyone to pay the same rate. You do understand that this would mean that the vast majority of people would have to see a significant increase in the taxes that they pay, right? And chances are, that would include you as well.
davel454
8:06 am on Sunday, July 15, 2012
**I am always amazed at how this topic is over simplified. **
Oh... and I also love this. You claim that this issue is over simplified, and then claim, in the simplest way, that everyone should pay the same rate.
Stuart Tindall
8:35 am on Sunday, July 15, 2012
If a homeless man sees a dollar on the street will he pick it up? Yes.
If a billionare sees it, will he pick it up. Probably not.
People have different values of money. A 1% tax increase can send some people into destitution, but for others it just means they can't buy their third car. Circumstance matter and that's why we have a progressive tax system.
Willie Wilmette
9:19 am on Sunday, July 15, 2012
US workers make way too much money! That is why the US taxes wages. If we taxed sales then the Chinese goods would get taxed at the same rate as US goods, Chinese goods would cost more and more poor Chinese workers would starve.
Ginny Stanton
1:04 am on Saturday, July 21, 2012
To: John D. Roach
"Your comment, on July 15th, included 'Unfair tax burden on many of the haves....'; and your definition of 'haves' is important."
Kf
7:48 am on Sunday, July 15, 2012
Polls are irrelevant. Doesn't matter what the people think or what is right anymore. If Obama doesn't agree, he'll just veto it. We've all had to learn to live within our means....perhaps the government should learn that as well instead of using more taxes as their answer to everything. (and I'll drink as much soda as I want, thank you)
McCloud
8:11 am on Sunday, July 15, 2012
I trust a guy who invests his own money into something that may or may not make money, builds a company and hires people over obama taking his money away to sink into solar panel shell companies that go bankrupt.
Ginny Stanton
1:11 am on Saturday, July 21, 2012
What do you all think President Obama would say about McCloud's July 15th comment? I think USA Congressional members have more power than the President. He gets both negative and positive responses for what Congress decides.
william brown
8:29 am on Sunday, July 15, 2012
This is Sooooo unfair to the upper 1%.
They have heavily invested in buying legislators for the past 30 years and their investments in keeping the minimum wage low ( as a gov subsidy to biz) are finally paying off. Min wage would have to be over $15.00 an hr to = 1968 $. The 1% has finally widened the gap between rich & poor to the largest in history. They have earned the right to remove access to food for the poor and bitch about the people making in a year what they make in an hr.
As long as we keep squeezing the middle class out of existence, attack public education, public employees and the associated Commons the 1% will get the payoff they have earned. To return to days when the US economy was growing as it did when the upper incomes paid a larger % was ...... Was ( blubbering) SOCIALIST
Harrumph !
New Feudalism is the way our Multi National Masters need our economy to be.
Richard Schulte
8:43 am on Sunday, July 15, 2012
william brown: "As long as we keep squeezing the middle class out of existence, attack public education, public employees and the associated Commons the 1% will get the payoff they have earned."
"Government is not the solution to our problem; government is the problem." Ronald Reagan
The fewer the number of public employees, the better. To quote President Clinton in the mid-1990's, "The era of big government is over."
Our public education system today is not about educating our children-it's about indoctrination. The public education system in America needs to be privatized and modernized.
"The problem with liberals is not that they know so much, but that they know so much that isn't true." Ronald Reagan
ebuddha
8:46 am on Sunday, July 15, 2012
Why should there be a min wage at all?
If people want to earn more, they should equip themselves with skills that are more valuable.
We live in a global world, lines on a map don't mean anything to businesses -- and by the way this is not being done for the benefit of the business owner as much as it is for the benefit of everyone who wants to pay next to nothing for everything at Walmart.
J.Lyn
9:08 am on Sunday, July 15, 2012
ebuddha...after reading your 3 posts this morning...one thing is clear to me...your site moniker is totally inappropriate given what you espouse. you have absolutely no knowledge of what the buddha's life was about...nor what the buddha's teaching are...or what the buddha symbolizes. why exactly did you choose that moniker? is it superficially 'cool'? do you have a large beer belly? are you joking? rhetorical questions all. not interested in what you have to say...oh... all unknowing one.
Willie Wilmette
9:21 am on Sunday, July 15, 2012
We should only tax the 1%. That way the US would be forced to cut spending.
ebuddha
9:27 am on Sunday, July 15, 2012
Jlyn,
Perhaps some day people will realize that giving people money for sitting on their ass was actually cruel because it allowed them to waste their life sitting on their ass.
Shirley
5:22 pm on Sunday, July 15, 2012
ROFLMAO William!!!! So perfectly said and so absolutely true.
Dear 1%: pay attention to the events around you; textbook class conflict is taking place. We should all beware. Finally, one question stymies me, "Why do the wealthy despise the poor?"
Goethe Behr
8:35 am on Sunday, July 15, 2012
Everyone is missing the point. Alan Greenspan was afraid what would happen if Clinton's Surplus continued and paid off the national debt. THAT is why we had tax cuts. The law should have been written to end the cuts if and when the surplus ended.
ebuddha
8:47 am on Sunday, July 15, 2012
This post make zero sense.
Jac Charlier
9:10 am on Sunday, July 15, 2012
I am going with what you write as the rationale....great point then and thanks. Is what you are saying Goethe that the tax cuts which were to only be temporary are slowly becoming part of our everyday expectations and so serving a purpose for which they were not intended?
J.Lyn
9:18 am on Sunday, July 15, 2012
ebuddha... LoL...takes one to know one...neither did any of your posts....LoL...
The Q
8:45 am on Sunday, July 15, 2012
how about we just spend less.......now there is a concept.
McCloud
8:57 am on Sunday, July 15, 2012
Truth behind the tall tale of surplus, this was a Clinton scam. They took the current year's GDP and projected out 10 years assuming everything would stay the same. Turns out, liberals having been repeating the lie so many times, they think it is true.
Goethe Behr
9:13 am on Sunday, July 15, 2012
I agree that it was not a real "surplus," but it's not just a liberal scam. It was, after all, BUSH who wanted to spend the "extra cash" he claimed we had. And it was Greenspan who agreed. If you'll recall, the worry at that time was that the government would pay off its debt--and it's government debt that the Fed uses to manipulate the economy. The worry was that after we paid off our national debt, the government would have extra cash and start buying companies. As crazy as it seems, THAT was the discussion that led to the "Bush Tax Cuts."
Ginny Stanton
1:20 am on Saturday, July 21, 2012
Regarding the July 15th McCloud (8:57a.m.) statement ("...this was a Clinton scam."), give us references to the proof of the "scam". Movie makers will "gobble this up"! You have a plot for a best selling movie and a book. Let the "fact or fiction" begin!
Jac Charlier
9:07 am on Sunday, July 15, 2012
-I liked bb's opening post (thanks bb) for the distinction you make about where the revenues from a company end up. Smart point.
-As the bar has been set at $250K (not by any of us) and the question on the table is ONLY yes? or no?, then in these very dire economic days (sadly, years to be exact) I support the tax cut on only the first $250K of income.
-I support that by saying that of all the things a "good tax" should be, fair is the most pressing now. Fair to those who simply cannot affort to pay more and who, left with less of the basics of life (yes, this is where we are in this nation for an ever growing population of our citizens), will continue the downward spiral into or deeper into poverty.
-We live in a period that has brought and continues to bring nothing short of economic disaster on many of us, our friends and neighbors. This era is depleting our savings and, worst of all, eroding our hope for the future. We must remember the specific context in which we have this discussion.
-Finally, I believe that beyond taxes we each have an obligation to help one another in as many ways as possible. This means everybody doing something meaninful to assist those in need regardless of the taxes one pays. Here I rest not on what government can, will, should, or won't do, but on my faith and a shared humanity.
Rob
9:16 am on Sunday, July 15, 2012
Spend less, collect less, employ less, less foreign aid...keep our tax money here to help those that need it. I am so sick of sending billions of dollars to countries burning our flag and hating our country. Secure our borders and let them kill each other off.
If you don't want to live under our laws, leave.
If you don't like our religions and our holidays, leave.
Since when is it a bad thing to successful in America? I don't and will probably never
make anywhere near 250,000, but if I did and I wanted a "3rd" car.....what's wrong
with that....it's taxed when I buy it, it's taxed when it's licensed, it's taxed on all
maintenance and fuel, it employs mechanics, gas station attendants and on and on. Isn't that how owe economy is supposed to work?
Let's not forget how much those 1% already pay in taxes, how much they spend in our local and state economies and how much they give to the charities and youth groups that without them might not exist.
Here Here 1%, just like everyone else, I hope to be one of you some day!
So I too can spend, support and hire my neighbors and friends.
Shirley
5:30 pm on Sunday, July 15, 2012
Don't forget the rest of the non-1% are paying the same regressive taxes you stated each time they buy food, gas, or other items.
No one says it is bad to be successful in America! The opportunity gap, however, has become so wide in the last 30 years that the chances are greatly diminished. This is what needs to change.
The Q
9:22 am on Sunday, July 15, 2012
top 10% pay 2/3rds of income tax in this country.......that's real fair.
ebuddha
9:29 am on Sunday, July 15, 2012
Be careful of the sarcasm, there are a lot of foos around here who will agree with that, even though I know you don't
Goethe Behr
10:15 am on Sunday, July 15, 2012
Not paying enough. The top 10% have 83% of the wealth.
http://www2.ucsc.edu/whorulesamerica/power/wealth.html
Stuart Tindall
11:50 am on Sunday, July 15, 2012
Of course the the top 10% pay the most in taxes. They are the one who are making the most money! If you had a group of 10 people, 9 of whom make $10 and one who makes $100 and tax them all at 10% then 10 of the 19 dollars collected come from the top 10%! And this is with a flat tax! Learn to use critical math before posting next time.
ebuddha
12:46 pm on Sunday, July 15, 2012
stuart - before you start encouraging others to do math, how about you do some reading: the top percentiles pay a disproportionately larger percentage of their income. This is to say, whatever percentage of the total income they earn, they pay a larger percentage of the taxes.
ebuddha
12:48 pm on Sunday, July 15, 2012
goethe - we're discussing an INCOME TAX, not a WEALTH TAX.
you get your chance to rape and pillage people's wealth when they die - be patient.
Rob
9:24 am on Sunday, July 15, 2012
Hey Jac,
I get what your saying,,,but explain how taxing the rich in is going to help anyone? What are the plans for this extra "windfall" of money?
All the new tax collected will be enough to run this enormous govt for about 1 week.
How is that fair or helping anyone?
The spending has to stop.
The waste has to stop.
The corruption at all levels must end.
The endless foreign aid must be reeled in and controlled.
The endless taxation is what is driving to poverty, the crime and the squeezing of the middle class.
I am not a highly educated person like many commenting on here seem to be, but I have been a middle classer my whole life and I know when my family has done well and is feeling the pressure....it's worse now that ever.
davel454
11:16 am on Sunday, July 15, 2012
**The spending has to stop. ... The endless taxation**
We have some of the lowest taxation and spending levels among developed countries. But hey, don't let facts get in the way of your rants.
Jim Carfagno
6:24 pm on Sunday, July 15, 2012
First of all the Bush tax cuts were supposed to be TEMPORARY otherwise they had to be offset (paid for) by equal amounts of spending cuts. This was a rule put in place by the GOP. The only way to avoid doing so was to make them temporary. So Bush and the GOP did 2 very stupid things. First they passed a tax cut by avoiding their own rules and second for the first time in our history and possibly EVER they cut taxes at a time we were fighting TWO wars! Wars which Bush never even accounted for in any of his budgets. These tax cuts make up a majority of the current deficit.
By the way Obamacare is NOT a tax. The Court said that the PENALTY imposed on those who do not buy insurance is legal through the power given to the government TO tax. By law the SCOTUS cannot rule or claim anything AS a tax until it is first imposed on the people. The case NEVER raised the question if this was a tax or not so that issue was not before the court. The question was on the mandate that everyone must have insurance and the penalty imposed on those who fail to do so. A plan I might add that was proposed by the very conservative Heritage Foundation and at the time supported by the GOP.
Cindy Matusik
4:31 pm on Wednesday, July 18, 2012
I agree with you Rob. The middle class is slowly and steadily being driven out of existence. It makes me so sick to think that we've been so responsible with our money and worked so hard for everything we have only to have the government take it from us, waste it on their pet projects and rich donors and then tell us that what they decide is "for our own good". It's unbelievable and sad how gullible so many people are that they believe whatever a smooth talking politician says to them.
LaVerne
9:25 am on Sunday, July 15, 2012
Actually Obama took ownership of what you are calln the Bush tax cuts. He already extended them once.
Jim Carfagno
6:30 pm on Sunday, July 15, 2012
No, the President does not have that power. Congress passed them again. The President didnt veto the bill so that unemployment benefits could be extended. This was part of a COMPROMISE a tool used for governing one which the GOP and tea babies seem to have a very poor understand of and little willingness to use.
Goethe Behr
9:27 am on Sunday, July 15, 2012
Jac Charlier: They don't let us respond to responses, but to answer your question, yes, that was the discussion at the time. That we'd pay off the debt, the gov't would invest in the stock market, thereby risking control of companies. Of course, that was just a rationale for the tax kickback to their rich buddies.
William Lee
9:52 am on Sunday, July 15, 2012
Of course they should. Obama otherwise will be guilty of a tax INCREASE
McCloud
9:56 am on Sunday, July 15, 2012
Linear thinkers always fall for this tax the rich scam. The economy has so many moving parts with relationships that are both direct and indirect, with no economist who has it all figured out. These morons who claim tax cuts causes a deficit have no real idea of how the world of taxation works. The only measure on tax cuts has been an increase in revenue resulting from higher productivity. Besides, the so called Bush tax cuts are in reality current rates.
william brown
10:04 am on Sunday, July 15, 2012
It's so interesting to read all the greed infused rhetoric from ALL the Self Made People.
Imagine how much better off you would all be without the gov.
Who ever thought the john birch / larouche ideas would take over the thoughts of once good Americans
I guess selfish corporate centric greed has corrupted the rt
But be warned when you finally get the society you desire.
The corporations will eat you also.
Jose
10:12 am on Sunday, July 15, 2012
LET THE BUSH TAX CUTS EXPIRED. WE HAVE TO PAY OUR DEBT.
LaVerne
10:23 am on Sunday, July 15, 2012
Jose You mean all the Obama Tax cuts right?
Jose
10:15 am on Sunday, July 15, 2012
THE FAT CATS MADE $$$$ A LOT OF MONEY IN THE LAST 10 YEARS.. THEY SHOULD PAY 39 % RATE UNTIL THE DEBT IS PAY FOR AND THAN WE CAN LOWER THE TAXES. BUT WE SHOULD PASS A BALANCE BILL
Ginny Stanton
1:27 am on Saturday, July 21, 2012
Jose, certified public accountants help with the prevention of paying taxes. Look at what business leaders enter on Schedule C (included with IRS Form 1040). Then look at how Schedule A helps wealthier "taxpayers" to avoid paying taxes.
Rob
10:26 am on Sunday, July 15, 2012
LOL, the Corps will eat you, too?
You rarely a upper middle or upper class citizen at Walmart.
If we had a vibrant, working middle class, you see more small business and less Corp take over.
Does anyone on the left understand that it's the taxes and govt programs that cause the Corp take overs and the1%?
it's because nobody else can afford to do business.
Why is Walmart so big? Because mom and pop can't afford to run a shop anymore, they can't compete with the govt and the Corp world.
Lower the taxion at all levels.
Shrink govt at all levels.
Let people spend their own money.
Require all govt at all levels to make the personal and waste cuts needed, to cut all budgets by 20%.
Stop the waste.
Stop the overspending.
Left or right...who cares anymore, we all know greed and corruption is the real problem.
The budgets and spending have been out of control since the 70s. Is Romney or Obama going to fix it? NO
We have to fix it, by standing up and electing the right, city, county and state officials that will make the hard decisions and not worry about the next election.
Eliminate the crazy retirement benefits and huge salaries for elected officials and we get people that want to serve and do what's right, again.
The taxes extended or not, will not make a difference to anyone here.
Rob
10:35 am on Sunday, July 15, 2012
Jose, go back to sleep. That makes NO sense at all.
The more they collect, the more they spend.
Just like you and me.
If you could bump up your income whenever you wanted, what you do?
How much would you make?
Would you save and invest, if you had total control over your income?
Think about what your saying.
Fat cats own the trucks that bring you your food, the stores that sell it and probably employ you too.
Without the fat cats we would be in deep trouble.
KC
11:00 am on Sunday, July 15, 2012
Regardless of whether one is for or against increasing taxes on those making over $250K, if that amount becomes a constant for calculating taxes in future years, it will be an economic Trojan Horse just like the AMT (Alternative Minimum Tax). Let's not forger that the AMT was widely supported and only affected a few hundred people when it was first passed. Now it affects tens of thousands simply because of not being adjusted for inflation. In 8-10 years that $250,000 income level will apply to many more folks than is the case today. However you feel about increasing taxes on those making $250,000 today, make the effort to insist that it is indexed for future inflation.
Rob
11:22 am on Sunday, July 15, 2012
Smart smart smart, KC for Governor.
Richard Schulte
12:03 pm on Sunday, July 15, 2012
Jose: "THE FAT CATS MADE $$$$ A LOT OF MONEY IN THE LAST 10 YEARS.. THEY SHOULD PAY 39 % RATE UNTIL THE DEBT IS PAY FOR AND THAN WE CAN LOWER THE TAXES. BUT WE SHOULD PASS A BALANCE BILL"
Jose, Winn-Dixie charges $4.50 for a 67 ounce container of Tropicana orange juice. Target charges $3.00 for the same container of Tropicana orange juice. Which store will sell more Tropicana orange juice? Which store will make more profit selling Tropican orange juice?
It's not the price of an item that determines how much profit you will make, but the price and the number of items sold. The Winn-Dixie store is empty, but there are more shoppers at Target (and even more shoppers at Wal-Mart).
The same applies to taxes. If you tax wealthy people at a higher rate, the wealthy just go somewheres else where the tax rates are lower. Makes sense.
Illinois raised its coroporate income tax rate 18 months ago. Several large corporations told the governor that they were leaving the State of Illinois as a result. The governor responded by cutting a deal with the large corporations to keep them in Illinois. Smaller businesses didn't get the same deal as the large corporations, so smaller businesses just left the State of Illinois.
Higher tax rates don't mean increased revenue. It just means that smart business people will take their business to somewhere were they are appreciated.
The Q
2:54 pm on Sunday, July 15, 2012
They dont get it.....the rich can move or leave, poor people are stuck. Detroit a perfect example.
Keep raping the rich and they all move to singapore......no income tax.
Richard Schulte
1:20 pm on Sunday, July 15, 2012
J.Lyn: "ebuddha...after reading your 3 posts this morning...one thing is clear to me...your site moniker is totally inappropriate given what you espouse. you have absolutely no knowledge of what the buddha's life was about...nor what the buddha's teaching are...or what the buddha symbolizes. why exactly did you choose that moniker? is it superficially 'cool'? do you have a large beer belly? are you joking? rhetorical questions all. not interested in what you have to say...oh... all unknowing one."
Now, now, now J.Lyn you remember scolding me for not being nice as pie. Be nice.
J.Lyn
7:25 pm on Sunday, July 15, 2012
Mr. Schulte... LoL... I am no angel and can get feisty now and again. But...even so...I am a flaming amateur compared to you! ; )...LoL
Richard Schulte
8:29 pm on Sunday, July 15, 2012
J.Lyn: "But...even so...I am a flaming amateur compared to you! ; )...LoL"
Yes, you are an amateur compared with me, but you're learning and making very good progress. ;) Yesterday, I was called "vile and despicable" by Me. Two thumbs up!
Richard Schulte
1:28 pm on Sunday, July 15, 2012
President Obama yesterday:
"There are a lot of wealthy, successful Americans who agree with me -- because they want to give something back. They know they didn’t -- look, if you’ve been successful, you didn’t get there on your own. You didn’t get there on your own. I’m always struck by people who think, well, it must be because I was just so smart. There are a lot of smart people out there. It must be because I worked harder than everybody else. Let me tell you something -- there are a whole bunch of hardworking people out there. (Applause.)
If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business -- you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.
The point is, is that when we succeed, we succeed because of our individual initiative, but also because we do things together. There are some things, just like fighting fires, we don’t do on our own. I mean, imagine if everybody had their own fire service. That would be a hard way to organize fighting fires."
This is the guy we want as our leader? President Obama is a marxist.
Ginny Stanton
1:39 am on Saturday, July 21, 2012
Regarding Richard Schulte's July 15th statement, I credit the Republican Congress for what is accomplished during recent years. The Presidents have continued to have the power to sign bills, passed by USA Congress. And they have vetoed some bills. Which bills do you wish that the Presidents would have vetoed?
Goethe Behr
8:04 am on Saturday, July 21, 2012
It was actually a brilliant argument, stupidly delivered.
Obama seems oblivious to the fact that ever letter in every word he speaks will be taken out of context. So he should not have used the term "give back." Most Americans don't feel that they "owe" anybody anything. Let your parents rot in an old-folks' home. Not your problem.
Likewise, he shouldn't have said, "somebody else made it happen." He should have said, "somebody else HELPED make it happen."
Likewise, he shouldn't have said, "you didn't build that." He should have said, "you didn't build that alone."
As for "Marxist," you clearly don't hear left-leaning people screaming at him for being a sell-out, such as using the Republican recommendation to hand over our health-care system to the corporate insurance industry.
Did you miss his comments about the "unbelievable American system," "great teacher. . .roads and bridges. . .Internet," "when we succeed, we succeed because of our individual initiative."
Sounds like Ronald Reagan to me.
D Epperson
1:48 pm on Sunday, July 15, 2012
Yes. The Bush tax cuts should be extended. In the current economic climate, it makes sense to leave them in place.
LaVerne
2:02 pm on Sunday, July 15, 2012
Anyone wonder when discussion about the 2% payroll tax cut that also expires Januray 1, WHEN ENTER OBAMAS CAMPAIGN?
Richard Schulte
2:36 pm on Sunday, July 15, 2012
From the Heritage Foundation:
"Here's another disturbing fact: The number of workers per Medicare beneficiary is falling dramatically. Back in 1965, there were 4.6 workers contributing to Medicare for every person receiving benefits. Today, there are only 3.3 workers, and in 2030, that number will fall to 2.3. That falling ratio is leading to the program's insolvency. And with longer life expectancy (which of course is a good thing), seniors today are collecting benefits for almost three times as long as when the program first started. That means the program is paying more benefits than ever before."
The law of unintended consequences at work. . . .
Gary
8:41 am on Monday, July 16, 2012
... and the burden on future generations just continues to get bigger and bigger.
Medicare
Inception: 1967 0.7% Tax Rate
Today: 2010 2.9%
Increase: >4X rate increase since inception
Assets: $0
Unfunded Liabilities $13.4+ Trillion over 75 years, $114,000 per household
Anyone who thinks they "put their money in, so they deserve to get it back", is wrong. You didn't put in nearly enough. You didn't put in as much as the next generation is being asked to put in.
... and everything you put in was spent the next day to buy your vote, so it doesn't matter how much money we pour into that bottomless pit of a Ponzi scheme.
Government will waste it all.
Ginny Stanton
1:43 am on Saturday, July 21, 2012
Does anyone notice that government employees and public school teachers paychecks do not show payments to Medicare? There is a different "benefit program" for many of them. Ask a certified public account about this.
John Walsh
2:46 pm on Sunday, July 15, 2012
End all the Tax cuts. We have serrious budget problems, time to buck up for Bush's illegal invasion of Iraq.
The Q
2:49 pm on Sunday, July 15, 2012
Give it up the Iraq war cost 1T dollars ......obama has added 5T dollars in 3 years. Grew the debt by 1/3.
We have a spending problem not a tax problem. MSNBC is not a place to get your news.
Richard Schulte
5:50 pm on Sunday, July 15, 2012
John Walsh: ". . . .time to buck up for Bush's illegal invasion of Iraq."
Mr. Walsh, this is the first time that I have ever heard that the Iraq War was illegal. Inquiring minds would like to know why the Iraq War was illegal.
If I recall correctly, the Iraq War was approved by both the House and Senate and that Democrat Senators Clinton and Kerry voted in favor of the Iraq War. Did Senators Clinton and Kerry vote for an illegal act of war?
I also don't recall that President Bush was impeached for prosecuting an illegal war. Perhaps my memory has failed me, but I believe that my facts are correct.
Your explanation of your reference to an "illegal war" would be appreciated.
Goethe Behr
7:41 am on Saturday, July 21, 2012
They were temporary tax cuts. So not renewing them is NOT a tax increase, it's just not continuing an earlier error.
Goethe Behr
7:49 am on Saturday, July 21, 2012
Regarding "illegal war," ALL wars since World War II have been illegal. Read the Constitution. As Ron Paul notes, ONLY Congress shall declare war. And the silly, disingenuous, illegal surrenders to the executive branch don't make it right. In this age of immediate communication, there's no reason we cannot have Congress declare war and perform their legal duty.
Richard:
Regarding why the Iraq war, in particular was considered illegall, there was a LOT of such discussion about that a decade ago. Are you too young to have been there?
The Q
3:05 pm on Sunday, July 15, 2012
So one person makes 40 k pays no tax and almost no state income tax. The other makes 250k will pay after jan 1 around 32% on average plus 5.5% almost 40%. So they pay around 100k.
Yeah thats a real fair system and incentative to make more and pay more tax. I mean get real people.
250k is not a ton of money that 2 people earning 125k each.
Shirley
5:40 pm on Sunday, July 15, 2012
WTF? Have you tried to live on 40K & feed your family? $250,000 is not that much??? I know I live in LF, but I come from humble beginnings and don't forget them! YOU need a reality check.
Richard Schulte
6:01 pm on Sunday, July 15, 2012
SJM: "Have you tried to live on 40K & feed your family?"
Hmmmm. . . I'm sorry, but you're out of touch lady. I wish I made $40K-I'd be in hog heaven if I made that much (with an engineering degree and 35 years of experience). . . .the economy has been destroyed in the last 3-1/2 years.
In 2009, I grossed $7 grand and $5 grand of that went to foreclosure attorneys trying to save my house. But $7 grand is a whole lot more than General Motors made in 2008. Yes, there were many days I couldn't afford to buy food. Things aren't that much better today.
Thank you President Obama. I'd vote for a stray cat named Ashley before I'd vote for the current occupant of the White House.
J.Lyn
7:34 pm on Sunday, July 15, 2012
Mr. Schulte...I have read in numerous articles that engineers are one of the few professions that is currently in demand...all over the world. My sons college buddies have been changing their majors to engineering because they are being informed that careers will be plentiful in the coming years. Why do you find yourself unemployed...esp. one who is " famous" in his field...and has so much experienced?
Ch'in shih-tang
3:58 pm on Sunday, July 15, 2012
I probably should've voted for the least popular option--let all the tax cuts expire, which is what will happen if Congress does nothing. In the long run, it makes the most sense. So, maybe it's the most probable outcome of the three?
Dan Arenov
4:08 pm on Sunday, July 15, 2012
Did you happen to attend the Obama fundraiser yesterday in communist China?
No president in history has ever held a fundraiser in a communist country (before yesterday), but Obama is all about transforming the USA.
Shirley
6:19 pm on Sunday, July 15, 2012
Replying to Richard above^^^: sorry for your plight. But, how is losing your home Obama's fault? As an engineer with 35 years experience, I would think that you would have had the forethought to have not gotten yourself into a mortgage/debt situation you could not weather.
I still stand by my previous comments.
Gary
8:44 am on Monday, July 16, 2012
Look up the "Laffer Curve".
Ch'in shih-tang
4:19 pm on Sunday, July 15, 2012
Are you kidding? I didn't hear anything about Obama in PRC. I did hear that Romney is fundraising in Europe, which sounds 1) crazy--he thinks they have money to burn on stupid TV ads?--and 2) illegal.
Maybe the Euros will think that, if Romney gets elected and US go down the austerity track, then they won't feel so bad. But somehow I doubt it.
Dan Arenov
7:16 am on Monday, July 16, 2012
Obama did not go to Shanghai, but there was an official Obama fundraising event there over the weekend.
This was the first time in American history that a sitting president held a fundraiser in a communist country.
He also has many scheduled in Europe.
I find it more than ironic that when Obama was playing "class warfare" a month or so ago, he was holding fundraisers in Hollywood, charging $40,000 a plate.
Now he's harping on Romney's supposed 'outsourcing' at Bain while holding fundraisers in China and Switzerland, e.g.. wait until Romney kills him in debates over this issue as it is a fact that billions of dollars in stimulus money went to create jobs in countries not named U.S.A.
McCloud
4:22 pm on Sunday, July 15, 2012
Hey, Mao se Tung, go back to China and take Obama with you.
Shirley
5:42 pm on Sunday, July 15, 2012
McCloud: What is your problem? That comment was horrible and racist.
Nightcrawler
6:05 pm on Sunday, July 15, 2012
Wow. Mighty white of you, Mr. McC.
Richard Schulte
6:10 pm on Sunday, July 15, 2012
SJM: "McCloud: What is your problem? That comment was horrible and racist."
Yeah McCloud. Sending Obama to China would cost too much-we've got to cut spending. Send Obama to Cuba.
Dan Arenov
7:17 am on Monday, July 16, 2012
racist, Shirley? really? is everything racist to you when it involves Obama?
Ch'in shih-tang
4:25 pm on Sunday, July 15, 2012
Very kind. Hey, are you the redneck sheriff McCloud from Taos gone to New York from the TV series of the '70's? You sound like it.
Dan Arenov
7:19 am on Monday, July 16, 2012
watch out, Ch'in...Shirley is going to label you a racist for saying McCloud is the 'redneck' sheriff.
oh wait. no, she won't. it's ok to call white people anything derogatory.
Shirley
11:25 am on Monday, July 16, 2012
dan: If you had read above, you would have discerned that I was referring to McCloud's racist slurs to Ch'in shih-tang that are anti-Asian. You, sir, must have a racist agenda when it comes to our President, not I, for you were quick to respond with that remark when what I had written had nothing what-so-ever to do with President Obama.
Jim Carfagno
7:00 pm on Sunday, July 15, 2012
No one seems to understand or admit that taxes today are at the lowest they've been since the 50's. Government spending has grown at the slowest pace since the 70's. Corporate profits are at record highs. Income for the 1% is at an all time high. Salaries for the rest of the people have been flat or declined over the same time period. The Stock Market has not only come back from the pit it was in after Bush left office but its climbed to record highs as well. Yet all I hear is how terrible things have been under of Obama!
One of the reasons unemployment is so high is due to government cuts and the loss of all those jobs that government "doesn't create". The tax increase on the those who NET an income of more than 250k will only get an increase of 2% on that amount OVER their NET of 250k. Their incomes have increased way more than 2% these last 10 years so just what is so terrible about having them pay 2% more? And unless this effects you directly, why would you care? Most of the people we hear complaining about this don't even make that much money!
I agree that spending must be controlled but taxes must be increased as well. You cannot BALANCE anything by only removing things from only one side of the ledger. And when the private sector stops spending the government must spend to keep the fuel of cash flowing into the system. This has shown to be true many times though out our history. Never has just cutting spending been successful, but it has made things worse.
Deadcatbounce
7:59 pm on Sunday, July 15, 2012
Although in terms of tax brackets, it would appear on the surface that we are paying lower taxes today, than our ancestors who worked in the 1950s, there is one additional item to consider. Without getting into all the other taxes we pay today, which either were not around or at least not as burdensome in the 1950s (i.e. federal fuel taxes, airline ticket taxes, state and local taxes, and such), FICA payroll taxes were much lower in the 1950s compared to today.
Richard Schulte
8:02 pm on Sunday, July 15, 2012
Mr. Carfagno: "No one seems to understand or admit that taxes today are at the lowest they've been since the 50's. Government spending has grown at the slowest pace since the 70's. . . . "
"The problem with liberals is not that they know so much, but that they know so much that isn't true." Ronald Reagan
Mr. Carfagno's comment above is really just propaganda, or Mr. Carfagno is totally clueless-not sure which.
Dan Arenov
7:20 am on Monday, July 16, 2012
Jim, does the USA have the highest corporate tax rates in the world?
Jim Carfagno
1:45 am on Tuesday, July 17, 2012
Richard, I sit here in awe. It must be such a burden for you to be so much smarter than the rest of us simple citizens and all because you are a conservative! I bet many of us here would feel blessed if we could be just half as smart as you! So PLEASE do a big favor for me and enlighten me with your wisdom. If what I said was wrong and I'm so "clueless" instead of calling me names, typical of those on the right who have no answers to FACTS presented to them, show me where I'm wrong. Provide sources that prove your point and that I am wrong.
In answer to Dans question, yes we do have the highest corporate tax RATE in the world, however there is not a corporation in the U.S. that PAYS that rate. If there is you can bet they'll be looking for a new accountant! What tax rate a company PAYS is what counts and in most instances these corporations not only aren't paying a dime in taxes but are actually GETTING money from the government.
Then you have people like Romney and companies like Halliburton who either have offshore bank accounts or move their "offices" to another country just to avoid paying ANY taxes at all. When this happens WE all have to pay more in taxes to make up the difference. I'm sure Richard doesn't mind that because in most cases these are conservatives who are doing this and as far as he is concerned only conservatives "have a clue". Since they're so smart it must be good for the nation to not pay taxes so maybe we should all strive to do the same.
Richard Schulte
8:15 pm on Sunday, July 15, 2012
J.Lyn: "Mr. Schulte...I have read in numerous articles that engineers are one of the few professions that is currently in demand...all over the world. My sons college buddies have been changing their majors to engineering because they are being informed that careers will be plentiful in the coming years. Why do you find yourself unemployed...esp. one who is " famous" in his field...and has so much experienced?"
J.Lyn, don't believe everything you read. The building construction industry which employs architects and engineers has been decimated. The unemployment rate for architects and engineers in the building construction field might be between 30 and 50 percent.
I have a friend who is a chemical engineer with 35 years of experience-he's been unemployed for more than 2 years. I have another friend who worked in Southern California with 30 years of experience-he moved to Singapore 2 years ago to find employment.
Yes, there are engineering jobs, but not in the United States. Based upon my experience, I would advise against getting an engineering degree and expecting to work in the construction industry in the United States.
J.Lyn, you seem very willing to comment on things that you know nothing about (such as racial profiling based upon the statements of a single police officer).
J.Lyn
10:01 pm on Sunday, July 15, 2012
Mr. Schulte... You need not presume that I believe everything that I read, for I do not. My son has 2 friends in the graduating class last year from the Colorado School of Mines who both stepped into 6 figure positions with american based firms.
One in the states and one abroad. One in geophysical and the other in environmental engineering. He also has a friend who graduated Texas A&M with a degree in materials engineering who is also now gainfully employed in the states. Granted these are not in your particular field...but is your field on such the skids that there are ZERO positions for someone of your experience and expertise? If you are as well respected and "famous" as you claim...why are there not people clammering at your door for your talents? Oh well...not my concern. In addition, I would say that the statements of the highest ranking officer actively in the trenches would know a thing or ten about racial profiling. Far more than you kind sir. I related only what I was in the know about. You, on the other hand, are very comfortable making emotional and extremist comments on things you only think you know about. Given the number of quotes and links you include in your comments...one might also turn to you and say...Mr. Schulte...don't believe everything you read.
Me
1:06 pm on Monday, July 16, 2012
Can anyone else spot the inconsistency?
deci - A prefix that means "one tenth," as in deciliter, one tenth of a liter.
The building construction industry which employs architects and engineers has been decimated. The unemployment rate for architects and engineers in the building construction field might be between 30 and 50 percent.
Jim Carfagno
1:55 am on Tuesday, July 17, 2012
Richard, I know more than a few "head hunters" and one thing they ALL agree on is that they are constantly looking for engineers and that the demand in this field will continue to grow for at least the next 10 years or so. This is not based on anything I have read, but have been told by people who are in the position of FINDING engineers.
That said, I did notice one thing in common with the friends you mentioned that can not find work. They all seem to be older (like you and I) and unfortunately many corporations have little interest in hiring older candidates for jobs that they can fill with younger candidates for less money and who will most likely work for more years.
But to tell someone not to go after an engineering degree is not very good advise such a degree can be used in many more areas than just construction.
Goethe Behr
5:52 am on Tuesday, July 17, 2012
You should look up the word "decimate." It means ONE out of ten. It comes from the Roman practice of killing ONE soldier out of TEN. ONE out of TEN. That's ten percent. It does NOT mean "destroying almost everything."
Craig Apelbaum
8:25 pm on Sunday, July 15, 2012
Extend the Bush era tax cuts.
Jac Charlier
9:28 pm on Sunday, July 15, 2012
Definitely do not agree with the personal comments and attacks going on here. That is just not cool.
I did like the discussions that started about the debt. That is on topic. Agreed that debt reduction must be a major, major focal point of our national budgets going forward immediately, no waiting. It must, howeer, be done in a manner that does not "make the patient worse". In this case, the patient being those citizens who are already on the brink of going under.
Good thing this blog is not about Illinois. Now that would be an even crazier conversation.
Me
10:43 am on Monday, July 16, 2012
@Jac - Unfortunately, there are several people on this site that prefer to shout down anyone with a dissenting view rather than actually pay attention to what is being said.
Anthony P.
9:40 pm on Sunday, July 15, 2012
It's simple folks. The government makes enough in taxes already, actually more than enough. They spend too much and are quite corrupt at times. The thing with government workers now is that the public servent mentality is gone and there are over paid people doing meanial things while there are under paid workers doing the things that count - teachers. Let's spend $5 for a cup of coffee and $15 for a bagel and buy them from our buddy with your money. All these tax dollars are getting spent somewhere and someone is getting rich.
Goethe Behr
9:46 pm on Sunday, July 15, 2012
I pointed out that the top 10% control 84% of the wealth because that's a more relevant measure. Even if you use stated "income," as filed by the top 10%, their ADJUSTED income is nearly half of all income.
http://www.financialsamurai.com/2011/04/12/how-much-money-do-the-top-income-earners-make-percent/
And that's just what they report--after all the tax dodges and kickbacks and other lawyer tricks (the rest of us can't afford). The more income people get, the more they hide, so I would say the tax the top 10% pay is still disproportionately TINY compared to their REAL income.
Me
10:12 pm on Sunday, July 15, 2012
I strongly suggest that anyone with a brain should abandon this discussion now so that Lenny, Shulte, et al can post to their hearts content without forcing them to berate anyone who has a dissenting opinion. They all read the Karl Rove textbook on shouting down the opposition.
J.Lyn
5:57 am on Monday, July 16, 2012
Me...Unfortunately you are correct. Advise taken. Thanx... : )
Shirley
11:15 am on Monday, July 16, 2012
Exactly why I turned on HBO and watched Newsroom instead!! Too many old men wishing they had power. Guess the V ain't working for them.
Harry Steindler
11:26 pm on Sunday, July 15, 2012
It's been said elsewhere above, but for emphasis - all taxes in the US are regressive other than federal income tax (and some state income taxes): payroll taxes, sales tax, gas tax, utility taxes and in some cases property taxes - are paid one way or another by all of us - no one - no matter how low their income - goes untaxed and in most cases these taxes are extremely regressive (comparing the percentage of income paid for these various taxes).
Not completely unrelated - wealthier individuals can generally afford to pay for tax consulting to reduce their income tax burden and can put their money in tax advantaged investments (including tax deferred retirement plans). All of this changes the statistics on who pays what percentage of their income in taxes. Leaving these considerations out of the discussion leads to erroneous conclusions.
Shirley
11:17 am on Monday, July 16, 2012
That was me, Mr. Steindler, who mention the regressive taxes. Funny how un-noticed it went! Thank you for better clarifying my point.
Richard Schulte
6:31 am on Monday, July 16, 2012
Me: "I strongly suggest that anyone with a brain should abandon this discussion now so that Lenny, Shulte, et al can post to their hearts content without forcing them to berate anyone who has a dissenting opinion. They all read the Karl Rove textbook on shouting down the opposition."
Well, imagine that. The radical leftists are upset when conservatives use their tactics on them. Radical leftists have a difficult time with facts.
Gary
10:55 am on Monday, July 16, 2012
"Radical leftists have a difficult time with facts."
I have found just the opposite. Leftists get around facts so quickly that it's a waste of time putting any out there. I still do it, but I'm not surprised by the responses. They burn all their energy rewriting history on a minute-by-minute basis to suit their immediate political needs. Their spin machine is breathtakingly efficient.
For example: They are now saying the Obama administration is not overspending... and we have people on here pushing that!
Simply amazing. Facts won't help either. These people will not be swayed.
It is ideas and principles they struggle with. They are fighting an all-out war on ideology and principled government. They can not allow the fight to take place in the arena of ideas or they will lose.
Me
7:09 am on Monday, July 16, 2012
Thanks Schulte, you have proven my point in two succinct lines. Facts really do work.
Richard Schulte
11:05 am on Monday, July 16, 2012
Gary: "They can not allow the fight to take place in the arena of ideas or they will lose."
Gary is correct. The marxist brothers, RB, Bruce Harvey and Me, simply don't want to debate in "the arena of ideas".
McCloud
8:26 am on Monday, July 16, 2012
Does it make sense for the government to own all the wealth? Confiscate the evil rich people's money, since elected officials always spend taxpayer money wisely. Good grief.
Brad
8:58 am on Monday, July 16, 2012
The results are to be expected when that the lead-in article focuses on the usual misleading Obama propaganda, without including the more telling facts. While 97% of small businesses may be unaffected by the tax increase, the ones which more employ people will be affected, and with more profits confiscated, will have less money available to employ people. Of course, Obama never explains how increasing the tax burden on successful, hard-working people and small businesses can possibly help the economy. It won't. This is just about appealing to those who want to punish and bring down the successful rather than about providing more opportunity for more to succeed.
Gary
9:28 am on Monday, July 16, 2012
"Of course, Obama never explains how increasing the tax burden on successful, hard-working people and small businesses can possibly help the economy. It won't. "
He never explains it because he believes that government control is the engine that drives prosperity. To him, there is nothing to explain. He will use his power to create a country in his image, and it will magically work.
That is the core of the debate: Do you believe government control, regulation, taxation, and redistribution are the keys to creating a prosperous, free, and equitable country?
Or do you believe that free individuals participating in free markets, with a tightly limited government will produce a free and prosperous country?
Those who believe in big government are winning, and we are living the consequences right now.
Dan Arenov
9:58 am on Monday, July 16, 2012
This election is a choice between capitalism and big gov't.
As of today, the Obama administration is doing a great job getting more and more Americans to depend on gov't.
The month of June may have been the best one for Obama.
80,000 people got new jobs. This number is terrible. It doesn't even account for the number of people joining the job market on an ongoing basis, let alone chip away at the unemployed.
85,000 Americans went on disability in June. That's right. 85,000 left the job market and are now on the gov't dole until further notice...basically forever.
This is Obama's America.
Goethe Behr
5:38 am on Tuesday, July 17, 2012
This is such rubbish. First, these tax cuts were instituted because the numbers were twisted to make it look like we had a surplus. Bush decided to raid the cookie jar that wasn't there.
Second, these were always called TEMPORARY tax cuts. They should have been eliminated IMMEDIATELY upon 9/11, to pay for this unending "War Against Anything We Are Afraid Of"--which can never end, by definition.
Third, as you state, this does NOT affect hardly any small businesses, despite the drum beat of propaganda to that effect. And for the few businesses it does effect, the solution is a simple change in tax designation. If a business is raking in so much money that it would be affected, it should be filing as a BUSINESS, not as "Bob."
Fourth, our tax rates are the lowest they've been in many decades, hardly "confiscatory."
Fifth, as noted elsewhere, the tax rate on the idle rich (which is what most of these people are) is commensurate with what they're wringing out of the economy.
Sixth, you're the one spouting propaganda. The talking point is always that we shouldn't tax the "successful," because that has been well focus grouped and hits the right emotional chord. Well, Al Capone was VERY successful, but I'm glad that the tax man caught him, too.
Extending a temporary tax that was only instituted because we thought we were rolling in dough is just insane, especially when these same people are also screaming about the deficit.
Richard Schulte
10:16 am on Monday, July 16, 2012
Based upon what I read on this thread this morning, I'd say the marxist brothers, RB, Bruce Harvey and Me, are in full retreat.
Liberals say that conservatives are dumb. Imagine the shock that the liberals on Patch got when they found out that conservatives are anything but dumb.
"The problem with liberals is not that they know so much, but that they know so much that isn't true." Ronald Reagan
Richard Schulte
11:10 am on Monday, July 16, 2012
Me: "Unfortunately, there are several people on this site that prefer to shout down anyone with a dissenting view rather than actually pay attention to what is being said."
Me, how do you shout on a Patch thread? You can't shout using the written word.
Shirley
11:26 am on Monday, July 16, 2012
Schulte: why don't you go work on your resume?
Richard Schulte
11:36 am on Monday, July 16, 2012
Shirley Jiles Miller: "Schulte: why don't you go work on your resume?"
Miller: Why don't you put a sock in it? Why would I need to work on my resume? Typical liberal, always giving advice to people who don't need it or want it.
Vortex
2:25 pm on Monday, July 16, 2012
This from the same president and Democrat party that spent a decade claiming the Bush tax cuts were only for the rich, and didn't do anything for the middle class at all?
They're too clueless to realize they're calling B.S. on themselves.
Goethe Behr
7:39 am on Saturday, July 21, 2012
It's "Democratic Party." There's a difference between nouns and adjectives, and confusing them only shows ignorance.
McCloud
2:30 pm on Monday, July 16, 2012
Where is Dick Durbin, hiding in a hole? This guy has had his hands on every single spending bill passed in the last 28 years, yet never gets a question about any of the responsibility for the massive debt. He'll come out of his hole when the get the rich cat calls start, and will once again never get a question about his irreseponsible voting.
John Walsh
3:02 pm on Monday, July 16, 2012
I will repeat: Cut the Military (exit Afghanastan now), Raise Taxes (let ALL the Bush tax cuts expire), Balance the Budget just like Clinton & Gingrich did. It provided for a budget surplus and was paying down the national debt...unlike Bush and the Republicons cut taxes, got our nation attacked, got us in two avoidable wars and passed the single larget entitlement program in over 40 years - the Medicare Prescription Drug Benifits. By eliminating the usual Republicon mismanagement of government and the economy...we will recover.
Richard Schulte
3:25 pm on Monday, July 16, 2012
J.Lyn: "Granted these are not in your particular field...but is your field on such the skids that there are ZERO positions for someone of your experience and expertise?"
Try looking around. Notice how many new buildings are being constructed? Ask plumbers, electricians, iron workers and pipe fitters what they are doing? It doesn't take a great intellect to figure out what's going on in the building construction industry.
The typical recession in the United States lasts less than 12 months. I had work until one week before election day in 2008 and then the phone stopped ringing. Anybody who is paying attention knows that Obama is a socialist and what that means for the economy. The economy will rebound quite nicely the day after the election in November 2012 if Mitt Romney is elected president and the Republicans hold a majority in the House and Senate.
If Obama is re-elected the slow economy will continue for another 4 years. It's quite obvious what's wrong with the economy.
McCloud
3:41 pm on Monday, July 16, 2012
Were not both houses of congress democrat controlled when they both passed the Medicare Prescription Drug Benifits? Just askin. And were not both houses of congress republican controlled when Clinton was President when they both passed balanced budgets? Just askin. As for the war, unlike you, I usually do not comment on things of which none of us know, such as the threat posed by secret operatives, so I do not voice an opinion bout that.
Millie
4:28 pm on Monday, July 16, 2012
As long as we as voters claim one party or another and fail to do an research or think for ourselves eiter party will get by with what they feed us
Guido McGinty
4:56 pm on Monday, July 16, 2012
"Were not both houses of congress democrat controlled when they both passed the Medicare Prescription Drug Benifits?"
Uh, no. Google is your friend, via wikipedia:
108th United States Congress
Duration: January 3, 2003 – January 3, 2005
Senate President: Dick Cheney (R)
Senate Pres. pro tem: Ted Stevens (R)
House Speaker: Dennis Hastert (R)
Senate Majority: Republican Party
House Majority: Republican Party
Republican, democrat, it does not matter. Liberty is not their concern.
John Walsh
6:15 pm on Monday, July 16, 2012
No, in 2004, both houses of Congress were Republicon controled. And Tax-Cut and Spend Bush was POTUS. Bush was asleep at the wheel with 8/6/01 PDF that warned of "OBL Plans Attack on US". Bush wrong, dead wrong on WMD's. Dam expensive mistakes. NEVER in American history did the USA cut taxes during war. In fact, the US raised taxes during EVERY other war in our history. Time to buck up and pay for Bush's War and Depression.
McCloud
4:15 pm on Monday, July 16, 2012
Once again there was no budget surplus, and no paying down of debt. It was a clever scam made up by Clinton by taking the 1997 year GDP and assuming the same rate for the next decade the math showed that a surplus was possible. Liberals have been repeating this lie since then, and by using it reveal their ignorance.
Goethe Behr
7:35 am on Saturday, July 21, 2012
And, likewise, Bush used the "surplus" fantasy to justify raiding the cookie jar that wasn't there. The rationale for the tax kickbacks was the surplus. Amazes me that people don't remember context.
Guido McGinty
4:53 pm on Monday, July 16, 2012
D. The 16th amendment should be repealed. The State has no rights to the fruits of its citizens' labor.
Richard Schulte
6:29 pm on Monday, July 16, 2012
John Walsh: "No, in 2004, both houses of Congress were Republicon controled. And Tax-Cut and Spend Bush was POTUS. Bush was asleep at the wheel with 8/6/01 PDF that warned of "OBL Plans Attack on US". Bush wrong, dead wrong on WMD's. Dam expensive mistakes. NEVER in American history did the USA cut taxes during war. In fact, the US raised taxes during EVERY other war in our history. Time to buck up and pay for Bush's War and Depression."
Mr. Walsh, I assume that you're joking.
The Clinton Administration told us the their were WMD in Iraq. And yes, September 11th did happen when George Bush was the president, but Pearl Harbor happened when FDR was the president. Does that make FDR responsible for Pearl Harbor?
Is it Bush's depression or Obama's depression. President Obama told us that he was going to fix the economy in 3 years. He also told us that the unemployment rate would never exceed 8 percent if the Stimuls Bill was passed. Further, Obama told us that the unemployment rate would be 5.8 percent right now.
Sorry, not buying the bull that you're trying to peddle.
President Obama is a marxist. Obama is no different from Fidel Castro or Hugo Chavez. Obama has wrecked the American economy. A stray cat named Ashley would have done a better job as President over the last 3-1/2 years.
John Walsh
10:07 pm on Monday, July 16, 2012
Richard, you are severly mentally ill. Please, seek professional help immediately.
Richard Schulte
8:16 pm on Monday, July 16, 2012
RUSH: "I think it can now be said, without equivocation -- without equivocation -- that this man hates this country. He is trying -- Barack Obama is trying -- to dismantle, brick by brick, the American dream."
RUSH: "The Democrat Party is a party that grows as people suffer. The Democrat Party is a party that expands its power as more and more people have their lives ruined in the sense that they cannot provide for themselves."
http://www.rushlimbaugh.com/
It's difficult to disagree with Rush. It seems to be the only plausible explanation for what's going on.
John Walsh
10:21 pm on Monday, July 16, 2012
It's difficult to disagree with a college drop-out? Someone who "flunked everything" according to Rushbo's mother? Who "flunked everything" at academic powerhouse, Southeastern Missouri State? No wonder Rushbo distains those with Ivy League educations, like Willard Romney. Difficult to disagree with a convicted drug addict? Do you abuse prescription drugs Richard? Would you emulate your hero, without equivocation.
Richard Schulte
6:37 am on Tuesday, July 17, 2012
John Walsh: "Difficult to disagree with a convicted drug addict? Do you abuse prescription drugs Richard?"
Correct me if I'm wrong, but JFK (D) was also addicted to pain killers used due to a back injury. Also correct me if I'm wrong, but Senator Ted Kennedy (D) left the scene of an accident where his female companion, Mary Jo, was left to drown and didn't report the accident to authorities until many hours after the accident. (Senator Kennedy was drunk at the time of the accident; that's why he waited to report the accident.) And Senator Robert Byrd (D) was a member of the Klu Klux Klan.
The fact that Rush Limbaugh became addicted to pain killers after back surgery is something that occurs quite frequently. To call Rush Limbaugh a drug addict is the same thing as calling thousands of Americans drug addicts because they have become addicted to pain killers after back surgery. When you start calling JFK a drug addict, Ted Kennedy a murderer and Senator Robert Byrd a racist, then perhaps your criticism of Rush Limbaugh might be considered to be a thoughtful criticsm. Until then, I'd consider you to be just another Democrat hack.
Mr. Walsh, you seem to judge people based upon their educational credentials, not on their accomplishments. When you stack up Rush Limbaugh's accomplishments and compare them to graduates of Ivy League universities, Rush outshines them all.
Rush is billiant and he's right about Barack Obama.
Richard Schulte
6:14 am on Tuesday, July 17, 2012
Goethe Behr: " "You should look up the word "decimate." It means ONE out of ten. It comes from the Roman practice of killing ONE soldier out of TEN. ONE out of TEN. That's ten percent. It does NOT mean "destroying almost everything."" "
"The problem with liberals is not that they know so much, but that they know so much that isn't true." Ronald Reagan
Mr. Behr, did you know Ronald Reagan? He sure knew you.
Definition of DECIMATE (from Merriam-Webster Dictionary):
transitive verb
1: to select by lot and kill every tenth man of
2: to exact a tax of 10 percent from <poor as a decimated Cavalier — John Dryden>
3 a: to reduce drastically especially in number <cholera decimated the population> b: to cause great destruction or harm to <firebombs decimated the city> <an industry decimated by recession>
"An industry decimated by recession"; what don't you understand?
Mr. Behr, you just made a fool out of yourself.
Richard Schulte
7:48 am on Tuesday, July 17, 2012
"Mr. Behr, you just made a fool out of yourself."
Correction-Schulte just made a fool of Mr. Behr. Looks like Mr. Behr is another product of the Chicago Public School system.
Mr. Behr, just in case you don't know this, the Roman civilization doesn't exist anymore.
Goethe Behr
7:28 am on Saturday, July 21, 2012
Sticks and stones.
The dictionary includes incorrect usage of a word when enough of us use it that way. The question raised was what does the word mean. Someone said ten percent. I was simply agreeing that that was the ORIGINAL, and as you note, the FIRST/PRIMARY meaning of the word.
Goethe Behr
7:31 am on Saturday, July 21, 2012
Regarding your comment that Limbaugh is "brilliant," he's only brilliant because he is such a "flaming" idiot. (In private, he admits that it's all an act. A very profitable one.)
Richard Schulte
7:56 am on Tuesday, July 17, 2012
Mr. Walsh: "Richard, you are severly mentally ill. Please, seek professional help immediately."
Mr. Walsh, those who have a mental illness often think that they are sane and everyone else is mentally ill. This seems to be the case in your case.
It appears to be a standard Democrat tactic to call anyone who expresses a viewpoint different from the standard Democrat line mentally ill. Citizens of the Soviet Union who disagree with the government were considered to be mentally ill and put in insane asylums. Apparently, there doesn't seem to be much difference between Democrats and the Soviets in this regard.
Let me state this once again so that I make myself clear:
Barack Obama is a marxist.
Rush Limbaugh is a brilliant political analyst.
Richard Schulte
8:08 am on Tuesday, July 17, 2012
"In a wide-ranging interview, Morris also said:
• Republicans are likely to pick up 11 seats in the Senate, which would give the GOP an all-important majority. [58 seats]"
Read more on Newsmax.com: Dick Morris to Newsmax: Rubio Is the ‘Only Choice That Makes Sense’
A pick up of 11 seats in the Senate. That would give the Republicans 58 seats in the Senate-close to a filibuster-proof majority. That should be sufficient to drive a stake through the heart of Obamacare and to make the existing income tax rates permanent.
Another Republican landslide in 2012. President Obama is the best campaigner and spokes-person the Republicans have.
Richard Schulte
10:06 am on Tuesday, July 17, 2012
"Obama's punitively anti-business policies have made it very difficult for businesses to flourish and for job growth to occur. His anti-business attitude and rhetoric have poisoned the market that much more.
If and when Obama is defeated in November, we should anticipate an explosion in business and entrepreneurial activity among ordinary Americans who realize they're about to be liberated from the most anti-business president in our history."
David Limbaugh
Source: http://www.gopusa.com/commentary/2012/07/17/limbaugh-the-most-anti-business-president-ever/?subscriber=1
Only two things holding the American economy back-President Obama and Obamacare. Get rid of both and we'll be in good shape. This recession should have been over 3 years ago.
Richard Schulte
10:55 am on Tuesday, July 17, 2012
Some thoughts on President Obama from the American Thinker website:
"In his heart of hearts, President O is always enraged at the American people -- those bitter clingers -- but this time it's personal. Gone is the smiling messiah, and in his place we see a persecutory personality, a real witch-hunter who may lose the election but won't pass up a chance to scourge this country with the whip of righteousness, to tell us what he really thinks. Under the smiling mask, Obama is Rev. Jerry Wright."
"Obama is not a conventional politician. For sure, he loves the trappings, Air Force One, the chance to finally lord it over other people. But Obama is dyed-in-the-wool ideologue. In the last four years he's changed everything except his deeply embedded beliefs. America is still the real enemy."
Read more:
http://www.americanthinker.com/2012/07/is_obama_ripping_off_the_mask.html#ixzz20taPxWpU
You can see it in President Obama's campaign-he's just another Chicago thug politician. And now President Obama is threatening Americans with economic chaos if he doesn't get the tax bill that he wants.
Mr. President, it's not about you.
Goethe Behr
7:24 am on Saturday, July 21, 2012
Yep. Mindless, baseless Obama hating has reached the recent level of mindless, baseless Bush hating.
Richard Schulte
6:21 am on Saturday, July 21, 2012
Ginny Stanton: "Does anyone notice that government employees and public school teachers paychecks do not show payments to Medicare?"
I can't say that this applies to all municipal public employees, but many muncipal worker are not part of the social security system-they have their own retirement system. The reason for that is that sociaI security is a rotten deal and so some how the muncipal worker have slipped out of SS to get a better deal.
I.M. Weasel
7:54 am on Saturday, July 21, 2012
Oh good, a new channel. First a fact check though. I believe that all employed people are required to pay the Medicare portion of FICA.
Richard Schulte
8:36 am on Saturday, July 21, 2012
I was a muncipal worker in California at one time-didn't pay into the Social Security retirement fund-there was a separate retirement system for municipal workers in California-CALPERS. I believe CALPERS is bankrupt now.
Richard Schulte
8:23 am on Saturday, July 21, 2012
Goethe Behr: "The dictionary includes incorrect usage of a word when enough of us use it that way. The question raised was what does the word mean. Someone said ten percent. I was simply agreeing that that was the ORIGINAL, and as you note, the FIRST/PRIMARY meaning of the word."
It would seem that the use of the word "decimate" in the context of the Romans is archaic. The Roman Empire doesn't exist anymore, but it shouldn't be necessary to explain that.
Richard Schulte
8:34 am on Saturday, July 21, 2012
Goethe Behr: "Regarding your comment that Limbaugh is "brilliant," he's only brilliant because he is such a "flaming" idiot. (In private, he admits that it's all an act. A very profitable one.)"
It is standard practice of the left to refer to their political opponents as idiots, being dumb or stupid, bigots, racists, etc. Call Rush any name you want. Call me any name you want. Name-calling is what children do.
Rush has an audience of between 15 and 20 million adults on a daily basis. There is almost nowhere where you can't hear Rush on the radio in the United States. The Rush Limbaugh Show has been on the air for almost 24 years. If Rush was a "flaming idot" as you've said, then it is unlikely that he would have been so successful.
My guess is that you've never listened to Rush and are just repeating the standard Democrat line. Mr. Behr, you should try listening to Rush some time-you might change your mind.
I said exactly the same thing as you did, until I started to listen to Rush in October 1994. The first day I listened, I said that this man is an ass. The second day I listened, I said that this man is an ass, but he's right. The third day I listened, I said no this man is not an ass, this man is just right. I've been listening to Rush for 17-1/2 years now.
I would also recomend that you try listening to Mark Levin. Both Rush and Mark Levin can be heard on WLS-AM radio in Chicago (AM 890). Laura Ingrahm is really good too.
Richard Schulte
12:01 pm on Saturday, July 21, 2012
Da Weasel, here is a little more on Obama the marxist:
"Obama of Roanoke, understand, is not merely a specific person named Barack Hussein Obama. He is Van Jones. He is Elizabeth Warren. He is Valerie Jarrett. He is Steven Chu and Cass Sunstein. He is Jeremiah Wright and Frank Marshall Davis and Karl Marx and many others. Obama of Roanoke is not some benign elegant speaker. Obama of Roanoke is a malignant mindset. His fingerprints are all over the biggest disasters in world history. For this reason, he was and is utterly predictable long before Friday last."
Read more:
http://www.americanthinker.com/2012/07/obama_of_roanoke_we_saw_you_coming.html#ixzz21HDcWAFJ
There is much more to this article than the excerpt above. It's well worth a read.
Richard Schulte
12:08 pm on Saturday, July 21, 2012
A little more for you to read Da Weasel:
"It is no secret that owners circulated endless emails leading up to election day discussing lay off plans were Obama to win. Entrepreneurs instinctively understand the danger posed by larger liberal majorities... the risk-reward equation and fierce independence spirit of start up businesses are anathema to the class warfare, equality of outcome and spread the wealth mentality of the left. [...]"
Read more:
http://www.americanthinker.com/2012/07/obama_of_roanoke_we_saw_you_coming.html#ixzz21HHEebh9
Yes, you read that right. My company's phones stopped ringing about one week before election day and didn't ring again for 7 months. The election of Obama was an absolute disaster.
Sully
12:27 pm on Saturday, July 21, 2012
Hey Rich- seen the new Batman movie yet? Boy, your man Rush is really on top of that scandal now, isn't he?
Frank
2:02 pm on Saturday, July 21, 2012
I only read about 1/3 of the comments because there are so many but there are some very intelligent folks posting on here (and I am not being sarcastic). I was wondering what some of you thing about the idea of a "FairTax"?
Goethe Behr
2:25 pm on Saturday, July 21, 2012
Frank: You should explain the term. From what I can tell, it's a sales tax, with a "standard deduction" so that the very poor don't pay.
My impression is that it would be very complicated to institute.
Also, as a tax on consumption, it would tend to discourage consumption--at least consumption of American products--so it would probably be bad for the economy. We'd probably see a lot more models of BMW and Lexis that were bought abroad.
I live in Michigan, so I could avoid all taxation by taking a little jaunt over the border to get provisions. We have a long border. We'd probably have merchant ships moored off the coast, like the old "pirate radio stations."
The site I went to quoted 30%. That's in addition to the state income tax. That might scare people off.
Another issue is that the super rich "spend" only a tiny amount of their money. They use the rest of it to, basically, gamble. Would you consider stock purchases as purchases? If not, why not?