| We hope you enjoy your visit. You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free. Join our community! If you're already a member please log in to your account to access all of our features: |
- Pages:
- 1
- 2
| Millionaires on Capitol Hill: Please tax me more! | |
|---|---|
| Tweet Topic Started: Nov 17 2011, 09:12 AM (320 Views) | |
| Jim Miller | Nov 17 2011, 09:12 AM Post #1 |
|
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
Why don't they just write a check?LINK |
![]() |
|
| Thumper | Nov 17 2011, 10:14 AM Post #2 |
|
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
Republicans just can't pony up and pay tax. |
![]() |
|
| tomdrobin | Nov 17 2011, 11:57 AM Post #3 |
|
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
The Republicans don't have much choice. If they moderate their position and go along with tax increases their wealthy supporters and Tea Party thugs will not support them, and run replacement stooges against them in the primaries. This is what is wrong with politics in America. |
![]() |
|
| Thumper | Nov 17 2011, 11:00 PM Post #4 |
|
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
The Gop has become the party of the "haves". |
![]() |
|
| Chris | Nov 17 2011, 11:17 PM Post #5 |
![]()
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
It would be illegal for the supercommittee to raise taxes. |
![]() |
|
| Pat | Nov 18 2011, 12:37 AM Post #6 |
|
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
I laughed when I read this. So let's examine what these so called millionaire patriots have done, but first we have to be clear about the source of the money they want taxed at a higher rate. Congress is exempt from insider trading laws. If you want to become a multi millionaire, there is nothing like some stock tips to get you there in a hurry. Of course this isn't the sole source of their wealth, but for many it makes up the bulk they have accumulated. When tennis shoe toting school teacher Patty Murray was elected to the senate she was not a millionaire. Her luck has changed in that department. Ok, enough of this tangent. Let me finish my saying that when the source of wealth is a nonstop pipeline to insider information, it's a little easier to agree to higher tax rates. Those of us who did it the old fashion way, have a different way of viewing the government fleecing at the hands of the insider traders in congress. |
![]() |
|
| tomdrobin | Nov 18 2011, 02:50 AM Post #7 |
|
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
They could recommend a tax increase to the congress though. All the Republican members have signed the no tax increase pledge. So much for negotiations. We have to pay the bills. The draconian cuts needed to balance the budget would exacerbate the pain of the recession on those hurting the most. And, most likely would slow the recovery. At some point folks will start realizing what it means to them personally and the other shoe will fall. I have no argument with scaling back entitlements. But, it has to be done gradually, while maintaining revenue. This "starve the beast" mentality is not the way to go. You cut revenue (aka taxes) after you have got spending reduced. Not, seriously reduce revenue, and then cry for the cuts. |
![]() |
|
| Pat | Nov 18 2011, 03:04 AM Post #8 |
|
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
With $ trillions in deficits piling up Tom, the only sensible way forward in an economy as sick as ours, it to cut spending. We can cut back defense by half and still not balance out the spending, so the only logical place left to cut is entitlements. Plus we have the problem of the unfunded prescription drug entitlement that Bush and the corporatist backed cronies in congress passed. And we have the healthcare law that is partially funded to deal with. We're sinking faster than a drunk on a bar stool at 2AM, yet the democrat mantra is to pile all this on the back of the top 1% in wage earners. If you want revenue, then we need to address the issues that prevent growth in the business sector. American companies pay more in corporate taxes than their competitors. You have to back off expensive environmental regulations that prevent growth in factories, the energy sector, agriculture and apply common sense. Snail darters and owls might be cute (I've never seen one), but are they more important than energy and jobs? The pledge you speak of by republicans was in place before the dept commission was formed. So it was naive for all involved to believe the congress members would go back on their words. Edited by Pat, Nov 18 2011, 03:06 AM.
|
![]() |
|
| Chris | Nov 18 2011, 03:27 AM Post #9 |
![]()
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
Right, they can't raise taxes, they could make recommendations, but to argue raising taxes to the point of a standstill is merely playing politics. And you're right, those recommendations would be defeated in the current House. In then end automatic triggers will cut a trillion and a half (iirc) from defense and welfare. That's good. A step in the right direction. A gradual one. The question then remains is it enough? |
![]() |
|
| tomdrobin | Nov 18 2011, 03:31 AM Post #10 |
|
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
I don't argue that cutting spending is in order. But, revenue increases have to be part of the package also. Top tax rates of 34% on taxable income and 15% on capital gains are historically low. Taxes after WWII were more than double that. And, I didn't notice any job killing from it. Our corporate tax rates are higher than other countries, but the taxes they end up paying due to exemptions and loopholes is actually much lower. I heard the president of GE on TV say that we should lower the rate to a realistic level and then eliminate expemptions and loopholes, I don't have a problem with that. Of course one of the biggest incentives to reinvest in factories, equipment and people is the tax breaks to avoid paying the higher rates. |
![]() |
|
| 1 user reading this topic (1 Guest and 0 Anonymous) | |
| Go to Next Page | |
| « Previous Topic · Fire And Ice General Discussion · Next Topic » |
- Pages:
- 1
- 2





![]](http://z3.ifrm.com/static/1/pip_r.png)





10:40 PM Jul 11
