-----Original Message-----
From: geoffrey theist <gtheist957@gmail.com>
To: opendebateforum <opendebateforum@googlegroups.com>
Sent: Sat, Sep 29, 2012 7:16 pm
Subject: Re: So We Raise Taxes on the Rich; Then What? Rich taxes = 5% of budget defic...
-- From: geoffrey theist <gtheist957@gmail.com>
To: opendebateforum <opendebateforum@googlegroups.com>
Sent: Sat, Sep 29, 2012 7:16 pm
Subject: Re: So We Raise Taxes on the Rich; Then What? Rich taxes = 5% of budget defic...
so you will pay federal tax hikes and higher prices on goods due to higher corporate taxes why don't you cut your own nose off to spite your face?
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On Fri, Sep 28, 2012 at 5:30 PM, <lynnk05@aol.com> wrote:
Excellent, and then of course you would know that recessions are caused by sticky prices. Which means that they don't pay taxces and they charge too much, and we are back my original premise: They need to pony up.
-----Original Message-------
From: SpaceRace65 <SpaceRace65@aol.com>
To: opendebateforum <opendebateforum@googlegroups.com>
Sent: Sun, Sep 23, 2012 11:40 pm
Subject: Re: So We Raise Taxes on the Rich; Then What? Rich taxes = 5% of budget defic...
Except for the small problem that corporations don't pay excess taxes; their customers do. Any economist who is worth his / her salt (and I'm not one) knows this.And the word "especially" does not fit in your paragraph. You do not pick and choose.--In a message dated 9/23/2012 11:19:02 A.M. Central Daylight Time, lynnk05@aol.com writes:Well it's obvious that corporations need to pony up too. Especially those who collected billions from the wars. You know, xe, Bechtel, General Dynamics, Halliburton, and all their subsidiaries. They wanted to be treated ad individual. So let them.
Sent from my Samsung smartphone on AT&T
lew <lewcoop@aol.com> wrote:
>So We Raise Taxes on the Rich; Then What? Rich taxes = 5% of budget
>deficit.
>
>
>by Mike Flynn22 Sep 201288
>biggovernment.com
>
>Ask President Obama or, really, any random liberal about the deficit
>and their answer will make heavy use of the words "Bush," "rich," and
>"tax cuts." The left has constructed a narrative that our fiscal house
>is in disarray because, a little over a decade ago, Bush enacted a
>"massive" tax cut for "the wealthy". If we let these tax cuts for the
>rich expire at the end of the year, they argue, we will go a long way
>towards climbing out of our fiscal hole. This is a myth.
>
>As Congress left on recess, House and Senate GOP lawmakers said that,
>if Obama wins reelection, they will have to reconsider their
>opposition to higher taxes on the wealthy. This is either a calculated
>move to fire-up the GOP base or, more likely, given what we know about
>the Senate GOP, a preemptive display of weakness.
>
>Ok, so let's say we're going to let the Bush-era tax cuts on the
>"rich"--currently defined as households making more than $250,000 a
>year--expire. How much will the higher income tax rates bring in?
>
>$56 Billion a year.
>
>Our current deficit is over $1 trillion a year.
>
>So, higher income taxes on the "rich" will solve about 5% of our
>deficit problem.
>
>Part of Obama's plan to raise taxes on the "rich" also would scale
>back or eliminate many deductions and credits they use to minimize
>their tax burden. Basically, the more you earn over a certain level,
>the more currently allowed deductions and credits would be reduced.
>What would this bring in? About $27 billion.
>
>Eliminate "subsidies" for Big Oil? About $4 billion a year.
>Altogether, Obama has hobbled together some additional tax hikes on
>the "rich" bringing the government's total take to just over $100
>billion a year.
>
>Ok, liberals, you've just identified a path to plug 10% of our annual
>budget hole. What else you got? Crickets. I know Obama says he plans
>for another $300 billion a year or so in "savings," but these are
>always far out in the future and never quite seem to arrive. A large
>part of them is also based on very rosy economic assumptions.
>
>Of course, even if these miraculously came to pass, you're still only
>solving about 40% of the deficit problem. Again, what else you got?
>
>The sum total of Obama's and the left's plan to reduce the deficit,
>apparently, is to go through the nation's couch cushions looking for
>loose change.
>
>Oh, and this isn't drawn from some conservative interpretation of the
>numbers. These numbers come from Obama's own plan to reduce the
>deficit (pgs 218-219).
>
>Its pretty clear that letting Bush-era tax cuts for the wealthy expire
>is just the left's opening bid on tax hikes. The main problem with the
>wealthy is that there aren't that many of them. Obama's current plan
>would cover about 8-10 cents on every deficit dollar. Where is the
>rest of the money going to come from?
>
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