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kentuck (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Thu Jul-22-10 10:43 AMOriginal messageThe Bush taxcuts did great harm to our country. In the last ten years, the middle class has broke even or lost ground. A successful economy will grow the middle class.Taxcuts do not create jobs unless they are stifling investment. Not only is the present tax system not stifling investment, it is encouraging irresponsible gambling with capital. Companies no longer want to make money the "old-fashioned way", they want the quick buck promised by the gamblers on Wall Street. They do not wish to make money by producing products or by hiring more labor, instead, they prefer to make "paper" profits, which can disappear with the wind.Taxcuts have had a negative impact, not only on our deficits, but in other ways not yet understood. They have stolen our way of life and diminished our freedoms. We need to get control of our government. We need to take it back from the corporations and Big Banks that have taken over every aspect of our government, the military, the Supreme Court, the Executive Branch, and the Congress. We need massive reform and letting these taxcuts expire is a good first step.If the Democrats fold on letting these taxcuts expire, they will be making a huge mistake. We need major reform and continuing the "trickle-down" economics of Reagan and Bush, Jr is the wrong direction to take. Democrats will pay dearly if they permit that to happen. It is so disheartening to read that they are even thinking such a thought.
kentuck (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Thu Jul-22-10 11:44 AMResponse to Original message3. Think about it... These taxcuts have permitted the wealthiest to gain more control over our government than they have ever had before. The Supreme Court rules that money is free speech. We subsidize corporations to take their jobs and their companies overseas with these taxcuts. They have more and more money to bribe the politicians of both Parties. Now they are bribing the American people by with holding investment and jobs from them for political purposes. They are all playing the game of international finance. giving them the wealth to play this game is detrimental to us all. Look at the results.
A corporation makes those Cheetos that you munch on after each bong hit so you will be affected by this.
kentuck (1000+ posts)Thu Jul-22-10 10:43 AMOriginal messageThe Bush taxcuts did great harm to our country. In the last ten years, the middle class has broke even or lost ground. A successful economy will grow the middle class.
A rising tide sinks all boats.
Remember that if the Bush tax cuts are allowed to expire, it will mean a tax increase from 35% to 39.5% on income for the top bracket. That is on top of an increase from 15% to 20% on capital gains and dividend rates. Here's something that escapes most of the wealth envy crowd - the people who applaud tax increases on the evil rich. MOST of the people in this country - the small business owners who we depend on for somewhere between 75% and 80% of all jobs and job growth - will be hit with this tax increase. That's an extra 4.5% or more right off their bottom line ... right off the bottom line of people we want to step up and spend money to expand their businesses and hire people. On what level does that make sense? Well .. I guess it makes sense when you're effort is to redistribute wealth rather than growing our economy; and remember - Barack Obama is completely and totally dedicated to the concept of wealth seizure and redistribution. His drive toward government control of who-has-what will trump any desire for overall economic improvement.
If you don't happen to be one of the dumb masses .. then perhaps you might be interested in This information is from The National Center for Policy Analysis.: Here is what happened when Bush cut taxes: Though job creation was slow immediately following the recession and during the first stages of the recovery, it had increased dramatically by late 2002 and 2003.•1.4 million jobs were added in the nine months after August 2003 (the 2003 tax cuts were signed into law in late May 2003).•The unemployment rate remained steady at 5.6 percent in May 2004, well below its peak of 6.3 percent a year ago. •The Treasury Department estimates that without the tax relief, as many as 1.5 million more Americans would be out of work right now, and the unemployment rate would be well over 7 percent.The report says that the job growth statistics are particularly noteworthy because of greater-than-expected increases in productivity levels. High rates of productivity tend to mean less employment:•Productivity grew at a 4.6-percent annual rate in the first quarter of 2004, continuing the trend of large gains in productivity since 2001 due to investments in equipment and technology.•Higher productivity increases incomes and keeps inflation in check.
