Why not let all the tax cuts expire?

[Freeper]

letterwriter (83 posts) 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 Dec-02-10 05:32 PM
Original message
Why not let all the tax cuts expire?
   
The lower classes don't get that much of a tax cut anyway. Why not let it all expire? Let the unemployment expire as well. If we are going to balance the budget allowing all the tax cuts to expire as well as unemployment will get a lot closer to that goal. And - they can accomplish it by DOING NOTHING which is what Congress does best.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9675639

You will be the first to bitch when your take home pay is smaller your first check in Jan.

ProudDad Donating Member (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 Dec-02-10 05:43 PM
Response to Original message
6. That's much more rational than a $700 billion
   
giveaway to the already rich...

The median income citizen would pay about $70 per month more than now... (54,000 per year)...

The average rich **** -- $108,000

How in the hell is not confiscating as much from people a give away?
Yet if we dare say any entitlements are give aways we get called racist, homophobes. 

B Calm Donating Member (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 Dec-02-10 09:34 PM
Response to Original message
24. Whenever taxes go up, employers gives us better raises. Thats a fact!

 

Uh huh your employer that now pays higher taxes will be quite happy to pay you more.

dkf Donating Member (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 Dec-02-10 09:39 PM
Response to Original message
26. Because we live in lala land and think we can grow the debt forever.
   
Americans don't believe in sacrifice.

That's right you dems do think you can grow the debt forever.
What sacrifices are you willing to make? You cry and scream every day for more goodies from Uncle SAM.

[BattleHymn]

B Calm Donating Member (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 Dec-02-10 09:34 PM
Response to Original message
24. Whenever taxes go up, employers gives us better raises. Thats a fact!

This DUmmie is chomping at the bit for their chocolate ration to be increased from 30 to 20 grams.

[NHSparky]

Not that much, eh? 

Just for shit and giggles, I figured out how much my taxes will be going up when the tax cuts are not extended.

$3400 per year--that's just federal.  Look at what I can buy with that.  Few months of my mortgage.  An entire year of electric, phone, AND cable.  2/3 of my property taxes.  My heating oil, car registration, and insurance, with about $1000 left over.

Yeah, not that much.  ****sticks.

[MrsSmith]

My daughter recently started a job at $9 an hour to do all she can to support herself, her child, and her husband.  If the tax cuts are allowed to expire, she'll pay $1000 more in Federal taxes every year.  That's enough money to put tires on her vehicle and buy gas to travel to work for most of the year.  But I'm sure Pres. Obama and the DUmmies need that money way more than the kid that's working for it.   

[Allentownjake]

The middle class isn't what the argument going on right now is about.

It is the capital gains tax, and the reason Obama is so ready to compromise is one of his advisors explains to him what happens to the DOW if that cut expires.

Obama really has nothing to justify his existence right now, the market recovering some value from the lows of March 2009 are about all he has to hang his hat on (If you take the depreciation in the value of the $ he had to create to facilitate that, it is less impressive).

The capital gains tax cut, is the argument in congress right now.  The income tax argument isn't something they are that fundamentally concerned about.

[jukin]

AJ is right it is the capital gains that the feds are really worried about.

But back to the jackass DUchebag. The lower rate will go up 50%, from 10% to 15%. so lets take a look at the tax tables for 2009. T minimum wage one earns approx. $17.5K. Under existing tax rates one would pay $2211. under the Obama Pelosi tax hike that same person would pay $3317 or $1106 more. That's $85 a month.  So right there, imagine this, a DUmbass is wrong. Let's look at what would happen under the democrat tax hike if the person earned $54K. Old tax is $10056 new tax $15084 or $5028 an increase of $419/month. $419 is a really nice car payment. It could also be a refrigerator, washer, dryer, and LCD big screen payment. And it will be but not to the producer/owner/worker it will be for the welfare recipient and federal worker.

I did not work of AGI as that is too much work to prove a DUmbass wrong. I also believe that the Obama tax hikes will make the standard deduction lower as well as the personal exemption. These will be a secret hidden tax increase for the serfs that they do not even know about.

[Allentownjake]

Well it is why the GOP is in the bargaining position they are in with the White House in regards to the tax cuts.

The GOP can politically take an all or nothing approach.

For populism sake, the President has to talk about the Middle Class tax cuts.  He doesn't give a shit about those.

If he extends the tax cuts for the higher earners, which is a political nightmare of a reaction from his base and may inspire someone ambitious to start making trips to Iowa.

The GOP can pull the trigger on letting everything expire, and let the President deal with the political fallout of either Ben Bernake going into super ink jet move and monetizing the entire federal debt to keep the 401(k) statements going down again and the Pension funds solvent or an angry mob of sheeple pissed their 401(k) just got whacked again and their pension announced they are going to get less benefits or pay more into it.

[Freeper]

Well it is why the GOP is in the bargaining position they are in with the White House in regards to the tax cuts.

The GOP can politically take an all or nothing approach.

For populism sake, the President has to talk about the Middle Class tax cuts.  He doesn't give a shit about those.

If he extends the tax cuts for the higher earners, which is a political nightmare of a reaction from his base and may inspire someone ambitious to start making trips to Iowa.

The GOP can pull the trigger on letting everything expire, and let the President deal with the political fallout of either Ben Bernake going into super ink jet move and monetizing the entire federal debt to keep the 401(k) statements going down again and the Pension funds solvent or an angry mob of sheeple pissed their 401(k) just got whacked again and their pension announced they are going to get less benefits or pay more into it.

What Obama should do is, extend the tax cuts for 2 more years, and let the Democrats, I mean Democratics run on raising taxes in 2012.

[Allentownjake]

The problem the President has, is within his own party he is dealing with a quasi revolt as they blame him for the loss of the House and the lost Senate Seats.

Nancy is none to please, that she spent the past 2 years taking the beating from the press and the public from enacting the President's agenda in the house and neither is Harry.  They followed his leadership, they almost lost.  They are flexing some muscles with him right now.

He is having an easier time negotiating with McConnell and Boehnor than he is with his own party.

He has officially crossed over to Carter territory.

[Carl]

The problem the President has, is within his own party he is dealing with a quasi revolt as they blame him for the loss of the House and the lost Senate Seats.

Nancy is none to please, that she spent the past 2 years taking the beating from the press and the public from enacting the President's agenda in the house and neither is Harry.  They followed his leadership, they almost lost.  They are flexing some muscles with him right now.

He is having an easier time negotiating with McConnell and Boehnor than he is with his own party.

He has officially crossed over to Carter territory.

He did that Jake when Nancy wrote porkulis...not sure if she did his bidding or if he just allowed it but that monstrosity that flew in the face of all economic reason saddled him with the debt and a stagnant economy.

[Allentownjake]

Just be happy no one explained Keynes crazy broken window principle to him.

[Carl]

Just be happy no one explained Keynes crazy broken window principle to him.

Given the statement from the Administration that extending unemployment compensation will save 600,000 jobs I dare say they believe it whole heartedly.

[Allentownjake]

Given the statement from the Administration that extending unemployment compensation will save 600,000 jobs I dare say they believe it whole heartedly.

I'm more worried about him actively breaking windows.  He is kind of dense.

[true_blood]

letterwriter (83 posts) 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 Dec-02-10 05:32 PM
Original message
Why not let all the tax cuts expire? The lower classes don't get that much of a tax cut anyway. Why not let it all expire? Let the unemployment expire as well. If we are going to balance the budget allowing all the tax cuts to expire as well as unemployment will get a lot closer to that goal. And - they can accomplish it by DOING NOTHING which is what Congress does best.

3 words for ya; You're an idiot.
You do know we are in a deep recession, right? Not a recession, but a deep recession. If you think otherwise, you're head is in the sand. Wake up.

[Allentownjake]

3 words for ya; You're an idiot.
You do know we are in a deep recession, right? Not a recession, but a deep recession. If you think otherwise, you're head is in the sand. Wake up.

Oh hell we are in a depression if you take out the increased Government spending from GDP that was all borrowed and now is being created out of thin air through QE2.