 |
| Source:Andy Greenshaw- Since when does the Left (especially the Far-Left) care about the budget deficit and national debt. |
"I couldn’t agree more with Fareed Zakaria’s latest article in the Washington Post about the Bush Tax Cuts.
Republicans and Democrats both agree that the massive U.S. budget deficit looms as one of the most dangerous threats to our nation’s economy. And Congress has the opportunity to immediately eliminate a fourth of that deficit by doing nothing.
The Bush Tax Cuts are set to expire this year, which will inevitably cut about $300 billion from the U.S. budget deficit. These massive tax cuts – passed in 2001 and 2003 – lowered taxes for the wealthiest 3 percent of Americans."
From Andy Greenshaw
On Friday, Obama met with congressional leaders for the first time since his reelection. The subject of discussion was how to handle the tax hikes and automatic spending cuts set to take effect on January 1. House Speaker John Boehner came with a proposal: Instead of racing to craft an alternative package before the new year, Boehner suggested, why not just pass a bill preserving the status quo for six more months, giving everybody a chance to work out a deal? But nobody expects Obama to go for it, unless Republicans agree to a deal on taxes that's largely to Obama’s liking. A senior Democratic aide on Capitol Hill thinks he sees a game of Texas hold 'em underway, with Obama winning...
From The New Republic
Pre-2001 people in the bottom tax rate making up to I believe 75K$ a year, paid 15% in income taxes, after the Bush tax cuts and there were some actual good provisions in it, lower middle class and middle class workers were paying 10% in Federal income taxes, they've seen a 50% tax cut over ten years, so if you were a plumber or construction worker making 50K$ a year back in 2000, you paid, 7,500K$ a year in income taxes. After 2001 someone with the same income was now paying 5,000K$ a year in income taxes. They saw a 2,500K$ reduction in income taxes and with how badly the economy has done the last.
Ten years with a lot of people in that income bracket out-of-work or working less then they would prefer or could even afford. That extra 2,500K$ a year could be the difference in someone making their car payments or mortgage payments, putting money away for their kids. College education and not being able to do that because the Federal Government is taking an extra 2,500K$ a year in taxes.
So raising or increasing taxes on people who can't afford it right now, is bad for the economy and deficit reduction. Because without a strong economy, with strong economic and job growth, we'll never get the debt and deficit under control. Because we'll never generate the revenue needed as a country to accomplish that.
So raising or increasing taxes on people who can't afford it right now, is bad for the economy and deficit reduction. Because without a strong economy, with strong economic and job growth, we'll never get the debt and deficit under control. Because we'll never generate the revenue needed as a country to accomplish that.
House Republicans will never go along with the 250K$ cutoff point to where we increase taxes in this Congress or in the next Congress, even if the Democratic Senate were to pass that. And going over to the fiscal cliff to try to prove me and others wrong on this, is not the way to find out, we need to avoid that.
We need to come up with a balanced approach that will work that both Democrats and Republicans can agree to that that won't hurt anyone who can't afford to be hit right now and with how Speaker Boehner is talking right now, we can do this.
At some point whether it's in this Congress or not, Speaker Boehner will go along with something like a millionaires tax. As long as its used to pay down the debt and deficit and comes with serious budget cuts as well and thats what we need, new revenue and budget cuts that we can do, without hurting people who can't afford it and more importantly hurting the economy.
At some point whether it's in this Congress or not, Speaker Boehner will go along with something like a millionaires tax. As long as its used to pay down the debt and deficit and comes with serious budget cuts as well and thats what we need, new revenue and budget cuts that we can do, without hurting people who can't afford it and more importantly hurting the economy.
We can get the debt and deficit under control by making entitlements stronger, as well as the broader safety net stronger and more affordable and reforming them in a way where we can actually put these people to work and get them off of public assistance all together. And have these people paying taxes because they can afford it and we can do more with the defense budget and get past a cold war strategy and more ready for the 21st Century, but middle class tax hikes doesn't get us there.
As the President says we need a balanced approach that works and doesn't hurt anyone who can't afford it and actually solves the problems in front of us and something like a millionaires tax and entitlement reform and more savings in defense. Will get us there and then of course something to spark new economic growth will get the job done but you. Don't increases taxes on people that you want to spend money, if you are trying to spark new economic growth.
As the President says we need a balanced approach that works and doesn't hurt anyone who can't afford it and actually solves the problems in front of us and something like a millionaires tax and entitlement reform and more savings in defense. Will get us there and then of course something to spark new economic growth will get the job done but you. Don't increases taxes on people that you want to spend money, if you are trying to spark new economic growth.
No comments:
Post a Comment
All relevant comments to the post that you're trying to comment on, that don't include spam or personal comments about the author, will be accepted at FRS FreeState.