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Can you justify why Republicans want to continue tax cuts?

for the wealthy without finding a way to pay for them, while denying unemployment extensions for the same reason?

And please, don't say 'small business' because 95% of small business won't have a tax increase either in the recent tax.

And please, don't say 'jobs', because jobs are determined by both demand and supply, and demand is from marginal revenue, not profit.

And please, well never mind, the odds of getting a sincere answer from a republican is a million to one.

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  • 10 years ago
    Favorite Answer

    No, I cannot.

    I watched about 20 seconds of Brit Hume trying to lecture Juan Williams that the tax cut to wealthy people will mean more jobs. He was talking "trickle down economics". Voodoo economics as George H. Bush referred to it.

    Republicans would not vote to extend UI benefits unless it was funded. Yet they have no problem with unfunded tax cuts for the wealthy. As Williams said, "If the Republicans wanted to have made them permanent they should have done it in the legislation at the time."

    Additional: It never ceases to amaze me at how protective Americans are over folks who make more that $250,000 a year. They benefit most from this society & good for them - now let them pay their fair share.

    Folks want to talk about reducing the deficit like they do the weather. Ending the tax cuts for those earning more than $250,000 will help to get those numbers down.

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  • .

    Well, it's part of their mantra: "No taxes. No regulations. Repeal, repeal, repeal. Plan? PLAN? We no need no stinkin' PLAN!!!"

    Not surprisingly, I'm sure that you'll get some answers from folks who justify tax breaks for people wealthier than themselves, yet don't seem to mind that Bush's multi- multi-billion dollar tax cut was NOT paid for, nor was the Iraq War. (When asked at the beginning how much the Iraq War would cost, he snapped "Only about $80 billion." If/when any tier/s of the tax cuts cease/s, the rate reverts back to what it had been... the temporary break is over.

    Any sensible, prudent person who can earn $200K or more should also know enough to PLAN for the ending of the tax break; it's not like it was a secret or a mystery that the unfunded tax breaks would end, for some if not all.

    As far as rates rising, the $200K+ folks will see the rate go from its present 23%, up 3%to 26%; and for those over $259K, the rate now of 26% rises to 29.5%... if I'm off on those figures, it ain't by much.

    However, the liars on the other side of things will misquote the chart that was in the papers the other day, which sowed ALL of the tax-tiers and what the rise in rate would be for EACH tier. What they CLAIM is that ALL rates will rise... but it's just the top 2 tiers.

    NOBODY else sees taxes rise.

    But let the hornswoggled, bamboozled lied-to-by-FOX -et-al corporatist mouthpieces.

    .

    Source(s): . Watch for legislation aimed at raising the upper limit on Social Security 'contributions.' Presently, no deductions are made from the amounts OVER $101,000 (7.5% from you, 7.5% from the employer; or 15% from the self-employed): watch for that to change upward, as it should. And lest folks misunderstand --or worse, be misled by right-wing liars-- is that when you start having SocSec deducted from your paycheck, as I did starting at age 15, you won't collect on your investment for 50 years... it is NOT a handout, it's YOUR money. Some people hear the word "entitlement" and are misled into thinking that it's charity: it's NOT. To quote that guy on TV (y'all know who I mean): "It's YOUR money, spend it the way YOU want to." .
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  • 10 years ago

    Sure, all it takes is a little pencil and a piece of paper. Where do you want to start in regards to the Rich ? How about taking the top 5% of all tax payers. That top 5% pay 60.63% of all the taxes as it is. Why should they have to absorb more of the burden than they are already paying. The top 1% pays 40.42%

    The bottom 50% only pays a total of 2.89% of all of the taxes?

    Would you care to learn what the top 5% paid prior to the tax cuts? For the tax year 2000 the top1% paid 37.42%, the top 5% of wage earners paid a total of 56.47% of all taxes, the lowest 50% paid 3.91% of all taxes.

    You want to stop the Bush tax cuts, I am sure the rich are saying PLEASE DO!!

    Denying unemployment extensions or trying to force democrats to honor their own Pay/Go legislation. Deny unemployment of use some of the remaining $860 billion stimulus package where there is $180 billion still left unspent?

    Did republicans block the unemployment extension package as the liberal media tells you they did or did the democrats block every attempt to find an alternative to funding this without adding it to the national debt, which happens to be the real truth of the matter. The only thing the republicans were trying to block was more debt being added that was an unnecessary addition.

    Now, do you consider our economy good enough to increase taxes? Does it make sense to you that since your employer provided health care will be taxed starting in January, to increase the amount of taxes.

    Do you realize that a single person with $27,000 in taxable income will see his income taxes rise from 15% to 28.5% if the Bush tax cuts end?.

    You can doubt my data, but I think you know that I have it and it is not biased.

    Update:

    BAD ObamaBot, BAD..

    I would expect that a good ObamaBot would mention that Obama has his own tax proposal. He mentioned this during his campaign. I originally did not include this in my answer because it was not mentioned in your question.

    There are a couple of things that can happen with taxes.

    First, the Bush tax cuts can continue, second the Bush tax cuts can expire, third the Obama proposal can be implemented.

    I mentioned a single person making $27,000 a year and how his taxes would increase. Let me now show you the effects.This assumes using only the standard deductions.

    With the Bush tax cuts that person will pay $2,199. If the Bush tax cuts expire they would pay $2,625, an increase of 19% If the Obama plan is implemented then that same person would pay $1,799 a decrease of 18% with Bush tax cuts or a decrease of 31.4% with out the Bush tax cuts.

    A married couple making this amount of money will pay $0.00 under the Obama plan, $800 under the Bush tax cuts and $1,485 if the Bush tax cuts are ended.

    Lets assume you make $500,000 per year and are single and again we will use standard deductions.

    With the Bush tax cuts you pay $148,904

    Without Bush tax cuts you pay $166,231

    With Obama plan you pay $160,065

    If the tax cuts expire you will pay 11.6% more in taxes if the Obama plan is implemented you will pay 7.5% more

    If you doubt my numbers, or if you are just plain curious you can go to the following web site and validate all of this for yourself.

    http://www.mytaxburden.org/

    My guess here is that the wealthy would rather see the Obama tax plan than to see the Bush tax cuts ended

    @Ralph B.

    One would like to think that ending tax cuts on those making more than $250,000 would bring down the national debt. In fact I would pray that it did so. The truth is about the only thing it would accomplish is to lower the rate at which the national debt is rising. If you want to lower the debt you have to quit borrowing money and cut back every place that you can. You would need to cut $1.4 trillion from the budget just to stop adding debt, this is 36.8%.

    To start paying off the debt you need to make further cuts so that there is money left over. Each 1% of the budget you would cut would equal $250 billion payable to the debt.

    The only way that I see to pay off the national debt is through massive tax increases on everyone and massive cuts in government spending.

    @Levi Johnson -

    Let me start by showing you the tax tables from the year 2000 for a single person and then the table for 2010

    Single

    Marginal Tax Brackets

    Tax Rate Over But Not Over

    15.0% $0 $26,250

    28.0% $26,250 $63,550

    31.0% $63,550 $132,600

    36.0% $132,600 $288,350

    39.6% $288,350 -

    Single

    Marginal Tax Brackets

    Tax Rate Over But Not Over

    10.0% $0 $8,375

    15.0% $8,375 $34,000

    25.0% $34,000 $82,400

    28.0% $82,400 $171,850

    33.0% $171,850 $373,650

    35.0% $373,650 -

    The reason that I show these is more because there seems to be a conflict in your response. I don't think that you are lying, I think that what you are reporting is what the tax structure would be under Obama's plan.

    Under the current tax structure congress would have to modify the existing structure to prevent those making less than $250,000 from seeing an increase. Notice that the 33% tax class includes those making $171,850 up to $288,350.

    I think that there is a lot of people that are confused by the statement "make more than $250,000 per year"

    That figure is TAXABLE income, not gross income. A person might make $300,000 per year but then have more than $50,000 in legal deductions that would lower their taxable income to below the limits of a tax increase.

    Source(s): Independent fiscal conservative
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  • Anonymous
    10 years ago

    When was the last time a bum gave you a job? Many of those who make $250,000.00/yr are NOT INDIVIDUALS...THEY ARE SMALL BUSINESS OWNERS WHO PROVIDE OVER 90% OF THE JOBS IN AMERICA.

    Why give tax cuts? Because history has shown that the way back to prosperity is thru tax cuts, not excessive spending, not destroying and villainizing the private sector, not overburdoning people with taxes in a recession. You clearly have no handle on basic economics, so give it up.

    If the private sector is completely uncertain about what regulations and deep tax burden will be coming, they will wait and not hire people....there is no demand when people have NO JOB. Who will remodel their bath and kitchen when they just lost their job? Are you that dense?

    You can supply all the product you want, but it makes no difference and no sense when there is no demand for any of it. People will only begin a healthy demand when they return to work, which is when we can GET OBAMA THE HELL OUT OF THE WHITE HOUSE. I believe that he is destroying this economy ON PURPOSE AND BY DESIGN, which is why he refuses to stop his expansion of govt, demonizing the private sector, excessive spending and endless entitlements to keep the people at bay while he continues on the road to causing our economy to IMPLODE.

    Source(s): http://www.theobamafile.com (time to find out who this character actually is....and weep) http://www.freedomworks.org WE ARE TAKING AMERICA BACK http://www.the912project.com http://www.glennbeck.com/828/ JOIN MILLIONS OF US AS WE GATHER AT THE LINCOLN MEMORIAL ON 8/28/10; this is not political: leave signs at home and bring your children. WE ARE GATHERING TO RESTORE HONOR IN AMERICA. IF YOU NEED TRANSPORTATION, JUST CLICK ON THIS LINK: http://www.glennbeck.com/828/ AND WE WILL HELP YOU
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  • What do you liberals classify as 'wealthy'?

    The tax cuts should remain we can't afford to raise taxes at this time! That is the point we are trying to tell you. Liberals don't distinguish from wealthy and poor. All you want to do is raise taxes, well we want to cut taxes. Small business make up a lot of the economy and their drowning in this economy with all the taxes. We need to make it easier for them to start a business. And to make it easier we need to cut taxes not raise taxes. Jobs are created by the people not the government.

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  • 10 years ago

    We don't need tax cuts. We need to abolish certain taxes altogether. And I'm sorry but societies have proven over and over again that the more free an economy is from taxation and regulations, the lower the unemployment and the higher the standard of living. Hong Kong and Singapore have very low unemployment.

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  • Anonymous
    10 years ago

    The only tax cuts we can justify are for individuals 200k and below and families 250k and below.

    That is something we like to call the MIDDLE CLASS.

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  • Anonymous
    10 years ago

    If the cuts are not extended, business has zero reason to expand. The govt. makes it extremely difficult to make a buck and tax the hell out of people that are business owners. The economy will take a big s if they are not extended. Why or how can business expand if productivity is punished?

    Or better yet, have you ever gotten a paycheck from a poor person?

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  • 10 years ago

    Why would anyone want to pay more taxes than they have to?

    I'd do a better job managing the money than any dam dirty politician. That's a fact!

    http://www.youtube.com/watch?v=Z5z9lD4C2Io

    Youtube thumbnail

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  • Anonymous
    10 years ago

    of course i cant justify it,but ill try and explain it.its what they get paid to do.you keep forgetting who pays these guys.big business.i don't know why we are even questioning the whys because we already know why.the almighty dollar.

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