Conservatives! Are you STILL demanding that the Bush Tax Cuts be extended for the rich?
The Bush Tax Cuts are automatically set to expire at the end of 2012, thus returning tax rates back to what they were during the 1990s. Obama wants to extend the tax cuts for everyone except the rich. Are you still demanding that the rich get their tax cuts extended as well?
This is a repost of a Y!A question, worded slightly differently.
Gee Wally, I agree with that. We should start cutting taxes for everybody, starting with the middle class. We'll get around to the rich another time.
Ron Powers, wow, you really do believe that, it's the rich people that creates all the jobs for the rest of us schmucks. It's the rich people that makes this country so prosperous. Next, you'll say that it's the rich people that are so much smarter than the rest of us. Maybe they are right, if people like you are convinced of that.
Knowledge is Power, please see my other question. This one is different.
Ron Powers, just take a glance a this, and you tell me that "the rich is getting the hell taxed out of them". I'm not going to try to explain this chart to you, that's your job.
Ron Powers, see that little drop just before the current top marginal rates? That's what Obama is saying should go back up as the top marginal rates. Nobody is talking anything like the top rates this country USED to have. But apparently, a lot of people like you don't bother with history, graphs, or statistics. It's just an ideological point you wish to be making.
Ron Powers, one more time, if you insist on having an argument right here and then. The presumption with this article claiming that taxing the rich "won't work" is that any tax dollars collected by the Federal government does nothing for the economy. Nothing further can be from the truth, but conservatives have already made this into an axiom of sorts. When the Federal government spends or grants the tax money, it goes back into the economy and creates or at least support jobs.
- bleurozeLv 78 years agoFavorite Answer
Tax cuts are a great theory. In theory, theory and practice are the same. In practice, they are not.
o why don't they work? Let's start with the theory, in basic English. In theory, by automatically giving tax cuts, the super rich have money to create jobs. This means a higher employment rate and a better economy.
How's that working out for you? Because my husband has been unemployed since completing his degree two years ago.
See, the problem is in practice. We're not giving incentive. You get the cut whether you create the jobs or not. So, why create the jobs? Why not keep that money for yourself?
It's like giving your teenager his allowance before he does his chores, not getting the chores done this week, and still giving him his allowance so he can do his chores next week. Would you do that?
When you claim deductions for childcare on your taxes, is it so you can get childcare next year or because you did get childcare in the year you're filing for?
When taxes are high, there is an opportunity to lower tax liability through hiring and expanding your business. This keeps taxes low and employment high.
The rich can afford to have higher tax rates because they can take advantage of more deductions. This almost always brings their rates lower anyway. The difference is whether the rest of the economy thrives.
See, the Democrats actually have a trickle down policy that works. And has been proven in practice, not just theory.
- 4 years ago
No one clearly believes the claim that "tax cuts increase revenues." No evidence is ever offered to help the claim, considering it can be not supported through fact. George H.W. Bush as soon as used the time period "voodoo economics" for that form of tax-slicing philosophy. Except he became Ronald Reagan's running mate and learned to love the "voodoo." Hypocrites? Good, yeah. But clever ones: they've discovered the right way to persuade bad and center category Republicans that tax cuts for the wealthiest in some way will improvement those below, although it does no longer occur. Conservative Ronald Reagan tripled the national debt via tax cuts and deficit spending, and conservatives treat him as a god. George W. Bush inherited a treasury surplus and grew to become it into a deficit by way of tax cuts and an useless war in Iraq that has cost us over 1000000000000 greenbacks and the lives of 1000s of courageous young americans. And conservatives love him. Almost as much as they hate President Obama. So, if President Obama is in desire of a payroll tax cut, conservatives oppose it. It can be simpler than having to certainly consider about the actual pros and cons of the limitation.
- 8 years ago
Guess what??? All the propaganda doesnt matter... the rich earn their money off investments.... and that tax is 14%
It isnt income tax they pay.. its CAPITAL GAINS..... and if you whack the rich... you whack EVERYONE who gets capital gains....
Either way... the middle class gets a tax increase...
Change you can believe in... huh???....
- Anonymous8 years ago
How about no taxes ( of any kind ) for anyone making 25k or less?
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- Truth is elusiveLv 78 years ago
I have never been opposed to tax hikes and paying necessary taxes. However, before there are any tax hikes, there should actually be an effort made to cut unnecessary spending, streamline programs, and responsibly spend the trillions of dollars already given in taxes. Currently, raising taxes simply means more waste.
- Erika348Lv 78 years ago
LMAO - You don't get it do you? Letting them expire won't even put a TINY DENT in the deficit run up by the Obama administration.
- KennyLv 78 years ago
Conservatives and liberals both just along for the ride .
- Rev. Hal LuyaLv 78 years ago
I got an idea. Lets take turns! It's now the middle classes turn for substantial tax breaks.
- 8 years ago
You cannot just tax the hell out of the rich, you will kill jobs. The rich dump their money back into the company or it will fail. The rich make the majority of their money through capital.
So you don't have an actual argument, tell me how I am wrong. I'm waiting...
They have not been taxed to death yet, Obama has not had that implemented that yet. This chart does not take into consideration the ups and downs of an economy. Right now alot of businesses are spending to replace old equipment. There are also alot of government regulations, plus they have to worry about providing healthcare.
here you go.
And apparently people like you see the facts I give you and just ignore them. I told you the problem with the graph, but you just chose not to see it I guess. That graphs tells you what the income taxes are, so what are your facts that raising them that high will work? I don't know why I bother asking you will just dodge the question.
- Alvin ColmesLv 78 years ago
Extend them all or let them all lapse, we have the most progressive tax system on the planet already. Liberals are clueless. heheheSource(s): hehehe