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Thread: Tax breaks for the wealthy. Good or bad idea?

  1. #61
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    With any luck the Democracts won't be able to punish those who through hard work managed to build some wealth.
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  2. #62
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    Quote Originally Posted by nealrm View Post
    With any luck the Democracts won't be able to punish those who through hard work managed to build some wealth.
    I don't think they are looking to punish anyone. It's not raising taxes, it's just sending them back to normal.

  3. #63
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    There is no "Normal" tax rate. Historically they have been everything from 1 to 90 percent.

    This is a raise in taxes. The rate is going from the current rate to one that is higher. Calling it anything else is just political spin.
    Last edited by nealrm; 11-12-2010 at 09:44 PM.
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  4. #64
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    Quote Originally Posted by nealrm View Post
    There is no "Normal" tax rate. Historically they have been everything from 1 to 90 percent.

    This is a raise in taxes. The rate is going from the current rate to one that is higher. Calling it anything else is just political spin.
    OK fine. People may have to pay the same rate as before the temporary cuts. Technically that is higher than now, and tomorrow is later than today.

    So let's just give it to them. Let's give everyone a tax break. Everyone wants to cut spending as long as they don't have to give up anything.
    Where and when do we start?
    That's another $12 trillion dollars in the hole so that wealthy individuals...not companies...wealthy individuals can keep a tax cut that they full well knew 10 years ago was temporary and going to expire in 2011.

    If no one does anything, the tax break will run the course that was set by the Bush administration and expire at the time table they set. Why mess with it?
    Just let it run the course that was set.

    I already know how this plays out. The Reps fold their arms, stand in the corner and hold their breath until they get it, and then in the same week they'll deny unemployment extensions for people who are down on their luck and can't find work in the name of cutting spending.

    I will bet $100 (tax free) that's how it's going to play out. It's nothing new than the way it always is.

    That's getting political!
    Honestly, either way I could care less. I expect that my life will continue the same or better next year no matter who gets a tax break or who gets unemployment.

    I'll continue to pay my taxes without complaining just like I always do.
    Unless there is a tax break for Small businesses, or single guys without kids...I really don't care.
    Last edited by Harold Mansfield; 11-12-2010 at 10:27 PM.

  5. #65
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    i wish they knew some of the hardworking older folks who can hardly make it now on social security and what little they saved out of their working poor work lives..... were they lazy and should expect nothing for working in low to middle low paying jobs for decades? i know a few of these guys in real life ...its pathetic...some vetrans
    ann at greenoak www.greenoakantiques.com

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    Wow,cant believe that someone dug up this old thread, but boy is it relevant today and if I have to say so myself, I called it way back in November. Just as I expected, one side is refusing compromise in order to protect tax cuts to the wealthy and subsidies to corporations.

    Just a quick aside, for those that say this is an attack on success, no it isn't
    The egregious loop holes and tax dodges that Obama is looking to do away with don't affect people making 6 figures a year. That's doing OK, but it's not wealthy. He's talking about things like 15% on capitol gains income, while those same 6 figure people are paying 30-38%.

    It's been 10 years of these tax cuts and they have not served to stimulate the economy or create jobs. Actually the top companies in America have created over 2.3 million jobs...it's just the they created them in other countries. They've downsized 2.4 million jobs here in the U.S. And we keep giving them money for that.

    You can cut every social program, school and rob social security blind and funnel all of that money into tax cuts for the wealthy and it will will never stimulate the economy because tax breaks don't create jobs. An increase in demand for goods and services creates jobs.

    We are the job creators. And the more you take from us, the consumers, the less likely it is that any job growth will ever take place. So those tax cuts are basically just putting money in people's pockets just because they have more. Because every millionaire and billionaire in this country is not a job creator, so giving them all a breaks across the board using that logic is the biggest scam since guys told girls you can't get pregnant the first time.
    Last edited by Harold Mansfield; 07-29-2011 at 11:58 AM.

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