Going off the Cliff?

[MadMan1978]

http://www.addictinginfo.org/2012/07...off-the-cliff/

We’ve heard a lot lately about “going off the cliff” in reference to the expiration of the Bush tax cuts at midnight on December 31 and how the Democrats have finally found their spine and are standing firm.

[AUTaxMan]

Letting the Bush tax cuts expire for the top 2% will only raise about 1 trillion over 10 years, and that is with static scoring. It will certainly be less than that if you account for the fact that people will change their behavior to bring in less ordinary income subject to the rates as a result of the tax increase. 100 billion per year can't even make a dent in the budget. That's less that 3% of the budget for 2012, and will be even less per year over the next ten years.

The raising taxes on the rich argument is manufactured to gin up class warfare and nothing more. It is not a practical solution to our financial crisis.

[MadMan1978]

Maybe so but it is a start

I read a recent article on eliminating the corporate Income Tax and changing how Capital gains is taxed. Actually a smart plan that should be reviewed.

[AUTaxMan]

Maybe so but it is a start

I read a recent article on eliminating the corporate Income Tax and changing how Capital gains is taxed. Actually a smart plan that should be reviewed.

It may be a start, but it is not the panacea that our President claims that it is. His claims are disingenuous, and the only reason for him is to get the lower class voters to envy the rich for his own political gain. The more he can take from the rich and give to the poor, the more votes he can buy, and the more power he can have.

[MadMan1978]

It may be a start, but it is not the panacea that our President claims that it is. His claims are disingenuous, and the only reason for him is to get the lower class voters to envy the rich for his own political gain. The more he can take from the rich and give to the poor, the more votes he can buy, and the more power he can have.

STOP RALLY it is getting old! EVER PRESIDENT HAS DONE THE SAME THING! PUSH the Party's agenda! IOt was OK for Bush 1 and 2? and Reagan ?
and for that fact Clinton?

[AUTaxMan]

STOP RALLY it is getting old! EVER PRESIDENT HAS DONE THE SAME THING! PUSH the Party's agenda! IOt was OK for Bush 1 and 2? and Reagan ?
and for that fact Clinton?

Every president has manipulated the lower class to convince them that the rich people are the problem with america?

[Wickabee]

Letting the Bush tax cuts expire for the top 2% will only raise about 1 trillion over 10 years, and that is with static scoring. It will certainly be less than that if you account for the fact that people will change their behavior to bring in less ordinary income subject to the rates as a result of the tax increase. 100 billion per year can't even make a dent in the budget. That's less that 3% of the budget for 2012, and will be even less per year over the next ten years.

The raising taxes on the rich argument is manufactured to gin up class warfare and nothing more. It is not a practical solution to our financial crisis.

Would probably be more if those wealthy people actually paid taxes instead of hiding their money off-shore. People like Romney want the middle class to pay for everything.

[AUTaxMan]

Would probably be more if those wealthy people actually paid taxes instead of hiding their money off-shore. People like Romney want the middle class to pay for everything.

Is that what they do? Do they avoid paying income taxes by having offshore bank accounts? Are all wealthy people tax cheats? They all want the middle class to pay for everything? It must be one grand conspiracy. Add a few more specifics to your argument instead of using straw men.

[Wickabee]

Is that what they do? Do they avoid paying income taxes by having offshore bank accounts? Are all wealthy people tax cheats? They all want the middle class to pay for everything? It must be one grand conspiracy. Add a few more specifics to your argument instead of using straw men.

What conspiract? It's no conspiracy for a bunch of rich people to tax dodge. It's damn near law that rich people won't pay their fair share of taxes. They have the money to find the loopholes, the middle class don't. You want class warfare, stop calling for the middle class to pay for all roads, police, teachers, firefighters, etc, etc.

Do not allow keeping money offshore.

[AUTaxMan]

What conspiract? It's no conspiracy for a bunch of rich people to tax dodge. It's damn near law that rich people won't pay their fair share of taxes. They have the money to find the loopholes, the middle class don't. You want class warfare, stop calling for the middle class to pay for all roads, police, teachers, firefighters, etc, etc.

Do not allow keeping money offshore.

What loopholes do they find? How, exactly, do they tax dodge? What is a fair share? You realize that police, firefighters, teachers are paid for with state tax revenue, not federal tax revenue, right? I respect you and think you're a pretty smart guy, and I'd love to have an informed discussion with you on tax policy, but if you want an honest discussion about this stuff, I request that you stop generalizing and start getting specific.