Surprise move on tax cuts by Obama

[firstdown]

Originally Posted by dmek25

i try to look at the big picture. sooner or later the shit will hit the fan with the record deficit we are incurring. lets stop all the crazy spending, and start to create jobs. what ever is good for the whole is what im about

We don't have a tax problem we have a spending problem. I read today this new bill is filled with 8 billion in pork projects to get the dems approval.

[FRPLG]

Originally Posted by Beemnseven

So let me get this straight -- the government says you get to keep more of the money you earn, and so do the rich, but that makes you unhappy?

I could certainly understand the outrage if the gov't said "we're taking more out of the paychecks of the poor and middle class, but people in the upper incomes -- their paychecks will be higher". That would be upsetting, no doubt. But everybody gets to keep more of what they earn.

Am I correct to think that the only way you'd be happy is that your paycheck stays the same but anybody with a bigger paycheck takes a hit?

Your happiness depends on someone else's unhappiness?

Exactly. This notion that "rich" people owe more money than others is beyond me. I hate the idea of a progressive tax in the first place and I hate the rampant anti-rich sentiment that flows throughout this country. It is the most unAmerican notion that exists in my opinion. Everyone who is able should pay their fair share. More importantly and more germane to this discussion we shouldn't be axing taxes without a requisite cut in spending. It is as irresponsible as raising taxes. In fact I'd prefer we ran the same rates for a few years, cut spending intelligently and started running a surplus to pay down some debt.

[dmek25]

Originally Posted by firstdown

We don't have a tax problem we have a spending problem. I read today this new bill is filled with 8 billion in pork projects to get the dems approval.

if you keep spending at this rate, and dont do anything( or cut) taxes, what happens?

[saden1]

Originally Posted by dmek25

if you keep spending at this rate, and dont do anything( or cut) taxes, what happens?

You don't have to cut anything since you can borrow more money! There's nothing wrong with doing what GW did. People keeping their money is always good thing.

[Beemnseven]

Originally Posted by FRPLG

Exactly. This notion that "rich" people owe more money than others is beyond me. I hate the idea of a progressive tax in the first place and I hate the rampant anti-rich sentiment that flows throughout this country. It is the most unAmerican notion that exists in my opinion. Everyone who is able should pay their fair share. More importantly and more germane to this discussion we shouldn't be axing taxes without a requisite cut in spending. It is as irresponsible as raising taxes. In fact I'd prefer we ran the same rates for a few years, cut spending intelligently and started running a surplus to pay down some debt.

No doubt. Milton Friedman once said that a tax cut without a corrseponding cut in spending isn't really a tax cut. The government just prints the difference, leading to inflation, which hits us in the wallet just the same.

[Beemnseven]

Isn't funny how the left doesn't give a rats ass about the deficit when they pass the "stimulus" bill or health care, but suddenly when it comes to taxes, they get all huffy about it.

Of course, the Republicans are just as bad -- they only cry about the deficit if they're aren't the ones spending. When they have control, massive deficit spending is just fine.

[firstdown]

Originally Posted by dmek25

just another example of the Dem's caving in. this is all about the rich. doesn't change anything for me. pretty soon both parties will meet somewhere in the middle, and then we are screwed( more then we are now)

Well actually if they let the tax cuts expire it would have affect everyone. Even the people who don't pay taxes.

[firstdown]

I can't find the clip but Harry Reid said it was his duty to include pork into a bill. This was the budget bill not the tax bill that had all the pork projects. Like 8 billion worth.

[saden1]

Originally Posted by Beemnseven

Isn't funny how the left doesn't give a rats ass about the deficit when they pass the "stimulus" bill or health care, but suddenly when it comes to taxes, they get all huffy about it.

Of course, the Republicans are just as bad -- they only cry about the deficit if they're aren't the ones spending. When they have control, massive deficit spending is just fine.

Stimulus solved a specific problem (one time funds to give tax breaks and create jobs), this is a punt and we will be back to the same situation two years from now. I guess you can call this stimulus 2.0 except this one is far more costly in the long run.

[GMScud]

Originally Posted by firstdown

I can't find the clip but Harry Reid said it was his duty to include pork into a bill. This was the budget bill not the tax bill that had all the pork projects. Like 8 billion worth.

Reid: Earmarks are 'what we're supposed to do' - Washington Times

[budw38]

Originally Posted by Beemnseven

Isn't funny how the left doesn't give a rats ass about the deficit when they pass the "stimulus" bill or health care, but suddenly when it comes to taxes, they get all huffy about it.

Of course, the Republicans are just as bad -- they only cry about the deficit if they're aren't the ones spending. When they have control, massive deficit spending is just fine.

Well said , both of your posts are spot on ( IMO ) .

[budw38]

Originally Posted by firstdown

We don't have a tax problem we have a spending problem. I read today this new bill is filled with 8 billion in pork projects to get the dems approval.

I wish I had 8 billion to spend , I might send some " pork " your way ... so you could pull your brand new boat , with your brand new truck

[firstdown]

Originally Posted by budw38

I wish I had 8 billion to spend , I might send some " pork " your way ... so you could pull your brand new boat , with your brand new truck

Neither the boat nor the truck were new when I purchased them. If gas keeps going up I need some of that pork but I'll make my own. I don't spend money I don't have and then brag about it like Reid does.

[tryfuhl]

mmm megyn kelly

[mlmpetert]

Good summary of the Tax Act:

Congress Resolves Many Tax Issues During Lame Duck Session