mister TWENTY TRILLION DOLLAR DEBT... "barack hussein obama"

[rightwinger]

Republicans propose cutting the tax rate on the wealthy in half

What is so different in proposing we double it? To be fair, I would only double it until our $20 Trillion debt is paid off

Hey dumba$$, once the tax is on the books it never goes away. That is the behavior of the federal government.
They Are inherently irresponsible, Because the federal government is run by progressives.

Hey Dumbass

The wealthy used to pay 70% tax rate, now they pay 39%

Seems like the tax burden "went away"

An income tax being unconstitutional...
Why should they pay any more than anyone else, the bottom 40% really pay nothing. Luxury tax

Income tax is in the Constitution

The bottom 40% have little to contribute. Why don't you raise their salaries and then they can pay more in taxes? Sounds fair

No it was put there in the socialist Teens, an income tax is just really a punishment for success.

A luxury tax makes more sense

It is in the Constitution and was affirmed by the courts....your libertarian fantasies not withstanding

 

[bedowin62]

hey DUMBASS; if you take $10 billion from the richest the Left will spend 12 billion and ask for more

 

[Contumacious]

$20 trillion man: National debt nearly doubles during Obama presidency

By Dave Boyer - The Washington Times - Sunday, November 1, 2015

When President Obama signs into law the new two-year budget deal Monday, his action will bring into sharper focus a part of his legacy that he doesn’t like to talk about: He is the $20 trillion man.

Mr. Obama’s spending agreement with Congress will suspend the nation’s debt limit and allow the Treasury to borrow another $1.5 trillion or so by the end of his presidency in 2017. Added to the current total national debt of more than $18.15 trillion, the red ink will likely be crowding the $20 trillion mark right around the time Mr. Obama leaves the White House.


When Mr. Obama took over in January 2009, the total national debt stood at $10.6 trillion. That means the debt will have very nearly doubled during his eight years in office, and there is much more debt ahead with the abandonment of “sequestration” spending caps enacted in 2011.

Obama presidency to end with $20 trillion national debt

Every president since FDR has helped increase the national debt. This has been a BIPARTISAN effort.

The DEMOPUBLICANS handy work.


.

 

[Rustic]

Hey dumba$$, once the tax is on the books it never goes away. That is the behavior of the federal government.
They Are inherently irresponsible, Because the federal government is run by progressives.

Hey Dumbass

The wealthy used to pay 70% tax rate, now they pay 39%

Seems like the tax burden "went away"

An income tax being unconstitutional...
Why should they pay any more than anyone else, the bottom 40% really pay nothing. Luxury tax

Income tax is in the Constitution

The bottom 40% have little to contribute. Why don't you raise their salaries and then they can pay more in taxes? Sounds fair

No it was put there in the socialist Teens, an income tax is just really a punishment for success.

A luxury tax makes more sense

It is in the Constitution and was affirmed by the courts....your libertarian fantasies not withstanding

Yeah by socialists it was affirmed, Woodrow Wilson was one of the nastiest dirt bag POS presidents we've ever had.

 

[bedowin62]

We could tax the top 5% at 100% and it would not generate enough money to reduce the debt. You live in a fantasy world of rich-hate.

Republicans propose cutting the tax rate on the wealthy in half

What is so different in proposing we double it? To be fair, I would only double it until our $20 Trillion debt is paid off

Hey dumba$$, once the tax is on the books it never goes away. That is the behavior of the federal government.
They Are inherently irresponsible, Because the federal government is run by progressives.

Hey Dumbass

The wealthy used to pay 70% tax rate, now they pay 39%

Seems like the tax burden "went away"

An income tax being unconstitutional...
Why should they pay any more than anyone else, the bottom 40% really pay nothing. Luxury tax

Sure , in a world where the only tax is fed income tax . But we don't live in that world . There are taxes and fees everywhere .

I commute to work. Fed gas tax is 18 cents a gallon (never mind the state tax more than double that) . So about .50 a gallon to taxes . Same as the millionaire commuting next to me .

The real question is what are the actual tax rates people are paying .

i love this idiotic left-wing meme. the wealthiest pay all those other taxes too.
did you think they dont live in mansions and pay huge property taxes?
do they not drive fine cars?
have lots of toys? eat expensive food? but things that have sales tax on them?

 

[Redfish]

How about we raise the tax rate of anyone making over $1 million a year to pre-Reagan tax rates?

We dedicate the extra revenue to debt relief
But only untilo our debt is paid off. Then they can have the present rates back

when those higher rates were in effect we also had a lot of deductions and exemptions that the rich could take advantage of, so their actual tax rate was lower than it is today. This is much more complicated than just raising taxes on the evil rich.

But I asked you how much additional revenue would be generated, Find that number then divide it into 20 trillion and you will understand that taxing the rich will not eliminate the debt. The only fix is to cut federal spending to a number lower than revenue and then apply the surplus to the debt. Does anyone really think that will ever happen?

Bullshit

Todays effective tax rate for the rich is at historic lows

How much additional revenue would it generate? How about $1 trillion a year?

you are wrong, but lets assume that you are correct. Lets assume that the extra trillion would all be used to pay down the debt. If the debt was interest free it would take 20 years, but its not interest free.

you are also assuming that we would have a balanced budget for 20+ years and that congress and the executive branch would not create any new debt.

Like I said earlier, you are living in a fantasy land.

Took us 30 years to get to $20 trillion in debt.....we are not going to pay it back overnight

Actually, at this point, the debt is virtually impossible to pay back. You're forgetting about the interest. There's just not enough money to be had to pay it off. The cuts it would take to do so are so draconian that to simply propose them would send the EBT CROWD into full blown panic and anarchy. The FREEBIES would have to DISAPPEAR.

exactly correct. the solution may be to simply declare bankruptcy and start over. The chinese and other bond holders would be pissed, but so what?

 

[Care4all]

I think we need to double taxes on the wealthy so we don't see a $20 trillion debt

We could tax the top 5% at 100% and it would not generate enough money to reduce the debt. You live in a fantasy world of rich-hate.

Republicans propose cutting the tax rate on the wealthy in half

What is so different in proposing we double it? To be fair, I would only double it until our $20 Trillion debt is paid off

Hey dumba$$, once the tax is on the books it never goes away. That is the behavior of the federal government.
They Are inherently irresponsible, Because the federal government is run by progressives.

Hey Dumbass

The wealthy used to pay 70% tax rate, now they pay 39%

Seems like the tax burden "went away"

An income tax being unconstitutional...
Why should they pay any more than anyone else, the bottom 40% really pay nothing. Luxury tax

they are not paying any more per dollar earned than anyone else for the same dollar earned in the same tax bracket for said dollar...

Tongue twister, I know!

But if someone makes $50k in taxable income, and the rich guy makes $1,000,000 in taxable income...his first 50k in taxable income is taxed at the same rates as the guy who only made 50k....

He does NOT pay MORE per dollar for his $50k taxable income than the guy who just made in total, the $50k in taxable income...THEY ARE TAXED AT THE PRECISE SAME TAX RATE....for the $50k.

There is nothing unfair about that....

 

[Rustic]

The federal government could take every penny from the top 10% and it still would not even put a dent in our debt, then what would they do? If there's no one else to tax then what would they do? If there's no one else to tax.

The government has done run out of other peoples money, there's nothing they can do about it now it's baked into the cake. Such as we are past the point of no return. Do not pass go do not collect $200.Game set match game over

 

[Timmy]

What's tax reality? Take the presidential candidates when they report personal taxes . Everyone is always surprised by their low tax rates. And they KNOW they are running years ahead and will manipulate the taxes to look even worse than normal .

I think the only rich people paying those high rates are lottery winners .

 

[SwimExpert]

That's the first thing in this thread that actually is true. I will not defend republicans when it comes to spending.

However, it is under the obama presidency, that the national debt has DOUBLED, what it took EVERY OTHER PRESIDENT IN HISTORY to accumulate.

And under Reagan the debt tripled. Were you creaming your panties back then?

See, the real problem here is the setting of precedents. Reagan said that deficits don't matter. Cheney later looked back and said that Reagan proved that deficits don't matter. Cheney's own words were that Reagan set the precedent. And he was right. A new "normal" was set. Worst of all, constantly resetting the "normal" upwards has become normal itself.

The kenyan's

See, right there you just make yourself out to be a hack. Drop the birther nonsense.

legacy so far will be the president that spent more than ALL THE OTHERS PUT TOGETHER. Might take awhile to top THAT, because basically it's IMPOSSIBLE.

Well, Obama did warn us that he wanted to emulate Reagan. But don't worry. In the next 8 years the debt will hit $40 trillion. And probably under a Republican President. Obama will look like small potatoes by that point. I'm sure you'll have all your excuses lined up as to why that debt was necessary. Meanwhile, the true conservatives will be sitting back and lamenting the fact that we're apparently the only grownups in the room, and we're far too few to overcome the stupidity of the masses.

 

[Timmy]

Just cut pentagon spending 20% . Problem solved !

 

[SwimExpert]

No it was put there in the socialist Teens, an income tax is just really a punishment for success.

A luxury tax makes more sense

Coolidge had an income tax on the top 2% of earners, in addition to robust luxury and estate taxes, when he retired a quarter of the debt. I'd like to see us go back toward something like that.

 

[Redfish]

We could tax the top 5% at 100% and it would not generate enough money to reduce the debt. You live in a fantasy world of rich-hate.

Republicans propose cutting the tax rate on the wealthy in half

What is so different in proposing we double it? To be fair, I would only double it until our $20 Trillion debt is paid off

Hey dumba$$, once the tax is on the books it never goes away. That is the behavior of the federal government.
They Are inherently irresponsible, Because the federal government is run by progressives.

Hey Dumbass

The wealthy used to pay 70% tax rate, now they pay 39%

Seems like the tax burden "went away"

An income tax being unconstitutional...
Why should they pay any more than anyone else, the bottom 40% really pay nothing. Luxury tax

they are not paying any more per dollar earned than anyone else for the same dollar earned in the same tax bracket for said dollar...

Tongue twister, I know!

But if someone makes $50k in taxable income, and the rich guy makes $1,000,000 in taxable income...his first 50k in taxable income is taxed at the same rates as the guy who only made 50k....

He does NOT pay MORE per dollar for his $50k taxable income than the guy who just made in total, the $50k in taxable income...THEY ARE TAXED AT THE PRECISE SAME TAX RATE....for the $50k.

There is nothing unfair about that....

right, if everyone made 50K you would be correct. But not everyone makes 50K and many making 50K pay zero federal income tax after deductions and exemptions, but the rich guy will pay full taxes on his first 50K, and thats fine and proper.

The point is that by taking more from the rich you will stiffle investment and drive money out of this country. Rich people are rich because they know how to manage and keep their money.

 

[Redfish]

Just cut pentagon spending 20% . Problem solved !

Not even close. how about cutting all government spending by 30% ? all agencies, all budgets, including SS, medicare, welfare, food stamps, DOD, congressional salaries, every line in the budget.

 

[SwimExpert]

But not everyone makes 50K and many making 50K pay zero federal income tax after deductions and exemptions

 

[rightwinger]

All the Republicans are supporting some sort of flat tax of 10 to 15%
All of these plans will result in a loss of $1- 1.5 trillion in lost revenue

What is so strange about returning our tax rate to pre-Reagan levels and using the resulting $1 trillion a year to pay down debt?

 

[Siete]

the national debt is the total of past deficits left by every president, not just Obama. ,,, pretty simple to explain.

RW's refuse to give credit to Obama for anything unless it's something hes not responsible for.

 

[Care4all]

Republicans propose cutting the tax rate on the wealthy in half

What is so different in proposing we double it? To be fair, I would only double it until our $20 Trillion debt is paid off

Hey dumba$$, once the tax is on the books it never goes away. That is the behavior of the federal government.
They Are inherently irresponsible, Because the federal government is run by progressives.

Hey Dumbass

The wealthy used to pay 70% tax rate, now they pay 39%

Seems like the tax burden "went away"

An income tax being unconstitutional...
Why should they pay any more than anyone else, the bottom 40% really pay nothing. Luxury tax

they are not paying any more per dollar earned than anyone else for the same dollar earned in the same tax bracket for said dollar...

Tongue twister, I know!

But if someone makes $50k in taxable income, and the rich guy makes $1,000,000 in taxable income...his first 50k in taxable income is taxed at the same rates as the guy who only made 50k....

He does NOT pay MORE per dollar for his $50k taxable income than the guy who just made in total, the $50k in taxable income...THEY ARE TAXED AT THE PRECISE SAME TAX RATE....for the $50k.

There is nothing unfair about that....

right, if everyone made 50K you would be correct. But not everyone makes 50K and many making 50K pay zero federal income tax after deductions and exemptions, but the rich guy will pay full taxes on his first 50K, and thats fine and proper.

The point is that by taking more from the rich you will stiffle investment and drive money out of this country. Rich people are rich because they know how to manage and keep their money.

Putting MORE tax burden on those who net less and less tax burden on those who have more, is immoral.

 

[SwimExpert]

All the Republicans are supporting some sort of flat tax of 10 to 15%
All of these plans will result in a loss of $1- 1.5 trillion in lost revenue

What is so strange about returning our tax rate to pre-Reagan levels and using the resulting $1 trillion a year to pay down debt?

Actually, Carson is going to make up the difference by adding up to 45% tax on corporate profits. The man is a fucking idiot.

 

[Zoom-boing]

10 pages of 'more tax' and 'ludicrous debt' and only the last few posts even bother addressing the obvious ... cut spending. Across the board, everything gets cut. Proceed in small increments with the goal of a what, 30%?, within xx timeframe. Bring back paygo. Oh wait, didn't the Ds say this was going to happen a few years back? Or was it the Rs? Can't tell the difference. Increasing taxes is a non-starter if you don't also substantially reduce spending. The more bucks the DC crowd gets, the more they spend, everyone knows this. Cut the damn spending, when a certain level has been reached, then increase taxes along with the continuing cutting of spending.