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The idea that the housing bubble was created by Dems is ridiculous. Fanny and Freddie's share of the real estate market went from 75% to 25% in 2003 when corrupt, crony Boooshie regulators allowed private firms to rate toxic at A+ and allow it to be bundled, insured and sold around the world duh. Barney was one of hundreds of Dem and Pub pols who told people not to worry in 2008 duh. Trying to tamp down a panic.
They did get into it late and did less than a quarter of it, as you can see from the bailout costs. The law you blame Clinton for was a Pub bill he just signed. It took corrupt Boooshie regulators to pervert it and cause the bubble.
No because I have plenty of articles supporting the point that Democrats were the ones who initiated the bubble. You can't force banks to give loans to unqualified borrowers and expect a decent outcome. Banks sell those loans because they know they are bad, so they toss them out into the market as bundled securities which investors expected to be solid.
I won't go as far as to say that GW nor the Republicans had nothing to do with it, but to say it was their fault entirely is ridiculous. The Republicans had no interest in getting more blacks into their own homes. Blacks vote Democrat. That would be like Democrats promoting the NRA.
What this video shows (and I have more just like it) is how Democrats fought tooth and nail to make sure F and F had no oversight by our government, and how Republicans knew well in advance how precarious these practices were. Yes, Republicans tried to stop it while Democrats promoted it.
2002: Bush's speech to the White House Conference on Increasing Minority Homeownership
We've got to work to knock down the barriers that have created a homeownership gap.
I set an ambitious goal. It's one that I believe we can achieve. It's a clear goal, that by the end of this decade we'll increase the number of minority homeowners by at least 5.5 million families (HE LATER INCREASED IT TO 7 MILLION BUBS) (Applause.) …
White House Philosophy Stoked Mortgage Bonfire
“We can put light where there’s darkness, and hope where there’s despondency in this country. And part of it is working together as a nation to encourage folks to own their own home.” — President Bush, Oct. 15, 2002
here are plenty of culprits, like lenders who peddled easy credit, consumers who took on mortgages they could not afford and Wall Street chieftains who loaded up on mortgage-backed securities without regard to the risk.
But the story of how we got here is partly one of Mr. Bush’s own making, according to a review of his tenure that included interviews with dozens of current and former administration officials.
From his earliest days in office, Mr. Bush paired his belief that Americans do best when they own their own home with his conviction that markets do best when let alone.
He pushed hard to expand homeownership, especially among minorities, an initiative that dovetailed with his ambition to expand the Republican tent — and with the business interests of some of his biggest donors. But his housing policies and hands-off approach to regulation encouraged lax lending standards.
http://www.nytimes.com/2008/12/21/business/21admin.html?pagewanted=all&_r=0
And you wonder why we're broke? Other countries aren't in debt because they don't spend so much on their military.We spend more than the rest of the world combined on defense.We made
Weve made lots of austerity cuts in the last 15 years. Hasn't made a dent in the debt. We need to cut military spending and corporate welfareBS...................It's wasteful spending..............hundreds of Billions of waste in the Waste book every year....................and your side we can't cut spending.........There's a reason behind all those projects. Look into them you realize GOP being petty hypocrites and only telling half the story. It's an election year coming up get ready.
Cuts? Where at? The government is getting bigger budgets every year. We need some big time cuts. Corporate welfare needs to go. BofA, Wells Fargo, GE, GM, and Amtrak, need to be cut off. Then cut 15% across the rest of the budget. Raise taxes on everyone for four years, then cut them back. Get rid of tax exemptions for PACs. We need to also rein in all non-profit political organizations.
Didn't say we didn't, did I.
And why we're brokeWe spend more than the rest of the world combined on defense.We made
Weve made lots of austerity cuts in the last 15 years. Hasn't made a dent in the debt. We need to cut military spending and corporate welfareBS...................It's wasteful spending..............hundreds of Billions of waste in the Waste book every year....................and your side we can't cut spending.........There's a reason behind all those projects. Look into them you realize GOP being petty hypocrites and only telling half the story. It's an election year coming up get ready.
Cuts? Where at? The government is getting bigger budgets every year. We need some big time cuts. Corporate welfare needs to go. BofA, Wells Fargo, GE, GM, and Amtrak, need to be cut off. Then cut 15% across the rest of the budget. Raise taxes on everyone for four years, then cut them back. Get rid of tax exemptions for PACs. We need to also rein in all non-profit political organizations.
Which is why we are more prepared for defense than all the other countries combined.
You progressives are so stupid you believe that lie.other than continuing to build his vision, exactly how have they tarnished his efforts.
Sam Walton's vision was to pay his employees so little that they qualified for public assistance while the company took tens of billions in taxpayer subsidies? Sure it was.....
You are reading a wiki you dummyBS. Read wiki - HUGE at charities, bringing democracy to 3rd world, fact checking here, raping my ass. You believe a gigantic pile of Pubcrappe.My, you know a lot of total bs...he's for raising his own taxes.^^ Perfect brainwashed chump of the greedy idiot rich GOP...funny how I'm not jealous of Dem rich, just the lying a-holes we're all cheated by. see sigCould that possibly be because the top 1% benefit from wise investments in America, creating new jobs, products and services while the poor do not invest at all? The rich are not rich because the poor are poor and the poor are not poor because the rich are rich. Your consistent jealousy - like that of all the loony lefties here, there and everywhere, has been duly noted ... again.
You mean like George Soros who funds all manner of loony left lunacy with money he made by raping small, economically defenseless countries?
Oh wait ... he's a Dem so it's all good.
Yeah, sure he is. Look who drank the kool-aid. If Soros was sincere he would throw in with Gates and Buffett and put his wealth - garnered by raping economically defenseless countries - to work helping Americans.
Soros is an ideologically driven fraud, just like you.
So people became rich... so what?4
If you put 12.4% of your lifetime earnings in the stock market and 12.4% of your lifetime earnings into Social Security and die tomorrow, at the age of 61 years, 363 days, which of your two retirement plans will give your family more money, the stock market or Social Security?
Unless you had all of your eggs in the market when Republicans/corporate America/BushCo crashed the economy in 2007/2008.
Then you'd still have much, much more than from Social Security.
Tell that to the tens of millions of Americans that lost some or all of their retirement income.
Yanno, for those with the stomach to stay the course, 2009-2015 was about the most profitable 6 years in history.
This is true. The wealthy never became wealthier.
Actually you idiot congress with Bush crashed the economy and that includes you saviour the man who wishes to fund terrorism barrack obamaDamn Bush and those republicans for not figuring out how to stop the housing industry from failing when all of those creative loans forced by Clinton came due.
and Damn Bush and those republicans for not trying to convince the democrats that the crash was coming.
Oh why couldnt they just listen to the dems like Barney Franks when he told them the industry was in good shape.
Oh come on. You know how it works by now!
Obama spent more money than all other Presidents combined, but that was Bush's fault.
Bush was President during the housing bubble that was created by Democrats, but that was Bush's fault too.
Slowest recovery in recent history because Bush screwed up the economy so badly.
We have lower unemployment thanks to Obama.
Obama pulls all troops out of Iraq, the left praises their great President.
Whoops! ISIS takes over Iraq because of no US troops. That's Bush's fault.
MORE RIGHT WING GARBAGE. Shocking
"We crashed the economy but we don't like the way you tried to fix it." - GOP.
Dubya was warned by the FBI of an "epidemic" of mortgage fraud in 2004. He gave them less resources.
FBI saw threat of loan crisis - Los Angeles Times
Shockingly, the FBI clearly makes the case for the need to combat mortgage fraud in 2005, the height of the housing crisis:
Financial Crimes Report to the Public 2005
FBI ? Financial Crimes Report 2005
The Bush Rubber Stamp Congress ignored the obvious and extremely detailed and well reported crime spree by the FBI.
THE BUSH ADMINISTRATION and GOP CONGRESS stripped the White Collar Crime divisions of money and manpower.
"Those selling the CDS's would not have been able to sell them if they had been required by regulators to maintain standard insurance reserves."
2004 Dubya allowed the leverage rules to go from 12-1 to 35-1 which flooded the market with cheap money!
The SEC Rule That Broke Wall Street
The SEC Rule That Broke Wall Street
BUSH REGULATORS ON WALL STREET IN 2004 WITH A CHAINSAW 'CUTTING' REGULATIONS
We certainly don't want there to be a fine print preventing people from owning their home, the President(DUBYA) said in a 2002 speech. We can change the print, and we've got to.
Dollar amount of subprime loans outstanding:
2007 $1.3 trillion
Dollar amount of subprime loans outstanding in 2003: $332 billion
Percentage increase from 2003: 292%
FACTS on Dubya's great recession | US Message Board - Political Discussion Forum
The economy under Reagan was far superior then the lack of one we have under Obama. That is just a fact. To bad you idiots are so selfish you don't want to heed the truthDefending Reaganist bs to the death. No min wage up, no investment in infrastructure jobs, training for 3-4 million tech jobs going begging or college costs...or ANYTHING ELSE. STUPID.This is true. The wealthy never became wealthier.
True. And thanks to Republicans the middle class was left behind.
Really? And just how did Republicans accomplish that?
Hey dummy I don't want to buy a gallon of milk for 16 dollars .Cuts? Where at? The government is getting bigger budgets every year. We need some big time cuts. Corporate welfare needs to go. BofA, Wells Fargo, GE, GM, and Amtrak, need to be cut off. Then cut 15% across the rest of the budget. Raise taxes on everyone for four years, then cut them back. Get rid of tax exemptions for PACs. We need to also rein in all non-profit political organizations.
The better way;
-Base Federal tax for corporations at 30% of revenue.
-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2015 rise in food, shelter, and transportation.
-Eliminate all business subsidies (deductions/write-offs/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.
-Companies with 500 employees or less, employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.
-Adjust Social Security and private/public retirement and pension payments using 1970-2015 price structure.
-Remove the FICA limit.
-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.
-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.
-Make inversion illegal.
Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2015 rise in food, shelter, and transportation.
Did you ever find the real CPI number for this period?
It is a wiki. God you progressives are stupidEver wonder how the products you see on our shelves get there? It all comes down to logistics, and it's how Walmart works. Every year, we move millions of products from manufacturers to Walmart distribution centers, and from distribution centers to the shelves in our stores.
Distribution Centers
Walmart’s 158 distribution centers are hubs of activity for our business. Our distribution operation is one of the largest in the world. Walmart logistics has a fleet of 6,500 tractors, 55,000 trailers and more than 7,000 drivers.
Walmart Logistics
LOL!
Read the door. LOL!
List of assets owned by Walmart
From Wikipedia, the free encyclopedia
Jump to: navigation, search
Walmart Stores, Inc. is the largest retailer in the world and one of the five largest corporations in the world by sales.
- Walmart Stores U.S. - 4,921 total units as of July 31, 2014[1] (This unit count includes locations in Puerto Rico)
- Walmart Discount Stores (498)
- Walmart Supercenters (3,348)
- Neighborhood Markets (381)
- Small Format Stores (63) - includes Supermercados Amigo, Super Ahorros, Walmart Express, Walmart on Campus and Walmart To Go stores
- Walmart.com
- Sam's Club (640)
- Logistics
- Walmart Transportation
- Distribution Centers/Transportation Offices (130)
- Walmart Realty
- Claims Management.
- Walmart Portrait Studios was rebranded as PictureMe! Portrait Studios in late 2006. The Portrait Studios are operated by CPI Corp, Inc. under an agreement with Walmart. Space is leased and they are independently owned and operated and only pay rent to Walmart and a license fee to use the Walmart brand. Also, most Doctors of Optometry are independent contractors and are not employees of Wal-Mart Stores, Inc. but instead pay rent to use space in Walmart and Sam's Club Vision Centers.
- The Walmart Money Center (Formerly Wal-Mart Financial Services Network) is a tradename for financial services provided in their stores, including the Walmart Money Card™, Money Transfers, Bill Payments, Money Orders, Check Cashing and Check Printing.
List of assets owned by Walmart - Wikipedia, the free encyclopedia
LOL!
A tax cut doesn't cost us anything you retard.Reagan needed a new source of revenue to replace the revenue lost as a result of his unaffordable income tax cuts. He wasn’t about to rescind any of his income-tax cuts, but he had another idea. What about raising the payroll tax, and then channeling the new revenue to the general fund, from where it could be spent for other purposes? An increase in Social Security taxes would be easier to enact than a hike in income tax rates, and it would leave his income tax cuts undisturbed. Reagan’s first step in implementing his strategy was to write to Congressional leaders. His first letter, dated May 21, 1981 included the following:
As you know, the Social Security System is teetering on the edge of bankruptcy…in the decades ahead its unfunded obligations could run well into the trillions. Unless we in government are willing to act, a sword of Damocles will soon hang over the welfare of millions of our citizens.
Reagan wrote a follow-up letter to Congressional leaders dated July 18, 1981, which included:
“The highest priority of my Administration is restoring the integrity of the Social Security System. Those 35 million Americans who depend on Social Security expect and are entitled to prompt bipartisan action to resolve the current financial problem.
Social Security was definitely not “teetering on the edge of bankruptcy” in 1981 as Reagan claimed in his letter to Congressional leaders. The 1983 National Commission on Social Security Reform, headed by Alan Greenspan, issued its “findings and recommendations” in January 1983. The Commission accurately foresaw major problems for Social Security when the baby boomers began to retire in about 2010. But that was nearly two decades down the road
Ronald Reagan and The Great Social Security Heist : FedSmith.com
Reagan needed a new source of revenue to replace the revenue lost as a result of his unaffordable income tax cuts. He wasn’t about to rescind any of his income-tax cuts, but he had another idea. What about raising the payroll tax, and then channeling the new revenue to the general fund, from where it could be spent for other purposes?
Sneaky! So he dropped the 1981 rates from
70%, 68%, 64%, 59%, 54%, 49%, 43%, 37%, 32%, 28%, 24%, 21%, 18%, 16%, 14% down to
50%, 49%, 44%, 39%, 33%, 29%, 25%, 22%, 19%, 16%, 14%, 12%.
And to replace the "lost revenue", he raised the Social Security tax from 5.4% in 1982 to 6.06% in 1988.
$2.7 TRILLION BUBS
AND DOUBLED THE SELF EMPLOYMENT TAX. HINT SS TAX REVENUES WENT UP 60%, lol
$2.7 TRILLION BUBS
from 5.4% in 1982 to 6.06% in 1988.
Good, you don't deny Reagan increased revenues by $2.7+ trillion which was used to hide the costs of tax cuts for the rich!
Tax rates as a percent of taxable earnings
1980 8.100%
1988-89 15.020%
FICA & SECA Tax Rates
Good, you don't deny Reagan increased revenues by $2.7+ trillion
Over what time frame? As compared to what?
which was used to hide the costs of tax cuts for the rich!
Tax receipts were $599 billion in 1981, $991 billion in 1989.
What was the cost of the tax cuts for the rich?
2014 - $36.5M
Federal taxes were 4%.
Taxable income of $36.5 million would not give you a 4% tax rate.
You're lying.
David Cay Johnston: The Fortunate 400
Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each
David Cay Johnston: The Fortunate 400 - The National Memo
Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each
What were their loss carryovers from 2008?
DOESN'T FUKKNN MATTER. YOU CALLED SOMEONE A LIAR. I proved you are full of it
IF the GOP was on board with the Buffett rule, ALL would've had a min 30% fed tax rate!!!
YOU CALLED SOMEONE A LIAR.
Yeah, onepercenter lies about his income and his trust and his taxes.
IF the GOP was on board with the Buffett rule, ALL would've had a min 30% fed tax rate!!!
Not if their carryover losses made their net income zero for the year.
Norway has a much smaller populationAnd you wonder why we're broke? Other countries aren't in debt because they don't spend so much on their military.We spend more than the rest of the world combined on defense.We made
Weve made lots of austerity cuts in the last 15 years. Hasn't made a dent in the debt. We need to cut military spending and corporate welfareBS...................It's wasteful spending..............hundreds of Billions of waste in the Waste book every year....................and your side we can't cut spending.........
Cuts? Where at? The government is getting bigger budgets every year. We need some big time cuts. Corporate welfare needs to go. BofA, Wells Fargo, GE, GM, and Amtrak, need to be cut off. Then cut 15% across the rest of the budget. Raise taxes on everyone for four years, then cut them back. Get rid of tax exemptions for PACs. We need to also rein in all non-profit political organizations.
Didn't say we didn't, did I.
I heard the other day Norway has more money saved than their economy produces in a year. They saved their oil money from when gas was high because they knew it wouldn't last forever. So now they are using that money to help people. You would have given all the money to the rich and you would have never saved that money because your government doesn't do that.
And you wonder why we're broke? Other countries aren't in debt because they don't spend so much on their military.We spend more than the rest of the world combined on defense.We made
Weve made lots of austerity cuts in the last 15 years. Hasn't made a dent in the debt. We need to cut military spending and corporate welfareBS...................It's wasteful spending..............hundreds of Billions of waste in the Waste book every year....................and your side we can't cut spending.........
Cuts? Where at? The government is getting bigger budgets every year. We need some big time cuts. Corporate welfare needs to go. BofA, Wells Fargo, GE, GM, and Amtrak, need to be cut off. Then cut 15% across the rest of the budget. Raise taxes on everyone for four years, then cut them back. Get rid of tax exemptions for PACs. We need to also rein in all non-profit political organizations.
Didn't say we didn't, did I.
I heard the other day Norway has more money saved than their economy produces in a year. They saved their oil money from when gas was high because they knew it wouldn't last forever. So now they are using that money to help people. You would have given all the money to the rich and you would have never saved that money because your government doesn't do that.
Norway has a much smaller populationAnd you wonder why we're broke? Other countries aren't in debt because they don't spend so much on their military.We spend more than the rest of the world combined on defense.We made
Weve made lots of austerity cuts in the last 15 years. Hasn't made a dent in the debt. We need to cut military spending and corporate welfare
Cuts? Where at? The government is getting bigger budgets every year. We need some big time cuts. Corporate welfare needs to go. BofA, Wells Fargo, GE, GM, and Amtrak, need to be cut off. Then cut 15% across the rest of the budget. Raise taxes on everyone for four years, then cut them back. Get rid of tax exemptions for PACs. We need to also rein in all non-profit political organizations.
Didn't say we didn't, did I.
I heard the other day Norway has more money saved than their economy produces in a year. They saved their oil money from when gas was high because they knew it wouldn't last forever. So now they are using that money to help people. You would have given all the money to the rich and you would have never saved that money because your government doesn't do that.
Sent from my SM-G386T1 using Tapatalk
And you wonder why we're broke? Other countries aren't in debt because they don't spend so much on their military.We spend more than the rest of the world combined on defense.We made
Weve made lots of austerity cuts in the last 15 years. Hasn't made a dent in the debt. We need to cut military spending and corporate welfare
Cuts? Where at? The government is getting bigger budgets every year. We need some big time cuts. Corporate welfare needs to go. BofA, Wells Fargo, GE, GM, and Amtrak, need to be cut off. Then cut 15% across the rest of the budget. Raise taxes on everyone for four years, then cut them back. Get rid of tax exemptions for PACs. We need to also rein in all non-profit political organizations.
Didn't say we didn't, did I.
I heard the other day Norway has more money saved than their economy produces in a year. They saved their oil money from when gas was high because they knew it wouldn't last forever. So now they are using that money to help people. You would have given all the money to the rich and you would have never saved that money because your government doesn't do that.
Per capita, Japan, with no defense is more in debt than America. So are four other countries, including Greece. Are far as Norway, they carry a heavy debt also, I think you heard wrong. Tall tales is what you listened to. Reality what a concept.
$2.7 TRILLION BUBS
AND DOUBLED THE SELF EMPLOYMENT TAX. HINT SS TAX REVENUES WENT UP 60%, lol
$2.7 TRILLION BUBS
from 5.4% in 1982 to 6.06% in 1988.
Good, you don't deny Reagan increased revenues by $2.7+ trillion which was used to hide the costs of tax cuts for the rich!
Tax rates as a percent of taxable earnings
1980 8.100%
1988-89 15.020%
FICA & SECA Tax Rates
Good, you don't deny Reagan increased revenues by $2.7+ trillion
Over what time frame? As compared to what?
which was used to hide the costs of tax cuts for the rich!
Tax receipts were $599 billion in 1981, $991 billion in 1989.
What was the cost of the tax cuts for the rich?
David Cay Johnston: The Fortunate 400
Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each
David Cay Johnston: The Fortunate 400 - The National Memo
Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each
What were their loss carryovers from 2008?
DOESN'T FUKKNN MATTER. YOU CALLED SOMEONE A LIAR. I proved you are full of it
IF the GOP was on board with the Buffett rule, ALL would've had a min 30% fed tax rate!!!
YOU CALLED SOMEONE A LIAR.
Yeah, onepercenter lies about his income and his trust and his taxes.
IF the GOP was on board with the Buffett rule, ALL would've had a min 30% fed tax rate!!!
Not if their carryover losses made their net income zero for the year.
Weird how YOU are NEVER honest? I'm shocked.
Ronnie increased SS taxes over the next 32 years to the tune of excess payments to the trust funds of $2.7+ trillion, to hide the costs of his tax cuts for the rich. Gov't spent it!
Yep, MOST of the increased revenues were inflation. Next was increasing SS taxes, next was new employees. Over Ronnie's term, taxes were less than what WOULD'VE came in IF he hadn't gutted taxes for the rich!
Reagan Chief Economist Feldstein: "It's Not That You Get More Revenue By Lowering Tax Rates, It Is That You Don't Lose As Much."
Feldstein In 1986: "Hyperbole" That Reagan Tax Cut "Would Actually Increase Tax Revenue."
Conservative Economist Holtz-Eakin: "No Serious Research Evidence" Suggests Tax Cuts Pay For Themselves."
Real revenues under Reagan fell for a number of years and lagged behind GDP. There was no relative increase at all.
However, Reagan raised taxes a number of times, on the middle class/poor which offset the damage to revenues of his tax cuts for the rich!
Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves
Bush-Appointed Federal Reserve Chair Bernanke: "I Don't Think That As A General Rule Tax Cuts Pay For Themselves."
Bush Treasury Secretary Paulson: "As A General Rule, I Don't Believe That Tax Cuts Pay For Themselves."
- If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income, such as wages, up to an annual limit of $3,000, or $1,500 if you are married filing separately.
- If your total net capital loss is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you incurred it in that next year.
MILLIONAIRES? lol
Ten Important Facts About Capital Gains and Losses
Ronnie increased SS taxes over the next 32 years
I know, from 5.4% in 1982 to 6.06% in 1988. Awful!
to the tune of excess payments to the trust funds of $2.7+ trillion, to hide the costs of his tax cuts for the rich. Gov't spent it!
Wait, are you claiming that government took the Social Security money, bought Treasury bonds with it and then spent the money? You can't be serious!
Over Ronnie's term, taxes were less than what WOULD'VE came in IF he hadn't gutted taxes for the rich!
How much less? How do you know? Show all your calculations.
"It's Not That You Get More Revenue By Lowering Tax Rates, It Is That You Don't Lose As Much."
So you can cut taxes by $100 billion and only lose $60 billion in revenue?
Sounds like a win-win.
If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income
But we're not talking about "other income", are we?
If your total net capital loss is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you incurred it in that next year.
Weird, it's almost like they're saying you could lose $300 million in 2008 and carry that loss over into 2009 to eliminate the tax liability on $200 million in 2009 income.
$2.7 TRILLION BUBS
AND DOUBLED THE SELF EMPLOYMENT TAX. HINT SS TAX REVENUES WENT UP 60%, lol
$2.7 TRILLION BUBS
from 5.4% in 1982 to 6.06% in 1988.
Good, you don't deny Reagan increased revenues by $2.7+ trillion which was used to hide the costs of tax cuts for the rich!
Tax rates as a percent of taxable earnings
1980 8.100%
1988-89 15.020%
FICA & SECA Tax Rates
Good, you don't deny Reagan increased revenues by $2.7+ trillion
Over what time frame? As compared to what?
which was used to hide the costs of tax cuts for the rich!
Tax receipts were $599 billion in 1981, $991 billion in 1989.
What was the cost of the tax cuts for the rich?
David Cay Johnston: The Fortunate 400
Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each
David Cay Johnston: The Fortunate 400 - The National Memo
Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each
What were their loss carryovers from 2008?
DOESN'T FUKKNN MATTER. YOU CALLED SOMEONE A LIAR. I proved you are full of it
IF the GOP was on board with the Buffett rule, ALL would've had a min 30% fed tax rate!!!
YOU CALLED SOMEONE A LIAR.
Yeah, onepercenter lies about his income and his trust and his taxes.
IF the GOP was on board with the Buffett rule, ALL would've had a min 30% fed tax rate!!!
Not if their carryover losses made their net income zero for the year.
Weird how YOU are NEVER honest? I'm shocked.
Ronnie increased SS taxes over the next 32 years to the tune of excess payments to the trust funds of $2.7+ trillion, to hide the costs of his tax cuts for the rich. Gov't spent it!
Yep, MOST of the increased revenues were inflation. Next was increasing SS taxes, next was new employees. Over Ronnie's term, taxes were less than what WOULD'VE came in IF he hadn't gutted taxes for the rich!
Reagan Chief Economist Feldstein: "It's Not That You Get More Revenue By Lowering Tax Rates, It Is That You Don't Lose As Much."
Feldstein In 1986: "Hyperbole" That Reagan Tax Cut "Would Actually Increase Tax Revenue."
Conservative Economist Holtz-Eakin: "No Serious Research Evidence" Suggests Tax Cuts Pay For Themselves."
Real revenues under Reagan fell for a number of years and lagged behind GDP. There was no relative increase at all.
However, Reagan raised taxes a number of times, on the middle class/poor which offset the damage to revenues of his tax cuts for the rich!
Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves
Bush-Appointed Federal Reserve Chair Bernanke: "I Don't Think That As A General Rule Tax Cuts Pay For Themselves."
Bush Treasury Secretary Paulson: "As A General Rule, I Don't Believe That Tax Cuts Pay For Themselves."
- If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income, such as wages, up to an annual limit of $3,000, or $1,500 if you are married filing separately.
- If your total net capital loss is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you incurred it in that next year.
MILLIONAIRES? lol
Ten Important Facts About Capital Gains and Losses
Ronnie increased SS taxes over the next 32 years
I know, from 5.4% in 1982 to 6.06% in 1988. Awful!
to the tune of excess payments to the trust funds of $2.7+ trillion, to hide the costs of his tax cuts for the rich. Gov't spent it!
Wait, are you claiming that government took the Social Security money, bought Treasury bonds with it and then spent the money? You can't be serious!
Over Ronnie's term, taxes were less than what WOULD'VE came in IF he hadn't gutted taxes for the rich!
How much less? How do you know? Show all your calculations.
"It's Not That You Get More Revenue By Lowering Tax Rates, It Is That You Don't Lose As Much."
So you can cut taxes by $100 billion and only lose $60 billion in revenue?
Sounds like a win-win.
If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income
But we're not talking about "other income", are we?
If your total net capital loss is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you incurred it in that next year.
Weird, it's almost like they're saying you could lose $300 million in 2008 and carry that loss over into 2009 to eliminate the tax liability on $200 million in 2009 income.
