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07/31/2010 05:24 PM ID: 84913 Permalink   

Republicans Fight to Keep Tax Cuts for the Wealthy

 

The Republican party has promised to fight to retain tax cuts for the higher tax brackets. A number of tax cuts introduced during the Bush era are due to sunset but Democrats have indicated they only plan to extend cuts for the middle class.

Third-ranked Republican and House Republican Conference Chairman Mike Pence attacked the Obama administration for not extending all the tax cuts in a weekly address, saying that "the economic policies of this administration have failed".

"After 18 months of runaway spending, bailouts and takeovers, Washington Democrats are poised to allow the largest tax increase in American history to take effect... we can´t tax and spend and bail our way back to a growing economy," said Pence.

 
  Source: www.upi.com  
    WebReporter: ixuzus Show Calling Card      
  Recommendation:  
ASSESS this news: BLOCK this news. Reason:
   
  17 Comments
  
  Trickle Down  
 
Doesn´t work. Next!
 
  by: Kolman   07/31/2010 05:33 PM     
  The Definition Of Insanity  
 
is doing the same thing over and over and expecting different results.
 
  by: ichi     07/31/2010 06:51 PM     
  Its going to be OK  
 
Continue the policies of punishing prosperity. Eventually everyone will be stuck in the class they were born into and no one will be able to rise above their station. It´ll be just like a caste system. Awesome!!

It isn´t the policies of liberals that scare me. It is the unintended consequences of these policies and their liberals proponents who can´t see beyond the next election cycle that scare the heck out of me. The unmitigated Mccarthyistic tendency of liberals to proclaim the opposition to these policies "racists" and to continue class warfare in the name of equality is beyond the pale. All this while demagoging any who dare to take a stand. I really hope that the voting population of the US remembers this in November.
 
  by: tomblik     07/31/2010 11:19 PM     
  @Pence  
 
"we can´t tax and spend and bail our way back to a growing economy," said Pence."

If I was American I´d say: Oh yeah? just watch us.

You can´t just pretend that the economic recovery isn´t happening.
 
  by: jamesmc   08/01/2010 03:26 AM     
  B*ll Sh*t reporting at its best.  
 
They are fighting to keep tax cuts for EVERYONE, not just the wealthy. but fools will continue to let themselves be led blindly.

That´s not on Ixusus, its on the source.
 
  by: moxpearl   08/01/2010 07:04 PM     
  Yes Mox  
 
But it´s still the wealthy that benefit the most.
 
  by: jamesmc   08/02/2010 03:49 PM     
  @jamesmc  
 
Quote:You can´t just pretend that the economic recovery isn´t happening.

I´m having a hard time pretending it is getting better.

Quote:But it´s still the wealthy that benefit the most.

Really They are in the highest tax bracket pay the most taxes. So enlighten us and elaborate on how they benefit the most.
 
  by: hellblazer     08/02/2010 04:12 PM     
  @Kolman  
 
It does work for small businesses. Just not for corporate mega entities.
 
  by: Tetsuru Uzuki     08/02/2010 04:56 PM     
  @Kolman  
 
I got trickled on and it felt all warm and wet....isn´t that what it was supposed to do? I´m just waiting for "Sh!t flows downhill economics", that´s really going to raise a stink.
 
  by: valkyrie123     08/02/2010 05:09 PM     
  @hellblazer  
 
You´ve heard all the arguments before, I have a hard time believing that anything I saw will enlighten you but here goes.

Rich people wont suffer as much from cuts to social welfare, public education, health care (although I know this is privately funded in the states) and public transport - but they are likely to benefit much more than the less wealthy from cuts in tax, especially corporate, inheritance, property, capital gains etc.

You can say you´re cutting the tax on capital gains for *everyone* but the reality is that only those who have enough disposable income to own stocks will benefit - and the cuts to public schooling that pay for that tax cut is more likely to be felt by those who send their kids to a state school, more likely to be the poorer people.

Trickle down economics (a concept invented by milton friedman to justify Reagan and Thatcher´s tax cuts) is supposed to mean that if the rich can get richer then they´ll help the rest of society get wealthier too by paying higher wages etc, but it has already been stated here, just doesn´t work. They neglected to factor in greed.
 
  by: jamesmc   08/02/2010 06:21 PM     
  @jamesmc  
 
I know I have heard all the arguments before and so have you, that is why I can´t believe you are still trashing the tax cuts. No matter who benefits that most, all the legal work force benefits in some way. Some tax relief is better then no tax relief. You save me a grand that is really something, save the rich a grand it is almost meaningless, they pay their kids that much allowance.

Quote:Rich people wont suffer as much from cuts to social welfare, public education,

That is true because they do not collect welfare and can afford to send their children to a private school. Name one in our Government that doesn´t do the same. So doesn´t it stand to reason they would not be hit by this? Am I correct when assuming in your view the rich should pay even more then they do now simply because they succeeded in life? I am not rich by any sense of the word but I do not believe I am entitled to anyone´s money. I work and live within my means which BTW is becoming harder and harder in this rebounding economy. Yet I pay for the millions upon millions on welfare who simply do not want to work. They have learned to rape the system, act stupid and own nothing and they give you everything. So you will have to excuse me if I do not feel sorry for them. If the system was used the way it was suppose to be used,the cost wouldn´t be so high.

As far as public education goes, it has become a joke because teachers can´t teach with all the regulations and BS rules the government and states say they have to follow. Specially the No child left behind act. What a joke, kids passing grades and they can´t even read. All the money in the world isn´t going to fix that mess. So we may as well get some relief from paying for that.

Quote:You can say you´re cutting the tax on capital gains for *everyone* but the reality is that only those who have enough disposable income to own stocks will benefit

That would be common sense wouldn´t it? Not a fault in the system or cutting taxes. Lets be real, if you had more wealth certainly you would benefit more in the way of savings through tax cuts. But don´t forget that the rich in all their loop holes and glory still pay the majority of the taxes paid to this government (Rep or Dem) so they can mishandle the funds. Fact is the top 5 percent pay well over half the income taxes. No getting around that a big portion of the federal income tax burden is laid on a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 per­cent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare. We need tax cuts specially to the rich because in my 56 years of life experience I have NEVER been hired nor offered a job by a poor person.
If you want the rich to pay their fare share you should direct your energy to something that would benefit the middle and lower class directly. Direct it to getting rid of the millions of illegals who occupy jobs that our children could be doing and eliminate their negative impact on the welfare,health care, and school systems. Maybe the rich would be forced to pay higher wages if they knew they didn´t have some illegal to do the job for less. And please don´t give me that sad ass crap about how their doing jobs Americans won´t do because that is just BS! I see them everywhere in everything.
 
  by: hellblazer     08/02/2010 09:38 PM     
  before you bash republicans  
 
remember your lovely obama promised no tax cincreases and coming next year are some of the highest tax increases set since the great depression.

 
  by: onlycouchespullout   08/06/2010 12:53 AM     
  @onlycouchespullout  
 
To be fair to Obama, he said no tax increases for thsoe earning less than $250,000 I believe.
 
  by: vash_the_stampede     08/06/2010 03:34 AM     
  funny  
 
how even bernanke even wants to extend the bush tax cuts..

you CANNOT tax the people who spend the most money, THEY make the economy go around and YES it DOES trickle down...

every dollar they spend goes to regular people like me and you..

stop fooling yourselves.

how about a flat rate tax thats the same for everyone??

let me guess "IT DOESNT WORK APPROACH"

how about more failed trillion dollar "stimulus" slush funds that arent even close to having any of it spent for the next 10 years if not longer, but remember it was needed RIGHT AWAY!!, how about more bailouts for banks that are "too big to fail" more bailouts for stupid people who took out loans they couldnt afford, or how about less oversight on freddie and fannie, how about another "first time home buyer credit" that did nothing and now the housing market is falling apart all over again when it expired, or my fav a CASH FOR CLUNKER program that cost about 20,000 dollars per vehicle that artificially propped up the DEAD car market...

YUP that works!

 
  by: cray0la     08/06/2010 03:44 AM     
  BTW  
 
the welfare class has a RUDE awakening when the bush tax cuts expire, he made it so they had so many things to claim, so many credits, including the child tax credit were giving people absolute CRAZY amounts of money..

i know of people who did not work AT ALL or put anything into the economy, just suck from it like a leech and they got 5,000+ BACK, when i worked fulltime for the year and seen hardly anything back.

figure that one out.
 
  by: cray0la     08/06/2010 03:47 AM     
  @cray0la  
 
I never see you say anything that is smart. Yes, the stimulus failed when it came to saving big banks. What did the banks do with that money Bush grabbed from everyone? They gave each other more money.

"i know of people who did not work AT ALL or put anything into the economy, just suck from it like a leech and they got 5,000+ BACK, when i worked fulltime for the year and seen hardly anything back."

Reminds me of the illegals in this country. They work for far less money and they gain free health care and such for being illegal. They also love mooching from the system.

Every post you write is just the same old, smelly and molded crap over again.
 
  by: SunDown   08/09/2010 02:57 AM     
  LOL  
 
It isn´t the policies of conservatives that scare me. It is the unintended consequences of these policies and their right-wing proponents who can´t see beyond the next election cycle that scare the heck out of me.
 
  by: Lurker     08/09/2010 03:54 AM     
 
 
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