April 18, 201115 yr http://www.huffingtonpost.com/2011/04/17/us-rich-income-taxes-drop-dramatically_n_850174.html
April 18, 201115 yr :confused: I will be the first to admit I do not understand tax stuff, percentages, and talks of "trillions" of dollars. Those things can be spun ever which direction to make things seem good or bad. It is all confusing and most do not get it. I simply go on feel, and I am not feeling the "stronger" economy. I read the posted link and I never got the sense that it was trying to convey a stronger economy. I may have missed the sarcasm in your post though. Based upon this year, it appears the President is not satisfied with what is in place: President Barack Obama said last week he wants to do away with tax breaks to lower the rates and to reduce government borrowing. Obama's proposal would result in $1 trillion in tax increases over the next 12 years. Neither proposal included many details, putting off hard choices about which tax breaks to eliminate.
April 18, 201115 yr Author Definite sarcasm, although I am much like you in my understanding. It just seems that we have been led to believe since the 80s that if we lower the top tax rate the economy will get better. Well, the top tax rate is super low and the economy is not doing better and jobs are not being created.
April 18, 201115 yr Author Why do we keep cutting revenue? http://www.huffingtonpost.com/2011/04/18/tax-cuts-rich_n_848933.html Edited April 18, 201115 yr by acemona
April 18, 201115 yr The richest folks already pay over half of the bill... Here is part of the problem.. Half the folks pay nothing.. http://finance.yahoo.com/news/45-of-households-owe-no-cnnm-1091487965.html?x=0&sec=topStories&pos=5&asset=&ccode
April 18, 201115 yr Why do we keep cutting revenue? http://www.huffingtonpost.com/2011/04/18/tax-cuts-rich_n_848933.html Why do we keep increasing spending?
April 18, 201115 yr Why do we keep increasing spending? That's the question that no liberal will answer.
April 18, 201115 yr I'm waiting for the Gang of Six to present their proposal. Since they promise that it will make everyone mad, it must be good. And DOA.
April 18, 201115 yr Author Why do we keep increasing spending? Discretionary spending is only 12% of the budget. Which conservative is going to step up and say "End all three wars we are fighting NOW", and cut military spending. We spend more on our military than the next 6 or 7 countries combined. How about if we just spent more than the next two or three combined, or even 4? Medicare spending is high, because no one wants to disrupt the "for profit" insurance and pharmacy business. The one program that we have put forth to DECREASE spending in medicare is the Affordable Care Act, and yet the conservatives want to repeal it. Why? Politics!!
April 18, 201115 yr Discretionary spending is only 12% of the budget. Which conservative is going to step up and say "End all three wars we are fighting NOW", and cut military spending. We spend more on our military than the next 6 or 7 countries combined. How about if we just spent more than the next two or three combined, or even 4? Medicare spending is high, because no one wants to disrupt the "for profit" insurance and pharmacy business. The one program that we have put forth to DECREASE spending in medicare is the Affordable Care Act, and yet the conservatives want to repeal it. Why? Politics!! Discretionary spending has historically been about a third of total spending. Last year was a bit higher than that. I haven't seen anything on the current budget but last year's act could have changed it. At the point we're at all spending should be discretionary.
April 18, 201115 yr Author The richest folks already pay over half of the bill... Here is part of the problem.. Half the folks pay nothing.. http://finance.yahoo.com/news/45-of-households-owe-no-cnnm-1091487965.html?x=0&sec=topStories&pos=5&asset=&ccode When you say pay "nothing" you really mean no income tax. The thing is, it would be silly to pull income away from them when THEY HARDLY HAVE ANY. But they do pay ALL KINDS of other taxes. The other thing is, you can really only pay taxes on what money you control, and the wealthy in this country control WAY OVER 50% of the money and wealth. So they control about 90% of the wealth and pay about 50% of the taxes. Interesting.
April 18, 201115 yr Discretionary spending has historically been about a third of total spending. Last year was a bit higher than that. I haven't seen anything on the current budget but last year's act could have changed it. At the point we're at all spending should be discretionary. The numbers I found put it at around 38% of total spend.
April 18, 201115 yr When you say pay "nothing" you really mean no income tax. The thing is, it would be silly to pull income away from them when THEY HARDLY HAVE ANY. But they do pay ALL KINDS of other taxes. The other thing is, you can really only pay taxes on what money you control, and the wealthy in this country control WAY OVER 50% of the money and wealth. So they control about 90% of the wealth and pay about 50% of the taxes. Interesting. Why would it be silly? The benefit from the programs and the like that tax dollars pay for, so they should be contributing. Everyone should pay the same percentage.
April 18, 201115 yr When you say pay "nothing" you really mean no income tax. The thing is, it would be silly to pull income away from them when THEY HARDLY HAVE ANY. But they do pay ALL KINDS of other taxes. The other thing is, you can really only pay taxes on what money you control, and the wealthy in this country control WAY OVER 50% of the money and wealth. So they control about 90% of the wealth and pay about 50% of the taxes. Interesting. Why should one be associated with the other when you're talking income taxes? If a person has paid the legal income tax on the way to building their wealth, why should it matter what percentage of wealth they hold?
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