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Old 10-21-2012, 10:22   #326
certifiedfunds
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Quote:
Originally Posted by muscogee View Post
If you raise taxes you're a leftist, socialist, fascist, communists and you're ignorant. The next President will raise your taxes because he has too. Do you want the working class and middle class to bear the bulk of the tax increases, like they have since Reagan, or do you want to ultra rich to bear the bulk of the burden?
The socialists aren't trying to tax the ultra rich. They're trying to tax folks making $250k-$1MM/ yr. those aren't ultra rich

Besides if you tax the wealthy at100% it still won't fund all of your socialist spending.
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Old 10-21-2012, 10:47   #327
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Quote:
Originally Posted by muscogee View Post
If you raise taxes you're a leftist, socialist, fascist, communists and you're ignorant. The next President will raise your taxes because he has too. Do you want the working class and middle class to bear the bulk of the tax increases, like they have since Reagan, or do you want to ultra rich to bear the bulk of the burden?
The taxes Obama wants on the rich will generate about $50 billion in added revenue.

My guess is he will want to spend it - not use it to reduce the deficit.

But where is the other $950 billion going to come from?

We must cut spending -

BTW

Tax collections have gone up A LOT

Last year Regan was in office total federal revenue was $909 billion - they spent $1.06 trillion

Now we collect $2.5 trillion - a 175% increase in taxes

and spend $3.8 trillion a 259% increase.

-------------------

You have your facts mixed up --

The share of taxes paid by the "rich" has increased -

Rich pay a higher % of their income - and also pay a greater % of total taxes - these are facts - go look it up.

The political spin of the Bush tax cuts goes like this -

The rich got $50,000 tax cuts and the poor guy only got a $2,000 cut.

So before the rich guy paid $350,000 in taxes - now he pays $300,000.

The lower income guy paid $6,000 before - now they pay $4,000. (including payroll taxes).

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Old 10-21-2012, 10:54   #328
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Quote:
Originally Posted by Z71bill View Post
The taxes Obama wants on the rich will generate about $50 billion in added revenue.

My guess is he will want to spend it - not use it to reduce the deficit.

But where is the other $950 billion going to come from?

We must cut spending -

BTW

Tax collections have gone up A LOT

Last year Regan was in office total federal revenue was $909 billion - they spent $1.06 trillion

Now we collect $2.5 trillion - a 175% increase in taxes

and spend $3.8 trillion a 259% increase.

-------------------

You have your facts mixed up --

The share of taxes paid by the "rich" has increased -

Rich pay a higher % of their income - and also pay a greater % of total taxes - these are facts - go look it up.

The political spin of the Bush tax cuts goes like this -

The rich got $50,000 tax cuts and the poor guy only got a $2,000 cut.

So before the rich guy paid $350,000 in taxes - now he pays $300,000.

The lower income guy paid $6,000 before - now they pay $4,000. (including payroll taxes).

I think most folks would define$50,000, married,2 kids as middle class.

That guy pays negligible to nothing in federal income taxes.
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Old 10-21-2012, 11:52   #329
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Originally Posted by certifiedfunds View Post
I think most folks would define$50,000, married,2 kids as middle class.

That guy pays negligible to nothing in federal income taxes.
But pays 7+K in payroll taxes (if you count the tax paid by the employer)

I was including payroll taxes - both what the employee pays & what is paid by the employer.

Liberals need to decide -

Do you want the taxes collected as payroll taxes - to be counted like general revenue - so it is "counted just like income taxes" in the total taxes a person pays (Buffet rule BS)

OR

Do you want social security and medicare to be considered a YOU PAY FOR IT sort of like a retirement plan- so it is not welfare for old people.

IMHO liberals want it BOTH ways -

I see it more like an income tax - and that makes social security welfare - so adjust the tax structure to change the rates so they collect the same amount of revenue as the current split (income tax & payroll taxes) and all of a sudden social security is just another program funded by general revenue - and the payments people get from social security when they hit the magic age of entitlement are welfare.

Last edited by Z71bill; 10-21-2012 at 11:53..
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