120 Days to Go Until the Largest Tax Hikes in US History

[Mike F]

^^^

Economy suffers record collapse

The Irish economy contracted by 7.1pc last year - the largest fall recorded in a single year, official figures revealed today.

The Central Statistics Office said the value of all goods and services suffered the biggest collapse in history but the rate of decline eased slightly as the year went on.

[Vulcan]

Originally Posted by VladtheImpaler

I didn't write the OP or the article, so why would I edit it? BTW, I am not arguing one way or the other on this issue - I just wanted to point out that Vulcan's "tax the rich" attitude is naive and silly.

and as has been pointed out this isn't a tax the rich issue anymore (it was when Bush enacted it), it's the non-renewel of a temporary tax break that the government isn't in a position to pay for.

[amorak]

Originally Posted by Calgaryborn

But the answer has got to be for the Federal Government to make better history by shrinking to line up with their current revenue.

At the same time they should reign in the Enviromental Protection Agency. Congress and the President need to be deciding what needs to be protected from industry and where the wealth industry produces is worth the environmental loss: Not unelected career environmentalists.

Mikey_the_redneck, I've found your soul-mate.

[La Flames Fan]

[HOZ]

[calculoso]

Originally Posted by Flames Fan, Ph.D.

The next time you cut and paste it, I would recommend removing the false item about the bracket that 2/3rds of small businesses fall into

If you have a problem with it, take it up with the author of the original article.

[VladtheImpaler]

Originally Posted by Vulcan

and as has been pointed out this isn't a tax the rich issue anymore (it was when Bush enacted it), it's the non-renewel of a temporary tax break that the government isn't in a position to pay for.

Read your first post in the thread...

[VladtheImpaler]

Originally Posted by Mike F

^^^

Economy suffers record collapse

Best time to move there, don't you think?

[calculoso]

Originally Posted by Vulcan

and as has been pointed out this isn't a tax the rich issue anymore (it was when Bush enacted it), it's the non-renewel of a temporary tax break that the government isn't in a position to pay for.

Net effect is the same. They pay more one year than the year previous, thus their taxes went up.

[Vulcan]

Originally Posted by VladtheImpaler

Read your first post in the thread...

I did, there is no contradiction.

[Vulcan]

Originally Posted by calculoso

Net effect is the same. They pay more one year than the year previous, thus their taxes went up.

So, they knew it was coming. It's like an introductory offer, it doesn't last forever.

[Mike F]

Originally Posted by VladtheImpaler

Best time to move there, don't you think?

I see what you're doing. . . .

[VladtheImpaler]

Originally Posted by Vulcan

I did, there is no contradiction.

Typical leftie knee-jerk response. I honestly don't know what they should do about the expiring tax cuts - I just don't have enough knowledge of economics and fiscal policy. I agree that the US government needs to start trimming the debt, but higher taxes mean less consumer spending, which in turn hurts the economy, which in turn means less tax revenue, which in turn means more debt. So, what's the right course? I don't know, but I do know that "good, tax the rich" is not a credible response to anything...

[calculoso]

Originally Posted by Vulcan

So, they knew it was coming. It's like an introductory offer, it doesn't last forever.

Introductory offers don't last 10 years.

[Vulcan]

Originally Posted by VladtheImpaler

Typical leftie knee-jerk response. I honestly don't know what they should do about the expiring tax cuts - I just don't have enough knowledge of economics and fiscal policy. I agree that the US government needs to start trimming the debt, but higher taxes mean less consumer spending, which in turn hurts the economy, which in turn means less tax revenue, which in turn means more debt. So, what's the right course? I don't know, but I do know that "good, tax the rich" is not a credible response to anything...

You're Reagonomics response wasn't any better.
I'm in the same position with my knowledge of economics but listening to those who seem to understand, it sounds like a sop to the rich that they'll really never miss. The senator defending the tax cut won't give a straight answer to anything, so I picked my side.

[peter12]

Originally Posted by Vulcan

You're Reagonomics response wasn't any better.
I'm in the same position with my knowledge of economics but listening to those who seem to understand, it sounds like a sop to the rich that they'll really never miss. The senator defending the tax cut won't give a straight answer to anything, so I picked my side.

Then stop using the term "Reagonomics" as a rhetorical ploy.

[Vulcan]

Originally Posted by peter12

Then stop using the term "Reagonomics" as a rhetorical ploy.

I'm sure everyone here knows the popular basis for Reagonomics.

and by the way it's just tit for tat with this quote.

Typical leftie knee-jerk response

[Shazam]

Historically, the US has had much higher top tax rates, so really, this "largest tax hike" is a bit of a misnomer.

[troutman]

Russia's creative strategy to boost the economy:

http://cnews.canoe.ca/CNEWS/World/20.../15222651.html

Smoke and drink more, Russia’s finance minister Alexei Kudrin said to citizens on Wednesday, explaining that higher consumption would help lift tax revenues for spending on social services.

[VladtheImpaler]

Originally Posted by Vulcan

You're Reagonomics response wasn't any better.
I'm in the same position with my knowledge of economics but listening to those who seem to understand, it sounds like a sop to the rich that they'll really never miss. The senator defending the tax cut won't give a straight answer to anything, so I picked my side.

Uhhh, what Reaganomics response? I said that tax hikes are inevitably borne by the wage-earning middle class, as the poor don't pay taxes and the rich can take advantage of various breaks and incentives to reinvest their money... and that taxing the middle class would cause less consumer spending, and hurt the economy. Is that Reaganomics?