• This is a political forum that is non-biased/non-partisan and treats every persons position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Democrats may stop Bush-era tax cuts for wealthy from expiring

stealthy

Member
Joined
Feb 1, 2010
Messages
123
Reaction score
34
Gender
Undisclosed
Political Leaning
Very Conservative
Democrats are considering a plan to delay tax hikes on the wealthy for two years because the economic recovery is slow and they fear getting crushed in November’s election.

It could mean a big reprieve for families earning $250,000 and above annually.

President George W. Bush’s tax cuts will expire at the end of the year unless Congress acts to delay their sunset.

Some Democrats are now arguing forcefully that a delay is a win-win plan that would help the federal budget without hurting the economy.

Democrats may stop Bush-era tax cuts for wealthy from expiring - TheHill.com

That ought to set some hair on fire. They admit tax cuts help the economy at least.
 

Ikari

Moderator
DP Veteran
Joined
Dec 8, 2006
Messages
74,362
Reaction score
42,455
Location
Colorado
Gender
Male
Political Leaning
Libertarian - Left
Hahah, a big reprieve for families earning over 250,000 dollars. Yeah, that's great. Let's lighten the tax burden on the group not suffering. What about the middle class? Do we even care about those bastards anymore? Or have we abandoned all pretense and have admitted that the government does nothing but serve the elite and new aristocracy?
 

Taylor

DP Veteran
Joined
Aug 31, 2009
Messages
14,198
Reaction score
5,642
Location
US
Political Leaning
Undisclosed
Do we even care about those bastards anymore?
I don't understand all the crying. Are you not getting your $7 a week as part of the Obama "tax cuts for all?" That's McDonald's for "free" once a week! Who needs a job when you can make those rich bastards and small businesses pay for McDonald's?
 
Last edited:

The Dane

Active member
Joined
Jul 16, 2010
Messages
253
Reaction score
62
Gender
Male
Political Leaning
Centrist
The Economists' statement opposing the Bush tax cuts was a statement signed by roughly 450 economists, including ten of the twenty four American Nobel Prize Laureates alive at the time, in February 2003 who urged the U.S. President George W. Bush not to enact the 2003 tax cuts; seeking and sought to gather public support for the position. The statement was printed as a full-page ad in The New York Times and released to the public through the Economic Policy Institute. According to the statement, the 450 plus economists who signed the statement believe that the 2003 Bush tax cuts will increase inequality and the budget deficit, decreasing the ability of the U.S. government to fund essential services, while failing to produce economic growth
http://www.epi.org/page/-/old/stmt/2003/statement_signed.pdf
 

Your Star

Rage More!
Moderator
DP Veteran
Joined
May 15, 2010
Messages
27,246
Reaction score
19,928
Location
Georgia
Gender
Female
Political Leaning
Progressive
Ugh, please don't do this.
 

stealthy

Member
Joined
Feb 1, 2010
Messages
123
Reaction score
34
Gender
Undisclosed
Political Leaning
Very Conservative
I think it's just a head fake. Some of them want a CYA in the upcoming election.
 

Dav

DP Veteran
Joined
Mar 7, 2009
Messages
5,539
Reaction score
1,813
Location
Virginia
Gender
Male
Political Leaning
Libertarian - Right
Hahah, a big reprieve for families earning over 250,000 dollars. Yeah, that's great. Let's lighten the tax burden on the group not suffering. What about the middle class? Do we even care about those bastards anymore? Or have we abandoned all pretense and have admitted that the government does nothing but serve the elite and new aristocracy?
Keeping the tax burden what it is is not lightening the tax burden; this is a failure of distinction I see way too often. And anyways, if the government are supposed to be "serving the aristocracy", they sure are doing a crappy job of it, considering the hugely disproportional share of the tax burden the wealthy* already have.

*not that $250,000 a year would necessarily make one "wealthy" by any means.
 

Ikari

Moderator
DP Veteran
Joined
Dec 8, 2006
Messages
74,362
Reaction score
42,455
Location
Colorado
Gender
Male
Political Leaning
Libertarian - Left
Keeping the tax burden what it is is not lightening the tax burden; this is a failure of distinction I see way too often. And anyways, if the government are supposed to be "serving the aristocracy", they sure are doing a crappy job of it, considering the hugely disproportional share of the tax burden the wealthy* already have.

*not that $250,000 a year would necessarily make one "wealthy" by any means.
I don't know, they already took a bunch of my money and gave it to the rich ass banks and lenders who caused this mess in the first place. Seems to me that they're doing a fine job at it. And a quarter of a million dollars a year makes you wealthy. You may not be stupid filthy rich like the true aristocracy, but you're damned well off.
 

Harry Guerrilla

DP Veteran
Joined
Dec 18, 2008
Messages
28,955
Reaction score
12,423
Location
Not affiliated with other libertarians.
Gender
Male
Political Leaning
Libertarian
I don't know, they already took a bunch of my money and gave it to the rich ass banks and lenders who caused this mess in the first place. Seems to me that they're doing a fine job at it. And a quarter of a million dollars a year makes you wealthy. You may not be stupid filthy rich like the true aristocracy, but you're damned well off.
Man, most of the people pulling $250k a year aren't evil maniacal bankers.
They are small business owners.

Direct your anger towards the political class, we don't need this income class warfare.
It's dumb.
 

VanceMack

MSG Benavides TAB
DP Veteran
Joined
Feb 1, 2010
Messages
73,218
Reaction score
30,803
Gender
Male
Political Leaning
Independent
Hahah, a big reprieve for families earning over 250,000 dollars. Yeah, that's great. Let's lighten the tax burden on the group not suffering. What about the middle class? Do we even care about those bastards anymore? Or have we abandoned all pretense and have admitted that the government does nothing but serve the elite and new aristocracy?
What do you suggest they do for the lower income groups? another 24 dollars a month 'rebate' that you have to claim on your taxes (and since you saw it in the form of a 12 dollar a paycheck increase you probably didnt 'see' it at all)?
 

Ikari

Moderator
DP Veteran
Joined
Dec 8, 2006
Messages
74,362
Reaction score
42,455
Location
Colorado
Gender
Male
Political Leaning
Libertarian - Left
Canceling unemployment extensions in a recession is stupid. Especially on the horizon of a double dip.
Indeed. In a recession like this, if the government is going to take my money and do something with it, they should do something productive. Not bailing out "too big to fail" jerks or rewarding the banks for having behaved so improperly as to crash the system. But rather public works projects. Could of had a real, bonafide, high speed rail system linking the major cities of America. New York to Chicago in a few hours sort of thing. Could have taken the internet as public utility and laid the backbone of a high speed internet system. Could have hired people to start tearing down Detroit since no one lives there. All these things which would have made jobs, but no. Instead my money went to the banks and the lenders and the companies which were "too big to fail". In short, it went to the rich. And now we're still not even talking about proper ways to get out of this recession. We're not talking about temporary public works projects to take a load off unemployment till the private sector could recover. We're talking about tax breaks to people making over a quarter of a million dollars a year. Nice, real nice.
 

Taylor

DP Veteran
Joined
Aug 31, 2009
Messages
14,198
Reaction score
5,642
Location
US
Political Leaning
Undisclosed
According to the statement, the 450 plus economists who signed the statement believe that the 2003 Bush tax cuts will increase inequality and the budget deficit, decreasing the ability of the U.S. government to fund essential services, while failing to produce economic growth
Wow 450 plus economists were wrong, thanks for sharing! In the years since the tax cuts, the deficit decreased and the economy grew.

Now is this the part where you try to blame tax cuts on the loose monetary policy, non-existent standards for mortgage qualifications - the buying and selling of repackaged trash that spurred the current meltdown?
 

Ikari

Moderator
DP Veteran
Joined
Dec 8, 2006
Messages
74,362
Reaction score
42,455
Location
Colorado
Gender
Male
Political Leaning
Libertarian - Left
Man, most of the people pulling $250k a year aren't evil maniacal bankers.
They are small business owners.

Direct your anger towards the political class, we don't need this income class warfare.
It's dumb.
We already have it with the War on the Middle Class. Damn...Fox News should hire me, I'm awesome at this ****.
 

VanceMack

MSG Benavides TAB
DP Veteran
Joined
Feb 1, 2010
Messages
73,218
Reaction score
30,803
Gender
Male
Political Leaning
Independent
Canceling unemployment extensions in a recession is stupid. Especially on the horizon of a double dip.
Do you get what you just said? Cancelling unemployment extensions...as if it was some sort of in place expectation. The correct verbage would be "defeat proposed extensions of unemployment checks" or "extend MORE government bailout dollars because the unemployment rate still blows".

Where is the effort to reduce unemployment? I mean...other than creating 400,000 temp census jobs...
 

Ikari

Moderator
DP Veteran
Joined
Dec 8, 2006
Messages
74,362
Reaction score
42,455
Location
Colorado
Gender
Male
Political Leaning
Libertarian - Left
Now is this the part where you try to blame tax cuts on the loose monetary policy, non-existent standards for mortgage qualifications - the buying and selling of repackaged trash that spurred the current meltdown?
Nope, that's the argument which demonstrates that some amount of regulation is necessary.
 

The Dane

Active member
Joined
Jul 16, 2010
Messages
253
Reaction score
62
Gender
Male
Political Leaning
Centrist
You are incorrect, corporations are posting very good earnings, they are not in danger of falling under. Weakening consumer spending even more is far more dangerous at this point as alot of economists agree.
 

The Dane

Active member
Joined
Jul 16, 2010
Messages
253
Reaction score
62
Gender
Male
Political Leaning
Centrist
And they are spending...
 

Taylor

DP Veteran
Joined
Aug 31, 2009
Messages
14,198
Reaction score
5,642
Location
US
Political Leaning
Undisclosed
Could of had a real, bonafide, high speed rail system linking the major cities of America. New York to Chicago in a few hours sort of thing. Could have taken the internet as public utility and laid the backbone of a high speed internet system. Could have hired people to start tearing down Detroit since no one lives there. All these things which would have made jobs, but no. Instead my money went to the banks and the lenders and the companies which were "too big to fail".
I see. We should have let the financial system collapse, brought the lending industry to screaming halt, and encumbered all related transactions to build some trains that people won't use and to give them faster porn downloads to pass all the free time they'd be having without jobs.

Stupid rich people!
 

VanceMack

MSG Benavides TAB
DP Veteran
Joined
Feb 1, 2010
Messages
73,218
Reaction score
30,803
Gender
Male
Political Leaning
Independent
I don't know, they already took a bunch of my money and gave it to the rich ass banks and lenders who caused this mess in the first place. Seems to me that they're doing a fine job at it. And a quarter of a million dollars a year makes you wealthy. You may not be stupid filthy rich like the true aristocracy, but you're damned well off.
First off...I am not in favor of the bank bailouts. second...Im about to make a huge assumption...

But My guess is they PROBABLY didnt take a bunch of "your" money and give it to bankers and lenders (who have pretty much paid most of it back). Just curious...how much did you actually pay in taxes and how much did you get back? ANd while I dont agree with the bank bailout program the intent wasnt a government giveaway it was an attempt to keep banks solvent and continue to allow people like you to take out loans for cars, homes, etc.

The tax cuts you are bitching about are intended to keep investors in the markets and to stimulate economic growth. We tend to not sleep on our cash...we tend to want to see it grow. Without confidence or with expectation of greater taxes, most investors that make more than $250k are holding off...securing their existing investments...taking a wait and see approach.

We arent talking about economic dealings that impact the change in your ashtray and seat cushions here. This is big boy economy talk.
 
Top Bottom