What Major Compromises would you make?

[molten_dragon]

A compromise implies that both sides get what they want.One side wants meaningful cuts the other side wants tax increases.This provides that.

Except it doesn't, since you are only willing to consider tax increases AFTER you get a completely unrealistic set of budget cuts that almost no one, democrat or republican, would ever agree to. It's not really bargaining in good faith.

 

[blaxshep]

We already have the perfect comprimise in the fiscall cliff bill.

 

[American]

 

[wolfman24]

Depends on which party I'm with.

Dems - Delay the fiscal cliff final proposal for 6 months guarenteed and make due with some sort term proposal.
Maybe reduce the amount of cuts for defense spending. Agree to cut duplicate and unnecessary (dinosaur) federal agencies, departments and offices based on bipartisan committee report results.
There may be others but since I don't keep up with what the Dems get hot and bothered about this is about it.

OK before the Cons crawl all over me look at my last sentence.

Reps- Close "high end" loopholes in the tax code and laws so that a person who is in the 35% tax bracket (from all income) pays as close to that as possible. repeal most of Bush era tax cuts that do not affect the previous sentence. Agree to limited cuts in Defense spending. Agree to pass tax measures against any company who outsources jobs overseas (tough on China blurb). Agree to actual discussions regarding giving AE/RE an equal playing field with major energy companies. Negotiate for a cap on a persons ability to recieve SS or Medicare based on income from all sources.

Again there is probably more but thats it for now

 

[head of joaquin]

My compromise proposal would be to have greater reductions in defense spending, and close loopholes while lowering tax rates on the middle class and keeping the rates on the "rich" the same.

Not my ideal situation but that would be my first bargaining offer.

What "loopholes" survive AMT?

Honestly, the loophole talk is very loose. The rich already have most deductions phased out, except the charitable deduction. The rich benefit due to low rates, particularly on dividends, which Bush's tax cuts for Paris Hilton foolishly reduced to cap gains rates (dividends for the top bracket were taxes at 70% in the 60s). I wouldn't call that a loophole, I'd call it too low a tax rate.

 

[American]

What "loopholes" survive AMT?

Honestly, the loophole talk is very loose. The rich already have most deductions phased out, except the charitable deduction. The rich benefit due to low rates, particularly on dividends, which Bush's tax cuts for Paris Hilton foolishly reduced to cap gains rates (dividends for the top bracket were taxes at 70% in the 60s). I wouldn't call that a loophole, I'd call it too low a tax rate.

And the Paris Hilton meme continues.

 

[head of joaquin]

And the Paris Hilton meme continues.

It's your meme: you're fixating on giving her more tax breaks.

Why is that?

 

[Fenton]

What "loopholes" survive AMT?

Honestly, the loophole talk is very loose. The rich already have most deductions phased out, except the charitable deduction. The rich benefit due to low rates, particularly on dividends, which Bush's tax cuts for Paris Hilton foolishly reduced to cap gains rates (dividends for the top bracket were taxes at 70% in the 60s). I wouldn't call that a loophole, I'd call it too low a tax rate.

What are dividends ?

Interest rates on principle right ? And is that principle purchased or given ? Because if it's purchased it's purchased with income or IS income taxed usually at a higher rate than someone's secretary.

Buffet's plan for instance relied on the ignorance of millions of Americans to have an impact because it's actual fiscal impact was minimal.
and relatively non existent.

So the Obama administration actually sat around and said " Americans are stupid " ( more accurately their supporters were stupid ) they won't know these are two separate taxes and that people who make investments also take a chance on losing said principle.

Some idiots bought it, Most I think knew better.

So tax Capital gains higher and make those "eeebil rich" pay. The short answer is they'll be fine, the middle class will pay as investment capital is taken out of the free market.

 

[blaxshep]

It's your meme: you're fixating on giving her more tax breaks.

Why is that?

As opposed to your plan to make her bankrupt so we can get her on welfare?

 

[head of joaquin]

What are dividends ?

Interest rates on principle right ? And is that principle purchased or given ? Because if it's purchased it's purchased with income or IS income taxed usually at a higher rate than someone's secretary.

Buffet's plan for instance relied on the ignorance of millions of Americans to have an impact because it's actual fiscal impact was minimal.
and relatively non existent.

So the Obama administration actually sat around and said " Americans are stupid " ( more accurately their supporters were stupid ) they won't know these are two separate taxes and that people who make investments also take a chance on losing said principle.

Some idiots bought it, Most I think knew better.

So tax Capital gains higher and make those "eeebil rich" pay. The short answer is they'll be fine, the middle class will pay as investment capital is taken out of the free market.

Gee thanks for the primer.

Totally meaningless for the top bracket, but nice try. Millionaires don't need incentives to invest. They can't spend the money the make on the money they already have. But keep repeating the meme -- it's all conservatives have.

Psst: raise taxes on the top bracket and lower them for working folk. Is the concept just too complex for you to grasp?

 

[Jarhead]

Gee thanks for the primer.

Totally meaningless for the top bracket, but nice try. Millionaires don't need incentives to invest. They can't spend the money the make on the money they already have. But keep repeating the meme -- it's all conservatives have.

Psst: raise taxes on the top bracket and lower them for working folk. Is the concept just too complex for you to grasp?

Typical progressive b/s. It's all about income redistribution. Progressivism is a disease that destroys the countries it infest.

 

[Fenton]

Gee thanks for the primer.

Totally meaningless for the top bracket, but nice try. Millionaires don't need incentives to invest. They can't spend the money the make on the money they already have. But keep repeating the meme -- it's all conservatives have.

Psst: raise taxes on the top bracket and lower them for working folk. Is the concept just too complex for you to grasp?

meme......is that some sort of tic ? Because it's one thing to consider it in a rebut occasionally but you seem to lack the self control to use it sparingly. Here's another word for you to consider " Thesaurus " .

Conservatives have the cure to the virus that is liberalism even when their agenda is voted out by a electorate full of people who seem to have left their brains at home.

It's to step aside and watch the train wreck because your ideas just don't work.

 

[TurtleDude]

Gee thanks for the primer.

Totally meaningless for the top bracket, but nice try. Millionaires don't need incentives to invest. They can't spend the money the make on the money they already have. But keep repeating the meme -- it's all conservatives have.

Psst: raise taxes on the top bracket and lower them for working folk. Is the concept just too complex for you to grasp?

do you think that everyone that Obunny wants to tax and tax and tax some more is a millionaire?

 

[Spring99]

There is no need to raise tax rates on the wealthy if we can increase revenue enough by:

-limiting deductions on the wealthy.
-removing loopholes on the wealthy.
-taxing all of the income of the wealthy at 35%, not just the portions of their income above $250,000.

 

[TurtleDude]

Typical progressive b/s. It's all about income redistribution. Progressivism is a disease that destroys the countries it infest.

its a tool of vandalism. Often it is adopted by failures who cannot achieve and who don't want anyone else to achieve either. that this mindset makes their masters in office millionaires is an irony that the progressives don't seem to get

 

[TurtleDude]

There is no need to raise tax rates on the wealthy if we can increase revenue enough by:

-limiting deductions on the wealthy.
-removing loopholes on the wealthy.
-taxing all of the income of the wealthy at 35%, not just the portions of their income above $250,000.

dividends are already taxed far higher than 35%

Obama wants to tax it at over 60%

 

[What if...?]

meme......is that some sort of tic ? Because it's one thing to consider it in a rebut occasionally but you seem to lack the self control to use it sparingly. Here's another word for you to consider " Thesaurus " .

Conservatives have the cure to the virus that is liberalism even when their agenda is voted out by a electorate full of people who seem to have left their brains at home.

It's to step aside and watch the train wreck because your ideas just don't work.

Yeah, you guys never accept resonsibility for your train wrecks and then you want us to let you drive the train again.

 

[upsideguy]

Quick thoughts on this....

Discretionary spending:
> 20-25% reduction in defense department
> eliminate departments of education and energy
> federal government hiring freeze
> require 10 years service before qualifying for congressional pensions

Mandatory Spending:
>continue meaningful healthcare reforms within and without ACA to contain healthcare costs
>provide means-based insurance premiums for medicare participants (persons with net worth > say $2M would pay insurance premiums so long as net worth remained above that level)
>allow the importation of
>allow for competitive bidding on drugs
>create a 60% SSN benefit level at age 60 or 59; raise the 75% level to 64.


Tax reform:
>lower top corporate rate to 25%
>reduce expensing of capital equipment (sec 179 assets) to $25,000
>radically reform transfer pricing schemes to limit off-shoring of profits of US companies, perhaps institute a minimum tax on international operations for all corporations doing business in the US
>expand IRS audit force, particularly as it relates to policing transfer pricing
> allow temporary tax cuts enacted in 2001/03 to expire for taxable incomes over $250K
> Institute 50% income tax rate on taxable incomes over $1M
> cap itemized deductions at $50,000
> Allow first $100,000 of dividends, first $100,000 of interest and first $5M of capital gains to be taxed at 15% rate, thereafter it is ordinary income (maybe a mid-tier rate on cap gains... say $5M to $25M at 25%)
> change holding period of capital gains to two years
> create 15% job creation tax credit to provide tax relief to people that ACTUALLY create jobs (rather than this hypothetical idea of broad relief that includes people that have nothing to do with job creation)
> raise cap on SS tax to $250,000.
> 55% estate tax on estates > $5.0M

 

[YoungConserv]

No more baseline budgeting or cuts from proposed spending the budget must be less next year than it was this year

 

[Republic Now!]

Actually I do think the so called "Fiscal Cliff" will be the best compromise. A recession will most certainly hit from the tax spikes, revenues will plummet because of this recession, and mandatory spending will become strained because of necessary cuts.

But at least everyone's political agenda will be satisfied.

 

[CalGun]

So if a persons' social security payment was to be $1500 and they had saved prudently and had a retirement savings income
of $5,000 a month you would want them to lose $1250 of their social security? Man that's harsh after paying into it for 40
plus years to get $250 a month back...talk about work hard, save and give to those who didn't bother?

Tax capital gains and dividends at the normal FIT bracket rates but first adjust them for inflation.

Add more high end FIT brackets and rates, e.g. 388K-500K @ 35%, 500K-1M @39%, 1M-5M @ 42%, 5M-15M @ 45%, 15M-infinity @50%.

Means test SS such that income over 250% of the maximum SS benefit, reduces your SS benefit dollar for dollar.

Remove the income cap on the SS/Medicare withholding tax and apply it to all income (not just wages).

Limit itemized deductions to no more than $50K.

 

[Tonawanda]

Tax capital gains and dividends at the normal FIT bracket rates but first adjust them for inflation.

Add more high end FIT brackets and rates, e.g. 388K-500K @ 35%, 500K-1M @39%, 1M-5M @ 42%, 5M-15M @ 45%, 15M-infinity @50%.

Means test SS such that income over 250% of the maximum SS benefit, reduces your SS benefit dollar for dollar.

Remove the income cap on the SS/Medicare withholding tax and apply it to all income (not just wages).

Limit itemized deductions to no more than $50K.

That's the same Obama proposal/compromise that's on the table now.

 

[blaxshep]

Actually I do think the so called "Fiscal Cliff" will be the best compromise. A recession will most certainly hit from the tax spikes, revenues will plummet because of this recession, and mandatory spending will become strained because of necessary cuts.

But at least everyone's political agenda will be satisfied.

I agree, the fiscal cliff is actually the best comprimise out there, no one gets what they want but the country gets what we need.

 

[Tonawanda]

Actually I do think the so called "Fiscal Cliff" will be the best compromise. A recession will most certainly hit from the tax spikes, revenues will plummet because of this recession, and mandatory spending will become strained because of necessary cuts.

Not if control of the debt ceiling is handed over. Either way, I don't see any meaningful cuts occurring in the next 4 years.

 

[blaxshep]

Not as long as the clown in office believes that a 6% win is a mandate to spend. As far as the debt ceiling goes that has become the new budget so no it will never end.

All you have to do is look at the crap the Democrats are offering now to know that is true, all tax hikes and spending with empty promises to cut years later.