Senior Member
Bush tax cuts expire for Americans making more than $250,000
CNN's John King allowed Sen. Mitch McConnell to revive the debunked claim that letting the Bush tax cuts expire for Americans making more than $250,000 would affect a large percentage of small businesses. In fact, according to the Tax Policy Center, 481,000 small businesses -- about 2 percent -- fall in the top two income tax brackets that would be affected by those increases.
http://mediamatters.org/items/200902230003?f=h_top
Super Minion
Mediamatters?Originally Posted by Jagger
"The government is a child that has found their parents credit card, and spends knowing that they never have to reconcile the bill with their own money"-Shannon Churchill
Independent Thinker
How about commenting on the content, rather than the source? After all, if we all automatically debunked any source that was biased, we'd have to all ignore each other.
I've got no problem cutting the Bush tax cuts. I've not seen any significant economic gain from them, and the increase in national debt that they caused will be a drain on our economy for decades to come.
For those who want to cut taxes, fine. But cut spending to match.
Super Minion
How about you?How about commenting on the content, rather than the source? After all, if we all automatically debunked any source that was biased, we'd have to all ignore each other.
I've got no problem cutting the Bush tax cuts. I've not seen any significant economic gain from them, and the increase in national debt that they caused will be a drain on our economy for decades to come.
For those who want to cut taxes, fine. But cut spending to match.
"The government is a child that has found their parents credit card, and spends knowing that they never have to reconcile the bill with their own money"-Shannon Churchill
Independent Thinker
How about me what? I'm not mocking his source.
And the topic relates to Bush tax cuts, and my opinion on that is clear - they should be eliminated because they were put into place without corresponding pending cuts. I don't care if they impact every business or just one. Its borrowed money paying for them, ergo they must go.
Senior Member
question.....I don't recall, when they talk about letting the Bush tax cuts expire, any language distinguishing the provisions that benefited those over $250k from those under.....aren't the provisions that benefited those of us under $250k also expiring?.....
...full immersion.....
Senior Member
I'll be honest, I'm surprised that is possible......if you have kids you have been getting the $1000 per child tax credit.....if you are married you've been getting reduced tax rate that eliminated the marriage penalty.......about the only people who did not see a reduction in taxes would be single, no children folks who were paying minimal income taxes prior to the changes.....
...full immersion.....
Independent Thinker
Sorry if I wasn't clear. I said economic gain, not personal gain. I meant the national economy as a whole. I'm very appreciative of paying less taxes, but don't particularly want to do so at the expense of later generations. Our ballooning deficit has hurt the dollar and weakened the nation and the economy as a whole hasn't done much since they were put into place.
Last edited by DannyR; 02-24-2009 at 10:44 AM.
Senior Member
I guess that's where we differ.....when I envision a hundred million people getting personal gain, I look at it as economic gain for the entire country......
...full immersion.....
Independent Thinker
Perhaps so. Perhaps the stimulus of the tax breaks just held back the dam and kept it from breaking sooner. But in general the economy as a whole has been pretty flat throughout Bush's term, taking the dive at the end. And the cost will have to be repaid plus interest down the road. It was a bad deal in my opinion.
If borrowing for the Obama stimulus is bad, then why don't you take the position that Bush doing pretty much the same to fund his own tax cuts is likewise bad?
Senior Member
???....obviously you are new here....I have been complaining about Bush and the Republican Congress spending like a bunch of drunken Democrats pretty much since 2002......and it wasn't his tax cuts that were the problem, it was his spending.....
...full immersion.....
Independent Thinker
Tax cuts are a form of spending if you don't have excess income to correspond to them. Subtract from one side of the equation, you gotta add to the other. Basic arithmetic.
Senior Member
it isn't arithmetic, it's economics.....subtract from the supply of cash in the economy (through taxation), damage the economy.....even Obama has acknowledged that increased taxes damage the economy.....the difference is, he's willing to do that if he thinks the economy is strong enough to survive it.....a rational person would realize damaging the economy is NOT a good thing to do, ever......
...full immersion.....
Senior Member
so then we agree....we need to cut spending, cut taxes and live within our means......
...full immersion.....
Independent Thinker
Granted, taxes hurt the economy. I'll not argue that.
But living on borrowed money harms it more in the long term.
I've never seen any couple who lived beyond beyond their means come to a good end. Our nation is facing a payback in the future, and I fear it will make today's recession seem like good times.
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