pBills Posted December 4, 2010 Author Share Posted December 4, 2010 Not how our form of government works. That's what the Tea Party and Republican Party has sold us though right? Great. Right after we follow the will of the people and extend the tax cuts only for those making less than $250K, we'll follow the will of the people once again and repeal the entire Health Care Law. Wait. What? Sure repeal it... and yet again have nothing done to help people out with an industry that has gone crazy. I guess you LOVE having your rates go up year after year after year. And THAT was before anything was voted on. Link to comment Share on other sites More sharing options...
TPS Posted December 4, 2010 Share Posted December 4, 2010 If you're one who gets hung up on income inequality I don't have anything for you. We can argue about class warfare and income gaps until we're blue in the face and all we're going to prove is that you are more concerned with parity and I'm more concerned with overall prosperity. Doesn't make anyone wrong, just different priorities. You've changed your argument from post to post, but as to the last point of this one I agree, tax policy does have a lot more to do with redistributing income than it does with growth, and to a large extent I have a problem with that. One thing I will tell you that most of the TV talking heads are too far removed from to know is that little guys starting a business from the ground up play hell trying to do it all above board because after all the government entities and agencies take their cut for fees and licensing and taxes and every other hair-brained revenue generating scheme drummed up under the guise of consumer protection, it leaves a scarce little bit for the guy trying to build his dream (and thereby grow the economy) to survive on. It's been a while since I've studied the topic so forgive me if my figures are slightly off, but In the 20s as well as the 80s, the top marginal rate was dropped from over 70%. In the 80s it went to 50% and then to 28%. I forget the figure for the 20s but it was a very significant drop from an exorbinantly high level. In the 2000s the drop in top marginal tax rate was far less dramatic and therefore, if you're using the model of Laffer, would not necessarily have gone from a tax rate of less revenue to one of greater revenue. I also haven't reviewed the change in revenue per bracket for that time so to use that as an example would be to talk out of my ass. Well then, to get back to the topic of tax credits to keep jobs here, the tide has turned. The cost differences are not so great anymore in China with the Yuan increasing and manufacturing wages rising there, falling here. GE recently announced it was moving a refrigerator facility back to the US from China. Anything that can help that process would be a good idea. Link to comment Share on other sites More sharing options...
IDBillzFan Posted December 4, 2010 Share Posted December 4, 2010 (edited) Sure repeal it... and yet again have nothing done to help people out with an industry that has gone crazy. I guess you LOVE having your rates go up year after year after year. And THAT was before anything was voted on. So you only want to follow the will of the people after a group of elected officials decides which will of the people to follow? Power to the people! But only if we say so! Edited December 4, 2010 by LABillzFan Link to comment Share on other sites More sharing options...
Magox Posted December 4, 2010 Share Posted December 4, 2010 That's what the Tea Party and Republican Party has sold us though right? Sure repeal it... and yet again have nothing done to help people out with an industry that has gone crazy. I guess you LOVE having your rates go up year after year after year. And THAT was before anything was voted on. Actually I'd rather have my rates go up 7% a year rather than 12%. Hey, but that's just me. Link to comment Share on other sites More sharing options...
pBills Posted December 5, 2010 Author Share Posted December 5, 2010 Actually I'd rather have my rates go up 7% a year rather than 12%. Hey, but that's just me. How about they fix the system instead of just saying well 7% is better than 12%. $60 Billion: The approximate amount that extending the Bush tax cuts on income above $250,000 a year — which Congress seems on the verge of doing — will cost a year, in inflation-adjusted terms. On average, the affluent households that benefit from these cuts will save $25,000 annually. What else might that $60 billion a year buy? Nice article... Link to comment Share on other sites More sharing options...
DC Tom Posted December 5, 2010 Share Posted December 5, 2010 Sure repeal it... and yet again have nothing done to help people out with an industry that has gone crazy. I guess you LOVE having your rates go up year after year after year. And THAT was before anything was voted on. As opposed to keeping it...and yet again have nothing done to help people out? Link to comment Share on other sites More sharing options...
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