Tax Cut for the Wealthiest Will Cost America $700B
 

Extend the tax cut for the wealthiest, America loses 700 Billion.


"As Henry and I discuss in the accompanying clip, Obama faces a "da--ed if you do, da--ed if you don't" situation: If he tries to do more to stimulate the economy (or even use the word "stimulus") he's labeled a big-spending Democrat with Socialist leanings. But if he focuses on austerity and bringing down the deficit, many economists fear he'll trigger another big downturn and concerns about the banking system, as is occurring in Europe."


Read story and view video below.

http://finance.yahoo.com/tech-ticker...tt_535411.html

Re: Tax Cut for the Wealthiest Will Cost America $
 

:bigbaby

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Just think what it has cost America electing Obama president!

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http://latimesblogs.latimes.com/wash...taxes-irs.html

Democrats don't remit taxes.

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Democrats are the tax cheats. go figure.

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So what do you have to say about the quote and the link I provided?

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Gotta to play up class warfare. Liberals want to punish success and get their greedy hands on money they did not earn.

Government workers are really after money from people that work and invested instead of spending.

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Where we have Obama we have divisiveness

He pumps up his uneducated minions to jealousy and greed.

Fat cats is a favorite leftie expression.

This same pay czar that said he would work for free. He took 120,000 according to FOIA documents.

By TOM KRISHER, AP Auto Writer Tom Krisher, Ap Auto Writer – Fri Sep 10, 3:45 pm ET
DETROIT – New General Motors Co. CEO Daniel Akerson will get the same package as the man he replaced, Ed Whitacre.


Obama said under 500,000. Did obama lie again?

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You do understand that the "wealthy" start business' and employee people. There money is not stuffed in their mattress or in a vault. It's invested in the economy.

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Interesting! I think he's "damned" because sometimes he does and sometimes he doesn't!

How can you believe anything (and that's a broad brush) that the man says. He's been proven wrong on so many things, and most have been posted on AFF in the past.

Have the "wealthy" contributed anything to America? It's not the poor that create jobs, it's the wealthy. How many jobs do you suppose Microsoft has created or provided to America?

How many jobs has Apple provided?

And the list could go on.

If Obama wants to deal with what caused so much of this present financial crisis why doesn't he deal with the Freddie Mac, Fannie Mae whealer-dealers?

One more question... Is there any previous examples of where taxes were cut for everyone and the economy turned around?

BT

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I have a neighbor. She lived next door and her office was next door in the office tower I moved to. Lets tax her. She has a couple hundred million in the bank. She drives 2 cars over 5 years old. The bank is stressed. If she takes out 100 million for taxes on her dividends, the bank has 100 million less to loan to customers and is even more stressed.
Jerym and Barack have not taken econ classess. They think it is popular to nail rich people. If the bank has less money to loan, less businesses start. Investment capital is part of economic growth. Obama wants to shrivel capital more than it already has. My estimate is the total value of equities in America under Bush was around 58 trilliion. Under Obama the value of equitiies fell to nearly 40 trillion. Lets tax these people even more and send more business to China.

Obama really pumps people up to covet money from the neighbor. Tax the wealthy. people that saved money instead of binge spending.

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You beat me to it. I was going to ask the question, What do you think the wealthy would do or do with the money that is not taxed? Yes, you guessed it. They invest it and in turn that gives the smaller guys jobs and in turn gets them off welfare/unemployment or whatever.
Tax the rich, lose your job.
The rich at least produce and or give something back by way of jobs and taxes. I think we need to go after the greatest consumer of the peoples income and that is the government. They take and cannot give what they have not first taken.

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JD doesnt realize that 2 percent of the people already pay 50 percent of the tax,you can only squeeze the orange so much JD.

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It will cost America 700 Billion dollars in revenue to extend the taxes on the "wealthiest".

I understand the argument that the wealthiest contribute to the national economy-- but not every "wealthy" person contribute to the economy in the way that employs people.

Further, it's in their best interest to invest and grow their companies-- they will do this regardless.

Why shouldn't the wealthy do what they can to help their country?

Whatever happened to, "Ask not what your country can do for you, but what you can do for your country"?




Oh that's right, that only applies to the poor in order to motivate them to send their sons and daughters to fight and die in unnecessary wars while the sons and daughters of the wealthiest can party it up at college.


I guess the wealthiest Americans seem to always get the tough breaks in life.

Let's not tax them at all so! We owe rich people so much!
(I would compare this to Affirmative Action-- but tax cuts for the wealthiest is special treatment for people who are not disadvantaged, neither is there a risk of their marginilization in our capitalist society.)

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You have a strawman argument by asking why the wealthy can't do for the country.

Thou shalt not steal. Liberal minds think seizing assets and wealth from the wealthy to give to the poor is not theft.

The wealthy man's money is his. It is not yours. It doesn't belong to Obama to give to his pork buddies. It is not property of the poor man.

Under communism, the belief that wealth belongs to those that haven't worked for it is how they start revolution.

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Jermyn. It seems yiou can't cut and past accurately and honestly
''

It will cost more than 700 billion if we eliminate tax cuts.



I think you meant tax cuts instead of taxes.

run to Yahoo and cut and paste political propoganda and tell us you support Obama.
It is not working is it?
You can buy a second hand Samuelson or other freshman econ text book at a garage sale for 2 bucks or less. That would put you ahead of Obama in econ info.

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JD remember this when it comes april 15, no deductions for you ,remember ask not what your country can do for you.... also maybe you should blame all the new hires by your buddy otrauma in the justice dept and the irs , they owe something like 38 million in back taxes! But why wouldnt they, when their boss gietner, is one of them

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How come the "wealtheist" includes those making 200k?

Why do you want to tax them so much? Because they make more money than you?

You know why there will be less tax money? Because NOBODY IS WORKING. You tax the rich more and in this economy they'll lay off more people...welcome to socialism

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If a rich person can't make money with their money in business, they will do other things with it that is taxed less. It is a fact, the higher the tax rate the less business thrives. There has to be incentive for folks with money to risk their money.

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The wealthy right NOW are already paying MORE taxes than you do, now you want to say "we've bleed you, now if you really were an American you'd let us bleed you more"? Why not raise taxes on everyone equally?

You want to Tax them more but they are already paying MOST of the taxes..they get the tough breaks in life? So let's just beat the crud out of them and steal what is theirs

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That's goofy, JD, the rich are ready paying, not only most of the taxes, they pay at higher rates. The argument about the "poor" fighting the wars is nonsense, the highest percentage of the military is middle and upper middle class. These are tire old arguments that the Demo continue to use and the media doesn't debunk, because they are the fifth column.

BTW: Fortysomething percent of Americans pay NO federal income taxes!!! Who do you think is already paying.

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Many espouse a rally cry of all Americans should pay their "Fair share." What does that mean?

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From each according to his ability, to each according to his need (or needs) is a slogan popularized by Karl Marx

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Thank you Coadie but I am kind of looking for an explaination that further details "fair share".
Everyone seems to be talking about tax this group, tax that group so surely there is a fair way of taxing and I keep hearing "fair share" so what does that mean?

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I wish they would just say a percentage for everyone and call it good and cut some social programs.

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Read the lie from Obama last week.
He has an uneducated audience that doesn't know it when he fibs.

http://www.americanthinker.com/blog/...he_l_word.html

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This approach would make too much sense.

In fact, if they really wanted to make things fair, they would eliminate income taxes all together. Just tax the things that people purchase.

Again, sensibility escapes most when it comes to taxes.

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Some would say that is unfair because those who purchase cars or homes or boats would pay more than those who just purchase food and clothing and pay rent.

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(1) You are mistaken, but maybe you have stats to back your claim up.

(2) For all the good that rich people do, you would think they would employ people and pay them at a wage where they can actually afford to pay taxes. However, I don't believe that 40% of Americans are paying no federal income taxes. Do you have stats?

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Well at least it would be thier choice to buy this or buy that.

Most people have limited abilities when it comes to choosing thier income bracket-- so many "X" factors involved.

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Thanks for catching my mistake.

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A couple things I think are "unfair" is the hangover from when people were divided into "the landed gentry" and "the serfs"

those who own a home are given a tax break because they can claim the interest as untaxable income

those who own a home can use their property to post bond while those who do not own a home must remain incarcerated

Something which I think is government subsidy of religion is that churches do not have to pay taxes on their property like businesses and individuals do

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As soon as the gubment taxes religion, they lose separation of church and state. Filling out tax forms for non profits already is over reaching in separation.

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:thumbsup

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I was at a speech by Huckabee. He said tax on sales. Well that means drug dealers and prostitutes would pay more tax.

Class envy is a tool used by Marxist, Communist and Socialist to pit the middle class and the rich against each other.

Poor people already see huge tax increases on cigarettes. Obama smokes but he is wealthy.

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http://www.american.com/archive/2007...pays-the-taxes

I am for fair taxes. Fair is equality right?

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It's really not about class envy or class warfare.

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Coadie,

Are you against the idea of eliminating the income tax all together to replace that system where only purchased goods are taxed?

Why or why not?

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I think the gov would be more wise on military spending, welfare, disability etc... we wouldn't have to raise taxes. Interesting, I've heard there has been cut backs on school budgets but haven't heard any on welfare.

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I think I read that spending on "corrections" and for the incarcerated is also high.


The whole system needs to be changed!