What happened to all of the doom and gloom economic threads?

[unregistered]

 

[richard_daily]

I have no problem making money...just as I have no problem paying taxes on what I make, irregardless of how it was made. Yes, I do believe that investment income should be taxed at the same rate as personal income from wages. After all, income is just that...income. Last week, we were talking about how Mitt's income was based predominately on carried interest. That means it wasn't his money, but he got a kick-back on the profits from that money simply because he was the "manager". Yes, that should be taxed as personal income. Is that simple enough for you?

You'll need to dumb it down a little more for jeninflorida to comprehend it.

 

[mercury14]

Tell it to Congress you idiot.

U mad?

 

[unregistered]

 

[Sean Renaud]

I'd rather you tell it to Congress because frankly it would be more effective coming from your side of the aisle.

 

[RightField]

So, is the democrat plan to increase capital gains taxes, increase taxes on wealthy people and increase taxes on lots of people to support Obamacare...and that's going get our unemployment rate back to 4.6% and retire our debt?

 

[Sean Renaud]

So, is the democrat plan to increase capital gains taxes, increase taxes on wealthy people and increase taxes on lots of people to support Obamacare...and that's going get our unemployment rate back to 4.6% and retire our debt?

It's a tad bit more complicated than that but yes that is the general plan.

 

[Ham Murabi]

It's a tad bit more complicated than that but yes that is the general plan.

Boy, the economy is just going to purr like a kitten when we start giving that much more money to the government.

 

[coastal-boy]

So, is the democrat plan to increase capital gains taxes, increase taxes on wealthy people and increase taxes on lots of people to support Obamacare...and that's going get our unemployment rate back to 4.6% and retire our debt?

I would expect that to work as well as the massive cuts the GOP plans have proposed.

Why not a combination of both?.

 

[RightField]

It's a tad bit more complicated than that but yes that is the general plan.

Increase taxes by $70B a year and magically, the rest of the $1.1T deficit will go away. Increase capital gains taxes so that money doesn't move as efficiently towards new opportunities and that will bolster business. Sounds like a democrat plan to me, something worthy of "F" Troop.

The last three years of democratic governance have been a nightmare and I think they're trying to deflect attention away from Obamacare, the economy, their anti-business screeds and horrible energy plan (stop drilling offshore?).

 

[Sean Renaud]

Boy, the economy is just going to purr like a kitten when we start giving that much more money to the government.

Worked before.

Increase taxes by $70B a year and magically, the rest of the $1.1T deficit will go away. Increase capital gains taxes so that money doesn't move as efficiently towards new opportunities and that will bolster business. Sounds like a democrat plan to me, something worthy of "F" Troop.

The last three years of democratic governance have been a nightmare and I think they're trying to deflect attention away from Obamacare, the economy, their anti-business screeds and horrible energy plan (stop drilling offshore?).

It's likely that the increase would be for far more than 70B a year. As I keep telling you using the 2010 and 2011 numbers isn't a good sample. Unemployment is lower know than it was then so even left alone we'd pull in more in revenue this year than we did the years before. Iraq war is over and the Afghanistan war is coming to a close. Even if we did nothing spending would go down and thus decrease the deficiet.

There is little evidence that increasing capital gains taxes would make the money move any less efficiently. That's at best a Republican myth and at worst an outright lie. You can attempt to make a long term argument about there simply being less money in the hands of investors overall at the end of the day and try to make that stick but even that's a hard sell.

The last three years of the do nothing Congress have been annoying. They don't need to deflect though. Obama and the Democrats can proudly run on the record. Obamacare isn't perfect but it's a step in the right direction. The economy is improving and not one Republican candidate nor drone has stated what they would specifically have done differently and how it would have improved things over where we are now. The anti-bussiness thing is a Republican myth. No such thing exists.

 

[RightField]

Worked before.



It's likely that the increase would be for far more than 70B a year. As I keep telling you using the 2010 and 2011 numbers isn't a good sample.

Unemployment is lower know than it was then so even left alone we'd pull in more in revenue this year than we did the years before. Iraq war is over and the Afghanistan war is coming to a close. Even if we did nothing spending would go down and thus decrease the deficiet.

There is little evidence that increasing capital gains taxes would make the money move any less efficiently. That's at best a Republican myth and at worst an outright lie. You can attempt to make a long term argument about there simply being less money in the hands of investors overall at the end of the day and try to make that stick but even that's a hard sell.

The last three years of the do nothing Congress have been annoying. They don't need to deflect though. Obama and the Democrats can proudly run on the record. Obamacare isn't perfect but it's a step in the right direction. The economy is improving and not one Republican candidate nor drone has stated what they would specifically have done differently and how it would have improved things over where we are now. The anti-bussiness thing is a Republican myth. No such thing exists.

"Do nothing" if you're a democrat in favor of raising taxes in a period of economic malaise....

However, if you believe that raising taxes significantly during a hard recession is a recipe for economic disaster, then the blocking done by the Republicans is worthy of great praise. Personally, I'm very glad that we voted enough Republicans in during the 2010 elections so that the democrats didn't have a free hand to completely destroy our country. I'm looking forward to the next elections when we can vote the democrats out who support these suicidal economic plans and put Republicans back in power who can help us get recover from the last several years of horribly bad democrat governance.

The CBO rated the Obama tax plans as worth $700B over 10 years, or about $70B a year which is probably overstated because people will quickly modify their behavior to minimize their tax liability.

There's a lot of evidence that increasing capital gains taxes significantly will retard the movement of money. When your tax bill increases by a factor of 2, it will effect financial decisions about selling, buying and profitability. Are you kidding?

 

[coastal-boy]

The last three years of democratic governance have been a nightmare and ...

Who has controlled the House for the last 1.5 years? So explain how this is "Democratic" issue when the 1/2 that controls the origination of all revenue bills is under "Republican" control?

 

[RightField]

Who has controlled the House for the last 1.5 years? So explain how this is "Democratic" issue when the 1/2 that controls the origination of all revenue bills is under "Republican" control?

When was the last time a Republican bill was passed by the Senate? The Republicans in the House have passed a bunch of bills, and virtually everyone was shelved by Harry Reid in the Senate.

There were a lot of democrat bills passed when the dems had supermajorities.

 

[phrodeau]

Do nothing if your a democrat in favor of raising taxes in a period of economic malaise....

However, if you believe that raising taxes significantly during a hard recession is a recipe for economic disaster, then the blocking done by the Republicans is worthy of great praise. Personally, I'm very glad that we voted enough Republicans in during the 2010 elections so that the democrats didn't have a free hand to completely destroy our country. I'm looking forward to the next elections when we can vote the democrats out who support these suicidal economic plans and put Republicans back in power who can help us get recover from the last several years of horribly bad democrat governance.

The CBO rated the Obama tax plans as worth $700B over 10 years, or about $70B a year which is probably overstated because people will quickly modify their behavior to minimize their tax liability.

I'm trying to see in your posts a good reason for putting Republicans back in power. Other than "Democrats bad", what have you got?

 

[coastal-boy]

When was the last time a Republican bill was passed by the Senate? The Republicans in the House have passed a bunch of bills, and virtually everyone was shelved by Harry Reid in the Senate.

There were a lot of democrat bills passed when the dems had supermajorities.

If any Republican Bill combined both cuts and increase of taxes for certain groups...like the Democratic Bills have which have been cut down by the House, maybe that wouldn't be an issue. It is called compromise.

 

[RightField]

I'm trying to see in your posts a good reason for putting Republicans back in power. Other than "Democrats bad", what have you got?

A 7am trip to the airport. G'dnite. Catch you in a couple days and I'll try to write something up. In general though, there are a number of plans being bantered about by several Republicans as part of the primaries.

They all involved reducing spending, reducing regulations, and trying to set up a stable environment that will encourage both small and large businesses to make investments again. A couple are talking about marginal tax rate reductions (based on the acceleration to the economy and tax revenues experienced in the other times we've tried it (Kennedy, Reagan, Bush), but not all of them. The one place where I'd be happy to see additional regulation is in the insider trading laws for Congress/administration officials and in efforts to reduce the runaway cronyism that we're seeing (because it warps investment from business/growth to inefficient and ineffective priorities).

I want to see incomes grow again and people have confidence in the future. This has to be done by bolstering our business and economy, not by vilifying it and adding more taxes on it.

 

[richard_daily]

If any Republican Bill combined both cuts and increase of taxes for certain groups...like the Democratic Bills have which have been cut down by the House, maybe that wouldn't be an issue. It is called compromise.

norquist won't allow republicans to raise any taxes... They're his servants.

 

[coastal-boy]

I want to see incomes grow again and people have confidence in the future. This has to be done by bolstering our business and economy, not by vilifying it and adding more taxes on it.

If vilifying is saying that I think a person that makes multiple millions pays half the effective rate as a person making $50K, then yea...OK.

 

[RightField]

There are two paths we can follow...the Obama/Democrat one or the Republican one. This is a good article that compares the two.

http://www.telegraph.co.uk/news/pol...-of-communism-have-still-not-been-learnt.html

 

[coastal-boy]

There are two paths we can follow...the Obama/Democrat one or the Republican one. This is a good article that compares the two.

http://www.telegraph.co.uk/news/pol...-of-communism-have-still-not-been-learnt.html

Actually...there are three and only one will work...the one where there is a combination of tax increases and massive cuts

 

[RightField]

If vilifying is saying that I think a person that makes multiple millions pays half the effective rate as a person making $50K, then yea...OK.

Well, there are a few of them who make big bucks. I'm glad that they live here and were able to amass the money in the first place with good ideas that have stimulated and spurred our economy. If we raise the taxes on them too much, they can easily find another place to live (Caymens?) and instead of getting another 10 or 20% from them, we'd get 0%.

I'm glad that I have the low rate of Cap gains too. I'm not a multi-millionaire, but I am trying to save enough money to retire on and paying taxes on the gains that I make on my investments at the 15% rate vs. the 30% rate means that I can save that much more and it grows. I think anyone who is trying to save for the future, save for their kids and save for their families will prefer the 15% rate. If a few (what are there 100,000 super rich?) benefit from it also, no skin off my back, there are many more people like me (millions upon millions) who are trying to save to be able to retire. Double the cap gains tax and it will make it that much harder for me to save adequately.

This is especially true because our need for more tax revenue is because spending has increased so radically under the democrats (from 18-20% of our GDP to 24-25% under Obama/Reid/Pelosi). We don't have a tax revenue problem as much as we have a spending problem (what good has all this extra the spending done?....can you tell me?). If we brought the spending down in line with 40 year historical averages, there'd be no need to increase taxes on anyone (except to pay down the new Debt that the dems have added in the last 5 years).

The bigger problem is the macroeconomic effect of radically increasing cap gains taxes....it will significantly retard the flow of capital (people would hold on to money longer so that they don't incur the tax - which is only levied at sale). Some economist have estimated that a dramatic rise in the cap gains tax would tip us into the depression that everyone is fearful of (in part because of the sudden slow-down in selling and buying as people strategized to avoid tax liability).

 

[RightField]

Actually...there are three and only one will work...the one where there is a combination of tax increases and massive cuts

Maybe you have enough confidence to pick the right plan and tell the rest of the nation to no longer worry about it or debate it because your plan is foolproof, but I'm not ready to pick one or the other. I'd like to hear more. I'd also like to see more detailed plans. While all these approaches look better than the democrat plan, I'd like to see more details on what regulations they'd reduce and how they'd shift the tax plan.

 

[coastal-boy]

After WW2, the rich paid insanely high taxes to pay for it. They didn't leave.

 

[coastal-boy]

Maybe you have enough confidence to pick the right plan and tell the rest of the nation to no longer worry about it or debate it because your plan is foolproof, but I'm not ready to pick one or the other. I'd like to hear more. I'd also like to see more detailed plans. While all these approaches look better than the democrat plan, I'd like to see more details on what regulations they'd reduce and how they'd shift the tax plan.

all people like you do is talk...talk talk talk talk. Sometimes, you need to take action. Go ahead and debate the "right" path. In the mean time, we could have had major cuts and increased taxes on the very rich, both of which could have helped. People like you are looking for the perfect plan. It doesn't exist. But what does exist are plans that are better than what we have. So why not implement them?