Boehner's big stretch on small business

[Ausm]

House Speaker John Boehner claimed that “small-business people” make up more than half of those who would be hit by a tax increase on “millionaires.” Not really. Only 13 percent of those making over $1 million get even as much as one-fourth of that income from small business, according to government tax experts.

Factcheck:

http://news.yahoo.com/-boehner’s-bi...xkZXN0aW5hdGlvbjIwMTIEcHQDc2VjdGlvbnM-;_ylv=3

Conclusion:

As we’ve always said, Republicans do have a point when they say raising individual tax rates results in raising taxes on business owners whose business income flows through to their personal returns. And standard economic theory holds that raising business taxes tends to dampen employment to some degree. But rather than stick to the facts, Boehner and other Republicans exaggerate greatly the number of employers who would be affected by raising taxes on upper-income individuals.

 

[Fear No Evil]

Ok, so raise taxes on them. We still have 1.4 trillion to make up. Now what?

 

[Ausm]

Are you dumb enough to think this is the only move Politicians will make to pay off the deficit or are you just ranting that the GOP talking points are bullshit?

 

[hal2kilo]

Are you dumb enough to think this is the only move Politicians will make to pay off the deficit or are you just ranting that the GOP talking points are bullshit?

Only people who fear no evil think that liberals/progressive think that raising taxes on the 1 to 2%ters will solve all our budget deficit problems.

Typical righties tactics.

 

[JeffreyLebowski]

Are you dumb enough to think this is the only move Politicians will make to pay off the deficit or are you just ranting that the GOP talking points are bullshit?

As many state time and time again. Revenue, or lack of revenue isn't the problem. Government spending is the problem. Raising taxes won't fix anything, all it will do is allow the governemnt to spend more.
Stop spending. Cut welfare programs, eliminate the redundant programs the Federal government has, draw down over seas military operations and bases. Actually have capable people working to stop the fraud and abuse of government programs like Medicare and medicaid. Cut the top government worker salaries by 20%, restructure retirement programs for government workers so they don't have the "cadillac" plans that the politicians rail against private employees having.

But for people like you, if you want it to be "fair", make the what is it almost 50% of wage earners that are currently not paying taxes, actually pay taxes.

 

[Fear No Evil]

If its not fixing the problem, why do it? Social justice?

 

[Ausm]

If its not fixing the problem, why do it? Social justice?

So ignore the debt problem totally because increasing taxes won't do the job?

 

[Fear No Evil]

So ignore the debt problem totally because increasing taxes won't do the job?

Raising taxes MASSIVELY won't come close to solving the problem, so again I ask, why do it unless you are trying to make some sort of social statement? By enacting taxes which will do nothing to solve the problem and likely only make it worse, is just liberal stupidity.

BTW - Was this the moveon.org talking point of the day?

 

[hal2kilo]

Raising taxes MASSIVELY won't come close to solving the problem, so again I ask, why do it unless you are trying to make some sort of social statement? By enacting taxes which will do nothing to solve the problem and likely only make it worse, is just liberal stupidity.

BTW - Was this the moveon.org talking point of the day?

New definition of massive .5%

 

[Thump553]

If Boehner really wanted to protect small businesses and "job creators" it's easy-just exempt all earned income from small businesses where the taxpayer is employed fulltime, is an equity owner and has personal liability. Make sure the definition excludes hedge funds and other wall street trader types and we are good to go.

Absolutely no excuse not to raise taxes on any other high income citizens as they have nothing to do with job creation.

 

[xBiffx]

If Boehner really wanted to protect small businesses and "job creators" it's easy-just exempt all earned income from small businesses where the taxpayer is employed fulltime, is an equity owner and has personal liability. Make sure the definition excludes hedge funds and other wall street trader types and we are good to go.

Absolutely no excuse not to raise taxes on any other high income citizens as they have nothing to do with job creation.

Except that, as has already been stated, this would do nothing to fix the problem. And, oh yeah, you think these people don't have the means to take all of that and leave anyways which means you end up with zero tax revenue. Talk about biting the hand that feeds you.

Great idea though.

 

[Ausm]

Except that, as has already been stated, this would do nothing to fix the problem. And, oh yeah, you think these people don't have the means to take all of that and leave anyways which means you end up with zero tax revenue. Talk about biting the hand that feeds you.

Great idea though.

So what you are saying is if the taxes on those people were raised it would not generate any revenue?

 

[xBiffx]

So what you are saying is if the taxes on those people were raised it would not generate any revenue?

Don't think I said that. But go ahead, think what you want.

 

[Ausm]

Don't think I said that. But go ahead, think what you want.

Why won't raising revenue help if it does generate cashflow then?

 

[xBiffx]

Why won't raising revenue help if it does generate cashflow then?

If you want to have a shortsided solution then go for it. Problem is, it doesn't fix the longterm problem but rather makes it worse. In the short term you will generate some revenue (still not enough though), but eventually that will dwindle as the higher earners you are taxing figure out how to either move away or just move their money where it can't get taxed. So in the end you still haven't fixed the problem and in the process you have sent good money packing.

 

[zsdersw]

Good luck cutting spending. The Big Three aren't called "third rails" for nothing.

 

[Ausm]

If you want to have a shortsided solution then go for it. Problem is, it doesn't fix the longterm problem but rather makes it worse. In the short term you will generate some revenue (still not enough though), but eventually that will dwindle as the higher earners you are taxing figure out how to either move away or just move their money where it can't get taxed. So in the end you still haven't fixed the problem and in the process you have sent good money packing.

So you advocate getting rid of all taxes then?

 

[Lithium381]

It likely will make it worse by raising taxes..... that's less money being spent in the economy. Taxes = welfare money spent on drugs = money sent to the Mexican economy.

 

[xBiffx]

So you advocate getting rid of all taxes then?

A nominal tax would be needed to run the elements of the government set out in the Constitution. As was the case before the 16th Amendement, this nominal tax was allocated to the federal government from the States, not from individuals. Seems we wouldn't have to worry about Thump's scenario if this were still the case.

 

[GuitarDaddy]

If its not fixing the problem, why do it? Social justice?

By your twisted logic since no single act will completely fix the problem we should do nothing? Thats your litmus test for solutions? If it doesn't completely solve the problem don't do it? You can't really be that dumb

 

[xBiffx]

By your twisted logic since no single act will completely fix the problem we should do nothing? Thats your litmus test for solutions? If it doesn't completely solve the problem don't do it? You can't really be that dumb

Actually I think the sentiment is not that we shouldn't do it if it doesn't just fix the problem but that we shouldn't do it if its just going to make things worse. Raising taxes on just the 1% does nothing or very little to fix the problem and eventually will make things worse as that money starts leaving.

 

[highland145]

Actually I think the sentiment is not that we shouldn't do it if it doesn't just fix the problem but that we shouldn't do it if its just going to make things worse. Raising taxes on just the 1% does nothing or very little to fix the problem and eventually will make things worse as that money starts leaving.

Similar to corps fleeing Cali?

 

[GuitarDaddy]

As many state time and time again. Revenue, or lack of revenue isn't the problem. Government spending is the problem. Raising taxes won't fix anything, all it will do is allow the governemnt to spend more.
Stop spending. Cut welfare programs, eliminate the redundant programs the Federal government has, draw down over seas military operations and bases. Actually have capable people working to stop the fraud and abuse of government programs like Medicare and medicaid. Cut the top government worker salaries by 20%, restructure retirement programs for government workers so they don't have the "cadillac" plans that the politicians rail against private employees having.

But for people like you, if you want it to be "fair", make the what is it almost 50% of wage earners that are currently not paying taxes, actually pay taxes.

Thats absolutely ignorant! Thats as ignorant as saying spending is not the problem, the problem is 100% a lack of revenue. We just need enough taxes to cover our spending.

Anyone with half a brain must understand that the solution has to be a combination of spending cuts and tax increases. Anyone who believes that spending cuts alone are all thats needed is too stupid to be included in the conversation.

Its fools like you and GWB that got us into this mess by cutting taxes without cutting spending in the first place.

 

[xBiffx]

Similar to corps fleeing Cali?

Similar to any rich person or successful business figuring out where to stick their money or take their business to avoid taxes.

 

[zsdersw]

Here's the problem...

No one who runs for political office does it knowing he/she will be serving only one term. To avoid being a one-term-only politician they have to do popular things. Entitlement cuts/reforms are about as unpopular as issues get.