CNN Breaking News - Senate passes $350billion tax cut by 51-50

[conjur]

Vice President Cheney cast the tie-breaking vote.

 

[Fencer128]

That was close.

Andy

 

[conjur]

Can't get any closer. And that means some Reps voted against it.

I'm not real fond of the tax cut, myself, esp. considering the growing yearly deficit and the lackluster stock market performance of late.

Just not a real bright idea.

 

[phillyTIM]

its a joke

they're already talking about raising taxes to cover this tax cut

spending us more into the hole will hurt us more in the long run

polls show (source: nbc news) that the majority of americans favor actions other than a tax cut

 

[Lucky]

good deal. not only does it accelerate across the board tax cuts, but it also get rids of the marriage penalty, increases the child credit, helps small business, give states $20B in AID, and cuts capital gains and dividend rates.

way to go bush. :sun:

 

[Medellon]

Whenever I have more money in my pocket that's a good thing.

 

[conjur]

Originally posted by: Lucky
good deal. not only does it accelerate across the board tax cuts, but it also get rids of the marriage penalty, increases the child credit, helps small business, give states $20B in AID, and cuts capital gains and dividend rates.

way to go bush. :sun:

Figures...the year my divorce is final and my sole proprietorship went under.

 

[SuperTool]

Originally posted by: Lucky
good deal. not only does it accelerate across the board tax cuts, but it also get rids of the marriage penalty, increases the child credit, helps small business, give states $20B in AID, and cuts capital gains and dividend rates.

way to go bush. :sun:

You say it like he is giving you his money. He is just borrowing money on your behalf and giving it to your. You'll be on the hook for the debt and the interest.

 

[BDawg]

Awfully sad when your party has a majority in the Senate, yet you still need the VP to cast a vote.

The Democratic spin should be, "this budget is so bad that even their own people voted against it."

 

[CPA]

Originally posted by: BDawg
Awfully sad when your party has a majority in the Senate, yet you still need the VP to cast a vote.

The Democratic spin should be, "this budget is so bad that even their own people voted against it."

The problem is you have a few Demicans in the Senate, Olympia Snow, being one of them.


Hey, and like a few others have said, I always like it when I get more of my money back. 4 kids x $400 = a nice check this summer!

 

[Crimson]

God you people are annoying.. First of all, we don't "pay" for tax cuts.. the government is simply choosing to take in a smaller percentage of your incoming. Its also not a 1 for 1 relationship, if they cut 350 billion in taxes, it doesn't mean that the amount of taxes they bring in will be 350 billion dollars less. You people make it sound like if you get a $300.00 tax cut, you put the money under your matress and forget about it. You don't, you got spend it, which generates a sales tax, which gives a salesman a profit, which he goes out and spends and pays income tax on.. etc. etc. etc.. All of which results in a better economy which results in more revenue being brought in by the government. There is a reason why spending increased under Reagan, because his tax cuts caused such a huge economic boom that tons more revenue poured in.

Also, what you communis... I mean liberals think is that there is no other way to cut the deficit.. HELLO... Here, let me spell it out for you:

C U T S P E N D I N G

Why are tax increases the only answer? If you are $20,000 in credit card debt, would the only solution to your problem be to get a raise? No.. you could cut some of your bills down by eliminating things you don't NEED. Don't even TRY to tell me the government isn't wasting 350 billion.

If you liberals would spend a 1/10th of the energy fighting for spending cuts as you do for tax increases, the result would be the same. And do you honestly think that if the government raised taxes that it would go to cut the deficit? Get real, you liberals haven't found a social program you didn't like yet..

Besides, its MY MONEY.. you don't get to decide what happens with my money. If you feel you are paying too little in taxes, feel free to donate more of your salary to the government... I am sure they will appreciate it.

 

[CPA]

Originally posted by: Crimson
God you people are annoying.. First of all, we don't "pay" for tax cuts.. the government is simply choosing to take in a smaller percentage of your incoming. Its also not a 1 for 1 relationship, if they cut 350 billion in taxes, it doesn't mean that the amount of taxes they bring in will be 350 billion dollars less. You people make it sound like if you get a $300.00 tax cut, you put the money under your matress and forget about it. You don't, you got spend it, which generates a sales tax, which gives a salesman a profit, which he goes out and spends and pays income tax on.. etc. etc. etc.. All of which results in a better economy which results in more revenue being brought in by the government. There is a reason why spending increased under Reagan, because his tax cuts caused such a huge economic boom that tons more revenue poured in.

Also, what you communis... I mean liberals think is that there is no other way to cut the deficit.. HELLO... Here, let me spell it out for you:

C U T S P E N D I N G

Why are tax increases the only answer? If you are $20,000 in credit card debt, would the only solution to your problem be to get a raise? No.. you could cut some of your bills down by eliminating things you don't NEED. Don't even TRY to tell me the government isn't wasting 350 billion.

If you liberals would spend a 1/10th of the energy fighting for spending cuts as you do for tax increases, the result would be the same. And do you honestly think that if the government raised taxes that it would go to cut the deficit? Get real, you liberals haven't found a social program you didn't like yet..

Besides, its MY MONEY.. you don't get to decide what happens with my money. If you feel you are paying too little in taxes, feel free to donate more of your salary to the government... I am sure they will appreciate it.

Well said, but get ready with the flame retardent suit.

 

[Crimson]

Originally posted by: BDawg
Awfully sad when your party has a majority in the Senate, yet you still need the VP to cast a vote.

The Democratic spin should be, "this budget is so bad that even their own people voted against it."

I think the spin should be democrats feel they are entitled to your money more than you are. Besides, how many votes did Al Gore cast the deciding vote in? I can think of several offhand. When the senate is split as closely as it is, of course the voting will be close.

You could also spin it as the republicans are nearly unanimous in support of this bill.. 2-3 senators going the other way is about 5% of the total # of Republicans.. so 95% of Republicans support this bill and you want to spin it to mean they don't? OKAY!

 

[jahawkin]

You don't, you got spend it, which generates a sales tax, which gives a salesman a profit, which he goes out and spends and pays income tax on.. etc. etc. etc.. All of which results in a better economy which results in more revenue being brought in by the government. There is a reason why spending increased under Reagan, because his tax cuts caused such a huge economic boom that tons more revenue poured in.

Trickle down economics as practiced by Reagan and now Bush have been discredited thoroughly. The spending from Reagan resulted in huge deficits, much like the result of Bush's first tax cut. Funny how the economy and the government did pretty well after Clinton passed a tax increase.

 

[43st]

C U T S P E N D I N G

That term doesn't exist in Conservative government. They call it "deficit spending".

 

[BDawg]

Originally posted by: Thera

C U T S P E N D I N G

That term doesn't exist in Conservative government. They call it "deficit spending".

Exactly, the Republicans have increased spending more than any Democrat ever has. They just give money back to the people while going into debt to make up for the difference.

 

[Wheezer]

Besides, its MY MONEY.. you don't get to decide what happens with my money. If you feel you are paying too little in taxes, feel free to donate more of your salary to the government... I am sure they will appreciate it.

Exactly...if all the people who are against this tax cut would put in my share of income tax out of thier pay that is more than fine with me.

Because I will go spend some of that extra money, and some I will save..so feel free. I have been wanting a new AIW 9700 pro and this sounds like a perfect way to get it.

 

[charrison]

Originally posted by: BDawg
Awfully sad when your party has a majority in the Senate, yet you still need the VP to cast a vote.

The Democratic spin should be, "this budget is so bad that even their own people voted against it."

Kinda like when Al Gore had to cost the deciding vote to raise taxes in the 90s?

 

[CADsortaGUY]

Hmm, growth rate to see a jump

I guess the outlook is still bleak

CkG

 

[charrison]

Originally posted by: Wheezer

Besides, its MY MONEY.. you don't get to decide what happens with my money. If you feel you are paying too little in taxes, feel free to donate more of your salary to the government... I am sure they will appreciate it.

Exactly...if all the people who are against this tax cut would put in my share of income tax out of thier pay that is more than fine with me.

Because I will go spend some of that extra money, and some I will save..so feel free. I have been wanting a new AIW 9700 pro and this sounds like a perfect way to get it.

Actually there is PO box setup if you want to make payments to the national debt. I wonder how often it is used.

 

[Zebo]

Pay me now or pay me later, but you will pay. Unfortuatly the people with real weath will be in swizterland when the bill comes due. .

Read an article in Forbes about 60,000 rich americans exparioted last year vs. 900 in 1981. If you're not a citizen you don't pay anytaxes on you stock dividens and other capital gains. Also they said droves of companies are moving their "incorporation" to the bahamas to avoid taxes entirely. God Bless America.

 

[charrison]

Originally posted by: Carbonyl
Pay me now or pay me later, but you will pay. Unfortuatly the people with real weath will be in swizterland when the bill comes due. .

Read an article in Forbes about 60,000 rich americans exparioted last year vs. 900 in 1981. If you're not a citizen you don't pay anytaxes on you stock dividens and other capital gains. Also they said droves of companies are moving their "incorporation" to the bahamas to avoid taxes entirely. God Bless America.

That says something about our corperate regulations and tax structure on the wealthy.
How much can you soak the rich before they leave? After all they are the ones with the means to leave.

 

[Zebo]

Originally posted by: charrison

Originally posted by: Carbonyl
Pay me now or pay me later, but you will pay. Unfortuatly the people with real weath will be in swizterland when the bill comes due. .

Read an article in Forbes about 60,000 rich americans exparioted last year vs. 900 in 1981. If you're not a citizen you don't pay anytaxes on you stock dividens and other capital gains. Also they said droves of companies are moving their "incorporation" to the bahamas to avoid taxes entirely. God Bless America.

That says something about our corperate regulations and tax structure on the wealthy.
How much can you soak the rich before they leave? After all they are the ones with the means to leave.

No what it says to me is they took advantage of the society and regulations built for them to succeed (universal education, highly developed infrastucture, Government gauranteed business loans, fairness and regulations to insure compitition so they could make thier money, etc, etc) and are now just bailing on thier responsiblities to society when they made thiers so to speak. This country is being debased by the greed and will meet the same fate as Places like angola etc where business intrests and the rich rule all.

Fortunatly I have a back door into Sweden

 

[BDawg]

Originally posted by: charrison

Originally posted by: BDawg
Awfully sad when your party has a majority in the Senate, yet you still need the VP to cast a vote.

The Democratic spin should be, "this budget is so bad that even their own people voted against it."

Kinda like when Al Gore had to cost the deciding vote to raise taxes in the 90s?

Being a Senator is all about popularity. Raising taxes is never a popular mood, just like giving your child medicine isn't what he woud want. But, sometimes you need to.

 

[charrison]

Originally posted by: BDawg

Originally posted by: charrison

Originally posted by: BDawg
Awfully sad when your party has a majority in the Senate, yet you still need the VP to cast a vote.

The Democratic spin should be, "this budget is so bad that even their own people voted against it."

Kinda like when Al Gore had to cost the deciding vote to raise taxes in the 90s?

Being a Senator is all about popularity. Raising taxes is never a popular mood, just like giving your child medicine isn't what he woud want. But, sometimes you need to.

But you forget cutting taxes can be the same needed medicine.