You can read minds? So when the Republicans talk about closing loopholes and reforming the tax code. They are really saying they want to lower taxes. I think you need to reform your republican to insane left translator. It clearly isnt translating well for you.
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Obama caving in on Bush tax cuts for Top2%?
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You can read minds? So when the Republicans talk about closing loopholes and reforming the tax code. They are really saying they want to lower taxes. I think you need to reform your republican to insane left translator. It clearly isnt translating well for you.
Like I said your Reuglicant mind is a mystery.
Clearly you cant comprehend that having a 70% tax rate but not collecting on it because of loopholes is a worthless policy. So your opinion on this matter doesnt hold a lot of sway.
Clearly you enjoy overlooking the obvious which clearly makes you a dumbfuck but meh at least you are in true character! 😀
You'd think the left would figure this out. Lets hope Obama is smarter than the avg lefty within this thread. I think he is and will work with republicans to close loopholes to increase revenue. It is a win for him.
I dont even want to begin to understand what "obvious" is within your world.
You didnt answer my question from before. Are you lighting things on fire while you type?
nehalem256
Lifer
And a win for the American people :thumbsup:
techs
Lifer
We should care greatly. Its tax loopholes that allow a Mitt Romney to pay less than the middle class. Yet there is virtually no public debate or knowledge among the general public about tax loopholes when they are enacted.
On the other hand the tax rate going up is an issue people pay attention to and will be harder for them to change quietly.
Matt1970
Lifer
GIBSON: ...you would favor an increase in the capital gains tax. As a matter of fact, you said on CNBC, and I quote, "I certainly would not go above what existed under Bill Clinton," which was 28 percent. It's now 15 percent. That's almost a doubling, if you went to 28 percent.
But actually, Bill Clinton, in 1997, signed legislation that dropped the capital gains tax to 20 percent.
OBAMA: Right.
GIBSON: And George Bush has taken it down to 15 percent.
OBAMA: Right.
GIBSON: And in each instance, when the rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down.
So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected?
OBAMA: Well, Charlie, what I've said is that I would look at raising the capital gains tax for purposes of fairness.
But actually, Bill Clinton, in 1997, signed legislation that dropped the capital gains tax to 20 percent.
OBAMA: Right.
GIBSON: And George Bush has taken it down to 15 percent.
OBAMA: Right.
GIBSON: And in each instance, when the rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down.
So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected?
OBAMA: Well, Charlie, what I've said is that I would look at raising the capital gains tax for purposes of fairness.
I throw it right back at ya...where are your details on your rant that by your account I "misunderstood"?
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Why are you worried about the Capital gains rate when you obviously can't afford to pay attention?
Matt1970
Lifer
Awwww, that's cute, but almost every time we raise income tax rates, capital gains comes along for the ride.
Why are you against it? I would love to hear why!
Bowfinger
Lifer
I see Gibson is using one of the anti-tax crowd's most common and most deceptive talking points: "Oh look, we lowered tax rate X and yet revenue went up. See, that proves lowering taxes increases revenue!!!" It's quite persuasive to those who are gullible or inattentive.
The actual FACT is federal tax revenues increase almost every year -- after tax cuts, after tax increases, after no tax changes -- because of inflation and because America's economy continues to grow. The major exception was after Bush 43's tax cuts, which were followed with an unprecedented three-year drop in federal tax revenues. Other than that and a scattered handful of other anomalous years, America's federal tax revenues have climbed steadily year after year after year.
As he stated, lowering the Cap Gains rate has demonstrated benefit the economhy.
Do you feel that the reverse will hold true?
Is there evidence of such?
Do you feel that the reverse will hold true?
Is there evidence of such?
Bowfinger
Lifer
Lowering the capital gains rates creates an immediate -- and temporary -- revenue spike due to investors cashing out. Let's see evidence there is any sustained benefit, and be sure to exclude the normal growth of our economy that increases total revenues almost every year anyway.
sm625
Diamond Member
The absurdity of this so called debate is quite comical. This government literally borrows trillions of dollars and spends it, pumping up the bank accounts of the top 2% in the process. Then the bottom 98% has the nerve to follow right along, as the carrot gets dangled towards tax cuts. Hello? They were just given trillions of dollars. Who gives a damn about the tax rates when there is a "money printing rate" that doesnt even get discussed. The sheer idiocy of the electorate never fails to surpass its previous limit.
That is why I think obumma will get his top 1% tax increase. Because when you're just borrowing money and handing it over to the top 1%, who the hell cares if they have to give back 10, 20, 30, or even 60% of it? They got it for free! Duh. It is so unbelievable what people will let fly right past their heads.
That is why I think obumma will get his top 1% tax increase. Because when you're just borrowing money and handing it over to the top 1%, who the hell cares if they have to give back 10, 20, 30, or even 60% of it? They got it for free! Duh. It is so unbelievable what people will let fly right past their heads.
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Matt1970
Lifer
I would love to hear that too seeing as how I didn't say I was against it.
This is Autism we are talking about here. He cant be bothered to pay attention to threads he participates in and thinks people say things they dont.
You guys seem to have a comprehension problem.
I never stated that the Cap Gains..
I posted that the previous poster had stated such. Take you beef with him.
He laid out one side.
If you can not accept that; post the information that refutes such.
Bowfinger
Lifer
I already did. Neither of you addressed the information I presented. You did, however, ignore it and continue to cite his dishonest example. The simple fact is federal tax revenues increase almost every year, after tax increases and tax cuts alike. The most notable exception was three years of lowered revenues following Bush 43's big tax cuts. Those are the facts.
Incorruptible
Lifer
obama needs to get to the real issue, not taxing the rich but the spending problem
Entitlement and wars are the two biggest areas that need drastic cuts
Entitlement and wars are the two biggest areas that need drastic cuts
zinfamous
No Lifer
this. And it pretty much seems that Boehner and a very small niche of the fringe wacko Teabaggers are the only republicans not willing to give this edge to Obama right now.
In fact, Boehner actually suggested that he would finally be willing to compromise over this 2% thing.
At some point, facts and history do eventually trickle through the thickest of heads, and reason wins out. Well, one can only hope....
zinfamous
No Lifer
yes, because generating no revenue has always worked!
:hmm:
oh, wait, no it hasn't.
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