Reagan Budget director wants higher taxes on the Rich

[sMiLeYz]

http://www.youtube.com/watch?v=tevt8_91_8w

CLIFFS:

– We need “a higher tax burden on the upper income.”

– “After 1985, the Republican Party adopted the idea that tax cuts can solve the whole problem, and that therefore in the future, deficits didn’t matter and tax cuts would be the solution of first, second, and third resort.”

– The 2001 Bush tax cut “was totally not needed.”

– On claims that Reagan proved tax cuts lead to higher government revenues: “Reagan proved nothing of the kind and yet that became the mantra and it just led the Republican Party away from its traditional sound money, fiscal restraint.”

– Former Vice President Cheney “should have known better” than claim the Bush tax cuts would pay for themselves.

– “I’ll never forgive the Bush administration and Paulson for basically destroying the last vestige of fiscal responsibility that we had in the Republican Party. After that, I don’t know how we ever make the tough choices.”

 

[senseamp]

This country's financial bankruptcy will come from Republican party's moral bankruptcy.

 

[Schadenfroh]

All income levels should have higher taxes as long as the deficit is so high.

If everyone's taxes went up, they would demand less government services / spending.

Ahh, wishful thinking...

 

[Vette73]

All income levels should have higher taxes as long as the deficit is so high.

If everyone's taxes went up, they would demand less government services / spending.

Ahh, wishful thinking...

ha yea wishful thinking.

Everybody, poor and rich, want a free lunch.


Oh and in before "RINO!!!" comments.

 

[Throckmorton]

It says here he wants to raise taxes on everybody http://www.cbsnews.com/stories/2010/10/28/60minutes/main6999906.shtml

 

[manimal]

trickle does not work...film at 11...

 

[Throckmorton]

All income levels should have higher taxes as long as the deficit is so high.

If everyone's taxes went up, they would demand less government services / spending.

Ahh, wishful thinking...

How about making SS and Medicare not regressive? How about making everybody pay the same percentage? Remove the cap.

 

[PokerGuy]

All income levels should have higher taxes as long as the deficit is so high.

If everyone's taxes went up, they would demand less government services / spending.

Ahh, wishful thinking...

What you're asking for is a real pay as you go setup, which, IMO is a must have to get us out of this mess. If people have to pay for stuff or figure out where to cut from instead of just whipping out a credit card (the government equivalent, borrow from China), they'd have more of an incentive to reduce government.

 

[PokerGuy]

The guy was an idiot then, he's even more of an idiot now. Yawn.

 

[Throckmorton]

It says here he wants to raise everybody's taxes http://www.cbsnews.com/stories/2010/10/28/60minutes/main6999906.shtml

 

[sMiLeYz]

He basically says to do away with Bush Tax cuts, I would agree and it would definitely affect me.

 

[cubby1223]

How about making SS and Medicare not regressive? How about making everybody pay the same percentage? Remove the cap.

By that logic, near everything is "regressive". Homes are regressive. Vehicles / transportation is regressive. Food is regressive. Clothing is regressive. Entertainment is regressive. Hell the post office is a regressive program. We must fix all of this to make the world a fair place!

 

[cubby1223]

What you're asking for is a real pay as you go setup, which, IMO is a must have to get us out of this mess. If people have to pay for stuff or figure out where to cut from instead of just whipping out a credit card (the government equivalent, borrow from China), they'd have more of an incentive to reduce government.

Too large a portion of this country still is growing into the mindset "We can have everything we want, while someone else pays for it!"

What is needed to pull that off, is when taxes are raised, or lowered, the changes hit every tax bracket. So you can't tax the rich without your own taxes going up too. I'll at least concede to the "progressives" that it can be progressive adjustments, just so at the end either they all go up together, or they all go down together.

 

[IHateMyJob2004]

The guy was an idiot then, he's even more of an idiot now. Yawn.

So boring huh. OK, add more detail beyond ... he's stupid and yawn please.

 

[Throckmorton]

By that logic, near everything is "regressive". Homes are regressive. Vehicles / transportation is regressive. Food is regressive. Clothing is regressive. Entertainment is regressive. Hell the post office is a regressive program. We must fix all of this to make the world a fair place!

Yes, those things are regressive. Why should taxes be regressive?

 

[CallMeJoe]

trickle does not work...film at 11...

:thumbsup:

This is old "news". David Stockman admitted long ago that Reaganomics was a sham, and that it wasn't "wealth" trickling down on the middle class.

 

[sMiLeYz]

The guy was an idiot then, he's even more of an idiot now. Yawn.

Very convincing argument, your point is noted.

 

[Jadow]

How about making SS and Medicare not regressive? How about making everybody pay the same percentage? Remove the cap.

If you remove the cap on taxes, will you also remove the cap on benefits? So people will start getting hundreds of thousands a year in SS payments?

Their benefit is capped as well as their tax

 

[Zebo]

Old right were good men. Eisenhower actually raised taxes with a republican house and senate to a whooping 92% on multimillionaires and it included capital gains!! To pay off war debt and rebuild Europe and Japan and build our nation sacrifice was required. Today it's me me me. We'll have collective intelligence and infrastructure of Haiti I have no doubt in 10 -20 years. We'll have our billionaires like all low tax havens have and everyone else in misery and destitution with little opportunity. Unless it's policing for and protecting the billionaires. You always have to have about 5% lackeys in societies like that.

 

[sMiLeYz]

Old right were good men. Eisenhower actually raised taxes with a republican house and senate to a whooping 92% on multimillionaires and it included capital gains!! To pay off war debt and rebuild Europe and Japan and build our nation sacrifice was required. Today it's me me me. We'll have collective intelligence and infrastructure of Haiti I have no doubt in 10 -20 years. We'll have our billionaires like all low tax havens have and everyone else in misery and destitution with little opportunity. Unless it's policing for and protecting the billionaires. You always have to have about 5% lackeys in societies like that.

Einshower would have been branded a liberal socialist for constructing the Interstate Super highway.

 

[Zebo]

Einshower would have been branded a liberal socialist for constructing the Interstate Super highway.

This Republican piece of legislation allowed the building of the largest road infrastructure on the planet. Forget about massive union workforce that got to send their kids to college who built it, it allowed trillions to be made in agriculture, tourism, auto industry, etc

People require investment for success. Everyone knows this.

Especially the rich which is what keeps schools like 45K a year Phillips Academy in business. They just don't want you to have it.


Very short sighted IMO - you don't build empires and great countries with a bunch of hoarders. You end up like so many places instead - a few billionaires who own all and law does not apply to them and misery and destitution for masses. It's not a zero sum game.

Actually two pieces (Federal Highway Act of 1954 and Interstate Highway Act of 1956)

 

[Zebo]

That said even Dems are right wing economically. It seems to be the fever of me in this country so I really think we are headed for third world by failing to recognize lessons of old and country that was given to us through ancestors sacrifice. If you read the fourth turning this is normal.

 

[Ancalagon44]

:thumbsup:

This is old "news". David Stockman admitted long ago that Reaganomics was a sham, and that it wasn't "wealth" trickling down on the middle class.

Yup, it was warm urine.

 

[ebaycj]

Yup, it was warm urine.

You sure it wasn't extra-liquid diarrhea?