Robert Reich: Eliminate payroll taxes on first $20K of income. "The people's tax cut"

[Toastedlightly]

I agree that free market can have income disparity. What we need is a forced market. We need to use our military might to seize the natural resources in other countries and distribute it amongst ourselves.

That is one way to bring wealth back...


Unfortunately nobody else will be very happy with that...

 

[SammyJr]

I never said it was good for the people in the wealthier nation.

By the way, how the hell is what I said any part of any typical free market rant? I am saying that it takes moves wealth down the slope to poverty.

Do you have any legitimate statement regarding what I said?

You have posted pure Free Market Ideology. You believe that wealth moves down the slope. You believe that by the sacrifices of wealthy nations, 3rd world nations will gain wealth and become equal trading partners of the wealthy nations. This is belief.

The reality is that the wealthy are laughing at you and me all the way to the bank while the Chinese standard of living increases a little bit and Americans become dependent on social programs and in massive debt with nothing to trade.

 

[SammyJr]

That is one way to bring wealth back...


Unfortunately nobody else will be very happy with that...

Meh. Its no worse than praying to the Free Market Gods while jobs go overseas by the millions and the credit card debt climbs.

 

[SammyJr]

Are you ok with having society revert to the masses in poverty and a few extremely rich?

I have a suspicion that many people have the same mindset as a 13th century serf and have a desire to return to that time. Look at how so many are willing to be ruled by the church and have their economics dictated to them by the aristocracy.

 

[SammyJr]

I am guessing then that your definition of rich isn't Obama's definition of rich.

Obama's definition of the rich is way too low. "Rich" should start at $1 million/year in income. $200k is good money, but it isn't rich.

 

[Slew Foot]

loliberals.


The not taxing the first 20K is good, the bad is not cutting spending at the same time.

 

[soulcougher73]

You had me until you blamed it all on greed. I don't feel it is greed based system. It is a staying alive system. Only the fit survive while the others fade away. If being fit (not going under because someone produced your widget cheaper) is what it takes, I don't blame people for that.

Well i meant greed as in our system now with free/global trade. If we were not allowed to ship jobs and manufacturing to other countries businesses here in the US would be on an even playing ground labor wise outside of the high cost of living areas here in the US. They would have to come up with more innovative ways to cut costs then just on labor alone. For example Walmart has one of the most advanced distribution network out there. That alone im sure saves them millions because it is so efficient.

But when you are moving jobs overseas just because you want to exploit that cheap labor. That is greed in my eyes. Close down the global economy mentality and that problem will right itself.

Again all IMO.

 

[spidey07]

A payroll tax applied to incomes over $250,000 would affect only the portion of their income exceeding $250,000 each and would have the greatest effect on dual-income families with joint incomes significantly exceeding $500,000 - 15% each, only on the portion of each income that exceeds $250,000.

Oh, the Humanity!

Obama's tax increases are to eliminate the HCE cap on SS taxes so that all income is stolen for this purpose. And in ALL policies it's 200K for individuals, 250K for joint which is why this article is just a piece of obama cock sucking regurgitation of his stated economy destroying policies.

Add in the healthcare tax of 2%
Add in the increase in income tax

And you're looking at a marginal rate of well over 50%. The increase is actually more than 15%.

 

[soulcougher73]

It does all work out fine... for the world as a whole. Everyone will be more economically equal once an equilibrium is reached. We will have sacrificed our comfort in this world to help bring others out of the proverbial stone age.

I agree that this is the path we are on now. But i dont agree with it. I would rather those counties figure it out on their own or follow our example if they have to. I dont want us to have to regress in our comfort to reach an equalibriam. I would rather they strive to reach our comfort.

 

[Craig234]

I agree that free market can have income disparity. What we need is a forced market. We need to use our military might to seize the natural resources in other countries and distribute it amongst ourselves.

Idiot troll.

 

[Phokus]

I agree that free market can have income disparity. What we need is a forced market. We need to use our military might to seize the natural resources in other countries and distribute it amongst ourselves.

Like i said, conservatives are literally the worst people on the face of the planet. Lol @ Nick1985 trying to debate me on this point.

 

[Jadow]

how much do those rich give away in charity?

 

[manimal]

Is there an estimate what this tax cut will cost over a 10 year period? Its been a long day and I can barely read right now...

 

[xj0hnx]

Is there an estimate what this tax cut will cost over a 10 year period?

I've never understood how some people can consider the government not taking someone's money as a "cost", seems that means the assumption is that it's the governments money to begin with. No wonder liberals are so fucked up in the head.

 

[sandorski]

I've never understood how some people can consider the government not taking someone's money as a "cost", seems that means the assumption is that it's the governments money to begin with. No wonder liberals are so fucked up in the head.

Fail

 

[BoberFett]

I have a suspicion that many people have the same mindset as a 13th century serf and have a desire to return to that time. Look at how so many are willing to be ruled by the church and have their economics dictated to them by the aristocracy.

How is that different than the rank and file Democrat who have a desire to prop their Democrat overlords up in Washington DC while they get the table scraps back at home?

Government and big business are one in the same.

 

[LunarRay]

BUSH CUT TAXES FOR ALL PEOPLE WITH THE BIGGEST CUTS BEING POOR AND MIDDLE CLASS! How many times do we have to pound this fact over leftists lies?

But cut my SS/Medicare? Any tax cut is a good thing.

-edit-
"Democrats should propose eliminating payroll taxes on the first $20,000 of income, and making up the revenue loss by applying payroll taxes to incomes above $250,000."


OH HELL NO! Fuck that. That's like a super duper tax hike of about 15% and would cripple dual income families.

Here on Earth it don't work that way...
Payroll tax is based on the individual's earnings... not the combined earnings of a couple...

 

[Acanthus]

exchange rate

Competing with slavery, pre industrial age worker protections, no environmental laws, artificially low wages.

 

[Siddhartha]

Seems like a great idea, it'd be a boost in the arm to working class/middle class folks and Republicans would have to shut the hell up about it. Make those robber baron shills explain why every day average main street Americans shouldn't get a tax cut while wall street Americans should get all the benefits.

Instead of cutting taxes to the people whose wealth is growing at an exponential rate to everyone else's, we should give it to the people who are hurting the most and who make up the backbone of this country. And you instantly have more people spending money rather than having the rich hoard their money in savings. What a novel fucking idea.

http://robertreich.org/post/1004761998/tax-jujitsu-why-democrats-should-propose-a-peoples

I do not know if you can do it but it would be great if you could add a poll to this thread. I am curious where the forum's "conservatives, libertarians, tea partiers, etc" are on the idea of cutting taxes for the middle class or the wealthiest.

 

[CPA]

So we have all this talk about the lower effective tax rates. So what? If 1 person pays $1,000,000 in taxes (16% of their income) and another person pays $10,000 in taxes (20% of their income), does it matter that it is only 16% of the rich man's income?

He is paying 100 times more than someone else to recieve what should be similar services.

PS: I made up those rates, I don't know if they are true at all (just going off what Phokus says)

Apparently, to socialists like Phokus, it does. It doesn't matter that a huge population that make less than him have an effective tax rate of 0% or even are handed money. Nope, it only matters that the evil rich man who stole all the people's money paid 16% to his 17%.

 

[Hacp]

That is one way to bring wealth back...


Unfortunately nobody else will be very happy with that...

Well if we got for the weaker targets, it'll be easy. Canada is rich in resources and has like 4 F18s for an air force.

 

[Craig234]

how much do those rich give away in charity?

However much it is, they get a tax deduction, and it's different than the money to run society as decided by democracy, different things.

 

[spacejamz]

Your scenario has nothing to do with what we're talking about. I'm attacking HIS idea that it's ok for the rich to pay less as a percentage of his income just because he's paying more total.[/QUOTE

So you are saying we should have a flat tax?

 

[CallMeJoe]

Obama's tax increases are to eliminate the HCE cap on SS taxes so that all income is stolen for this purpose. And in ALL policies it's 200K for individuals, 250K for joint which is why this article is just a piece of obama cock sucking regurgitation of his stated economy destroying policies.
Add in the healthcare tax of 2%
Add in the increase in income tax
And you're looking at a marginal rate of well over 50%. The increase is actually more than 15%.

Try to focus, spidey. I realize it's difficult to read through the haze of Obama Dementia, so I'll try to make it easier: Payroll Taxes. Assessed on Individual Earnings.

 

[SammyJr]

this

buy this american made widget for 1.49 or this chinese made widget for .99

ironically, it's higher taxes that force many companies overseas

Wonder why so much movie production has been moved to Canada/Germany? big fat tax rebates to those evil corporations you hate so much.

And less expensive health care. The American health care system is a tremendous burden on the American worker's competitiveness.