Tax Cuts -- and why Congress is broken.

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Tax Cuts -- and why Congress is broken.

Post  Pez on Wed Sep 22, 2010 8:51 am

Since the more conservatives among us decided that Pelosi's reference to Obama's middle class tax cuts were actually the Bush Middle Class tax cuts (they aren't, would it kill you guys to read?), I thought it prudent to point out what I see as the complete hilarity in what tax cuts are whose, and what should expire and what shouldn't...

The Bush tax cuts (mostly on the rich) are about to expire, as are the Obama tax cuts (mostly On the middle class). Congress is entereing a battle right now where democrats want to let the Bush cuts expire but keep the Obama cuts. Republicans, strangely, want the Obama cuts to expire and keep the Bush cuts.

Republicans continually pay lip service to the idea that at the core of their values is the notion that they want to pay for lower taxes through a smaller (and thus less expensive) government. Somehow, this translates into Republicans in congress wanting to raise taxes on the middle class, so that they can keep taxes lower for the rich.

What ticks me off is that Pelosi is such a poor leader in the house that she either cant see the forest for the trees or she chooses not to. She and her counterparts could make ridiculous amounts of hay with the notion that republicans (who want less taxes, ostensibly) do not want less taxes for the middle class, but rather only for the rich.


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Re: Tax Cuts -- and why Congress is broken.

Post  Scooby01_98 on Wed Sep 22, 2010 11:55 am

Obama supposed tax cuts have expired. If you want to pay more go ahead no one is stopping you. Me I can find better things to spend my money on.
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Re: Tax Cuts -- and why Congress is broken.

Post  Pez on Wed Sep 22, 2010 12:07 pm

Scooby01_98 wrote:Obama supposed tax cuts have expired. If you want to pay more go ahead no one is stopping you. Me I can find better things to spend my money on.

I'm not sure what you are talking about, there were clearly tax cuts. I dont believe they have expired... will do some reading tho...

How can we think about cutting taxes at all? If we leave the Bush tax cuts in, it adds $700 billion to the national debt by 2020... If we leave the Obama cuts in it costs us $3 trillion by 2020... How is it we can manage the debt and two wars by spending 3.7 trillion?

Someone needs to stand up and say, "Hey, this is messed up, both parties over the past two decades have spent us into a hole that nearly collapsed our economy, here's a real solution to fix it"

European countries don't mess around, they implement austerity measures, raise the retirement age and raise taxes. We spend more... it's broken.

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Re: Tax Cuts -- and why Congress is broken.

Post  Cincy Fan 44 on Wed Sep 22, 2010 2:43 pm

Pez wrote:Someone needs to stand up and say, "Hey, this is messed up, both parties over the past two decades have spent us into a hole that nearly collapsed our economy, here's a real solution to fix it"
Not sure that they've offered the solution yet, but isn't that exactly what the Tea Party is doing?

Problem is like you said, both parties are guilty of getting us where we are today. While a lot of spending could be cut if they would do away with some of the special programs that are out there, there would be an uproar from every one of those groups about why their program shouldn't be cut.

Life isn't fair though...

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Re: Tax Cuts -- and why Congress is broken.

Post  Scooby01_98 on Wed Sep 22, 2010 3:00 pm

Pez wrote:
Scooby01_98 wrote:Obama supposed tax cuts have expired. If you want to pay more go ahead no one is stopping you. Me I can find better things to spend my money on.

I'm not sure what you are talking about, there were clearly tax cuts. I dont believe they have expired... will do some reading tho...

How can we think about cutting taxes at all? If we leave the Bush tax cuts in, it adds $700 billion to the national debt by 2020... If we leave the Obama cuts in it costs us $3 trillion by 2020... How is it we can manage the debt and two wars by spending 3.7 trillion?

Someone needs to stand up and say, "Hey, this is messed up, both parties over the past two decades have spent us into a hole that nearly collapsed our economy, here's a real solution to fix it"

European countries don't mess around, they implement austerity measures, raise the retirement age and raise taxes. We spend more... it's broken.

#1 tax cuts don't cost the government nothing. It just reduces the amount of tax revenue (although tax revenue does increase with lower taxes). Therefore government should budget less money to be spend (novel ideal). Yet Peloski and Reid just want to spend more. That last 26 billion stimulus for teachers. You remember how they paid for that? Against 2014 food stamp program, thats right 2014, you think people will remember that? You really think they are going to cut the food stamp program by 26 Billion? Plleeaasssseeee

Now you say the wars are not paid for, yet the deficit for the Bush years were only a third of Obama's deficit(what the worse Bush deficit was 400 billion) Obama covers all of Bush's deficit and he is only been in 2 years. Plus projections are for trillion plus the next 2 years. Plus during Bush's administration there was a Democratic house the last 4 years and democratic Senate for 2 years trying there hardest to spend even more.

Doing everything they could to kill the housing market (which they succeeded) by thinking everyone should own a house whether they could pay for it or not.

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