120 days to go until the largest tax hikes in US history..

[HCICICIC]

@ niggas praising a tax increase in the middle of a depression.

 

[SaKem]

@ niggas praising a tax increase in the middle of a depression.

dummys

 

[Ryokurin]

We couldn't afford the cuts when we got them. If anyone has an idea on how to pay for what we need now and not cut taxes I'm all ears because no one has come up with anything other than the standard cut government waste. How about using acceptable accounting practices and make sure everything is paid for before pushing it.

 

[HCICICIC]

We couldn't afford the cuts when we got them. If anyone has an idea on how to pay for what we need now and not cut taxes .

This simp ass nigga thinks he's part of the "we" with a half white man in office.

 

[Ryokurin]

we as in Americans. Either way you are going to pay for it. Anyhow, whos the simp when you are concerned about losing a tax cut you probably didn't get in the first place.

 

[Darrkman]

@ niggas praising a tax increase in the middle of a depression.

So here is a question. If we keep the current tax cuts that benefit only the top 2% of the population how does that HELP with the recession? It seems we got to a recession WITH the cuts. Also its been proven that the deficit was the biggest reason for the increase to the deficit...more than even us fighting a war on 2 fronts.

This article sums it up nicely. Here are a few excerpts:

The "Bush tax cuts," passed in 2001 and 2003, remain the single largest cause of America's structural deficit -- that is, the deficit not caused by the collapse in tax revenue when the economy goes into recession. The Bush administration inherited budget surpluses from the Clinton administration. What turned these into deficits, even before the recession? There were three fundamental new costs: the tax cuts, the Medicare prescription-drug bill and post-9/11 security spending (including the wars in Iraq and Afghanistan). Of these the tax cuts were by far the largest, adding up to $2.3 trillion over 10 years. According to the Congressional Budget Office, nearly half the cost of all legislation enacted from 2001 to 2007 can be attributed to the tax cuts.

In any event, if timing is the issue, Congress could extend all the tax cuts for a year but then let them expire. Better yet, spend money on far more efficient ways to spur job creation, such as tax credits for jobs, which the Congressional Budget Office estimates would create four to six times as many jobs as would tax cuts.

http://www.washingtonpost.com/wp-dyn/content/article/2010/08/01/AR2010080103287.html

 

[fourth_retired]

raising taxes when theres an economic recession isn't wise. But if it happens it happens.

 

[Darrkman]

Here is another piece on the same subject:

What’s at stake here? According to the nonpartisan Tax Policy Center, making all of the Bush tax cuts permanent, as opposed to following the Obama proposal, would cost the federal government $680 billion in revenue over the next 10 years. For the sake of comparison, it took months of hard negotiations to get Congressional approval for a mere $26 billion in desperately needed aid to state and local governments.

And where would this $680 billion go? Nearly all of it would go to the richest 1 percent of Americans, people with incomes of more than $500,000 a year. But that’s the least of it: the policy center’s estimates say that the majority of the tax cuts would go to the richest one-tenth of 1 percent. Take a group of 1,000 randomly selected Americans, and pick the one with the highest income; he’s going to get the majority of that group’s tax break. And the average tax break for those lucky few — the poorest members of the group have annual incomes of more than $2 million, and the average member makes more than $7 million a year — would be $3 million over the course of the next decade.

So, for example, we’re told that it’s all about helping small business; but only a tiny fraction of small-business owners would receive any tax break at all. And how many small-business owners do you know making several million a year?

Or we’re told that it’s about helping the economy recover. But it’s hard to think of a less cost-effective way to help the economy than giving money to people who already have plenty, and aren’t likely to spend a windfall.

No, this has nothing to do with sound economic policy. Instead, as I said, it’s about a dysfunctional and corrupt political culture, in which Congress won’t take action to revive the economy, pleads poverty when it comes to protecting the jobs of schoolteachers and firefighters, but declares cost no object when it comes to sparing the already wealthy even the slightest financial inconvenience.

http://www.nytimes.com/2010/08/23/opinion/23krugman.html

 

[gene cisco]

Bush the rocket scientists that waged TWO WARS and CUT TAXES at the same time. Who the fuck does that shit?

Didn't Lincoln have to create an income tax to pay for the civil war? Bush launches TWO wars and cuts taxes.

Not that I am for taxes or the bullshit wars. Government seriously has to cut spending. I believe we are taxed too much, but Bush made a mess.

 

[Darrkman]

Bush the rocket scientists that waged TWO WARS and CUT TAXES at the same time. Who the fuck does that shit?

Didn't Lincoln have to create an income tax to pay for the civil war? Bush launches TWO wars and cuts taxes.

Not that I am for taxes or the bullshit wars. Government seriously has to cut spending. I believe we are taxed too much, but Bush made a mess.

Historically damn near every war fought by the US was funded with the help of War Bonds. Notice the Bush Administration didn't think we needed it. So fiscally responsible of them.

http://en.wikipedia.org/wiki/War_bond

 

[unknownsoldier]

Dumbasses talk about Clinton tax rates when the unemployment rate was 5.6%...... Lower under Bush at 4.3% (both are averages)... So, at 9.7% right now, the highest rate since the depression, we raise taxes. Makes sense.

YOU JUST HAD close to 10 years of cut taxes, and still DID NOT put any of that saved money into small business development and JOB CREATION.
If you did we wouldn't have the unemployment crisis you see now! These cock-face Republicans if they get their way, still want to cut everything else JUST TO GIVE MORE TAX CUTS FOR THE RICH. This is a redistribution of wealth, but NOT from rich to poor, but from POOR and MIDDLE CLASS to the RICH!

If you can't win based on the merits of your arguments, you lie,and deceive without any shame.

 

[LordSinister]

Bush the rocket scientists that waged TWO WARS and CUT TAXES at the same time. Who the fuck does that shit?

Didn't Lincoln have to create an income tax to pay for the civil war? Bush launches TWO wars and cuts taxes.

Not that I am for taxes or the bullshit wars. Government seriously has to cut spending. I believe we are taxed too much, but Bush made a mess.

Now will this 15 day faggot shut up?

 

[trstar]

Take this bullshit thread elsewhere.

 

[Nzinga]

I agree that the unemployment level were low at this those times, and I also agree we shouldn't be paying higher taxes at this time in history, but we are feeling the effects left from Bush who continued the plans enacted by Clinton.People should really stop throwing blame when the have no idea about the sources of the blames...the American people allowing this! Now it gets further convoluted by racism and ignorance instead of us banding together to do something about this.

Bush did not continue the plans left by Clinton... You are trying to absolve Bush for the mess he made by passing it to Clinton. The fact of the matter is that Bush cut taxes for the wealthy, and drove the economy into recession. Clinton increased the prosperity of all; Obama stopped Bush policies from driving the economy into a ditch..

 

[RAY V.]

the obama administration need to start handing this out to the republican cac's
and the tea-partiers when it comes to that straight clown GWB !

 

[Retired Mizer]

corpoarations are taking advantage of the economy by cutting the work force and trying to increase worker productivity with the same pay. Its funny, we bailed out the banks but in return they cancel our credit cards and raised our interest rates.

============================================================

...and they also create jobs where it is more economically beneficial FOR THEM: Overseas. They are not loyal to Americans. Corporations are not loyal to anyone or anything except their shareholders, yet the Republicans view them as the cure for all that fails us as a country .

 

[Retired Mizer]

dummys

===========================================================

Good Ole SucKem


Come take your rightful shoe shine seat with these champion SHOE SHINERS, TOM!

"Ol Brownie's doing a helluva job"






"What's the matter Boss WE SICK???"

 

[water]

corporations are taking advantage of the economy by cutting the work force and trying to increase worker productivity with the same pay. Its funny, we bailed out the banks but in return they cancel our credit cards and raised our interest rates.

 

[HeathCliff]

============================================================

...and they also create jobs where it is more economically beneficial FOR THEM: Overseas. They are not loyal to Americans. Corporations are not loyal to anyone or anything except their shareholders, .

Hell! and sometimes they're not even loyal to them. Just ask K-Mart and Washington Mutual.

 

[crossovernegro]

Don't you remember man.... Iraqi oil was gonna pay for at least that war.


As for the tax cuts; I was hearing yesterday (might have been robert reich referring to a CBO report, but don't quote me on that) that possibly extending the cuts through 2011 would be good, but beyond that would be really bad.... maybe they'll try that and give both sides something to take as a win.

Historically damn near every war fought by the US was funded with the help of War Bonds. Notice the Bush Administration didn't think we needed it. So fiscally responsible of them.

http://en.wikipedia.org/wiki/War_bond

 

[Drayonis]

This simp as

​

s nigga thinks he's part of the "we" with a half white man in office.

You're white on a black board calling black men "Nigga". Mods are ya'll going to eradicate this bastard or what?

 

[ghoststrike]

The Heritage Foundation? Really? The same organization that Hannity/Limbaugh/Fixed News promotes and gets their "balanced" research data from?

GTFOH, dude

 

[Damn Right]

Post something that is wrong about the article, I work for the IRS and can tell you it's all 100% true.

oh, u work for the irs, huh?

FUK outta here. on top of that? 'obamacare' doesn't 'tax' anybody. u pay a FEE if u don't already have healthcare and u STILL don't wanna get it. and that 'biggest tax in history' is so bullsheit that it ain't even worth commenting on at all.

now where's your post about president obama shooting out the largest tax CUT for the middle class since the 1950s? where's that post thanking him for that sheit?

 

[Damn Right]

dummys

YOU will not see a tax increase. trust this. we both know you don't make over $200,000 per year

 

[Hey Julian!]

2010

Tax Bracket Single Married Filing Jointly
10% Bracket $0 – $8,375 $0 – $16,750
15% Bracket $8,375 – $34,000 $16,750 – $68,000
25% Bracket $34,000 – $82,400 $68,000 – $137,300
28% Bracket $82,400 – $171,850 $137,300 – $209,250
33% Bracket $171,850 – $373,650 $209,250 – $373,650
35% Bracket $373,650+ $373,650+

You decide, I'm fine with it the hike. For me making about 40K a year, I'll get an increase of $1000 a year in taxes or about $18 a week. I'm far from balling, but this isnt gonna hurt the average person.

2011 increases
- The 10% bracket rises to an expanded 15%

- The 25% bracket rises to 28%

- The 28% bracket rises to 31%

- The 33% bracket rises to 36%

- The 35% bracket rises to 39.6%

 

[HeathCliff]

2011 increases
- The 10% bracket rises to an expanded 15%

- The 25% bracket rises to 28%

- The 28% bracket rises to 31%

- The 33% bracket rises to 36%

- The 35% bracket rises to 39.6%

Looks exactly like the Omnibus Budget Reconciliation Act of 1993 if you ask me.

 

[Hey Julian!]

Looks exactly like the Omnibus Budget Reconciliation Act of 1993 if you ask me.

It is to my knowledge, I don't think Omnibus had an expiration date for those increases so, letting the current rates expire is essentially taking us back to the the '93 rates.

 

[Big Tex]

Everybody's taxes are going up. Plus small business taxes are going up, plus exemptions being cut, plus investment taxes. Wtf are you talking about?

Read dude, get off Fox news...


http://www.politicsdaily.com/2010/07/29/battle-looming-over-bush-tax-cuts-what-it-means-to-you/

In general, Democrats say they want to extend nine-tenths of these tax cuts. President Obama's budget blueprint extended the tax cuts for all but the top income brackets, and the Senate Budget Committee endorsed a similar proposal.

 

[sharkbait28]

I'm honestly not surprised that so few Americans understand the legislative politics around "sunset clauses" but it's still pretty fucking ridiculous that absurd headlines like the one in this thread title are taken seriously by so many people.

Republicans, scumbags that they are, understand exactly what buttons to push to mobilize the mouth-breathers.

Thats right you simple minded poor-ass bastards...go ahead and fight passionately for the interests of the ultra rich.

 

[HeathCliff]

It is to my knowledge, I don't think Omnibus had an expiration date for those increases so, letting the current rates expire is essentially taking us back to the the '93 rates.

Correct.

I don't usually get into these political back and forths but that phrase "Tax Hike" got me a little heated giving the fact that once these tax cuts expire at the end of the year, they're going back to what they were before legislation was enacted. And the OP was being intellectually dishonest with his cosignature of the whole thing.

Thats just like Best Buy running a sale on a television for 4yrs for half off and and when that sale expires at the end of the fourth year, the price of the TV go back to what it was prior to the sale. Does that mean Best Buy raised the price of the TV?

 

[theoriginalgreatone]

crackas!!!!!!!!!!!!

 

[Big Tex]

@ niggas praising a tax increase in the middle of a depression.

http://www.ritholtz.com/blog/2010/07/reagans-tax-increases/

“Reagan signed into law the Tax Equity and Fiscal Responsibility Act in 1982 before the recession was even over and went on to sign 10 more major tax increases during his administration. By 1988 he had taken back half the 1981 tax cut. These tax increases were most enacted as part of budget deals that cut domestic discretionary spending. Compared to today’s Republicans, Reagan was a model of fiscal responsibility.”

Reagan raised taxes IN A FUCKING RECESSION WITH UNEMPLOYMENT OVER 10 PERCENT. That doesn't fit into your right wing talking points though, does it?

 

[SaKem]

YOU will not see a tax increase. trust this. we both know you don't make over $200,000 per year

You don't know shit. 2. The tax hikes apply to everyone you fucking idiot. And investments you dumb shit.

 

[sharkbait28]

We should leave the Bush Tax Cuts in place and continue spending like trophy wives.

The deficit can be paid for fully via unicorns and cotton candy

 

[SaKem]

Read dude, get off Fox news...


http://www.politicsdaily.com/2010/07/29/battle-looming-over-bush-tax-cuts-what-it-means-to-you/

Income Taxes

-- Some taxpayers in the 10 percent bracket would go to the 15 percent bracket;
-- The 25 percent bracket would go to 28 percent;
-- The 28 percent bracket would become 31 percent;
-- The 33 percent bracket would go to 36 percent; and
-- People in the highest bracket -- 35 percent -- would see their rate go up to 39.6 percent.



You proved my point with your article. What an idiot.

Capital Gains and Dividends

The 2003 tax cuts reduced levies on capital gains and dividends to 15 percent or 5 percent based on a person's income. More cuts zeroed out dividend taxes entirely for some earners. Capital gains rates will return to 20 percent in 2011 without action, while the tax on dividends will go back to marginal rates.