8 comments:

Koko said...

I really would rather have Obama just let the middle class tax cuts expire than have us borrow billions more from China so we can give tax cuts to the top 2%.

But then off course he'll be roasted for that as well.

November 12, 2010 at 12:23 PM  

Anonymous said...

have you seen Bush's interviews on television the past few days? Is he not the very essence of "Functional Retard"?!

November 12, 2010 at 1:21 PM  

Regs said...

Nice liberal spin. congrats.

Republicans think that EVERYONE should have lower taxes and the government needs to do a better job of using the money they already are getting.

Top wage earners already pay a much higher percentages of their taxes than the middle class. Although not entirely fair, that has been accepted.

Oh and by the way, making $250,000 per year does not allow you to burn $100 bills for incense. Democrats always paint the picture that everyone who these tax increases would affect are all people on MTV Cribs when that is not the case.

November 12, 2010 at 3:28 PM  

Koko said...

I like you called it "liberal spin." A weak tactic used by people who cannot defend the point.

The reason you can't defend it is because what the Republcans are doing is indefensible.

Right now Obama is being forced to extend the Bush tax cuts, you know the ones that favor the top 2%. That's not debatable, it's what they do. We will then have to borrow billions more to make that money up.

If he does not extend those cuts, the Republicans are not willing to extend the cuts for the middle class that we have now. So yes they are holding them hostage. What would you call it?

They are looking out for the top earners first, not the middle class. How anyone who considers themselves in the middle class can be a republican is beyond my understanding. They just proved it yet again. Their first priority is the rich. Always has been, always will be.

So now Obama will be looked at as weak by his own party because he's going to have to give in or let the middle class tax cuts expire. And I don't think he's willing to do that, although I think he should just to prove he can't be bullied.

Please let me know what about that is "liberal spin."

And please cry me a rive about the taxes on the rich. The increase is a whopping 3% which would help the country immensely and would barely be noticed by who it affects. But I understand, one can never have too many penthouses.

November 12, 2010 at 5:19 PM  

Regs said...

You are talking about another 3% on somebody that is already paying 36%.

The point that you are conveniently tip-toeing around is that most Americans realize that this is just the start. Once the "raise taxes" ball starts rolling, it very rarely stops.

Obama will start at $250,000 and then say "well somebody making $150,000 is doing well, lets raise their rate" Then he will say "well, people making $100,000 are still doing ok, let's raise their taxes" Next will be people making $75,000, then $50,000.

What you also don't get is that these tax increases extend out to small businesses as well. Small businesses that earn $250,000 are also going to get the higher tax rate. Most growing small businesses use any extra money to invest into growing their business and in many cases, hiring more employees.

The liberal spin that I am talking about is the notion that somebody making $250,000 is at home deciding whether or not to buy that second helicopter or invest in another private jet. That is just simply not true. But that is the picture you are trying to create in people's minds.

When I have 4 kids simultaneously going to college, I will probably need to be making $250,000 just to break even. I know that is my choice, but the last thing that i need is higher taxes.

November 12, 2010 at 6:05 PM  

Koko said...

So instead, let's take the money from programs like social security and medicare right? What a bunch of humanitarians you guys are.

And there you go Regs, true to the Republican nature you use the old reliable go to tactic . . .fear.

"The taxes will never stop!!!"

Please, you can say that about anything. If you want to inject fear into it, then why should any piece of legistature ever get passed?

I can use it too. If the Republicans get their way, the middle class will be completely destroyed and they will finally complete there mission of 2 economic classes in this country. Rich and poor.

Here's the difference, my fear is actually happening.

November 15, 2010 at 9:41 AM  

Regs said...

Bar Stool Economics

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes,
It would go something like this:

The first four men (the poorest) would pay nothing.

- The fifth would pay $1.

- The sixth would pay $3.

- The seventh would pay $7.

- The eighth would pay $12.

- The ninth would pay $18.

- The tenth man (the richest) would pay $59.

So, that's what they decided to do. The ten men drank in the bar.
Every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. 'Since you are all such good Customers, he said, 'I'm going to reduce the cost of your daily beer By $20.
Drinks for the ten now cost just $80.
The group still wanted to pay their bill the way we pay our taxes so:

- The first four men were unaffected. They would still drink for free.
But what about the other six men - the paying customers? How could
They divide the $20 windfall so that everyone would get his 'fair
Share?' They realized that $20 divided by six is $3.33. But if they
Subtracted that from everybody's share, then the fifth man and The
sixth man would each end up being paid to drink his beer. So, The bar
owner suggested that it would be fair to reduce each man's Bill by
roughly the same amount, and he proceeded to work out the Amounts each should pay.



And so:

- The fifth man, like the first four, now paid nothing (100% savings).

- The sixth now paid $2 instead of $3 (33%savings) .

- The seventh now paid $5 instead of $7 (28%savings) .

- The eighth now paid $9 instead of $12 (25% savings).

- The ninth now pa id $14 instead of $18 (22% savings).

- The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before and the first four
continued to drink for free. But once outside the restaurant, the men
began to compare their savings. 'I only got a dollar out of the
$20,'declared the sixth man.

He pointed to the tenth man,' but he got $10!'

'Yeah, that's right,' exclaimed the fifth man. ' I only saved a
Dollar, too. It's unfair that he got ten times more than I!'

'That's true!!' Shouted the seventh man. 'Why should he get $10 back
When I got only two? The wealthy get all the breaks!'

Wait a minute,' yelled the first four men in unison. 'We didn't get
anything at all. The system exploits the poor!'

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn't show up for drinks, so the nine
sat down and had beers without him. But when it came time to pay the
bill , they discovered something important. They didn't have enough
Money between all of them for even half of the bill!

And that, boys and girls, ladies and gentlemen, journalists and
college professors, is how Our tax system works. The people who pay
the highest taxes get the Most benefit from a tax reduction. Tax them
too much, attack them For being wealthy, and they just may not show up
anymore. In fact, They might start drinking overseas where the
atmosphere is somewhat friendlier.

David R. Kamerschen, Ph.D.
Professor of Economics, University of Georgia

November 16, 2010 at 8:53 PM  

Koko said...

Oh My God. That totally changed my whole perspective.

Fuck social security, fuck medicare, fuck all the social programs that have worked for 100 years. We need to make sure those rich folks don't take their business elsewhere, otherwise they might to start set up shop in China . . .

WHOOPS! That's already happening and has been for a long time.

The tax rate will never be low enough for the corporations because it will never be lower than some 3rd world country. So tailoring everything toward the idea that big industry will come back to this country if we simply lower the tax rate is an insult to anyone's intelligence.

You can cite all the bad scenarios and usless analogies from all the hack economist out there Regs. But you'll still have to explain to me how pushing the retirement age to 67 or even 69, cutting social security and medicare, and borrowing billions more to make up for the tax cuts to the rich is a better option than increasing taxes 3% on people who make more than $250K.

It's an insane argument that has no merritt.

November 17, 2010 at 9:33 AM  

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