|
|
Joined: Oct 2003
Posts: 7,251
6000+ posts
|
|
6000+ posts
Joined: Oct 2003
Posts: 7,251 |
Quote:
Well, I'm actually asking WBAM for clarification but yeah I think those of us that can afford it can pay a bit more. Not to discriminate but for the greater good
From each according to his abbility, eh?
Anyhoo, I'm FOR the child tax credit under our current system, the "fair tax" is a national sales tax, so tax credit wouldn't factor into it.
Putting the "fun" back in Fundamentalist Christian Dogma.
" I know God exists because WBAM told me so. " - theory9
JLA brand RACK points = 514k 
|
|
|
|
|
Joined: Jun 2003
Posts: 16,202 Likes: 80
Fair Play! 15000+ posts
|
|
Fair Play! 15000+ posts
Joined: Jun 2003
Posts: 16,202 Likes: 80 |
Quote:
wannabuyamonkey said:
Quote:
Well, I'm actually asking WBAM for clarification but yeah I think those of us that can afford it can pay a bit more. Not to discriminate but for the greater good
From each according to his abbility, eh?
Anyhoo, I'm FOR the child tax credit under our current system, the "fair tax" is a national sales tax, so tax credit wouldn't factor into it.
Wouldn't a national sales tax sock families harder than me? That just doesn't seem fair at all. This just makes my liberal ears bleed. 
Fair play!
|
|
|
|
|
Joined: May 2003
Posts: 43,958 Likes: 6
Officially "too old for this shit" 15000+ posts
|
|
Officially "too old for this shit" 15000+ posts
Joined: May 2003
Posts: 43,958 Likes: 6 |
Quote:
Matter-eater Man said:
G-man your just being silly.
We all benefit as a nation, when the family unit is doing well IMHO.
So, now, you are narrow-mindedly defining a "family" as only one that includes minor children?
Pity the poor childless husband and wife. They're not a REAL family to our friend MEM here.
|
|
|
|
|
Joined: Oct 2003
Posts: 7,251
6000+ posts
|
|
6000+ posts
Joined: Oct 2003
Posts: 7,251 |
Quote:
Matter-eater Man said:
Quote:
wannabuyamonkey said:
Quote:
Well, I'm actually asking WBAM for clarification but yeah I think those of us that can afford it can pay a bit more. Not to discriminate but for the greater good
From each according to his abbility, eh?
Anyhoo, I'm FOR the child tax credit under our current system, the "fair tax" is a national sales tax, so tax credit wouldn't factor into it.
Wouldn't a national sales tax sock families harder than me? That just doesn't seem fair at all. This just makes my liberal ears bleed.
Is it your liberal sensibilities that lead you to dismiss the idea without asking for the specifics. I think if you knew the specifics, you would see that it acctually benifits middle and lower class families alot more than the current system, but you didn't ask so I assume you don't care and have allready dissmissed it, knowing absolutely nothing about it.
Putting the "fun" back in Fundamentalist Christian Dogma.
" I know God exists because WBAM told me so. " - theory9
JLA brand RACK points = 514k
|
|
|
|
|
Joined: Jun 2003
Posts: 16,202 Likes: 80
Fair Play! 15000+ posts
|
|
Fair Play! 15000+ posts
Joined: Jun 2003
Posts: 16,202 Likes: 80 |
Quote:
wannabuyamonkey said:
Is it your liberal sensibilities that lead you to dismiss the idea without asking for the specifics. I think if you knew the specifics, you would see that it acctually benifits middle and lower class families alot more than the current system, but you didn't ask so I assume you don't care and have allready dissmissed it, knowing absolutely nothing about it.
Fair enough, I'm skeptical about any new version of a National Sales Tax but will do some reading up on it. 
Fair play!
|
|
|
|
|
Joined: Oct 2003
Posts: 7,251
6000+ posts
|
|
6000+ posts
Joined: Oct 2003
Posts: 7,251 |
The fair tax is a national sales tax that only applies to NEW products and doesn't apply to food or neccessities. It's set up in such a way that a poor or middle class family could refrain from paying taxes if they wanted to.
Putting the "fun" back in Fundamentalist Christian Dogma.
" I know God exists because WBAM told me so. " - theory9
JLA brand RACK points = 514k
|
|
|
|
|
Joined: May 2003
Posts: 5,958
some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
|
|
some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
Joined: May 2003
Posts: 5,958 |
I suppose you think that the savings and loan bailout in the 1980s, the electricity distribution crisis in the 2000s and the trashing of environmental regulations by Bush were just necessary evils to aid corporations essential to economic recovery.
Republicans also always believe that lower tax rates are the answer to all problems, but President Clinton raised tax rates and had the longest economic boom in decades.
|
|
|
|
|
Joined: May 2003
Posts: 43,958 Likes: 6
Officially "too old for this shit" 15000+ posts
|
|
Officially "too old for this shit" 15000+ posts
Joined: May 2003
Posts: 43,958 Likes: 6 |
Quote:
whomod said:
President Clinton raised tax rates and had the longest economic boom in decades.
Points of Information:
1. In 1997, President Clinton, in response to GOP pressure, lowered the statutory capital gains tax to 20% from 28% in 1997 while expanding Roth IRA accounts.
That's when economy really rebounded and the deficit went down.
Source: The Taxing Truth
By Michael Darda, economist at Polyconomics, Inc.
March 1, 2001 9:55 a.m
2. "the longest period of sustained growth during peacetime in i[US] history" began under the Reagan administration, not the Clinton administration.
http://www.heritage.org/Research/Taxes/BG1414.cfm
Furthermore, under the Reagan tax cuts:
federal revenues increased even with tax cuts, federal spending did not decrease, the country experienced the longest period of sustained growth during peacetime in its history, and the rich paid more taxes proportionately than they had before the tax cuts were implemented.
|
|
|
|
|
Joined: Jun 2003
Posts: 16,202 Likes: 80
Fair Play! 15000+ posts
|
|
Fair Play! 15000+ posts
Joined: Jun 2003
Posts: 16,202 Likes: 80 |
Quote:
the G-man said:
2. "the longest period of sustained growth during peacetime in i[US] history" began under the Reagan administration, not the Clinton administration.
If you discount a recesion or two, I suppose that would be true.
http://members.tripod.com/~zzpat/graphs.htm
Fair play!
|
|
|
|
|
Joined: Oct 2003
Posts: 7,251
6000+ posts
|
|
6000+ posts
Joined: Oct 2003
Posts: 7,251 |
This calls for a dancing naner! 
Putting the "fun" back in Fundamentalist Christian Dogma.
" I know God exists because WBAM told me so. " - theory9
JLA brand RACK points = 514k
|
|
|
|
|
Joined: Jun 2003
Posts: 16,202 Likes: 80
Fair Play! 15000+ posts
|
|
Fair Play! 15000+ posts
Joined: Jun 2003
Posts: 16,202 Likes: 80 |
nothing beats the dancing banana ('cept the pissing monkeys!) 
Fair play!
|
|
|
|
|
Joined: Oct 2003
Posts: 7,251
6000+ posts
|
|
6000+ posts
Joined: Oct 2003
Posts: 7,251 |
Putting the "fun" back in Fundamentalist Christian Dogma.
" I know God exists because WBAM told me so. " - theory9
JLA brand RACK points = 514k
|
|
|
|
|
Joined: May 2003
Posts: 2,289
2000+ posts
|
|
2000+ posts
Joined: May 2003
Posts: 2,289 |
For some reason the animations don’t work on my work’s computers. I can’t see the narners dance! 
|
|
|
|
|
Joined: May 2003
Posts: 28,009
Inglourious Basterd!!! 15000+ posts
|
|
Inglourious Basterd!!! 15000+ posts
Joined: May 2003
Posts: 28,009 |
Quote:
wannabuyamonkey said:
Can you see 'em now? 
Just before and just after my grand mal seizure, yes I could.
Uschi said:I won't rape you, I'll just fuck you 'till it hurts and then not stop and you'll cry. MisterJLA: RACKS so hard, he called Jim Rome "Chris Everett." In Him, all porn is possible. He is far above mentions in so-called "blogs." RACK him, lest ye be lost! "I can't even brush my teeth without gagging!" - Tommy Tantillo: Wank & Cry, heckpuppy, and general laughingstock ![[Linked Image from i6.photobucket.com]](http://i6.photobucket.com/albums/y203/JoeMama13/RedSoxBanner05.png)
|
|
|
|
|
Joined: May 2003
Posts: 43,958 Likes: 6
Officially "too old for this shit" 15000+ posts
|
|
Officially "too old for this shit" 15000+ posts
Joined: May 2003
Posts: 43,958 Likes: 6 |
BUSH TAX TRIUMPHPresident Bush won a victory last night as the House voted for $70 billion in tax cuts to boost investors and protect middle-class families from a tax meant for the wealthy.
Republicans hailed the 244-185 vote as a boon for a booming economy.
The bill, which achieves one of Bush's top priorities and carries his tax cuts beyond his own term in office, is expected to pass the Senate as early as today.
It would extend the reduced 15 percent rate for capital gains and dividends for two years through 2010. It had been slated to expire at the end of Bush's presidency in 2008.
It could also protect 15 million families in 2006 from the alternative minimum tax, which was meant to make sure the rich pay taxes, but is zapping the middle class because it wasn't indexed for inflation.
Advocates say the capital gains tax cuts appear to have actually increased federal and state tax revenues by fueling economic expansion - more profits and so, more tax money, despite lower rates.
The Treasury reported this month that Uncle Sam has raked in $137 billion more in taxes so far this fiscal year - an 11.2 percent increase. Corporate income tax revenue was up 29.9 percent.
|
|
|
|
|
Joined: May 2003
Posts: 43,958 Likes: 6
Officially "too old for this shit" 15000+ posts
|
|
Officially "too old for this shit" 15000+ posts
Joined: May 2003
Posts: 43,958 Likes: 6 |
Quote:
the G-man said:
Cutting taxes often leads to more, not less, revenue for the government.
Despite increased federal spending, thanks to the tax cuts, the deficit is shrinking.
The country was facing the largest projected deficit in history when Bush promised to halve it as a percentage of GDP by 2009. Due to high wartime spending and the residual effects of the 2000–01 recession, the White House expected the 2004 deficit to reach $521 billion, or 4.5 percent of GDP. Bush’s goal was to reduce this to 2.25 percent by 2009.
After all the beans were finally counted, the 2004 deficit came in at $413 billion—roughly 3.5 percent of GDP. The economy had begun expanding, partly in response to Bush’s tax cuts, creating jobs and boosting revenue. This trend continued into the next year, pushing the deficit down to $319 billion in 2005.
This year, the projections look even better. Through the first eight months of this budget year, the deficit is $227 billion—16.7 percent lower than this time last year. That’s largely because government revenues in these eight months have reached $1.545 trillion, up 12.9 percent from last year.
Despite the strong updraft of federal spending, the deficit is on track in the next few years to continue falling until it approaches 2 percent of GDP. This is below the 2.5 percent that has been the national average since 1970, demonstrating that the president’s critics were simply wrong when they claimed that the Bush tax cuts would lead the country into economic ruin.
There is a lesson here, and it is vindicatory of the central claim of supply-side theory: Easing the national tax burden spurs economic growth, significantly mitigating the revenue loss that results from tax cuts. The national economy is a dynamic system, and it responds to the incentives and disincentives imposed on it by government policies. When businesses and individuals are allowed to keep more of what they produce, they produce more. And when investors are allowed to keep higher returns, they invest in more productive endeavors. This boosts GDP, which in turn boosts tax revenues.
|
|
|
|
|
