RIP
Bad Andy
Posts: 848
Capitalism
July 4, 1776
to
January 20, 2009
It wa sgood while it lasted.
July 4, 1776
to
January 20, 2009
It wa sgood while it lasted.
0
Comments
Seems Fazoli's is the first to fall.
my father was telling me of a time when carter was in office. My father just got a promotion and a good sized raise. he was excited about his first check at the new pay rate. the raise bumped him into the next tax bracket. his take home went DOWN. once productivity is killed like that the nation will suffer.
over 250K a year? i dont fit in that tax bracket. ...but at the rate that my wife and myself are moving up, we will be soon.
oh and taxes WILL go up for EVERYONE in a year and a half or so... the bush tax cuts will not be renewed because we "have to pay off this budget deficit from the bailouts" BTW, the bush tax cuts saved a family of 4 making a total of 45K a year a bit over 2400 a year. that could translate to $200 a month, a car payment.
but who am i to let logic and reason get in the way of what makes people feel good by taxing the rich. I mean, that doenst help the poor at all. it just hurts the rich a bit. typical class envy.
Capitalism is the unequal distribution of wealth.
Socialism is the equal distribution of poverty.
2005
top 10%
68.7% i agree here. this is why we need to attract business to the US. the best way we can do that is to lower the corporate tax rate so that it isnt the second highest in world, thus making it cheaper to do business here. But Obama wont do that because all corporations are evil, rich guys who want nothing but more money all the time. oh yeah, real smart on spending.... did you even look at this thread? Click i have no choice but to give it a chance. and yes a few of us will be surprised. but i wont be. we could argue all day on if it was bush that caused this but it goes back farther than that.... back to carter. my problem with bush in this situation is that he didnt try hard enough to stop it. ... he could have stopped it but he didnt.... but he didnt start it by any means.
as far as regan goes, yes, his spending was out of control but the fact remains, when he took office, unemployment was double digits , intrest rates were double digits, inflation was double digits. by the time he left office the economy was significantly better than when he started. doesnt work? i think it did. name one republican idea you like? thats because the republicans are not what they used to be. i disagree here as well. the republican party has gone soft. they try to appease everyone and the conservative base is getting pissed because they are not conservative anymore. Almost all the republicans that i know (and i know a LOT of republicans) are mad that the republican party is not conservative and they do not represent them anymore.
as far as disagreeing with the republican party.... i do. alot. also with conservatives. I just agree with a conservative POV on the economy.
in 2006 the wealthiest 2% paid 62% of the tax revenue collected. the richest 1% paid 40%. the richest 1% only brought in 22% of all income of individuals in the US. all according to the IRS
If the government were to take 100% of income from those making $500k+/year you would end up with 1.3 trillion. this is less than half of the projected Obama Deficit of 3.55 TRILLION. what does that mean?
taxes will go up for everyone if he has any hope of creating a balanced budget.
every tax is money taken out of the hands of people.
every tax is a limit on freedom
every tax is a potential job lost because the company can no longer afford to pay them
if a company has $1milliion to pay 50 employees every year (20K a year) and then the government ups taxes and the company now only has $800K, guess what happens to that guy? thats right, laid off. the company is now less productive than before because they have less workers. then they lose money.
if you want to pay more taxes go ahead and do it but dont make me do it as well. when the bush tax cuts expire my wife and I personally will be paying almost $2000 more a year. thats $166 a month. I could use that money every month to buy a car if i had it. but i wont have it. the government will have it. the Bush tax cuts gave a family of 4 with an income of 42K a year 2300 a year. thats almost 200 a month. and they need it too.
im not rich either. i could use that money. i want it. I earned it.
I would
Lowering taxes DOES work and Obama's policies are Socialist in nature.
According to Obama's economic budget numbers our GDP will grow to $14.7 Trillion by 2010, but our publicly held debt to other nations will increase to $9.5 Trillion! That may not sound like much, but really think about that for a minute. Our GDP will only go up approx $500 Billion but our Debt will increase by $3.7 TRILLION! That is an enormous jump. From 40.8% of our GDP in 2008 to 64.6% in just his first 2 years in office... Things aren't looking good!
If you take 100% of the income from EVERY person making over $75,000 a year from now until 2010 you will not even come close to making up the debt that the Obama administration is going to pile on our shoulders, which are already bearing quite a load....
If you would like to research a little of this, a good place to start is here
http://www.whitehouse.gov/omb/assets/fy2010_new_era/Summary_Tables2.pdf