My Thoughts on Tonight's Election

Now that conservatards have been thrashed again. Mandate rules, higher taxes for the rich. Crying is ok, but taxes ARE going up.
 
The Dude said:
Now that conservatards have been thrashed again. Mandate rules, higher taxes for the rich. Crying is ok, but taxes ARE going up.
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Ya know the funny part is that the pain required to fix the budget short falls aint that much. As I said elsewhere, kill a few loopholes, let the Bush tax cuts expire, reform medicare by rolling it over into the ACA and increasing the payroll tax by 1%, Raise the payroll tax cap from $113,000 to $200,000 (that's over kill actually, $150,000 would work.) and SS and Medicare become solvent far, far into the future, and raise the longterm capital gains tax to 20%.

Of all those raising the longterm capital gains tax rate from 15% to 20% is the most important cause that's where the money is and the current 15% rate has caused a problem by creating an entire tax shelter industry based upon the low long term capital gains rate. Raising that to 20% would generate a lot of revenue, wouldn't hurt investment and would end this tax shelter industry.

But the most important point is that none of these measures would be particularly painfull. What I'm suggesting here would raise my affective tax rate by about 3%. I can afford that. For a median income household you'd be talking about 2% increase. It would raise Mitt Romney and Warren Buffets affective tax rate from about 15% to 20%. Sure, a significant hit but not a painful one and they can afford it. These are not painful measures that need to be taken.
 
Its just the rich dont get what they want by insisting government not stand up for the little guy so hes putty in their hands and is also forced to pay for the cost of all government.
 
Mott the Hoople said:
Ya know the funny part is that the pain required to fix the budget short falls aint that much.
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I think you underestimate what it would take. They are spending about 30% more than they take in.

As I said elsewhere, kill a few loopholes, let the Bush tax cuts expire
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No... kill ALL the loopholes, simplify the tax code. Eliminate subsidies. Let the OBAMA tax cuts expire on those making $200/250k or more and raise cap gains up to ordinary income rates.

reform medicare by rolling it over into the ACA
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you were doing so well, then you ruin it with the above nonsense. how does rolling medicare into ACA 'reform' Medicare???

and increasing the payroll tax by 1%, Raise the payroll tax cap from $113,000 to $200,000 (that's over kill actually, $150,000 would work.) and SS and Medicare become solvent far, far into the future, and raise the longterm capital gains tax to 20%.

Of all those raising the longterm capital gains tax rate from 15% to 20% is the most important cause that's where the money is and the current 15% rate has caused a problem by creating an entire tax shelter industry based upon the low long term capital gains rate. Raising that to 20% would generate a lot of revenue, wouldn't hurt investment and would end this tax shelter industry.
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Why are you protecting the rich and harming the poor Mutt? Unless you meant to raise payroll taxes back to the pre Obama tax cuts. In that case I agree they need to put the 2% back in place. But I would create a donut hole rather than simply raising the cap. Start the payroll tax back up on everything earned over $500k.

As for Cap gains... they should be taxed like any other source of income. (this will allow us to lower the brackets (meaning keep them where they are) while raising revenue)

But the most important point is that none of these measures would be particularly painfull. What I'm suggesting here would raise my affective tax rate by about 3%. I can afford that. For a median income household you'd be talking about 2% increase. It would raise Mitt Romney and Warren Buffets affective tax rate from about 15% to 20%. Sure, a significant hit but not a painful one and they can afford it. These are not painful measures that need to be taken.
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Effective tax rate. Not affective. Just sayin...
 
evince said:
Its just the rich dont get what they want by insisting government not stand up for the little guy so hes putty in their hands and is also forced to pay for the cost of all government.
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LMAO... again you don't let those FACTS get in your way do you desh. What percentage of federal income taxes do the top 1% pay? top 10%?

Tell us again how the little guy pays for it all...
 
Superfreak said:
Why is it that when someone says 'we don't need to raise taxes', the morons from the left start the straw man factory in full force? Show us Low where ANYONE stated that no one should pay ANY taxes or that the government shouldn't provide ANY services.

Point us to that example.
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You miss my point (mea culpa). I am not saying that at all, I am illustrating - or trying to - that the shrill, stuck pig like calls for lower taxes are seldom thought through. Taxes, originally raised to finance an army, are now used (or most certainly should be used) for the general good of society. Infrastucture, the arts, communications, national emergencies, etc etc.
The alternative is private enterprise and all the corruption and double dealing and croney-ism that that all too often breeds. No, I know not always, and there are many many examples of BOOT projects, for example, which have been extremely successful.
Personally I am in favour of sporting facilities, for example, being free or nearly free for young people, I like the idea that museums and art galleries are free or subsidised for all, I like being able to complain to my local authority and be given (by law) a response withing 'x' days rather than face huge private conglomerates. (ever tried to make a complaint to an airline?)

So, your question should be 'what are my taxes being spent on?' and not I dont want any more taxes. Most who say that dont really know more than what.
 
evince said:
I agree this is all doable with some sacrafice.


Its worth the sacrafice
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But you have no plan to sacrifice anything; because you have nothing to contribute.
You're just a want a bigger slice of that Government teat, that you're sucking on.
 
Lowaicue said:
You miss my point (mea culpa). I am not saying that at all, I am illustrating - or trying to - that the shrill, stuck pig like calls for lower taxes are seldom thought through. Taxes, originally raised to finance an army, are now used (or most certainly should be used) for the general good of society. Infrastucture, the arts, communications, national emergencies, etc etc.
The alternative is private enterprise and all the corruption and double dealing and croney-ism that that all too often breeds. No, I know not always, and there are many many examples of BOOT projects, for example, which have been extremely successful.
Personally I am in favour of sporting facilities, for example, being free or nearly free for young people, I like the idea that museums and art galleries are free or subsidised for all, I like being able to complain to my local authority and be given (by law) a response withing 'x' days rather than face huge private conglomerates. (ever tried to make a complaint to an airline?)

So, your question should be 'what are my taxes being spent on?' and not I dont want any more taxes. Most who say that dont really know more than what.
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Exactly!!!
 
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