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 Could someone explain this to me 
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Post Could someone explain this to me
This seems about as hypocritical as possible: the GOP against a tax reduction.

http://www.msnbc.msn.com/id/44218846/ns/politics/


Sun Aug 21, 2011 5:56 pm
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Post Re: Could someone explain this to me
degs wrote:
This seems about as hypocritical as possible: the GOP against a tax reduction.


No it doesn't.

The GOP is against increasing income and capital gains taxes.

They aren't against making the 47% of Americans who actually make money from the IRS paying their fair share.

The amount of revenue the IRS loses from this 47% group is three times what the top 1 percent would pay if the Bush tax cuts were rolled back.

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Sun Aug 21, 2011 7:52 pm
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Post Re: Could someone explain this to me
Rich wrote:
degs wrote:
This seems about as hypocritical as possible: the GOP against a tax reduction.


No it doesn't.

The GOP is against increasing income and capital gains taxes.

They aren't against making the 47% of Americans who actually make money from the IRS paying their fair share.

The amount of revenue the IRS loses from this 47% group is three times what the top 1 percent would pay if the Bush tax cuts were rolled back.


I'm still not understanding it.

During the debt ceiling debate, I heard a number of times that the principal was inflexible. America is taxed too much. No increases of taxes allowed. PERIOD! We have a spending problem, not a revenue problem. Example: cutting the tax loophole for corporate jets is a tax increase and therefore non-negotiable. Even though 70+% of Americans were for it and the amount of the tax increase was essientially nothing.

Isn't this what we heard preached? We should be cutting taxes to stimulate the economy.


Mon Aug 22, 2011 7:07 am
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Post Re: Could someone explain this to me
Degs it's hard to understand, especially when you have Rich giving you a Fox News talking points answer....

Quote:
They aren't against making the 47% of Americans who actually make money from the IRS paying their fair share.


This statement is so wrong on so many levels.
1st NO ONE MAKES MONEY FROM THE IRS. PERIOD. ( unless you work there). The millions that fall below the min federal tax threshold definitely make zero from the IRS. This is why I want all tax loop holes closed, as some on the personal side allow people that actually should get taxed fall into the tax free bracket. I think if you cut out ALL loop holes on the personal and business taxes, then you actually cut the overall tax rates, but increase overall revenue. The payroll tax cut has helped the poorest people have more income to spend...which is what drives the economy.

A big problem I have with the Repub approach to get the economy started again is the idea that lowering corporate taxes will spur job creation. What it does is increase corporate profits, but if there is no increase in sales and orders, there is no job creation. Like when we lent the money to the banks, they didn't lend to businesses or people, but used it to clean up their books and increase profits. Nothing more. Government is not here to provide jobs !! Period !!! This should be a free market society, so if we have over spent then we need some belt tightening, both personally and corporately. Why is it that people feel it is the governments job to create jobs and basically bail the consumer out ??? We need to cut spending and increase revenues, simple as that . No other way around that!!


Mon Aug 22, 2011 8:39 am
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Post Re: Could someone explain this to me
degs wrote:
During the debt ceiling debate, I heard a number of times that the principal was inflexible. America is taxed too much. No increases of taxes allowed. PERIOD! We have a spending problem, not a revenue problem. Example: cutting the tax loophole for corporate jets is a tax increase and therefore non-negotiable. Even though 70+% of Americans were for it and the amount of the tax increase was essientially nothing.

Isn't this what we heard preached? We should be cutting taxes to stimulate the economy.


The payroll tax has led to losing revenues rather than generating them.

I think it should be abolished myself.

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Mon Aug 22, 2011 11:59 am
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Post Re: Could someone explain this to me
dolphan74 wrote:
Degs it's hard to understand, especially when you have Rich giving you a Fox News talking points answer....


Seeing as how I don't watch Fox News, I don't see how this is possible.

Are you incapable of jumping into a conversation without taking a veiled shot at anyone?

Quote:
This statement is so wrong on so many levels.


I mistyped earlier. What I meant to say is that 47% of households do not pay income tax and some actually get additional money.

So my statement wasn't actually "wrong on so many levels". It was mistyped. But your statement that no one makes money is wrong.

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Mon Aug 22, 2011 12:00 pm
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Post Re: Could someone explain this to me
It's called refundable tax credit. Meaning, your tax liability is zero, you get 100% of all withholding back, plus certain refundable tax credits. Earned income credit being the most popular individual refundable tax credit. A person with a tax liability of zero (pretty much anyone with children) that makes under 40ish a year adjusted gross can actually make money from the IRS. Up to about 5k from EITC alone.

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Tue Aug 23, 2011 7:30 pm
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