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Christmas present enormous tax increases

Discussion in 'Political Discussion' started by patsfan13, Oct 1, 2010.

  1. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Obama promised an up or down vote on his 'deficit commission' recommendations, they will recommend massive tax increases.

    1) let Bush tax cuts expire, in the 10% bracket, welcome to 15%

    2) Cap and trade here will be the new reason for this turkey, since the MMGW meme has fallen apart

    3) VAT tax this is one the libs have wanted for a long time.


    All 3 will be job killers but the radical in the WH doesn't care nice thing is it will be said to be "bi-partisan" (they put a couple of RINO's on).


    The goal will be to pass it during the lame duck session of congress Obama will veto any attempt to stop these taxes.

    Durbin: GOP Tax Cut Stubbornness Could Cripple Obama's Fiscal Commission | TPMDC

    Dems on Obama fiscal commission raise conservative hackles with talk of ‘pro-growth’ tax hikes | The Daily Caller - Breaking News, Opinion, Research, and Entertainment

    Obama's 'Fiscal Commission' Has One Goal: to Raise Taxes


    Currently us taxes total ~45% of GDP, this will attempt to push us to the 60%+ level.

    Merry Christmas from Pelosi Reid and Obama
  2. Mrs.PatsFanInVa

    Mrs.PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    #11 Jersey

    Last edited: Oct 1, 2010
  3. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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  4. Wolfpack

    Wolfpack Banned

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    The gift that keeps on taking.
  5. Patsfanin Philly

    Patsfanin Philly Rookie

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    http://www.ontheissues.org/2008/barack_obama_tax_reform.htm

    “OBAMA: I want to provide a tax cut for 95% of Americans. If you make less than a quarter of a million dollars a year, you will not see a single dime of your taxes go up.”
  6. apple strudel

    apple strudel Banned

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    According to The Heritage Foundation (extremist right wing propaganda tank) the overall rate is ~28%, and they rank the US at 8 overall in their "economic freedom" (LOL! Freedom bucks!) rankings.

    United States information on economic freedom | Facts, data, analysis, charts and more

    The Brookings Institute (lefty version of the Heritage Institute) puts us in at about the same rate - 28.3% overall.

    Amazingly, the cats and dogs agree on the issue.

    Revenue Statistics 1965-2008, 2009 Edition

    List of countries by tax revenue as percentage of GDP - Wikipedia, the free encyclopedia

    [​IMG]
    Last edited: Oct 1, 2010
  7. khayos

    khayos Rookie

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    If the rates stand as is, the lowest rate goes from 10% to 15%... amazing.
  8. Nikolai

    Nikolai Football Atheist PatsFans.com Supporter

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    #54 Jersey

    The most interesting thing to note about Strudel's chart is that only 2 of the top ten countries have populations over 11 million people and only 3 of the bottom ten have populations under 11 million. I would have used 10 million (a nice, round number), but Sweden and Hungary both clear that hurdle by the skin of their teeth. In fact, the combined population of the bottom half is probably several times more than the combined population of the top half. In any case, I'm a little too out of it to draw any conclusions from that correlation, but it's interesting.

    A politician not keeping campaign promises? About taxes? I though only Bush I did that. :eek:
  9. PatsFanInMaine

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  10. Patsfanin Philly

    Patsfanin Philly Rookie

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    #95 Jersey

    How did that turn out for him when he ran for re-election?
    (*I presume you were referring to Bush the Elder and "read my lips")
  11. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    A VAT tax isn't favored by liberals. Where did you get that idea? The taxes liberals prefer are progressive income taxes, luxury taxes, death taxes, and higher corporate taxes. It's favored by people who are trying to figure out how to sustain our economy going forward. Neither the Republicans nor Democrats have any serious idea on how to do that. Let's face it, two of the three most recent record-breakers in terms of deficit spending are Republican.

    Why a VAT Tax Is Where It's At - BusinessWeek

    To be sure, a VAT has never gained much traction in the U.S. Many liberals oppose it because they believe it falls heaviest on the poor and elderly. Many conservatives dislike it because it's a new tax—and an efficient one. "The greater (but often unspoken) fear of many conservatives is that a VAT would be too efficient a revenue-raiser," writes Joel Slemrod, tax economist at the Stephen M. Ross School of Business at the University of Michigan. A number of conservatives worry that an efficient VAT might allow government to get even bigger. Perhaps Grover Norquist, the longtime tax opponent at the conservative lobbying group Americans for Tax Reform, put the opposition best. "VAT," he said, "is French for big government."
    Last edited: Oct 2, 2010
  12. Nikolai

    Nikolai Football Atheist PatsFans.com Supporter

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    #54 Jersey

    My point exactly.

    Indeed. I'm not sure how many people on this forum are old enough to remember, so I added the "I" after Bush.
  13. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Socialist in Europe love it because it is a hidden tax and raises lots of $$$$, you can bet it will be part of the recommendations from thsi panel. Every country in Europe has one.

    Just a prediction, if I am wrong feel free to drill me on this.
  14. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    But, if it is a recommendation it will have to have bipartisan support. Again, the problem is what do we actually do about our deficits and the reality that our country is expensive to run. We're not going to become Libertarian overnight. In the meantime, we have to pay our bills and maintain our economic credibility. I'd much rather see steeper income taxes than a VAT tax. If you felt we absolutely had to raise taxes (as some people on both sides do), what would you propose?
    Last edited: Oct 2, 2010
  15. Michael

    Michael Moderator Staff Member PatsFans.com Supporter

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    #12 Jersey

    He knitted me this sweater too.

    [​IMG]
  16. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Obama has promised an up or down vote on the whole package.
  17. Run DMC

    Run DMC Rookie

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    I noticed the countries at the top of the Strudel's list have also been ranked with highest quality of life. Another strange coincidence, none of the countries with higher standards of living have a bloated, blood-sucking military industrial complex to support. Hmmmm..........
    Last edited: Oct 2, 2010
  18. IcyPatriot

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