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Title: GOP plan to extend tax cuts for rich adds $36 billion to deficit, panel finds
Source:
The Washington Post
URL Source: http://www.washingtonpost.com/wp-dy ... 010/08/11/AR2010081105864.html
Published: Aug 12, 2010
Author: Lori Montgomery
Post Date: 2010-08-14 09:53:34 by lucysmom
Keywords: Tax, Deficit, Economy
Views: 61700
Comments: 89
A Republican plan to extend tax cuts for the rich would add more than $36 billion to the federal deficit next year -- and transfer the bulk of that cash into the pockets of the nation's millionaires, according to a congressional analysis released Wednesday. New data from the nonpartisan Joint Committee on Taxation show that households earning more than $1 million a year would reap nearly $31 billion in tax breaks under the GOP plan in 2011, for an average tax cut per household of about $100,000. ... Republicans accuse Democrats of plotting one of the biggest tax hikes in American history, arguing that raising taxes on wealthy households would punish the very people capable of creating jobs, spurring economic growth and reducing the 9.5 percent unemployment rate. About half of all small-business income is reported on the individual returns of people making over $250,000 a year, according to the taxation committee's data, though those taxpayers represent only about 3 percent of small businesses.
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#1. To: lucysmom (#0)
Yep, no bias there! Go ahead and let them expire. Watch the fireworks!
Being a Democratic shill means you check your humanity at the door.
This whole thing is nothing more than a shell game. Yes,the neo-con RINO's want to reward their wealthy bosses,and there is no question this will increase the deficit. What the Dims are whining about and not telling you is that THEY are doing everything they can do to increase the deficit by buying votes with money we don't have. Neither branch of the ruling party is interested in reducing the deficit and making life better for the working classes. What they are interested in doing is keeping the support of their bases by giving them what they want and damn the costs. If you want to balance the budget you do it by not granting any more tax breaks and by cutting spending. Folks,this ain't rocket science.
"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)
No doubt. The wealthy are a small but vocal group especially since money=free speech.
Well there was a moment during the 90s... Unfortunately as soon as Republicans had it all they forgot about balancing the budget.
Nobody has ever received a job from a poor man, goofy.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
I really want to argue with you about that because they weren't really Republicans. They were and are RINO's. I can't because the RINO's have now taken over and they control the party.
"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)
On the other hand, many poor men have made their own jobs. When Adam delved and Eve span, Who was then the gentleman? Perhaps you've been brain-washed to believe that without the rich to "receive a job from", you'd be nothing.
They're not RINOs, they're neocons.
I can't because the RINO's have now taken over and they control the party. Rinos have always controlled the party. Always. You are the real Rino.
You must be a billionaire, lucygoosey!
That is generally how one becomes wealthy.
Wars don't pay for themselves. We had a deficit before the war, you wanted a war, you go the war. Pay for it.
No truer words were ever spoken. The Bush family and Kristol's neo-commie hoards deserve our eternal scorn for destroying the GOP and the country.
The country isn't destroyed......yet, drama queen.
"Yet" is the operative word. We are still not done with the economic turmoil that Bush created (and Obama made worse). We're not even close to being done. 2011 will be much wore than this year and even 2009. Just watch.
The "economic turmoil" was the result of NAFTA and Americans demand for cheap imported products. Perot predicted the "sucking sounds" and he was right on the money.
Incorrect. The turmoil was the result of Bush and his GOP Congress acting like Democrats -- creating new entitlement programs, increasing discretionary spending, spending $1 TRILLION to invade a country that never attacked us and that wasn't a treat to us, and more. They turned a balanced budget into a huge annual deficit. In the end, the handed $700 BILLION to Wall Street firms who promptly lavished it on FAILED executives. Ben Bernanke (who BUSH appointed to Federal Reserve Chairman) is culpable as well. The Bush family are a bunch of low budget Kennedys. They are all corrupt and clueless. The Bush family destroyed the GOP and now the country. I hope they all rot in hell.
No, it is exactly as Perot stated. The "sucking sound" began with NAFTA and has gotten progressively worse. What party was the majority in congress when the 700 million was handed to Wall Street?
Man are you stupid. 50% of those in the top bracket, ya dumb bitch, are small businessmen who file S paperwork with the IRS. Duh.
Being a Democratic shill means you check your humanity at the door.
This was George Bush's plan. The Bush administration concocted it. Bush pushed it. Yes, the Democratic Congress passed it with a lot of Republican votes. They are both culpable and should be held accountable. George Bush and his Republican Congress passed even more costly domestic programs as well as the misguided, useless, demented, and costly Iraq War. The Bush family is the scum of the earth and it makes me crazy to hear so-called "conservatives" worship at his feet.
Nice shill! I used to be poor, till I started my own business and freed myself of the nine-to-five insanity. But, most poor people are poor because they are lazy. Sorry, I ate their lunch because they were too lazy to emulate me and my success. Fuck'em.
Being a Democratic shill means you check your humanity at the door.
it makes me crazy to hear so-called "conservatives" worship at his feet. Yet you failed to hold them even partially responsible until I dragged it out of you. While you pretend to be "conservative" and worship Obama and the dumbocraps. You're not fooling anyone.
I'm very sick of this B.S. The average family earned about $50,000 last year. Families who earn $250,000 a year are not "rich" as Obama claims. $250,000 is only 5 times more than what the average family earned. Most of these families are either in two income homes or they own a small business, where they work 12 hours a day. Steven Spielberg earned $330,000,000 last year. That's 6,600 TIMES what the average family earned. Oprah Winfrey and Lloyd Blankfein (the CEO of Goldman Sachs who took our government bailout money) both made about $50,000,000 last year -- 1,000 times as much as the average family. Kobe Bryant also earned almost 50,000,000 in team compensation and promotions. 5 TIMES versus 6,600 TIMES or 1,000 TIMES. Yet, according to mindless leftists, the people earning 5 times as much are evil "rich" who need to pay taxes through the nose. BULLSHIT, BULLSHIT, BULLSHIT. A lot of these people are in as much trouble with the housing collapse, 401K collapse, etc. as everyone else. Think about this: the term "millionaire" was created in the early 20th century, when today's dollar was worth 6 cents. You'd have to be worth at least $16 MILLION today to be a "millionaire". The left is all about government power. They'll concoct any definition, no matter how untrue, to hang on to power and steal as much money as possible from us. To hell with that.
ROTFLMAO. You haven't dragged anything out of me. I'm here to chastise you Bush worshipers who love licking his stinky feet (and unfortunately much more). I've been blogging about politics for a few years. I'm an equal opportunity basher. Read it here
Peoples money or collectives money? The people will piss it away on cars trips and espresso machines. The government : on bombs and vote buys.
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The people will piss it away on cars trips and espresso machines. The government : on bombs and vote buys. No contest - right, Lucy?
______________________________________________________________________________ You're a fraud, an Obamasskisser and liberal apologist. You aren't fooling anybody.
The term "millionaire" applies to someone with at least a million dollars in assets, we're talking about annual income, not total assets. Here's a link comparing Democrat and GOP plans
Neo-cons ARE RINO's.
"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)
Right.
"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)
And they did it on purpose.That was a part of the plan. You can't create a new system until you destroy the old system.
"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)
Neocons are radical, RINOs are moderate.
The neo-cons are the bosses,and the RINO's are the flunkies that take orders.
"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)
No, but your combination of mental retardation and personal obnoxiousness is unparalleled.
And families who make a mere 5 times the average family income are NOT "rich" and don't deserved to be put in the same category as Stephen Speilberg who earned 6,600 TIMES the average family income last year or Lloyd Blankfien who earned 1,000 TIMES the average family income last year.
Where does Reagan fit on that scale? Is he just right as in Goldi lox and the three bears story?
You moonbats need to coordinate your talking points. http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12239
They're not. Families making 20 times the average family income are.
What is the number you are discussing? Is it the 250,000 Obama talked about during the election.
And they did it on purpose.That was a part of the plan. I don't think you are stupid, so why do you make such dumbass statements? The balanced budget was the result of of a dot com bubble, the end of the cold war, and obstinate divided government. 911 happened as did the burst of the tech bubble. Until the housing market started to fall apart in 2007, deficits were falling.
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Top • Page Up • Full Thread • Page Down • Bottom/Latestaccording to a congressional analysis released Wednesday.
#2. To: lucysmom (#0)
#3. To: Nebuchadnezzar (#1)
Go ahead and let them expire. Watch the fireworks!
#4. To: sneakypete (#2)
Neither branch of the ruling party is interested in reducing the deficit and making life better for the working classes. What they are interested in doing is keeping the support of their bases by giving them what they want and damn the costs.
#5. To: lucysmom (#0)
#6. To: lucysmom (#4)
Well there was a moment during the 90s... Unfortunately as soon as Republicans had it all they forgot about balancing the budget.
#7. To: Badeye (#5)
Nobody has ever received a job from a poor man, goofy.
#8. To: sneakypete (#6)
I can't because the RINO's have now taken over and they control the party.
#9. To: sneakypete (#6)
I really want to argue with you about that because they weren't really Republicans. They were and are RINO's.
#10. To: lucysmom (#3)
since money=free speech.
#11. To: lucysmom (#7)
On the other hand, many poor men have made their own jobs.
#12. To: Badeye (#5)
Nobody has ever received a job from a poor man, goofy.
#13. To: sneakypete (#6)
I can't because the RINO's have now taken over and they control the party.
#14. To: jwpegler (#13)
deserve our eternal scorn for destroying the GOP and the country.
#15. To: Ibluafartsky (#14)
(Edited)
yet
#16. To: jwpegler (#15)
We are still not done with the economic turmoil that Bush created
#17. To: Ibluafartsky (#16)
The "economic turmoil" was the result of NAFTA and Americans demand for cheap imported products
#18. To: jwpegler (#17)
Incorrect.
#19. To: lucysmom (#3)
No doubt. The wealthy are a small but vocal group especially since money=free speech.
#20. To: Ibluafartsky (#18)
What party was the majority in congress when the 700 million was handed to Wall Street?
#21. To: lucysmom (#7)
On the other hand, many poor men have made their own jobs.
#22. To: jwpegler (#20)
Yes, the Democratic Congress passed it
#23. To: lucysmom (#3)
(Edited)
The wealthy
#24. To: Ibluafartsky (#22)
Yet you failed to hold them even partially responsible until I dragged it out of you.
#25. To: lucysmom (#0)
Toss: ADL,CAIR and the Vatican into the pit they belong in.
#26. To: WhiteSands, lucysmom (#25)
Peoples money or collectives money?
Zero diddled while America burned
#27. To: jwpegler (#24)
I'm here to chastise you Bush worshipers
#28. To: jwpegler (#23)
Think about this: the term "millionaire" was created in the early 20th century, when today's dollar was worth 6 cents. You'd have to be worth at least $16 MILLION today to be a "millionaire".
#29. To: lucysmom (#8)
They're not RINOs, they're neocons.
#30. To: Rhino (#9)
Rinos have always controlled the party. Always. You are the real Rino.
#31. To: jwpegler (#17)
They turned a balanced budget into a huge annual deficit.
#32. To: sneakypete (#29)
Neo-cons ARE RINO's.
#33. To: lucysmom (#32)
Neocons are radical, RINOs are moderate.
#34. To: Ibluafartsky (#27)
(Edited)
You're a fraud, an Obamasskisser and liberal apologist
#35. To: lucysmom (#28)
(Edited)
we're talking about annual income
#36. To: lucysmom (#32)
Neocons are radical, RINOs are moderate.
#37. To: lucysmom (#0)
#38. To: jwpegler (#35)
And families who make a mere 5 times the average family income are NOT "rich" and don't deserved to be put in the same category as Stephen Speilberg
#39. To: lucysmom (#38)
#40. To: sneakypete (#31)
They turned a balanced budget into a huge annual deficit.
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