Is retiring the Bush Tax Cuts the largest tax increase in American history or is this just another Republican melodrama?
bob
2012/06/11 19:47:54
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Top Opinion
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Redneck Gal 2012/06/11 21:23:35Retiring the Bush Tax Cuts is just another Republican melodrama
+5It's the wealthiest Americans that will feel this the most which is why Republicans are whining!! Only Bush would implement a tax cut during the time of war!!!! I've been saying for quite some time, let the Bush tax cuts expire. If my taxes happen to go up I say let it happen....at least I know the top 1% would finally pay their fair share. Romney paying 13.9% vs my 34% is BS!!!!
From The Media.
Mitt Romney:
After going to both Harvard Business School and Harvard Law School
simultaneously, he passed the Michigan bar, but never worked as an attorney.
As a venture-capitalist, Romney's first major business deal involved investing
in a start-up office supply company with one store in Massachusetts that sold
office supplies. That company, called Staples, now has over 2,000 stores and
employs over 90,000 people.
Romney or his company Bain Capital (using what became known as the "Bain Way")
would go on to perform the same kinds of business miracles again and again, with
companies like Domino's, Sealy, Brookstone, Weather Channel, Burger King, Warner
Music Group, Dollarama, Home Depot Supply, and many others.
Got your calculators handy? Let's recap.
1. Volunteer campaign worker for his dad's gubernatorial campaign 1 year.
2.Unpaid intern in Governor's office 8 years.
3.Mormon missionary in Paris 2 years.
4.Unpaid bishop and state president for his church 10 years.
5.No salary as president of the Olympics 3 years.
6.No salary as MA governor 4 years.
That's a grand total of 28 years of unpaid service to his country, his community
and his church. Why? Because that's the ki...
From The Media.
Mitt Romney:
After going to both Harvard Business School and Harvard Law School
simultaneously, he passed the Michigan bar, but never worked as an attorney.
As a venture-capitalist, Romney's first major business deal involved investing
in a start-up office supply company with one store in Massachusetts that sold
office supplies. That company, called Staples, now has over 2,000 stores and
employs over 90,000 people.
Romney or his company Bain Capital (using what became known as the "Bain Way")
would go on to perform the same kinds of business miracles again and again, with
companies like Domino's, Sealy, Brookstone, Weather Channel, Burger King, Warner
Music Group, Dollarama, Home Depot Supply, and many others.
Got your calculators handy? Let's recap.
1. Volunteer campaign worker for his dad's gubernatorial campaign 1 year.
2.Unpaid intern in Governor's office 8 years.
3.Mormon missionary in Paris 2 years.
4.Unpaid bishop and state president for his church 10 years.
5.No salary as president of the Olympics 3 years.
6.No salary as MA governor 4 years.
That's a grand total of 28 years of unpaid service to his country, his community
and his church. Why? Because that's the kind of man Mitt Romney is!
And in 2011 Mitt Romney gave over $4 million to charity, almost 19% of his
income....Obama gave 1% ....Joe Biden gave $300 or .0013%
This is real character vs....well you know what!
Romney may not be the best representative the Republicans could have selected.
At least I know what religion he is, and that he won't desecrate the flag, bow
down to foreign powers, or squander my money on vacations. I know he has the
ability to turn this financial debacle that the "Spending President" has gotten
us into. We didn't know that when Obama said he'd
give us change, he meant nickels and dimes, and he would get the big bucks. We
won't like all the things necessary to recover from this debt, but someone with
Romney's background can do it.
But, on the minus side, He never was a "Community Organizer", never took drugs
or smoked pot. Never got drunk. Did not associate with communists or terrorists.
Nor did he attend a church whose pastor called for God to damn the US.
I don't think the "auto-matic" spending cuts mean crap, either party will spend our money like corn thru a goose if we don't keep an eye on them.
I don't think Republicans are as guilty as Democrats with melodrama. Everytime Democrats want to increase spending they just haul out a load of "Victims" and pretend every other American is "just a paycheck away" from being in the same situation as the victim dejour.
Remember Bob, Clinton was the tax and spend president. He taxed and spend more than what was coming in so he had to take for Social Security to pay for his spending.
Reagan typically did not make tax increases part of his own proposals. But he did approve and even advocate for budget deals that included increases to tax revenues, and he spoke of tax fairness in ways that contrast sharply with today’s Republicans in Congress.
Ultimately, REAGAN SIGNED measures that increased federal taxes every year of his two-term presidency except the first and the last. These included a higher gasoline levy, a 1986 tax reform deal that included the largest corporate tax increase in American history, and a substantial raise in payroll taxes in 1983 as part of a deal to keep Social Security solvent. While wealthy Americans benefited from Reagan's tax policies, blue-collar Americans paid a higher percentage of their income in taxes when Reagan left office than when he came in.
So...blaming Congress only goes so far since it all falls back on the president. And look...I was able to respond to you without any insults. You should give it a try. Doesn't make you look as spiteful.
If I apply what you just said to your comment above of "Reagan cut taxes and government revenue increased." that's not true because like you said. Reagan did not, Congress did.
Look I'm not trying to change your mind I'm just laying out facts that are readily available almost everywhere with a simple search of - Reagan + taxes. He raised taxes, a lot. I know its hard to digest the truth when it goes against your ideology but its true. Just learn to accept history.
I'm going to stop commenting now because I realize that you like your version of history very much.
If you haven't yet watch the documentary on Reagan called "Reagan" yet you should. You like Reagan, I like Reagan but it might help you out with his background (being a liberal Democrat and Union leader etc) and what he did before, during and after his presidency.
Let us establish one point definitively: Bill Clinton didn't balance the budget. Yes, he was there when it happened. But the record shows that was about the extent of his contribution.
Many in the media have flubbed this story. The New York Times on October 1st said, "Clinton balances the budget." Others have praised George Bush. Political analyst Bill Schneider declared on CNN that Bush is one of "the real heroes" for his willingness to raise taxes -- and never mind read my lips. (Once upon a time, lying was something that was considered wrong in Washington, but under the last two presidents our standards have dropped.) In any case, crediting George Bush for the end of the deficit requires some nifty logical somersaults, since the deficit hit its Mount Everest peak of $290 billion in St. George's last year in office.
And 1993 -- the year of the giant Clinton tax hike -- was not the turning point in the deficit wars, either. In fact, in 1995, two years after that tax hike, the budget baseline submitted by the president's own Office of Management and Budget and the nonpartisan Congressional Budget Office predicted $200 billion deficits for as far as the eye could see. The figu...
Let us establish one point definitively: Bill Clinton didn't balance the budget. Yes, he was there when it happened. But the record shows that was about the extent of his contribution.
Many in the media have flubbed this story. The New York Times on October 1st said, "Clinton balances the budget." Others have praised George Bush. Political analyst Bill Schneider declared on CNN that Bush is one of "the real heroes" for his willingness to raise taxes -- and never mind read my lips. (Once upon a time, lying was something that was considered wrong in Washington, but under the last two presidents our standards have dropped.) In any case, crediting George Bush for the end of the deficit requires some nifty logical somersaults, since the deficit hit its Mount Everest peak of $290 billion in St. George's last year in office.
And 1993 -- the year of the giant Clinton tax hike -- was not the turning point in the deficit wars, either. In fact, in 1995, two years after that tax hike, the budget baseline submitted by the president's own Office of Management and Budget and the nonpartisan Congressional Budget Office predicted $200 billion deficits for as far as the eye could see. The figure shows the Clinton deficit baseline. What changed this bleak outlook?
Stephen Moore is director of fiscal policy studies at the Cato Institute.
Newt Gingrich and company -- for all their faults -- have received virtually no credit for balancing the budget. Yet today's surplus is, in part, a byproduct of the GOP's single-minded crusade to end 30 years of red ink. Arguably, Gingrich's finest hour as Speaker came in March 1995 when he rallied the entire Republican House caucus behind the idea of eliminating the deficit within seven years.