According to the non partisan Tax Foundation . . .

[sonofdaxjones]

raising the tax rates on the rich will barely make dent.

http://www.taxfoundation.org/blog/show/27547.html

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

Quick!  Libs, email liberal media junkyard dog Media Matters to expose this truth as a lie.



LOL, at anyone who thinks the amount of taxes some rich person pays will in any way improve their lives or reduce debt or the deficit.  Any increase in taxes will assuredly be nothing other than an exercise in tax and spend by our sorry ass federal government.

[AzCat]

That's because they're only considering taxing income.  They should, of course, institute a net worth tax instead.  I propose: 1% of net worth above $10M, 10% of net worth above $100M and 95% of net worth above $1B.  I'm sure Buffett would approve. 

 

[AbeFroman]

Well duh, when you're trillions in debt, taxing a few billionaires and a bunch of millionaires won't get you there.

[Rage Against the McKee]

I could only imagine what taxing the poor would do. Seriously, the class warfare is just getting ridiculous, guys.

[AzCat]

Taxing the poor & middle class is the only serious option for the tax-and-spend crowd.  The punch line from the article linked above is this:

Finally, to put everything in perspective, think about what would need to be done to erase the federal deficit this year:  After everyone making more than $200,000/year has paid taxes, the IRS would need to take every single penny of disposable income they have left.  Such an act would raise approximately $1.53 trillion.

That is: it would be necessary to tax everyone earning $200k & up at a 100% rate in order to balance the budget this year ... but entitlement spending is growing exponentially so it will be right back out of balance next year.  Since tax rates well short of 100% will cause the economy to fall over dead it'll be necessary to raise a great deal of new revenue from the sub-$200k crowd no matter what else is done. 

[Panjandrum]

Taxing the poor & middle class is the only serious option for the tax-and-spend crowd. 

What about the tax and cut crowd?

[AzCat]

Taxing the poor & middle class is the only serious option for the tax-and-spend crowd. 

What about the tax and cut crowd?

They don't really exist.  "Cuts", as you well know, have never really been "cuts", not now and not at any time in the past.  They are and always have been merely promised slowings of the rate of growth of government spending oddly always promised safely several election cycles down the road.  Historically they haven't happened even when they've been promised so we must therefore treat "cuts" as illusory and assume that "tax and cut" means merely "tax". 

[06wildcat]

Taxing the poor & middle class is the only serious option for the tax-and-spend crowd. 

What about the tax and cut crowd?

They don't really exist.  "Cuts", as you well know, have never really been "cuts", not now and not at any time in the past.  They are and always have been merely promised slowings of the rate of growth of government spending oddly always promised safely several election cycles down the road.  Historically they haven't happened even when they've been promised so we must therefore treat "cuts" as illusory and assume that "tax and cut" means merely "tax". 

 

[Rage Against the McKee]

The article is flawed in several ways, but it is true that Warren Buffett's call to raise taxes on everyone who made more than $1 million is not enough. The government really needs to raise taxes on everyone who makes more than $100k. They also need to make several cuts. I'd like to see the defense budget cut by at least 25%, cuts to social security, including those who already receive it, and some cuts to discretionary spending.

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

The government needs to STOP doing everything its doing and START figuring out what they hell its already done.


Only in the Federal Govt. is a "nice idea" enough to spend a billion dollars per year in perpetuity, regardless of the success of said idea.  Feeding more tax dollars to the obese, glutinous, slob that is the federal government is counter-productive at best and more realistically a poison pill we've already swallowed. 

[Panjandrum]

Taxing the poor & middle class is the only serious option for the tax-and-spend crowd. 

What about the tax and cut crowd?

They don't really exist.  "Cuts", as you well know, have never really been "cuts", not now and not at any time in the past.  They are and always have been merely promised slowings of the rate of growth of government spending oddly always promised safely several election cycles down the road.  Historically they haven't happened even when they've been promised so we must therefore treat "cuts" as illusory and assume that "tax and cut" means merely "tax". 

I'm speaking more towards people who actually think they should cut certain items and reform entitlements.  I'm not talking about the way it was always done.  I'm talking about what I (and others) would like to see happen.

[sonofdaxjones]

So let me get this straight 06, you're saying that base line budgeting doesn't exist in Washington D.C.?

[06wildcat]

So let me get this straight 06, you're saying that base line budgeting doesn't exist in Washington D.C.?

No, Dax, I'm saying that AzCat is a rough ridin' Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!). According to his logic, no one is really pro-life either because abortions are still legal.

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

So let me get this straight 06, you're saying that base line budgeting doesn't exist in Washington D.C.?

No, Dax, I'm saying that AzCat is a rough ridin' Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!). According to his logic, no one is really pro-life either because abortions are still legal.