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Tax rates on wealthy lowest since before Depression

Races for the Senate, U.S. House, etc. and other issues of national importance.

Re: Tax rates on wealthy lowest since before Depression

Postby Cornbread » Sat Jun 16, 2012 8:36 pm

bdog wrote:Not taking a side here either way

why bother in qualifying yourself?
Speak your mind. The worst thing that can happen is you speak something contrary to "the collective", then be shunned.

But really, it's a blessing. Fluking fresh air....breathe the fresh, clean air. Be Free...

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Re: Tax rates on wealthy lowest since before Depression

Postby Henry Vilas » Sun Jul 08, 2012 5:05 pm

The GOP says just extend the tax rates for the rich one more year and then we can reform the tax code. Sounds like another promise to be broken.

The Senate's top Republican renewed an offer today to President Obama over the George W. Bush-era tax cuts, due to expire at the end of the year.

"What we ought to be doing is extend the current tax rates for another year with a hard requirement to get through comprehensive tax reform one more time," said Senate Minority Leader Mitch McConnell, R-Ky....

President Obama and aides have shown little interest in a one-year extension, saying the Bush tax rates should be extended for middle-class Americans but ended this year for the wealthiest.
...
"Do you think we are a Bush tax away for a millionaire away from a flourishing economy?" (former White House press secretary Robert) Gibbs said. "Or should we protect and keep taxes low for middle-class families and give them a chance?"
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Re: Tax rates on wealthy lowest since before Depression

Postby fisticuffs » Wed Jul 11, 2012 8:10 am

More of what we already know. While the Tea Party was out protesting government involvement in their Medicare and blasting Obama's despicable over-taxation the US paid the lowest taxes in 30 years.
http://www.washingtonpost.com/business/ ... ml?hpid=z3
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Re: Tax rates on wealthy lowest since before Depression

Postby Henry Vilas » Sat Aug 18, 2012 2:34 pm

As Republican political candidates are pushing for addtional tax cuts for the wealthiest Americans, they refuse to talk about their own wealth and the low rate of taxation they now pay because they want it even lower.

Obama recently addressed that hypocrisy.

Obama stressed taxes today in New Hampshire, arguing that Republican plans would only serve to reduce the tax bills of millionaires -- including GOP nominee Mitt Romney.

New Romney running mate Paul Ryan "put forward a plan that would let Governor Romney pay less than 1% in taxes each year," Obama told backers in Windham, N.H.

Obama also attacked Romney on his proposed $5 trillion tax cut, saying it will have to be financed by raising other taxes or cutting programs that benefit the middle class.

The Republicans tried "this trickle-down snake oil" during the George W. Bush years, Obama said, but it led to the financial collapse of 2008 and recession. "It's not a plan to create jobs," he said.
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Re: Tax rates on wealthy lowest since before Depression

Postby Henry Vilas » Wed Aug 22, 2012 2:00 pm

The middle class falls further behind

The middle class is struggling to survive and shrinking before our eyes, the Pew Research Center reported on Wednesday.

"America's middle class has endured its worst decade in modern history," the Pew Research Center said in its report. "It has shrunk in size, fallen backward in income and wealth, and shed some -- but by no means all -- of its characteristic faith in the future."

Of the 2,500 people Pew surveyed, 85 percent of those who identify themselves as middle class say it is more difficult now than it was a decade ago to maintain their standard of living. The report also found that the middle class is a much smaller part of the population than it used to be, while the poor and rich extremes of society are expanding.

So what's the Republican solution? More tax cut for the richest Americans, of course.
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Re: Tax rates on wealthy lowest since before Depression

Postby Henry Vilas » Tue Aug 28, 2012 12:30 pm

Most Americans say the rich don't pay enough taxes

As the income gap between rich and poor widens, a majority of Americans say the growing divide is bad for the country and believe that wealthy people are paying too little in taxes, according to a new survey.

The poll released Monday by the Pew Research Center points to a particular challenge for Republican presidential candidate Mitt Romney, whose party's policies are viewed by a wide majority as favoring the rich over the middle class and poor.
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