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raising the taxes on the top 2% of earners? It seems to me that the tax policy over the last 10 years of lowering the tax rates didn’t create any jobs. It only managed to throw our nation deeper in debt. The debt needs to be repaid with tax revenue, so why not reinstate the rates to what they were? At the urging of a friend, I just looked at the historical top us marginal income rates and was floored to see just how low they are now compared to the past http://www.taxfoundation.org/files/fed_individual_rate_history-20100923.pdf. If the top earners were able to pay 92% in the top bracket back in the 1950s, surely todays top earners can afford to pay 39% for the sake of our grandchildren’s future.
Um…”Like for Sure Dude” – Nice try, liar. Spare us you disingenuous cut and paste job. Noone has proposed letting the Bush tax cuts expire on those making under 250K filing jointly or 200K filing individually. I asked a sincere question and hoped for a sincere answer, not propaganda.

9 Thoughts on If people are so worried about leaving a mountain of debt to their grandkids, then why are they so opposed to?
  1. Reply
    subwm4bush
    November 16, 2011 at 1:12 am

    The problem is the Baby Boomers. The Worst Generation wants everything for themselves and nothing for anyone else. Those greedy spoiled brats get ANGRY when it comes to controlling their entitlements and taxes. In the 60’s and 70’s they indulged themselves with sex, drugs and rock and roll. In the 80’s they wanted wanted MORE, money and now cocaine. In the 90’s they became obsessed with staying young and making MORE MONEY, and started taking prescription drugs, cosmetic surgery, and erectile dysfunction drugs. Now they are angry Tea Party people who want to cut everything for everyone else, but God forbid if anyone treads on their MEDICARE! The Greatest Generation
    was right about their children, they are worthless spoiled brats who will always screw up and demand more.

  2. Reply
    Like for sure dude
    November 16, 2011 at 1:56 am

    the top 2% of earners huh, nice try
    The 10% bracket rises to an expanded 15%
    – The 25% bracket rises to 28%
    – The 28% bracket rises to 31%
    – The 33% bracket rises to 36%
    – The 35% bracket rises to 39.6%

    Higher taxes on marriage and family. The “marriage penalty” (narrower tax
    brackets for married couples) will return from the first dollar of
    income. The child tax credit will be cut in half from $ 1000 to $ 500 per
    child. The standard deduction will no longer be doubled for married couples
    relative to the single level. The dependent care and adoption tax credits
    will be cut.

    The return of the Death Tax. This year, there is no death tax. For those
    dying on or after January 1 2011, there is a 55 percent top death tax rate
    on estates over $ 1 million. A person leaving behind two homes and a
    retirement account could easily pass along a death tax bill to their loved
    ones.

    Higher tax rates on savers and investors. The capital gains tax will rise
    from 15 percent this year to 20 percent in 2011. The dividends tax will
    rise from 15 percent this year to 39.6 percent in 2011. These rates will
    rise another 3.8 percent in 2013.

    Second Wave: Obamacare

    There are over twenty new or higher taxes in Obamacare. Several will first
    go into effect on January 1, 2011. They include:

    The “Medicine Cabinet Tax” Thanks to Obamacare, Americans will no longer be
    able to use health savings account (HSA), flexible spending account (FSA),
    or health reimbursement (HRA) pre-tax dollars to purchase non-prescription,
    over-the-counter medicines (except insulin).

    The “Special Needs Kids Tax” This provision of Obamacare imposes a cap on
    flexible spending accounts (FSAs) of $ 2500 (Currently, there is no federal
    government limit). There is one group of FSA owners for whom this new cap
    will be particularly cruel and onerous: parents of special needs children.
    There are thousands of families with special needs children in the United
    States, and many of them use FSAs to pay for special needs education.
    Tuition rates at one leading school that teaches special needs children in
    Washington , D.C. ( National Child Research Center ) can easily exceed $ 14,000
    per year. Under tax rules, FSA dollars can be used to pay for this type of
    special needs education.

    The HSA Withdrawal Tax Hike. This provision of Obamacare increases the
    additional tax on non-medical early withdrawals from an HSA from 10 to 20
    percent, disadvantaging them relative to IRAs and other tax-advantaged
    accounts, which remain at 10 percent.

    Third Wave: The Alternative Minimum Tax and Employer Tax Hikes

    When Americans prepare to file their tax returns in January of 2011, they’ll
    be in for a nasty surprise-the AMT won’t be held harmless, and many
    tax relief provisions will have expired. The major items include:

    The AMT will ensnare over 28 million families, up from 4 million last year.
    According to the left-leaning Tax Policy Center , Congress’ failure to index
    the AMT will lead to an explosion of AMT taxpaying families-rising from 4
    million last year to 28.5 million. These families will have to calculate
    their tax burdens twice, and pay taxes at the higher level. The AMT was
    created in 1969 to ensnare a handful of taxpayers.

    Small business expensing will be slashed and 50% expensing will disappear.
    Small businesses can normally expense (rather than slowly-deduct, or
    “depreciate”) equipment purchases up to $ 250,000. This will be cut all the
    way down to $ 25,000. Larger businesses can expense half of their purchases
    of equipment. In January of 2011, all of it will have to be “depreciated.”

    Taxes will be raised on all types of businesses. There are literally scores
    of tax hikes on business that will take place. The biggest is the loss of
    the “research and experimentation tax credit,” but there are many, many
    others. Combining high marginal tax rates with the loss of this tax relief
    will cost jobs.

    Tax Benefits for Education and Teaching Reduced. The deduction for tuition
    and fees will not be available. Tax credits for education will be limited.
    Teachers will no longer be able to deduct classroom expenses. Covered
    Education Savings Accounts will be cut. Employer-provided educational
    assistance is curtailed. The student loan interest deduction will be
    disallowed for hundreds of thousands of families.

    Charitable Contributions from IRAs no longer allowed. Under current law, a
    retired person with an IRA can contribute up to $ 100,000 per year directly
    to a charity from their IRA. This contribution also counts toward an annual
    “required minimum distribution.” This ability will no longer be there.

  3. Reply
    falsi fiable
    November 16, 2011 at 2:47 am

    Over the past 30 years, Republicans have convinced the public that they should be grateful to the wealthy for thier jobs, proclaiming that without a rich investor there would be no jobs. But that could not be further from the truth. Without workers there would be no wealthy. They claim expiration of a tax cut on the wealthiest 3% would be a job killer. Michael Steele and fellow Republicans fail to show us how. Will Republicans hide their money in their mattresses after the tax increase or will they continue seeking the highest investment returns possible?

    I’ll tell you about the injustice of the American tax system. The working class pays more in taxes than the investment class.

    Workers pay a marginal rate of 40.3% (25% federal, 15.3% FICA)

    The wealthy investment class pays a marginal rate of 15% (15% capital gains taxes, near 0% Social Security and Medicare).

    Ask yourself why workers are taxed at nearly triple the rate of investors.

    There are just four ways to create wealth:

    1. Sell natural resources, such as animal, vegetable, and mineral
    2. Labor
    3. Intellectual and creative invention
    4. Exploit someone else’s efforts from no’s 1-3 above

    Of all these, #4 gets treated most favorably by our tax system. Investors create nothing of value.

    The wealthy cannot make money off their investments without someone to raise the livestock, pick the crops, or mine the copper. They cannot make money without workers. Their investments will not grow without inventors designing products or writing movie scripts.

  4. Reply
    Mujer Alta
    November 16, 2011 at 3:43 am

    Because they believe the grand myth that all the government has to do is whack off all the spending on the worthless free-loaders and illegals and the budget will magically balance. Of course, they’re ignoring the fact that the US will be the world’s newest 3rd world country, that society will look like something from a Dickens novel, that people with nothing who hope to gain nothing in life have nothing to loose and will do anything because it doesn’t matter. In other words, our upper bracket tax break lovers will end up paying big bucks to create and maintain the police state that will be needed to keep the permanently poor from slitting their throats.

    (btw, it took 2 generations to pay off the Revolutionary War debt. The Founders left their debt to their grandkids.)

    Like For Sure Dude: The new tax law that’s already in place takes care of all the lower brackets. Only the upper bracket increase will take place when the Bush cuts sunset.

  5. Reply
    mrjonessr41
    November 16, 2011 at 4:23 am

    Then on top of that most big corporations pay 00.00 in taxes, yet the Republican battle cry is ,” cut the corporate tax rate” how much more can you cut from 0.

  6. Reply
    ObamaBot THX-1138
    November 16, 2011 at 4:40 am

    Like for sure dude:

    I love it when Republicans start to play with facts. They hide in their caves with the insults and idiocies, then even they are embarrassed and so go to Glen Beck university and did up this BS.

    Yes, our nation could be great again if we just had half the tax rate we had in the 1950’s.

  7. Reply
    Aangy
    November 16, 2011 at 5:23 am

    Because the basic truth is you need employers to higher employees. yes it is true that employers also need employees, but the later can be cut down while if you cut the employer, everyone looses there job. it doesn’t matter how you spin it, a poor man is not going to higher someone.

  8. Reply
    Ollicopter
    November 16, 2011 at 6:17 am

    Most of the people in the fifties that were investors and financiers were big players and could afford a loss or two here and there. Today’s smaller investor need to be able to grow a retirement fund. Pension funds and 401Ks are not the way some people can gain enough. The life style of the 50s has a lower standard than that required of today’s family unit. We need 3 computers in our house for everybody to be able to do their homework. Differnt standard of living, lower life expectancy and less people making it to retirement. For the sake of our grandchildrens’ future we can a fford to spend a little less.

  9. Reply
    Dennis c
    November 16, 2011 at 7:09 am

    You need to stop using all of the illegal drugs that you have been using.

    The illegal drugs that you have been using are causing you to hallucinate.

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