Nobody has asked for it... but it sure is a great non-existent strawman argument to knock down, ain't it... rofllol
But they have asked for income equality. And you know this, you read Mother Jones and the other lefty periodicals, but you deny it.
And Obama had his chance to raise capital gain tax rates when he controlled the House & Senate, but he didn't. You need to realize your man is only a poser. Just using this issue to get re-elected.
Thomas Sowell: There are no solutions, just trade-offs.
I have not seen one argument from the left why the Buffet rule is good policy compared to complete tax reform which could better accomplish the same fairness objective. The Buffet rule is bad policy, has no chance of being implemented, and would just add to the over-complex tax code, and the wealthy would find ways around it anyway. A real leader would be campaigning on complete tax reform and solving our long term fiscal problem.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
Everyone likes to campaign on closing income tax loopholes with one hand while they are crafting tax credits and other devices to encourage growth in their home districts.
Thomas Sowell: There are no solutions, just trade-offs.
Joe wrote: I have not seen one argument from the left why the Buffet rule is good policy compared to complete tax reform which could better accomplish the same fairness objective. The Buffet rule is bad policy, has no chance of being implemented, and would just add to the over-complex tax code, and the wealthy would find ways around it anyway. A real leader would be campaigning on complete tax reform and solving our long term fiscal problem.
The average lefty can only understand economics and political ideas in short, pithy sound bites and cartoon visuals (example... the "revolutionary-styled" Obama poster). This has been true for decades (IE: see Russia circa. 1910-1930).
Yep, 30% for anyone making over $1 million sounds fair to me... And closing the Romney-loophole that lets him get away with paying 14% on his earnings...(including his offshore accounts in the Cayman Islands and Swiss bank accounts...)
Romney is the poster-child for this whole thing. The only jobs he seems to be creating are for the companies that manufacture car-elevators....
LadyJazzer wrote: Yep, 30% for anyone making over $1 million sounds fair to me... And closing the Romney-loophole that lets him get away with paying 14% on his earnings...(including his offshore accounts in the Cayman Islands and Swiss bank accounts...)
Romney is the poster-child for this whole thing. The only jobs he seems to be creating are for the companies that manufacture car-elevators....
Bet you a Dr. Pepper that even if Obama is re-elected, the capital gains rate will remain the same in 2016.
Thomas Sowell: There are no solutions, just trade-offs.
I truly wish Congress WOULD pass this rule and tax the so-called rich at whatever tax rate deemed necessary to make people feel good. I think we boldly illustrate two points when we do it. First, all the articles I read insist that taxing the rich at the higher rates will put some more money into the coffers but it will only be a drop in the bucket. So let's put that drop in the bucket so we can get on to substantive discussions about how to deal with America's fiscal problems. Taxing the rich will make some class warfare types feel good. That's important to me too.
The second effect will take longer to realize but either it will come to pass or not. My guess is that when we start taxing the job producers to death...they will simply become less productive, stop taking risk and stop hiring. Either that or they will be inspired to make more money purely for the purpose of paying more taxes. I know that's why I work. I love paying taxes...the more taxes the better. I think we need to tax the taxes too. It's why I get out of bed every morning...I work to pay taxes. Don't you?
I'll settle for "drop in the bucket"... It's got to start somewhere. And the constant refrain that "Well, it doesn't solve the whole problem", is tiresome. Yep, you combine a bunch of different things together, (doing away with the $4 billion/year tax breaks for the oil companies, closing the loopholes for hiding your assets offshore, closing the loopholes for exporting US jobs), it adds up.
And by the way, the research indicates that a 4% hike in the personal tax-rate will have virtually NO EFFECT on the so-called "job-creators" behavior.
But it does. Example one: a few years ago they increased a luxury yacht tax. The rich stopped buying yachts and the hourly workers at these companies lost their jobs.
And if you take away the overseas tax loophole, those job creators will move and stop creating jobs in America.
Thomas Sowell: There are no solutions, just trade-offs.
