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Post by amoeba15 on Jul 10, 2012 11:46:00 GMT -5
PC, BTW.. Obama threatened to veto a full extension of the Bush tax cuts, saying in an interview with WWL-TV in New Orleans on Monday that a tax cut for the wealthiest 2 percent of Americans would cost $1 trillion over the next decade at a time when the nation needs to reduce the federal deficit.www.foxnews.com/us/2012/07/10/in-iowa-obama-to-make-pitch-on-tax-cuts/ |
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Post by packerconvert on Jul 13, 2012 10:35:51 GMT -5
I hope you do understand that Obama regurgiates what his handlers tell him to say. The suit simply does not understand economics 101 and how on a macro level, taxes affect a sluggish economy. Just a mere three years ago, he said that taking money out of the economy via taxes would be hurtful to the economy. Now it's a great phuckin idea since it is an election year.  |
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Post by TW on Jul 13, 2012 12:36:16 GMT -5
The rich aren't putting that money into the economy anyway, except in foreign countries.
Why should we continue to extend these cuts to them? Let them pay the incredibly high rates in other nations. Ours are a pittance by comparison.
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Post by packerconvert on Jul 13, 2012 12:42:20 GMT -5
The rich aren't putting that money into the economy anyway, except in foreign countries. Why should we continue to extend these cuts to them? Let them pay the incredibly high rates in other nations. Ours are a pittance by comparison. I believe the reason the money isn't being put back into the economy is because of the poltiical instability in this country. Businesses don't know if tax cuts will be extended. Businesses do not know the far reaching economical effect of Obamacare etc. They are sitting on their money and with this country having the highest corporate tax rate in thei world, is it even a wonder why money isn't being spent? Yeah, yeah, yeah...tax loopholes...whatever.  |
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Post by TW on Jul 13, 2012 12:49:16 GMT -5
Not true. They aren't the highest, and we have a better cap than most progressive nations. You might also consider this. We have reinvestment incentives for capital gains where many nations don't. They pay the taxes on everything, even if they reinvest. The wealthy Americans know full well the taxes, infrastructure of laws, and protection of assets is much better in the US than in almost every other nation. Even the Emirates have asset seizure laws that make investments sketchy. No. They aren't investing in the US, just in the foreign nations, and using US tax laws to keep more of it. Yet, they whine about their lot. In the meantime, the Bush tax cuts have not done anything to help the jobs market, and we've proven that already. en.wikipedia.org/wiki/List_of_countries_by_tax_rates |
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