Tax Mythbuster Speaks Out

[nnuut]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

Didn't see a * next to this so will leave out political parties/candidates.

Study: Tax Cuts for the Rich Don't Spur Growth
By Robert Frank | CNBC
Again, this is not a TAX CUT!! This is not raising taxes on (Couples) people that make Greater than $250,000 a year, to be clear that is raising the current tax rate, which includes SMALL BUSINESS'. Speak the truth and you get respect, lieing or twisting the truth is obvious and other than righteous.


Cutting taxes for the wealthy does not generate faster economic growth, according to a new report. But those cuts may widen the income gap between the rich and the rest.

"...non-partisan research office for Congress -- shows that "there is little evidence over the past 65 years that tax cuts for the highest earners are associated with savings, investment or productivity growth."
In fact, the study found that higher tax rates for the wealthy are statistically associated with higher levels of (economic) growth."

See rest here:
Study: Tax Cuts for the Rich Don't Spur Growth - Yahoo! Finance

Again, this is not a TAX CUT!! Republicians want a cut and Obama wants to raise taxes on (Couples) people that make Greater than $250,000 a year and singles greater than $200,000, to be clear that is raising the current tax rate, which includes SMALL BUSINESS'. Speak the truth and you get respect, lying or twisting the truth is obvious and other than righteous.

 

[Boghie]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

FWM,

The last four years have been tough. But, we have largely reduced our debt and day to day spending.

I can now survive the full Clinton Tax Code. Give it to me. All of it. I want the marriage penalty, the reduced tax credits, the higher rates, and whatever capital gains and dividends tax treatment you want.

But first, I want Clinton era spending. I'll accept the FY2000 expenditures adjusted for inflation. But, no more. So, bring spending from Obama's $3.7 Trillion to Clinton's $2.4 Trillion and I will fully back the full Clinton era tax code. Everything.

Oops, we would be running a $51 Billion dollar surplus if we inflation adjust the FY2000 expenditures and kept current revenue. Oops.

 

[wavecoder]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

I hear ya Boghie,

However, Clinton in 1999-2000 had no large scale funding going toward Iraq and Afghanistan.
With Iraq mostly done and Afghanistan getting wound down for better or worse, that part will soon help.

Another that won't go away...TSA.
Developed in 2001...Security at hundreds of Airports and Shipping Terminals across the US.
TSA budget really did not exist in 1999...now due to obvious circumstances, it is huge....900 Billion to a trillion dollars over the next 10 years, for over 58,000 new Federal employees.

Interesting note...if you don't count TSA and just include all other agencies that existed today and in 1999...there are FEWER Federal Gov't Employees today than in Clinton's years.

Other costs...Predator/Drone program...well up in the billions.

Go back to Clinton spending...not so easy...ehh???
Unless you want to be the next politician to disband TSA and take the fall for the next terrorist hijacking?
I

TSA is next to worthless, i just brought a lighter on the plane that was actually in my backpack's outside pocket in plain view, and it didn't get caught in the x-ray machine. Of course I had that lighter on me by accident (my extra cigarette lighter that I thought I threw away), but still, i was surprised to fish through my stuff after the flight and find it.

 

[nnuut]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

I always wondered why they let you take one lighter but not more than one, seems one would be enough to light your shoe or underware?

 

[Boghie]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

I hear ya Boghie,

However, Clinton in 1999-2000 had no large scale funding going toward Iraq and Afghanistan.
With Iraq mostly done and Afghanistan getting wound down for better or worse, that part will soon help.

Another that won't go away...TSA.
Developed in 2001...Security at hundreds of Airports and Shipping Terminals across the US.
TSA budget really did not exist in 1999...now due to obvious circumstances, it is huge....900 Billion to a trillion dollars over the next 10 years, for over 58,000 new Federal employees.

Interesting note...if you don't count TSA and just include all other agencies that existed today and in 1999...there are FEWER Federal Gov't Employees today than in Clinton's years.

Other costs...Predator/Drone program...well up in the billions.

Go back to Clinton spending...not so easy...ehh???
Unless you want to be the next politician to disband TSA and take the fall for the next terrorist hijacking?
I

FWM,

The Department of Homeland Security costs us $52 Billion this year (total).

The Treasury's 'Monthly Treasury Statement' gives you all the numbers you seek. It does include the war effort - mixed among the DOD spending. You could see it better in the Bush years when there were annual budgets and then a supplemental since the money was split.

Anyway, there you go. We now have the opportunity to have a completely balanced budget while paying down the war and fully funding the entire 'Department of Homeland Security'.

You got to stop mixing the 10 year spending projections with current allocations. Talking about the size of 10 years of spending is odd when discussing a single year of spending. It makes things scary when it should be simple. Let's go back to the Clinton era of responsible budgets!!!

 

[Aitrus]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

Unless you want to be the next politician to disband TSA and take the fall for the next terrorist hijacking?
I

Take it from a prior EOD guy who knows - TSA doesn't do diddly to protect us. They're a pacebo to soothe the fears of the sheeple.

No offense to any TSA folks in the crowd. It's not your fault that you're mismanaged and have poor hiring practices.

 

[Boghie]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

FWM, the entire Department of Homeland Security is funded this year at $52 Billion.
The wartime expenditures are part of the documented spending.

If we go back to the Clinton era of responsible spending we are still close enough to surplus for government work (within a billion). I'll pay my fair share of that $1 Billion in necessary revenue!!!

 

[James48843]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

Personally I think we'd all be much better off if, instead of having TSA, we ISSUED .38 cal handguns to each passenger (only to volunteers who agree to carry for a flight) when they got on a plane, and then collected them all up as people got off a plane.

If EVERYONE had a .38, with perhaps only two or three bullets, we would NEVER have a hijacking again. Period.



Just think how much less expensive that would be than the salaries of all those TSA folks...

 

[WorkFE]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

Now that is a policy I could live with

 

[Aitrus]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

Fair enough Atrius...point made...you don't like the TSA. I guess I don't like the long lines also.

But we're getting off topic here a little....What someone feels about an agency has little relevance to the topic, unless...you're saying you would be for disbanding the TSA, saving 800-Billion to 1 Trillion over 10 years...going back to the same security levels we had pre-9/11??

And to keep this on budget/taxes..please, no "I wouldn't disband them I would reform them" crap.
Lets just assume that the manpower and $$ is roughly what is needed for all the checkpoints etc..
Would you (critics here of TSA) be willing to take a big step forward in going back to 1999 spending levels (and 1999 security levels) by not having the TSA?

For one, I got my knife taken away along with a huge fine (forgot I had it in my backpack which I used for fishing). But I feel a lot better on planes these days and can't imagine going back to the old days.

Yes, I would get rid of them. Why? Because we're realistically no safer now than we were then, but we have less liberty and higher travel costs. Anybody with a little know-how can get just about anything onto a plane, regardless of the TSA's invasion of privacies. We're paying for something that has a negative return. Planes shouldn't be our biggest worry nowadays anyway. There's lots of bigger, scarier things out there than hijacked planes that have pre-1999 security levels that could cause more damage and loss of life.

And the TSA is just a small chunk of the pie that I would cut out. There's lots more waste to be cut everywhere you look, even in the agency I work in. The problem is that leaders don't want to make those cuts.

 

[Aitrus]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

Personally I think we'd all be much better off if, instead of having TSA, we ISSUED .38 cal handguns to each passenger (only to volunteers who agree to carry for a flight) when they got on a plane, and then collected them all up as people got off a plane.

If EVERYONE had a .38, with perhaps only two or three bullets, we would NEVER have a hijacking again. Period.
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Just think how much less expensive that would be than the salaries of all those TSA folks...

I wouldn't want to issue to everybody who volunteers, there's too many that are dangerous out of ignorance and lack of training. Volunteers should be military, police, or somebody who can prove they have training. We can also allow citizens to exercise their CCW rights onboard. There's enough of us out there.

 

[burrocrat]

Re: Tax Mythbuster Speaks Out - Will a Tax Increase make a difference...

Now that is a policy I could live with

yeah, me too. i gaurantee i'm gettin a free upgrade to an aisle seat in the emergency row with extra leg room everytime. whether the original boarder likes it or not.