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Advisor

Hard to argue with

Excellent conservative columnist Russ Douthat has a pretty good handle on why the incumbent is struggling:

 

http://campaignstops.blogs.nytimes.com/2012/10/09/douthat-liberalisms-glass-jaw/?ref=opinion&gwh=16E...

32 Replies
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Veteran Advisor

Re: Hard to argue with

An article that the "three blind mice" that post here should read, and then read again. Russ makes it clear that going after the so called one percent is absurd...he understands that Bama has to sell his stale goods to the middle class and get them to want to buy the program, ie pay for it.

Obama refuses to acknowledge that the rich in America do not have the means to finance his utopia, and that people of modest means have to ante up, too. If he and the other liberal leaders were honest in their portrayal of who will have to pay what to finance what they want, I doubt that they have many votes to go "forward". In all fairness, I doubt that Bama or Bide actually have the brains to comprehend this, but at least Russ D. gets it. Without leadership that gets it , too, the Democratic party is not going anywhere.

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Senior Advisor

Re: Hard to argue with

It's not an effort to "get' the rich but a strategy to end their immunity from fair taxation. Do you think it is right that Romney pays a lower tax rate than Red Steele or Don Kraft? That warren buffet pays a lower federal tax rate than does his secretary.

 

The Bush tax cuts were a financial catastrophe for the federal revenue stream. Imposed by people that thought that lower taxesmnwould produce more jobs and a more robust economy. It didn't work out that way and the Romney tax cuts will merely make it worse.

 

The answer is to let the Bush tax cuts expire and work on tax incentives next. 

 

 

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Senior Contributor

Re: if the bush cuts expire

it raises the taxes on the middle class --if osamscare goes in the middle class taxes go up --why is everyone after the middle class --oh the bush change raises the tax 2000---the osama plan raises it 4000 --wanna debate this or not

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Senior Advisor

Re: if the bush cuts expire

Nope Ollie. Changing your name is like a whore putting on a new dress! It doesn't improve your intellect one bit.

Highlighted
Advisor

Re: Hard to argue with

I don't know whether I agree with that or not, its like what he is saying is true of one reality, but that is not the current reality.

 

This isn't the America where the middle class could shoulder the burden, that middle class existed at one time, but the middle class is a hollow shell of what it once was.  Most of what we would call the middle class is an illusion created by debt.

 

The reality that he talks about is one in which we need to do this or need to do that, but its built on the same illusion that our view of the middle class is.   We in truth can't do this or that.  Health care, social security, unemployment for 25%, war around the globe.  We can't do that because we are broke.  We are not a nation in the bloom of a industrial/technological expansion, we are an end of empire nation.  We make the mistake that the British Empire did in thinking they could afford a war with Germany in 1914.  We'll come the the same ruin if steps aren't taken to shear this sheep, I don't think the people are ready for that or yet accept the reality.

 

 

 

 

 

 

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Senior Contributor

Re:thanks for agreeing and

showing your lack of iq at the same time ---glad you agreed with my post about the taxes crafty

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Senior Contributor

Re: hey crafty

how much do you know about whores --aint this fun

Highlighted
Veteran Advisor

Re: Hard to argue with

I have to agree with Kraft on the first paragraph. The actual tax rate for the rich is almost a non-issue, they have so many loopholes and special deductions that their teams of lawyers find for them. I don't know if I can fault Romney or Buffett, for just following the law as it is written, but what they pay compared to what they earn, compared to the average Joe, is a sign of something that needs to be fixed.
Highlighted
Senior Contributor

Re: Hard to argue with

First of all, one must really get over the Buffett and his secretary's taxes.  Buffett is paid a wage last I knew of 100K a year.  He's paying every bit as high if not higher tax bracket on this 100K.  The lower percentage that everyone wants to try to put in there is investment income which is income from money already taxed.  This is why investment income has a smaller tax rate.  Take a traditional IRA and a roth IRA into account.  The traditional IRA is tax deferred meaning money going into it isn't taxed.  When the person draws from that account, they are then taxed.  The roth IRA has money going into it that has already been taxed, thus when one draws it out they don't pay any taxes on it.  Maybe roth IRA's should be treated the same as Buffett and Romney's investment income with the 14% rate?  Or, should they just get taxed in whatever bracket they are in even though the money's already been taxed once?  How do you think the middle class would swallow this news?

 

The only reason Buffett wants investors to pay higher rates on investment income is because he wants to be able to write off losses greater than 3K a year.  It would have worked out brilliantly for him a few years back.  He could have manipulated his taxes to the point where he wouldn't have paid a single cent in taxes the past couple of years.  

 

I agree there are too many loopholes and special deductions, but I don't agree that they belong to those who are rich from investments.  They belong to each and everyone of us along with every other business out there in terms of accelerated depreciation and such.  I'm getting so sick and tired of reading about all these subsidies certain groups get only to find out that they aren't subsidized but rather get special tax deductions.  Considering roughly 47 percent pay no federal income taxes, it's fairly easy to assume the average Joe isn't adding much to the fed. balance sheet.