WSJ: Soaking the rich, the Bush way

Nope they generally just bid up the price of coastal real estate, fine wines and private school tuition.

 

So you believe that since the stock market rose the last two years, and tax cuts happened, then there is a cause and effect relationship?

Do you also believe that, since the stock market rose after Bush Sr. and Clinton tax increases, then the stock market rises after a tax increase too?

If not, then its up to you to provide more substance than just saying "cause and effect".

By your standard, we could also argue that 9/11 is directly Bush's fault. After all: No 9/11 under Clinton. Bush gets elected -> 9/11 happens. Must be cause and effect.

 

I don't know all the fact but here are my suspicions. The rich are paying more taxes because they are gaining a larger percentage of the wealth.

Another thing to consider is that by introducing the long term capital gains tax reduction, alot of people have pulled out investments that they normally would have not have. Also a factor is the fact that dividends are taxed lower so many companies such as Microsoft issued dividends for the first time which increase tax revenues for the rich.

I have no problems lowering taxes as long as we cut spending also. However we have a war to finance and no one is willing to make any financial sacrifices.

 

LOL. NOW thats comedy.


You have nothing to grasp onto, so you start jibbing at sentence and grammer. Only to be humiliated at your own lack of understanding.


Tessy, you are the pinnacle read when it comes to sheer laugh factorism.

 

More like "sucking the rich."

 

Republicans Set Aside Middle-Income Tax Cuts to Focus on Rich

By Ryan J. Donmoyer

May 8 (Bloomberg) -- Republican lawmakers, facing the prospect that their power to cut taxes may soon be curbed, plan to extend breaks that mostly benefit the wealthy and Wall Street at the expense of reductions for middle-income households.

Six months before elections that may return a Democratic majority in at least one house of Congress, Senate Majority Leader Bill Frist of Tennessee and House Speaker Dennis Hastert of Illinois are focusing on extending the 15 percent rate on investments and repealing the estate tax. They won't push extensions of lower rates for all taxpayers and expanded breaks for married couples and families with children, which expire after 2010.

``In politics, timing is everything; you do what you can when you can, and this is what's queued up right now,'' says Arizona Senator Jon Kyl, the No. 4 Republican in the Senate. Given the federal budget deficit, it would ``be hard to generate public support overnight'' for making permanent the other tax cuts, he says.

Democrats say the Republicans are favoring tax breaks that do little for middle-income Americans; 50 percent of all U.S. households earn between $26,859 and $120,100, according to the Tax Policy Center, a nonpartisan research institution in Washington.

``Even in an election year where they are losing popularity nationwide, they've chosen to pander to their base of rich donors and leave the middle class behind,'' says Representative Charles Rangel of New York, the senior Democrat on the tax-writing House Ways and Means Committee.

http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aUuyWDCDyRIk