Democrats set to impose largest tax hike in history, take $2,000/year from you

Since the income tax was implemented, the people at the top have seen their taxes cut by 2/3 while the rest of us have seen no net reduction in our taxes in that same time. The rich have been gaming the system for nigh on a century now, Bush's largess was simply the latest round.

 

Do you disagree that having a larger and larger percentage of every tax dollar going to debt interest payments is a bad thing?

i disagreed with your 'grandchildren' comment. cant talk now thought. got to go

 

But they are essentially the same thing, though one is a more human way of looking at it. If the portion of your tax dollar going to debt continues to increase, then basically your kids (and grandkids) and going to be paying a huge portion of their annual taxes just to pay off interest in the debt we're accumulating today.

 

so 40% is not enough, I should be paying 50%, 60% then?

 

Given our deficit and debt situation, I would argue that we ALL need to be paying more.

 

I think if you're paying 40% in Texas you're either not very good at math, you're including a whole bunch of other taxes, or you need a new accountant.

 

I am all for cutting out some pork, we all pay enough taxes.

 

I don't live in Texas, and I have a very good accountant, but I don't cheat on my taxes.

 

DB:

Saw your post in the other thread to support 40%. You get a passing math grade

But most people in that bracket would get a bunch of deductions (mortgage, retirement accounts etc) plus investment income would not be subject to the same rates. You're painting a 'worse case' scenario.

I'm also not sure it's fair to include SS since you'll collect on that -- eventually. (maybe).

How does this rate compare to other Western industrial nations?

 

Hilarious. Glad to see the Repubs have found their principles again. Too bad this newfound fiscal responsibility os couched in lies...

The Dem Budget supports the extension beyond 2010 of the middle class tax cuts, the child tax credit, and the marriage penalty relief.

The Budget is subject to the Pay as You Go standards, something the Republicans intentionally let lapse in 2002.

The Dems budget does not raise taxes. It does not extend the irresponsible Bush tax cuts.

Furthermore, the Dem approach is much more honest then the President's, whose budget would actually increase taxes in the form of fees, including raising fees Vets have to pay for health care and additional tiicket fees to pay for air traffic control.

 

But let's not forget all the deduction I can't get a lower income bracket do get. For example I pay 21K a year for my daughter's daycare, its almost complete non-deductible, I get almost no extra deduction for dependent children. As for retirement deduction, there is a hard cap on how much you can contribute no matter what income.

It is the worst case scenario, the income tax hits people who are trying to accumulate wealth the hardest (people working their a** off), once you accumulated enough wealth then it doesn't affect you much. But we don't tax wealth, we tax income.

 

We pay less than $4,000 per year. Maybe you should find a reasonable daycare and bank enough for a new car every year.

 

Maybe you should try daycare that doesn't serve caviar cookies and champagne to children.....

 

You live in an alternative dimension.

 

I'm sorry, but no matter how you slice it, that's a tax increase. You can debate whether there should be tax increases or not, but don't spin it with the Democratic talking point language.

 

I know its outrageous, but that's the going rate around my area. Sometimes I wish my wife would just stay home with the kids.


Like I can actually force my wife to quit.

 

I know people who pay more than that for their dogs

 

I say let's raise taxes just enough to pay for this bloody effing stupid war the Republicans raced to get us into and refuse to get us out of. And target the Republican base with these "one off" taxes. Ya know the wealthy people who have been getting tax breaks while we are at war.

Tie the tax increase with the troup redeployment schedule and see how many Repubs actually want this war.

 

The republicans want our citizens to pay for everything privately. I think we should make everyone for the this war like Basso pay for it out of their own pockets.