Comments for Tax Expert: McCain’s Tax Cuts Are Aimed At The Rich ‘Even More So Than Bush’s Were’ »
Posted By bluetexasvalley 1 year, 3 months ago in NewsIn 2001 and 2003, Sen. John McCain (R-AZ) opposed President Bush' s tax cuts, arguing that he couldn' t "in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us." But since then, McCain has ditched his concern about policies tilted towards the wealthy and now wants to double Bush' s tax cuts .
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bluetexasvalley1 year, 3 months ago
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FTA:
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In their more candid moments, McCain’s supporters admit that he is doubling down on Bush’s tax policies. In May, House Minority Whip Roy Blunt (R-MO) said that McCain’s “tax policies” would “be in effect a third Bush term.” Sen. Lindsey Graham (R-SC) told ABC News in June that McCain’s policies would “absolutely” be an “extension” and “enhancement” of Bush’s.-
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Goppy1 year, 3 months ago
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I was listening to a news report about some study that sliced and diced the two candidates tax plans.
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In Obama's plan, 80% of the nation would pay LESS on taxes.
In McCain's plan, 20% would pay less taxes ... the Super Wealthy.
McCain is sticking by this, even though it's simply More of the Same Trickle Down Economic Ideologic Theory that has been debunked EVEN BY THOSE WITHIN THE REPUBLICAN PARTY! ! ! (Namely Bush Number One.)
The astonishing thing is .... MILLIONS of Americans will fall for this. The Middle Class .... holding on to the American Dream of living in a comfortable home and sending their kids to college are DESPERATE for relief.
They look at McCain and they think ... "Well, Johnny Shapeshifter says Obama is going to cost us money ... and Johnny Shapeshifter says that POSSIBLY .... if we pray and always vote Republican .... they promise that a little bit of fairness MIGHT POSSIBLY Trickle Down our way so we can send our kids to college .... as long as none of us gets sick."
It's so pathetic. ... It's so sad. ... Nothing has EVER Trickled Down. ... It has NEVER HAPPENED ... and it NEVER WILL happen!
When, oh when are Americans going to understand that the Super Rich have their hands in Washington DC's pockets ... they help write the ding dang finance laws ... ! ! !
Look, McCain is simply building upon all the talking points of George W. Bush to get elected. It worked for GW .... Johnny Shapeshifter wants it to work for him.
On the other hand, Obama is building upon a lifetime of helping Middle Class Americans in the city of Chicago and in the State of Illinois .... and once a Senator .... all of us ... and our children fighting in Iraq.
But be prepared ... my fellow Christian Conservatives will say 'all Obama wants is Transfer of Wealth'.
Well ... the obvious answer is THERE ALREADY IS A TRANSFER OF WEALTH GOING ON!
The Bush Administration has been transferring wealth FROM the Middle Class TO the Super Rich for 8 years!
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Question:
What do Republicans / Neo-Cons stand for?
Answer:
Welfare for the Wealthy and Subsidies for Corporations.
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miklkit1 year, 3 months ago
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You are right. Voodoo economics has not worked. It has been tried and tested for a total of about 20 years. It just does not work. Here are some charts that show this.
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http://www.brillig.com/debt_clock/faq.html -
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Goppy1 year, 3 months ago
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Ooops!
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It's all right there in the story that btv was kind enough to submit.
Thanks!
I hope Americans begin to understand the differences between these two candidates.
The tax plan of Barack Obama is very similar to the tax plan of Bill Clinton ... when our nation created 22 MILLION jobs.
The tax plan of Johnny Shapeshifter is very similar to George W. Bush .... when our nation created 5 Million jobs.
Trickle Down Economics DOES NOT WORK!
Hopefully, enough Patriotic Americans will step forward and put an end to the Moral and Economic Travesty known (laughably) as Trickle Down Economics.
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Endoscopy1 year, 3 months ago
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ROTFLMAO
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Obama's plan 80% of the nation would pay less taxes. What a crock. Who is goint to pay for all of those programs that he intends to pass. Either the deficit will go out of site or they will try to tax the top 80% at 100% and watch the tax revenues dry up. This is a very liberal rag and a bunch of liberals are talking about how great it is.
What a group.-
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Goppy1 year, 3 months ago
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Now wait a minute Endo .... you never voiced any concern about who is going to pay for GW's MASSIVE DEFICIT SPENDING.
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As a Christian Conservative, I would think you would be UTTERLY DISGUSTED that George W. BLATANTLY LIED to you about being a Fiscal Conservative.
Look ... all ANY president has to do is spend LITTLE less than the SPENDINGEST ADMINISTRATION OF ALL TIME .... and they can afford Health Care AND Medicare .... WITHOUT having to borrow TRILLIONS from the Communists in China.
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davidhallstromComment removed: Spammer14 Replies
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Endoscopy1 year, 3 months ago
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You will never get more out of the rich by raising their taxes. Why can't you understand that. Do you think they are stupid? They have tax/investment lawyers who will make sure that over a certain amount will be put in tax havens. The lower the tax rate the more comes out and works more for them and that then increases the tax revenue. The higher the tax rate the more they put in protected havens and the less is out working for them. That causes less tax revenue.
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OK lets tax those horrible business that are just in business to make that filthy money. Raise their taxes and they have increased the costs. That is what a tax is to a business. Then they have to increase the costs to their customers. They pay the taxes not the business. Is that hard to understand.
But what is the liberal mantra. increase the taxes on the rich and businesses since they can afford it. Then tax revenues go down from the rich and costs go up to customers of the businesses. That causes inflation. Is this the result you are aiming for?-
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flyonthewallzz1 year, 3 months ago
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Hello Endoscopy:
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I guess I am one of those screaming liberals.
I have spent a fair amount of time trying to justify my thoughts and even attempted to look at data with an open mind.
Here is a thought experiment if you choose to take it on:
Pick a company, divide there tax costs by their receipts, (all the finance page publish this information).
The result will be about the cash register cost to the consumer for corporate taxation.
I come up with about a penny on the dollar.
How much would that change if the tax rate went from 35% to 25%?
I think not much.
I would love it if this government spent less.
Have you looked at where most discretionary spending is going?
Have you looked at your kids pay stubs and wondered why they can not afford to move out of the house?
I could be way wrong but I honestly think that hard working folks are shouldering an unfair amount of the burden.
Nothing wrong with getting or being rich, but the system should at least appear to seem fair.
Before World War 2 they did not take a penny from poor folks, now 3/4s of folks pay more in Social Security than they do in taxes. And that amount of money represents a huge percentage of government receipts.
I hope I have not spoken disrespectfully.
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Ratskii1 year, 3 months ago
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/mt_rushmore_and_a_histor...htm">http://www.liebertpub.com/pgtoday/pgt/articles/mt_rushmore_and_a_histor...htm
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Here are some thoughts on the estate tax by Thomas Paine, Andrew Carnegie and Teddy Roosevelt.
And please note that sales tax represents double taxation too. -
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fsev411 year, 3 months ago
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I would like to know how many NEW jobs were created by the McCains wealth or Exxon-Mobil last year. I've always been told that it's the small business and entrepreneur start-ups are the new job builders. Now they're saying big business and wealthy folks create jobs. Who're you to believe?
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beavith11 year, 3 months ago
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uninformed twits. the top 10% of earners already pay 70% of all income taxes.
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fairness? what'd be fairer? when those top 10% earners pay 100% of all income taxes?
O's plan is nothing more than a Robin Hood plan. and in the process he tags small business owners, too.
reducing, even eliminating, capital gains taxes is good for everyone, yet O 'asks' the 'wealthy' americans to pay just 5% more. you DO realize that many people's retirement is based on capital gains income, right?
O's literally running down the people that he' says he's protecting. yet, all most of you can do is whine about how much the corporate fat cats and plutocrats (i like that one :) ) make. i;ve got an idea... get a freaking job. improve yourself. show some backbone and demonstrate some ambition. step one. quit with the jealousy BS.
can i get an amen?-
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Goppy1 year, 3 months ago
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LOL!!!
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I notice that you can't seem to post a comment without some sort of insult.
That is nearly ALWAYS the sign of someone under the thumb of Rush Limbaugh, or Melanie Morgan, or Bill O'Really, or the HUNDREDS of similar Talking Head Info-Tainers!
LOL!!!
We all appreciate your deference to the 'poor .... overtaxed .... wealthy' .... I'm actually laughing out loud at your comment, btw.
Let me ask you a question ... if the Rich are being taxed so unfairly ... how is it then that the chasm between them and the middle class is WIDENING for the last 8 years?
My poor, uninformed, jingo slinging friend .... even Warren Buffett is embarrassed that he pays a LOWER tax rate than EVERY ONE OF HIS EMPLOYEES!!
LOL!!!
By the way ... I really don't expect an answer from you any time soon .... I'm sure you'll need to run to your well worn copy of 'The Rush Limbaugh Notes on Debate" to defend the Extremist Christian Conservative Moral Vacancy that you are dittoing.-
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flyonthewallzz1 year, 3 months ago
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That is not completely true!
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In 1983 revenue dropped about 3% or $17 B (in spite of the $12 billion windfall profit tax he collected that year)
In 2002 revenue dropped about 7.5% or about $243 B from 2000 until 2003 (Corporate tax represented about 8% for that year)
I have not found the Kennedy stuff but it is worth noting that corporate tax was more than double and the top rate was 91% of income over $400G
I know I am not arguing fair, but neither are you.
I would not mind looking at this stuff more objectively, without the polemic BS.
I am not saying give poor folks more; I just think it is right to take less.
I think they would buy more stuff and that would help business.
I think history and numbers show that the ball was dropped and all the gifts did not increase employment or raise the quality of life for the average American.
I think I understand the logic of the argument, but I can not find good number to back it.
Look at median income adjusted for inflation.
You have to have a “real” hand to vote.
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beavith11 year, 3 months ago
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yeah. you're right. i probably should lighten up. the more of the silly dem platitudes i read here, the nuttier i get.
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actually, i haven't listened to Limbaugh for about 10 years, and never regularly. don't specifically watch fox either, except when i'm surfing past.
not religious. at all.
i'm probably pretty rare. the wild free range fiscal conservative. maybe my MBA and science degree make me persnickety.
anyway.
the term 'wealthy' applies to the folks that climb into that stratosphere and the others that drop out. its a wild region to get into and its hard to stay there. what your dem masters rail against is the inherent unfairness of being a high achiever. that drives me crazy too. why be jealous of your neighbor? they probably are wealthy. its beneath us as americans. blaming Bush for the spread is simple, cheap and wrong.
as for Warren Buffett, he's got so much money, it doesn't matter to him what he pays. if he feels guilty, the US treasury accepts donations. maybe Warren should just STFU and speak for himself. O asks me to kick in extra money? nah. i gave at the office.
don't be so sure about that Christian Coalition baloney. they irritate me too.
hey Goppy. get a clue. you're so wrong, i don't know where to start
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flyonthewallzz1 year, 3 months ago
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Corporate taxes cost the consumer about 1 penny on the dollar (less for big ticket items).
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Your numbers do not include Social insurance payments
More than ¾’s of the folks in this country pay more into SS than they do into personal income tax.
If the first $15 grand of earnings where not withheld from our paychecks, a person making $8 bucks an hour would have an extra $2,400 in their pocket.
If corporate tax stayed the way it is: the person would lose $24 buck of purchasing power when they spend that extra money.
The person’s employer would also save about $24 bucks a week per employee.
In 2003 Social insurance contributions represented 40% of government receipts.
There are a lot of hardworking folks just trying to get by.
Do you really think this is fair?
If you totally doubt my numbers, I think I can find links to the spreadsheets, They all come from the IRS or the White House.
I get that nasty spam message when I post links lately: 04co16ccr, 05in21id.
And from the White House: Receipts.-
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Endoscopy1 year, 3 months ago
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Every dollar of taxes that a corporation pays the increase to the customer is that usually that same dollar. How much increase to an individual depends on what the business is selling and how much it costs.
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Half of the people pay 3% of income tax. The business pays half of that SS money
I have done some quoting for my comp[any. They look at what an employee costs the company. That includes salary and all benefits, SS and everything else. They are burdened with the costs of doing business so each revenue earning employee is burdened with the costs of the overhead employees. That includes the taxes paid to any government. Then when a customer is given a quote that uses a persons time they charge all of that burdened costs to come up with an hourly amount to charge a customer for that persons service.
You would be shocked to learn what a worker has to earn for the company to break even with that person's burdened cost to the company is.-
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Goppy1 year, 3 months ago
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This is precisely the reason that businesses ... large and small ... WANT a National Health Care Plan.
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These companies are in competition with EVERY SINGLE INDUSTRIAL NATION IN THE WORLD in which companies don't have this expense.
Unfortunately, the Neo-Con Ideology is so crazy, so UN-pragmatic, so Morally Vacant, they have made it their Mission to make Health Care such that only the wealthy can afford ... it's a sort of bonus prize for a game well played.
And Christian Conservatives share this view almost universally across America. American Christians work hard for Republican candidates PRECISELY because they want to punish the 47 Million Americans who cannot afford Health Insurance for not being rich enough.
I presume you share this Perverted Christian Ideology ... based upon your previous commentary.
Sad. -
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flyonthewallzz1 year, 3 months ago
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Maybe not as shocked as you think.
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I figure it costs about the same to have someone on the floor as they are getting paid in wages.
I think both parties are dancing around it, and there are truth and lies on both platforms
The folks that spend our money would have to have a serious bout of conscience before they gave up the withholding tax cash cow.
The SS tax contributions of a minimum wage worker are double the $1200 economic stimulus package given to families.-
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flyonthewallzz1 year, 3 months ago
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And regressive.
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And that money is covering almost half of the national dept.
It is the biggest social program in the world.
I am not sure what you mean by an epiphany?
the history of income tax was to fund wars, and the tax usually kicked in after a certain amount of money to live on was earned.
I think it is fair for some folks to say we should spend less on social stuff, but in the same light, it is also fair for folks like me to say we should spend less on military stuff.
Not counting "emergency" appropriations or SAPs the current administration has increased spending by more than $1.14 trillion.
Spending has pretty much doubled across the board.
Revenue has increased by about 1/2 that ($515 B).
Social insurance contributions represent almost 1/2 of the increase ($221 B).
I am comparing numbers from 2000 and 2007.
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wtagg1 year, 3 months ago
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Ironically, socialized health care would reduce the benefit payment to employees significantly for corporations. What is the average health care benefit does your company pay for each employee, $4k, $5k, $6k?
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Isn't it interesting that one of the mantras of the republicans hurts corporations? -
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Endoscopy1 year, 3 months ago
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The latest economic news for the last quarter is out. The economy is up despite the gloom and doom liberals, the increased gas prices and the housing bust caused by our friendly neighborhood liberals
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But that seems to be bad news to the Democrats because they are still saying how bad things are.
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