Cenk's 'Shared Sacrifice' Tax Plan (W/ Poll) | 48 comments (48 topical, 0 hidden)
who's high? (none / 0)
So, who is going to pay for this mess?

I guess people should have thought about that before running up massive debt. Once that happens, you have pretty much given up your say in the matter.

The truth be told, most modern inventions are a result of government funding and the ability to share the collective knowledge. In addition, most health ailments and cures are a byproduct of mans collective activity.
 
Our massive military expenditures are not a result of defending the country and the many, but rather a result of protecting the imperialistic desires of the few. Taxes should be based on wealth. Those with the greatest ownership and influence have the most to lose and gain, as well as have done the most damage.
It’s time to pay up.

by sisco66 on 03/26/2009 05:52:15 PM EST

That reminds me (none / 0)
I forgot to mention the Capital Gains tax which used to be much higher than it is today.

Obama's proposal to increase it by 5% to 20% is met with frantic cries of socialism and whatever other pejorative words you can think of, despite the fact that 20% is much lower than it was under the beloved (by the right) Ronald Reagan who had effectively raised it from 20 to 28% for the top income earners.

Apparently Eisenhower (and to a lesser extent Reagan, see payroll/capital gains tax) were socialists too.

by Tom Hanc on 03/26/2009 06:03:30 PM EST

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steady now (none / 0)
I say we extend the 0% capital gains tax for those in the 15% income tax bracket to those making under $100K. After 100K, I authorize ihavenobias to move it back to the 20% tax.

Call me a fool, but I'm hoping on making some money on these flailing companies.  Just doing my part to spread that Obama hope in reviving our economy!

by rev24 on 03/26/2009 06:49:40 PM EST

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Fair enough (none / 0)
And while we're at it, let's include a flat tax in our system since cons and libertarians love it so much.

Of course I'm referring to eliminating the cap on the payroll tax (currently under 100k or so). You want to fix social security in a pinch, do that and you can even cut the tax % in half to what it was prior to Reagan's doubling of it.

That way Bill Gates can pay the same percentage of his income on it as you and I do.

by Tom Hanc on 03/26/2009 07:03:09 PM EST

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Roth IRA (none / 0)
If you have your money in a Roth IRA you never pay capital gains taxes. If it is in a 401k or other similar retirement account, it is tax deferred and treated as income when you retire. More than likely, you are not paying more than 20% now, and won’t be then.  


This is the biggest straw man argument that the right wing thieves have. The reason our 401ks and Roth IRA’s got wiped out is because of the low tax rates on capital gains, dividends and hedge funds. We don’t need to promote that type of investor at the expense of our retirement accounts and federal budget.

by sisco66 on 03/26/2009 09:13:43 PM EST

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Good point (none / 0)
They make so many tax arguments by suggesting that the middle class will be hit hard, when in fact (more often than not) THEY'LL be effected, and marginally at that.

Kind of like how they pretend all of these small farms get screwed by the Estate Tax.

by Tom Hanc on 03/26/2009 09:23:36 PM EST

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not even the half of it (none / 0)
The Clinton surplus that Bush took over was all social security money, yet he used to give a massive tax break to people who don't pay or pay very little social security tax. Just another huge point that our media completely covered up.  

Ya, inheritance (death tax) is another one. If you do any estate planning most of it can be avoided for the majority of tax payers.

Of course, most of the arguments and fear tactics the right wing nuts use are in fact the opposite of what is said, if not completely meaningless all together. My favorite is the complete disconnect between supporting a huge military and actually having to pay for it.

by sisco66 on 03/27/2009 07:20:55 AM EST

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You mean (none / 0)
like cutting taxes during a time of war?

by Tom Hanc on 03/29/2009 08:44:09 PM EST

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Among other Things (none / 0)
How hard would it have been to tell the chest pumping flag wave morons that if that supporting the troops means paying for the war?

That the dems own fault for not framing the argument. Of course the media is always happy to frame every argument from the right wing perspective, with no supporting facts or context.

by sisco66 on 03/29/2009 09:19:37 PM EST

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It should have been easy (none / 0)
The Dems failed miserably in framing the issue!

by Tom Hanc on 03/30/2009 01:03:41 PM EST

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funny how (none / 0)
...the right is trying to dump the wars on Obama. Just like Serbia with Clinton, now they want to oppose the war in Afg.

I hate it all.

by sisco66 on 03/30/2009 06:43:41 PM EST

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Whatever serves their needs (none / 0)
They really the party of no.

by Tom Hanc on 03/31/2009 08:44:58 PM EST

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Cenk's 'Shared Sacrifice' Tax Plan (W/ Poll) | 48 comments (48 topical, 0 hidden)