Perry throws in the towel

[David Newman]

Rob, to be fair, taxes needed to be reduced across the board. What we've been doing in both parties for the last 40 years is insanity. Trading tax breaks back and forth between the rich and middle class. We need to get our collective heads out of our asses and reduce taxes for everyone to increase aggregate demand to a level that supports full employment. Anything less is unacceptable.

Also, I am far from rich and benefited significantly from the Bush tax cuts.

[Charles]

Originally Posted by David Newman

Rob, to be fair, taxes needed to be reduced across the board. What we've been doing in both parties for the last 40 years is insanity. Trading tax breaks back and forth between the rich and middle class. We need to get our collective heads out of our asses and reduce taxes for everyone to increase aggregate demand to a level that supports full employment. Anything less is unacceptable.

Also, I am far from rich and benefited significantly from the Bush tax cuts.

Since you're obviously so knowledgeable about money and economics, howcome you ain't rich???

Sorry, couldn't help myself.

Chas

[Bigerik]

Originally Posted by David Newman

Rob, to be fair, taxes needed to be reduced across the board. What we've been doing in both parties for the last 40 years is insanity. Trading tax breaks back and forth between the rich and middle class. We need to get our collective heads out of our asses and reduce taxes for everyone to increase aggregate demand to a level that supports full employment. Anything less is unacceptable.

Also, I am far from rich and benefited significantly from the Bush tax cuts.

I don't think anyone has an issue with tax cuts. I think they were bad form at the time, with massive spending increases due to the "war".

[merrylander]

Originally Posted by David Newman

Rob, to be fair, taxes needed to be reduced across the board. What we've been doing in both parties for the last 40 years is insanity. Trading tax breaks back and forth between the rich and middle class. We need to get our collective heads out of our asses and reduce taxes for everyone to increase aggregate demand to a level that supports full employment. Anything less is unacceptable.

Also, I am far from rich and benefited significantly from the Bush tax cuts.

Don I was making six figures and all I got out of that tax cut was enough to buy two packs of Marlboros a month,

I agree now is not the time for tax increases, though 15% for Mitt and his ilk is rediculous*. But when Bush was in it was "good times" for a while and is that not when we are supposed to pay down the debt? Instead he pissed it away.

BTW I will submit to you that the brief period when America was truly a meritocracy existed from 1946 until approximately 1968 or thereabouts. The top 1% in the 20s were even greedier than the current lot.

*Just don't bump it right away as I just sold a bunch of stock options that I had forgotten about until UBS called me.

[David Newman]

Originally Posted by Bigerik

I don't think anyone has an issue with tax cuts. I think they were bad form at the time, with massive spending increases due to the "war".

The tax cuts preceeded the war.

If the tax cuts had not been extended, my family, with a household income not approaching 6 figures would be paying 1500.00 more per year in taxes. That may be a couple of packs of smokes for some, but it's a very significant number for my family.

Granted, the democratic party plan would have saved an additional 100.00, but the Bush tax cuts were important at the time and a solid financial/economic move to help us out of recession. I won't argue that there weren't better options for tax legislation, but it kept a significant amount of money in the pockets of the middle class, especially for married couples children.

Of course, the 15% capital gains tax is available to all of us, just not something that most of us can take advantage of as easily as those with too much money.

The list of things I didn't like about Bush could go for many posts, but the tax cuts wouldn't be on my list.

[David Newman]

Originally Posted by Charles

Since you're obviously so knowledgeable about money and economics, howcome you ain't rich???

Sorry, couldn't help myself.

Chas

Gotta take the shots when they present themselves. Had I known then what I know now about economics, I would have pursued a degree in economics. It's a relatively recent interest of mine.

[Bigerik]

Originally Posted by David Newman

The tax cuts preceeded the war.

If the tax cuts had not been extended, my family, with a household income not approaching 6 figures would be paying 1500.00 more per year in taxes. That may be a couple of packs of smokes for some, but it's a very significant number for my family.

Granted, the democratic party plan would have saved an additional 100.00, but the Bush tax cuts were important at the time and a solid financial/economic move to help us out of recession. I won't argue that there weren't better options for tax legislation, but it kept a significant amount of money in the pockets of the middle class, especially for married couples children.

Of course, the 15% capital gains tax is available to all of us, just not something that most of us can take advantage of as easily as those with too much money.

The list of things I didn't like about Bush could go for many posts, but the tax cuts wouldn't be on my list.

War preparation began on Sept 12, 2001.The tax cuts were before that?

[merrylander]

Originally Posted by David Newman

The tax cuts preceeded the war.

If the tax cuts had not been extended, my family, with a household income not approaching 6 figures would be paying 1500.00 more per year in taxes. That may be a couple of packs of smokes for some, but it's a very significant number for my family.

Granted, the democratic party plan would have saved an additional 100.00, but the Bush tax cuts were important at the time and a solid financial/economic move to help us out of recession. I won't argue that there weren't better options for tax legislation, but it kept a significant amount of money in the pockets of the middle class, especially for married couples children.

Of course, the 15% capital gains tax is available to all of us, just not something that most of us can take advantage of as easily as those with too much money.

The list of things I didn't like about Bush could go for many posts, but the tax cuts wouldn't be on my list.

Well I was paid bi-monthly and my tax break amounted to $5.00 each payday, I have no idea how you got $125 per month.

Excuse me but what Recession? I must have slept through it.

[d-ray657]

Originally Posted by merrylander

Well I was paid bi-monthly and my tax break amounted to $5.00 each payday, I have no idea how you got $125 per month.

Excuse me but what Recession? I must have slept through it.

Not quite sure how many dependents you had then Rob, but there were things like the child tax credit; indexing of the personal exemption that gave families with children a bigger tax break.

Regards,

D-Ray

[David Newman]

Originally Posted by Bigerik

War preparation began on Sept 12, 2001.The tax cuts were before that?

Yessir. June of 2001 for EGTRRA. The extension of that (JGTRRA) that simplified things a bit was in 2003, which may have been where your concern was centered.

In any case, I wouldn't oppose cutting taxes during spending if the conditions call for it.