FACT: Obama's Middle Class Tax Cut Puny Compared to Bush's Tax Cut

[Trinity]

Sorry but if you are buying Obama's mess - you've been fooled. This is one of the best articles on Obama's Tax falsehoods and his economic polices that aren't working.

1. A third of what Obama calls tax cuts are actually handouts given to those who pay no income tax.

2. The tax burden of the rich actually went up under Bush's tax cuts.

3. Obama's tax cut is a one-time, two year reduction whereas Bush's middleclass tax has been in place seven years and Obama says he won't rescind them.

4. Temporary tax cuts to many who don't pay taxes didn't do much to generate job-creating consumer spending since the top earners were left out. 3 million jobs have been lost since the stimulus was passed.

5. Obama's ill conceived economic policies moved resources from the wealth producing private sector to the mess that is the public sector.

6. Obama's added taxes have already started and will continue to increase to fund his progressive "hole in the bucket" agenda.

7. The Tea Party is telling Obama that Spending must be cut because the rich can only cover so much of the massive debt Obama is racking up before the middle class is forced to suffer a Value added tax on every part of production of goods. Stop the madness.

Obama tax cut puny by comparison

 

[B_talltpaguy]

There is already a thread on this topic. Mods should merge it.

 

[Industrialsize]

FACT: the OP is an OPINION piece by Jay Ambrose, a RIGHT WING syndicated columnist.

 

[Trinity]

FACT: the OP is an OPINION piece by Jay Ambrose, a RIGHT WING syndicated columnist.

You must also down rank the liberal Op-eds Paul Krugman writes for the New York Times.

 

[mikeyh9in]

This is hilarious...

I love the part about the wealth producing private sector... do you mean the same sector that played the world economy like a game of craps in Vegas and then when the dice came up snake eyes, begged the US Government for a 700 Billion dollar bailout?

Believe me, the rich can afford to pay a little more in taxes.

 

[Industrialsize]

You must also down rank the liberal Op-eds Paul Krugman writes for the New York Times.

See the thing is, I don't post OPINION pieces and label them as FACT.

 

[Sergeant_Torpedo]

Biggest tax cut on large penis support group site. Shows you how Republicans can't think of anything unless it is connected with easy money.

 

[Trinity]

See the thing is, I don't post OPINION pieces and label them as FACT.

The facts in both columnists' commentaries are easily understood. If you wish to refute the facts...by all means - do so.

 

[B_talltpaguy]

You must also down rank the liberal Op-eds Paul Krugman writes for the New York Times.

That's right genius, he is also an OPINION writer for the most part, and should also be portrayed as such.

See the thing is, I don't post OPINION pieces and label them as FACT.

Then report it back to the Admin, so that posting rules can be modified. Members should not be permitted to just make shit up and misrepresent professional writers, one way or the other.

That this thread exists as it does indicates that there is a failure in the way the site is being operated, as much as it indicates that Trinity fails as a contributor to the site.

 

[B_VinylBoy]

In translation... the author is just pissed that he didn't get as big of a refund he wanted, so he created an opinion piece venting his frustration. LOL!!!!

 

[TurkeyWithaSunburn]

Wasn't she just bitching about the deficit a few threads ago? Bush's tax cuts added to the deficit, but now they are best thing since sliced bread?

And Paul Ryan supports an 8.5% "business consumption tax" which is nearly a VAT.

consumption tax - Business & Money Definition

The idea of a consumption tax in the United States picked up steam in early 2003 when President George W. Bush and his Council of Economic Advisors backed it

Well since the Republicans now support consumption taxes. A VAT can't be so bad, unless Democrats support it then it's just downright wrong.

 

[B_talltpaguy]

^Hypocrisy is irrelevant to the clinically insane.

 

[Trinity]

Wasn't she just bitching about the deficit a few threads ago? Bush's tax cuts added to the deficit, but now they are best thing since sliced bread?

No. The comparison compared how Bush helped the middle class compared to Obama's puny tax cut and a clarification of the tax burden increase of the Rich under Bush.

And Paul Ryan supports an 8.5% "business consumption tax" which is nearly a VAT.

Well since the Republicans now support consumption taxes. A VAT can't be so bad, unless Democrats support it then it's just downright wrong.

Obama has already broken his promise not to raise taxes on the middle class, but a VAT tax or a National Tax or any other taxes would be his "read my lips moment." Not that he needs one...the majority of Americans already feel the Nation is moving in the wrong direction.

Obama and his people are talking about a VAT on top of all the other taxes. Under Paul Ryan's plan, the 8.5 percent business consumption tax would eliminate taxes on capital gains and dividends and replace the current anti-competitive corporate income tax.

He would also replace our current anti-competitive corporate income tax - the world's second-highest, at 35 percent - with an 8.5 percent business consumption tax (essentially a value-added tax), and eliminate taxes on capital gains and dividends. Although not everyone agrees with this particular approach to business taxation, Rep. Ryan understands that we must bring our corporate taxes in line with those of our competitors if we want to increase economic growth and create more jobs.

Cato.org

 

[B_talltpaguy]

^You're so funny.

 

[TurkeyWithaSunburn]

*clip* current anti-competitive corporate income tax. *clip*

Yes the current corporate income tax is just so outrageously high. Mega corporation GE makes a global corporate profit of $10,800,000,000 (that's 10.8 billion) but pays no US income tax, it paid -10.5% tax. That is just SOOOO insanely high.

GE: 7,000 tax returns, $0 U.S. tax bill - Apr. 16, 2010

So much for whining about all those citizens who don't pay taxes.

 

[B_RedDude]

So

FACT: Obama's Middle Class Tax Cut Puny Compared to Bush's Tax Cut

 

[B_VinylBoy]

And given the current states of the economy when both Presidents issued their tax cuts, does this surprise ANYONE with a brain? Or have some rabid conservatives become so desperate to stick their tongues out at Obama supporters that they would put up such a putrid argument?

What's next? You want the two men to put their dicks on a table so you can see who is larger?

 

[B_talltpaguy]

So

FACT: Obama's Middle Class Tax Cut Puny Compared to Bush's Tax Cut

Are you advocating that Obama and the Dems should lower middle class taxes even more?

Ok, let's do it!

 

[Industrialsize]

^You're so funny.

That's my line.........

 

[Trinity]

Yes the current corporate income tax is just so outrageously high. Mega corporation GE makes a global corporate profit of $10,800,000,000 (that's 10.8 billion) but pays no US income tax, it paid -10.5% tax. That is just SOOOO insanely high.

GE: 7,000 tax returns, $0 U.S. tax bill - Apr. 16, 2010

So much for whining about all those citizens who don't pay taxes.

GE is one company. But even in this instance the points made by Paul Ryan's plan stand. Didn't you even read the article? The corporate income tax is high.

Corporations typically face a 35% federal income tax on their earnings. Thanks to its deductions and adjustments, GE reported an actual U.S. federal income tax rate of negative 10.5%. It got to add a "tax benefit" of $1.1 billion back into its reported earnings.
"This is the first time in at least decades that GE has reported negative U.S. pretax income and it reflects the worst economy since the Great Depression," Anne Eisele, GE's director of financial communications, said via e-mail.

CNN Money