What do the Bush tax cuts mean to you?

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Here is what it means to me. The Bush-tax-cuts-for-the-rich mean that I pay less taxes. When they went into effect, I got a well deserved tax break. I am not rich by any stretch of the imagination as the media and the DNC would have you believe. So if we are stupid enough to let them expire, then I will get a tax hike which I don't deserve. I did not cause the deficit. I did not fail to show fiscal restraint. It's not my debt. I should not be saddled with it. I have paid more than my share. I already pay more in taxes than I consume. What about you? What is the point anyway? A tax increase will do nothing for the debt. It won't make a bit of difference. So why bother?

So here is my question.

If the Bush cuts are allowed to expire will you pay more, the same or less?

rigel1's picture
rigel1
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Jan. 31, 2011 6:49 am

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I have no idea really. I don't dwell on what I pay in taxes because it's so insignificant in comparison to what I pay in labor. It's much more economically efficient of me to negotiate what my labor is worth with those who pay me than to complain about my country club fees.

Unlike the conservatives on this board I am willing to pay for my freedoms of life and liberty. I am willing to pay for clean air and clean water and police protection and fire protection. I am willing to pay for a healthy society. I am willing to pay for a safer society.

I'm not a free loading conservative who wants to have access to all of those things but not have to pay anything for it. They hide behind the flag and let the patriots do all of the work.

Bush_Wacker's picture
Bush_Wacker
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Jun. 25, 2011 6:53 am
Quote Bush_Wacker:

I have no idea really. I don't dwell on what I pay in taxes because it's so insignificant in comparison to what I pay in labor.

Okay, so score one for someone who doesn't care if his taxes are raised. But I do. Since I am already paying for more than I consume, I have a right to not want to pay more. Right? If the government had even a small amount of respect for the fruits of my labor, I may feel differently. But they don't. Usless programs, excessive waste, duplication, free vacations and luxery items for government workers and now they call me evil and "rich" because I don't want to give them even more of my blood sweat and tears? They don't deserve another penny from me. Not one cent. You are free to pay more taxes if you choose, so go for it. Just don't drag me in with you.

rigel1's picture
rigel1
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Jan. 31, 2011 6:49 am

After a decade can we call them what they are the byah tax rates.

Commonsense461
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Jul. 2, 2012 8:48 am
Quote rigel1:

I have a right to not want to pay more. Right?

"WANT" being the key word in that. You have to right to "want' all you like.

I "want" a small, well managed, efficient Federal Government. Hope is eternal.

Capital.0's picture
Capital.0
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May. 22, 2012 2:21 pm

Unemployed-don't care.

DynoDon
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Jun. 29, 2012 9:24 am

Will we pay more this year, but have less debt that we owe?

Taxes are the cost of a civilized state. If you need freedom try Kashmir.

Phaedrus76's picture
Phaedrus76
Joined:
Sep. 14, 2010 7:21 pm
Quote Capital.0:
Quote rigel1:

I have a right to not want to pay more. Right?

"WANT" being the key word in that. You have to right to "want' all you like.

I "want" a small, well managed, efficient Federal Government. Hope is eternal.

As part of the 53%, I've done more than my share already. How about deserve? Sound better? I don't "deserve" anymore punishment.

rigel1's picture
rigel1
Joined:
Jan. 31, 2011 6:49 am

All of you 'deserve' to pay inheritance taxes, death taxes as you like to say.

My family, who helped start the CIA, had oodles of money.

We paid about 55% of 'our wealth', back into America in the 90's.

Your disgraced President, also from a CIA family, (they were my family's young apprentices), took our money and blew it on a false-flag-black-op war and then told everyone else they didn't have to pay a red cent while they sent our children to a mocked up Arab shooting gallery.

Now we're all broke, and you selfish bastards won't even take care of the ruined lives of your veterans, you won't take care of the sick, the blind, the poor and the naked.

I've never seen such grotesque monsters since my grandfather was the Eichmann of the plan to make friends with Nazis and start killing people of color, word-wide, through 'revolution'.

Fork you all to heil, for what you've done to this Nation.

anonymous green
Joined:
Jan. 5, 2012 10:47 am

If Bush tax cuts expire all people will have less money. This is counterproductive because the government can create any amount of money, being a money-creator, and does not need more taxes to spend.

Mitchell explains this well in

http://rodgermmitchell.wordpress.com/2012/06/14/why-not-increase-federal...

I am copying this from an earlier post of mine as suitable actions for a currency creator.

1. GDP = 5* govt_spending, approx, and govt_spending helps to increase GDP.
2. National debt = GDP, approx but generally GDP can be higher by a fair amount
3. Deficits are highly desirable to grow the economy, considering that there is no inflation risk with so much excess capacity in the economy.
4. Reduction of taxes is good because deficit increases
5. FICA can be eliminated because deficit increases
6. Austerity of states is unnecessary because more money to the states increases demand which is good for private sector growth
7. All university education is a national investment and can be supported fully by deficit funding
USA does not need to depend on taxes to fund anything.
8.(govt-debt /GDP) has no limit being the same as (National wealth/ GDP.)
USA is the wealthiest nation in the world and it is time it started acting like one.
Deficits are the source of $ and taxes are the sink for $ in the economy which is mostly for the benefit of the private sector. Everybody talks in terms of household budgets. (Income = expenses + savings), rather than
(Federal Deficits = Net Private Savings+ net imports), to confuse people! The CBO certainly knows the correct equations.

The govt has borrowed money from itself and given to the people. People own the money and collect interest. They DON'T have to pay any debt back. The govt is in debt to itself (the fed and treasury are the same govt) and has to do NOTHING. All this is called modern monetary theory and is well known to the treasury and fed.
The national debt everyone frets about is not real.

As an aside MMT was familiar to the English poet, philosopher and writer – Samuel Taylor Coleridge in In his essay – On the Vulgar Errors Respecting Taxes and Taxation – which was published in The Friend, No. 12, Thursday, November 9, 1809 and is worth reading in full. This is referred to by Bill Mitchell in
http://bilbo.economicoutlook.net/blog/?p=19649
with title "When a poet knows more than most economists" The essay quote is "I answer without hesitation, that the cause and Mother Principle of this unexampled Confidence, of this system of Credit, which is as much stronger than mere positive Possessions, as the soul of Man is than his Body, or as the force of a mighty Mass in free motion, than the pressure of its separate component parts would be in a state of rest – the main cause of this, I say, has been our NATIONAL DEBT."

http://rodgermmitchell.wordpress.com/2012/02/27/a-think-piece-why-are-rivers-and-roads-like-growing-the-economy/

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pshakkottai
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