General Discussion

Grins

(7,221 posts) Fri Oct 12, 2012, 07:14 PM Oct 2012

Taxing at 100% (Ryan at the debate last night.)

RYAN: Look, if you taxed every person and successful business making over $250,000 at 100% it would only run the government for 98 days. If everybody who paid income taxes last year, including successful small businesses, doubled their income taxes this year, we'd still have a $300 billion deficit.

If that is the true situation, then explain why you want a 20% tax cut. Explain how a 20% tax cut will fix that.

5 replies

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Taxing at 100% (Ryan at the debate last night.) (Original Post) Grins Oct 2012 OP

Yeah, I wondered about that too. I just figured it was more MittSh*tt PDJane Oct 2012 #1

Because they are closing the loopholes and the Job Gods are going Angry Dragon Oct 2012 #2

k&R nt abelenkpe Oct 2012 #3

Fix, SCHMIX! They don't want to do ANYTHING but get more out of the coffers to give the RICH! WinkyDink Oct 2012 #4

This argument is a dodge (deliberate for some... JHB Oct 2012 #5

PDJane

(10,103 posts)

1. Yeah, I wondered about that too. I just figured it was more MittSh*tt

Reply to Grins (Original post)

Fri Oct 12, 2012, 07:17 PM

Oct 2012

Angry Dragon

(36,693 posts)

2. Because they are closing the loopholes and the Job Gods are going

Reply to Grins (Original post)

Fri Oct 12, 2012, 07:18 PM

Oct 2012

to create so many jobs that there will be so many people paying taxes that they will pay off the debt by April 15, 2013

abelenkpe

(9,933 posts)

3. k&R nt

Reply to Grins (Original post)

Fri Oct 12, 2012, 07:27 PM

Oct 2012

WinkyDink

(51,311 posts)

4. Fix, SCHMIX! They don't want to do ANYTHING but get more out of the coffers to give the RICH!

Reply to Grins (Original post)

Fri Oct 12, 2012, 07:29 PM

Oct 2012

JHB

(37,161 posts)

5. This argument is a dodge (deliberate for some...

Reply to Grins (Original post)

Fri Oct 12, 2012, 07:34 PM

Oct 2012

...Others have bought into it so easily they don't even realize it).

High marginal taxes on high incomes is a market based negative incentive for the already-wealthy to grab every last buck they can. It changes the math on investments, and makes longer-term growth more valuable than quick boosts in quarterly profits.

It changes the numbers as to how to utilize excess resources: develop the workforce (more pay for employees) or take as extra profit and have Uncle Sam take 90% since my income is already in the stratosphere?

You don't have to cap what goes upward, but constricting it is fair game, and is precisely the policy we had in effect when the middle class in this country was expanding instead of shrinking.

There is no Divine Right to Maximum Profit.

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