Prev: Dumped documents
Next: meow (PING Kman !!!)
From: Jeff Strickland on 15 Apr 2010 12:32
Say what you want, but there's no way in Hell that the deficits that The
Bamster is running up and the damage he's doing abroad to the dollar can
lead to anything but more taxation.

It's the spending stupid.





"SMS" <scharf.steven(a)geemail.com> wrote in message
news:4bc6868c$0$1582$742ec2ed(a)news.sonic.net...
> On 14/04/10 4:37 PM, Jeff Strickland wrote:
>
>> Obama did not cut taxes, he only cut payroll withholding. The tax tables
>> remain the same. The IRS is reporting that most wage earners have
>> misfiled
>> due to the change in withholding in 2009.
>
> You've been watching too much Faux News. It's affected your critical
> thinking skills.
>
> In fact, the stimulus plan contained $237 billion in individual tax cuts
> over two years that have went to 95% of taxpayers (there were another $51
> billion in corporate tax cuts).
>
> * $116 billion: New payroll tax credit of $400 per worker and $800 per
> couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and
> $150,000 for joint filers.[27]
>
> * $70 billion: Alternative minimum tax: a one year increase in AMT floor
> to $70,950 for joint filers for 2009.[27]
>
> * $15 billion: Expansion of child tax credit: A $1,000 credit to more
> families (even those that do not make enough money to pay income taxes).
>
> * $14 billion: Expanded college credit to provide a $2,500 expanded tax
> credit for college tuition and related expenses for 2009 and 2010. The
> credit is phased out for couples making more than $160,000.
>
> * $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes
> bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for
> homes purchased in 2009 and held more than three years. This only applies
> to first-time homebuyers.[39]
>
> * $4.7 billion: Excluding from taxation the first $2,400 a person receives
> in unemployment compensation benefits in 2009.
>
> * $4.7 billion: Expanded earned income tax credit to increase the earned
> income tax credit � which provides money to low income workers � for
> families with at least three children.
>
> * $4.3 billion: Home energy credit to provide an expanded credit to
> homeowners who make their homes more energy-efficient in 2009 and 2010.
> Homeowners could recoup 30 percent of the cost up to $1,500 of numerous
> projects, such as installing energy-efficient windows, doors, furnaces and
> air conditioners.
>
> * $1.7 billion: for deduction of sales tax from car purchases, not
> interest payments phased out for incomes above $250,000.
>


From: SMS on 15 Apr 2010 14:29
On 15/04/10 9:32 AM, Jeff Strickland wrote:


> Say what you want, but there's no way in Hell that the deficits that The
> Bamster is running up and the damage he's doing abroad to the dollar can
> lead to anything but more taxation.

Wait, you said that Obama did not cut taxes. At least now you're
admitting that you're lying about that (a positive step in your
rehabilitation) and you have changed the subject to complaining about
deficits.

Cutting tax revenue and increasing spending always drive up the deficit.
Cuts in the tax rates are never offset by paying a lower rate but on
increased income; it's been that way since Ronald Reagan first began the
con of massive tax cuts for the wealthy combined with increases in
federal spending.

The difference now is that when Reagan and Bush implemented massive tax
cuts and increased deficit spending the money went to enrich banks,
energy companies, and companies like Halliburton. Obama's deficit
spending was to prevent the economy from going from recession to
depression, and it appears to be working. Ultimately the deficits _will_
lead to a weaker dollar (though since most other currencies are also
weakening, the exchanger rates probably won't change much).
First  |  Prev  | 
Pages: 1 2
Prev: Dumped documents
Next: meow (PING Kman !!!)