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Old 05-26-2009, 06:17 PM   #58
David Orange
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Location: Birmingham, AL
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Re: Obama's Spending vs Obama's Spending Cuts

Quote:
Hunter Lonsberry wrote: View Post
I thought everyone got a tax cut under Bush. I wasn't in the top rate during the first round of tax cuts, but I remember everyone's rates falling, not just top income earners.
It is true, BUT as they say, the rich got enough difference to buy a Porsche while the average American got enough to pay for a muffler.

Quote:
Hunter Lonsberry wrote: View Post
Also, given that the "rich" pay a majority of taxes anyways under our current system and therefore be the primary beneficary of any tax cut? It is hard to cut income taxes for those who do pay little or no income (not FICA) taxes.
True, but also with some misleading elements. The rate of the cut for the wealthy was a higher rate than the cut for the lowly. And the top 1% of US "earners" actually own something close to 60% of everything in America. So if we had only 100 people, one of them would own 60% of everything. So they have not only the money but the means of getting money...so why should their taxes have been cut at all? Sure, they pay more than I do but it's like saying "I have a diesel truck with a trailer and you have a Volkswagen, but you should carry as much coal as I do so that we'll be equal."

Sure, they pay "a lot" but if you cut off on arm of an ordinary man, it's not the same as cutting off one arm of a man who has eight arms.

And in the case of Bush's tax cuts, the people who got the most from it also saw Bush pump billions of dollars into the other industries they own. So they got a tax cut and a huge income boost, courtesy of George.

Quote:
Hunter Lonsberry wrote: View Post
Now with regards to wether it is the right choice to massively increase spending in a downward economy or if it was the right choice last time around to give tax cuts in the middle of a downwards economy, followed by later cuts around the time we went to war is certainly a matter of debate, but it is disingenious to only state that Bush only gave the wealthy a tax cut.
No, I didn't say he gave "only" the wealthy a cut. Anyone who was around knows that "everybody" got a cut, but the rich got the REAL cut.

On the other hand, we have all these people talking about how Obama is "raising taxes" as if everyone were getting hit. The rich gained in windfalls and tax cuts under Bush. Now the piper is calling for his due and they don't like it.

David

"That which has no substance can enter where there is no room."
Lao Tzu

"Eternity forever!"

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