Progressiveness / regressiveness of tax
Is not about de jure rate for "taxable" income. It is about a ratio of tax paid to de facto income, which includes income in tax heaven.
[QUOTE=Tiny12; 424809]What you wrote above is absolutely not true. This is from a recent study by the nonpartisan Congressional Budget Office, and shows the average tax rate paid by people in various income groups. If you want to check me, go to.
[url]http://www.cbo.gov/publication/43373[/url]
And click on the first supplemental table. The figures below include ALL federal taxes, including social security tax:
Top 1%: 28. 9% average federal tax rate.
Top 5%: 24. 1% average federal tax rate.
Top 20%: 23. 2%
Fourth Quintile: 15. 1%
Third Quintile: 11. 1%
Second Quintile: 6. 8%
Bottom 20%: 1. 0%
Your belief is common. I believe it stems from two things:
1. Democrats like Obama knowingly lie because they think it will get them more votes. This is why Nancy Pelosi and Chuck Schumer favor only raising taxes on those making more than $1 million per year. Because they realize the "tax the rich" thing is populist bull shit, and a $1 million threshhold gets them more votes than a $250, 000 threshhold. There are a lot of people who make in the $250, 000 to $1, 000, 000 range in San Francisco and Manhattan, and Nancy and Chuck want their votes.
2. The desire of the majority to steal from the minority. People bend the truth to suit their beliefs and desires. They don't realize there are unintended consequences (on businesses, savings and investment) of stealing a large share of income from the wealthy.
If you download the Excel table I describe above on the CBO's web site, you'll see that your argument that the federal tax system would be regressive if not for the 2% reduction in social security tax doesn't wash. There's data there from 1979 to 2009, and the federal tax system is steeply progressive in all years.[/QUOTE]
Regressive & Progressive terms are relative not absolute
[QUOTE=Wild Walleye;424803]I must have missed the part where he describes the regressive nature of the potential reforms. I know Glenn, so I will give he a call and ask.[/QUOTE]I would very surprised if Romney came out with a tax program that is more progressive than the current tax system. If his tax plan is more progressive then the one we currently have then I really do not understand the tenor of his campaign. Progressive and regressive are relative terms not defining terms. They do not inform if the tax policy is good or bad. The terms just explain the relative tax burden of different income classes. I think it is fair to say that Romney's tax plan is more regressive than Obama's. The purpose is to reward the job creators to give them incentive to work harder which will improve the economy. I read "Atlas Shrugged." I get it. Wild Walleye give me some love.
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Romney embarrasses himself and the US
Romney made a great first impression on our most valuable ally, Great Britain. Questioning the readiness of the London Games? Way to step in it. Not surprisingly he got hammered in the British press, with headlines that have made him a laughing stock:
"Mitt the Twit"
"Who invited party-pooper Romney?"
"'Nowhere man' Romney loses his way with gaffe about the Games"
Some papers called him a "wazzock", which has variously been defined as "a daft know-it-all", or less flattering "a fool, esp. One who makes gross mistakes by negligence or incompetence".
What a phuck-up! Even Krauthammer agrees!
Hugh Hewitt on why Obama should not be elected
This is a BookTV program where Hewitt makes the case against Obama. For all you fence sitters I think this will pull you over to Romney. [url]http://www.youtube.com/watch?v=mWY1tgqelPk[/url] I also think that Hewitt is honest about how a Romney administration could fail. It's going to be a real high wire act. Conservatives want to reverse all the Defense cuts that that Obama has already made. Of course he wants to get deficit down to 20% of GDP while he is increasing military spending. Even though some of us are ready for change, we are not as enthused about Romney as the the true blue Conservatives seem to be. Hewitt admits that the Republicans failed in 2004. If they get a second chance Hewitt thinks that they have only a small window to succeed. [url]http://www.youtube.com/watch?v=mWY1tgqelPk[/url]
Great Post BBM! Esten, Esten where for art thou?
[QUOTE=Big Boss Man; 424858]This is a BookTV program where Hewitt makes the case against Obama. For all you fence sitters I think this will pull you over to Romney.
[url]http://www.youtube.com/watch?v=mWY1tgqelPk[/url]
I also think that Hewitt is honest about how a Romney administration could fail. It's going to be a real high wire act. Conservatives want to reverse all the Defense cuts that that Obama has already made. Of course he wants to get deficit down to 20% of GDP while he is increasing military spending. Even though some of us are ready for change, we are not as enthused about Romney as the the true blue Conservatives seem to be. Hewitt admits that the Republicans failed in 2004. If they get a second chance Hewitt thinks that they have only a small window to succeed.
[url]http://www.youtube.com/watch?v=mWY1tgqelPk[/url][/QUOTE]Really good post and link BBM. Maybe one of the best posts in the political thread of all time. Loved the link and enjoyed the speakers presentation. The wild-ass moon howling liberals like SnakeBoy, WT69 and especially Esten will hate this link. Esten especially, because he is by far the smartest of the three and has already figured out whats coming in November. I realized long ago when Esten didn't take me up on the same bet we made in the October primaries two years ago. That was a push because the senate stayed democrat. I know you are out there fella. I've already asked to renew our bet of two years ago, LONG AGO on this thread and NO RESPONSE. Like Clint Eastwood used to say " do you feel lucky"! The bet is still out there dude. Why not pony up? I am betting on Romney plus a GOP controlled senate after the November elections. If I am right on both I win. If you are right and the senate and Obomantion stay in place, YOU WIN. If it's a split decision either way, IT'S A PUSH. What say you dude, at the end of the day we can both afford to treat the other to a night at Madahos (lets say 2000 peso max). At the current blue rate, hell thats less than a 300 dollar bet. Come out, come out, where ever you are! I am waiting and looking forward to you repeating our bet of 2010. Enough said. Happy Mongering All. Toymann
Nixon's ghost isn't quite the objective analyst to make the case against Obama
[QUOTE=Big Boss Man;424858]Hugh Hewitt attacks Obama[/QUOTE]Hewitt was Nixon's ghostwriter back when the all time evil snake oil salesman was screwing the country, shredding the constitution and living large on the taxpayer's dime. He is as biased as el Jefe isn't! Get ready all you O'haters and rejoice. You may have 4 more years to keep pulling your hair out (those of you who have any left!
Part 2, What happens to people who contribute to Romney's campaign
[QUOTE=SnakeOilSales;424870]One of the links was to a story CRITICIZING Obama for (more than likely) sending the DOJ after Sheldon Adelson (who is an outspoken Romney supporter).[/QUOTE]It was interesting, that the Department of Justice is looking at criminal charges against Adelson's company. But they're not looking at Stephen Wynn or Kirk Kerkorian or any other casino companies.
This is a potential way of bankrupting Adelson's company. At least that's what happened when Arthur Anderson, the accounting firm, was convicted of criminal charges.
The primary charge is that the Chinese owner of a Mexican pharmaceutical firm gambled at the Venetian. What the Venetian didn't know is that in addition to selling legitimate pharmaceuticals, the guy was also selling raw materials to narcotraficantes who were manufacturing methamphetamines. When he got busted Guadalajara police discovered $200 million in cash in his swimming pool.
While the DOJ is probably going to charge Adelson's company with money laundering, apparently the gambler ended up owing money to the Venetian. He lost more than he ran through the casino. The Venetian extended a line of credit to him and got burned. How's that money laundering? Only if you're a supporter of a political opponent of Barrack Obama. By the way, the DOJ has dropped the charges against the pharmaceutical owner for lack of evidence for money laundering, but they're still going to pursue Adelson! The DOJ can't come up with enough evidence to show he was laundering money, but somehow the Venetian should have seen that was happening and stopped it!
Snake, the web site owner has graciously provided this playground to us free of charge. Respectfully, you might want to think about that, and edit your post.
Republican lies about defense
[QUOTE=Big Boss Man;424858]Conservatives want to reverse all the Defense cuts that that Obama has already made.[/QUOTE]CORRECTION:
Congress (mainly House Republicans) are responsible for the defense cuts.
They're required by the Budget Control Act, which came about because Republicans insisted that any increase to the debt limit be matched dollar-for-dollar in spending cuts and reforms. I give them credit for that. Boehner was in talks with Obama on a grand $4 Trillion debt deal, but House Republicans pulled him away over their objections to any tax increases. Then the "Supercommittee" failed to negotiate a deal, triggering sequestration (automatic cuts), again due to Republican opposition to any tax increases. The cuts are actually a good, but small step (~ 10%) in reducing our bloated $700 Billion annual defense spending.
When you hear Republicans speak of "Obama's defense cuts", they are lying. When Romney refers to "Obama's massive defense cuts", he is telling a double lie.