Don't Lower Taxes For Billionaires. D...

Don't Lower Taxes For Billionaires. Double Them.

Posted in the Livingston Forum

Dave

Livingston, TN

#1 Oct 10, 2012
DAVE JOHNSON
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On the campaign trail Romney says we shouldn't ship jobs to China and should "crack down" on China trade problems. But he refuses to help or even meet with the Sensata workers whose jobs are being shipped to China right now. Why the refusal to line up his actions with his promises? A must-read, must-read, must-read news report explains how part of Romney's $450,000/week income comes from ... get this ... shipping jobs to China! First, the background...

BILL MOYERS AND MICHAEL WINSHIP
Killing the Kids that Don't Need to Die
Matt Sitton knew the war in Afghanistan was going badly. He knew it because he was fighting it. He could see for himself. Twenty-six years old, with a wife and child back home, Staff Sergeant Sitton was on his third combat tour there. He wrote Congressman Young and told him what was happening. On August 2, while on patrol, Matt Sitton and a buddy were killed, blown apart by an IED, a hidden bomb. For a long time before Matt Sitton died, Congressman Young, the longest serving Republican in the House, called for sticking it out in Afghanistan. He's changed his mind. Now he tells the Tampa Bay Times: "I think we should remove ourselves from Afghanistan as quickly as we can. I just think we're killing the kids that don't need to die."

DIGBY
Pete Peterson's Magical Thinking Club
Matt Yglesias wrote an important post today about why Pete Peterson's ongoing crusade to cut the deficit is killing us. He notes that many serious liberals dismiss the (dirty hippie) idea that the focus on long term deficit reduction is wrong in itself in favor of the idea that it's simply wrong for the current situation. Being one of those who have been saying for years that focusing on long term projections (which are notoriously unreliable and always unenforceable) is a fools game, I appreciate the fact that Yglesias has taken another look at this.

RICHARD ESKOW
Don't Lower Taxes For Billionaires. Double Them.
Forget the "Buffett rule." It's not enough. What's more, "letting the Bush tax cuts expire for the rich" isn't enough either - although it might get us halfway there. As for that "Simpson Bowles" so-called "deficit reduction" plan: It's a hoax, another ploy to give the ultra-rich yet another huge tax cut - unless you believe that the lobbying fairy will magically grant a wish that's never been granted before: an end to billionaires' loopholes. If you buy that - which I don't - then the plan's just grossly unfair. The real moment of truth Washington won't face is this one: It's time to admit that we can't rebuild our economy - or balance the Federal budget - without raising taxes on the very wealthy. That's what Simpson, Bowles, and all their highly-funded friends won't tell you: We need to raise their taxes a lot. And by "a lot," I mean doubling them.
Wonder

Sharon, SC

#2 Oct 10, 2012
Yes double those taxes and they will cut their spending to make up for it, your jobs, your benefits, but if you cut their taxes they will hire more and increase benefits.

Billionairs and millionaires are the people who create jobs and if they are taxed to the point where they can't create jobs then the economy will fail, this is simple economics people. The rich have to watch their capital for large expenditures, expansion, new employees etc. without that padding people WILL loose their jobs, wages will decrease and unemployment will skyrocket. A tax like that will make 1929 look like a cake walk. Taxes do not need to be raised spending needs to get in check, when you are short on money in your house you don't write bad checks and create a deficit do you? No you make a budget and figure out how to save and cut out what you need, you don't walk up to your boss and say " hey your gonna have to start giving me 20% more and health care, while your at it toss in an IRA" he would laugh at you and show you the door. For some reason we feel that this is ok on a national level and it is not! They treat us like we work for them now, but that is not the case they work for us. More than 1/3 of our working lives are spent for paying taxes, I think this is overly excessive!
Bill Clinton

Monroe, TN

#3 Oct 11, 2012
Being a Lib is a sickness. They just don't get it. Tax the rich more and they will charge us more and you will get less. DAAAA
Barry

Cookeville, TN

#4 Oct 12, 2012
Where is Obama sending OUR Tax money:
Failing US car battery maker that got $240M from feds is being saved from bankruptcy by a Chinese billionaire....

Obama phone” an obscure federal program that provides discounted phone service to qualifying low-income Americans.
A growing percentage of Americans who pay no income taxes and get a long menu of government benefits. Tim Griffin, R-Ark., note the program has swelled from $772 million in 2008 to $1.6 billion. A Mexican telecom mogul who holds the title of world's richest man, and one of President Obama's top donors are both getting even richer from the U.S. government program that supplies so-called "Obamaphones" to the poor. 3.8 million subscribers through the federal program as of late 2011. TracFone makes $10 per phone. Pollak has donated at least $156,500 to Democratic candidates and committees this cycle, including at least $50,000 to the Obama campaign. His wife, Abigail, is a campaign bundler for Obama and has raised more than $632,000 for the president this cycle, and more than $1.5 million since 2007. She has personally contributed more than $200,000 to Democratic candidates and committees since 2008.

Of course most of Obama's election money is reported to come from untraceable transfers from overseas.

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