Extend Tax Cuts for 95% ??

It appears that the current plan taking place in the Whitehouse and the Democrat controlled Houses, would be to extend the "Bush" tax cuts to everybody who makes less than $250,000 per year.

As someone who makes roughly 40k per year, this is at least welcome news to myself.

They say that the only people would be truly affected, would be the top 5% of the United states.

The problem being I'm an Employee, not an Employer.

Virtually every Employer in the U.S. Makes over 250K per year. They would in-fact be the "top 5%" that is refferred to.

It is very possible that if my employer has to pay an additional 40k+ per year in taxes, he may simply lay me off to make up for the added expense.

I think this idea by the Democrats is brilliant politically. They are bound to lose the House, and possibly the Senate come November. Then when the Republicans take over on January first, the tax cuts expire at the exact same time.

Employers will have to make up for massive new taxes, likely by laying people off. Unemployment rates automatically rise, and the Democrats can then point and say "See, it was better under us!"

I do believe this is a conspiracy, one of the worse kind. It is a political game where they are intentionally hurting the country in order to help promote their party.

Though I suppose it is inevitable.

I for one am an independent, and will vote by my conciense.

Though if the Democrat's do vote for this legislature, I may just vote Democrat this year, keep them in the house, and let them wallow in their own mess.

I am interested in all responses to this, though primarily those who are Democrat. What alternate motivation do you believe is behind this? Simply a hate for the rich? Need more money, no matter what, for bloated programs. Please explain it to me to where my original thesis is null and void, and they actually are "looking out for us". VS just manipulating us for their own gain.

reply to post by dreamwalker74


It is pretty much safe to say that, Voting for bills is done. Its campaign time. There may be a few instances but I pretty much think it is over.. Although I do agree with your idea that it’s a politically motivated move.

reply to post by poedxsoldiervet


Do you think so? I feel that the worse the poll numbers get, they may try to jam through as much as possible before it's too late.

i would like them to pass this but as of right now EVERYONES taxes is going to go up 3-5% depending on your bracket. this is the nail in the coffin. i really need that extra $3,000 a year. if the goverment takes it im going to have to cut down even more. Ill get by but its going to be on beans and cornbread

In just 4 months, the largest tax hikes in the history of America will take effect.They will hit families and small businesses in three great waves on
January 1, 2011 new tax brackets if bill does not pass!

- The 10% bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%

atr.org...
I say walcome to the double dip America. you think americans are bearly holding on now. Wait till this hits. Hope and Change! :flame

reply to post by camaro68ss


The question being, Do the Democrats really believe this is in the best interest of the people? Or are they trying to hand down worse problems to the Republicans intentionally? Not caring about the citizens?

This tax on the wealthy will cause little to no effect to employees. Remember the past tax BREAKS for the wealthy? Well they produced little if any hiring of new employees.

This tax will significantly improve our economy and in specific to your concern, it will assure that there are funds available to allow you to receive the unemployment benefits that you deserve (and pay tax for) in the event your position is terminated.

The wealthy are EXTREMELY ANGERED by this administration because it intends to help those who need it most (middle-class hard working folks) instead of allowing the wealthy to buy another mansion, or another yacht for themselves.





[edit on 16-8-2010 by Baloney]

Originally posted by dreamwalker74
reply to post by camaro68ss

 

The question being, Do the Democrats really believe this is in the best interest of the people? Or are they trying to hand down worse problems to the Republicans intentionally? Not caring about the citizens?

I really dont know the awnser to that question. i would think they would want to do it for the best interest of the people. people need there money right now. but there is not alot of talk about this passing. it was one of those brought up bill that was not really looked twice over. i belive the democrats wont pass it. If that happens it will show how much they really care about the middle and lower classes. they are in it to lose big if they dont make some changes.

reply to post by Baloney


I probably would have agreed with you at one point. Though under the current economic atmosphere, I feel that any tax hikes, especially on those who do the hiring, can only be detrimental to the economy. Instead of looking for more ways to fund unemployment (use the rest of the stimulous), we should be doing everything we can to help and be friendly to those who create jobs. NO?

Originally posted by Baloney
This tax on the wealthy will cause little to no effect to employees. Remember the past tax BREAKS for the wealthy? Well they produced little if any hiring of new employees.

This tax will significantly improve our economy and in specific to your concern, it will assure that there are funds available to allow you to receive the unemployment that you deserve (and pay tax for) in the event your position is terminated.

The wealthy are EXTREMELY ANGERED by this administration because it intends to help those who need it most (middle-class hard working folks) instead of allowing the wealthy to buy another mansion, or another yacht for themselves.



[edit on 16-8-2010 by Baloney]

how is taxing the middle and lower classes more going to help "those who need it most (middle class)" your taking the extra $3,000 they could be spending on there familys and giving it to the goverment to spend on whatever they want.

or maybe i dont understand what you are saying. Are you for the new bill or are you for everyones taxes across the board to go up?

Originally posted by dreamwalker74
reply to post by camaro68ss

 

The question being, Do the Democrats really believe this is in the best interest of the people? Or are they trying to hand down worse problems to the Republicans intentionally? Not caring about the citizens?

S & F for you btw.

They are doing like you said, appeasing the people yet making it worse for them at the same time. I make about 40k a year in my families business. You better believe that economics is trickle down and if people in my family will have to pay a whole lot more they will have to make up for it another way, either by layoffs or deductions.

Everybody, and I do mean everybody, are getting by on a whole lot less now. Cutting taxes for the majority of the people out there will appease them at first, until they get layed off or start getting their wages cut. But, instead of having a brian, the majority of them will just blame the people in "power" at the time and their employers that are doing it to them and in turn vote the dems into Congress again.

Its really sad, to me at least, that the people are getting played by the "We are for the little guy" party. Hell, look at fannie mae and freddie mac. The dems like Barney Frank covered up the fact that either of those two entities were in trouble yet when it hit the fan they were the first to point fingers to the "other" side. We are currently seeing the republicans part of the cycle cause dont forget, they are part of it as well.

The republicans sit their and point about how much freedom we loose under the dems when they do just that whenever they have power. Its a two way play and its been going on for quite some time now. Both sides are continuing the downward spiral of this country.

reply to post by camaro68ss


If they don't pass anything, we as Americans have to REMEMBER who didn't pass anything, and not allow them to blaim the next incumbents.

Originally posted by dreamwalker74
reply to post by Baloney

 

I probably would have agreed with you at one point. Though under the current economic atmosphere, I feel that any tax hikes, especially on those who do the hiring, can only be detrimental to the economy. Instead of looking for more ways to fund unemployment (use the rest of the stimulous), we should be doing everything we can to help and be friendly to those who create jobs. NO?

Agree, we need to look for ways for people to get back to work not look for ways to help pay for more unemplyement. unemplyment is already funded for you for 99 weeks. what more could you want. you should want jobs!

reply to post by dizzie56


I agree we are in a downward spiral. How the HECK do we get out of it? We can't trust either party. You can't explain it to their party members without being verbally assaulted as a "nut". Is there no way out? Doomed as a country, NO MATTER WHAT?

reply to post by dreamwalker74


Honestly there is nothing, nothing that nobody could do; short of tearing the whole entire sytem down from the bottom up; that would ever, ever solve the problems. If you're so smart then tell us, I am dying to hear this, tell us how you would fix this mess? I really want to know!!! As I am sure most here at ATS would. If economists cannot figure out a way, what makes you think a democrat/repub, independant, or any damn body can even fix this??? The simple answer is nobody can, it is faaaaar too late for that! It's like trying to fill a hole with feathers...the wind blows em and the hole never gets filled.

reply to post by camaro68ss


No your assumption of not understanding what I wrote is correct. Please reread it.

And I know your stance on this issue already, and that debating with you leads to going around in circles which is purely a waste of time.

Therefore provide all the half-truths and full lies as you wish. But to the others I plead to them that they research it all on their own and see the truth that many are trying to twist completely to favor their opinion.

History and common sense confirms that this is what we NEED to do for our country in this desperate situation.

For the WHOLE of this country, this TINY TINY sacrifice from the wealthy is the RIGHT thing to do. They SURELY will never be HOMELESS from this small sacrifice, but it could save THOUSANDS, and THOUSANDS of us from going HOMELESS.

Its the RIGHT thing to do in this desperate situation folks.

In all honesty, Tax's on All American should Increase, For this reason 40% of Americans Do not pay taxes. We have a deficted that is out of control; if those 40% paid there taxes, They would be PISSED at the amount of spending going on, those 40% would stand with the other 60% and then would get true Change. But right now The FEDS our spending other peoples money, and they dont care... You only care when its your money being spent.

Originally posted by Baloney
reply to post by camaro68ss

 

No your assumption of not understanding what I wrote is correct. Please reread it.

And I know your stance on this issue already, and that debating with you leads to going around in circles which is purely a waste of time.

Therefore provide all the half-truths and full lies as you wish. But to the others I plead to them that they research it all on their own and see the truth that many are trying to twist completely to favor their opinion.

History and common sense confirms that this is what we NEED to do for our country in this desperate situation.

For the WHOLE of this country, this TINY TINY sacrifice from the wealthy is the RIGHT thing to do. They SURELY will never be HOMELESS from this small sacrifice, but it could save THOUSANDS, and THOUSANDS of us from going HOMELESS.

Its the RIGHT thing to do in this desperate situation folks.

im tired of the round abouts as well. I would like to see the whole of the bush tax cuts extended but i know that will not happen with obama as prez. at least we are at a comprmise to where the lower brakets keep there tax cuts. Im ok with that. but if taxes go up for all, as they will if no bill is passed, im not ok with that.

reply to post by Baloney


I agree, but it's not going to happen, they are fully set against making this sacrifice, heck look at who they're giving jobs to, not the Americans, that's a load A bunk... they are giving it to Inda, China, Pakistan, Mexico, and no I don't mean illegals, but putting their shops up there, and so how is this sacrifice really going to affect us, it won't not a bit because they are moving up, they're packing it in and outsourcing and it won't stop if they don't get the tax and it won't stop if they do, either way, we are really not going to benefit, or be negatively affected at all. They should jsut put penalties on these companies that use overseas workers, but that still ain't going to fix the problem, the wealthy just love their fiat money too much... you can't change greed... that's something you cannot do, you cannot change a leopard's spots, they'll always find ways around every thing whether it be this tax, or outsourcing, or child labor, this is very evident if you just keep up with business news!

[edit on 16-8-2010 by ldyserenity]

reply to post by ldyserenity


That is a damn good question. Do I have some small ideas that would help? Yes. Would it fix this downward spiral? NO. I think that many of the "economists" are not only politically motivated, but also unable to think outside the box. I think those at ATS would have much bettter ideas, though many here are conformists, most are far from "normal". Therefore I would ask anybody, who has ANY idea how America can improve it's economy, leave the idea on this post, maybe as a whole we can come up with some true ideas. I will start with one:

Legalize and tax Marijuana and Hemp Nation Wide. There is enough land in the U.S. That we could grow enough Hemp for biofuel, that we could not only be independent from oil, but also export other countries who wanted to escape oil.

Hemp seed is actually more nutricious than soy beans, another export.

We could create less expensive paper, clothes, rope, and hundreds of consumer products, which could also be exported to improve our economy.

It is a very versatile plant that can grow virtually anywhere "have seen it growing out of snow."

Not to mention the tax revenues, based on recreational use.


Will this save the economy? NO

Is it worth trying? Hell Yes.

I look forward to ANY other ideas ANYBODY has.

We'd better come up with something, and soon.