Biden On Tax Increases

[ImWithStupid]

Joe Biden is firm in his commitments to incrasing taxes on the rich...

[ame=http://www.youtube.com/watch?v=nwwVNLH33-0]YouTube - Biden Doesn't Know An Economist Saying Tax Increases Are Bad[/ame]

What person in their right mind would think that increasing taxes on the wealty would be harmful in an economic downturn...

Obama: Recession Could Delay Rescinding Bush Tax Cuts

September 7, 2008 02:53 PM EST |

WASHINGTON — Democrat Barack Obama says he would delay rescinding President Bush's tax cuts on wealthy Americans if he becomes the next president and the economy is in a recession, suggesting such an increase would further hurt the economy.

Nevertheless, Obama has no plans to extend the Bush tax cuts beyond their expiration date, as Republican John McCain advocates. Instead, Obama wants to push for his promised tax cuts for the middle class, he said in a broadcast interview aired Sunday.

"Even if we're still in a recession, I'm going to go through with my tax cuts," Obama said. "That's my priority."

What about increasing taxes on the wealthy?

"I think we've got to take a look and see where the economy is. I mean, the economy is weak right now," Obama said on "This Week" on ABC. "The news with Freddie Mac and Fannie Mae, I think, along with the unemployment numbers, indicates that we're fragile."

Obama: Recession Could Delay Rescinding Bush Tax Cuts

Oh, him. That's right. Obama finally admitted that tax increases on the wealthy is bad for the economy. Ooops.

 

[timesjoke]

But again, he is also promising the largest government spending increases in 20 years. You can't increase spending and at the same time reduce collected taxes, that just does not work, and as to date, this desparity has never been addressed by a single Obama supporter, much less Obama himself.

By the way, if he is considering leaving the Bush tax custs in place, and he is up to his neck in dirty political attacks, and he is considering a slower withdrawal of troops in Iraq, and he is now waffling on issues based on poll data..........


How exactly is Obama a "change" in Washington?


Is this not exactly what every Presidential canidate has done for the last 20 years?

 

[ImWithStupid]

In reality, taxes, whether they are high or low doesn't affect revenue much.

It's the spending that needs to get under control with the Federal governement, and adding the types of entitlements that Obama/Biden are saying they will add, with the free college, universal healthcare, child care, etc... is preposterous. There isn't even enough revenue to deal with Medicare and Social Security as the two entitlements that currently exist.

Here is what is projected based on current spending patterns and just dealing with Medicare and Social Security with the baby boomers getting to retirement age with the entitlements we have now.

View attachment 2087

as you increase taxes on businesses and the wealthy, there is less profit and less revenue for the government.

 

[timesjoke]

Exactly, and it goes further than that, higher taxes supress investment . Why put yourself at risk if even when your risk turns good, you have to give half of the profit to the government?

Will the government pay half your losses if your investment cans? Hell no, so why are they entitled to half your profit?


- when I say investment I mean any form of investment from stocks to creating a new business.

 

[Fullauto]

In reality, taxes, whether they are high or low doesn't affect revenue much.

It's the spending that needs to get under control with the Federal governement, and adding the types of entitlements that Obama/Biden are saying they will add, with the free college, universal healthcare, child care, etc... is preposterous. There isn't even enough revenue to deal with Medicare and Social Security as the two entitlements that currently exist.

Here is what is projected based on current spending patterns and just dealing with Medicare and Social Security with the baby boomers getting to retirement age with the entitlements we have now.

View attachment 2088

as you increase taxes on businesses and the wealthy, there is less profit and less revenue for the government.

[ame=http://www.youtube.com/watch?v=n7WJeqxuOfQ]YouTube - Immigration Gumballs[/ame]

good start... this will hold water...

 

[timesjoke]

I already knew about most of this info, but the guy did a great job of laying it out for any idiot to understand that something "must" be done.

I am sending this to several of my friends.