General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRoll back the Bush and trump tax cuts.
If youre worried about the debt and you want to be taken seriously, stop acting like stealing more food from children is the answer. Republicans created this debt, 1/4 of it in the last 4 years when they had the House, the Senate and the WhiteHouse.
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jimfields33
(16,704 posts)CrispyQ
(36,800 posts)I think the corporations get to keep theirs.
Lonestarblue
(10,522 posts)created for real estate companies like Trump Org,
mitch96
(14,029 posts)czarjak
(11,561 posts)Promises Made, Promises Kept. Period.
KPN
(15,731 posts)WarGamer
(12,863 posts)The wealthy and Corps got permanent tax cuts.
You know WHO loses THEIR tax cuts in 2025 if they expire?
Individual Tax Payers... individual rates will go back to pre-Trump levels.
For example:
Current 12% bracket to 15%
Current 22% bracket to 25%
Current 32% bracket to 33%
Current 37% bracket to 39.6%
That's a BIG hit for low/mid to middle income earners.
Make THESE rates permanent and go after actual wealthy people. Oh nevermind... the wealthy are never made to pay.
BigmanPigman
(51,819 posts)along with Mitch. Both are past their "use by" date and are rotten.
Grins
(7,378 posts)Then repeal the Capital gains deduction.
Old line from Obama years, updated:
If a 59% tax rate was good enough for Ronald Reagan, its good enough for todays Republicans!
Shermann
(7,676 posts)KPN
(15,731 posts)long, slow, steady chip away at progressive tax structure ever since led by the wealthy and supported by the wannabe wealthy and haters.
tritsofme
(17,588 posts)Even lower/middle class? Good thing youre not in charge!
Fullduplexxx
(7,931 posts)Obscene wealth is a nation security threat
roamer65
(36,753 posts)Top marginal income tax rate was 50 percent.
Adjust for inflation and bring them back.
byronius
(7,432 posts)onenote
(43,252 posts)Facts matter.
justaprogressive
(2,306 posts)stolen from SS while we're at it!!
leftstreet
(36,128 posts)2naSalit
(87,802 posts)twodogsbarking
(10,347 posts)2naSalit
(87,802 posts)airplaneman
(1,253 posts)stuffmatters
(2,574 posts)have touted a National Transaction Tax for years now. Also State owned Banks (like North Dakota has.)
Both are real,obvious,simple, healthy changes for the "economy that works for all Americans" which Democrats seek.
Stargazer99
(2,616 posts)spread the facts because the wealthy don't want you to be educated to the facts
ancianita
(36,532 posts)Republicans have created ALL this debt since Clinton cleared the debt.
2naSalit
(87,802 posts)Created a quarter of all debt in the nation's history, in four years' time. Seems they were not only on a mission to take control of the government but pocket the treasury too.
https://www.self.inc/info/us-debt-by-president/
MyNameIsJonas
(744 posts)Clinton did slow the increase in debt, as it grew by 161% under Reagan and 42% under H.W Bush (it grew by only 28.6% under Clinton) but he didn't clear it.
Debt also rose significantly under Obama (64.4%) but lower than what it was under Bush (72.6%).
It's grown by 8.8% under Biden but he also entered with the country having seen a significant amount of debt accumulation the last 20 years.
not fooled
(5,830 posts)simply putting chimpy's tax cut and wars on the books? I believe that's what Thom Hartmann says and he backs up his assertions with research and facts. IIRC Obama took the hit for being responsible after chimpy racked up debt but kept it off the books to make his numbers look better.
MyNameIsJonas
(744 posts)Was due to the recession and spending there. Not sure the total breakdown, tho. But his making some of the Bush taxes permanent certainly also impacted it.
Picaro
(1,578 posts)We have a winner. The solution to almost every problem we're currently experiencing in terms of the federal budget is get rid of the Bush and Trump tax cuts. They were grossly irresponsible at the time and, in the case of the Trump tax cuts, were allowed to be considered under reconciliation so they could pass with only 51 votes. They should not have been eligible for reconciliation.
But McConnell was able to co-opt the OMB to issue some very rosy financial predictions that turned out to be complete hogwash. This bill should have been subject to the filibuster, but McConnell, was able to corrupt the process and ram the bill through.
He knew undoing it was going to be a really heavy lift.
As a country we need to raise the tax rates on corporations and the 1%. Anyone that shrieks about the national debt and isn't looking at the revenue side is dishonest and is pursuing a hidden agenda.
calimary
(82,010 posts)The rich are where the money is. Go for the billionaires. Surely they have enough to remain comfortable IN THE EXTREME!!! Hell, their pocket change could probably feed a poor family for at least a day or two.
ancianita
(36,532 posts)the real key targets -- more than the more visible ones.
calimary
(82,010 posts)Those who can pay more - should. Patriotic duty and Christianity and all that.
BComplex
(8,259 posts)If we take control, we need to impeach Thomas, Alito, and trump's 3 lying, perjured picks.
hay rick
(7,789 posts)The Bush and Trump tax cuts are simple looting. Democrats need to stop claiming the mantle of "fiscal conservatism." There is no way to fund meaningful social justice without the tax receipts to fund programs. The super-rich need to be identified as predators, not heroes. They need a little healthy fear to modify their incentives.
ariadne0614
(1,761 posts)Shermann
(7,676 posts)William769
(55,307 posts)LoisB
(7,342 posts)Democrat in the White House.
Evolve Dammit
(17,101 posts)PoindexterOglethorpe
(25,997 posts)Johonny
(21,200 posts)The Reagan cuts started the era of greed is good. The middle class has taken it on the chin since then.