General Discussion

Chathamization

(1,638 posts)

27. You're right, it's a terrible deal

Tue Jan 1, 2013, 02:27 PM

Jan 2013

A temporary extension of tax cuts for those on the lower end of the income scale makes sense at the moment because we are in a recession. But we'll eventually get out of it, and at that point it would make a lot of sense to go back to the Clinton era rates. But from my reading, it makes the tax cuts for those making below $450k permanent. Which means if we ever want to go back to Clinton era rates, we now need to have politicians that are willing to raise taxes on the middle class - think we'll see that any time soon?

Horrible.

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So we toss out $600 billion of $4 trillion in Bush tax cuts... [View all] dkf Jan 2013 OP

Gee, why am I not surprised by your post? nt. OldDem2012 Jan 2013 #1

Reality check. People are living in fiscal lala land. dkf Jan 2013 #3

All our money is spent on WAR SHIT instead of HELPING AMERICANS SHIT. nt valerief Jan 2013 #6

Bingo. nt. OldDem2012 Jan 2013 #70

Conservative dkf agrees with many of our so-called progressives on this point alcibiades_mystery Jan 2013 #2

So how do you propose paying for everything? Sekhmets Daughter Jan 2013 #7

We could cut defense 50% easily Tempest Jan 2013 #15

Easily? C'mon. Sekhmets Daughter Jan 2013 #32

I never said there wouldn't be any pain Tempest Jan 2013 #37

You said easily... Sekhmets Daughter Jan 2013 #43

The military industrial complex AgingAmerican Jan 2013 #72

Sure, go ahead. Sekhmets Daughter Jan 2013 #75

The powers that be don't have the balls to do it AgingAmerican Jan 2013 #78

Everybody knows what is at the heart of the problem... Sekhmets Daughter Jan 2013 #80

I agree money has wrecked our political system AgingAmerican Jan 2013 #81

Yep Sekhmets Daughter Jan 2013 #83

With that money, create jobs that HELP Americans, not hurt the THE WORLD. valerief Jan 2013 #77

Never said it couldn't... Sekhmets Daughter Jan 2013 #79

Eh, my life at least was much better during the Clinton administration Fumesucker Jan 2013 #8

Not alone by far. R. Daneel Olivaw Jan 2013 #13

Well, you were younger after all... Sekhmets Daughter Jan 2013 #33

This is the traditional position of Democrats. dkf Jan 2013 #9

They are all workiing within the same Beltway Bubble.... JoeBlowToo Jan 2013 #4

A rare instance in which I agree with you. (For the most part.) Chan790 Jan 2013 #5

The reason Clinton rates are the optimal is because we saw an economy that worked. dkf Jan 2013 #11

It was a different time and a different economy NoOneMan Jan 2013 #52

You said it! Puzzledtraveller Jan 2013 #82

There much more to a working economy than tax rates bhikkhu Jan 2013 #56

Focusing on the tax rate is ignoring the biggest (by far) reason for the expansion in the 90's rufus dog Jan 2013 #65

It would have been $800 billion and ProSense Jan 2013 #10

Geez I was the one who kept on mentioning Obama already raised taxes on the top and was bashed. dkf Jan 2013 #12

You were bashed because it was a Republican talking point that you were parroting. And it was wrong. stevenleser Jan 2013 #24

Lol it was just posted by an avid Obama supporter dkf Jan 2013 #25

Thats right, a Republican talking point, and a tax that had not yet gone into effect. You were wrong stevenleser Jan 2013 #51

The difference is .001% of GDP Tempest Jan 2013 #14

I'm beginning to think the best deal is no deal. dkf Jan 2013 #16

No deal means another credit downgrade Tempest Jan 2013 #17

No it's the opposite. No deal fixes our problems instantly. dkf Jan 2013 #19

It didn't "cost us" anything PSPS Jan 2013 #20

It didn't cost us anything only to the uninformed Tempest Jan 2013 #26

Sorry, but that's a canard. PSPS Jan 2013 #54

Insurance costs are a canard? Tempest Jan 2013 #58

What did it cost? n/t Sekhmets Daughter Jan 2013 #34

See my response above your post. 25 points on the insurance cost. n/t Tempest Jan 2013 #40

Thank you.... Sekhmets Daughter Jan 2013 #44

The issuer of the debt pays the insurance costs Tempest Jan 2013 #47

So backwards of other types of insurance.... Sekhmets Daughter Jan 2013 #53

Not backwards, the same as. Tempest Jan 2013 #60

When you buy a house with a mortgage Sekhmets Daughter Jan 2013 #63

Tossing out all the tax cuts would have put the economy back into recession muriel_volestrangler Jan 2013 #18

CBO estimated it would last 6 months. dkf Jan 2013 #21

You see 'insolvency' as the result of this decision muriel_volestrangler Jan 2013 #30

Oh we are going to lose that title sooner or later. dkf Jan 2013 #31

But you're claiming this specific decision will end in the US government being insolvent muriel_volestrangler Jan 2013 #38

It won't be the reserve currency for much longer. Sekhmets Daughter Jan 2013 #35

It will always be used as the reserve currency. Tempest Jan 2013 #41

I don't think you can really say that with such certainty.... n/t Sekhmets Daughter Jan 2013 #46

Actually, I can. Tempest Jan 2013 #48

Yep, several.... Sekhmets Daughter Jan 2013 #55

Not even close to a comparison Tempest Jan 2013 #59

Yes, but China may overtake us as early as 2020... Sekhmets Daughter Jan 2013 #62

you really believe that? bowens43 Jan 2013 #22

Decrease most people's spending ability by 2%? Yes, that could cause a recession muriel_volestrangler Jan 2013 #29

Thats 20$ out of every thousand $ AgingAmerican Jan 2013 #74

Your touching concern for adherence to Democratic values wasn't there for Medicare, or SS or... stevenleser Jan 2013 #23

You're right, it's a terrible deal Chathamization Jan 2013 #27

There is no such thing as a permanent tax... Sekhmets Daughter Jan 2013 #36

Congress can Chathamization Jan 2013 #50

Perhaps... Sekhmets Daughter Jan 2013 #61

I don't disagree Chathamization Jan 2013 #67

We are on the same page, you and I. Sekhmets Daughter Jan 2013 #68

Thanks, you too! n/t Chathamization Jan 2013 #69

Not yet on the entire Clinton tax levels. Democrats_win Jan 2013 #28

The tax structure under Carter should be the final goal, not Clinton. Motown_Johnny Jan 2013 #39

Under the current economy, you are correct Tempest Jan 2013 #42

dkf worries Dems have lost their way to fiscal responsibility? Cali_Democrat Jan 2013 #45

Sure ya do. Rex Jan 2013 #49

You may get your wish if the House GOP rejects the Senate plan subterranean Jan 2013 #57

kick grahamhgreen Jan 2013 #64

You must have missed Obama saying he wanted to extend the tax cuts mzmolly Jan 2013 #66

The Bush tax cuts were a tragic mistake AgingAmerican Jan 2013 #71

Obama has been saying for years he supported tax cuts for those in mzmolly Jan 2013 #76

Inflation gto Jan 2013 #73