General Discussion

cthulu2016

(10,960 posts)

2. You have to specify what will be done with the revenue

Wed May 23, 2012, 10:43 PM

May 2012

Should they expire on income above $250K?

If the revenue gained is used for productive government spending then yes.

If the revenue gained was applied to reducing the deficit, no. That would be an ill-timed economic negative.

So the question cannot be answered in the abstract.

As for maintaining the Bush tax cuts on lower income levels, yes. That is economically mandatory.

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Should the Bush tax cuts be allowed to expire? [View all] ProSense May 2012 OP

Yes, across the board. MrSlayer May 2012 #1

That would increase unemployment and put us back in negative GDP growth cthulu2016 May 2012 #4

No it wouldn't. woolldog May 2012 #18

The recession was over when Clinton took office. badtoworse May 2012 #33

So? woolldog May 2012 #42

The current recession is over? I suspect many on DU would strongly disagree. badtoworse May 2012 #43

And they would be wrong woolldog May 2012 #44

I know the technical definition badtoworse May 2012 #45

So whenever some posters on DU are unemployed woolldog May 2012 #54

Again, you're comparing an era of private sector expansion.. girl gone mad May 2012 #55

The private sector was net spending.. girl gone mad May 2012 #51

Even if I agree... Xyzse May 2012 #40

Yes, across the board. No on capital gains, but... JayhawkSD May 2012 #21

Short term gains are already taxed as ordinary income. badtoworse May 2012 #35

You have to specify what will be done with the revenue cthulu2016 May 2012 #2

Interesting ProSense May 2012 #3

Yes, if the alternative is as described. cthulu2016 May 2012 #8

Nonsense ProSense May 2012 #11

I mean precisely what I said. cthulu2016 May 2012 #14

Oh please, ProSense May 2012 #15

If you view vanilla Keynesian economics as cthulu2016 May 2012 #25

Seriously ProSense May 2012 #26

Reducing the deficit strengthens the dollar Motown_Johnny May 2012 #31

What do you mean by applying the revenue to reducing the deficit? JDPriestly May 2012 #28

I think I see what you are asking cthulu2016 May 2012 #59

Thanks. It's very clear. JDPriestly May 2012 #60

Ending it below $100k will hammer the middle class MannyGoldstein May 2012 #5

Interesting to ProSense May 2012 #6

Median income Americans pay at twice the rate they did 50 years ago MannyGoldstein May 2012 #7

Did you support ProSense May 2012 #9

I always support expanding middle class tax cuts MannyGoldstein May 2012 #13

Well, ProSense May 2012 #16

Yes. MannyGoldstein May 2012 #17

yep upi402 May 2012 #12

So you disagree with Clinton tax rates? dkf May 2012 #20

They're better than the current tax rates MannyGoldstein May 2012 #23

Actually, ProSense May 2012 #24

All I know is that what Clinton did worked. dkf May 2012 #27

What worked when our private sector was taking on debt.. girl gone mad May 2012 #56

The private sector won't go back to relying on the commercial paper market. dkf May 2012 #57

Progressive people oppose regressive tax increases. girl gone mad May 2012 #52

I paid an income tax of $1000 on an income of $6000 in 1969 eridani May 2012 #37

I voted for over 250K but I'm willing to let them all expire. pa28 May 2012 #10

I voted for "all", but prefer the "over-250k" JustABozoOnThisBus May 2012 #30

Calling for all taxes to go back up is in effect arguing for austerity bluestateguy May 2012 #19

I'm amazed that people want all of them to expire right now. boxman15 May 2012 #22

Letting them All Expire Would Throw us Into Recession AndyTiedye May 2012 #29

Above $250K Motown_Johnny May 2012 #32

Obama made a mistake... kentuck May 2012 #34

100% correct. - nt badtoworse May 2012 #36

A second to that 100%. Can't reverse the damage done, but one can only imagine how strong sad sally May 2012 #47

I am surprised that people do not see the effect or impact... kentuck May 2012 #38

I would prefer just to let them expire for those making more SteveG May 2012 #39

Agree. TBF May 2012 #48

I don't see much point in raising taxes as long as capital gains are exempt 4th law of robotics May 2012 #41

I don't understand why it has to be either/or ? kentuck May 2012 #46

It should be both - the capital gains thing is very important. TBF May 2012 #49

I think that would be a good start... kentuck May 2012 #50

I think it has to be all or none taught_me_patience May 2012 #53

Yes. Iggo May 2012 #58