Posted by: maboulette | November 15, 2010

TAX CUT FOR THE RICH

The richest 2% of Americans are demanding an extension of George Bush’s tax cuts for themselves, which would add over $700 billion to our national debt over ten years.

As President Obama said, “we can’t afford to borrow and spend another $700 billion on permanent tax cuts for millionaires and billionaires.”

Tell your Representatives:
No $700 Billion Tax Cut for the Rich

Our national debt is nearly $14 trillion and we need to reduce it. The Deficit Commission is even considering unacceptable cuts to essential middle-class programs like Social Security.

The first way to cut the debt is to eliminate tax cuts for people who don’t need them. And the rich don’t need a tax cut – they are rolling in dough while the rest of us struggle to survive.

Tell your Representatives:
No $700 Billion Tax Cut for the Rich

If tax cuts for the rich created jobs, Bush’s tax cuts would have created a booming economy. Instead they brought us to the brink of a Great Depression in 2008 and created our current Great Recession with nearly 10% unemployment.

Tell your Representatives:
No $700 Billion Tax Cut for the Rich

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Responses

  1. i don’t understand this idea of ‘paying for tax cuts’. that is ignorant. tax cuts affect revenue. the deficit is caused by spending. you don’t ‘pay’ for tax cuts. when you are in debt, your problem is spending.

    we should not single out individual groups of people because our govt is incompetent and irresponsible.

    “it’s all how much you spend, not how much you make.” DLR

    • Doug – a tax cut mean less revenue coming in – the budget which is money going out has already been approved – so there will be a “deficit” between income and expenses and that deficit has to be made up some how. I guess you are not into accounting either. Doug – you listen to Fox News too much. Read some books on accounting or economy – turn the television off.

      By the way, why did you only comment on articles about political views and nothing on photographies that I have taken ec ? Just wondering.

      If you would like to understand both side of an issue – watch the video on the “The Power of Nightmares”.

    • Doug,

      If you’re making $40,000 a year and you spend $42,000 a year you are running a $2,000 deficit, so you borrow $2,000. If you’re pay gets cut to $35,000 a year and you spend $42,000 a year then you’re deficit just increased to $7,000 and you’re borrowing will increase by an additional $5,000. Get it?

  2. How about we cut pay for anyone in government who makes more than the average American. Also lets put all these Senators and Congress Persons retirement packages back into the SS found where they belong. You want to share the wealth lets really share the wealth. Also the budget is done yearly encase you missed that part so they can stop spending and start saving the federal government is fat and bloated everyone knows it.

    • First of all – where do you get this “you want to share the wealth” – I could care less if the wealth is shared and I agree with any cuts that can be made – but, you won’t get any of the Congress to agree on any of it. The Deficit Commission that Obama appointed can out with cut to everything and both the Democrats as well as the Republican yelled about something. The problem is that our Congress represent the people who fund their re-elections – to hell with “we the People”. They could care less about us and what is good for all.

      Also – Dusty – the budget is done a year in advance just in case you don’t know or you missed that part. They are currently working on the budget for next year not this year.

      Thanks for stopping by!

  3. The tax cuts for the rich is a lie. I made less than $60,000 a year and my taxes went down when the tax cuts were enacted. I am not rich. Historically, when taxes are lowered(cut) it allows more money to be spent by Americans this promoting growth and brings in more revenue for tge government. Besides why should people who make more pay a progressive(higher) tax percentage? If taxes were 17% on all income than those who make more would pay more. The tax policy is simply class warfare. Pitting those who make lesscagainst those who make more.
    P.S. Congressmen make $175,000 per year and get full retirement benefits after one term. Why dont we get mad at tge money they make as public servants.

    • Actually it is not a lie – everyone got their taxes reduced with the Bush tax cut. The Democrats want to keep the tax cuts for everyone making under 250,000 which would include you. They only want the tax cut for the top 2% to expire – this is because it would add 70,000 billion dollars over 10 years to continue the cut for those who are rich. It has not promoted any growth or created any jobs in the 10 years that the tax cut for top 2% has been in effect. As for a flat 17% taxes – that is a whole other issue but it is one that the Congress is not even considering.

      As for the Congressmen making what they do then getting full retirement – who said people are not mad about that? You read one article, commented on it and then brought up two issues that have nothing to do with that one article. When commenting in the future, try to stay on topic.

      Thanks for visiting.

  4. Here’s a nice little chart that explains the Bush tax cut policy and the Obama tax cut policy.

    The grey circles represent the tax cuts everyone gets if we keep the Bush tax cuts. The blue circles represent the tax cuts everyone gets if we pass the Obama tax cuts.
    Derek, looks like you’ll get a bigger tax cut under Obama’s plan. Oh and the rich still get a tax cut, just not as big as before. Guess they will have to cut out that $12,000 trip to the Caymans this year.


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