Ok, at the end of the year the Bush Tax Cuts expire. We need to rename this The Bush Tax Bomb as the Congress thinks about making this permanent.
It is just like the Bush Economic Bomb that exploded in September of 2008 that took out our finances. Could any of us imagine had the GOP gotten the economy to sputter another two months more into November and exploded AFTER the election of Barack Obama? (You think the GOP is threatening impeachment now...)
The Tea Party People (Taxed Enough Already) are being irresponsible when they want to eliminate taxes and increase military. Unfortunately we are not taxed enough already. We need to pay for what we bought.
The government dumped huge amounts of money into the economy in terms of stimulus with the idea, "We are going to kick start the economy." Paul Krugman has it right when he talks about this cash not being enough. But the problem now is this stuff appears to be hoarded. Those who got the capital are sitting on it.
That is why the economy sputters.
The GOP plan for November is to lower or eliminate taxes -- look what happened with Reagan in the 1980's!
The counter to that: Clinton raised taxes in 1993 -- look what happened - economic growth!!
Why?
What is not factored in is the Greed Motivation. Greed motivates segments of our population; the greedy has money because that is their desire in life; and indirect form of control. However, if you say the government will take that money in the form of taxes, they get apoplectic. The greedy need control.
The government needs to de-incentivize these hoarders. If you are sitting on too much of the stuff, yeah, we are going to tax it so you don't have it. The rest of the country needs it. There is a fixed amount of this stuff printed. It does no one any good for you to sit on it. If you want to invest it, get the money into circulation. You won't get taxed when you do that.
Go back to what Capitalism really is:an economic system dependent upon the flow of capital.
If a segment of the economy kills the flow of cash, the whole economy withers on the vine. No one is saying you can't make a profit -- please do it to the best of your ability. Put steam in the engine to make our society go. But, if you are going to stop access to the fuel tank -- the rest of society needs to take action in the form of government intervention -- TAXES.
You know it is not unlike a foreign country saying we have oil reserves and we may not to give access to you. Neo-cons from both Bush administrations basically said, our society needs to take action in the form of government intervention -- WARS.
To those who are vehemently against any form of taxation, if you allow the Bush Tax Bomb to explode by making it permanent, when do we pay for the 2 wars we are currently fighting?
Fred Thompson: Renew the Bush Tax Cuts
Tax cuts and tanks require real money
Geithner Won't Rule Out Extending Bush-Era Tax Cuts for the Wealthiest
Research desk compares: Who gets hit hardest if the Bush tax cuts expire?
Mayor Bloomberg: Bush tax cuts for the rich should be extended so wealthy can ...
Speaker Pelosi wants pre-election tax cut vote
The Republican economic agenda
You errantly mis-define capitalism in a way that justifies state theft of capital to cause it to flow. There is no definition of capitalism that fits your claim. If private property, private decision making and freedom are parts of the definition you cannot justify confiscation to cause capital to flow by the state.
Merriam Webster: Capitalism- an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market
http://www.merriam-webster.com/dictionary/capitalism
Cut expenditures and then cut some more. We have all had to cut costs and the governmnent should not be immune. Stop finding excuses to take more from the private person. Stop spending.
here is a short analysis from wikipedia... Part 1
The Wall Street Journal, and other similar sources have spread among the general public a partial and misleading vision of Smith, portraying him as an "extreme dogmatic defender of laissez-faire capitalism and supply-side economics".[92] In fact, The Wealth of Nations includes the following statement on the payment of taxes:
"The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state."[93]
Smith even specifically named taxes that he thought should be required by the state among them luxury goods taxes and tax on rent. He believed that tax laws should be as transparent as possible and that each individual should pay a "certain amount, and not arbitrary," in addition to paying this tax at the time "most likely to be convenient for the contributor to pay it".[93] Smith goes on to state that:
"Every tax, however, is, to the person who pays it, a badge, not of slavery, but of liberty."[94]
Additionally, Smith outlined the proper expenses of the government in The Wealth of Nations, Book V, Ch. I. Included in his requirements of a government is to enforce contracts and provide justice system, grant patents and copy writes, provide public goods such as infrastructure, provide national defense and regulate banking. It was the role of the government to provide goods "of such a nature that the profit could never repay the expense to any individual" such as roads, bridges, canals, and harbours. He also encouraged invention and new ideas through his patent enforcement and support of infant industry monopolies. he supported public education and religious institutions as providing general benefit to the society. Finally he outlined how the government should support the dignity of the monarch or chief magistrate, such that they are equal or above the public in fashion. He even states that monarchs should be provided for in a greater fashion than magistrates of a republic because "we naturally expect more splendor in the court of a king than in the mansion-house of a doge."[95] In addition, he was in favor of retaliatory tariffs and believed that they would eventually bring down the price of goods. He even stated in Wealth of Nations:
"The recovery of a great foreign market will generally more than compensate the transitory inconvenience of paying dearer during a short time for some sorts of goods."[57]
http://en.wikipedia.org/wiki/Adam_Smith#In_economics_and_moral_philosophy
Adam Smith is by no means the last word on capitalism and yet he did not state the need for government to force private parties to cause capital to flow by confiscation nor even by demanding it under threat or extortion.
Try again.
What's with the lockdown though?
no clue...
Why then would they *ever* make a tax with a simple expiration date on it, and why would it just happen to expire at precisely a good time for them to take political advantage of it? It, horror upon horrors, McCain had won they'd be making the same exact arguments with no care for the budget in respect to these taxes.
Call the GOP out on their hypocrisy. Their tax cut god Reagan added huge amounts to the deficit. If they're serious about honest budgeting they should be serious about doing what it takes to fix it, and what it takes to fix it is not adding more debt on top of the deficit, which is what tax cuts are.
'Cause I in no way think they are wars.
If they get their way, they won't create jobs any more than they did when they got the tax cuts to begin with.
I'm tired of these faux capitalists being rewarded for sending American jobs overseas and failing to create good jobs for Americans with the corporate welfare they get.
you may also be interested in this item from Paul Krugman
Hey, Small Spender
One of the things everyone knows right now is that Obama has presided over a huge increase in government spending. But like so many of the things everyone knows, it isn’t true.
In short, the giant increases in government spending we keep hearing about are a myth; if there had been more truth to that myth, the economy wouldn’t be as depressed as it is.
http://krugman.blogs.nytimes.com/2010/08/03/hey-small-spender/?src=twt&twt=NytimesKrugman
KWG kittywithglasses
Hoarding is a sickness (as seen on television), and the remedy is taxes so that the wealth can be generated and the countries strength re-invigorated.
We have no choice or we all will be wanting "our America" back.