Obama/GOP Tax Cut Deal will Cost 900+Billion The 2nd Stimulu
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The Obama / GOP deal will Cost 900+Billion and all of that will be added to the Deficit- Just image if the GOP wasn't about cutting the deficit! :shock: :shock: Good thing they were elected to cut the spending... :roll:
This has now been coined as the Second Stimulus!
Here's more or less how it's broken down:
* Extending the broad-based Bush tax cuts (for the bottom 98%): $360 billion cost, 940,000 new jobs
* Payroll tax cuts (2 percentage-point reduction): $120 billion cost, 700,000 new jobs
* Unemployment insurance extension: $56 billion cost, 520,000 new jobs
* Bonus tax cuts for top 2%: $120 billion cost, 290,000 new jobs
* 100% expensing/bonus depreciation: $180 billion cost, 260,000 new jobs
* Refundable low-income tax credits: $38 billion cost, 220,000 new jobs
* Business extenders such as R&D tax credit: $80 billion cost, 160,000 new jobs
http://srph.it/egnazK
This has now been coined as the Second Stimulus!
Here's more or less how it's broken down:
* Extending the broad-based Bush tax cuts (for the bottom 98%): $360 billion cost, 940,000 new jobs
* Payroll tax cuts (2 percentage-point reduction): $120 billion cost, 700,000 new jobs
* Unemployment insurance extension: $56 billion cost, 520,000 new jobs
* Bonus tax cuts for top 2%: $120 billion cost, 290,000 new jobs
* 100% expensing/bonus depreciation: $180 billion cost, 260,000 new jobs
* Refundable low-income tax credits: $38 billion cost, 220,000 new jobs
* Business extenders such as R&D tax credit: $80 billion cost, 160,000 new jobs
http://srph.it/egnazK
Post edited by Unknown User on
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Yeah - No F'ing kidding here is what Christine O’Donnell said,
"the extension of jobless benefits a “tragedy,” comparing it to Pearl Harbor and the death of Elizabeth Edwards:
“Today marks a lot of tragedy. … Tragedy comes in threes,” O’Donnell said. “Pearl Harbor, Elizabeth Edwards’s passing and Barack Obama’s announcement of extending the tax cuts, which is good, but also extending the unemployment benefits.”
This is what people voted for! Now lets see them come on this thread and defend the 900+billion! How American is that!?!
Sounds about par for the course: Extending tax cuts to benefit the rich = good. Extending unemployment benefits to help the poor = bad. The Republicans are the party who got America into the mess it's in, and now they're refusing to help the people whose lives they've ruined. Way to stick up for the little guy.
Is the GOP fighting for the Middle Class?
Who is really benefiting from all of this?
they are keeping tax rates the same as they are now on individuals, what is wrong with that? why do taxes need to go up on anyone...the government got themselves into this with irresponsible spending, and they should get out of it at a cost to themselves, not the American taxpayer.
if they just did away with the god damn loopholes they keep in the tax code for everyone they would get a lot more in "revenue", they could also move to a VAT tax, or some other way of doing it. Earned income of individuals should not be a primary source of "revenue" for the government, taxing goods and services is a much better way, as they will get there money from businesses but also from consumers making a choice to buy products. Individuals' income should be taxed as minimally as possible
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
These tax cuts are already in place. That is a very wrong and misleading statement.
opportunity cost.
they have an opportunity for this tax revenue by letting the tax cuts expire. so yes, it is costing something.
Letting the tax cut expire simply removes any responsibility of our government to follow a budget of any kind. That is what needs changed. Allowing these tax cuts to expire is the equivalent of allowing someone to give themselves a pay raise to spend more $.
Besides, the responsibility of our gov to follow a budget seems to be more of a political talking point than anything...surprisingly by republicans. I always saw that party as one for fiscal responsibility. :?
No kidding, those Repubs need to get their heads out of their collective ass and stop spending like mad.
1. No, they are about hamstringing the president and stalling any real progress at all costs until the house majority takes over. they do not care about cutting spending. look at the tea party caucus that asked for $1 billion in earmarks in the "tea party hypocracy" the thread last week.
2. NO. they voted against a standalone bill to keep only middle class tax cuts. they are all about their rich base and their votes prove that.
who is benefitting? not the average american, and that is the truth.
"Well, you tell him that I don't talk to suckas."
Well said. I also agree w/ MikePegg on everything but the VAT tax. In UK they have abused that like our gov't abused Social Security. Anytime the gov't needs a little more money- always - they raise the VAT tax. I think it's over 15% now!!
This is OUR money!!! I work hard for it- and I'm tired of politicians stealing it!!!
Ordinary income (including dividends) = 39.6%
Medicare tax on wages in 2013 = .9%
Medicare tax on net investment income = 3.8%
Total federal tax rate = 44.3%
Assumed state rate = 6%
Total income tax rate = 50.3% (and does not include FICA, medicare, sales tax, gasoline tax, etc...)
Estate tax rate = 55%
How can anyone support taxes this high? We are throwing our money away to the government.