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4550
Points

Revoke the George W. Bush tax cuts for the top 1 %.

The notion that giving the owners of the companies more money so that it will eventually trickle down to the common people is absurd. People WITH money HAVE money because they know how to KEEP money.
9 Comments  »  Posted by http://warismyconcern.wordpress.com to Economy on 1/12/2009 11:43 AM

Comments

 
Patrick
1/12/2009 11:48 AM
I think repealing the Bush tax cuts will send a signal to Wall Street and the world that business as usual is no more.  Also, the money from the cuts can help reduce the deficit and get us more fiscally sound.
 
tamiisaqt
1/12/2009 1:39 PM
When will those greedy rich fools relise that they can't keep ripping off their employees (the middle class) while padding their own pockets full of tax free cash (yay tax havens!) They still don't seem to see the middle class are the pillars of their success. If they put us all in poverty, who do they think is going to buy their products and services? There is not enough of them to buy from eachother. The fall of the middle class will also be their own. Greedy rich fools and business owners: value your employees, pay them enough so they can keep spending! Government: protect the middle class, outlaw tax havens!
 
saraf
1/12/2009 3:22 PM
Keeping the Bush tax cuts in order to placate Republicans such as John Boehner and Mitch McConnell is simply giving in to blackmail.  The Republicans seem to think that they can dictate the terms of any economic recovery plan.  I believe that their adherence to a "free" market with little or no regulation and insistence on constant tax cuts for the wealthiest of Americans has been a major factor in the current economic crisis.  If the Republicans insist on filibustering any relief until all of their conditions are met, they should be allowed to do so and the facts should be well publicized.  I am retired, with my savings rapidly melting away and I did everything I was theoretically supposed to -- I own my home and my cars and I pay my credit cards in full each month, yet I am supposed to give more in order to reward those who caused this mess.  The Bush tax cuts were wrong when they were given; they have done nothing for the middle classes and never will; and there is no such thing as "trickle down".  Stop giving in without at least the semblance of a fight.
 
kreinert
1/12/2009 10:23 PM
MEXICAN DRUG WAR is AMERICAN DRUG WAR

I strongly encourage everyone who votes up this idea to vote up the idea MEXICAN DRUG WAR is AMERICAN DRUG WAR: Revamp the Controlled Substance Act for Border Security

Here's where you can find it:
http://citizensbriefingbook.change.gov/ideas/viewIdea.apexp?id=087800000004mhk&srPos=2&srKp=087

To be politically expedient, we should not be asking Obama to "legalize marijuana." We should ask him to revamp the Controlled Substance Act, descheduling marijuana so that it may eventually be feasible to make legalized.

Since it is a new idea and needing a BOOST, please vote this up and encourage all your friends to do so as well!

MEXICAN DRUG WAR is AMERICAN DRUG WAR!
 
Western Democrat
1/13/2009 1:39 AM
Yes, we can repeal them, just not when we're in a recession. In times like these, there are two things you absolutely do not do: 1. increase taxes and 2. cut spending. Both cause negative implications on the economy. and they're the last things we should do right now. Obama, as well as his advisors, knows this, which is why they're going to let them expire in 2010 (Which is also a smart move, so no one is on record as voting to raise taxes).
 
TheRealist
1/13/2009 11:25 AM

The Bush tax cuts don't have to be repealed, they will expire on their own next year. 

Rather than beating on the rich to make ourselves feel better in the short term, why don't we just demand less government spending?  Less spending means more money in my pocket as a taxpayer, because the government needs less of my money to operate.

If you're not a taxpayer or got a "refund" greater than what you paid in taxes, then please don't complain about how much "the rich" do or don't pay, as you are already getting welfare from the government.  You are already getting some of the money from the rich, and have done nothing for it. 

If you need help, ask for it, don't demand it.  If there were lower taxes for all, I'd have more money to give to be used as I see fit, rather than relying on the government to determine who needs it, and how much they need.  My way gets 100% of my donation to the family that needs it.  Going through the government means that they get to keep a cut.

Less taxes also means more spending on a personal level for a lot of people.  More spending means more jobs.  More jobs means less poor.  More spending and less poor means a better economy.  A better economy means lower deficit. 

 
A_Trees
1/13/2009 2:17 PM
Exactly, what good are higher taxes (or lower) if we still maintain a deficit? What we really need is a change in philosophy on how money is spent in Washington.

What we need to accompany the tax increase is something to prevent congress from eating it up and then some. Otherwise, we're just taking money out of the economy and wasting it on bureaucracy. 
 
fauster
1/13/2009 5:16 PM
In the last 40 years, the earning power of the middle class has barely increased.  The income of the top 20% has increased by well over 60 percent.  We were told that the wealth would trickle down someday, and it hasn't.  We were told that giving the rich every advantage with regard to primary, secondary, college, and post-college eduction would pay off for everyone, and it didn't.  Right now, we're defecit spending to get out of the recession.  Someday, we'll need to pay it off, and, and pay for social security too.  The way taxes and education are structured in the United States has benefited the rich far more than the rest of us.  In an economic emergency, I think its not unwarranted to ask the top 20% to pay more, rather than just the top 1-5%.  

http://blog.mulbrandon.com/wp-content/householdncome_40_60_80.png
 
shadow1961
1/13/2009 6:09 PM
Bring back the 90-% marginal top rate for the duration of this economic emergency. If it's good enopugh for Roosevet it's good enough for Obama!
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