bedub wrote:Basically his cuts will amount to 4.8 trillion over 10 years. He says his cuts will be revenue neutral, but we know that is a lie.
bedub's article wrote:and it’s about $456 billion a year.
You think that the government who takes in around $2.2 trillion in tax revenue (and spends $3.3 trillion LOL) is going to go from $2.2T down to $1.75T? You are out of your mind.
bedub wrote:He honestly thinks that his 14% tax rate is too high
You are aware that the top tax bracket is 35% (currently), right? Not 14%. You can't be talking about capital gains taxes, because those are at 15-28% (depending on the type) and are not income taxes.
Then you say-
bedub wrote:he middle class's 25-35% tax rate is too low
and who are you talking about here? Let's ignore for a moment as well that you quote in some article the following-
bedub's article wrote:It is true that a central facet of Mitt Romney’s economic plan is a 20 percent across-the-board reduction in marginal tax rates,
and look at your 25-35% rate.
The 35%, of course, is the top rate. Which you are calling the middle class. The top rate, which rich people have to pay on income
Here are the current marginal rates in the US-
10% for $0-$8700
15% for $8701-$35,350
25% for $35,351-$85,650
28% for $85,651-$178,650
33% for $178,651-$388,350
35% for $388,351+
So where is the 14% rate bracket? I don't see it anywhere on there. Of course, you ignore your own quoted article that claims Romney is calling for a 20% ACROSS THE BOARD tax cut for marginal tax rates. You know, the reason it's supposedly true that Romney wants a $5 trillion tax cut "for the rich".
Which is true of your claims, because they can't both be true.
Is it that Romney wants to cut the marginal rate 20% across the board or that he wants to raise the 25%-35% marginal tax rate?
Now, since you say that Romney is indeed trying to get a $5 trillion tax cut (LMAO), then that must mean that you really mean the first part is true and are either lying or mistaken about the second part. So if there is a 20% tax cut across the board, then anyone making under $85K has a Zero marginal tax rate. Sweet! Yeah, that' really sucks for the poor, doesn't it?
You are making contradictory statements. The fact checkers have already debunked Obama's lie of the $5 trillion tax cut. That' is completely debunked and a proven lie. It's not my fault you refuse to see it.
But here is something, a quote spoken today by none other than Joe "Plugs" Biden-
Joe Biden wrote:My heart breaks, come on man. You know the phrase they always use? Obama and Biden want to raise taxes by a trillion dollars. Guess what? Yes we do in one regard. We want to let that trillion dollar tax cut expire so the middle class doesn’t have to bear the burden of all that money going to the super wealthy. That’s not a tax raise, that’s called fairness where I come from.
What's hilarious about this is that to achieve this trillion dollar tax raise is to let the so called Bush tax cuts expire at the end of this year.
Hey, guess what happens then, bedub? The rates increase in every single one of those tax brackets.
That top tax bracket will go up from 35% to 39.9%. And so will every single one of the other rates increase.
This will be the new tax rates-
15% for $0-$26,250
28% for $26,251- $63,500
31% for $63,500- $132,600
36% for $132,601- $288,350
39.9% for $288,351
Man, can't you see? The supposed "getting the burden off the middle class" is BS. The middle class will be paying more in taxes, as will the rich.
But the sick thing, and Obama won't tell you this and is a fact people like you don't seem to understand. Rich people don't make income. Their money comes from capital gains, which is the same tax rate for everyone, depending on the type of capital investment.
The working people pay the income taxes. Any talk about raising taxes on the rich is really raising taxes on people who freaking work. Everyone, which hurts the poor more than anyone else.
Just look at the numbers for goodness sake. It's right there, you can look it up yourself.
Compare current tax rates to that of 2000, which is where the tax rates will revert if the Bush tax cuts are allowed to expire. You can plainly see that the rate increases on every income level.
Now if you want to raise the capital gains tax, to "punish the rich", then you aren't thinking that through either. A capital gains tax increase will hurt the middle class far more than the rich. You know, the people who are working, making 80K-120K (or even less more often), when they sell their house, sell stocks, put away money into retirement plans, certain retirement savings plans, interest on savings accounts, selling a business and a whole crapload of other types of capital gains, you will be killing the middle class who need those tax breaks the most.
You can't base the capital gains tax rates based on how rich someone is or isn't. The capital gains rates are determined by the type of investment itself, not on the person transacting the sale or profit. Do you want the working people to have to pay greater taxes on the interest they earned over a year from their savings account? I don't. Apparently, you do.
It doesn't matter, bedub, no matter what is the truth you will continue to drink the cool-aid of "your side". Until you finally realize that the cool-aid you're drinking is the same stuff that "the other guy" is supposedly trying to make you drink, you keep on living in La La land of "My Side is the Best Side".
You're getting screwed all the same either way. If you like that sort of thing, then by all means, keep thinking Obama is the honest politician and that it's only Romney that's the evil liar. Or that it's the Democrats who are noble and just and the Republicans who are wicked and deceitful.
The truth is, they are all the same. They feed you crap and trick you into asking for seconds. Enjoy your dinner!