"Tax cut" : Let's Define what it means | TigerDroppings.com

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theunknownknight
LSU Fan
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Member since Sep 2005
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"Tax cut" : Let's Define what it means


Tax cut = the lowering of the current tax rate

Tax cut <> maintaining the current rate which happens to be lower than the rate 12 years ago

What Obama is really saying: the government is ENTITLED to the higher rates, ergo if the rate STAYS THE SAME, it is considered a tax cut.

Think about that for a minute.

Also consider that Obama extended the "tax cut"

The problem is the republicans are letting the democrats frame the debate here. By saying we are extending "cuts" we are buying into a government entitled rate higher than today.

Tax cuts/hikes should be defined by the current rate.







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Archie Bengal Bunker
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Member since Jun 2008
15252 posts

re: "Tax cut" : Let's Define what it means


So, you are saying if we let a tax cut [lowering the current rate] extend long enough, then removing that cut becomes a tax raise?





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theunknownknight
LSU Fan
Baton Rouge
Member since Sep 2005
27617 posts

re: "Tax cut" : Let's Define what it means


quote:

So, you are saying if we let a tax cut [lowering the current rate] extend long enough, then removing that cut becomes a tax raise?


If taxes go up, it's a tax increase. Period. I don't care what it was 12 FREAKING YEARS AGO






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theunknownknight
LSU Fan
Baton Rouge
Member since Sep 2005
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re: "Tax cut" : Let's Define what it means


:crickets:

Where are the libs?






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LSUnKaty
LSU Fan
Katy, TX
Member since Dec 2008
3621 posts

re: "Tax cut" : Let's Define what it means


quote:

"Tax cut" : Let's Define what it means

Rudy Giuliani schooled Rachel Maddow and her square framed little friend on this very issue last night on MSNBC.






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Scrowe
New Orleans Saints Fan
Louisiana
Member since Mar 2010
1454 posts

re: "Tax cut" : Let's Define what it means


quote:

Rudy Giuliani schooled Rachel Maddow and her square framed little friend on this very issue last night on MSNBC.


They had no substance to their attack on Giuliani so all they could do is yell, talk over him and then cut from him with Maddow making a smart arse remark.






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theunknownknight
LSU Fan
Baton Rouge
Member since Sep 2005
27617 posts

re: "Tax cut" : Let's Define what it means


quote:

They had no substance to their attack on Giuliani so all they could do is yell, talk over him and then cut from him with Maddow making a smart arse remark.


This "tax cut" concept is the heart of the attack on Romney though. Basically, Obama is going to RAISE taxes on the rich and Romney is going to leave the rates alone.

Yet, Romney is being accused of CUTTING the rate, and Obama is claiming to not raise taxes?

Obama can't have it both ways.






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Powerman
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Corpus Christi, TX
Member since Jan 2004
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re: "Tax cut" : Let's Define what it means


Yeah I've never understood how keeping the current rate the same means a tax cut

But isn't Romney proposing tax cuts compared to the current rates?






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LSUnKaty
LSU Fan
Katy, TX
Member since Dec 2008
3621 posts

re: "Tax cut" : Let's Define what it means


quote:

So, you are saying if we let a tax cut [lowering the current rate] extend long enough, then removing that cut becomes a tax raise?
Hey - That's right. You finally get it.

What is the "current rate" by the way? Is it the rate one pays today or the rate one payed 12 years ago?

HINT: (from dictionary.reference.com/browse/current) Definition of current.

cur·rent adjective
1. passing in time; belonging to the time actually passing: the current month.
2. prevalent; customary: the current practice.
3. popular; in vogue: current fashions.
4. new; present; most recent: the current issue of a publication.
5. publicly reported or known: a rumor that is current.
6. passing from one to another; circulating, as a coin.
7. Archaic. running; flowing.
8. Obsolete. genuine; authentic.






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Zach
LSU Fan
Member since May 2005
63849 posts

re: "Tax cut" : Let's Define what it means


I've heard Obama declare that he has initiated lots of tax cuts. But he's including the $50 write off you get for installing an energy efficient window. That's an absurd definition of the term 'tax cut.'





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theunknownknight
LSU Fan
Baton Rouge
Member since Sep 2005
27617 posts

re: "Tax cut" : Let's Define what it means


quote:

Yeah I've never understood how keeping the current rate the same means a tax cut But isn't Romney proposing tax cuts compared to the current rates?


No. Romney is proposing leaving the income tax rate the same while getting rid of certain deductions, while reducing/clarifying economic regulations.

His goal is to attack the triangle of economic growth/government revenue from two sides at once (cut spending, promote Econ growth).

I think his plan is questionable but it is >>>>> just raising taxes (Obama's plan)






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theunknownknight
LSU Fan
Baton Rouge
Member since Sep 2005
27617 posts

re: "Tax cut" : Let's Define what it means


quote:

I've heard Obama declare that he has initiated lots of tax cuts. But he's including the $50 write off you get for installing an energy efficient window. That's an absurd definition of the term 'tax cut.'


The government is ENTITLED to our money before everyone else according to Obama's worldview. Keep that in mind and everything makes more sense.






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Jax-Tiger
LSU Fan
Portland, OR
Member since Jan 2005
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re: "Tax cut" : Let's Define what it means


How come they never put an expiration date on tax increases?





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theunknownknight
LSU Fan
Baton Rouge
Member since Sep 2005
27617 posts

re: "Tax cut" : Let's Define what it means


quote:

How come they never put an expiration date on tax increases?


This is a rhetorical question. The government has gone from being our humble "servant"to being our entitled "land lord"

Taxes are simply OUR income we agree to GIVE the government via elected representatives.

Obama sees it like this: INCOME is something the government ALLOWS us to have after taking taxes via wealth redistribution.






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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
22662 posts

re: "Tax cut" : Let's Define what it means


quote:


What Obama is really saying: the government is ENTITLED to the higher rates, ergo if the rate STAYS THE SAME, it is considered a tax cut.
They do the same with spending, too.

If your budget for next hear is 10% higher than the current year, but it's reduced to only 5% higher, it's demonized as a 5% cut, even though the actual amount you get is higher.

Awesome, huh?






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
34747 posts

re: "Tax cut" : Let's Define what it means


quote:

This "tax cut" concept is the heart of the attack on Romney though. Basically, Obama is going to RAISE taxes on the rich and Romney is going to leave the rates alone.

Yet, Romney is being accused of CUTTING the rate, and Obama is claiming to not raise taxes?
Obama can't have it both ways.


Yes. Technically this is accurate. Obama wants to let a tax cut (that was NEVER intended to be permenent) expire, while Romney wants an actual tax cut in addition to the extension of the various "temporary" cuts enacted under Bush.

Don't see the problem in the framing as it is correct in both semantics and actuality.






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tigeraddict
LSU Fan
Baton Rouge
Member since Mar 2007
4739 posts

re: "Tax cut" : Let's Define what it means


quote:

So, you are saying if we let a tax cut [lowering the current rate] extend long enough, then removing that cut becomes a tax raise?





why not. It's all subjective. If you go from paying x to paying more then x you are paying more taxes and thus a tax increase has ocured....

quote:

In order to help pay for its war effort in the American Civil War, the US federal government imposed its first personal income tax, on August 5, 1861, as part of the Revenue Act of 1861 (3% of all incomes over US $800) ($20,693 in 2011 dollars).[12][verification needed] This tax was repealed and replaced by another income tax in 1862.


what we see now is a tax increase from the first Federal Income tax. lets go back to that then.....






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theunknownknight
LSU Fan
Baton Rouge
Member since Sep 2005
27617 posts

re: "Tax cut" : Let's Define what it means


quote:

Yes. Technically this is accurate. Obama wants to let a tax cut (that was NEVER intended to be permenent) expire, while Romney wants an actual tax cut in addition to the extension of the various "temporary" cuts enacted under Bush.


Then...why did Obama extend the tax "cuts"?

Will rates rise under Obama's plan our not?

Rates have been the same for TWELVE years



This post was edited on 10/4 at 11:14 am


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Bard
LA-Monroe Fan
BR
Member since Oct 2008
16177 posts

re: "Tax cut" : Let's Define what it means


quote:

Obama wants to let a tax cut (that was NEVER intended to be permenent) expire, while Romney wants an actual tax cut in addition to the extension of the various "temporary" cuts enacted under Bush.


That's not the whole picture. Under the Romney plan the "rich" would still pay the same effective rate because various loopholes and deductions would be closed.






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theunknownknight
LSU Fan
Baton Rouge
Member since Sep 2005
27617 posts

re: "Tax cut" : Let's Define what it means


quote:

why not. It's all subjective. If you go from paying x to paying more then x you are paying more taxes and thus a tax increase has ocured....


I look at it like this:

A person gets a variable mortgage interest rate. When that person signs he originally pays a rate of 8% for 8 years. Then the rate goes down to 4% for 12 years. What do you think that person will say when the rate goes back to 8%?

"No biggie, I owed 8% all along anyway..."???


Are libs retarded?






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