Why not just extend current tax rates to get us past the fiscal cliff? | TigerDroppings.com

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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
20372 posts

Why not just extend current tax rates to get us past the fiscal cliff?


Is it really disastrous to extend the current rates? If both sides say we need more time to debate a larger package, then just extend the status quo. Why get into a fight over just 2% of the population?






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50Mullets
LSU Fan
A more civilized age
Member since Oct 2012
1433 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


Because you're assuming that politicians say what they mean.





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mmcgrath
LSU Fan
New Jersey
Member since Feb 2010
3196 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


quote:

Is it really disastrous to extend the current rates? If both sides say we need more time to debate a larger package, then just extend the status quo. Why get into a fight over just 2% of the population?
The status quo is that they go away.






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Diamondawg
Mississippi St. Fan
Mississippi
Member since Oct 2006
10102 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


quote:

Is it really disastrous to extend the current rates? If both sides say we need more time to debate a larger package, then just extend the status quo. Why get into a fight over just 2% of the population?

Didn't we do that 2 years ago? Fish or cut bait. Poop or get off the pot.






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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
20372 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


quote:

The status quo is that they go away
semantics. You know what I mean.






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roygu
Member since Jan 2004
7895 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


Never waste the opportunity of a good crisis. Its to the point if there is no crisis use whatever means necessary to generate one.





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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
20372 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


quote:

Didn't we do that 2 years ago? Fish or cut bait. Poop or get off the pot


Yeah but do you really think either side is going to negotiate if they get everything they want? Dems only want taxes to increase on the top 2% (how that helps the economy, I have no clue) and republicans want entitlement reform. In response both are holding the 98% they agree with hostage.



This post was edited on 11/29 at 2:55 pm


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McChowder
LSU Fan
Hammond
Member since Dec 2006
2771 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


Why would we want to extend a tax policy that has increased revenue by %44 since it was first signed into law? Obviously it needs to be changed!!





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Diamondawg
Mississippi St. Fan
Mississippi
Member since Oct 2006
10102 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


quote:

Yeah but do you really think either side is going to negotiate if they get everything they want?
No. Get your cliff parachute packed.






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WildTchoupitoulas
Member since Jan 2010
13850 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


There's a political point you're missing.

The President has to show his supporters that he is for the little guy, and the Republicans have to show their supporters that they are for the big guy.

It has nothing to do with revenue.






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WildTchoupitoulas
Member since Jan 2010
13850 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


quote:

Dems only want taxes to increase on the top 2% (how that helps the economy, I have no clue)

It doesn't.

But that's 2% of taxpayers.

If we assume the 47%/53% numbers are correct, we're talking about less than 3.5 million people. Why hold everything up just for those few people? 1% of the population, that's out past the 3rd standard deviation.






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wickowick
LSU Fan
Head of Island
Member since Dec 2006
20056 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


A large percent of the population thinks that by raising the taxes on the rich that the budget (wait what budget) will be balanced. Many do not understand that taxing the rich is nothing more than class warfare...





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germandawg
Member since Sep 2012
2718 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


quote:

Yeah but do you really think either side is going to negotiate if they get everything they want? Dems only want taxes to increase on the top 2% (how that helps the economy, I have no clue) and republicans want entitlement reform. In response both are holding the 98% they agree with hostage.


This is how the system works....Obama ran on (and got elected) a platform that included allowing the Bush era tax cuts expire for the top 2%. Republicans want to reform entitlements. This is how both sides do what they want. It isn't the first time and won't be the last time. By allowing the tax cuts expire for the top 2% republicans earn some political capital that they will most likely spend on entitlement reform and The Dems earn credibility with their base for doing what they said they were going to do. It is really that simple. What is REALLY gonna get interesting is the mid-terms when Dems are going to be able to say that they kept taxes from going up on 98% of the population but had to agree with Republicans to cut entitlements to do so. Not exactly gonna make the GOP look very pretty.....






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germandawg
Member since Sep 2012
2718 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


quote:

A large percent of the population thinks that by raising the taxes on the rich that the budget (wait what budget) will be balanced. Many do not understand that taxing the rich is nothing more than class warfare...


Bull shite...taxing the rich is not class warfare anymore than taxing the poor is. Taxes are the price we pay for living in society. No one likes them and almost everyone would skip paying them if they could, but taxing people is not class warfare. Of course that is not what you meant, you meant raising taxes on the top 2% os class warfare and again that is bull shite. If we were talking about some sort of punitive increase in taxes, say a return to the days when the top marginal rate was 90% or so, then your argument would be more sound. Taxes suck no matter who is paying them but they are a necessary evile. The GOP should be all over this one, agreeing to let the cuts expire on the top 2% but demanding spending cuts in exchange. Once again they have proven that all they are concerned with is garnering as much power as possible and, in the process, apparently looking out for the top 2% and to hell with the rest of the nation....






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McChowder
LSU Fan
Hammond
Member since Dec 2006
2771 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


We tax the poor? Link?





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wickowick
LSU Fan
Head of Island
Member since Dec 2006
20056 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


quote:

Bull shite...taxing the rich is not class warfare anymore than taxing the poor is.


The past couple of years rich has turned into a dirty word...






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lsu13lsu
LSU Fan
Member since Jan 2008
1548 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


How will the poor people know that the evil rich were punished if they extend them?





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jamboybarry
LSU Fan
I Putt Out
Member since Feb 2011
9925 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


quote:

If we were talking about some sort of punitive increase in taxes, say a return to the days when the top marginal rate was 90% or so, then your argument would be more sound.


It's more of a fact that raising taxes on this group is being pushed as some sort of debt reduction plan. Similar to pissing into a volcano to cool it down.

quote:

The GOP should be all over this one, agreeing to let the cuts expire on the top 2% but demanding spending cuts in exchange.


Agreed, but history has shown the tax increases will be immediate where the spending cuts will be in the future and never adopted by the next congress.






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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
20372 posts

re: Why not just extend current tax rates to get us past the fiscal cliff?


quote:

The GOP should be all over this one
For political reasons I agree. But the fact is everyone knows this wont help the economy. So do you want republicans to give up just to avoid looking bad, or fight to have a bargaining chip to stop out of control spending?






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