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In reply to the discussion: We the people have already lost. [View all]ProSense
(116,464 posts)3. No, we really
In reality what needs to be done is this, raise the tax rates on all of us. The plain, simple fact is that we do need revenue, much more revenue than the rich can realistically be parted with at this point. So put us all back on the Clinton tax rates, after all, we seemed to do alright even when we were paying higher taxes.
Second, raise capital gains taxes on the rich and well off. Another tax that is at historic lows, and a way of insuring that those rich trust fun babies who don't work also pay their far share.
Second, raise capital gains taxes on the rich and well off. Another tax that is at historic lows, and a way of insuring that those rich trust fun babies who don't work also pay their far share.
... haven't lost. Let's look at Boehner's three choices:
1) Accept the President's proposal with "dividends to be taxed as ordinary income" and the "estate tax to be levied at 45 percent on inheritances over $3.5 million."
2) Pass the Senate bill, "which currently taxes inheritances over $5 million at 35 percent," but excludes Obama's dividend proposal.
3) Go over the cliff when "the estate tax is scheduled to rise to 55 percent beginning with inheritances exceeding $1 million."
In each case, the tax cuts for the rich end.
More: http://www.democraticunderground.com/10021948493
Another thing, while rates for the 99 percent remain in effect, the rates for the top one percent go up beyond simply ending the Bush tax cuts.
In particular, the Obama administrations call for higher revenue through increased taxes on high incomes which actually goes considerably beyond just letting the Bush tax cuts for the top end expire gets treated with an unmistakable sneer in much political discussion, as if it were a trivial thing, more about staking out a populist position than it is about getting real on red ink.
Krugman: What Defines A Serious Deficit Proposal?
http://www.democraticunderground.com/10021914963
In fact, the rates are 2 percent to 3 percent higher:
Under Clinton, the top 1 percent paid 33.4 percent; under Bush it paid 29.8 percent; and under Obama it would go back up to 35.3 percent, less than two points than under Clinton.
Meanwhile, under Clinton, the top 0.1 percent paid 36.9 percent; under Bush it paid 32.8 percent; and under Obama it would go back up to 39.7 percent. By contrast, every other group would be paying lower rates under Obamas proposals than under Clinton. (A table detailing these numbers is right here.)
Its true that the top 1 percent and the top 0.1 percent would be paying more. But the significance of those hikes shrivel dramatically when you consider how much better these folks have fared over time than everyone else has. The highest end hikes shrivel in the context of the towering size of their after-tax incomes and the degree to which they dwarf those of everyone else, something that has increased dramatically in recent years.
- more -
http://www.washingtonpost.com/blogs/plum-line/post/how-obamas-tax-hikes-will-really-impact-the-rich-in-three-easy-charts/2011/03/03/gIQAmbbLIL_blog.html
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See Lincoln the Movie. Compromise is how the USA was founded and has worked since
graham4anything
Dec 2012
#1
Please don't insult my intelligence by telling me to see a movie in order to learn anything,
MadHound
Dec 2012
#4
Well excuuuuuuuse me for daring to think that your post, a reply to mine, is actually meant for me
MadHound
Dec 2012
#11
He's been trying to shill this film for over a week. Just another "my team right or wrong"
Egalitarian Thug
Dec 2012
#90
The absolute 100% or don't agree is working real well for us- WHEN THE REPUBS DO IT!!!
graham4anything
Dec 2012
#96
the tea party is a great example of both absoulutism and anarchy as one
graham4anything
Dec 2012
#113
First of all, please don't make assumptions about what I am doing, OK, thanks.
MadHound
Dec 2012
#130
there are only two sides. Never a third shall be,unless the repubs leave the ballpark like the Whigs
graham4anything
Dec 2012
#157
Right. If not responding to the OP and not responding to anyone else in the thread,
Dark n Stormy Knight
Dec 2012
#158
I totally agree with you, Tavalon and keep wondering, "Has nobody explained this to Obama yet?"
We People
Dec 2012
#77
Compromise is how this country works according to you and a movie and I don't disagree.
Cleita
Dec 2012
#25
You attitude is a good example of why we are where we are today. We been settling for 10% until
rhett o rick
Dec 2012
#26
LBJ is the greatest and worked well to get all those social acts/civil rights/voting rights acts
graham4anything
Dec 2012
#120
JFK authorized Bobby to wiretap Dr. Martin Luther King. and renewed it.
graham4anything
Dec 2012
#128
And what does that have to do with LBJ escalating a war under false premises,
MadHound
Dec 2012
#131
Well, now that I've seen what a poor grasp you have of both history and reality,
MadHound
Dec 2012
#134
And that's what we want. We want the REPUBLICANS to compromise for a change. .
sabrina 1
Dec 2012
#106
no, actually, war is how the US was founded & maintained, the very opposite of compromise.
HiPointDem
Dec 2012
#156
"instead ... we get ... Trickle Down and Voodoo Reaganomics." What's worse, we are now in the
AnotherMcIntosh
Dec 2012
#62
We (Democrats) need to take an initial position that is so extreme that any movement
bluethruandthru
Dec 2012
#8
Nationalize some industries that are vital for our defense. Like the defense industry and oil. nm
rhett o rick
Dec 2012
#28
And what arguments are you bringing to the table? Real Democrats realize that shit stirring is good.
rhett o rick
Dec 2012
#33
It's easier than doing the work, babylonsister. Talk is cheap. Cynicism is cool.
freshwest
Dec 2012
#151
as for 'precedent' show me where this President has made cuts to the social safety net
bigtree
Dec 2012
#59
Didn't he appoint Alan Simpson and Erskine Bowles to a committee????????
socialist_n_TN
Dec 2012
#129
It's the American way since Trickie Dick and the false 'Gas Shortage '
orpupilofnature57
Dec 2012
#36
I had no illusion. The only thing I felt fairly certain about was the Supreme Court. Everything
still_one
Dec 2012
#54
She's better than the RW Federalist Society judges? Does she want to be? Or be the same?
AnotherMcIntosh
Dec 2012
#147
With the GLARING monster bill that we give the military, nothing else needs saying.
Gregorian
Dec 2012
#65
All that military stuff ends up in a landfill eventually, just like all the junk we buy from China.
Flatulo
Dec 2012
#114
Some eerie parallels between the immediate appearance of the "Fiscal Cliff" and the "Patriot Act"
We People
Dec 2012
#93
Excellent post. The good part of all this is that the people are no longer as naive
sabrina 1
Dec 2012
#116
With so many realistic and optimistic DUers your talents may be wasted here.
great white snark
Dec 2012
#83
The business world's cushy association with Reagan's presidency put a lot of people out of work.
pacalo
Dec 2012
#105
We can pressure Congress, they have a future to think of. And we should do so
sabrina 1
Dec 2012
#139
You are right. But I think we were still recovering from the Bush years and people
sabrina 1
Dec 2012
#148
Then people should have fought back harder against Ralph Nader & his lies.
graham4anything
Dec 2012
#141
Now some want to fight China. Instead of embrace new customers and citizens of the world
graham4anything
Dec 2012
#143
Agree completely, but make it the last *fifty* years that that lesson has been learned.
eomer
Dec 2012
#162
Obama on "entititlements" and deficit reduction 2009-2010; Conyers on Obama, 2011
merrily
Dec 2012
#166
+1 Whatever crumbs are ostentatiously handed to the 99 percent after this debacle,
woo me with science
Dec 2012
#171