Boehner and Pence can't say how tax cuts will be paid for

[babylonsister]

Run time: 06:27 https://www.youtube.com/watch?v=6tnrkbDjJ4Q   Posted on YouTube: August 08, 2010 By YouTube Member: ThinkProgress2 Views on YouTube: 871   Posted on DU: August 09, 2010 By DU Member: babylonsister Views on DU: 1201

 
http://thinkprogress.org/2010/08/08/pence-boehner-tax-cuts/


Deficit Frauds Boehner And Pence Can’t Answer How Tax Cuts For Wealthy Will Be Paid For

Today on NBC’s Meet the Press, House Republican leaders John Boehner (R-OH) and Mike Pence (R-IN) had a tough time answering host David Gregory’s questions about how they would pay for extending the Bush tax cuts for the wealthy.

Gregory asked Boehner to respond to former Fed Chairman Alan Greenspan, who said last week that extending the tax cuts without offsets would be “disastrous” and that they do not pay for themselves. “The only way we’re going to get our economy going again…is to get the economy moving,” was all Boehner could muster in response. Gregory repeatedly pushed Boehner to answer how they would paid for, but the Minority Leader simply wouldn’t respond:

snip//

The reality is that extending the Bush tax cuts for the wealthy will cost $830 billion over the next ten years and the Republicans — who have made bringing down the deficit one of their signature issues — have no idea how they will pay for them.

[Ultraviolet Cat]

1. Why is no one asking the obvious questions . . .

If tax cuts for the wealthy are so good at revving up the economy, why did the entire economic system go down the toilet after they were passed? Why haven't we seen an economic miracle as a result of them being passed?

I hate ideology over rationality, and this is right wing ideology at its worst -- tax cuts are always the best solution to whatever is currently happening. The economy is good -- we should cut taxes to give people back their money. The economy is bad -- we should cut taxes to improve it. The economy is 'meh -- we should cut taxes just 'cuz, I mean . . . c'mon! I truly believe that if we found out tomorrow that Martians were invading the Earth, the first move Republicans would make would be to introduce more tax cuts (called the "Welcome to our Martian Overlords Economic Stimulus Initiative").

[rasputin1952]

3. Welcome to DU!

:hi:

The wealthy that received the tax cuts did/are doing investing their new found cash in various markets, none of which will add anything to the economy. These are not working class people, they are the privileged, the one's who think everything should be given to them because they have wealth, (most of the people inherited the wealth they have).

There is approximately a trillion dollars out there, but rather than invest in the human equation, much of this cash is idle, they are sitting on it...waiting to see where they economy will go, w/o the help that cash could provide.

[JoshieR]

7. They're buying gold...

...because Glenn Beck told them to :D

[rasputin1952]

8. After they kill off the farmers, grocers etc...

I wonder how that gold will taste, when that's all they have to live on. Don't want those "never-knew-work dainty hands" dirty...:D

[AlbertCat]

13. the one's who think everything should be given to them because they have wealth, (most of the people

the one's who think everything should be given to them because they have wealth, (most of the people inherited the wealth they have).


I inherited mine and I don't think everything should be given to me because of my wealth. In fact, it seems the other way around. Now that I have some money, everybody seems to think THEY should be given everything... especially my inheritance.

But I paid all my taxes, including the 1/3 that went to the so called "death tax". It sure was a big check, but that's OK because I want to pay my taxes. I wish big corporations would pay theirs. If you're too big to fail, then your big enough to pay your fair share of taxes. And Churches and Mosques and Temples and Scientology.... plus all the businesses these religious organizations own. If they paid their taxes, then we all could get a personal tax break.

As far as the Bush tax cuts go.... They were meant to expire in 10 years and so they should. It's the law. Rich people should have known that and prepared or it. Those tax cuts as a stimulative incentive, obviously don't work because they're a huge reason we are in the mess we are in. Dems should let all the Bush tax cut lapse. Even the middle class ones....BUT be ready with even better middle class tax cuts and relief and vote on those. Now the Repugs are in the position of either voting for tax cuts, their favorite thing, or saying NO as usual. And any down time between the lapse and the new Democratic Middle Class Tax Cuts (which are better, remember) will purely and obviously be the GOP's fault. Then when the new and improved middle class tax cuts are finally made law....it will be a Dem victory they can proudly claim.

[rasputin1952]

15. If, for some abstract reason I inherited a large...

sum of money, I would do what I've always thought people w/cash should do right away, keep a tax atty on retainer, and get a CPA w/a good reputation. With those two assets, there is a very good element of protection.

I had an excellent job in the aerospace industry years ago, I made enough money to actually do some good w/it. These days, just scraping enough together to pay basic bills is tough. Being a student at my age is not all that easy either, but I wanted to do something while the economy is in the tank, boosting my education/knowledge base has done wonders for how I view things.

I am also an advocate of doing random acts of kindness...they cost little to nothing, and can make a person's day so much better.

[JoshieR]

6. I completely agree....

I hate the saying "It's all about jobs" that keeps coming out of the right. OBVIOUSLY it's about job creation, but these Bush tax cuts are in effect right now, are they not? They haven't expired yet, so where are the jobs? THe wealthy currently have a huge tax break and we're still losing jobs.

[BeliQueen]

9. My sentiments exactly

I keep screaming this exact question at the TV screen every time this debate comes up.

[Enthusiast]

10. +1!

Exactly correct. If the tax cuts were so good one would think they would have created at least some jobs, considering there were two wars going on.

[demi moore]

2. LOL

"the only way we are going to get our economy going again, and solve our budget problems ah.. is to get the economy moving"

[babylonsister]

4. demi, you moved!

Welcome to DU!

[KansDem]

5. ASK THE OBVIOUS QUESTION!!!

If tax cuts for the wealthy creates job-growth, THEN WHY DIDN'T IT HAPPEN WITH BUSH'S TAX CUTS???



http://blog.prospect.org/blog/ezraklein/charts/

[no limit]

11. Pence: NO! I will not acknowledge reality.

[JDPriestly]

12. In your dreams you can cut long-term entitlements.

I've pointed this out a million times, and I will point it out again, unless you just want to kill all the old people, you -- younger taxpayers, wealthy, all who have money, will have to provide for your parents, grandparents, for the elderly who do not have enough to live on.

Social Security and Medicare are the least burdensome ways to take care of the elderly, to make sure they don't freeze or starve or go without needed medical care. There is no cheaper way to do it. And don't think you can trust Wall Street to provide for the poor, the old, the hungry. Wall Street is not into charity -- not to the extent that is needed.

New International Version (©1984)
"Honor your father and your mother, so that you may live long in the land the LORD your God is giving you.

http://bible.cc/exodus/20-12.htm

It's ancient truth still true today.

[AlbertCat]

14. It's ancient truth still true today.

Ancient baloney that is still baloney today.

What if your Father and/or Mother are not worthy of honor?

[JDPriestly]

16. The commandment is not necessarily specific to your own parents.

It is a general rule for societies in general: if you treat your parents, your elders well, then you will have a harmonious society.