Fiorina's COMPLETELY UNEXPECTED stance - Permanently Extend the Bush Tax Cuts For The Have Mores

[Amerigo Vespucci]

The Associated Press August 5, 2010, 10:48AM ET
AP Interview: Fiorina says to continue tax cuts

By KEVIN FREKING

http://www.businessweek.com/ap/financialnews/D9HDCUIG0.htm

All the tax cuts enacted during George W. Bush's presidency, even those for the wealthy, should be permanently extended, Republican U.S. Senate candidate Carly Fiorina of California said Wednesday.

The former Hewlett-Packard Co. chief executive stressed that raising any tax is the wrong approach as the economy struggles to emerge from recession. She told The Associated Press that higher taxes on the wealthy would lead them to invest less in their businesses, hurting the overall economy.

"There's an uncertainty that's hanging over our job creators and causing them to say, 'I'm not sure. I can't invest in the future and hire more people. I don't know how much my tax bill is going to be in three months,'" Fiorina said in a telephone interview.

Democratic leaders say the Senate will take up the Bush-era tax cuts in September. Details are not finalized, but President Barack Obama has recommended letting the cuts expire at the end of December for couples making more than $250,000 a year and individuals making more than $200,000.

Fiorina's opponent, Democratic Sen. Barbara Boxer, said she supports extending the tax cuts for the vast majority of taxpayers, but not for all.

"I want to make sure huge corporations, millionaires and bankers who earn big bonuses on Wall Street pay their fair share," Boxer said.

Democratic leaders have said scrapping some of the tax cuts is necessary to begin reducing the federal budget deficit. But Fiorina said those efforts should be focused solely on cutting government spending. She would begin by stopping any further spending associated with the economic stimulus legislation passed in 2009.

"We don't have a revenue problem in Washington, D.C. We have a spending problem," Fiorina said.

If Congress goes along with the president's recommendation, about 3.4 percent of households would be hit with higher income taxes, according to the Tax Policy Center, a nonpartisan organization in Washington, D.C., that analyzes tax policy. That translates to about 5.4 million households.

The Internal Revenue Service estimates that about 700,000 households in California reported income of $200,000 or more in 2007, which provides a rough upper estimate of how many Californians could be hit with a tax increase under the president's recommendation.

Obama has proposed raising the top tax rate in 2011 from 35 percent to 39.6 percent. Some in the 33 percent bracket would move to 36 percent. Among other changes, the tax rate on capital gains and dividends for high-income earners would increase to 20 percent.

Fiorina said she would oppose any increase in the capital gains tax. She also favors permanently repealing the estate tax. She acknowledged that some wealthier Americans can afford higher taxes but said people should not compare those making $250,000 or so to billionaires.

Regardless, she said she trusted the wealthy to put money to better use than the government would.

"I'd rather have a wealthy individual investing their money in innovation in this country than giving it to the federal government to waste," Fiorina said.

Fiorina's financial disclosure report filed with the Senate shows she has assets valued at between $25.6 million and $115.9 million. Boxer's financial disclosure report showed she and her husband maintain a blind trust valued at between $1 million and $5 million.

[CaliforniaPeggy]

1. Oh yeah...

Completely unexpected, right!

:eyes:

These idiots keep spouting the same old right-wing nonsense and expect us to believe it!

:mad:

[rurallib]

2. I hate to see the federal government wastre money too, Carly

highways
bridges
dams
buildings
regulations to stop the next crash
hospitals
schools
water systems

I could go on.
But as you can see, not one good fucking thing in the lot.

[beyurslf]

3. I don't know about you, but I am still waiting for my piece of the Trickle-Down...

[Bitwit1234]

4. I think republicans have not clue what so ever as to the duties

of a senator. Guess they think they rank one above the President.

[Ramulux]

5. I think this is interesting

"There's an uncertainty that's hanging over our job creators and causing them to say, 'I'm not sure. I can't invest in the future and hire more people. I don't know how much my tax bill is going to be in three months,'" Fiorina said in a telephone interview.


I think this quote says so much about the mindset of the average republican. If you break this statement down to what its really saying its sounds more like this.

"Private businesses are holding this countries economy hostage and they will not start hiring again until you(the federal government) give them everything they want including massive tax cuts and deregulation."

I love how they set up this narrative that they are pro-business and want to help private corporations while at the same time admitting that they have a stranglehold on our economy.

[LLStarks]

6. Cut wasteful spending and let the taxcuts expire. We can't dent the deficit unless we do both.