The Bush tax cuts vs. the Obama tax cuts

[Joe Republic]

[Beet]

Is it too attention-whory to admit that I wish I had Ezra Klein's job?

[Badger]

Wow! Really puts it in perspective.

Keeping in mind that deficits are just a tax increase on the future, this begs the obvious question:

Unless one earns at least $500k/year, why would anyone support the Republican plan?

[cannonia]

Go go class envy!

[opebo]

Go go class envy!

When someone is killing you, it is not unreasonable to take notice.

By the way, I hope everyone sees the main point of the chart is that both sets of tax cuts are negative economically.  What we need are not tax cuts but transfer payments to people who have too little privilege to 'pay taxes'.

[Oakvale]

Go go class envy!

The American Dream myth really has ruined a lot of minds.

"Don't tax the wealthy, I'll be a millionare some day!"

[Swing low, sweet chariot. Comin' for to carry me home.]

Go go class envy!

The American Dream myth really has ruined a lot of minds.

"Don't tax the wealthy, I'll be a millionare some day!"

more like, "Don't tax the wealthy, they already pay more than their fair share of the tax burden, and, most importantly, they're the only ones who can afford to invest in things that create jobs."

[opebo]

more like, "Don't tax the wealthy, they already pay more than their fair share of the tax burden, and, most importantly, they're the only ones who can afford to invest in things that create jobs."

There is no shortage of investable capital, jmfcst, only of the demand to make such investments feasible.  (and by the way, please don't mention 'fair' in the context of a vampiric class which already sucks the lion's share from its victims).

[You kip if you want to...]

Wow! Really puts it in perspective.

Keeping in mind that deficits are just a tax increase on the future, this begs the obvious question:

Unless one earns at least $500k/year, why would anyone support the Republican plan?

Because Fox News says it's the better plan and Obama's plan is clearly socialism. Fox News also says that socialism is the worst thing since Hitler, so it must be bad. Fairer taxes are just, simply, un-American! How could anyone other than a welfare scrounger or a minority vote Democrat?

[TeePee4Prez]

Go go class envy!

The American Dream myth really has ruined a lot of minds.

"Don't tax the wealthy, I'll be a millionare some day!"

more like, "Don't tax the wealthy, they already pay more than their fair share of the tax burden, and, most importantly, they're the only ones who can afford to invest in things that create jobs."

And those tax cuts just magically trickle down to us peons!  Right dude!  Companies are whording cash right now and ain't hiring crap.  I'm even looking to be in favor of a tax similar to Florida's old personal property tax were companies that have a large amount in cash and cash-like securities would have such a tax and would get an offseting credit if they create jobs.

[Sbane]

Go go class envy!

The American Dream myth really has ruined a lot of minds.

"Don't tax the wealthy, I'll be a millionare some day!"

more like, "Don't tax the wealthy, they already pay more than their fair share of the tax burden, and, most importantly, they're the only ones who can afford to invest in things that create jobs."

And those tax cuts just magically trickle down to us peons!  Right dude!  Companies are whording cash right now and ain't hiring crap.  I'm even looking to be in favor of a tax similar to Florida's old personal property tax were companies that have a large amount in cash and cash-like securities would have such a tax and would get an offseting credit if they create jobs.

The real problem is that there is not enough demand out there. You can give companies tax incentives, but if there is no demand for whatever they are producing with their investment, they won't do it.

[TeePee4Prez]

Go go class envy!

The American Dream myth really has ruined a lot of minds.

"Don't tax the wealthy, I'll be a millionare some day!"

more like, "Don't tax the wealthy, they already pay more than their fair share of the tax burden, and, most importantly, they're the only ones who can afford to invest in things that create jobs."

And those tax cuts just magically trickle down to us peons!  Right dude!  Companies are whording cash right now and ain't hiring crap.  I'm even looking to be in favor of a tax similar to Florida's old personal property tax were companies that have a large amount in cash and cash-like securities would have such a tax and would get an offseting credit if they create jobs.

The real problem is that there is not enough demand out there. You can give companies tax incentives, but if there is no demand for whatever they are producing with their investment, they won't do it.

Problem now is there's demand, but "pent up" demand.  In other words, it's there, but external factors are keeping our economy from full potential because companies are whording cash for God knows what or their own greedy asses. Call it "socialism" or "redistribtuionist", but there are some policies that have to be made that Obama and the Democrats are afraid to do.

[Sbane]

Go go class envy!

The American Dream myth really has ruined a lot of minds.

"Don't tax the wealthy, I'll be a millionare some day!"

more like, "Don't tax the wealthy, they already pay more than their fair share of the tax burden, and, most importantly, they're the only ones who can afford to invest in things that create jobs."

And those tax cuts just magically trickle down to us peons!  Right dude!  Companies are whording cash right now and ain't hiring crap.  I'm even looking to be in favor of a tax similar to Florida's old personal property tax were companies that have a large amount in cash and cash-like securities would have such a tax and would get an offseting credit if they create jobs.

The real problem is that there is not enough demand out there. You can give companies tax incentives, but if there is no demand for whatever they are producing with their investment, they won't do it.

Problem now is there's demand, but "pent up" demand.  In other words, it's there, but external factors are keeping our economy from full potential because companies are whording cash for God knows what or their own greedy asses. Call it "socialism" or "redistribtuionist", but there are some policies that have to be made that Obama and the Democrats are afraid to do.

Pent up demand by companies? I guess you mean in terms of not buying enough from their suppliers? They are not investing more, or running their plants at full capacity because they don't think they can sell what they are producing.

[opebo]

Problem now is there's demand, but "pent up" demand.  In other words, it's there, but external factors are keeping our economy from full potential because companies are whording cash for God knows what or their own greedy asses. Call it "socialism" or "redistribtuionist", but there are some policies that have to be made that Obama and the Democrats are afraid to do.

Well, 'demand' isn't just wishing or wanting - it is having the means (the power) to 'pay for' production.  This power is only provided by one institution - the State, at the point of the gun.

[Vepres]

LOL, so much bitterness

[Sbane]

LOL, so much bitterness

And we are also clinging to our guns and our aqua buddha so you best watch your back.

[Fuzzybigfoot]

Has anyone noticed that the US has had really bad recessions under every type of administration, despite tax policy? 

[Fmr President & Senator Polnut]

Go go class envy!

The American Dream myth really has ruined a lot of minds.

"Don't tax the wealthy, I'll be a millionare some day!"

That's what I think too.

Why all of these people in less economically advanced parts of the US vote Republican - which is against their economic interests... I'm not saying the Democrats are either... but investing all your faith in trickle-down economics is a risky business. They don't want to tax the rich because they want to be rich too...

[memphis]

Go go class envy!

The American Dream myth really has ruined a lot of minds.

"Don't tax the wealthy, I'll be a millionare some day!"

That's what I think too.

Why all of these people in less economically advanced parts of the US vote Republican - which is against their economic interests... I'm not saying the Democrats are either... but investing all your faith in trickle-down economics is a risky business. They don't want to tax the rich because they want to be rich too...

I don't think it's that many people think they'll be rich one day. Maybe, younger people who haven't had as much experience in the world. It's more that people believe that the rich are entitled to enjoy their fortunes unencumbered. I would disagree, but I'm hardly a centrist.