WASHINGTON (AP) — House Republican leader John Boehner says he would vote to extend middle-class tax cuts if that’s his only choice.
President Barack Obama has said he wants to extend expiring Bush-era tax breaks only for those earning under $250,000 a year. That would cover more than 97 percent of taxpayers.
Boehner and other Republicans are pushing for an extension of the tax cuts for all taxpayers, even the wealthiest.
Obama’s new chief economic adviser, Austan Goolsbee, says he‘d be happy to hear that Boehner isn’t willing to hold hostage the middle class for tax cuts for the highest earners.
Boehner appeared on “Face the Nation” on CBS while Goolsbee spoke on ABC’s “This Week.”
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Comments (217)
13thGenerationAmerican
Posted on September 12, 2010 at 12:17pmWell the top 3 percent have had these tax cuts for 10 years and how many jobs have we lost again? You people are clueless.
Report Post »Eagle07
Posted on September 12, 2010 at 2:49pmSure they were responsible for the dimocrats screwing up the housing market and causing all this mess right?
Report Post »K.G.
Posted on September 12, 2010 at 10:26pm13thGenerationIdiot: What caused the job losses? The crash of the housing market. What caused crash of the housing market? Sub-prime NINJA loans. Who caused that? Progressives, ACORN (and their attorney Barack Obama) and the Congressional Black Caucus along Frank and Dodd making certain that if Bush persisted in his concern over Fannie and Freddie he would be labeled a racist.
You could blame the big financial institutions for taking greedy advantage of the opportunity that the government dropped in their laps, but do not equate any of this w/SMALL business. You know, those people who actually provide non-government jobs and provide health care out of their own pockets.
$250,000 a year is not much when you’re sub-chapter S corp. Tax hikes on small business right now will deal another blow to the Golden Goose. What in the heck is wrong w/you?
Report Post »RayGone
Posted on September 12, 2010 at 12:14pmI have to say this theblaze.com is lot better than that FOXNation….
Looks like Glen Beck impressed Koch Brothers with his Anti-american Philosophy so much, they agreed
to throw in few $$$s more to hire some good Web Developers….
Neat….
Report Post »becklies
Posted on September 12, 2010 at 12:46pmNot really, I don’t think this is a high-budget operation. These comments are annoying to use at best and the format doesn’t really foster discussion. It’s an Out-of-the-box WordPress site that got thrown up quickly. I’m guessing this is just and experiment by Beck trying to expand his media presence. If it works out well for him, you will probably see more. If not this will end up dying on the vine.
Report Post »van
Posted on September 12, 2010 at 7:09pmAs a developer I hope when Beck does redesign he doesn’t hire a bunch of indians or easter euorpeans at dirt prices to do it for him. I refuse to even try to work for what they charge.
Report Post »chuchu12
Posted on September 12, 2010 at 12:12pmIf this simple plan was enacted our economy would turn around on a dime and begin to recover.
If congress and the president were to have a window period of 0% capital gains tax on any real estate purchased it would get the investors to let loose of some of the trillions of dollars they are sitting on and buy property which will create jobs.
* This should only be allowed for properties bought from the day it is passed moving forward for a window period of 3 months or 6 months or whatever. We should then analyze it and adjust the window as necessary. It should not be used for properties already owned because that would flood the market, we want people to want to buy instead of sell to create demand again so that prices will stabilize and consumers will begin to have confidence in their homes and begin to spend again to support the economy and create jobs.
* This should qualify for any buyer of any property whether it be an investment, owner occupied or commercial. The goal is to get the big investors with all their cash on the sidelines to start buying to stimulate the recovery and also to make it widespread so to have a quick effect. This will bring quick money into the treasury by quickly creating jobs and consumer confidence.
* The new property purchased should have no restrictions on when you sell it, if sold in 1 day, 1 year 10 years or 100 years it should be exempt from capital gains tax. This will be the quickest way to incentivize buyers, remember this is just a window period and we can adjust the window anytime either to avoid over heating or lack of desired results.
The largest commodity held by Americans is real estate and over the last 3 years as their home values dropped they lost confidence in their future. If home prices stabilize and slowly begin to increase again people will start regaining confidence, they will also hire builders, painters, landscapers, plumbers, Realtors, loan and mortgage officers etc. They will also spend on vacations, restaurants, new cars, etc. In my opinion, one mistake the current administration did was the cash for clunkers, why in the world would we incentivise people to put a monkey on their back in the form of a higher payment to purchase a depreciating asset when we could incentivise them to purchase property that typically can go up in value and then they would buy the car on their own along with other goods and services?
Another great reason to put the 0% window on the cap gains is because for all practical purposes there is no cap gains tax being collected now anyway because nobody is selling at a profit so there is little to lose and much to gain.
Also by doing this foreclosures will cease quickly and banks will begin lending again. Banks will realize that values have stabilized and not be so fearful of lending.
Sure, this will probably help the professional investor but most importantly it will create jobs for the guy who has to put food on the table for his children. We need to get the big money that the investors have buried back into the system and real estate is the best way because it will create a snowball effect of jobs.
Report Post »RayGone
Posted on September 12, 2010 at 12:08pmBOEHNER CLAIMS TAX CUTS FOR TOP 2% WILL CURE CANCER
save marriages and end wars..
LOL
The Repubs have pushed tax cuts 24/7 for months. They are not ashamed in the least they only care about people who make $250k or better.
The idiot Tea Potty parrots on this board making $22,500 are rooting hard for their party.
Report Post »broker0101
Posted on September 12, 2010 at 12:19pmCrawl back to the Daily Kos, troll-boy.
Report Post »brinksmom
Posted on September 12, 2010 at 12:08pmWho invests and provided jobs and opportunity for others? The rich or the poor? WE ARE DONE WITH RINOS John and soft bellied “reaching across the aisle” Republicans too. What part of that is so hard to understand?
Report Post »dumbugga
Posted on September 12, 2010 at 12:06pmThis is why I no longer give money to the Republican Party or the NRA. I only give to candidates whom I know are real conservatives!
Report Post »Michael
Posted on September 12, 2010 at 12:05pmAll animals are equal, but some animals are more equal than others in today’s identify, isolate, freeze and escalate socialist governmental climate. Many are unable to think for themselves and will believe anything that they think will benefit them regardless of the consequences. How do you explain the stars to a frog at the bottom of a well?
Report Post »V-Forge
Posted on September 12, 2010 at 12:04pmTalk about a wet finger in the wind. We don’t need tax cuts we need sensible taxes. Hope your all ready to pay the new carbon surcharge for all that carbon you exhaled last year. Yes. we can trust them about who should pay what in taxes. We need to force a reform of the tax system. Thes best way to do that is elect a conservative every time.
Report Post »Mike777
Posted on September 12, 2010 at 12:20pmI like they idea of a flat tax or eliminate income tax and go for a consumption tax. That why everybody pays something.
Report Post »Doctor_Harvey
Posted on September 12, 2010 at 2:44pmI am VERY much in favor of a “Flat Tax.” And I’m quite surprised it has never received more traction. A Flat Tax is a BRILLIANT idea! Yet, I have seen virtually no attention being paid to this concept. And you want to know why? I suspect two reasons: It would put most accountants out of business, and secondly we could fire thousands of IRS workers.
But in truth a Flat Tax makes HUGE sense. WHY is no one promoting this concept?
Report Post »natstew
Posted on September 12, 2010 at 11:59amBoehner is just another RINO, too bad he’s not on the ballot in November.
Report Post »CruzerDog
Posted on September 12, 2010 at 11:56amI am in the upper tax bracket. OK, the middle class gets the tax cuts…. If we at the top don’t create jobs, then what difference is it going to make come January that the middle class has now and will have in January?
Oh, Obama, there is no work out there so my salary has dropped ten fold. I wont pay any tax next year because I don’t have any income. All my money is in the bank already been taxed sitting here on my big yacht. We are waiting until 2012 to get some sanity back in the Congress and White House. These guys are rocket scientists
Report Post »mdraymo
Posted on September 12, 2010 at 11:55amSame song, different verse. That’s all they do is comromise, which is why it is still politics as usual.
Report Post »zoo9guy
Posted on September 12, 2010 at 11:55amBoehner is as fake as his tan, this is just another example of why they ALL need to be voted out. To them it’s all a game, we need leaders that want the best for our country. Remember in November! Clean house, my children could do a better job then both sides of the aisle that’s in there now!
Report Post »pepperanne
Posted on September 12, 2010 at 11:55amGuys he didnt say he not for the tax cuts accross the board. He still wants the tax cuts. The dems are going to give in to all so he said he wouldnt let that hold up the cuts that the president will allow. When the gop regains the house you will see those tax cuts put back in place. The real thing we should be looking at is not allowing the 50 billion. NO MORE SPENDING
Report Post »dressseller
Posted on September 12, 2010 at 12:03pmThis is what I’m thinking/hoping.
Report Post »Tatum
Posted on September 12, 2010 at 11:51amJohn, If you don‘t give the richest people it will only slow down the recovery if there’s every going to be another one. Stop going for vote. Can you please do what is best for the Country and just Democrats or RFepublicans. We all now they’re many more middle class.
Report Post »papad
Posted on September 12, 2010 at 11:47amI can’t believe he said this! No wander people feel there is not much difference in either party! We need to vote out all the incumbents and get term limits for both houses just as congress passed term limits for the presidents office. Unbelievable!
Report Post »Independent Tess
Posted on September 12, 2010 at 11:45amBottom 40% of that “under $250k” pay no taxes at all, anyway. Top 5% of income pay 70% of taxes (approximate: wrote stats down, but can’t find them at the moment).
Report Post »Guess unemployment will stay up since those making money are the ones who hire. Profits go down and someone has to be let go.
aesaac
Posted on September 12, 2010 at 12:17pmbut the top 5% do not comprise 70% of the vote
Report Post »Independent Tess
Posted on September 12, 2010 at 12:27pmSo true!
Report Post »becklies
Posted on September 12, 2010 at 12:41pmI thnk you’re mixing up corporate taxes with income taxes, Tess.
Report Post »chattycathy
Posted on September 12, 2010 at 12:46pmSad but true. It is time that we stop giving tax ‘cuts’ to those who do not pay taxes. That is nothing more than social engineering and redistribution of wealth via the tax code. Yes, it’s also one of the many vote buying techniques.
It’s also time that, in the event of a Republican takeover of the House, new leadership be installed rather than Boehner. The right needs new blood at the helm if any of us are to believe that they are going to return to conservative roots.
Report Post »TAXLORDCOMETH
Posted on September 12, 2010 at 1:12pmAnd how much did this tax cut put into a middle class taxpayer’s pocket? Mine was like $ 300. I had trouble figuring out how to spend it all. So, Obama gives us back a dollar in his right hand, then he takes it right back out of my left by jacking up my insurance rates.
Report Post »Independent Tess
Posted on September 12, 2010 at 2:33pmI will see if I can find my notes, Becklies, just to be sure.
Report Post »Mike777
Posted on September 12, 2010 at 11:45amI don’t like it either but if they voted no. That evils Dems. would some ammunition which atm they nothing for fall elections. And remember we still have the lame stream media on there side.
Report Post »Mike777
Posted on September 12, 2010 at 11:49am*have*
Report Post »dumbugga
Posted on September 12, 2010 at 12:16pmtheir
Report Post »RobR
Posted on September 12, 2010 at 11:44amGreat move on Boehner’s part. In chess that’s called check & mate. Enough other Republicans as well as many moderate Democrats will oppose the “ Obama Socialist Regime ” on this issue that the new majority leader compromising, for the overall good of the American people, shows leadership not found in the current majority. It will be so very nice to have adults running this country starting in January. Obama has proved to be nothing more than a science experiment gone very wrong.
Report Post »broker0101
Posted on September 12, 2010 at 11:56amYou are flat-out wrong. Caving on the issues and calling it victory in the name of the “overall good” is exactly how we got into this mess. We need Lead-Pipe-Hitting-Conservative lawmakers who will fight to the death, not squishy RINOs.
Report Post »yo1good1
Posted on September 12, 2010 at 4:56pmAs we continue to argue whether the D‘s or R’s are right on these issues perhaps the better way to solve these things and really give our Country a chance to compete in the world today is to deal with our Finance and Monetary systems. If Pres. Wilson wouldn‘t have allowed the Federal Reserve to be formed and Fractured Banking to become the accepted way of Finance we wouldn’t be in this pickle, but that is assuming we setup a responsible System that didn’t create a Debt based economy and promote Big Government with easy access for Congress to get Phony Money and put us on the hook, it would stop Progressivism in it’s tracks and rid us of a horrible parasite, “The Federal Reserve”.
It’s like a lot of things that are wrong, follow the the money and you will find the culprit, in this case money is the culprit.and like HENRYKNOX says this is a marathon not a sprint but we do need to concentrate on things that will make the most difference to WE THE PEOPLE.
Report Post »van
Posted on September 12, 2010 at 7:01pmbroker101 is exactly right, never compromise your conservative principles.
Report Post »krjones
Posted on September 12, 2010 at 11:44amwhen we win the house, we need to not have John as the speaker!
Report Post »tdftruckin
Posted on September 12, 2010 at 11:43amHere we go, the GOP establishment is caving already… We need an article 5 convention… no matter who we send to Washington will not fix things from the inside.
Report Post »Skwerl
Posted on September 12, 2010 at 12:45pmAspinal progressivitis is a virulent stain of Wussism, found primarily in a small 61.4 square mile area between Maryland and Virginia. It is difficult to diagnose, sometimes taking years for symptoms to present themselves. The disease is recognized by a marked ability to bend over backwards with mild cajoling, double talk, reaching over aisles, ethical blindness, deaf to logic, rampant spending and spin doctoring. If left untreated the disease can worsen to its final and most dangerous stage: Liberal Progressivitis, also known as Moonbat Hysteria known to flourish in schools and universities around the world.
Report Post »At present there is no known cure. Current treatment & vaccination consists of quarantine and the aggressive application of principles and values outlined in the 1787 document known as “The US Constitution.”
PostProgressiveAmerican
Posted on September 12, 2010 at 1:02pmVote for the person, note the party. If you don’t like what the person stands for, don’t vote for him. If you don’t like how he votes, vote him out!
Report Post »GOTT-EM-MAUSER
Posted on September 12, 2010 at 5:29pmAnd we have a WINNER!!
As I sit and read all that is posted here, I have to wonder if ANY of them were alive and lucid in 1994. We all turned out and voted for all these fresh new faced Republican Conservatives, that would slay the Demo-Communist Clintonista Dragon and restore our Republic. Guess what, it didn’t happen. The Republi-Socialists lined right up at the trough with their Demo-Communist pals. They REPEALED NOTHING that they promised to, and went hog wild spending money we didn’t have. Got their ears lowered next time around, and learned nothing from it. And then there was George Bush the most liberal Demo-Communist ever elected under the Republi-Socialist flag and here we are with the Imam Obama, our very own Affirmative Action, Halfrican, Communist Moron and his cabal of Moonbat Progressive Communists.
WE will NEVER cure this from the inside, playing this rigged game run by the BIG GOVERNMENT PARTY. This country is headed down the tubes, matter not which WING of the COMMUNIST PARTY you vote for. Thankfully, the economy is now so far beyond help, it will continue to its ultimate collapse, whomever is supposedly in charge.
What the “*****” does ain’t going to make a particle of difference.
Report Post »Jeweltoo
Posted on September 12, 2010 at 11:38amThat is the problem with these Republican leaders in charge: They have no spine. Anyway, perhaps there is a method to his madness.
Report Post »Awakened One
Posted on September 12, 2010 at 11:46amMaybe he‘s doing it to insure there’s no market bump before the elections. Don’t know how he would fix it afterwards. Until Obama’s gone the best we can hope for is to stop his marxist agenda. We need the house or senate to stop funding. But we also need better Republicans. We had most of these guys during Bush and they still sold us out.
Report Post »dressseller
Posted on September 12, 2010 at 11:47amI am hoping you are right.. ..Perhaps when Republicans take back the House & Senate… they will take measures….step by step to undo all the damage this administration has done. A little now.. a little later. ….I sincerely hope that Republicans have learned their lesson of not doing the progressive lite sort of leadership.
Report Post »becklies
Posted on September 12, 2010 at 12:35pm@Awakened one
Report Post »Wow, so you’re defending him by saying “maybe he’s attempting to trash the economy in order to get our team elected?“ Nice ”Patriotic” values there — do anything so that your team wins.
Thirteenth Paladin
Posted on September 12, 2010 at 1:29pm@Becklies – Obama himself is the best campaigner the Republicans have. Incompetence always helps the competition.
Report Post »Stuck_in_CA
Posted on September 12, 2010 at 11:37amWe cannot expect many changes in how our government operates, until we change the people who run it. Johnny has to go. Leaders like Pence, Bachmann, and McClintock are the ‘new bloods’ we need in charge.
Report Post »Joseph
Posted on September 12, 2010 at 1:33pmI agree, we need to also retire one’s like Loise Capps, and Pelosi. At one time we had one of the best states in the union, and our schools here were considered the top 3 in the world. The High School I went to was one of the top 5 in the state, and top 50 in the country. I 4 years they lost their accredidation and was considered below that of LAUSD because of the new thought police in the school district.Pelosi was one of these inovators in this new thought way back when and helped when she was Finance Chair of the Democratic Senatorial Campaign Committee. Yeah, she pollvalted then and crashed the gates.
I‘m thinking of immigrating out of Cali because I’m not into belonging to the Peoples Republic anymore. Or I’m thinking of the central valley and have a truck with a gun rack. Now we face the possibillity of a vast migration that may add 30% to the population due the the legalization of Marijuana. Every pothead in the country will come here for the Cali pothead lifestyle. Be warned folks if you legalise it your next. And after 6 months our welfare in this state will rise due to the influx..
Report Post »Awakened One
Posted on September 12, 2010 at 11:35amBig mistake. These are the people that create jobs.
Report Post »becklies
Posted on September 12, 2010 at 12:38pmRight.. they’re not going to use it to line thier bank accounts, sure. The “tax cuts for the rich creates jobs” myth was debunked a looong time ago. how do you feel about Obama’s plan of tax cuts for R & D which _directly_ creates jobs?
Report Post »joiseycop
Posted on September 12, 2010 at 4:26pmHey Becklies… so if Joe the Plumber who employes 15 guys doesn’t invest in R&D he doesn’t get the tax break right?? So I guess all those small business in the trades like ol’Joe better just get used to their tax increases, their medical plan increases, etc. and then chose… double the cost to the consumer and then go out of business, or just lay off 5 hard working guys.
Report Post »TheRightBistro
Posted on September 12, 2010 at 11:04pmBecklies
I would like to know which R & D firm in the Industrial revolution needed tax credits. If you just get government out of the way and let the creative mind work, we will start creating things that people need. Why do we purchase things from china and else where, because the taxes, regulations and unions in this country are killing us. Unions were good back in the early 1900′s when there were problems with long hours for low wages, etc. but that is not the case anymore except for the illegal immigrants (modern day slaves). All immigrants need to come through the front door and the company’s that are hiring them need to be fined and fined excessively, so they won’t do it again.
Why don’t you start reading about the Austrian Economics? You can get this information from the Ludwig von Mises Institute (www.mises.org) or guys like Thomas Woods
Report Post »Ohiowoman
Posted on September 13, 2010 at 11:50amBecklies……are you aware that there is a portion in that R & D tax cut that requires the company to process the paperwork for it through a consultant at a cost of approximately $11,000?
Report Post »carol m
Posted on September 12, 2010 at 11:35amWell maybe after november that will not be Boehner’s only choice. OMG did i actually get to comment before dangbang.
Report Post »dressseller
Posted on September 12, 2010 at 11:48amSSHhhhhh… …..Maybe if we’re very very quiet…
Report Post »Dandylyon
Posted on September 12, 2010 at 12:11pmBy noticeing these shills like this is what brings them out,ignor this clown,put him/her on IGNORE and they will go away.The attention and your anger is what they seek.
Report Post »Skwerl
Posted on September 12, 2010 at 12:23pmTrolls…don’t feed them.
Report Post »broker0101
Posted on September 12, 2010 at 11:32amGreat! Thanks for caving, Boehner! Wimp!
Jeff in Miami
Posted on September 12, 2010 at 11:58amDon’t do it until it is done right! This is the Big set up, when the economy continues to crumble this will haunt you forever.
Report Post »aesaac
Posted on September 12, 2010 at 12:14pmbetter not to alienate everyone before the election, middle class needs all the help it can get. the rest can be ammended when the new congress sits.
Report Post »grandmaof5
Posted on September 12, 2010 at 12:20pmI’m going to miss watching Obama whine, altho I’m sure he will find something else to whine about, since whining and blaming are the two things he’s good at. It figures just as Obama’s former budget advisor says tax cuts expiring is a mistake that Boehner caves and throws the job creaters to the wolves – and here I thought we might have a Republican “for the people”. November can’t come fast enough!
Report Post »bookhound63
Posted on September 12, 2010 at 12:22pmIndeed! Thanks for dooming any chance the private sector had of creating new jobs. Is anyone running against him this term?
Report Post »casey1
Posted on September 12, 2010 at 12:22pmWhy is he even bothering to vote with Obama, the Democrats don‘t even need Boehner’s vote. The libs have a mafority and can vote any thing into law that they want. Unless of course some libs are running scared and won’t vote yes.
Report Post »Maybe Boehner won’t be re-elected!
Skwerl
Posted on September 12, 2010 at 12:23pmWhen you make a deal with the Devil, only the Devil wins.
Report Post »Anonimouse
Posted on September 12, 2010 at 12:26pmNever fails – every time Republicans get an opportunity to illustrate conservative ideas, they put their tails between their legs and behave like liberals. “To appear reasonable.”
What does he and the rest of his buds think we’re doing out here? Trying to get a bunch of congressmen elected who aren’t quite as liberal as the current crop?
It’s exasperating.
Report Post »ProgressivesLoveAmerica
Posted on September 12, 2010 at 12:30pmIt’s actually VERY good news. We can’t really afford to keep ANY of the Bush Tax Cuts. They should ALL be left to expire.
There have studies done that show people in a country are actually HAPPIER when taxes are higher.
The United States, historically, has actually PROSPERED and done very well under high taxes.
The problem is this ideological nonsense of constantly cutting taxes & cutting spending and giving away public money to private interests. THAT ideology is the one that has been bankrupting this nation.
I just wonder what Obama traded.
Report Post »PeterBreitholtz
Posted on September 12, 2010 at 12:34pmI think “the Bone” realizes it probably won’t break!
Report Post »CoFX
Posted on September 12, 2010 at 12:47pmto Progressivesloveamerica – American’s are happier under higher taxes? Who did that study – UC Berkley? america has prospered under high tax rates? Might want to do your homework on that one – high taxes have histoically hampered growth and increased unemployment. I do agree aht giving govt funds to private intersts is a big problem, as seen through the multitude of stimulas spending we’ve witnessed in this adminisstration, as well as the Freddy/Fanny fiasco, approved by Bush yes, but guess who was in control of congress then? However, within that same sentence you blame cutting taxes and spending as bankrupting America – technically true if Progressives keep spending Trillions they don’t have, but if you cut Gov’t Spending, making up the difference by letting people hang on to thier own money, they will reinvest it in our economy. Stronger Economy + Consumer confidence = higher GDP and creating of more jobs to fill demand for goods and services = more overall tax dollars to pay off debt, even at a lowered tax rate.
Report Post »bigdeg
Posted on September 12, 2010 at 1:07pmAnyone who believes that taxes should be higher for ANYONE, please do me a favor and move to China!!! Thanks 100% to this pres,I have been out of work for 6 months. I just heard from my old employer that I will finally get my old job back in Nov. because “There should not be no more ‘stupid sh@#’ from uncle sam”. Since a poor man has never given me a job, I really hope that the government is not screwing me again, and I will get back to work.
Report Post »ProgressivesLoveAmerica
Posted on September 12, 2010 at 1:13pmCOFX, yes people are happier under higher taxes because they actually GET what they paid for through their TAXES back to them. According to MarketWatch, “The Organization for Economic Cooperation and Development says people in Denmark, Finland and the Netherlands are the most content with their lives. The three ranked first, second and third, respectively, in the OECD‘s rankings of ’life satisfaction,’ or happiness.
There are myriad reasons, of course, for happiness: health, welfare, prosperity, leisure time, strong family, social connections and so on. But there is another common denominator among this group of happy people: taxes.”
There’s even a British author that Neil Cavuto featured on his show that came to the same conclusion. This isn’t some left wing nut job analysis. This true. It makes sense. The assertion that taxes kill jobs tends to be a lie in many respects.
If we look at income Growth by Quintile, we find that from 1950-1978, the income growth of the lowest 20% grew 138%, the income of the 2nd 20% grew 98%, the income of the 3rd 20% grew 106%, the income of the 4th 20% grew 111%, and the income of the highest 20% grew 99%.
Whereas from 1979-1993 the income growth of the lowest 20% grew -15%, the income of the 2nd 20% grew -7%, the income of the 3rd 20% grew -3%, the income of the 4th 20% grew 5%, and the income of the highest 20% grew 18%. That’s NEGATIVE growth!
When the top tax rates were truly high from 1950 to 1978, American income at all levels grew at about the same pace. But when progressivity was lost in the 80s, the income of the poor began falling, while that of the rich continued growing. Personal income tax rate for the top bracket in 1945 was 91%, from 1946 – 63 was 88%,from 1964-81 was 70%, from1981 – 86 was 50%, in 1988 was 28%, and in 1991 was 31%.
Let’s talk simple economic logistics. During 2005 the income inequality was such that the top 1 percent had same amount of money that they did in 1928 right before the Great Depression. FDR’s Fed Chairman, Mariner S. Eccles, said, “As in a poker game where the chips are concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.” When income inequality is such that the majority of the wealth is concentrated at the VERY top in such FEW hands, the entire system necessarily collapses into itself BECAUSE it becomes TOP-HEAVY! It doesn’t work
They don’t talk about this in Congress and certainly not in the corporate media, but the wealthiest 1 percent of the population earns more income today than the bottom 50 percent. The top 1 percent own more wealth than the bottom 90 percent. We have, by far, more inequality in terms of income wealth than any other Western industrialized nation on the planet.
Report Post »Ronrico
Posted on September 12, 2010 at 1:14pmIgnore the “highly educated” bafoon called progressivesloveamerica – he is just trying to get everyone riled up. His name should give you a clue as to where he stands on all obama socialist agenda issues!!!!!!!!!
Report Post »Croaker
Posted on September 12, 2010 at 1:26pmTo Progressivesloveamerica:
When it comes to political issues, facts can be applied in many ways it seems. I respect your right to believe that tax cuts are bad. I however, do not believe that tax cuts are bad. In fact I believe that everytime we cut taxes we actually increase the actual revenue that comes into the treasury. I do not believe this merely because some radio talk host tells me so or some blogger says it and it happens to be what I want to hear. I believe this because I have done my research. I am not here to convince you that you are wrong either. I laugh though at your comment that people are HAPPIER when taxes are high(according to some unnamed study). I do not see where the US has prospered under higher tax burdens, In fact I see the exact opposite (per Reagan tax cuts per harding/coolidge tax cuts).
Having said that, I still respect your right to your beliefs based upon your own reseach. What prompted me to reply to you personally was your mention of “Public money.” I am not farmiliar with this term. There is no public money except that which is taken form private citizens at the end of the gun. Giving polititcians (on both sides of the aisle) access to this private money is what is corrupting the US. Even though your comments border on outrageous and even though you throw a few hit and run unsupported comments out, I dont believe you are a troll.
There does seem to be two distinct arguments on taxation and our economy, both seem supported equally be each respective political party. The Libs have their keynesian economics and the cons have their supply side Reaganomics. Each side seems equally convinced their side is correct. So I won’t waste time revisiting the whole argument. You are obviously a Keynesian economist. Most of us cons here are supply side. We find your hit and run comments unsupported and ridiculous. Just an FYI, you are welcome to still believe what you will but you will find yourself among the minority here.
“Know what you believe and why you believe it.”
Report Post »danglingbags
Posted on September 12, 2010 at 1:26pmWow. I am impressed Boehner took time from chain smoking in bars, golf and tanning beds and lobbyist fundraisers to be concerned about middle class….OBAMA MUST BE SCARING HIM.
THE NEW REPUBLICAN TEA PARTY…SAME OLD HATE AND DIVISION~~~~
Report Post »MCGIRV
Posted on September 12, 2010 at 1:27pmSadly I concur.
Report Post »ProgressivesLoveAmerica
Posted on September 12, 2010 at 1:31pmCOFX, the Organization for Economic Cooperation and Development says people in Denmark, Finland and the Netherlands are the most content with their lives. The three ranked first, second and third, respectively, in the OECD’s rankings of “life satisfaction,” or happiness.
There are myriad reasons, of course, for happiness: health, welfare, prosperity, leisure time, strong family, social connections and so on. But there is another common denominator among this group of happy people: taxes.
It’s pretty damn obvious!
Report Post »ProgressivesLoveAmerica
Posted on September 12, 2010 at 1:35pmCROAKER, let me give you some hard facts here. let’s talk simple economic logistics.
During 2005 the income inequality was such that the top 1 percent had same amount of money that they did in 1928 right before the Great Depression. FDR’s Fed Chairman, Mariner S. Eccles, said, “As in a poker game where the chips are concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.” So when income inequality is such that the majority of the wealth is concentrated at the VERY top in such FEW hands, the entire system necessarily collapses into itself BECAUSE it becomes TOP-HEAVY! It doesn’t work!
They don’t talk about this in Congress and certainly not in the corporate media, but the wealthiest 1 percent of the population earns more income today than the bottom 50 percent. The top 1 percent own more wealth than the bottom 90 percent. We have, by far, more inequality in terms of income wealth than any other Western industrialized nation on the planet.
If we look at income Growth by Quintile, we find that from 1950-1978, the income growth of the lowest 20% grew 138%, the income of the 2nd 20% grew 98%, the income of the 3rd 20% grew 106%, the income of the 4th 20% grew 111%, and the income of the highest 20% grew 99%.
Whereas from 1979-1993 the income growth of the lowest 20% grew -15%, the income of the 2nd 20% grew -7%, the income of the 3rd 20% grew -3%, the income of the 4th 20% grew 5%, and the income of the highest 20% grew 18%. That is NEGATIVE income growth as a result of your REAGAN REVOLUTION!
Report Post »DaytonConserve
Posted on September 12, 2010 at 1:57pmToo bad you did not actually listen to what John said. Paraphrasing, I will vote for extending the Bush tax cuts to those making less than $250k if that is the only option, meanwhile I will continue to push for extending the tax cuts for ALL.
Report Post »ProgressivesLoveAmerica
Posted on September 12, 2010 at 1:58pmCROAKER, when the top tax rates were truly high from 1950 to 1978, American income at all levels GREW at about the same pace. But when progressivity was lost in the 80s, the income of the poor began falling, while that of the rich continued growing. Personal income tax rate for the top bracket in 1945 was 91%, from 1946 – 1963 was 88%,from 1964-1981 was 70%, from1981 – 1986 was 50%, in 1988 was 28%, and in 1991 was 31%.
So high taxes on everyone, particularly the rich, happen to be very GOOD everyone, including the rich. So there is a very strong correlation between progressive taxation and standard of living.
Weekly per worker income dropped substantially during the Reagan years.
Where the average American might take home a paycheck for $366 in 1972, she would earn $312 in 1987. Median family income, about $31,000 a year in 1973, plummeted in the early 1980s until recovering to 1973 levels in the late 1980s. After-tax median income, however, remained well below 1970s-era levels because of the redistribution of wealth caused by the tax cuts and debts regimen of the Reagan years. Wealth was redistributed from the middle class to the RICH.
Report Post »Ronrico
Posted on September 12, 2010 at 2:11pmPROGRESSIVESLOVEAMERICA – you didn’t engage in any meaningful dialog with Mr. Croaker, all you did was cut and paste some garbage you already spewed out. Oh, i didn’t realize that on top of being a “highly educated’ individual, an expert in Christian history, American history and World history I also find out you are an expert economist! WOW what a guy………..Goooo back to your progressive sites where you are more welcome. bye, bye Oh yea, I’m such a happy person because I pay taxes, I just LOVE it. Are you a happy person also?
Report Post »ProgressivesLoveAmerica
Posted on September 12, 2010 at 2:19pmRONRICO, I was responding to CROAKER in a multi-part answer.
Some issues are a lot more complex than the absolute simplicity with which many conservatives like to express themselves.
Besides, I had to start off by continuing to defend my position.
RONRICO, I humbly suggest you keep your vulgar & disrespectful comments to yourself. At least CROAKER is respectful.
Report Post »Ronrico
Posted on September 12, 2010 at 2:26pmprogressivesloveamerica – take your progressive a$$ back to the 1970′s when we were paying 20% interest rates to own a home. Go back to your carter years, I will take Reagen anytime!!!!!!!!!
Report Post »Ronrico
Posted on September 12, 2010 at 2:30pmprogressivesloveamerica – vulgar and disrespectful? Are you kidding? I can get vulgar and disrespectful if you want but I find you ignorant and can’t stand your stupid progressive ideas!!!!
Report Post »ProgressivesLoveAmerica
Posted on September 12, 2010 at 2:38pmCROAKER, now that I’ve finished giving you a little factual background for my point of view, let mw adress your response more directly.
“When it comes to political issues, facts can be applied in many ways it seems.” I totally agree with this idea and I think it applies both ways. I think higher taxes are good because economic indicators, as I’ve demonstrated previously, actually show them to be good for the AVERAGE AMERICAN, and not for the average Wall Street trader or the average corporate CEO.
The contention that when we cut taxes, it actually raises revenue is a controversial one at best. Some economists will agree with it. Others will not. It all depends on your perspective. The initial phase of any tax cut necessarily results in decreased revenue & increase in the deficit so many conservatives pretend to be so concerned about. The THEORY goes that lower tax rates encourage greater economic activity and thus expand the tax base. However, this is controversial at best because the analysis of different economists elicit different reactions & conclusions. People are indeed HAPPIER with higher taxes & I cited my sources. The Organization for Economic Cooperation and Development compiled the hard facts & Market Watch basically did the analysi proving it.
I’m not being a troll & I thankyou for all the respect you’ve shown me. I use the term public money because that is exactly what taxed money becomes. I find the viewpoint that taxes are taken from people with some degree of violence rather extreme. The view-point borders on anarchy. Anarchy is not chaos. It is simply a perspective. It sounds like libertarian anarcho-capitalism, which is an unachievable ideal. If you live in a society where you drive on roads & use the bridges, etc., then according to that social contract, you pay taxes because you’ve chosen to become a participating member of society.
I’m not sure if there even are two distinct arguments on taxation anymore. Liberal politicians are supposed to be Keynesians. Conservative politicians are supposed to be Friedmanite Supply-Side economists. Milton Friedman was the economist behind Ronald Reagan. I find liberals are too busy trying to out-do conservatives on the ideology of lower taxes & cuts in spending. That’s appeal to favored IDEAS. It has relatively nothing to do with what they do in practice.
Report Post »Ronrico
Posted on September 12, 2010 at 2:47pmprogressivesloveamerica –
Report Post »I know the only way us conservatives know how to express ourselves in with “absolute simplicity” so we need a progressive to explain. We are not up to the standards of you “highly educated” progressives. I really feel sorry for you!!!!!! That was a true slap in the face to Mr. Croaker. I’m so sick and tired to the progressives in this country tearing the U.S. Constitution and Bill of Rights apart and making it read the way they want. I suppose with your Christian self you also believe in a womans right to choose and all the other anti-Christian rights the progressives are trying to push? I could go on and on but you are not worth it!
paulnashtn
Posted on September 12, 2010 at 3:00pman absolutely weak willed whimp
Report Post »goddess1
Posted on September 12, 2010 at 3:00pmI totally; this says it all – another wimpy Rhino! Will the Republicans ever learn anything? My god, when will we TRUE, dependable and reliable Conservatives to represent the masses out here!
Report Post »ProgressivesLoveAmerica
Posted on September 12, 2010 at 3:01pmCROAKER, i agree with you that “When it comes to political issues, facts can be applied in many ways it seems.” I think tax cuts are bad, partially because they increase the deficit, but mostly because they tend to contribute to a precipitous decline in standards of living for everyone. The contention that “that everytime we cut taxes we actually increase the actual revenue that comes into the treasury” is a controversial one at best. The initial phase of any tax cut results in reduced revenue. The THEORY goes that lower tax rates encourage greater economic activity and thus expand the tax base. However there seems to be a huge difference between theory and real life effects. I’ve already cited my sources for claiming that HIGH TAXES MAKE PEOPLE HAPPIER as the Organization for Economic Cooperation and Development and MarketWatch. It’s common sense, if you think about it.
Public money is simply revenue that has been taxed. I do not think taxation is a form of violence. I find that view-point rather extreme. It almost sounds like the viewpoint of a libertarian anarcho-Capitalist. I find that viewpoint useful for academic study & theorizing, but rather impractical to actually implement. If you live & participate in a functioning society & civilization, then taxes are what you pay to help maintain that society. It’s as basic as the social contract. Taxes aren’t about giving politicans access to our money. If you believe the 4th of July speeches, “government of, by, and for the people,” then government isn’t some alien forse stealing from you. Government is a tool of the American people. I’m not being a troll. I trying to provide alternative points of view.
There are supposed to be 2distinct viewpoints on taxation: liberal Keynesian economics and conservative Friedmanite Reaganomics. However, I find liberals are too busy trying to act like conservatives with tax cuts to actually be all that progressive.
Report Post »neverending
Posted on September 12, 2010 at 3:08pmNo surprise – when Republicans get a chance – they will make sure they blow it!!!! Already caving into obama??? Unbelievable
Report Post »jtkell
Posted on September 12, 2010 at 3:10pmBoehner just cut the legs out from under the whole Teaparty movement. The Dems. set a trap and He fell for it. What do you think He would do as Leader. We do not need any more trick bills passed before November. Politicians please give us a break. Do not do or say anything (Please).until after the elections.
Report Post »honey46
Posted on September 12, 2010 at 3:29pmI think this is a good thing. Just wait and see.
Report Post »JeffW65
Posted on September 12, 2010 at 3:58pmI don’t look at this as caving. I look at it as compromise. Boehner knows he can’t push all the tax cuts at this time. He is simply trying to get what he can instead of losing it all. In November he might be able to push harder and force the issue but by then they will have expired and it will mean more to have to fix.
Report Post »JeffW65
Posted on September 12, 2010 at 4:37pm@Progressivesloveamerica
While I don’t agree with your point I respect your right to believe in it. I am of the firm belief that one should hear as many sides of an argument as possible, gain as much knowledge as possible and then form ones own opinion. You are someone I will at least listen to as opposed to danglingbags whom I ignore and have no respect for.
@Ronrico
Report Post »Why are you not willing to listen to someone respectfully posting their point of view? Progressivesloveamerica is being respectful in his post. Why not listen even if you don’t agree. If nothing else, it gives you insight as to how people on the other side of an argument think.
Also I would like to add that I am conservative and would probably agree with you on most issues but definitely not all. I believe in a womans right to choose. Does that make me your enemy? I don‘t think I’m your enemy just because we disagree on something but maybe you feel differently.
benbeaird
Posted on September 12, 2010 at 4:57pmthe problem is compromise. I agree boehner is a wimp just the maine twins and scott brown
Report Post »GOTT-EM-MAUSER
Posted on September 12, 2010 at 4:58pmJust a heads up here, from reading PROGRESSIVESLOVEAMERICA’s posts it becomes apparent that “SHE” probably has very long blonde hair that hides the Schrader Valve in the back of her head. It is probably marked for no more than 35 PSI and somehow too much air was injected, causing these delusional outpourings.
NOBODY I’ve ever met is HAPPIER when the Government STEALS MORE of what they have worked for. That would be the MOST ASININE postulation ever uttered by any IDIOT. Almost EVERYBODY I talk to today, sees our Government as “THE” MORTAL ENEMY of the people and our CONSTITUTION.
The ENTIRE ECONOMIC COLLAPSE we are now enjoying has been brought about by the GOVERNMENT’s unconstitutional meddling in the affairs of private commerce, soley undertaken to enrich the POLITICOS and continue the PHONY MONEY FEDERAL RESERVE SYSTEM stranglehold on wealth creation. Well, the time to pay-up has come, and guess what, the Government hasn’t a penny of real wealth to pay with. Just more worthless FEDERAL RESERVE NOTES. See Commiefornia for how this works.
So by all means, continue to prattle on with all of your nonsense about how we all love big government and high taxes. Very shortly, you and so many others, will be too busy trying to find something to eat, that won’t eat you first, to even remember what your ludicrous opinion on the subject was.
Report Post »unionrockstar
Posted on September 12, 2010 at 5:02pmTO PROGRESSIVESLOVEAMERICA,
On which planet were these studies taken?
Report Post »I am certain Psychiatrists will be interested to know about the happy tax payer’s view.
Taking into consideration the fact that I can’t really understand 1/2 of what you are saying especially the .precipitous part. My guess is that you were also a professor at the University of Chicago.
You are using language way too far over my head for us to have a conversation.
Never the less
Have a nice day
TheRightBistro
Posted on September 12, 2010 at 6:29pmJeffW65,
Thanks for giving such a great response! At least someone has some common sense. We are all people, who have different points of view. We are not going to agree on everything or with some on anything. However, we still need to listen and be respectful!
Report Post »van
Posted on September 12, 2010 at 6:49pmI was just beginning to think that boehner mighty be a little bit different than the rinos but I guess he is one of them. You can’t compromise you principles or you end up with what we have now. My conclusion is that boehners principles are not truly conservative principles.
Report Post »Color him gone.
van
Posted on September 12, 2010 at 6:51pm@PROGRESSIVESLOVEAMERICA, where in the hell did you come up with that?
Report Post »Read a little bit about JFK, one of your heroes, he understood the effect of taxes on the economy.
What a scholar you are!
Croaker
Posted on September 12, 2010 at 7:13pmto progressive:
Well, at least you provided some basis for what you believe in, although I am skeptical as to the objectivity of a study that can measure peoples’ happiness. Regardless, I have seen both sides of the economics arguments and have been researching them for 10-15 years now. I am not here to relive the whole argument again nor do I wish to take up server space in an intellectual endeavor that will not convince you that you are wrong, just as you haven’t convinced me that I am wrong. It is not my purpose to do so. Just as you label my arguments as controversial, I can certainly do the same for yours. As far as this forum goes I can only state what my beliefs are and why. Not for your benefit but for my own and those that think like I do. I do not believe the things I believe because I am conservative, I am a conservative because of the things I believe. You may, of course, write these off as the babblings of an unenlightened conservative fool. This does not bother me, nor does it change my mind. I am suspicious of the motives of a progressive here in these forums when Mr. Beck has made no bones about being anti-progressive, although you are certainly more polite and erudite than the obvious trolls that use these forums. Again I will not waste my time on arguments that have already been made and will continue to be made. I will always vote for limited federal government lower taxes and I will always favor the free market system.
“Know what you believe, and know why you believe it.”
Report Post »Ronrico
Posted on September 12, 2010 at 8:44pm@JEFFW65
In response to your post, I can respectfully listen to anyone that post their point of view but this individual (progressivesloveamerica) has been talking down to everyone on this site. I get so sick and tired of progressives thinking they are so smart and if you don’t agree with their point of view and their socialist agenda, then you are beneath them. When progressivesloveamerica said “conservatives only know how to express themselves with abosolute simplicity” that ticked me off. I don’t need to know how his progressive self thinks because I will never agree with him.
Responding to your comment about you being a conservative and believeing it is a womans right to choose. No it does not make you my enemy, you will have to answer for your actions. But then again you may be an athiest and don’t think you will have to stand in judgement before God. I do not understand you on the subject so we can agree to disagree. This is just another example of the Constitution being trampled on by the progressives and activist liberal judges.
Have a nice evening…….
Report Post »TheRightBistro
Posted on September 12, 2010 at 10:53pmJEFFW65
I don’t believe in abortion, I believe that life begins at conception. I will pray for you, progressivelovingamerica, and for becklies. We all need the grace from God to realize what is the TRUTH about everything. I do not hold your believe for the woman’s right to choose, but I do believe, like RonRico that you will be judged by your actions in the end (final judgement). This is not for me to do but for God alone.
RonRico, I get just as frustrated as you get when the left or progressives think they know it all and start talking down to intimate us conservatives. However, you have to be kind and respectful because that will ultimately turn them around (God Willing they will see the light).
I don’t know about most of you but I am not one for making comments on these types of things, but it is time that we all get like minded people together to start doing this. Once I read this story on this site, I went over to Boehner’s website and posted a comment on his blog about his comments. I would recommend doing the same.
Report Post »Wiz001
Posted on September 13, 2010 at 9:51amHe did not say it was a done deal.. Listen to the mans words and do not assume anything(he is using their tactics). What did I hear? I heard him placate the current admin., and to get some of the people who want the taxes on the rich to vote Repb… when the congress changes to Repubs. then he can get the tax cuts for all the people to stay.. The election is in November and the cuts expire in Jan. so when the GOP wins, they can stall til they take control and get them to pass… He Said “if he has to”, so i figure he will not “if” congress changes?? Just a thought??God Bless us all
Report Post »Mandiru
Posted on September 13, 2010 at 10:16amI know this isn’t the case, but I’m really hoping that Boehner is only agreeing to this until the Republicans can win back part of Congress. Then again, if he keeps this up he’s pretty much killing any chance he had at being the House Speaker.
Report Post »bertr
Posted on September 13, 2010 at 2:45pm“Obama’s new chief economic adviser, Austan Goolsbee, says he‘d be happy to hear that Boehner isn’t willing to hold hostage the middle class for tax cuts for the highest earners.”
Sadly, that is exactly what the Obama administration IS doing, they will hold the middle class hostage to get their way in this
Report Post »Rampart
Posted on September 13, 2010 at 3:35pmProgressivesLoveAmerica says, “…the wealthiest 1 percent of the population earns more income today than the bottom 50 percent…“ Sounds to me like the ”bottom 50 percent“ should get off their ”bottoms” and work harder! YOU ARE NOT ENTITLED TO THE RESULT OF ANYONE ELSE’S EFFORTS. If you want more, you’ll need to earn it.
The name, “ProgressivesLoveAmerica” is a contradiction in itself. To love America, you must love the principles on which America was founded: Limited Government, States’ Rights, Personal Liberties Granted by God, Individual Pursuit of Happiness, Equal Opportunity [NOT equal outcome] for all. Any who seek to change or remove these core American prinicipals, certainly do not “love America.” With the dissolution of *any* of these core founding principles of the American identity, America becomes less great and…well…less American.
We Patriots will not stand for that.
If you think Progressivism [big gov't, wealth redistribution, high taxes, stifling regulation] is the answer, kindly leave us to our silly, antiquated American ideals and find a small socialist country to call home. We’ll all be better off with you GONE from our shores.
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