Bush Meets Deficit Commitment- Early

Lou it is fine to point out the downswing the economy took from the tragic event.

HOWEVER... Instead of recognizing this, Fredo did something no other president has done: cut taxes in war time.

I won't even go into whether or not it is/was a good idea. I'm talking about the troops being there and needing to be supported and then having taxes cut. Then, after Katrina occurred, no recognition was made and there was a call for more tax cuts.

Please, let me know how this is the fault of anyone other than the Idiot in Charge?

 

There is no --- repeat, no --- redistribution of wealth in this country.

The conservatives love to focus only on "federal income taxes," but when ALL taxes are taken into consideration, the rich pay 19% of their income in taxes, and the poor pay 18%.

Sounds pretty damn fair to me.

 

Acually I used it to pay down my credit card, but keep telling youself that folks like me were out buying new shoes.

 

Here is the President's very sound appeal to Congress urging a tax cut:

CONCLUSION The legislation recommended in this message offers a first step toward the broader objective of tax reform. The immediate need is for encouraging economic growth through modernization and capital expansion, and to remove tax preferences for foreign investment which are no longer needed and which impair our balance of payments position. A beginning is made also toward removing some of the more glaring defects in the tax structure. The revenue gain in these proposals will offset the revenue cost of the investment credit. Finally, certain rate extensions are needed to maintain the revenue potential of our fiscal system. These items need to be done now; but they are a first step only. They will be followed next year by a second set of proposals, aimed at thorough income tax reform. Their purpose will be to broaden and unify the income tax base, and to review the entire rate structure in the light of these revisions. Let us join in solving these immediate problems in the coming months, and then join in further action to strengthen the foundations of our revenue system.

 

Well - did you charge your shoes?

 

Ah, yes, those "nice" $300 rebate checks.

Well, my property taxes have increased $500 a year since then.

And I'm paying $1,500 more per year for gasoline now than I was when those rebate checks were handed out.

If it's all the same to you, I would just as soon rewind the clock and start over.

 

No Boom, I didn't. My credit card debt is made up of medical bills and the move to Montana, which was not paid for by Hagadone. Try again.

 

yes but higher gas price will promote much needed fuel conservation.

 

John Kennedy passed a tax cut in 1963 (remember a rising tide lifts all boats - the tax cut was originated with JFK). Correctly me if I'm wrong but weren't US troops fighting in Vietnam then?

 

Just because the appeal for tax cuts seems "sound" to you doesn't make it a legitimately good idea.

Lots of people have given impassioned speeches that sound good in theory only to watch them fall horribly apart when enacted. Such is the way it is here.


And Lou, a rising tide only lifts the boats that don't have holes.

 

If I read the lead of this thread correctly, it said something about "record tax revenues." Funny how this was accomplished by LOWERING taxes, wasn't it?

 

Aren't your property taxes tied to the value of your home? Doesn't that mean your house has increased in value while your mortgage payment remained the same? Isn't that a good thing?