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Democrat voters LOVE Bill Clinton (for some strange reason). Bill Clinton and the Democrat Congress RAISED taxes on all Americans shortly after Billy took office in 1993. It seems only fitting that all those middle class Democrat voters pay HIGHER taxes back at Bill Clinton's level. What?! Democrats say that raising taxes will hurt the economy? But not raising taxes on the "rich"--who do ALMOST ALL the risky investing and job creating in our country. Raising taxes on them is OK. But raising taxes on the middle class Democrats--who voted for those high taxes--will hurt the economy. Make sense? Nope. Nothing a Democrat says ever makes sense. Let the Bush tax cuts expire on EVERYONE. The tax increases coupled with Obamacare taxes will push the country into a DEEP recession. Millions of Obama voters will lose their jobs over the coming four years and they deserve it! They voted for it. "Four more years! Four more years!"
punky2012, i totally agree, let the Bush tax cuts expire for everyone, lets get everyone paying in and the real pain be felt. Elections have consequences, i really dont care if the Republicans hold Congress in 2014, it's become eveident the Santa Claus party will be in power for awhile, 51 % want 10% to pay for everything.
Lawmakers could raise a significant amount of money by reducing or eliminating some tax breaks for the wealthy — without raising tax rates. But tax experts warn that it wouldn't be easy because all of those tax breaks are important to powerful interest groups.
That is why removing tax breaks for anyone will not happen. They should, because every "special group" under the sun has their own tax breaks, but they won't - for the same reason.
The 2% have gotten most of the benefit, we can pay first. Santa Claus filled Mitt's stocking for years.
"Currently, a married couple pays 15 percent on taxable income between $17,400 and $70,700." So, this is the rate the Romneys paid, which, I guess ties them to the average American. I'd say it would be a good thing to remove the deductions that allowed them to pay so little--like the exemption for capital gains, carried interest, and dividends as ordinary income. Higher taxes on income for the wealthy might spur this group to invest in things that are deductible--like employees, or their companies' development.
Elections have consequences. Raise taxes on the wealthy, but also eliminate all the deductions the wealthy can claim. The millionaires of Wall Street, Hollywood, and Athletes voted overwhelmingly for Pres Obama, time to reap the rewards of their votes to support the middle class.
I say close the loopholes and raise the rates. I'd gladly give the 100 bucks the Bush tax cuts saved me so the rich would pay their fair share. We did just fine before the bush tax cuts and we will again. As far as job creation....there is no proof that raising rates will curb that. If an employer can provide a job that will make him money he will do so, if not...he won't. Republicans have been selling us a bill of goods on that for along time. And we need to find a way to punish companies that ship jobs over seas. Maybe keep them out of the american market for awhile. If its so great to move overseas they can go without our market far as I'm concerned. Like Romney said, the rich are doing well, and will continue to for a long time to come. It's disgusting, unameican, they pay so little now. I don't know how they can say some of the stuff they do and keep a straight face while they laugh all the way to the foreign bank!
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