Cut Tax Rates For Jobs and Economic Growth [I'm Mad, Dedicated to Those Folks in Detroit]

Alias: Son House | Oct 12, 2009 | Alias: Son House

[Son House]

Illinois Senator Barack ØBama

“I want you to argue with them and get in their face”

I'm in Your Face, I'm Arguing, and I'm Right!

[whitedog57]

1. Democrats were in control of Congress during much of Bush Administration.

2. Federal Reserve, the cause of much of this, is NOT under Federal government control.

So, stop blaming Bush. Blame the FED and the Democrats.

[Son House]

Yep, in fact, Democrats were accomplishes to the Failed Bail-out bill and the prior Stimulus bill that gave credence to the Obama Stimulus. Bush would never get another tax cut through a Democrat Congress

[Son House]

http://fns.blogs.foxnews.com/2009/10/11/the-jobless-recovery/

Businessman Steve Wynn, Chairman and CEO of Wynn Resorts, agreed the most powerful tool the government has is its tax policy.

“The priorities of the administration should have been more directly focused on job creation from the day of the inauguration forward. That’s the thing that changes America,”

“If the government had used its power to restrain its tax collection, they would have given everybody who runs small businesses, large businesses, a chance to hire more people”

[taildragger]

Your Chart noting Revenues at an almost constant 18% is interesting.

We are spending now with the Bamster 22-23% of GDP if my memory is correct but he will take it to 30%.

Steve Forbes was spot on with 17% Flat Tax, give them just a little less than they need. This is where the Fair Taxers are drinking the Kool Aid, their plan is too complicated and will bring back "My Cousin Vinnie" selling Leather Jackets out of the trunk of his Electra 225. Yes I got to see it, it was real, and it will come back with the Fair Tax.

What they need to do is reduce spending and the depletion of the Entitlement Surpluses which would be on top of the marginal reduction in spending from 22% to 17% which is about a 23% cut total. The overall cuts at that point will be draconian, but it may be the only way to save the dollar. Their is no will in Washington to do it, but IMHO it is what the Tea Parties are all about. In our guts we know we are broke and they are not doing the common sensical things that need to be done to fix it.

[Son House]

[Son House]

give them just a little less than they need.

Yes, though I’d go lower so everyone gets a tax break, 9% Flat tax rate

[Man50D]

Cutting tax rates under the federal income tax codes is merely more tinkering with an increasingly oppressive system that maintains the IRS and the 67,500+ page tax code.

The only effective method for a permanent tax cut is a fundamental change of the tax code structure is to replace all federal income taxes with a national sales tax and abolishing the IRS by passing The Fair Tax Act(HR25/S296). The Fair Tax is the stimulus package necessary to revitalize the economy by erasing the 17% disadvantage US firms compared to their foreign counterparts and will encourage US businesses to return more of their plant assets to the US thereby creating more jobs. Fair Tax ping!

[HenpeckedCon]

President Obama doesn't care that tax cuts bring more revenue into the treasury, he has said he wants to raise taxes out of “fairness.”

[RayChuang88]

The Fair Tax is the stimulus package necessary to revitalize the economy by erasing the 17% disadvantage US firms compared to their foreign counterparts and will encourage US businesses to return more of their plant assets to the US thereby creating more jobs.

And it may stop another practice: sending American-owned liquid assets out of the US financial system to keep them out of the hands of the IRS. Right now, we have around US$2 TRILLION participating in the cash-only underground economy and around US$13 TRILLION (the last best estimate by economists) funneled via tax loopholes to offshore financial centers located around the world; can you imagine what would happen to our economy if we can bring back that US$15 TRILLION in liquid assets to the US financial system, essentially the world's largest "private bailout"?

Finally, ending the income tax would save Americans at minimum US$500 billion per year in compliance costs. That's US$500 per year that could be put to better use elsewhere in our economy.

[rgboomers]

‘President Obama doesn’t care that tax cuts bring more revenue into the treasury, he has said he wants to raise taxes out of “fairness.”’

Correct you are. I remember when he said it. This was all anyone needed to know to decide 0bama was unfit to be President or hold any elected office. Why more was not made of this at the time is beyond me.

[HenpeckedCon]

It wouldn't have mattered. John McCain made Bob Dole look like Ronald Reagan as a candidate. He could have made one of “Reverend” Wright's speeches about hating all cracker ass white people on national television and he still would have got elected.

[Publius Valerius]

John McCain made Bob Dole look like Ronald Reagan as a candidate.

Nonsense. McCain's loss wasn't doctrinal--in fact, he had pulled even or ahead of Obama by last September. He lost becuase the bottom fell out of the economy, which the voters associated with Republicans. Combine that with his failure to show up at the debates, and you've got a recipe for a loss.

[RoadTest]

Certain Democrats forced lenders to loan large quantities of money to people who couldn’t pay it back, thus creating the real estate bust and starting the present recession or depression.

To cover their tracks, the Democrats blamed Bush.

[jmaroneps37]

http://www.collinsreport.net/2009/08/19/fifty-years-of-liberal-policies-forcing-detroit-to-a-60%e2%80%99s-style-%e2%80%9curban-farming%e2%80%9d-communes-to-survive/

[MNJohnnie]

Well done.

[HenpeckedCon]

Nonsense. John McCain lost because grass roots republicans loathe him, not the country club republicans, the real ones who love this country. He was the New York Times hand picked candidate who would have lost to President Obama regardless of the economy. He was the worst republican candidate since Wendell Wilkie.

[Fredgoblu]

You mention Detroit, so I'll add a current-day example from Michigan:

Last year, Michigan enacted a set of tax credits aimed at making Michigan the most affordable state for the film-making industry. It is paying wild dividends. Many films are now being shot here, and film-makers are even opening up two new studios.

This year, there's been debate that the state "can't afford" to finance these credits. Some legislators want to repeal the credits.

The fun thing about the debate is that our ultra-liberal local sports-writer-turned-radio-host, Mitch Albom has been at the center of the debate, arguing that the lower taxes have helped to create a business-friendly job-friendly environment.

However, nobody (Mitch, included) has asked the obvious follow-up question: If lower taxes are so good for the film-making industry, why wouldn't they be good for ALL OTHER BUSINESSES, too?!?!

[spikeytx86]

Alright if you get rid of the IRS then who is going to collect the new sales tax? Who is going to enforce the rebates and make sure their is no fraud? Who is going to make sure Businesses send all of the tax that they are supposed to?

If their is a tax their must be a tax collector my friend!

[spikeytx86]

their should be there.