WASHINGTON (AP) - A divided Senate approved an $800 billion increase in the federal debt limit Wednesday, a major boost in borrowing that Sen. John Kerry and other Democrats blamed on the fiscal policies of President Bush.
Mystic - do you know somebody who did receive a tax cut? I sure don't..
Further tax cuts indeed reduce the government's income and thus their ability to repay increased spending. They're starting to dip into funds and are perilously close to not being able to pay out medicare, social security and other such things. Worse, tax cuts for the higher income brackets only make up the LARGEST chunk of income that they could possibly have cut from. It seems clear to me why people would be pretty concerned about this..
Sean Kelly said this in post #4 : Mystic - do you know somebody who did receive a tax cut? I sure don't..
Further tax cuts indeed reduce the government's income and thus their ability to repay increased spending. They're starting to dip into funds and are perilously close to not being able to pay out medicare, social security and other such things. Worse, tax cuts for the higher income brackets only make up the LARGEST chunk of income that they could possibly have cut from. It seems clear to me why people would be pretty concerned about this..
I got a tax cut....but I guess I do fall into Kerry's "version" of rich....though I dont see it that way. I struggle like everyone else does finacially...but I always chalked that up to living over my means...doesnt everyone do that?
Anyhow...because the richer people get a higher cut than the middle class or poor wouldnt that make sense anyhow? How can you give a large tax cut to people that dont make a large amount of money and pay less taxes?
I guess I dont see how the answer to that would be to tax everyone again to pay off the debt...doesnt that in turn make the poor that much poorer? (and even though Kerry said he wasnt gonna tax anyone but those over 200,000 per year...it couldnt realistically be done and still pay for what he wanted).
I thought everyone got a tax cut....am I wrong about that? If so...show me where I can go to see that for myself....
Maybe I shouldnt just assume....point me to the right direction.
Of course thats just my opinion....I could be wrong. (Dennis Miller)
"You might be the toughest little whacker. . .but in my world, you're about as worrisome as a cloudy day." (Dutch Dooley)
I got a tax cut....but I guess I do fall into Kerry's "version" of rich....though I dont see it that way. I struggle like everyone else does finacially...but I always chalked that up to living over my means...doesnt everyone do that?
Anyhow...because the richer people get a higher cut than the middle class or poor wouldnt that make sense anyhow? How can you give a large tax cut to people that dont make a large amount of money and pay less taxes?
I guess I dont see how the answer to that would be to tax everyone again to pay off the debt...doesnt that in turn make the poor that much poorer? (and even though Kerry said he wasnt gonna tax anyone but those over 200,000 per year...it couldnt realistically be done and still pay for what he wanted).
I thought everyone got a tax cut....am I wrong about that? If so...show me where I can go to see that for myself....
Maybe I shouldnt just assume....point me to the right direction.
just wanted t say.... NO not everyone lives above their means.
ooo this is a huge problem in this country.
I make less than 10,000 a year, and yet I consider myself as living in the lap of luxury.
act like you are poor....... you will find that you are rich.
Can I ask...were you the only person deprived of getting a tax cut or something?
of course not, but big deal! the tax brackets are graduated and built that way for a reason. bush's tax cuts favor those in the higher brackets, thus approaching elimination of the graduated tables and establishing something a lot closer to a flat tax. who do you think benefits most by having a flat tax?
tax cut, my foot. it's tossing a bone to the lower and middle class, and retired people like myself, and tossing a bundle to the wealthier americans.
and SOOOO many people are deceived by the fact that they got their tax lowered a little bit. in the overall scheme of things, the rich get richer, and that's exactly what bush wanted.
In case you haven't noticed....there is a war going on, soon to escalate into something you would never imagine.
And how are we to pay for our "security"? With jelly beans?
sowhatsthetruth said this in post #8 : And how are we to pay for our "security"? With jelly beans?
This is exactly the point that Jim & I have been making: tax cuts where they were made don't make any sense because they make the most significant impact in the nation's working cashflow.
If any cuts, I would have advised the opposite: leave the upper bracket taxes as they were and make slightly increasing cuts as the bracket shrinks so that the people who most need the extra beans actually get what they need back in their pockets. The only point of tax cuts for the upper brackets is to make friends among the well-to-do.
Now wait...I didnt mean that I live so far out of my means that I cant get through the week...
I just mean that I have bills to pay...car, house, insurance, I could go on and on...
my point was that just because someone makes a certain amount doesnt mean they are walking around with all this extra cash lying around...
We pay our bills, do things we want to do...but the things we want to do we sometimes have to save for because we have car payments, a house payment, (and again, I could go on and on)..
When I say struggle, I dont mean Im eating from the trash can to get through till next payday...I struggle because we have bills, and when I quit my job to go back to school..that was a cut from our budget...so we had a pay cut in my house, and now we are tight like many other people because of it.
So Sean..you say tax cuts for only the middle class and poor?
Im confused, why is it that people feel that the people that worked hard to get what they have have to be cut off from what everyone else gets?
Why do people feel that the rich are supposed to pay for everyone else?
If one gets a tax cut, why not everyone?
That goes back to my point...someone can look at a tax return and say..wow those people are well off...look at the money they made...too bad those same people dont take into consideration the money they pay out...
Of course thats just my opinion....I could be wrong. (Dennis Miller)
"You might be the toughest little whacker. . .but in my world, you're about as worrisome as a cloudy day." (Dutch Dooley)
mystic said this in post #11 : Why do people feel that the rich are supposed to pay for everyone else?
What is it with conservatives? The poor guys is always the villian for asking for a crumb, while the rich guy is always the hard-put-upon one, struggling to find new ways of fiddling his tax so he can buy another island for his pet poodle. Did you guys have a bad child-hood or something?
In case you haven't noticed....there is a war going on, soon to escalate into something you would never imagine.
And how are we to pay for our "security"? With jelly beans?
thanx for pleading my case. by now, i guess you have figured out that my post was sarcastic in nature?
mystic said this in post #11 : for only the middle class and poor?
Im confused, why is it that people feel that the people that worked hard to get what they have have to be cut off from what everyone else gets?
Why do people feel that the rich are supposed to pay for everyone else?
mystic, i still don't think you get it. if the tax cuts reduce the tax on the highest tax brackets, the rich get more of a cut than the lower income people. let's say a rich guy gets a $5,000 tax break and a poor guy gets a $500 tax break. ut sounds like you're saying that everone should be happy. they ALL got tax cuts. yes, that is true, but the outrageous sums that must be paid by the government to fund the war have to come from someplace. the entire economic spectrum is affected by this inequity. the rich guy gets $4,500 more of a handout in this example than the poor guy.
even if you ignore the question about the wisdom of fighting this war, it shouldn't be funded more by the poor guy than by the rich guy. no one is 'paying for someone else'. the graduated tax rate system has been in place for decades. now dubya decides he should make it more like a flat tax (and the rich get richer).
CRAWFORD, Texas (Reuters) - President Bush will sign into law by Monday a measure authorizing an $800 billion increase in the credit limit of the United States, the White House said.
In a statement issued late on Thursday after Congress gave its final approval to increase the limit to a new $8.184 trillion ceiling, White House spokesman Scott McClellan said the legislation "was important to protect the full faith and credit of the United States."
"The president intends to sign it into law before the close of business on Monday," McClellan said in the statement.
11-18-2004 04:35 AM
