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How to fix economy: lower corporate taxes, higher taxes on the middle class

Discussion in 'Sports and News' started by YankeeFan, Nov 11, 2011.

  1. YankeeFan

    YankeeFan Well-Known Member

    No, that's not my solution:

    Oh, and it's not from some right wing news source either: http://www.nytimes.com/2011/11/13/magazine/adam-davidson-tax-middle-class.html?hp

    So, yeah, if you want to keep this level of spending, the middle class is who is going to get screwed.
  2. LongTimeListener

    LongTimeListener Well-Known Member

    "between $30,000 and $200,000" is like saying "the Rams and the 49ers have between one and seven victories this season."
  3. Mizzougrad96

    Mizzougrad96 Active Member

    I'm not saying I'm in favor of Cain or Perry's plan, but I think a start would be raising taxes on things like luxury cars, private jets, yachts, second/vacation homes, fancy jewelry, etc...

    I doubt it would even be a deterrent from the super wealthy continuing to get such items and you can't really complain about it when you have the choice to make the purchase or not.

    I'd also tax the hell out of cigarettes and liquor.

    I'm not saying this would take care of everything, but I think it would be a start.
  4. YankeeFan

    YankeeFan Well-Known Member

    Yeah, but they put the top of that range at $200,000 because other plans already tax folks making more.

    The point is, you need to tax everyone all the way down to folks making $30,000 to raise enough revenue.

    You can tax the "rich" at 100%, and it won't raise as much money as taxing the middle class.
  5. YankeeFan

    YankeeFan Well-Known Member

    That's a disaster.

    I've posted links to the "yacht" tax in the past.

    It hurts people who build, sell, transport, clean, work on yachts.

    Same thing with other luxury taxes.
  6. LongTimeListener

    LongTimeListener Well-Known Member

    Depends where the definition is. I thought Obama should have held firm at the $250,000 level, but obviously that was a non-starter. The models I've seen of simply returning to the pre-2001 levels for everybody, and aligning capital gains rates with income rates on individual returns, look promising.

    Also, the article is pretty disingenuous if it accepts 35 percent as the corporate tax standard. You can look at the entire Fortune 500 and you won't find one company paying half that.
  7. YankeeFan

    YankeeFan Well-Known Member

    He covers that:

  8. Mizzougrad96

    Mizzougrad96 Active Member

    Should we just give up and invade China? :D
  9. Ben_Hecht

    Ben_Hecht Active Member

    Middle Class = $30,000 . . . .

    Who greenlighted THIS level of mongoloid idoicy?

    Let's just kill ANY chance for the economy to revive, for the foreseeable.

    What's left of the middle class is stretched to the gills, and now, some douche thinks it's a good idea
    to put a knife in its collective heart.

    Call the distributors . . . tell 'em not to insert the Magazine, this week.

    Otherwise, they're in for another blast of Jayson Blair/Judith Miller-level embarassment.
  10. Ben_Hecht

    Ben_Hecht Active Member

    Cigs are already taxed to the moon, but you can expect to see the tariff grow still higher.

    Luxury taxes always work.

    Your last sentence is dead-on.
  11. deskslave

    deskslave Active Member

    Yet more trickle-down bullshit.

    Assuming that the people who build, sell, transport, clean and work on yachts are middle class, they're being hurt either way, aren't they?

    It's also pretty stupid to think that someone who's willing and able to spend $10 million on a fucking boat isn't going to buy that boat if it costs $10.1 million or $10.5 million.
  12. Azrael

    Azrael Well-Known Member

    Fine, you want an honest tax increase across the board? Eliminate loopholes from top to bottom? Spread the sacrifice across corporations and individuals?

    Agreed - if for every cut in programs like SSI, there's an equal cut in defense spending.
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