California dreamin

[Yannis]

Who Pays Income Taxes And How much?

% of AGI and %of Federal Personal Income Tax Paid
Top 1% 40.42%
Top 5% 60.63%
Top 10% 71.22%
Top 25% 86.59%
Top 50% 97.11%
Bottom 50% 2.89%
(Tax Year 2007) Source: Internal Revenue Service

And This is before Obama's income redistribution project even began... Remember all those afternoons when you had to study while your friends were out playing football? It may be an oversimplification, and, I know, for many people, life has been unfair, BUT, for the most part, it is the hardest working, most creative people who make it financially in this country. They then 'earn' the 'privilege' of paying everybody's income taxes. Even if I could stomach this, my problem is that no-one ever says 'Thank You'

 

[Mav88]

thank bush for most of that:
The story of today’s deficits starts in January 2001, as President Bill Clinton was leaving office. The Congressional Budget Office estimated then that the government would run an average annual surplus of more than $800 billion a year from 2009 to 2012. Today, the government is expected to run a $1.2 trillion annual deficit in those years.

You can think of that roughly $2 trillion swing as coming from four broad categories: the business cycle, President George W. Bush’s policies, policies from the Bush years that are scheduled to expire but that Mr. Obama has chosen to extend, and new policies proposed by Mr. Obama.

The first category — the business cycle — accounts for 37 percent of the $2 trillion swing. It’s a reflection of the fact that both the 2001 recession and the current one reduced tax revenue, required more spending on safety-net programs and changed economists’ assumptions about how much in taxes the government would collect in future years.

About 33 percent of the swing stems from new legislation signed by Mr. Bush. That legislation, like his tax cuts and the Medicare prescription drug benefit, not only continue to cost the government but have also increased interest payments on the national debt.
Mr. Obama’s main contribution to the deficit is his extension of several Bush policies, like the Iraq war and tax cuts for households making less than $250,000. Such policies — together with the Wall Street bailout, which was signed by Mr. Bush and supported by Mr. Obama — account for 20 percent of the swing.

About 7 percent comes from the stimulus bill that Mr. Obama signed in February. And only 3 percent comes from Mr. Obama’s agenda on health care, education, energy and other areas.

If the analysis is extended further into the future, well beyond 2012, the Obama agenda accounts for only a slightly higher share of the projected deficits.

wow, just wow. The liberal press puts out some bilge and someone named free thinker eats it up.

Stimulus was $700B and gave us $400B increase in entilements alone. That jackass hopes you can't add, that's all.

A 700B stimulus bill is only 7% of a 1.4T deficit!! It staggers the imagination as to how these hacks are just hoping that nobody will actually check the numbers.

 

[Mav88]

.... Amazing isn't it? and it that piece above he lambasts Bush prescription drug benefit as adding to the deficit, while Obama has just jacked up social spending orders of magnitude more.

no, what really amazing is the tortured arguments/lies to blame bush for everything.

It's not hard, really. In 2008 the deficit was $455B, that was all bush. I didn't like a $455B deficit, it was uncomfortable. 2009 was an exceptional year, deficit + TARP+ crisis. Let's call 2009 as both belonging to Bush and Obama, since Obama supported TARP and actually illegally spent soome of the money on other items.

Run forward to 2010, TARP is gone and it actually costs a lot less than we thought. There is also about a $300B drop in tax revenue, so that brings us to appoximately a $750B deficit if we just let Bush keep going, in fact make it $800B. The deficit this year is about $1.4T.

Thats a $600B increase, all due to Obama and the dems. It theirs and theirs alone. It's their stimulus, it's their cash for clunkers, it's their massive increases in medicare and medicaid etc. all in one year. So we have this massive 'shit your pants' non-TARP credit card spending spree all liberals can say is it's bush's fault and wonder why people are upset.

This isn't reagan, this is a guy who doesn't even pretend to control himself. Reagan tried spending cuts and a demo congress said no way. This guy holds a news conference when he finds out he can cut $100M in some meaningless way. Liberals look the other way and lamely try and blame bush.

Hey demos, then why the hell don't you raise taxes and raise them now? Why the hell is Obama considering extending the evil bush tax cuts????

 

[..........]

Quote from Mav88:

You guys really can't form a coherent argument can you?

First of all the DoD is not a social welfare organization so it does not attempt redistribute,

Absolute bullshit.Blackwater(Who is owned by a friend of the Bush's ) got 1000.00 a day for each one of their mercenaries,and much more for thier helicopter units etc.We all know about halibuton/KBR etc.That is money taken from the non rich and given to the rich by republicans

Bush's 1.8 trillion in tax cuts for the rich (That has to be paid back by the non rich) and 700 billion spent on Iraq cost more then Obamas stimulus and health care

 

[TGregg]

Quote from Yannis:

Even if I could stomach this, my problem is that no-one ever says 'Thank You'

To be fair, it's not the no thank you, but the "you aren't paying your fair share" and "stealing from the poor" stuff that gets old.

 

[..........]

Quote from Mav88:

Third, minorities use the DoD to get jobs and training and are overrepresented there, so the DoD is actually a wealth transfer to minorities.

Yeah,enlisted men get 100 a day while blackwater gets 1000 a day.The suppliers of military equipment and services gets hundreds of billions due to a Republican starting a war but in a Republicans mind its wealth going from rich to poor

 

[Mav88]

Blackwater? very small private outfit, they get paid by anyone who employs them.

The numbers there are so small as to be insignificant, you are trying to make an argument but this is quite a reach.

Yes enlisted people make less, but most of the combat billets are white people, and an even smaller percentage of special forces is minority. Blackwater gets it's people mostly from special forces. To make some sort of claim that fighting in Blackwater is a scheme of some sort of wealth transfer from rich white people to poorer white soldiers is,.... is.... well let's say that sort of claim is not worth anymore time.

Any transfer of gov't money is mostly from white people to whoever. You can never claim that gov't spending on anything is off the backs of the poor or minorities. There is no way you can win the numerical argument, Obama's opportunistic $400B a year social spending increase alone is twice war spending, just the increase is twice war spending. The overall social budget dwarfs anything by comparison.

 

[murray t turtle]

Quote from CaptainObvious:

Fable of the day:
The locust is a species that can breed rapidly under suitable conditions and subsequently become gregarious and migratory.
You cannot teach a locust to eat less by giving him more. Farmers that attempt to "help" the locust population by feeding them soon find themselves without any crops for themselves, or the locust. The farmer cannot expect the locust to figure this out on their own. A locust will do what locust's do. They eat and breed. The question is, who will run the farm? The farmer or the locust?

===============
Good question.
Part of the answer depends on the farm location. AZ is talking about not supplying 25% of power to a CA location, something about a boycott.LOL

 

[FeenixRizin]

Quote from Mav88:

money is not an illusion, that's stupid.

point at money. what's its intrinsic value...


Econ 101



Mine was a reply to a question of where money goes, rather then a focus on were money comes from ...



(a world of abstraction. )