Skip to main content

View Diary: Obama Wants To Cut Taxes For The Rich. (127 comments)

Comment Preferences

  •  Well, clearly I fail at (1+ / 0-)
    Recommended by:
    Hillbilly Dem

    being one of these wordsmiths!

    •  Here's some backup supporting your framing (5+ / 0-)

      in a NYT article published Aug 10, based on congressional analysis numbers:

      Study Looks at Tax Cut Lapse for Rich

      Taxpayers with income of more than $1 million for 2011 would still receive on average a tax cut of about $6,300 compared with what they would have paid under rates in effect until 2001, according to the analysis, which was prepared by the Joint Committee on Taxation at the request of the Democratic majority on the House Ways and Means Committee.

      That compares, however, with the roughly $100,000 average tax cut that households with more than $1 million in income would receive under current rates.

      "The extinction of the human race will come from its inability to EMOTIONALLY comprehend the exponential function." -- Edward Teller

      by lgmcp on Thu Sep 09, 2010 at 10:44:02 AM PDT

      [ Parent ]

    •  It's complicated (3+ / 0-)
      Recommended by:
      Hillbilly Dem, lgmcp, jpmassar

      And most people are lazy and don't want to do all the math, or they are just ignorant of the math.  I try to change that.

      I use this whole "tax cut" thing as a way to show that the "rich" have gotten all the breaks in the last 30 years, but they got more during the last 10.  It didn't create any jobs as job creation during GWB's time was flat.  And those tax cuts just allowed those Richie Rich's to put more money in the bank.

      Then, I ask them if they think that if the rich CEO's thought they had to give more money to the government if they would invest more in their company.  Almost to a person, my voters say yes.

      •  Exactly. (1+ / 0-)
        Recommended by:
        PsychoSavannah

        That's why CEOs didn't get $10 million bonuses during Ike's Administration. Why would the Bd of Directors authorize a $10 million payout to a CEO if Uncle Sam was going to get $9,100,000 of it? The highest tax rate in the 1950s was 91%. Somehow we survived. Yacht sales were, admittedly, somewhat slower than today.

        The Republican motto: "There's been a lot of progress in this country over the last 75 years, and we've been against all of it."

        by Hillbilly Dem on Thu Sep 09, 2010 at 01:23:38 PM PDT

        [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site