Tax Breaks are not all that stimulating. If they were, they would have already.
There are only approximately 1.18 Million people that earned $250,000 or more in 2009. That's only .393% of the US population!! Someone add them up to check my addition, K? I rounded by thousands.
This is a report that Social Security* did based on 2009 IRS reporting. It's important to see the realities in our country if this debate is to be meaningful. The realities for 71% are dismal, btw.
Just how stupid do they think we are? The GOP and Obama really want to short change 99.607% of the US population in order to give the Rich, Wealthy .393% a 4.6% tax break. Tax them and use as offset to provide relief for the unemployed. That would be stimulative.
Clink link above for column headings or look below.
The Obama Tax Cut Bill will NOT create jobs. We all know this.
We don't have an economy of scale capable of employing all workers seeking a job. We shipped the jobs overseas. People will use their tax savings to either pay off debt (a windfall for the banks and medical facilities). The wealthy will do whatever they want to with this additional disposable, unneeded 'income'.
Harsh reality.
Certainly people need Unemployment Insurance. UI is a great economic stimulus. So, Let Congress vote on this. But for heaven sakes, take care of the 99ers, too! Tout that it will be paid for WITH the 3.6% increase in tax on the Rich!
And certainly increased taxes on already strapped families will be a burden for most. However, swiping funds from Social Security runs the risk of creating a much worse threat and/or burden on these very same families when/if they need it. Remember, SSI helps when dad dies and/or when a family member is terminally disabled, as well as retirement.
Vote on this separately, too. Let's make it clear who is for or who is against the 99.6% of the people.
Again, these issues are separate issues and need to be remain separate issues. Quite frankly, both can be passed through reconciliation, like the Bush Tax cuts were.
Each Congress Person must show up and show their hand, imo.
The Hostage of social services for the 99% by a windfall 4.6% tax break for less than 1% is simply irresponsibly insane.
And its stupid politics. Of course the GOP will immediately call this the Obama Tax Cut from the day it passes onward. They will blame Obama/Dems for increasing the deficit, shifting the real blame from their irresponsible, unfunded, 10 year Bush Tax Cut package.
Dah!
Are we stupid enough to believe this?
I am proud of the Democrats who reject Tax Cuts for the Rich.
Good grief, we are ONLY asking The Rich, less than 1% of Americans to pay an additional 4.6%! from 35% up to 39.6%! That's down from the 50% they paid in the 1980s! The few that were allowed to become rich have not paid an historic tax rate since the Reagan Administration upped taxes on the poor and decreased taxes on the rich. Nice.
3.6% IS NOT AN EARTH SHATTERING INCREASE! For only 1.18 million Americans.
There are more 99ers that are facing homelessness!
FIGHT FOR THE MIDDLE CLASS! and if the GOP thumbs their nose at us, let them be exposed as the heartless legislators they are.
The suffering has been and will be created by the GOP if they continue their modus operandi. Surely, the people will tire of them quickly under duress.
I'm tired of Dems being a GOP patsy: Easily manipulated or victimized.
Or, like Poland, are we a democracy in name only? That Congress isn't voting according to the majority's opinion, isn't the question reasonable?
And Obama meeting with the President of Poland yesterday? Flag anyone!
If you have Naomi Klein's Shock Doctrine, go read the history of Poland.
So, no! NO CONTINUATION OF THE EXTRA TAX CUTS FOR THE WEALTHY.
History of Tax
THE SAD STORY OF AMERICAN'S WAGES:
This great chart is from
http://www.economicpopulist.org/...
Who created the chart from a Social Security 2009 Income report collected from the IRS:
5,000 Americans earned $57 Billion?
And the GOP just voted down a measely $14 Billion to give the elderly a check for $250?
I am just flummoxed and confused.
You want to find where you can save some money? Unfund private contractors. This is a snapshot of just IT spending:
Btw, we have paid a lot of money for botched/unusable work. Our loss, private profits' gain. We are patsies.
In 2008, the federal government handed out contracts to the private sector totaling $525.5 billion—up from $209 billion in 2000. That’s about a quarter of the entire federal budget. The DoD alone accounts for about $390 billion, or nearly three-quarters of total federal contracts.
Really, I think we should demand that funding for cyborg insects end. This will not turn out well for us.