Rep. Schakowsky on Debt Commission, Obama Budget Speech

[coolerow]

the shit is gonna hit the fan pretty soon and people are gonna start rioting. And still nothing will change until a politician gets hurt

[wsoxman]

This bitch couldn't manage a budget for a Kool Aid Stand.

[Kyanlikethepepper]

75 percent tax for incomes over 500,000. 20 percent under 500,000. Cut defense spending in half. Incorporate luxury taxes. Then I will be satisfied.

[eagles980]

@Kyanlikethepepper So someone earns 489,000 and they get a 20% tax rate while someone who earns 500,001 gets a 75% tax rate? Use your head and come up with a better plan than that because that's something no one will support.

FYI I believe in a s.e.n.s.i.b.l.e. progressive tax rate.

[Kyanlikethepepper]

@eagles980 someone who earns 500,001 would only get taxed 75% for the extra dollar 20% for everything else

[eagles980]

@Kyanlikethepepper That makes no sense whatsoever. Terrible idea.

[Kyanlikethepepper]

@eagles980 wow if that makes no sense, then something is wrong with u. you can disagree, but its not hard to understand, its an idea called tax brackets. the american tax system using it right now.

[eagles980]

@Kyanlikethepepper You're an idiot, plain and simple. The only thing that doesn't make sense with your simplistic plan is the the fact that you think it's a good idea. Where's the incentive to earn more than 500k when someone who earns slightly less than you gets to keep a lot more of their money? You have the brain of a child and deserve to be treated as such.

[Kyanlikethepepper]

@eagles980 Well the incentive to make more than 500K would be the individual making more money, and contributing to a more prosperous country.Lets see if you makes 5 billion dollars, you keep a billion+ of it. make. make 10 billion keep 2+ billion. I know this simplistic plan goes way over your head. its okay, just keep being the greedy stupid person you are.

[eagles980]

@Kyanlikethepepper Wrong again, moron. The vast majority of people don't make over 500k. The ones that do, or at least have the capacity to, wouldn't want to because they would earn less than someone who didn't. I'll explain this to you as I would to a child. If a CEO made 1.2 million dollars, they would earn less than the executive working under him for 450 thousand dollars with your tax plan. Does that sound fair or make sense to you? Now you see why I call you an idiot.

[Kyanlikethepepper]

@eagles980 you obviously don't understand what a tax bracket is. income 1-500,000 taxed 20%, 500,001 or more taxed 75%. that executive you mentioned would make 360,000 and that ceo would make 400,000 (on the first 500,000) and 300,000 for the rest of his money equaling a total 700,000 you douche. go back to grade school i would suggest 4th grade.

[MUTT1126]

I'm really curious how taking in less revenue by lowering taxes, cutting programs that are literally peoples jobs jobs jobs and forcing their employers to lay them off (thus increasing unemployment), and cutting away from education to make our people as a whole less able to compete in the world economy is going to A:take care of the debt (see point 1) or B: make life better for the americans who stand as 98% of the electorate who aren't millionaires. 1-10= positive 150,000?

[tfiore22]

oh please shut up!!! AMERICA is in debt not just rich people. All the democrats want to do is just tax rich people. EVERYONE needs to contribute to get out of debt. Sacrifices need to be made in order to see some serious action take place.

[orewaroricon]

@tfiore22 The Democrats want actual shared sacrifice. The Republicans want shared sacrifice from everyone who isn't rich.

[tfiore22]

@orewaroricon No they don't. The poor have to pay little to nothing in Obamas budget plan and the rich have to pay a crap load more. Thats not a "shared sacrifice" to me. If all the rich were taxed at 100% and not the middle to lower class, we would still be in debt. We need an actual shared sacrifice not the liberals version of shared sacrifice. Its just common sense, why doesn't any liberal get this?

[goldenshots]

@tfiore22 Who the hell said tax the rich at 100%. Thats not the way we are going to get out of this mess. We need spending cuts and reforms along with tax increases for the rich (for now) and in a few years when we are not in a stagflated economy for everybody else. Like Cenk, im a deficit hawk, I want to get our debt down...Our interest payments alone are more then any other discretionary budget for any agency/deptartment (except defense of course)

[tfiore22]

@goldenshots I was using that as an analogy to show that simply taxing the rich is not enough to get us out of debt. The rich only represent a significantly smaller portion than the middle to poor class. About 1%. Even though the government can get a lot of money out of them compared to poor people, it is still not enough to tax them "for now" as you mention especially considering the rate at which we continue to further ourselves in debt.

[goldenshots]

@tfiore22 And one more thing...the poor and middle class technically dont 'pay' anything but they are more effected by budget cuts then the rich. Im middle class. UC tuition this year is about 12-13K. Last year it was 11k. Next year its going to be even higher. The following year it might even be 20-25K. You dont think that effects us? When spending cuts in education are made?

[tfiore22]

@goldenshots I'm middle/poor class too somewhere in between. And actually a 25% cut in education is the only part of that plan I disagree with as I am a student as well. Although in the long run, if expenses for student loans decrease, eventually no one will be able to afford an education forcing school to lower their tuition rates. Whether we are affected by it more or not, drastic measures need to be taken for us to physically get out of debt.

[ravingdead]

@tfiore22 I agree that there is a solution in the middle somewhere but it's the not the current middle (more programs, less taxes). Our military budget needs cut down. It's like we declared war 40 or 50 years ago and we never gave up.

[eagles980]

@tfiore22 How do the rich have to pay a 'crap load' more when they have the same tax rate as middle class America does? Is your definition of 'shared sacrifice' keeping the same tax rate between both the rich and the poor while the poor have to pay for living expenses, housing, food, etc. which take up the majority if not the entirety of their income while the rich don't have to worry about such 'trivial' things? Doesn't sound like sacrifice on the wealthy persons part to me.

[tfiore22]

@eagles980 The percentage ratio of taxes payed for rich-middle-poor is significantly higher for the rich. I personally believe in a flat tax that way people are paying the same amount based on what they make. The top 25% in america pay over 75% of taxes for all america, thats certainly not shared. Just because the poor have it a little harder doesn't mean they should be treated differently. Maybe if they did tax business owners so much, the poor wouldn't have so much trivial problems.

[eagles980]

@tfiore22 Sure a flat tax rate would be 'fair' in number alone, you don't seem to put together the fact that the cost of living doesn't change at all. 35% of a million dollars certainly leaves you with much more leg room when compared to 35% of fifty thousand dollars simply because the cost of living doesn't change. Shared burden? I don't think so. The progressive tax rate makes more sense simply because the rich don't have as much of a financial burden that the middle class and poor do.

[eagles980]

@tfiore22 Cont.

I wonder where you got the idea that American businesses are taxed too much when two thirds of our corporations pay no taxes w.h.i.l.e. the government subsidizes those very same industries. Not to mention the fact that these very same corporations ship jobs overseas on our dime. The budget won't be balanced if we keep handing them free money with no results.

Sound good to you?

[tfiore22]

@eagles980 I'm not referring to big business corporations. I'm talking about small medium sized businesses. Why do you think so many people got laid off? Why is the unemployment rate so high? Because those businesses can't afford to higher people or increase their employees salary. Thats the heart of the economy and it affects middle and poor class people too.

[eagles980]

@tfiore22 So do you endorse making Big businesses pay what they owe in taxes? Large corporations are shipping those very same jobs overseas while at the same time receiving money from the government essentially subsidizing job loss.

Lowering the taxes on an already low tax rate (think historically low) will not stimulate the economy nearly as much as you would think. People put that money into savings and the abomination we call the Federal deficit will suffer even more. There are better ways.

[hollaboutit]

@tfiore22 hahaahhahaa. you fool.

[18CaStRaDoMiS89]

Higher tax rates for the rich and cutting defense spending.

That's all I want.

[justonefirefly1]

END THE FUCKING WAR AND BRING THE TROOPS HOME TO WORK ON OUR COUNTRY - OUR INFRASTRUCTURE AND STOP TEARING UP OTHER PEOPLE'S COUNTRIES AND FUCK THE REPUBLICUNTS WHO STOLE OUR COUNTRY FROM US

FUCK YOU MURDERING FUCKING THIEVES

[ecwaufisxtreme]

Obozo's speech is an EPIC FAIL and will ensure that he will LOSE to Sarah Palin in 2012! President Palin will create a VASTLY SUPERIOR budget that will actually balance the budget and create greater surpluses than Clinton!

[jasonsgroovemachine]

@ecwaufisxtreme By taking money from corporations and giving it to the people like she did in Alaska? Oh wait, that's redistribution of wealth and that's evil.

[frictionRx9]

lolz it's not the responsibility of millionaires and billionares to pay off the debt and provide education and healthcare for everyone else in the country no matter how much you filthy liberal vermin parasite SCUM think it is

stupid liberal filth

[theoriginalKland]

@frictionRx9 I agree, everyone should pay their fair share.

You're becoming more liberal every day!

+1

[frictionRx9]

@theoriginalKland lolz too bad for you that you have no voice or vote on this matter you piece of canadian shit

hahahahahahaha

[theoriginalKland]

@frictionRx9 Actually, it's too bad for you. I don't have to worry about my security/education. The latter of which you would benefit from greatly.

Since I live in an ACTUAL free country.

[cne08]

@theoriginalKland. Don't post to frictionRx9 my fellow Canadian. He's a stupid little gay boy that can't debate like an adult or backup what he says with facts so he resorts to namecalling, racism and lies. friction only talks tough because he lives in his parents' basement and has their protection. He also has no life which is why he posts so much on TYT.

[theoriginalKland]

@cne08 I totally agree with you and I'm quite aware that he's a very ignorant troll.

Also, I am not debating him, I'm baiting him.

Every time he comes here to spew his nonsense he gives TYT +1 views and +1 comments.

Want to piss him off? Reply with a "+1" to every comment he makes cause we all know he's really in love with Cenk, but he's too scared to admit he's gay.

[tumbipanther]

@frictionRx9 Lmao. I swear you watch more TYT than i do... You must be a really committed member of the TYT army. Thanks for your support frictionRx9

[theoriginalKland]

@tumbipanther He's actually in love with Cenk. However since he comes from a gay bashing family, he hides himself behind a troll front.

If his family ever found out he is sexually attracted to a man (and an olive skinned man at that), they would either disown him or take him out behind the barn like a rabid dog.

[nett103]

TYT interveiws should be renamed MSNBC with Cenk

[RumbleHD]

Everybody's ripping President Obama for not doing more. How much freakin more can one man do? Honestly it's like no matter what he does it just isn't good enough. Maybe they'd love it if McCain and Palin were President and Vice-President!

[SinisterSkip]

@RumbleHD

We're ripping Obama for NOT fighting for progressive principles, it's not a matter of "not being able to do", he just doesn't WANT TO. He's not a progressive at all, yet he campaigned on being the biggest progressive in decades. It's just fake.

[spinnersmetal]

Why raise taxes on someone making 500 million a year when we can cut the education and healtchare of children and the eldery? This socialist communist muslim budget is ridiculous.

[sx200ser]

it's simple, progressive income taxes, way up to on the top 50%, corporate tax same 35% you or I pay, zero subsidies, if the government wants it buy it at market value, instead of giving out checks, stop rigging the system and play in it's not socialism if it a democracy, some like to use the US postal services thats paid for by stamps, I'd like to see the public option health care, or even public college

[TAz69x]

holy shit my penis is itchy

scrotums are hard to scratch

[Deathnotepuppetgod]

omg i senn the matrix at the end!!!

[RichoRosai]

@Deathnotepuppetgod I saw that shit and I thought my fucking graphics card was artifacting again. I had a heart attack trying to remember if it was still under warranty.

[TheOkham]

Obama needs to be horsewhipped

[AssRapingHorseCock]

Is it just me or does Jan Schakowsky look like an older Gabrielle Giffords?

[lasku0007]

@AssRapingHorseCock lol...nope you are not the only one thinking that way. I thought the same way

[Irwin109]

But what happens when you tax those billionaires that 49%? Their products cost goes up so they can get more money, or at least what they were getting before the tax increase. Who buys their products? Everyone underneath them so would taxing the rich really work?

[pinochska]

@Irwin109 yes because if they increase the price of the product noone will buy it from them hence buying it from somebody else therefore redistributing wealth

[RetiredBard]

@pinochska Thank you. I'm glad I'm not the only one who understands that.

[dinex2]

@Irwin109

They are talking about income tax. So this has nothing to do with the prices on products. And if someone thought they could make more money on raising their prices they would. The prices on the products you buy aren't what they are because rich people is trying to give you a break. They are what they are because that's how they think they will make the most money.

[logoth80]

@Irwin109 income tax, not value added or sales tax.

[TheGiantRobot]

@Irwin109

How does taxing a billionaire increase his product cost? A billionaire isn't a corporation.

If you don't tax people and corporations progressively, what happens is end-game Monopoly. No competition, little upward mobility of anyone, ever increasing poverty, and eventually the complete fall of a nation.

[dreamcoyote]

@TheGiantRobot

I know what you mean..

if this is a game of monopoly, it feels kind of like our game ended a couple decades ago, and then it got strung along by with the south american board and some other monopoly games andthe bad debt process just got bigger and bigger.. and the game breaks down if you play too long.

and it's been played for wayyyy tooo lonnggggg..

[TheGiantRobot]

@dreamcoyote

Yeah, we need a reset before America becomes a toxic desert, literally.

[Violent2aShadow]

@Irwin109 Income taxes are based on profit, not sales price. Businesses are already charging at the optimal level that generates the most profit. So for the most part, no, raising income taxes won't raise product costs.

[803brando]

@Irwin109 "...would taxing the rich really work?" yes, yes it does. i want you to find out for yourself what the corporate tax rate was during the 1950's.(about 1950-1960).

[chewey59428]

i am a middle class person i make 32k a year before taxes i would love to pay more taxes if we all pay an equal share. And get rid of the IRS and just do like an % tax on all people like 25%. you would not do an return at the end of the year just take 25% from the the pay checks and make cooperation pay the same as well.

[dreamcoyote]

@chewey59428

check out Singapore's system. it's simple & neat. it's mostly a flat tax with some progression in steps. under like $80k a year there is %0 tax. it goes up to ~ %22(?) at like $350k plus? how can they do that? they have almost NO deductions. they can list all deductions on 1 piece of paper. %0 on capital gains.. cor taxes are two step, also eliminating taxes for the lowest bracket I think.

repubs point at their low corp tax rate, but they have ZERO tax holes. GE would shit.

[dreamcoyote]

@dreamcoyote

they also let you either do your taxes yearly, submitting 7 minutes of paperwork in April. they mail you a bill in September. or you can pay once a month along the way. either way it's completely simple. repubs love their tax rates but big oil and everyone else would actually PAY taxes so they don't want that.

IMHO it means you can adjust the tax rates because you don't have tax cheating. income tax can be lower because there are no shelters, unlike the truly rich in the US.

[AudioForAnarchists]

Representative Schakowsky FTW!

[LearnedHand007]

#1!



[dsquaredmlg]

@LearnedHand007 nice

[TAz69x]

@LearnedHand007 *Applause

"clap clap clap"

=3