GOP Budget Cut Lie Exposed - Cenk on MSNBC

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[DillonDee1]

@CaitiffFTW - You misinterrupt Thomas Jefferson when he wrote, "All men are created equal"

Jefferson & Franklin had toured Europe & seen how 90% of the people lived in shacks as 10% of the population surrounded themselves with gold, jewelry, & servants.

They thought this was horrible & envisioned something different here

This is why they spoke of placing most of the tax burden on the rich & that ppl should be born equal - not w/ a huge inheritance.

You are no Thomas Jefferson

[DillonDee1]

@cne08 -- youi're right - they can't balance the budget with spending cuts, especially if they refuse to cut the military budget by at least 35%

We don' t have so much of spending problem as we have a revenue problem - the result of cutting the tax rate on the super-rich so drasticially that they're paying the lowest rate ever & less than the middle class.

[CaitiffFTW]

@DillonDee1 There it is again, though. By changing the tax rates based on income, people are being discriminated against. "All men are created equal." How can we have equality when the law itself doesn't treat people equally? Your plan punishes people for earning money. Especially since the difference between the lines are arbitrary, at best.

30% for everyone is simple. No brackets. No limitations.

[DillonDee1]

@CaitiffFTW -- you are right - it takes about 30% in taxes to pay for higways, bridges, schools, defense, etc.

But we know the poor can't pay 30%

So to keep it simple, maybe -

Rich - 60%

Middle - 30%

Poor - 0%

[CaitiffFTW]

@DillonDee1 No. I've said it before. I'm in favor of a flat tax. Tax every person equally, and then cut spending to meet the actual revenue. Michael Moore advocated taking every dime from those 400 billionaires, not seeming to get it that that wouldn't even cover the deficit from this year alone, much loss help with the actual national debt.

So, let's reach a middle ground. No brackets. Everyone pays 30% of their income. And, cut the goddamned spending.

[DillonDee1]

@CaitiffFTW - I do believe in rewarding hard work, but the 400 ricshest Americans have more financial wealth than 1/2 of the US population.

And they don't get a paycheck every 2 wks.

They receive most of their income from Dividends & Cap Gain & Tax-Free Bonds. (Bush lowered tax on Dividends & CG to 15%. ) They pay a low Soc Sec tax rate, if any.

So overall they pay about 16-17% of income in taxes

Meanwhile you pay around 22-35%

Is this really fair?

[CaitiffFTW]

@DillonDee1 Okay. I sit confortably in my computer chair corrected. Thank you. However, you still haven't explained how this isn't a penalty to people who work hard and earn their money. Wealth is not distributed. It is earned. Am I seriously considered an old man when I remember a time when the American Dream meant being ableto earn your way, rather than it being handed to you on the sweat of another man's brow?

So, all men are created equal.... But, you want the law to discriminate. Funny.

[DillonDee1]

@CaitiffFTW - ok, let's review how tax brackets work.

If someone earns $375,000 they've entered the current 35% tax bracket, but you don't just multiply by 35.

Here's calculation: $ 8,025 minus 0 ) x .10 : $ 802.50 (on 1st $8,025 they pay the same tax rate as poorest person)

( 32,550 minus 8,025 ) x .15 : 3,678.75

( 65,725 minus  32,550 ) x .25 : 8,293.75

etc.

No one actually pays 35% Fed Inc Ratte - it is always somewhat less

[CaitiffFTW]

@DillonDee1 Yes, I do. 100% - 35% = 65%

55 * .75 = 41.25

So, for making 5 grand, a person is penalized $13,750.

75 * .65 = 48.75

For making 75 grand a year, getting into the third bracket, you are punished $26,250.

I will grant, however, that I should have said "second bracket" instead of "first" when talking about the fourth bracket.

[DillonDee1]

@smb12321 - you're mistaken - every time we've run up a huge war debt (EXCEPT iRAQ)WE RAISED THE TAX ON THE RICH'

THEY DIDN'T LEAVE THE COUNTRY... THEY DIDN'T STOP WORKING, UNEMPLOYMENT DID NOT GO UP, BUT REVENUE WENT UP AND WE GOT OUT OF THE MASSIVE DEBT.