Obama : Reagan a "wild-eyed, socialist, tax-hiking class warrior"
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11-04-2012, 01:43 PM (This post was last modified: 11-04-2012 01:51 PM by germanyt.)
Obama : Reagan a "wild-eyed, socialist, tax-hiking class warrior"
Totally just killed the Republicans.

http://news.yahoo.com/blogs/ticket/reaga...33697.html


Today's Republicans might view Ronald Reagan as a "wild-eyed, socialist, tax-hiking class warrior," and the late conservative icon's views on taxes might have disqualified him from the party's nomination in 2012, President Barack Obama said Wednesday.

Obama, defending his "Buffett Rule" call for higher taxes on the very rich, said in a speech that he was "not the first president to call for this idea that everybody has got to do their fair share." He went on to say:

Quote:Some years ago, one of my predecessors traveled across the country pushing for the same concept. He gave a speech where he talked about a letter he had received from a wealthy executive who paid lower tax rates than his secretary, and wanted to come to Washington and tell Congress why that was wrong. So this president gave another speech where he said it was "crazy"that's a quotethat certain tax loopholes make it possible for multimillionaires to pay nothing, while a bus driver was paying 10 percent of his salary. That wild-eyed, socialist, tax-hiking class warrior was Ronald Reagan.

He thought that, in America, the wealthiest should pay their fair share, and he said so. I know that position might disqualify him from the Republican primaries these days, but what Ronald Reagan was calling for then is the same thing that we're calling for now: a return to basic fairness and responsibility; everybody doing their part. And if it will help convince folks in Congress to make the right choice, we could call it the Reagan Rule instead of the Buffett Rule.

Yet Reagan also championed the very same "trickle-down" economics that Obama has roundly denouncedthe idea that tax cuts for the wealthy lead to investment that generates
growth and thereby jobs. Obama on Tuesday described this economic policy in harsh terms, saying its supporters "don't seem to understand how it is that America got built."

"In this country, prosperity has never trickled down from the wealthy few," he said. "Prosperity has always come from the bottom up, from a strong and growing middle class."

Obama lumped trickle-down economics among "old broken-down theories" that he blamed for the 2008 global economic meltdown.

“Whenever you find yourself on the side of the majority, it's time to pause and reflect.”

-Mark Twain
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11-04-2012, 01:54 PM
RE: Obama : Reagan a "wild-eyed, socialist, tax-hiking class warrior"
What happened to your Ron Paul?? Now you are going to the GOP??? What Obama has said is the truth. R M Nixon would be a bleeding heart liberal in today's GOP. Nixon was NO liberal, neither was Reagan. Both of them were sorry ass leaders.

History, I believe, furnishes no example of a priest-ridden people maintaining a
free civil government. This marks the lowest grade of ignorance, of which their
political as well as religious leaders will always avail themselves for their
own purpose. ~ Thomas Jefferson
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11-04-2012, 02:02 PM
RE: Obama : Reagan a "wild-eyed, socialist, tax-hiking class warrior"
(11-04-2012 01:54 PM)N.E.OhioAtheist Wrote:  What happened to your Ron Paul?? Now you are going to the GOP??? What Obama has said is the truth. R M Nixon would be a bleeding heart liberal in today's GOP. Nixon was NO liberal, neither was Reagan. Both of them were sorry ass leaders.
What?

So first Reagan is a bleeding heart liberal but then he's not a liberal? And what about Ron Paul? And what are you talking about 'going to the GOP'?

What?

“Whenever you find yourself on the side of the majority, it's time to pause and reflect.”

-Mark Twain
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11-04-2012, 02:08 PM
RE: Obama : Reagan a "wild-eyed, socialist, tax-hiking class warrior"
You understood what I was saying. the right wing is so extreme even Ronald Reagan wouldn't agree with them.
As for the Ron Paul I was wondering why you lost his pic on your posts. I guess I should have made that clear.

History, I believe, furnishes no example of a priest-ridden people maintaining a
free civil government. This marks the lowest grade of ignorance, of which their
political as well as religious leaders will always avail themselves for their
own purpose. ~ Thomas Jefferson
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11-04-2012, 02:59 PM
RE: Obama : Reagan a "wild-eyed, socialist, tax-hiking class warrior"
(11-04-2012 02:08 PM)N.E.OhioAtheist Wrote:  You understood what I was saying. the right wing is so extreme even Ronald Reagan wouldn't agree with them.
As for the Ron Paul I was wondering why you lost his pic on your posts. I guess I should have made that clear.
I wanted to put the quote that is now there and didn't have room for both. Ron is still in my avi. And I agree with you and Obama.

“Whenever you find yourself on the side of the majority, it's time to pause and reflect.”

-Mark Twain
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12-04-2012, 10:42 AM
RE: Obama : Reagan a "wild-eyed, socialist, tax-hiking class warrior"
I'm starting to wonder if this Buffet Rule will raise any substantial revenue. IMO that's what tax increases should be about. Not about being jealous that someone makes more money than you.

http://money.cnn.com/2012/04/12/pf/taxes.../index.htm

NEW YORK (CNN Money) -- A lot gets lost in the rhetoric about the Buffett Rule, which would impose a minimum 30% tax on millionaires. And at the top of the list is this fact: Most millionaires already pay higher effective tax rates than just about everyone else. Certainly, many people who earn at least $1 million a year pay an effective rate of less than 30%. But they still pay a higher percentage than most people further down the income ladder. Broadly speaking, the effective tax rate is the percentage of your income that you pay in taxes. The rate can be measured several ways.

For example, using a very broad measure of income, and counting federal income and payroll taxes, the average effective federal tax rate for people making between $40,000 and $50,000 was 12% last year, according to estimates from the Tax Policy Center, an independent research group. By contrast, the rate for those making more than $1 million was 20.1%. The difference is even starker if you strip out the payroll tax and look just at income tax liability. Those in the middle-income group had an effective rate of just 3.2%. Millionaires paid 18.9%.

In both of those scenarios, the Tax Policy Center counted gross income plus less obvious sources of compensation, such as the employer share of a workers' payroll taxes. Obama's Buffett Rule: FAQBut an even narrower measure of income -- adjusted gross -- yields similar results. In 2009, among people who paid taxes, those making between $30,000 and $50,000 paid an average tax rate of 6.4% looking at income tax liability alone, according to IRS data. Millionaires paid 24.6%. Averages, of course, don't tell the whole story. That's because any two taxpayers within an income group can end up paying very different rates, depending on how they earn their income and which tax breaks they qualify for. The Buffett Rule would level the playing field a bit among millionaires.
Consider two millionaires. One earns most of her income as a highly paid executive, and the other gets the bulk of her income from her investment portfolio. Currently, the executive pays a much higher effective rate than the investor because her paycheck is taxed at the top rate of 35%. She would also owe payroll taxes on her income. The investor, by contrast, pays just 15% on her long-term gains and dividends. She pays 0% if she invests in tax-free bonds. And at least until next year, she owes no payroll taxes on her investment income. (In 2013, however, she would be expected to pay Medicare taxes.)

For its part, the Obama administration argues that the Buffett Rule is targeted at those millionaires -- like the full-time investors -- who can structure their income to greatly minimize their tax bite.
The White House estimates that 22,000 households with incomes higher than $1 million paid less than 15% of their income in income taxes in 2009. And a very small number of them ended up owing nothing at all -- fewer than 1,500 that year, according to the IRS.But that doesn't mean the Buffett Rule wouldn't also hit other millionaire households that already pay a much
higher effective rate than other Americans, just not as high as the new 30% minimum. All told, the Tax Policy Center estimates that about one-third of the richest would pay higher taxes under the Buffett Rule in 2015 than they do today.

“Whenever you find yourself on the side of the majority, it's time to pause and reflect.”

-Mark Twain
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16-04-2012, 12:13 PM (This post was last modified: 16-04-2012 12:17 PM by MrGnawty.)
RE: Obama : Reagan a "wild-eyed, socialist, tax-hiking class warrior"
It'd create more revenue than the Bush Tax Cuts did... >_> lol

Found this... thought it was interesting: http://content.usatoday.com/communities/...4xiDqsV1tE
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16-04-2012, 01:05 PM
RE: Obama : Reagan a "wild-eyed, socialist, tax-hiking class warrior"
(16-04-2012 12:13 PM)MrGnawty Wrote:  It'd create more revenue than the Bush Tax Cuts did... >_> lol

Found this... thought it was interesting: http://content.usatoday.com/communities/...4xiDqsV1tE
But it's effect on the economy is unknown. Ending the tax cuts could impact it negatively. I propose that we increase revenue for vital programs by cutting spending. Not buy raising taxes just because it's not fair that rich people are rich. However, I am in favor of a progressive tax that prevents the middle class from paying higher effective rates than the rich.

“Whenever you find yourself on the side of the majority, it's time to pause and reflect.”

-Mark Twain
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16-04-2012, 01:18 PM
RE: Obama : Reagan a "wild-eyed, socialist, tax-hiking class warrior"
I'm pretty sure the Bush Tax Cuts increased the debt more than any of Bush's other policies combined. And we all know the effects the debt has had on the economy.


Cutting spending is one way to help, but you can't solve all problems that way. There is only so much you can get without doing serious damage. It takes a mix of reduced spending as well as revenue increases through taxes.
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16-04-2012, 01:25 PM
RE: Obama : Reagan a "wild-eyed, socialist, tax-hiking class warrior"
(16-04-2012 01:18 PM)MrGnawty Wrote:  I'm pretty sure the Bush Tax Cuts increased the debt more than any of Bush's other policies combined. And we all know the effects the debt has had on the economy.


Cutting spending is one way to help, but you can't solve all problems that way. There is only so much you can get without doing serious damage. It takes a mix of reduced spending as well as revenue increases through taxes.
Not just the U.S economy, but the global economy.

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