questionmark Posted October 26, 2011 #1 Share Posted October 26, 2011 (Reuters) - Democrats are proposing to slash huge U.S. budget deficits by up to $3 trillion, aiming high to repair the country's fiscal mess even as Republicans show early signs of resisting the proposals. The broad package of measures calls for long-term spending cuts, including to the government-run Medicare health program for the elderly that threatens to explode the U.S. national debt.The other half of the package would come from tax increases, four congressional aides told Reuters on Wednesday. Read more... Link to comment Share on other sites More sharing options...
tapirmusic Posted October 26, 2011 #2 Share Posted October 26, 2011 yawn... same old story from the left of the aisle... tax, tax, tax, tax, tax, tax......... Link to comment Share on other sites More sharing options...
Sir Wearer of Hats Posted October 26, 2011 #3 Share Posted October 26, 2011 You know what'll save you tonnes of money? Not being in Iraq. Link to comment Share on other sites More sharing options...
F3SS Posted October 26, 2011 #4 Share Posted October 26, 2011 yawn... same old story from the left of the aisle... tax, tax, tax, tax, tax, tax......... Yep, more taxes and more stimulus. We're sick of taxes and we're sick of spending. We need to kick these people in the as$, hard. I'm so sick of these people we hire doing only as they see fit. I really believe more and more that they think we work for them. Link to comment Share on other sites More sharing options...
F3SS Posted October 26, 2011 #5 Share Posted October 26, 2011 You know what'll save you tonnes of money? Not being in Iraq. yea and not giving companies like solyndra $500M on a whim and foreign car makers $500M to build $90K electric cars. There is a billion dollars right there. See how easy that was to find wasteful spending? Now imagine if you took your time or had access to the federal checkbook. I couldn't comprehend all the waste and bs you'd find in there. Link to comment Share on other sites More sharing options...
lightly Posted October 27, 2011 #6 Share Posted October 27, 2011 yea and not giving companies like solyndra $500M on a whim and foreign car makers $500M to build $90K electric cars. There is a billion dollars right there. See how easy that was to find wasteful spending? Now imagine if you took your time or had access to the federal checkbook. I couldn't comprehend all the waste and bs you'd find in there. I agree with you Is it for real.. in that, I think there should be a total separation of Business and State, in regard to government hand outs to business .. ANY BUSINESS. http://blogs.seattleweekly.com/dailyweekly/2011/06/soaring_to_new_heights_thanks.php Citizens for Tax Justice, a left-leaning pressure group advocating for higher corporate taxes and fewer loopholes, recently released a list of a dozen Fortune 500 companies that, between 2008 and 2010, actually made money on their federal tax returns. And guess what? Our very own Boeing made the cut! According to the analysis, Boeing made $9.7 billion in profit from 2008 to 2010, and got a net tax refund of $175 million over the same period, translating into a tax rate of negative 1.8 percent. The other 11 corporations included in the report are American Electric Power, DuPont, Exxon Mobil, FedEx, GE, Honeywell, IBM, United Technologies, Verizon, Wells Fargo, and Yahoo. Together, Citizens for Tax Justice asserts, these corporate behemoths, rather than paying taxes on their collective $171 billion in profit from 2008 to 2010, actually got 1.5 percent in tax refunds--$2.5 billion--from Uncle Sam. They also received $62.4 billion in tax subsidies. Link to comment Share on other sites More sharing options...
ninjadude Posted October 27, 2011 #7 Share Posted October 27, 2011 Yep, more taxes and more stimulus. We're sick of taxes and we're sick of spending. What more taxes? I don't see that in the proposal. And in fact, personal income taxes are the lowest in decades. How can you be sick of something that is already lower? Link to comment Share on other sites More sharing options...
ninjadude Posted October 27, 2011 #8 Share Posted October 27, 2011 yea and not giving companies like solyndra $500M on a whim and foreign car makers $500M to build $90K electric cars. There is no guarantee that a company will make it and be profitable. It's a risk. Solyndra was a Republican proposal and it failed. It was a small percentage of the amount loaned. I've already responded to another thread about the "foreign" car makers. Money will be spent in the US. Link to comment Share on other sites More sharing options...
Corp Posted October 27, 2011 #9 Share Posted October 27, 2011 The first paragraph says that half the savings would come from tax increases. Which of course will be rejected out of hand since increasing taxes seem to be on par with baby eating to some Link to comment Share on other sites More sharing options...
ninjadude Posted October 27, 2011 #10 Share Posted October 27, 2011 The first paragraph says that half the savings would come from tax increases. Which of course will be rejected out of hand since increasing taxes seem to be on par with baby eating to some yeah but then they don't go on to explain where those supposed tax increases would come from...personal? corp? sales? usage? excise? something else? In the details below, it doesn't say anything about tax increases. It could be someone is pulling someone's leg. It's a fools errand anyway. They will never agree and the "automatic" cuts will kick in. Somehow the Republicans will delay or soften the defense cuts that they keep screaming about. The Democratic plan proposes cutting the deficit by $2.5 trillion to $3 trillion and calls for between $200 billion and $300 billion in new stimulus spending to boost an ailing U.S. economy. It would be paid for with lower interest payments from reducing deficits.It also seeks around $400 billion in Medicare savings, with half coming in benefit cuts and the other half in cuts to healthcare providers. Link to comment Share on other sites More sharing options...
F3SS Posted October 28, 2011 #11 Share Posted October 28, 2011 (edited) There is no guarantee that a company will make it and be profitable. It's a risk. Solyndra was a Republican proposal and it failed. It was a small percentage of the amount loaned. I've already responded to another thread about the "foreign" car makers. Money will be spent in the US. So when did the people tell Obama it was ok for him to take a half billion dollar risk With our money on a start up company? Since when is it our governments business to stick their nose so far of the ass of private businesses? You know I don't give a hoot if it was the idea of an R or a D. In the end, one guy is in charge of the final say. $500 million is a lot of frigging money and it wasnt about the company. It was about the green agenda. And same with the cars. The green world is a noble idea but it's being pushed for all the wrong reasons and our tech just isn't there yet, efficiently at least. Leave to the private sector. We do things soooooo much better than the government! Same goes for the car company. Just what do you expect $90k+ electric cars that will sell like poisonous mushrooms to do for our economy at the cost of $500M?! Who the helll do you know with a Fisker? I never even heard of them before this. Edited October 28, 2011 by Is it for real Link to comment Share on other sites More sharing options...
WoIverine Posted October 28, 2011 #12 Share Posted October 28, 2011 Just wait until corporate taxes are increased, that's when things will really become a whole lot more fun! Link to comment Share on other sites More sharing options...
F3SS Posted October 28, 2011 #13 Share Posted October 28, 2011 Just wait until corporate taxes are increased, that's when things will really become a whole lot more fun! Yep, that'll bring the jobs. Link to comment Share on other sites More sharing options...
ninjadude Posted October 28, 2011 #14 Share Posted October 28, 2011 So when did the people tell Obama it was ok for him to take a half billion dollar risk With our money on a start up company? A search of the founding fathers of the US. It goes back to the very beginning of our nation. It has been done ever since. The government didn't decide to do this without precedent. And Obama didn't do it on his own, the Stimulus was passed by the Congress and the President. Alexander Hamilton, one of the nation's Founding Fathers and its first secretary of the treasury, advocated an economic development strategy in which the federal government would nurture infant industries by providing overt subsidies and imposing protective tariffs on imports. source Link to comment Share on other sites More sharing options...
Sir Wearer of Hats Posted October 29, 2011 #15 Share Posted October 29, 2011 Yep, that'll bring the jobs. If Corportations want to be treated as individuals for the purposes of buying politicans donating to politicial campaigns, then they should be treated as indivisuals when it comes to taxes as well Link to comment Share on other sites More sharing options...
Travelling Man Posted October 29, 2011 #16 Share Posted October 29, 2011 http://blogs.seattleweekly.com/dailyweekly/2011/06/soaring_to_new_heights_thanks.php Citizens for Tax Justice, a left-leaning pressure group advocating for higher corporate taxes and fewer loopholes, recently released a list of a dozen Fortune 500 companies that, between 2008 and 2010, actually made money on their federal tax returns. And guess what? Our very own Boeing made the cut! According to the analysis, Boeing made $9.7 billion in profit from 2008 to 2010, and got a net tax refund of $175 million over the same period, translating into a tax rate of negative 1.8 percent. This is a GREAT example of partial news reporting. Going over their own information, Boeing DID get just over $175 million dollars back over those three years. They PAID $22 BILLION dollars in taxes over the same time. The tax rate was NOT -1.8% - because they paid over 1000% more than that. The "math" the site used conveniently omits that fact. What they have done is akin to you paying $1000 in taxes and getting a $1 refund - and the site reports that you not only didn't pay taxes, you got money BACK! This isn't "left-leaning" - it's out-and-out lies. Link to comment Share on other sites More sharing options...
FurthurBB Posted October 29, 2011 #17 Share Posted October 29, 2011 Yep, that'll bring the jobs. They already have money for jobs, there is no money for people to buy anything. Unless you are ultra wealthy, sticking it to the middle class is equivalent to sticking it to yourself. Germany actually makes their companies pay the taxes on the books, unlike the US, and companies are moving there and creating jobs. I kind of imagine you don't even understand why. Link to comment Share on other sites More sharing options...
FurthurBB Posted October 29, 2011 #18 Share Posted October 29, 2011 A search of the founding fathers of the US. It goes back to the very beginning of our nation. It has been done ever since. The government didn't decide to do this without precedent. And Obama didn't do it on his own, the Stimulus was passed by the Congress and the President. Alexander Hamilton, one of the nation's Founding Fathers and its first secretary of the treasury, advocated an economic development strategy in which the federal government would nurture infant industries by providing overt subsidies and imposing protective tariffs on imports. source Really, this is probably 2,000 ft above most of these people's heads. They are too lazy to find out the truth and let people deceive them into destroying their own future. They got the real elite who want to protect their money telling them that nurses, teachers, and scientists are really the elite and they buy it. Until we can stop that nonsense, we are not going to be getting anywhere economically any time soon. Link to comment Share on other sites More sharing options...
FurthurBB Posted October 29, 2011 #19 Share Posted October 29, 2011 (edited) This is a GREAT example of partial news reporting. Going over their own information, Boeing DID get just over $175 million dollars back over those three years. They PAID $22 BILLION dollars in taxes over the same time. The tax rate was NOT -1.8% - because they paid over 1000% more than that. The "math" the site used conveniently omits that fact. What they have done is akin to you paying $1000 in taxes and getting a $1 refund - and the site reports that you not only didn't pay taxes, you got money BACK! This isn't "left-leaning" - it's out-and-out lies. Information from blogs is usually pretty unreliable, but there are companies who pay no taxes by moving money all around. That could be tightened a lot. Oh, and not to mention, it should be illegal for a large company to invest in a new company while they are being sued and put all the liability on that company when they lose and that company files for bankruptcy. If an individual tried to pull that, it would be fraud, but when companies like Monsanto do that, it is a good business practice. Edited October 29, 2011 by FurthurBB Link to comment Share on other sites More sharing options...
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