tag:blogger.com,1999:blog-8345424759983684844.post5402435555633424335..comments2024-01-23T08:29:37.538-05:00Comments on DC Dispatches: The Debt Crisis and Deficit Elimination - raising tax rates is not a bad idea!Philip H.http://www.blogger.com/profile/12049875206738422083noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-8345424759983684844.post-70930177787491410442011-04-14T14:23:51.570-05:002011-04-14T14:23:51.570-05:00Here's another perspective on the issue:
http:...Here's another perspective on the issue:<br />http://www.salon.com/news/politics/war_room/2011/04/14/obama_budget_income_inequality/index.htmlPhilip H.https://www.blogger.com/profile/12049875206738422083noreply@blogger.comtag:blogger.com,1999:blog-8345424759983684844.post-30242833100229279842011-04-14T09:14:33.672-05:002011-04-14T09:14:33.672-05:00But the Left is also protecting a lot of loopholes...But the Left is also protecting a lot of loopholes for the middle class. The effective tax rate for the middle class is well below the actual rate as well. How many billions (trillions?) in tax obligation is being evaded by the middle?Mike Dwyerhttps://www.blogger.com/profile/00741136015944133141noreply@blogger.comtag:blogger.com,1999:blog-8345424759983684844.post-88435473041612818592011-04-14T09:11:20.159-05:002011-04-14T09:11:20.159-05:00then you need to run for office. I'm saying t...then you need to run for office. I'm saying that to needle you or be factious, but the actual voting and policy record of your Party is one that protects loopholes for business and certain income segments. I have seen nothing from them in recent days that suggests they will abandon those approaches.Philip H.https://www.blogger.com/profile/12049875206738422083noreply@blogger.comtag:blogger.com,1999:blog-8345424759983684844.post-25181829909702412492011-04-13T13:51:39.627-05:002011-04-13T13:51:39.627-05:00Well it's as I said yesterday - I refuse to ac...Well it's as I said yesterday - I refuse to accept the premise that we can't close all of the loopholes. I think that coupled with true spending cuts in non-discretionary areas would get us where we need to be.Mike Dwyerhttps://www.blogger.com/profile/00741136015944133141noreply@blogger.comtag:blogger.com,1999:blog-8345424759983684844.post-16492279983286802582011-04-13T13:38:09.583-05:002011-04-13T13:38:09.583-05:00it would be, but the biggest total I can find is $...it would be, but the biggest total I can find is $1Trillion - and I think that is too high. Even if we could raise that much money, I think there would still be two problems - first we'd still be short between $300 Billion and $600 Billion just for this year, and more in future years; and second, I believe history shows us that certain segments of the American economy will actively fight Philip H.https://www.blogger.com/profile/12049875206738422083noreply@blogger.comtag:blogger.com,1999:blog-8345424759983684844.post-76385383252941821612011-04-13T12:58:18.912-05:002011-04-13T12:58:18.912-05:00I wonder, how many of those at the top who are hor...I wonder, how many of those at the top who are hording all of that money are actually heads of sub-chapter S corporations and LLCs reporting their profits as personal income due to changes in the tax code? <br /><br />Also, if we can get to fiscal solvency by simply closing the loopholes in our <i>existing</i> tax code, isn't that enough?Mike Dwyerhttps://www.blogger.com/profile/00741136015944133141noreply@blogger.com