John Boehner Is Letting the Inmates Run the Asylum

And who in the hell do you think Obama is letting run goverment ? It damn sure isn't himself . I don't believe he could run a gas station . ( except into the ground )

TML of Ca. , republicans disingenuous ? Excuse me , ever heard of , pay go , 15 trillion in debt and growing , regulations and taxes either driving business out of the country or keeping people from risk taking , 44 million on food stamps ( grown by millions under Obama ) . Is this the road you want to keep going down ?

I wouldsay you are the disingenuous one along with most liberals and the news media .

Hunter of WI 8:01AM December 22, 2011

Marc:

If you watched Congress with an open mind, you would find that the dems are every bit as bad as the repubs, if not even much worse. The difference is that the majority of the media lets them get away with it.

Will this hurt the repubs? Possibly. But that, as always, depends on just how the media decides to frame it - if you look behind the headlines so far, the substance that they will ignore is that a 2 month extension will accomplish nothing other than more confusion on the part of businesses, and that the repub stance on insisting a 1 year extension was the correct move to make - even Obama wants it to be 1 year.

Reid and the dems knew that the 2 month bill was a gonner, but that is all that he would allow, knowing that any move by the House repubs against it would be great publicity for the dems.

Basically, sleazy politics as usual in Washington.

junior of DC 10:23PM December 21, 2011

" I'm sick of these Republicans who clearly have no agenda other than feeble, disingenuous attempts to make Obama and the Democrats look bad."

We do not have to do ANYTHING to make “Obama and the Democrats look bad”. Nov. 2, 2010 came about because they ignored the will of the people passing obumacare and all the other bills the polls was CLEARLY AGAINST. The gutless “Obama and the Democrats look bad” passing no budget due Oct. 1, 2010 when they had FULL CONTROL. Trying to blame Republican for possible closing of airports when we passed bill and Democrats sit on our bill. Democrats now SIT on what 25 bills TODAY.

That should be enough to show is themselves that make “Obama and the Democrats look bad”.

I think the Bum should have stepped down LONG AGO. You liberals see no problem jumping all over Bush's golf, YET obuma has surpassed amount of holes Bush did in 8 years. Something as important as more debt in a little over 2 years by obuma than 8 years of debt by Bush GETS A FREE PASS.

R.L. Schaefer of CA_ I warned you about repeating stuff you are ignorant of. Little economic lesson:

“Conservatives should be able to agree that the top 5% of income earners could afford 5% more in taxes and it wouldn't cost a single job”

“The Historical Lessons of Lower Tax Rates”

“There is a distinct pattern throughout American history: When tax rates are reduced, the economy's growth rate improves and living standards increase. Good tax policy has a number of interesting side effects. For instance, history tells us that tax revenues grow and "rich" taxpayers pay more tax when marginal tax rates are slashed. This means lower income citizens bear a lower share of the tax burden - a consequence that should lead class-warfare politicians to support lower tax rates.”

“Conversely, periods of higher tax rates are associated with sub par economic performance and stagnant tax revenues. In other words, when politicians attempt to "soak the rich," the rest of us take a bath. Examining the three major United States episodes of tax rate reductions can prove useful lessons”

The numbers in text of link.

http://www.heritage.org/research/reports/2003/08/the-historical-lessons-of-lower-tax-rates

“Guess Who Really Pays the Taxes”

1. “Are income taxes fair?”

“That depends on who is offering the opinion. Democratic candidates for president certainly don’t think so. John Edwards has said, “It’s time to restore fairness to a tax code that has been driven badly out of whack.” Hillary Clinton laments that “middle-class and working families are paying a much higher percentage of their income [in taxes].” Over the past seven years, however, Americans in general think taxes have become more fair, not less. The Gallup Organization found in an April poll that 60 percent of respondents believe the income taxes that they themselves pay are fair, com­pared with 37 percent who believe the taxes they pay are unfair. In 1997, the figures were 51 percent fair and 43 percent unfair.”

2. “What income group pays the most federal income taxes today?

The latest data show that a big portion of the federal income tax burden is shoul­dered by a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 per­cent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare.”

3.“But didn’t the Bush tax cuts favor the rich?”

“The New York Times reported recently that the average family in America with an income of $10 million or more received a half-million-dollar tax cut, while the middle class got crumbs (less than $100 shaved off their tax bill). If we examine the taxes paid in a static world—that is, if we assume that there was no change in behavior and economic performance as a result of the tax code—then these numbers are meaningful. Most of the tax cuts went to the super wealthy.”

“But Americans did respond to the tax cuts. There was more investment, more hiring by businesses, and a stronger stock market. When we compare the taxes paid under the old system with those paid after the Bush tax cuts, the rich are now actually paying a higher proportion of income taxes. The latest IRS data show an increase of more than $100 billion in tax payments from the wealthy by 2005 alone. The number of tax filers who claimed taxable income of more than $1 million increased from approximately 180,000 in 2003 to over 300,000 in 2005. The total taxes paid by these millionaire households rose by about 80 percent in two years, from $132 billion to $236 billion.”

4.“But haven’t the tax cuts put more of the burden on the backs of the middle class and the poor?”

“No. I examined the Treasury Department analysis of how much the rich would have paid without the Bush tax cuts and how much they actually did pay. The rich are now paying more than they would have paid, not less, after the Bush investment tax cuts. For example, the Treasury’s estimate was that the top 1 percent of earners would pay 31 percent of taxes if the Bush cuts did not go into effect; with the cuts, they actually paid 37 per­cent. Similarly, the share of the top 10 percent of earners was estimated at 63 percent without the cuts; they actually paid 68 percent.”

5.“What has happened to tax rates in America over the last several decades?”

“They’ve fallen. In the early 1960s, the highest marginal income tax rate was a stunning 91 percent. That top rate fell to 70 percent after the Kennedy-Johnson tax cuts and remained there until 1981. Then Ronald Reagan slashed it to 50 percent and ultimately to 28 percent after the 1986 Tax Reform Act. Although the federal tax rate fell by more than half, total tax receipts in the 1980s doubled from $517 billion in 1981 to $1,030 billion in 1990. The top tax rate rose slightly under George H. W. Bush and then moved to 39.6 percent under Bill Clinton. But under George W. Bush it fell again to 35 percent. So what’s striking is that, even as tax rates have fallen by half over the past quarter-century, taxes paid by the wealthy have increased. Lower tax rates have made the tax system more progressive, not less so. In 1980, for example, the top 5 percent of income earners paid only 37 percent of all income taxes. Today, the top 1 percent pay that proportion, and the top 5 percent pay a whopping 57 percent.”

6. “What is the economic logic behind these lower tax rates?

As legend has it, the famous “Laffer Curve” was first drawn by economist Arthur Laffer in 1974 on a cocktail napkin at a small dinner meeting attended by the late Wall Street Journal editor Robert Bartley and such high-powered policymakers as Richard Cheney and Donald Rumsfeld. Laffer showed how two different rates—one high and one low—could produce the same revenues, since the higher rate would discourage work and investment. The Laffer Curve helped launch Reaganomics here at home and ignited a frenzy of tax cutting around the globe that continues to this day. It’s also one of the simplest concepts in economics: lowering the tax rate on production, work, investment, and risk-taking will spur more of these activities and will often produce more tax revenue rather than less. Since the Reagan tax cuts, the United States has created some 40 million new jobs—more than all of Europe and Japan combined.

7.Are lower tax rates responsi­ble for the big budget deficits of recent decades?”

“There is no correlation between tax rates and deficits in recent U.S. history. The spike in the federal deficit in the 1980s was caused by massive spending increases.”

“The Congressional Budget Office reports that, since the 2003 tax cuts, federal revenues have grown by $745 billion—the largest real increase in history over such a short time period. Individual and corporate income tax receipts have jumped by 30 percent in the two years since the tax cuts.”

8.“Do the rich pay more taxes because they are earning more of the income in America?”

“Yes. There’s no doubt that the share of total income earned by the wealthy has increased steadily over the past 25 years. Since 1980, the share of income earned by the richest 1 percent has more than doubled, from 9 percent to 19 percent. The share of the income going to the poorest income quintile has declined. Income disparities, in absolute dollars, have grown substantially.”

“What is significant is that for the top 5 percent and 10 percent of earners, the ratio of taxes paid compared with income earned has risen. For example, in 1980, the top 10 percent earned 32 percent of the income and paid 44 percent of the taxes—a ratio of 1.4. In 2004, this group earned more of the income (44 percent) but paid a lot more of the taxes (68 percent)—a ratio of 1.6. In other words, progressivity—in terms of share of total taxes paid—has risen. On the other hand, for the top 1 percent of earners, progressivity has declined from a ratio of 2.2 in 1980 to 1.9 in 2004.”

9.“Have gains by the rich come at the expense of a declining living standard for the middle class?”

“No. If Bill Gates suddenly took his tens of billions of dollars and moved to France, income distribution in America would temporarily appear more equitable, even though no one would be better off. Median family income in America between 1980 and 2004 grew by 17 percent. The middle class (defined as those between the 40th and the 60th percentiles of income) isn’t falling behind or “disappearing.” It is getting richer. The lower income bound for the middle class has risen by about $12,000 (after inflation) since 1967. The upper income bound for the middle class is now roughly $68,000—some $23,000 higher than in 1967. Thus, a family in the 60th percentile has 50 percent more buying power than 30 years ago. To paraphrase John F. Kennedy, this has been a “rising tide” expansion, with most (though not all) boats lifted.”

10.“Does the tax distribu­tion look a lot different if we factor in other federal taxes, such as the payroll tax?”

“It’s true that the distribution of taxes is somewhat more equally divided when payroll taxes are accounted for—but the change is surprisingly small. Payroll taxes of 15 percent are charged on the first dollar of income earned by a worker, and most of the tax is capped at an income of just below $100,000. The Tax Policy Center, run by the Urban Institute and the Brookings Institution, recently studied payroll and income taxes paid by each income group. The richest 1 percent pay 27.5 percent of the combined burden, the top 20 percent pay 72 percent, and the bottom 20 percent pay just 0.4 percent. One reason that the disparity in tax shares is so large is that Americans in the bottom quintile who have jobs get reimbursed for some or all of their 15 percent payroll tax through the earned-income tax credit (EITC), a fairly efficient poverty-abatement program.”

11.“How do tax rates in the United States compare with tax rates abroad?”

“Overall, taxes are between 10 percent and 20 percent lower in the United States than they are in most other industrial nations. This gives America a competitive edge in world markets. But America’s lead in low tax rates is shrinking. For example, the United States now has the second-highest corporate income tax in the developed world, after Japan. Our personal income tax rate is still low by historical standards. But in recent years many European and Pacific Rim nations have been slashing income taxes—there are now ten Eastern European nations with flat-tax rates between 12 percent and 25 percent—while the political pressure in Washington, D.C., is to raise them.”

12.“Do tax cuts on investment income, such as George W. Bush’s reductions in tax rates on capital gains and dividends, pri­marily benefit wealthy stockowners?”

“The New York Times reported that America’s millionaires raked in 43 percent of the investment tax cut benefits in 2003. It’s true that lower tax rates have been a huge boon to shareholders—but most of them are not rich. The latest polls show that 52 percent of Americans own stock and thus benefit directly from lower capital gains and dividend taxes. Reduced tax rates on dividends also triggered a huge jump in the number of companies paying out dividends. As the National Bureau of Economic Research put it, “The surge in regular dividend payments after the 2003 reform is unprecedented in recent years.” Dividend income is up nearly 50 percent since the 2003 tax cut.”

“The same phenomenon occurred with the capital gains tax, which is essentially a voluntary tax because asset owners can avoid it by simply holding onto their stock, home, or business. This “lock-in” effect, as it is called, can be economically inefficient, since owners have a tax incentive to keep poor investments, rather than drawing out the cash and putting it into assets that are more productive. When the capital gains tax is cut, people unlock their assets and reinvest in other enterprises.”

“The 1997 tax reform, passed under President Clinton, reduced the capital gains tax rate from 28 percent to 20 percent, and taxable capital gains nearly doubled over the next three years. The 2003 reform brought the rate down to 15 percent, and between 2002 and 2005 there was a 154 percent increase in capital gains reported as income.”

“This explosion in realized gains cannot be explained only by the rise in the stock market, which averaged just 13 percent annually between 2003 and 2005. Capital gains tax receipts also far outpaced the revenues that the government’s static models predicted. Between 2003 and 2007, actual tax receipts exceeded expectations by $207 billion.”

http://www.american.com/archive/2007/november-december-magazine-contents/guess-who-really-pays-the-taxes

“The tax cuts of the 1920s”

“Tax rates were slashed dramatically during the 1920s, dropping from over 70 percent to less than 25 percent. What happened? Personal income tax revenues increased substantially during the 1920s, despite the reduction in rates. Revenues rose from $719 million in 1921 to $1164 million in 1928, an increase of more than 61 percent.”

“The Kennedy tax cuts”

“President Hoover dramatically increased tax rates in the 1930s and President Roosevelt compounded the damage by pushing marginal tax rates to more than 90 percent. Recognizing that high tax rates were hindering the economy, President Kennedy proposed across-the-board tax rate reductions that reduced the top tax rate from more than 90 percent down to 70 percent. What happened? Tax revenues climbed from $94 billion in 1961 to $153 billion in 1968, an increase of 62 percent (33 percent after adjusting for inflation).”

“According to President John F. Kennedy:”

“Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget just as it will never produce enough jobs or enough profits… In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.”

“The Reagan tax cuts”

“Thanks to "bracket creep," the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).”

“According to then-U.S. Representative Jack Kemp (R-NY), one of the chief architects of the Reagan tax cuts:”

“At some point, additional taxes so discourage the activity being taxed, such as working or investing, that they yield less revenue rather than more. There are, after all, two rates that yield the same amount of revenue: high tax rates on low production, or low rates on high production.”

2) “The rich pay more when incentives to hide income are reduced.”

“The tax cuts of the 1920s”

“The share of the tax burden paid by the rich rose dramatically as tax rates were reduced. The share of the tax burden borne by the rich (those making $50,000 and up in those days) climbed from 44.2 percent in 1921 to 78.4 percent in 1928.”

“The Kennedy tax cuts”

“Just as happened in the 1920s, the share of the income tax burden borne by the rich increased following the tax cuts. Tax collections from those making over $50,000 per year climbed by 57 percent between 1963 and 1966, while tax collections from those earning below $50,000 rose 11 percent. As a result, the rich saw their portion of the income tax burden climb from 11.6 percent to 15.1 percent.”

“The Reagan tax cuts”

“The share of income taxes paid by the top 10 percent of earners jumped significantly, climbing from 48.0 percent in 1981 to 57.2 percent in 1988. The top 1 percent saw their share of the income tax bill climb even more dramatically, from 17.6 percent in 1981 to 27.5 percent in 1988.”

http://www.heritage.org/research/reports/2003/08/the-historical-lessons-of-lower-tax-rates

Bill C.

“Debunking Liberal Myths About Tax Cuts and the Economy”

http://www.mtgriffith.com/web_documents/taxcutmyths.htm

Bush

“According to the non-partisan Congressional Budget Office (CBO), the Bush tax cuts actually shifted the total tax burden farther toward the rich so that in 2000-2004, total income tax paid by the top 40% of income-earners grew by 4.6% to 99.1% of the total.”

http://www.americanthinker.com/2010/03/lying_about_bushs_tax_cuts.html

Bill Hedges of MO 9:43PM December 21, 2011

Marc:

You need to learn to read.

The sentences in quotes were direct cun 'n paste from your previous post, part of which had the statement that McConnell supposedly said that his number one job was to get Obama RE-ELECTED.

That is NOT what McConnell said, as I correctly pointed out and you have now correctly quoted (rather belatedly) that he said his job was to make sure that Obama DID NOT get re-elected.

If you are going to protest something someone writes, at least get who wrote what correct, otherwise you look like a fool.

PS: When attempts to do something are "feeble", they are also usually very ineffective in accomplishing their goals. Since the Dems do indeed look pathetically bad - they haven't passed a budget for almost 3 years, they rammed through a bill that will control 16% of the national economy without even reading it, they rammed through a "stimulus" bill that was long on pork and short on actual stimulus, they have not abided by the "pay-go" pledge they made, they have not posted bills on line as promised, they have a completely corrupt Justice Department, etc, etc, etc - and have no one to blame but their own hyper-partisanship and total incompetence to blame for how stupid they look.

And unfortunately, posters like yourself who cannot even get their posts correct, are totally oblivious as to what BOTH sides of the aisle are doing, and instead chose to blame only one side.

It's no wonder that you are led around by your nose so easily.

junior of DC 5:44PM December 21, 2011