The Compromise - PeachParts Mercedes-Benz Forum

MS Fowler · #1 12-07-2010, 04:24 PM

By now you have all heard of the framework for a tax rate/unemployment compensation extension compromise announced by President Obama. Seems that both dems and repubs hate it.
What do you all think?

PaulC · #2 12-07-2010, 04:25 PM

If everyone hates it, then it's probably a reasonable plan...

#3 12-07-2010, 04:26 PM

Anything that is hated by both sides must have a little good in it someplace.

PaulC · #4 12-07-2010, 04:26 PM

"Hate is good." - Gordon Gecko

kip Foss · #5 12-07-2010, 04:43 PM

Like the poles about gays in the military the ones about what the population thinks is needed to get us out of the recession are completely and absolutely ignored by those in power. It seems that the Reps. are more interested in currying favor with the top 2% of the population than in trying to get workable legislation that might get the economy moving.

#6 12-07-2010, 04:52 PM

Quote:

Originally Posted by kip Foss

Like the poles about gays in the military the ones about what the population thinks is needed to get us out of the recession are completely and absolutely ignored by those in power. It seems that the Reps. are more interested in currying favor with the top 2% of the population than in trying to get workable legislation that might get the economy moving.

Of course, the american population rarely has a clue. These are the same folks who have 5 figure credit card debt and a negative savings rate. My cat is more qualified to give economic advice than most americans.

75Sv1 · #7 12-07-2010, 05:10 PM

Quote:

Originally Posted by Craig

Of course, the american population rarely has a clue. These are the same folks who have 5 figure credit card debt and a negative savings rate. My cat is more qualified to give economic advice than most americans.

So, that'swhere Catobert has been hiding.
Tom

LUVMBDiesels · #8 12-07-2010, 05:38 PM

Quote:

Originally Posted by PaulC

If everyone hates it, then it's probably a reasonable plan...

EXACTLY!

aklim · #9 12-07-2010, 05:49 PM

Doesn't matter what a President announces. Congress is the power behind the issue. If both sides cannot get pork out of it and have to make cuts, it probably won't work in this form.

engatwork · #10 12-07-2010, 05:53 PM

In my opinion the best thing they could do to stimulate the economy would be to give everyone a year of federal tax "holiday" meaning that folks would not have to pay any federal taxes during that time. This would provide folks with extra funds to spend.

Billybob · #11 12-07-2010, 06:05 PM

Quote:

Originally Posted by engatwork

In my opinion the best thing they could do to stimulate the economy would be to give everyone a year of federal tax "holiday" meaning that folks would not have to pay any federal taxes during that time. This would provide folks with extra funds to spend.

But that would "discriminate" against those who pay no federal income taxes! They would feel unequal and their self-esteem and the self-esteem of their children would cause irreparable negative impact preventing them from ever achieving their dreams and full potential!

pj67coll · #12 12-07-2010, 06:11 PM

Quote:

Originally Posted by Billybob

But that would "discriminate" against those who pay no federal income taxes! They would feel unequal and their self-esteem and the self-esteem of their children would cause irreparable negative impact preventing them from ever achieving their dreams and full potential!

Who the hell pays no federal income tax?

- Peter.

#13 12-07-2010, 06:25 PM

Quote:

Originally Posted by engatwork

In my opinion the best thing they could do to stimulate the economy would be to give everyone a year of federal tax "holiday" meaning that folks would not have to pay any federal taxes during that time. This would provide folks with extra funds to spend.

Good plan, except for increasing the national debt by about $2T dollars.

Billybob · #14 12-07-2010, 06:30 PM

Quote:

Originally Posted by pj67coll

Who the hell pays no federal income tax?

- Peter.

A very significant portion of the population, or have you not heard that?

This is a source that I suspect will not be too controversial!

"According to a 2007 report by the Statistics of Income division of the Internal Revenue Service, in 2006 the Internal Revenue Service received 134,372,678 individual income tax returns, of which 90,593,081 (67.42%) showed that they paid or owed federal income tax for 2005. That is, 32.58% of those Americans who filed income tax returns did not owe any federal income tax at all for 2005. This percentage increased substantially in 2008, and for 2009 was 47%."

Even the NYT found it impossible to deny: "As of 2006, according to New York Times columnist David Lionhardt, approximately 10% of Americans paid no net federal taxes "

http://en.wikipedia.org/wiki/Lucky_duckies