Welcome, Guest. Please login or register.
Did you miss your activation email?
July 30, 2014, 06:17:34 pm
HomePredMockPollEVCalcAFEWIKIHelpLogin Register
News: Don't forget to get your 2013 Gubernatorial Endorsements and Predictions in!

+  Atlas Forum
|-+  General Politics
| |-+  Economics (Moderator: ag)
| | |-+  CNN:Schumer calls Bowles-Simpson 'trap' for middle class
« previous next »
Pages: [1] Print
Author Topic: CNN:Schumer calls Bowles-Simpson 'trap' for middle class  (Read 517 times)
IBDD W#461
1236
YaBB God
*****
Posts: 1684
United States


View Profile WWW
« on: October 10, 2012, 12:24:30 pm »
Ignore

http://money.cnn.com/2012/10/09/news/schumer-bowles-simpson/index.html
Logged

Great ambition is the passion of a great character. Those endowed with it may perform very good or very bad acts. All depends on the principles which direct them.-Napoleon Bonaparte

Ones reputation is like a shadow, it is gigantic when it precedes you, and a pigmy in proportion when it follows.- Charles Maurice de Talleyrand-Périgord


The world isnt always black and white
Link
YaBB God
*****
Posts: 3464
View Profile
« Reply #1 on: October 10, 2012, 03:48:56 pm »
Ignore

Then I'll put Schumer on ignore.
Logged

Insane quote of the year-

"Every aspect of life in America is worse than when he [Obama] took over" -Marco Rubio
A.G. Snowstalker
Snowstalker
YaBB God
*****
Posts: 16981
Palestinian Territory, Occupied


Political Matrix
E: -8.06, S: -4.96

View Profile
« Reply #2 on: October 10, 2012, 06:54:02 pm »
Ignore

He's right.
Logged

Maxy
mah519
YaBB God
*****
Posts: 11541
Germany


View Profile
« Reply #3 on: October 26, 2012, 10:29:50 pm »
Ignore

Simpson-Bowles is terrible, but Schumer probably dislikes it for the opposite reasons I do.
Logged

Scottish Robb Stark
Antonio V
YaBB God
*****
Posts: 30243
France


View Profile
« Reply #4 on: October 26, 2012, 11:25:30 pm »
Ignore

Finally someone speaks out against it! For Pete's sake, if Obama is reelected and democrats make gains in Congress, and this crap ends up being implemented, I think it'd be time to lose any hopes about the Democratic Party.
Logged



Robb of the House Stark, First of his Name, Lord of Winterfell and King in the North



Quote from: IRC
22:15   ComradeSibboleth   this is all extremely terrible and in all respects absolutely fycking dire.

"A reformist is someone who realizes that, when you bang your head on a wall, it's the head that breaks rather than the wall."

Peppino, from the movie Baaria
Sbane
sbane
YaBB God
*****
Posts: 13355


View Profile
« Reply #5 on: October 26, 2012, 11:37:00 pm »
Ignore

Simpson Bowles is a good starting point. Instead of lowering the top rate down to 23%, lower it less while lowering it more for the middle and working class.
Logged
© tweed
Miamiu1027
YaBB God
*****
Posts: 35402
United States


Political Matrix
E: -8.52, S: -8.00

View Profile
« Reply #6 on: October 27, 2012, 04:38:19 am »
Ignore

Charles Schumer is a trap
Logged
Zioneer
PioneerProgress
YaBB God
*****
Posts: 3858
United States


View Profile
« Reply #7 on: October 27, 2012, 10:06:17 am »
Ignore

He's right.
Logged
Maxy
mah519
YaBB God
*****
Posts: 11541
Germany


View Profile
« Reply #8 on: October 28, 2012, 12:11:14 am »
Ignore

I am not a class warfare guy, but the 15 cent per gallon Gasoline Tax would've disproportional hit the poor while cutting corporate tax rates would've put our tax code into a complete tops turvy, where we most definitely need simplification.
Logged

Senator DC
DC Al Fine
YaBB God
*****
Posts: 6900
Canada


View Profile
« Reply #9 on: October 28, 2012, 07:58:55 am »
Ignore

I am not a class warfare guy, but the 15 cent per gallon Gasoline Tax would've disproportional hit the poor while cutting corporate tax rates would've put our tax code into a complete tops turvy, where we most definitely need simplification.
Logged

Economic: 3.1
Social: 2.78

Quote from: Don Colacho
The Gospels and the Communist Manifesto are on the wane; the world’s future lies in the power of Coca-Cola and pornography.
anvi
anvikshiki
YaBB God
*****
Posts: 3740
Canada


Political Matrix
E: -1.03, S: -1.22

View Profile
« Reply #10 on: October 30, 2012, 06:17:26 pm »
Ignore

Haven't looked at this board for a while so only peeked at this thread today.  Schumer is wrong.  If you lower top marginal rates to amounts higher than where the effective rates are now, plus cut out deductions and loopholes, you are actually raising net revenues.  That's precisely why McConnell is calling the Simpson-Bowles plan a tax hike--because it is.  Except that the "job-killing" part of the charge is not entirely fair, since cutting out deductions and loopholes incentivizes businesses to invest their remaining revenue toward market opportunities instead of wrapping them around the tax code, and it also significantly marginalizes the lobbying establishment.  But the revenue-raising part is essential--you just can't deal with a $16 trillion debt and continuing spending commitments in the face of health care cost inflation and not raise revenues.  Anything else risks economic damage in the form of steadily increasing interest rates and less confidence in the long run that would hurt the economy much more than the effectively upwardly adjusted tax rates.  And, just in case the middle class thinks they can get off scott free, if they want to keep their social insurance programs, they have to kick in more money too. 
Logged

Jacobtm
YaBB God
*****
Posts: 3054


View Profile
« Reply #11 on: October 30, 2012, 11:19:12 pm »
Ignore

Schumer is right.

We are not going to default.

Our economy needs more stimulus.

We have reached a new equilibrium with a large chunk of society unemployed. The private sector is sitting on more cash than it has in recent memory, yet they are not hiring.

It is the perfect opportunity for government spending to make a difference, especially with borrowing rates essentially at zero %.

We need massive upgrades to our infrastructure, we could easily start there.

Defecit reduction right now would just throw us back into a recession.
Logged

Why do so many people here cheer on war crimes?
Israel and the United States "killing dozens of civilians with explosives", as you phrase it, has, throughout history, almost always been a good thing.
Pages: [1] Print 
« previous next »
Jump to:  


Login with username, password and session length

Logout

Powered by SMF 1.1.19 | SMF © 2013, Simple Machines