BUSH TAX CUTS NEED TO BE PERMANENT!

[aussiewench 9]

Actually I'd quite like to see increased regulation of the health insurance industry. That would solve a lot of the problems right there.

AGREED damn never thought that would happen

Edited November 10, 2006 by aussiewench

[Carol&Marc 0]

Actually I'd quite like to see increased regulation of the health insurance industry. That would solve a lot of the problems right there.

AGREED damn never thought that would happen

You the woman....Wenchie......I like PEACE TOO! believe it or not. Now put that pencil away!

Edited November 10, 2006 by Carol&Marc

[yogib37 3]

Explain to me why two people can queue up at the pharmacy and pay wildly different prices for the same prescription drug. Noone can seem to answer that convincingly.

Because they have different insurance companies or different types of coverage?

Clearly - but who determines what is an acceptable price for drug X?

As I said you only need look at the cost of foreign researched drugs to see the disparity. The government stopped people buying prescription medications from Canada, essentially forcing US Citizens to pay vastly inflated prices. Who's interests are served by that - try convincing the guy that must now pay $150 for something he could have got for a tenth of the price.

And it is the same drug.. The reason goverment stop people buying drugs from Canada is that the drug company's lobby for it.. It is just to protect their profits and such..

Take care

[Mr. Big Dog 10,747]

Holy #######! We might come close to agreeing on somehting Steven. However, Social Security and Medicare is not federal income tax.

When you look at tax rates after the Bush tax cuts it is clear to see the lowest income Americans got the biggest tax rate reduction and the highest income Americans received the least rate reduction. I mean look at this will you?

The top 10% had an average income of $260,000 with 37.6% of all income, paid 50.2% of all federal taxes, with an average federal tax rate of 26.8% and after tax income of $190,400.

The bottom 20% had an average income of $14,800 with 4.2% of total income, receive 5.9% from federal income taxes (they get EITC which is a negative tax) and paid 1% of all federal taxes, for an average tax rate of 4.8% and an average after-tax income of $14,100.

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

I don't see how people can say that this was just a tax cut for the rich when obvoiusly the numbers prove it was not. I do see how some liberals manipulate the math to make it look that way to dupe people. THE TOP 10% PAY MORE THAN HALF OF ALL FEDERAL INCOME TAX!! I mean that still astounds me. And yet we have liberals saying that is not enough. That it's just not fair. Then the lowest income people not only do not pay income tax, THE LOWEST INCOME PEOPLE RECEIVE 5.9% OF FEDERAL INCOME TAX!!

The income tax is only one piece in the tax jungle, though. Take all taxes that people pay, combine them and then take a look at what percentage of the income the various income brackets actually pay in taxes. The picture will look a heck of a lot different then. You would find that the taxation rate gap closes dramatically when looking at the full picture. Should that not be part of the consideration? I think it should. And I think there ought to be one flat tax rate applied to every dollar made above the poverty line. No loopholes, no write-off's. All other taxes ought to be put away with.

[Saddle Bronc 124]

Holy #######! We might come close to agreeing on somehting Steven. However, Social Security and Medicare is not federal income tax.

When you look at tax rates after the Bush tax cuts it is clear to see the lowest income Americans got the biggest tax rate reduction and the highest income Americans received the least rate reduction. I mean look at this will you?

The top 10% had an average income of $260,000 with 37.6% of all income, paid 50.2% of all federal taxes, with an average federal tax rate of 26.8% and after tax income of $190,400.

The bottom 20% had an average income of $14,800 with 4.2% of total income, receive 5.9% from federal income taxes (they get EITC which is a negative tax) and paid 1% of all federal taxes, for an average tax rate of 4.8% and an average after-tax income of $14,100.

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

I don't see how people can say that this was just a tax cut for the rich when obvoiusly the numbers prove it was not. I do see how some liberals manipulate the math to make it look that way to dupe people. THE TOP 10% PAY MORE THAN HALF OF ALL FEDERAL INCOME TAX!! I mean that still astounds me. And yet we have liberals saying that is not enough. That it's just not fair. Then the lowest income people not only do not pay income tax, THE LOWEST INCOME PEOPLE RECEIVE 5.9% OF FEDERAL INCOME TAX!!

The income tax is only one piece in the tax jungle, though. Take all taxes that people pay, combine them and then take a look at what percentage of the income the various income brackets actually pay in taxes. The picture will look a heck of a lot different then. You would find that the taxation rate gap closes dramatically when looking at the full picture. Should that not be part of the consideration? I think it should. And I think there ought to be one flat tax rate applied to every dollar made above the poverty line. No loopholes, no write-off's. All other taxes ought to be put away with.

How about a flat-rate SALES-TAX (exclusive, no property/income/etc taxes) on nonfood items?

[Mr. Big Dog 10,747]

Holy #######! We might come close to agreeing on somehting Steven. However, Social Security and Medicare is not federal income tax.

When you look at tax rates after the Bush tax cuts it is clear to see the lowest income Americans got the biggest tax rate reduction and the highest income Americans received the least rate reduction. I mean look at this will you?

The top 10% had an average income of $260,000 with 37.6% of all income, paid 50.2% of all federal taxes, with an average federal tax rate of 26.8% and after tax income of $190,400.

The bottom 20% had an average income of $14,800 with 4.2% of total income, receive 5.9% from federal income taxes (they get EITC which is a negative tax) and paid 1% of all federal taxes, for an average tax rate of 4.8% and an average after-tax income of $14,100.

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

I don't see how people can say that this was just a tax cut for the rich when obvoiusly the numbers prove it was not. I do see how some liberals manipulate the math to make it look that way to dupe people. THE TOP 10% PAY MORE THAN HALF OF ALL FEDERAL INCOME TAX!! I mean that still astounds me. And yet we have liberals saying that is not enough. That it's just not fair. Then the lowest income people not only do not pay income tax, THE LOWEST INCOME PEOPLE RECEIVE 5.9% OF FEDERAL INCOME TAX!!

The income tax is only one piece in the tax jungle, though. Take all taxes that people pay, combine them and then take a look at what percentage of the income the various income brackets actually pay in taxes. The picture will look a heck of a lot different then. You would find that the taxation rate gap closes dramatically when looking at the full picture. Should that not be part of the consideration? I think it should. And I think there ought to be one flat tax rate applied to every dollar made above the poverty line. No loopholes, no write-off's. All other taxes ought to be put away with.

How about a flat-rate SALES-TAX (exclusive, no property/income/etc taxes) on nonfood items?

Don't like it. Sales tax is effectively a regressive tax.

Edited November 10, 2006 by ET-US2004

[Saddle Bronc 124]

The income tax is only one piece in the tax jungle, though. Take all taxes that people pay, combine them and then take a look at what percentage of the income the various income brackets actually pay in taxes. The picture will look a heck of a lot different then. You would find that the taxation rate gap closes dramatically when looking at the full picture. Should that not be part of the consideration? I think it should. And I think there ought to be one flat tax rate applied to every dollar made above the poverty line. No loopholes, no write-off's. All other taxes ought to be put away with.

How about a flat-rate SALES-TAX (exclusive, no property/income/etc taxes) on nonfood items?

Don't like it. Sales tax is effectively a regressive tax.

You do know that financial consultants will tell you that your idea is already in vogue at IRS, and that it's known as the "2-step" form:

1. calculate taxable income
   
2. enclose cheque for above amount
   

[dani_christine 0]

The tax cuts are about the only thing Bush has done right. If he lets those get rolled back , his presidency will be a total loss as far as I'm concerned.

I agree he has to veto any attempt to roll them back. I can't imagine the Dems would be stupid enough to try and get them rolled back. But who knows.

when it comes to taxes...here's what we have to look forward to in the next two years:

Nancy Pelosi on Tax Reform

* Voted NO on retaining reduced taxes on capital gains & dividends. (Dec 2005)

* Voted NO on providing tax relief and simplification. (Sep 2004)

* Voted NO on making permanent an increase in the child tax credit. (May 2004)

* Voted NO on permanently eliminating the marriage penalty. (Apr 2004)

* Voted NO on making the Bush tax cuts permanent. (Apr 2002)

* Voted NO on $99 B economic stimulus: capital gains & income tax cuts. (Oct 2001)

* Voted NO on Tax cut package of $958 B over 10 years. (May 2001)

* Voted NO on eliminating the Estate Tax ("death tax"). (Apr 2001)

* Voted NO on eliminating the "marriage penalty". (Jul 2000)

* Voted NO on $46 billion in tax cuts for small business. (Mar 2000)

* American People's Dividend: Give $300 to every person. (Feb 2001)

* Rated 21% by NTU, indicating a "Big Spender" on tax votes. (Dec 2003)

* Tax incentives for child care; eliminate marriage penalty. (Jul 1999)

* Tax incentives for education, new schools, & families. (Jul 1999)

Nancy Pelosi on Welfare & Poverty

* Voted YES on providing $70 million for Section 8 Housing vouchers. (Jun 2006)

* Voted NO on promoting work and marriage among TANF recipients. (Feb 2003)

* Voted NO on treating religious organizations equally for tax breaks. (Jul 2001)

* Voted NO on responsible fatherhood via faith-based organizations. (Nov 1999)

* Reduce the concentration of wealth & wage inequality. (Nov 1999)

Nancy Pelosi on Social Security

* Voted YES on raising 401(k) limits & making pension plans more portable. (May 2001)

* Voted NO on reducing tax payments on Social Security benefits. (Jul 2000)

* Rated 100% by the ARA, indicating a pro-senior voting record. (Dec 2003)

* Supported pension reform and tax credits for long-term care. (Jul 1999)

and just for interest...

Nancy Pelosi on Immigration

* Voted NO on preventing tipping off Mexicans about Minuteman Project. (Jun 2006)

* Voted NO on reporting illegal aliens who receive hospital treatment. (May 2004)

* Voted YES on extending Immigrant Residency rules. (May 2001)

* Voted YES on more immigrant visas for skilled workers. (Sep 1998)

* Rated 0% by FAIR, indicating a voting record loosening immigration. (Dec 2003)

source