Republicans invariably claim that Democrats want to raise your taxes, but Republicans want to give you a tax cut. Both claims are lies. In fact Obama and the Democrats have cut taxes for the 99% more than Bush ever did. The truth here is that Obama and the Democrats want to cut your taxes and raise taxes only on millionaires and billionaires. Conversely Republicans want to raise your taxes and cut them for millionaires and billionaires. The dirt is in the details.
House Republicans next week intend to vote on a plan that would both extend all of the Bush tax cuts — including those on income in excess of $250,000 — and fast-track “tax reform.” If the House GOP bill were adopted, tax reform legislation would “have special protections in the U.S. Senate [Murdoch delinked], limiting the opportunities for lawmakers to use blocking tactics.”
But the GOP bill only calls for a certain kind of tax reform — specifically that which would benefit the rich and corporations. Under the GOP’s fast-track approach, a tax reform bill would have to consist of:
(1) a consolidation of the current 6 individual income tax brackets into not more than two brackets of 10 and not more than 25 percent;
(2) a reduction in the corporate tax rate to not greater than 25 percent;
(3) a repeal of the Alternative Minimum Tax;
(4) a broadening of the tax base to maintain revenue between 18 and 19 percent of the economy; and
(5) a change from a ‘‘worldwide’’ to a ‘‘territorial’’ system of taxation.
As Citizens for Tax Justice noted, these changes would massively benefit the wealthy and corporations, shifting the tax burden down the income scale. In fact, consolidation of the tax code in the way the GOP envisions would give millionaires a $187,000 annual tax cut, while likely increasing taxes on the middle-class and working families, due to the elimination of deductions upon which they depend… [emphasis added]
Inserted from <Think Progress>
Picture credit: Think Progress
I’ve said it before, and I know I’ll say it again. Republicans govern exclusively for the benefit of millionaires, billionaires and corporate criminals.They do NOT represent YOU!
19 Responses to “Republicans Still Want to Raise YOUR Taxes”
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"I’ve said it before, and I know I’ll say it again. Republicans govern exclusively for the benefit of millionaires, billionaires and corporate criminals.They do NOT represent YOU!"
I am the 99%….
Yes indeed—-no need to add- You said it well TC .
Thank you both.
But of course, all taxes are redistributive, in that they redistribute private resources for public purposes. But that only reflects the common sense truism that the wealthy have a proportionately greater stake in the material aspects of the social order, and so should be glad to provide that order proportionately more material support.
A homeowner who owns a $1 million home will pay more for insurance than will the owner of a $200,000 home. But the insurance company is not penalizing the first homeowner for his/her success. It’s only because that first homeowner clearly has more to lose, and therefore should pay more. If the core function of government is to provide a stable environment in which our society can flourish, then clearly the wealthy have more to lose from government's absence – and so should pay more in taxes.
Well said Nameless! Perfect sense. I wonder why Republican/Teabaggers can't see it? (rhetorical question)
That's exactly right. The rich get more services from the government.
Why is it that every time Obama cuts taxes, it's a temporary tax cut? If you guys want so much credit for cutting taxes, make them permanent. And actually, ONLY <a target="_blank" href'="http://heathenrepublican.blogspot.com/2012/07/just-reminder-obama-wants-to-raise.html">Democrats want to raise taxes</a>. Any tax reform proposed by Republicans would lower tax rates overall and would be revenue neutral. And they want everyone to pay their fair share, so that means some of the 47% who pay zero income tax would be brought back into the fold, but overall tax levels go down with Republican plans. Unlike Democrats.
No use presenting FACTS (they have such a LIBERAL bias) to disprove your BS – you're clearly immune to them.
But do get back to us when you have some way to guarantee that all those Repubican MILLIONAIRES and BILLIONAIRES and CORPORATIONS-ARE-PEOPLE-MY-FRIEND who pay ZERO tax now will "be brought back into the fold".
Do you never get tired of repeating these stupid, easily disproven talking points?
Extract your head from the bowels of Boortz, go learn something, and then come back, so we can have a debate. There is no arguing about the tripe you post; we might as well be arguing about why the sun at high noon is purple.
Why not make it revenue neutral by raising the rates at the top end and lowering the rates at the low end, rather than the other way around?
I doubt that you want an answer but I will provide one.
First, there is no such thing as a permanent tax rate. All tax rates last only until they are changed.
Second, how you can blame Obama for temporary tax cuts, when the Bush Tax cuts included an expiration date?
Third, Obama and the Democrats did propose a permanent fix for the Alternative Minimum, tax. Republicans blocked it.
Fourth, Republicans refused to agree to more extended tax cuts for the poor and middle classes unless coupled with much bigger tax cuts for the super rich.
If I may suggest, before you parrot Republican lies, it might help to actually know the subject.
You said it right, TC. Thank You.
YVW, Gypsy and thank you.
I'll go ahead and say it. Above a certain amount of money, you simply can't be said to have earned it. You have acquired it. And I don't think you have a right to it. Go ahead and make that certain amount of money obscenely high–after that taxes should be flat-out confiscatory. If you can tell the difference between living on a billion dollars or two billion dollars, you have no moral standing.
Murr, I mostly agree, but there is just something about take it all that doesn't sit right with me. I would have no problem, however, at taxing income over $1 billion at 95%
So, according to the Ryan plan, if your income is $9,999 your annual tax bill will go UP $200. But if your annual income is $100,000 your annual tax bill will go DOWN by $2,500. And if your annual income is $1,000,000 your tax bill will go DOWN by $88,000.
That $200 per year increase represents a month without groceries!
That $2,500 per year decrease in taxes means that this individual could afford to buy groceries for 12 people for a month!
And that $88,000 per year decrease in taxes means that this individual could afford to buy groceries for 440 people for a month.
And that's just the tax adjustment! Does everyone else see the obscenity in this?
I like Nameless's take on the situation — the richer the person, the more he has to lose, so the more he should have to pay in taxes to keep his lifestyle safe.
Vote Democratic 2012!!!!! Vote Obama/Biden 2012!!!!!
You understand it perfectly.
What really gets me about these rich jerks is they come home and have their "open door" meetings with their constituents and lie to our faces about why they vote for the benefit of the millionaires. They have absolutely no scruples!
Well, Patty, if they told the truth, nobody would vote for them.