Republican Jobs Bill: Tax Cuts! - Polidicks

[url=http://crooksandliars.com/susie-madrak/republican-jobs-bill-harder-longer-fa]Source[/url] [url=http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.5029:]The Bill[/url] [release]Remember: If at first you don't succeed, just do it a lot harder the next time! Come on, admit it. You're surprised, aren't you? I am, too -- that during this devastating recession, the Republicans still have the cojones to offer public lap dances to their wealthiest contributors: [quote] After opposing, stalling, stonewalling and filibustering almost every recession-related bill for the past year, Republican lawmakers have finally proposed a jobs plan of their own: [b]a bigger, more expensive version of George W. Bush's tax cuts for the rich.[/b] The Economic Freedom Act of 2010 -- introduced by Reps. Jim Jordan (R-Ohio) and Jason Chaffetz (R-Utah) -- proposes d[b]eep tax cuts favoring the wealthiest in America, a reduction in regulatory oversight and the elimination of a federal tax on the estates of millionaires,[/b] which will allow wealthy investors to escape taxes entirely on a significant portion of their income. Republicans say the bill will create jobs where President Obama's policies have failed to do so. "The multi-trillion dollar government stimulus programs and taxpayer-funded bailouts have failed," reads the bill's official press release. "A growing private sector economy is the only 'stimulus program' that will create the jobs needed to restore America's economic strength." House Majority Leader Steny Hoyer (D-Md.) said in a conference call on Tuesday that the GOP's proposal will not only fail to stimulate job growth, but will triple the deficit by 2015 and devastate an already-shrinking American middle class. "The tax cuts they want to give, as usual under Republican policies, will give 62 percent of the tax cuts to the top 1 percent of Americans," Hoyer said. "Or said another way, an average $467 tax cut to working Americans in the middle of the income levels, and to the top 1 percent earners, an average of $157,000 tax cut, and to Goldman Sachs, $2.6 billion in tax cuts. When you analyze that, you know what is happening is the same old Bush policies of advantaging the wealthy at the expense of the middle income working people and tax cuts which did not, as they were advertised to, grow the economy and grow jobs. In fact, they did just the opposite." Michael Linden, associate director for tax and budget policy at the Center for American Progress Action Fund, said the Republican proposal is "unaffordable on a level we've never seen before."[/quote][/release] Additional links totally worth checking out: [url]http://www.taxfoundation.org/podcast/show/26343.html[/url]

I'm not surprised...just more stupid from stupid people

It hasn't even been voted on, you guys act like every bill that comes up passes. Also your source doesn't seem reliable. Also your threads are shitting up the news section.

The best way to get out of debt... TAX CUTS!

Biased source much? Anyways, it may work if it passes. Given that the excess money is put to job creation.

[QUOTE=Mr_Razzums;23863650]It hasn't even been voted on, you guys act like every bill that comes up passes. Also your source doesn't seem reliable. Also your threads are shitting up the news section.[/QUOTE] 1) I know that. It just seems remarkably pathetic that after all this filibustering that this is the best they can come up with. 2+3) Oh noooo

The rich hire the middle. More tax cuts there means more jobs. Source is bias too.

I put the bill in the OP so you guys could judge for yourselves and not be influenced by the biased article jeez.

This bill is good, it also has tax cuts for employees. [quote=H.R. 5029][B] SEC. 6. PAYROLL TAX DECREASE FOR 2010.[/B] [LIST] [*](a) Employees- Section 3101 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: [/LIST] [LIST] [*]`(d) Reduction in Tax Rate for 2010- In the case of wages received during calendar year 2010-- [/LIST] [LIST] [*] [LIST] [*]`(1) subsection (a) shall be applied by substituting `3.1 percent' for `6.2 percent' in the table contained therein, and [/LIST] [/LIST] [LIST] [*] [LIST] [*]`(2) subsection (b) shall be applied by substituting `0.725 percent' for `1.45 percent' in paragraph (6) thereof.'. [/LIST] [/LIST] [LIST] [*](b) Employers- Section 3111 of such Code is amended by adding at the end the following new subsection: [/LIST] [LIST] [*]`(d) Reduction in Tax Rate for 2010- In the case of wages paid during calendar year 2010-- [/LIST] [LIST] [*] [LIST] [*]`(1) subsection (a) shall be applied by substituting `3.1 percent' for `6.2 percent' in the table contained therein, and [/LIST] [/LIST] [LIST] [*] [LIST] [*]`(2) subsection (b) shall be applied by substituting `0.725 percent' for `1.45 percent' in paragraph (6) thereof.'. [/LIST] [/LIST] [LIST] [*](c) Self-Employment- Section 1401 of such Code is amended by adding at the end the following new subsection: [/LIST] [LIST] [*]`(d) Reduction in Tax Rate for 2010- In the case of a taxable year beginning in 2010-- [/LIST] [LIST] [*] [LIST] [*]`(1) subsection (a) shall be applied by substituting `6.2 percent' for `12.4 percent' in the table contained therein, and [/LIST] [/LIST] [LIST] [*] [LIST] [*]`(2) subsection (b) shall be applied by substituting `1.45 percent' for `2.90 percent' in paragraph (6) thereof.'. [/LIST] [/LIST] [/quote]

[url]http://www.taxfoundation.org/podcast/show/26343.html[/url] More information on the bill and an interview.

Added to the OP [editline]11:24PM[/editline] At least he's a realist

[QUOTE=Ragy;23863725]The rich hire the middle. More tax cuts there means more jobs. Source is bias too.[/QUOTE] You clearly don't understand how the rich function. You cut the taxes on the rich, they will save it. They already have everything they need. A wealthy man who puts all his extra money into the bank isn't going to help the economy.

Oh for fuck sake... come on this isn't rocket fucking science, you cut taxes too fucking much you don't get revenue from the people! You don't get revenue you don't get money for FUNDING FOR PROJECTS SORELY NEEDED.

This will only help the economy. Cutting taxes for the rich will let them hire more employees and spend more money to expand and in the end give more money to the government through sales tax and taxes like it. [editline]11:37PM[/editline] [QUOTE=doomkiwi;23863994]Oh for fuck sake... come on this isn't rocket fucking science, you cut taxes too fucking much you don't get revenue from the people! You don't get revenue you don't get money for FUNDING FOR PROJECTS SORELY NEEDED.[/QUOTE] Taxes are already really super fucking high. 10% Sales tax in California, fuck that shit.

[QUOTE=StephenOrlov;23864108]This will only help the economy. Cutting taxes for the rich will let them hire more employees and spend more money to expand and in the end give more money to the government through sales tax and taxes like it. [editline]11:37PM[/editline] Taxes are already really super fucking high. 10% Sales tax in California, fuck that shit.[/QUOTE] I don't seem to remember that seeing as I live in California. It's 8.25. [editline]11:42PM[/editline] [QUOTE=StephenOrlov;23864108]This will only help the economy. Cutting taxes for the rich will let them hire more employees and spend more money to expand and in the end give more money to the government through sales tax and taxes like it. [/QUOTE] Because Reganomics have worked out so well so far.

[QUOTE=StephenOrlov;23864108]This will only help the economy. Cutting taxes for the rich will let them hire more employees and spend more money to expand and in the end give more money to the government through sales tax and taxes like it. [editline]11:37PM[/editline] Taxes are already really super fucking high. 10% Sales tax in California, fuck that shit.[/QUOTE] ...Yeah, you're bitching about a 10% tax rate. You're stupid to be bitching about that tax rate.

[QUOTE=HumanAbyss;23864286]...Yeah, you're bitching about a 10% tax rate. You're stupid to be bitching about that tax rate.[/QUOTE] He's also wrong, so you know.

Trickle down economics + Reagenomics = 100% bullshit. [editline]11:49PM[/editline] [QUOTE=doomkiwi;23864294]He's also wrong, so you know.[/QUOTE] Saw your post too late for that. People bitch about stupid tax rates without even knowing what a real tax rate is.

[QUOTE=doomkiwi;23864187]Because Reganomics have worked out so well so far.[/QUOTE] Actually they have.

Really?

-snip-

I don't believe you.

[QUOTE=Lambeth;23864375]Really?[/QUOTE] Yes keyword "have" I don't believe a complete Reaganomic economy would work today due to massive amounts of globalization but you would be hard pressed to disagree with the fact that it worked tremendously during the time period.

ehhhh

California does have the highest sales tax rate regardless. Correct me if I'm wrong, I don't know for sure.

both terms? [editline]12:13AM[/editline] my automerge [editline]12:16AM[/editline] [QUOTE=Mr_Razzums;23864606]California does have the highest sales tax rate regardless. Correct me if I'm wrong, I don't know for sure.[/QUOTE] Yes it does

Fuck. It was 9.75 at in'n'out a month ago.

[QUOTE=StephenOrlov;23866033]Fuck. It was 9.75 at in'n'out a month ago.[/QUOTE] No, it was not.

[QUOTE=doomkiwi;23866193]No, it was not.[/QUOTE] Perhaps it was not. Forgive my exaggeration, then.

[QUOTE=Cassettic;23864538]Yes keyword "have" I don't believe a complete Reaganomic economy would work today due to massive amounts of globalization but you would be hard pressed to disagree with the fact that it worked tremendously during the time period.[/QUOTE] ...Except... it didn't. At all. It created a system that was set to fail from the beginning. Republicans boast about how it won the cold war, it won the cold war for one fucking reason. Escalation. Regardless, it is one of the leading causes of the economic state that america is in today, not obama like you republicans would like to blame it on. Bush is another leading cause.