Geithner: We are ready to go over the fiscal cliff if the GOP won't raise taxes on the rich - Polidicks

[url]http://www.aljazeera.com/news/americas/2012/12/20121265416554848.html[/url] [quote=AJE]The US Treasury Secretary has said the Obama administration is "absolutely" ready for the US economy to go over the "fiscal cliff" rather than accept a budget deal that does not include higher tax rates for top earners. Timothy Geithner said on Wednesday that the administration believes budget deficits are so large that they cannot be closed without boosting tax rates on the highest-earning two per cent of Americans. Most Republicans oppose higher rates for any taxpayers. "There's no prospect in an agreement that doesn't involve those rates going up on the top two per cent of the wealthiest Americans," Geithner said in an interview on CNBC. Geithner's comments immediately drew fire from a top Republican senator. "This is one of the most stunning and irresponsible statements I've heard in some time," Senator Orrin Hatch said. "Going over the fiscal cliff will put our economy, jobs, people's paychecks and retirement at risk, but that is what the White House wants, according to Secretary Geithner, if they don't get their way." Republicans in Congress and Obama consumed much of Wednesday talking up their positions on the "fiscal cliff" and though Obama and Republican House Speaker John Boehner spoke by phone, neither side offered any new compromises in public. Nor was the phone call, a rarity, followed by any immediate announcement of a face-to-face meeting that has been widely anticipated all week and was explicitly requested early in the day by House of Representatives Republican leader Eric Cantor. [B]'Conceptual breakthrough'[/B] Obama has said there could be a quick deal if Republican leaders dropped their opposition to raising tax rates for those making more than $250,000 a year in exchange for spending cuts and entitlement reforms. "If we can get the leadership on the Republican side to take that framework, to acknowledge that reality, then the numbers actually aren't that far apart," Obama told The Business Roundtable in Washington. "Another way of putting this is we can probably solve this in about a week. It's not that tough, but we need that conceptual breakthrough," he said. The fiscal cliff refers to the tax increases and deep spending cuts that will take effect in January unless Congress and the White House reach a budget deal first. In the interview, Geithner also said the administration would reject a budget plan that did not include an increase in the federal borrowing limit. The current limit is expected to be reached either late this month or early next year. "We are not prepared to have the American economy held hostage to periodic threats that Republicans will force the country to default on our obligations," Geithner said. "That would be a terrible thing for the financial security of the average American, for businesses, for confidence around the world and the United States." Geithner said he still thinks progress is being made in the budget negotiations and that the outlines of an agreement are becoming clearer. "They look inevitable," he said.[/quote]

INCOMMING GLABER!

Don't taxes get raised anyway as a predetermined safety measure?

kinda funny how usa punishes the rich for problems they didn't cause

[QUOTE=_Chewgum;38723479]kinda funny how usa punishes the rich for problems they didn't cause[/QUOTE] Those poor rich people. It's just bizarre how so many in the US expect their Government to pay for their needs without paying any tax. God damn selfish.

[QUOTE=_Chewgum;38723479]kinda funny how usa punishes the rich for problems they didn't cause[/QUOTE] I hate how police arrests murderers for killing people.

oh no, all the rich people will leave to somalia

[QUOTE=Van-man;38723533]I hate how police arrests murderers for killing people.[/QUOTE] are the rich spending a bunch of printed money? no i'm all for the rich paying a bit more tax, but just because they have money doesn't mean they have some duty to give it away. It's like me coming into your house and taking your food because you have a lot. and your comparison to murders is just dumb kiddie shit

It doesn't make any sense at all that they would fight so hard against raising taxes on only 2% of the RICHEST people in the country, and would rather watch everyone go down in flames instead What a bunch of dumb fucks

[QUOTE=Lonestriper;38723468]Don't taxes get raised anyway as a predetermined safety measure?[/QUOTE] Yes because if that law is not renewed it just goes away. The other cuts were from the debt ceiling crisis from last year and we made sure that neither side would like it but it looks like republicans have misplaced their brains and dont seem to understand that if the white house does not get what they want from them, then those automatic items will give it to them. It is in the best interest of the GOP as a whole to get over it and simply say we will do x y and z but we want a b and c because Obama is not going to negotiate for both sides this time like the past 2 years. That does not mean they can just go cutting things that the people want, it needs to make sense to everyone and a proper fix to the whole problem.

[QUOTE=_Chewgum;38723479]kinda funny how usa punishes the rich for problems they didn't cause[/QUOTE]They've taken good advantage of our financian system, it's only fair that they're then made responsible for it.

So the problem with having rich people pay up a bit more is...? I'll take your opinion against making rich people pay up a bit more seriously if you can answer the aforementioned question.

[QUOTE=Nitro836;38723929]So the problem with having rich people pay up a bit more is...? I'll take your opinion against making rich people pay up a bit more seriously if you can answer the aforementioned question.[/QUOTE] corporations would most likely get fucked over (via tax reform which will most likely happen now either way) which in turn would fuck over the ceos (who will get further fucked by the tax reform if it happens) who are those rich people. the gop is basically the bitch of many if not all large corporations who want to make as much money as possible while giving less back (as they are also getting ALOT of money from governments [notice the s]) As the gop control congress there is enough incentive from the corporations to prevent these things but at the rate things are going, it wont end well for them if we go over the "cliff"

[QUOTE=Lonestriper;38723468]Don't taxes get raised anyway as a predetermined safety measure?[/QUOTE]As well as massive cuts to programs that seek to help the poorest of Americans. It's a thing that theoretically neither side should want to occur, as it has items that are repugnant to each side.

[QUOTE=_Chewgum;38723479]kinda funny how usa punishes the rich for problems they didn't cause[/QUOTE] yeah, i certainly can't think of any problems the financial elite caused 2008? what happened then? :rolleyes:

[QUOTE=MuTAnT;38723488]Those poor rich people. It's just bizarre how so many in the US expect their Government to pay for their needs without paying any tax. God damn selfish.[/QUOTE] I don't know about you but I think everyone should be taxed evenly.

[QUOTE=_Chewgum;38723599]are the rich spending a bunch of printed money? no i'm all for the rich paying a bit more tax, but just because they have money doesn't mean they have some duty to give it away. It's like me coming into your house and taking your food because you have a lot. and your comparison to murders is just dumb kiddie shit[/QUOTE] You're making the classic mistake of not helping retarded policies by seeming like a total joke. Dude what?

[QUOTE=ultra_bright;38724887]I don't know about you but I think everyone should be taxed evenly.[/QUOTE]Turns out that's still a bad way of taxing people. Flat Taxes still impact the poor far worse than they will ever impact the wealthy.

[QUOTE=Doctor Zedacon;38724977]Turns out that's still a bad way of taxing people. Flat Taxes still impact the poor far worse than they will ever impact the wealthy.[/QUOTE] Well maybe you should only get taxed if your making more than a livable amount. So if you make more than 50k a year you pay a %15 tax on every dollar after it.

Just tax everyone with more than 1 Million yearly income by 100%. At that income level, they become corrupt parasites anyway. What? I'm just doing what the Republicans do about the 47%. If they're not wrong, neither am i! [editline]6th December 2012[/editline] [QUOTE=ultra_bright;38725008]Well maybe you should only get taxed if your making more than a livable amount. So if you make more than 50k a year you pay a %15 tax on every dollar after it.[/QUOTE] As "cool" as that is, it wouldn't sustain your current government public sector. Maybe if you stopped policing the world, it'd work. Then you'd be able to do just that and still boost your public sector and maybe live up to civilized society's standards in 50-70 years.

[QUOTE=Bomimo;38725018]Just tax everyone with more than 1 Million yearly income by 100%. At that income level, they become corrupt parasites anyway. What? I'm just doing what the Republicans do about the 47%. If they're not wrong, neither am i! [editline]6th December 2012[/editline] As "cool" as that is, it wouldn't sustain your current government public sector. Maybe if you stopped policing the world, it'd work. Then you'd be able to do just that and still boost your public sector and maybe live up to civilized society's standards in 50-70 years.[/QUOTE] 1 million bucks a year wont even get you a nice house and car

[QUOTE=ultra_bright;38725008]Well maybe you should only get taxed if your making more than a livable amount. So if you make more than 50k a year you pay a %15 tax on every dollar after it.[/QUOTE]The way it works in the U.S. and several other countries is that you're taxed based on each bracket that you fall in to. Lets say the first bracket were 4% of $30,001 to $50,000 and the second bracket were 7% of $50,001 to $80,000 and the third were 10% of $80,0001 to $100,000 and the fourth were 15% of $100,001 and up. If someone made $125,000 then they would not be taxed at all for the first $30,000. Then they would only be taxed %4 for the next $20,000, then 7% for the next $30,000, then 10% for the next $20,000, then 15% for the last $25,000. This is so that it is never more beneficial to earn less so as to fit in a lower bracket. Also, there is a reason people say the tax system is incredibly convoluted.

[QUOTE=_Chewgum;38723479]kinda funny how usa punishes the rich for problems they didn't cause[/QUOTE] are you really

Of course the rich didn't cause any problems... a lot of them work really hard to earn their money. Surgeons, Dentists, people who started their own company and spent endless nights until it finally got big. I feel like the super rich should get taxed more, but I also feel in this current day people have a sort of disrespect for the wealthy.

[QUOTE=Doctor Zedacon;38725117]The way it works in the U.S. and several other countries is that you're taxed based on each bracket that you fall in to. Lets say the first bracket were 4% of $30,001 to $50,000 and the second bracket were 7% of $50,001 to $80,000 and the third were 10% of $80,0001 to $100,000 and the fourth were 15% of $100,001 and up. If someone made $125,000 then they would not be taxed at all for the first $30,000. Then they would only be taxed %4 for the next $20,000, then 7% for the next $30,000, then 10% for the next $20,000, then 15% for the last $25,000. This is so that it is never more beneficial to earn less so as to fit in a lower bracket. Also, there is a reason people say the tax system is incredibly convoluted.[/QUOTE] Fine. Nobody gets taxed at all. Are you happy now?

[QUOTE=ultra_bright;38725038]1 million bucks a year wont even get you a nice house and car[/QUOTE] Define nice.

[QUOTE=Raidyr;38725265]Define nice.[/QUOTE] something like this [img_thumb]http://upload.wikimedia.org/wikipedia/commons/d/d8/George-Eastman-House%3DExterior.JPG[/img_thumb]

[QUOTE=_Chewgum;38723479]kinda funny how usa punishes the rich for problems they didn't cause[/QUOTE] Taxes aren't punishment. They are how the country pays for its fucking self. unless you're baiting me, in which case. Good job.

[QUOTE=ultra_bright;38725283]something like this [img_thumb]http://upload.wikimedia.org/wikipedia/commons/d/d8/George-Eastman-House%3DExterior.JPG[/img_thumb][/QUOTE] Are you serious?

[QUOTE=ultra_bright;38725283]something like this [img_thumb]http://upload.wikimedia.org/wikipedia/commons/d/d8/George-Eastman-House%3DExterior.JPG[/img_thumb][/QUOTE] literally baffled right now