Republican tax offer silly

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The blame game is officially on. In a letter to The Washington Post, the six Republican members of the supercommittee wrote to blame the Democratic six for the failure to arrive at a compromise.

In it, they stated their two-part offer. First, they would direct the full Congress to overhaul the income tax code, providing a number of suggestions that they said would increase tax revenue by billions. Second, they demanded that the Bush tax cuts become permanent.

This is downright silly, as no one can say what Congress would end up doing, if anything, on revising our tax code. If the Dems had agreed, the only thing certain would be that President Obama would not be free to let those cuts expire. This is, of course, just what the Republicans want, to serve their wealthy contributors. The Democratic six had no alternative but to reject this phony proposal.

It would be more logical for the president to announce that the Bush cuts in their entirety will be allowed to expire at the end of 2012, while at the same time directing Congress in early 2013 to cut the taxes of those making less than, say, $100,000 per year to what they are now under the Bush cuts. I find it hard to believe that Republicans in Congress would reject that step, since cutting taxes seems second nature to them.

I write this as one who pays no more than 15 percent tax on a big chunk of my income – that on dividends. The only way to get rid of that sweet deal may be to let the cuts expire in their entirety. It is grossly unfair that those who work for a living are taxed at rates far higher than those sitting in their easy chairs.

Victor J. Reilly

Aiken, S.C.

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burninater
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burninater 11/28/11 - 10:39 pm
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Uh oh Victor, you're starting

Uh oh Victor, you're starting to sound like Ronald Reagan with that progressive tax code claptrap.

KSL
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KSL 11/28/11 - 11:00 pm
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Victor, why do you continue

Victor, why do you continue to make it sound like the Rems have no wealthy contributors or recipients of gov. largess?

Second question: If there are so many wealthy Dems, and we know there are a lot of them in Congress, who think taxes need to be raised, why don't they lead by example and go ahead and volunteer to pay more themselves?

burninater
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burninater 11/28/11 - 11:30 pm
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KSL, voluntary tax payments

KSL, voluntary tax payments face the free rider problem -- those who don't choose to pay more will continue to receive the same deficit-inducing services, so there is no incentive for people to pay voluntarily. However, if those who can afford to contribute more are required to do so across the board, they would all receive the benefit of reduced deficits.

Of course, if you were heavily capitalized and were participating in hedged positions that would PROFIT from a failing US economy, and were in a position, like oh, let's say, CONGRESS, where you could insist on a tax policy that would guarantee decreasing tax revenues by continually decreasing marginal rates on the wealthiest Americans ... Oh, wait, nevermind ...

allhans
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allhans 11/29/11 - 05:02 am
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What we need is a leader who

What we need is a leader who is willing to work with these guys and get something done. Obama says it MUST be done NOW. Then he and Michelle heads for Hawaii. Yawn----
The Democrats pulled two items out of a package and fed it to the media placing the blame for failure on Republicans. If they had the guts to lay it all out and tell the truth about WHY Republicans are refusing then something might just get done.

carcraft
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carcraft 11/29/11 - 05:37 am
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The Dems set this up asathe

The Dems set this up asathe only way forward for them. They don't have Bush to blame for Obama's and the Democrats failures. Can't blame any one but them selves so play the wealth envy card. Obama will run against Congress (even thought the Senate is controlled by Democrats), and the Congress critters with D in front of their name will blame Republicans. The truth of the matter thought is that even if you taxed the wealthest and corperations at 100% you could not cover the spending that is going on. that is why you MUST cut spending first then deal with taxes. The Democrats have sucker Republicans for years with the old Wimpy line from Popeye "I will gladly give you a spending cut tomarrow for a tax raise today". The Republicans have repeatedly fallen for it. The Rich pay the most is taxes and now while about 50% of house holds pay no taxes...Then the wealthy Democrats try to cheat on thier taxes like Wrangle and little Tom Daschel, John Kerry etc.. The lame stream media gives them cover of course...Say haw is Solyndra and Fast and Fusrious doing? Oh never mind, Democrats are involved..

augusta citizen
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augusta citizen 11/29/11 - 06:28 am
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Mr. Reilly, I assume you paid

Mr. Reilly, I assume you paid income taxes on the money that you later invested. The 15% paid on the dividends now is after the original income taxes were paid. If not you, then your parents or grand-parents.

david jennings
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david jennings 11/29/11 - 07:13 am
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I wonder if Mr. Reilly read

I wonder if Mr. Reilly read Krauthammer' column at the bottom of the op ed page. I imagine he would just say it is silly also.

Bizkit
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Bizkit 11/29/11 - 07:24 am
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Dems are playing class

Dems are playing class warfare because they don't want the bullseye on them-the ones culpable with all of this. The rich aren't thieves but doctors, etc who played the game fair and square (nothing unfair about it). Raising taxes on the wealthy is a politcal mantra not a real solution to the problem. Let the Bush tax cuts end and watch middle class America's taxes go up, but of course this is what Congress wants. Congress wants all of our money so it is "their" money to be spent as they please. The government is getting their 20-25% of GDP from taxes so taxations isn't the problem-spending is the problem (and Congress acts like drunken sailors on leave -after all they have great pay, great health care, great retirement no worries of being fired for incompetence, they can legally attain inside info and make a lot of money on the stock market, etc. The class warfare will do nothing to strenghten America-only Congess benefits with more govt and more of your money. Note the wealth of Congress the last three years has grown more than the top 1% earned in 40 years.

southernguy08
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southernguy08 11/29/11 - 08:33 am
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Wealthy Republicans, Victor?
Unpublished

Wealthy Republicans, Victor? Wow, guess Jay Rockefeller(D-West Virginia), yeah, son of THOSE Rockefellers is some poor, working class Democrat who had to work for everything he has? How about the Kennedy's? Nancy Pelosi, estimated to be worth over 100 million? Harry Reid, Al Gore, how many "Limousine liberal" Dems do you want me to name that you conveniently ignore when you bash Republicans? Yeah, I'm laughing Victor. So are a lot of others. I see wealth envy is alive and well.

burninater
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burninater 11/29/11 - 09:43 am
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"Class warfare" folks, could

"Class warfare" folks, could you please explain why it wasnt class warfare when Reagan made the exact same case for a progressive tax code?

And carcraft, the 50% not paying taxes is only true if you count children, the elderly, and the destitute. The real number among working households is ~15%. Of course, Newt thinks child labor is a great untapped resource, so maybe he's shooting for that original statistic.

Chillen
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Chillen 11/29/11 - 09:10 am
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Best Class Warfare and Wealth

Best Class Warfare and Wealth Envy letter ever. Hear Hear Mr. Reilly! You have truly outdone yourself.

Instead of worrying about a middle class family who makes $150,000 per year.....
Why don't you tackle the Fed who is printing money & causing rampant inflation? (have you been grocery shopping lately?)
Or the IMF bailing out Europe with OUR money? (only a temporary fix)
Or obama's gift giving to Solyndra? (he needed to line his donors pockets with federal money before they went out of business)

There are much bigger fish to fry other than attacking your own hard working neighbor's wallets.

Little Lamb
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Little Lamb 11/29/11 - 09:34 am
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Excuse me, Burninater, but I

Excuse me, Burninater, but I thought the tax code changes implemented by Congress under guidance of the Reagan administration were to make the tax brackets less progressive, but also to remove most of the loopholes that the upper brackets had been enjoying. If you can get a copy of Charles Krauthammer's column in today's print edition (I'm sure it's on-line somewhere also) you will see that some Republicans are in favor of something like this today.

As long as Obama and Reid insist on higher tax brackets, they will run into opposition. They could make some headway by agreeing to end many corporate and individual loopholes while leaving the brackets the same or even lowering some brackets.

burninater
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burninater 11/29/11 - 09:52 am
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LL, a key part of Reagan's

LL, a key part of Reagan's tax reform was to RAISE the capital gains tax to OFFSET the tax relief gained by wealthiest Americans as a result of tax brackets being made less progressive. We've now erased that capital gains tax increase, and attempts to restore tax levels to those that helped make our country prosperous are being called class warfare. Silliness.

Chillen
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Chillen 11/29/11 - 10:05 am
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This quote gets to the bigger

This quote gets to the bigger issue I speak about. A bigger issue than Mr. Reilly's issue - which is simply asking for the government to pick pocket more of his neighbor's money.

"If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs" ~Thomas Jefferson, 1809~

Our founding fathers were geniuses. But they did not put enough governmental restrictions in place.

CorporalGripweed
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CorporalGripweed 11/29/11 - 10:06 am
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Mr Reilly's letter is

Mr Reilly's letter is rendered moot by Krauthammer's column below in in the hard copy of the paper.

justthefacts
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justthefacts 11/29/11 - 10:10 am
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Burn, your comment, "And

Burn, your comment, "And carcraft, the 50% not paying taxes is only true if you count children, the elderly, and the destitute.", is not exactly true. You, for the most part, argue honestly, so maybe there is confusion. I believe carcraft was referring to Federal Income tax. If so, his comment is factual. 47% of working families do not pay Federal Income tax.

justthefacts
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justthefacts 11/29/11 - 10:37 am
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Got to love this guy: “I was

Got to love this guy: “I was angry this weekend, listening to the spin coming out of the administration, about the failure of the supercommittee, and that the president knew it was doomed for failure, so he didn’t get involved. Well, then what the hell are we paying you for?” Christie said in Camden, N.J. " 'It’s doomed for failure, so I’m not getting involved'? Well, what have you been doing, exactly?”

nofanofobama
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nofanofobama 11/29/11 - 11:22 am
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big govt types do not want a

big govt types do not want a simplified tax code...the zillion pages of tax code gives rise to power of politicians... simplfy ithe code say a flat tax and take away the power of DC to tinker with the tax code ie..passing out tax breaks and favours and we solve a lot of problems..corruption for one...but those 47 percent who get $$ and living from DC...and those who stay in power by giving more and more votes with others people money DO NOT want tax simplification..they lose power...but its not more taxes that needed its less spending...period.

My Take
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My Take 11/29/11 - 11:27 am
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Hey Victor old buddy old pal,

Hey Victor old buddy old pal, I just want you to feel free to pay my taxes or raise your own to 50% if you are so concerned.

BTW you appear to be what you hate---a capitalist, living off their dividends. Can you spell hypocrite?

allhans
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allhans 11/29/11 - 11:29 am
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justhefacts. You are so

justhefacts. You are so right. The left has already started on Christie this morning.

Carleton Duvall
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Carleton Duvall 11/29/11 - 01:04 pm
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Lets put his matter to

Lets put his matter to rest:

The Huffington Post Alexander Eichler First Posted: 06/28/11

Nearly half of American tax filers will pay no federal income taxes this year, according to data released by the Tax Policy Center.

Some 76 million tax filers, or 46.4 percent of the total, will be exempt from federal income tax in 2011.

But with the help of the government, a similar percentage of filers -- many of them among the bottom 40 percent of earners -- have legally avoided paying federal income tax for the past several years.

allhans
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allhans 11/29/11 - 01:12 pm
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The Republicans have it

The Republicans have it right. Close the loopholes so that large corporations such as GE will pay their share. That will put many more dollars in the treasury than a tax increase which would not insure that GE and others wouldn't continue to take advantage of the tax breaks and pay zero taxes.

Then cut out the tax credits to everyone. No pay, no gain.

burninater
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burninater 11/29/11 - 01:22 pm
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.

.

burninater
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burninater 11/29/11 - 01:24 pm
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Scooby, carcraft claimed 50%

Scooby, carcraft claimed 50% of Americans pay no tax. Not that they pay no income tax. By what perverse logic are payroll taxes not a tax? I stand by my post that the real number of working households that do not pay taxes is ~15%.

allhans
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allhans 11/29/11 - 01:35 pm
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Burninater..AAHG! "working

Burninater..AAHG! "working households", now you have changed the subject. I think the discussion centers around tax filers. Some of the filers work just long enough to get a W-2.

Carleton Duvall
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Carleton Duvall 11/29/11 - 01:35 pm
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I guess one can interpit the

I guess one can interpit the matter to suit their own agenda. Generally , when you speak of of federal taxes you are talking about income taxes. Every working person pays payroll taxes and they are staggering to low income people.If you are including them,burninater, you may be right. I have no reason to dispute your number.

Carleton Duvall
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Carleton Duvall 11/29/11 - 01:40 pm
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If you really want to muddle

If you really want to muddle the issue,burninator, you can include all of the hidden taxes that we all pay when we buy goods. Lord only knows what they amount to.

Carleton Duvall
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Carleton Duvall 11/29/11 - 01:46 pm
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I just read carcraft's

I just read carcraft's comment for the second time and I am convinced that when he says taxes he means federal income taxes. Maybe, for the sake of clarification, he will jump in and tell us exactly what he meant.

Little Lamb
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Little Lamb 11/29/11 - 01:56 pm
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Here's another quote from

Here's another quote from Governor Christie yesterday:

“If he [Obama – LL] wanted to run for Senate again and just be 1 of a 100, I’m sure he could have gotten re-elected over and over again in Illinois,” he said. “He’s the one in Washington and he’s got to get something done here. And it’s not good enough just to say, ‘Well, I’ll get it done after the election.’

It's about time someone pointed out that the emperor is wearing no clothes. There will be nothing from Obama from now on but demagoguery, Republican-bashing, personal smears of opponents (of which, the numbers grow each day), class warfare rhetoric, and a promise of more government regulation over our lives.

We have no president, but merely a sniper in chief.

burninater
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burninater 11/29/11 - 03:34 pm
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Allans, I put working

Allans, I put working households in there because my original response to carcraft was that the 50% pay no taxes line is only true if you include CHILDREN, the ELDERLY, and the INDIGENT. To me, that's a ridiculous statement, and if we want to talk about whether people are paying their fair share of taxes, it's a bit of a stretch to say its unfair because you counted children, the elderly, and the indigent in your numbers. If you want to talk about income tax fairness, you should talk about people who are earning incomes, and to additionally ignore the fact that payroll taxes are a DIRECT tax on INCOME is a further manipulation of the numbers.

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