Buffett rule

raises taxes on those making a million dollars to the 30% level



Joint Committee on Taxation says passing Buffet rule raises 47 billion over 10 years..

meanwhile

President Obama's budget raises the national debt by 6.5 trillon over those same 10 years


so what would seem to be the biggest problem here...taxation or spending?

Buffet rule = Change the rules for everyone else right before you cash in your chips.

You make it sound like that's the only thing Obama is planning to do. And if it's such a small amount, then why are Republicans fighting it so hard? Should middle class workers pay a higher percentage in taxes than millionaires?

Zimmie is right. What we should do is eliminate all entitlements and give more tax breaks to the rich, so their money can trickle down and feed us, like cockroaches sifting thru the garbage dump at the back of the restaurant. And don't worry about compensating for those tax breaks. The Republitards will close loopholes in the tax code, they just don't know where they are yet.

Clearly, any deficit-reduction package is a combination of smaller policies that contribute to the bottom line figure. The Buffett Rule is one such policy proposed by President Obama.

Ryan and Romney have proposed cutting revenue by trillions, and have promised to offset that lost revenue with ending deductions and loopholes. However, to my knowledge, they haven't yet had the cojones to specify which deductions or loopholes they would close.

So, it looks like President Obama is actually about $47 billion ahead at the moment!

buffets rule, thats one reason i enjoy vegas

I had a Buffet at a restaurant owned by Jimmy Buffett in Carmel California about 20 years ago. True story.

Zimmie's point is we have a SPENDING problem. You can raise their taxes to 100%, and it won't solve the problem, dimwit.
It's nothing but a meaningless "cash grab" to appease and get the vote of societies parasites. Plain and simple.

It's POINTLESS. Democrats are like parasitical wives who do nothing but spend money with no concern to budgeting and actual "buying power". It's illogical, self destructive and unsustainable. Anything else, Robin?

Do you really think that the 47 Billion gained by the Buffet rule will be saved?

I agree that some taxes need to be raised and quite a few loopholes need to be closed bit, THIS SHOULD ONLY BE DONE AFTER WE HAVE CUT SPENDING DRAMATICALLY. We have a tax and a spending problem but the spending problem is worse.

trickle down

Of course, the trillions in tax cuts proposed by Ryan and Romney amount to a spending increase as well. They're not specifying what loopholes they will close to raise revenue, and propose turning Medicare from a single-payer system for seniors into a voucher program. What will happen to our nation's seniors as healthcare costs continue to rise but their vouchers remain static?

If Ryan and Romney want to offset those tax cuts with spending cuts, which programs and services will they eliminate that can equal that amount of money while not simultaneously destroying our country's safety net?

President Obama has shown to be more than willing to attack the deficit and debt through a combination of increased revenue and decreased spending. Any rhetoric suggesting otherwise is hackery.

Not only that they want to repeal the ACA, which means insurance companies will once again deny coverage on anyone with a pre-existing condition. So good luck using your voucher on anything when no company will insure you.

Republicans create large "hidden" taxes.

This is what they do when they cut taxes, unbalance the budget, and create more unfunded programs.

Why is this a "hidden" tax?
Because it lowers the value of our money. It lowers the value of our savings and investments, it raises the cost of imported goods like oil.

They love to blame Democrats, but at least Democrats try to match taxes to spending. Republicans prefer to borrow and spend.

The system will not change regardless of who is elected because the system behind the scenes won't change. Same lobbyists, same big money influence.

If you people don't know this, start reading.

The voucher idea is not going to work, simply because people in general are stupid, and insurance companies will do everything in their power to rob people of their voucher money thru hidden fees and lying, such that whatever the govt. gives you wont be enough, and then what?

Also, why hasn't anyone given a thought to closing loopholes in entitlements instead of eliminating them altogether? I think we all agree that people sneak thru the cracks and take govt. money when they could be working or even if they dont really qualify. How about fine tuning the qualification process such that we make it harder for the leeches to hang on?

I guess that's too difficult, so the easy way out is to nuke entitlements to extinction and let the poor people who actually need it die. Survival of the fittest, social darwinisim, etc.

That's exactly what they do.

That is funny. Here we all thought it was a republican president who took us from a surplus to a deficit by waging 2 wars, a presciption drug plan and a tax break for the rich without paying a single penny for it.

But keep making up your own history. The rest of us get a kick out of your stupidity.

Vouchers and tort reform are the gop's fixes for all this countries problems.

Can we be honest here? Republicans spend just as much money. They just prefer not to pay for it. History shows that. They can say anything they want while campaigning. The truth is evident for all to see. Ronald Reagan borrowed more money than his predecessor, Bush Sr. borrowed more, George W. borrowed more.

Don't confuse the facts with a fraudulent campaign.

I fear your right, but it wasn't so long ago that the federal government had a budget surplus, and the end of our national debt was in sight. Then, revenues were cut drastically and spending increased dramatically, and 12 years later, now we find ourselves in this clusterfuck.

I hold out hope that you're wrong, and that our elected officials can compromise once again so that we can begin to regain some fiscal sanity.

I'm conservative, but I'm no horn blower for the R's. I believe that we should give more power back to states. Shut down useless government agencies and allow people to live how they want in the only place where they have true democracy. The feds need to educate states when the need arises, maintain equality and defense and look out for the true needy. Broad sweeping fed regulation is not always the answer and sometimes has unintended consequences. Like I brought up in another thread concerning strip searches.

I don't mean to be pessimistic, but I don't think it will. We have exactly what we want.
The system has been corrupted from the top down. I knew it was over when the Supreme Court declared money is free speech. Now, never again, will a candidate be elected to high office on merit. Their votes are now for sale to the highest bidder.

Hey Chris, you blame only the Republicans for lowering the value of our money? You ever hear of QE1, QE2

and soon to be QE3?....it's electronically created money, were using make believe money to survive right now....