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Home Front: Politix
Democrats not ruling out higher taxes for rich
2007-01-09
Democrats are not ruling out raising taxes for the wealthiest people to help pay for tax cuts for middle-income families, House Speaker Nancy Pelosi said. She spoke of pursuing an estimated $300 billion that people owe in back taxes, eliminating deficit spending and reducing wasteful federal spending. "As we review what we get from ... collecting our taxes and reducing waste, fraud and abuse, investing in education and in initiatives which will bring money into the Treasury, it may be that (repealing) tax cuts for those making over a certain amount of money, $500,000 a year, might be more important to the American people than ignoring the educational and health needs of America's children," Pelosi, D-California, said in an interview aired Sunday. (Interactive: What House Democrats pledge to pass in the first 100 legislative hours)

A budget rule, known as the pay-as-you-go rule, that was approved by the Democratic-run House on Friday requires that tax cuts have corresponding cuts in government spending or tax increases elsewhere to pay for them.
Posted by:Fred

#12  Yep, and on the flip side their minimum wage increase will only hurt small businesses and other employers like auto-makers w/their unions band waggoning on for a slice. Thus, those companies will raise the price of the goods they sell in order to maintain their profit margin and/or cut their work force to do the same or a combo of both. Plus, in my acidly sarcastic mind, if your the bread winner of a family and the best you can do is a mini-wage job at the burger shack then you've really been pissing away your life instead of attaining job skills and education in order to earn more. Essentially if you're not retarded or elderly and the best you can do at age 35 is the BK for $6.95 an hour, your hopeless in my book.
Posted by: Broadhead6   2007-01-09 14:57  

#11  USMC6743, Thats called "Dimishing Returns" I think or the laupher curve? Anyway there is a point where taxes affect employment and whether people want to claim wages. There are all kinds of ways to hide money and income, just asks the Kennedy's and Kerry's. If you have a high tax rate of say 25% then people are more likely to claim income then they would at 35% or 50%. Also if employer make less money (by paying taxes) then they have to cut money somewhere and employees are the most costly part of a business.
Posted by: Cyber Sarge   2007-01-09 13:24  

#10  When one of my moonbat neighbors talks about taxing the rich, I remind them that the rich have another name, "employers."

They seem to have less class envy when they realize that taxing employers results in lower wages and less employment.
Posted by: USMC6743   2007-01-09 13:12  

#9  Built for class warfare affect: “Soak those rich bastards!” ThatÂ’s fine and dandy until they keep lowering the standard of who is rich and what can be taxed. I donÂ’t make a lot but I will bet my next 10 paychecks that Pelosi tax returns look likes a “Seven degrees of Kevin Bacon game.” The bottom line (or joke on us) is that she aint paying anywhere near what a normal person would expect. It will start with people making $500k and soon people making $50k will be defined as “rich”. At that point we all will be invited to pay the higher tax rates. Is it just me or does it seem the Democrats only want to accomplish two things: Raise taxes and Surrender in Iraq? How come nobody saw this?
Posted by: Cyber Sarge   2007-01-09 10:53  

#8  The trully rich in this country are a slippery bunch that are really hard to pin down to any taxes. For every tax law they pass their lawers will find 5 loopholes and actually save them money.

Hmmmmmm. Sounds like...Congress?
Posted by: tu3031   2007-01-09 09:41  

#7  Besides, is it just me or does this usually end up lighting on the middle class? The trully rich in this country are a slippery bunch that are really hard to pin down to any taxes. For every tax law they pass their lawers will find 5 loopholes and actually save them money. The middle class with our crappy H&R Block lackies will be the ones footing the bill.
Posted by: bigjim-ky   2007-01-09 09:36  

#6  That's shifty liberal talk for: "We're going balls-out for it".
Posted by: bigjim-ky   2007-01-09 09:34  

#5  I think they consider "the rich" as anybody that has a job.
Posted by: tu3031   2007-01-09 09:25  

#4  >Democrats not ruling out higher taxes for rich

Translation

Democrats want to increase fines for wealth creators.
Posted by: Bright Pebbles in Blairistan   2007-01-09 06:21  

#3  Democrats not ruling out higher taxes for rich

This is basically saying "we're going to raise taxes". Anybody middle class or lower basically doesn't pay their share of taxes. A very socialist idea, if you ask me.

Hint for those who are "Reality Challenged": You can thank W for that.
Posted by: gorb   2007-01-09 02:25  

#2  Let's be clear. We ain't rulin' em in, and we ain't rulin' em out. But, if you back us into a corner, no tellin' what could happen.
Posted by: SpecOp35   2007-01-09 01:53  

#1  Golly. Wotta surprise.
Posted by: mojo   2007-01-09 00:49  

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