Tax Increases anyone?

[Nole Pirate]

http://article.nationalreview.com/?q=ZW ... M1ZTJmNjA=


Like the 5,000 I paid in federal income taxes last year wasn't enough.

[green1]

Not surprised by this in the least. A leopard can't cahneg it's spots, and many people were telling the American public this would happen with a Democratic Majority in the house and Senate. But those warnings fell on deaf ears. Watch tax revenues when these increases take effect. You will see an increase in the first year or so, and then a steady decline as more people funnel their money into tax shelters. Even JFK knew that the way to increase tax revenues was to cut taxes. Oh well, we get what we elect, and now, at least for the next 1.5 years we will have these nitiwts robbing us blind.

[Crazy Navy Flyer]

Support the Fair Tax movement. www.fairtax.org

Saw this coming after the last election, ya gotta hand it to the democrats....your $$$$

[Indiana Jolly Mon]

I hate both parties. Im gonna move to my own island. Cutting the child credit? Gotta love a tax code that has penalized people for marriage, death and now takes the benefit away from having kids.
I realized years ago that I could get a second mortgage on my house and spend it all in vegas on gambing, booze and hookers and the interest would be deductible, yet the interest on my student loans is not.
Im going on welfare and sticking it to the man

[OystersandBeer]

yet the interest on my student loans is not.
Im going on welfare and sticking it to the man

Why isn't it?

[RinglingRingling]

yet the interest on my student loans is not.
Im going on welfare and sticking it to the man

Why isn't it?

it is for the first 60 months of the loan repayment period

[LIPH]

yet the interest on my student loans is not.
Im going on welfare and sticking it to the man

Why isn't it?

it is for the first 60 months of the loan repayment period

I think there's also an income limit so if you make too much you can't deduct the interest.

[Skibo]

I believe George Bush would veto a bill of this nature. Revenues have been up since the last round of tax cuts. Punishing successful people by making them pay more taxes is not good for the economy. Bring back the line item veto so the pork can be cut while letting the legitimate spending pass.

[Indiana Jolly Mon]

It is not deductible due to income limit. When it was passed in late 90's they didnt mention that so most people dont know. If I made under the limit I wouldnt make enough to pay back to loans.

[flyboy55]

Hmmm. Before everyone runs off in a panic, it would be wise to consider where this opinion comes from.

The article was written by Sen. Mitch McConnell, the Senate Republican Leader, and provides no specific references to legislation to support his thesis. In that regard, the article can be considered a political opinion piece.

In addition, the article comes from the National Review, a conservative journal with a definite philosophical outlook with regard to economics in general, and tax policy in particular. Back in the day, the National Review carried articles by economists praising the Chilean government of Augusto Pinochet, pointing out that while he may employ objectionable methods to maintain control (torture, assassination, mass murder, etc) at least he believed in the power of the 'free market' and that made him better than someone like Castro.

My point is simply that, in his opinion piece, Republican Sen. McConnell may or may not be presenting an accurate picture of whatever new tax regime we may experience going forward (a politician lie? say it isn't so!). Also, the fact that his comments appeared in the National Review should NOT be interpreted as giving them any kind of sober imprimatur, considering the kind of material that journal has published in the past.

[Indiana Jolly Mon]

Are you suggesting that a media outlet would print something untrue or alter the facts for political purposes? Gee if this keeps up I can see where some people may not trust the media at all!!
BUT, I am sure democrats are gonna try to raise taxes in some way, after all it is their turn to screw up our country now that the repulicans are almost done with their turn.

[captenuta]

I told you so!

[Wino you know]

Taxes HAVE to go up. There are too many illegal aliens and welfare recipients to support.
I DARE any politician (or anybody else, for that matter) to look me in the eye and tell me I don't pay enough taxes.
This all makes the idea of retiring in 2009 and moving to Belize sound all the more attractive. (And taking MY money with me). YOU PEOPLE go right ahead keep electing people like that IDIOT from Massachusetts and the same bunch of tax & spend socialists-I'll be on a beach somewhere KEEPING MY money.

This is going to be a problem in this country until our lovely elected "leaders" can learn how to CUT DISCRECIONARY NON-DEFENSE SPENDING!

We have a better chance of seeing Rosie O'Donnell as a playboy centerfold.

[Triathlete-Parakeet2]

We have a better chance of seeing Rosie O'Donnell as a playboy centerfold.

I agree with you Wino. But I dont now about Belize... I got some bad E. Coli like thing there. NOT FUN!!!

[Wino you know]

I agree with you Wino. But I dont now about Belize... I got some bad E. Coli like thing there. NOT FUN!!!

Well, then, maybe some South Pacific Island like Majuro, Ponepe, Cosari, or God knows where. But as long as politicians insist on keeping their hands in my pocket, it won't be here.

[CapnK]

Hmmm. Before everyone runs off in a panic, it would be wise to consider where this opinion comes from.

The article was written by Sen. Mitch McConnell, the Senate Republican Leader, and provides no specific references to legislation to support his thesis. In that regard, the article can be considered a political opinion piece.

In addition, the article comes from the National Review, a conservative journal with a definite philosophical outlook with regard to economics in general, and tax policy in particular. Back in the day, the National Review carried articles by economists praising the Chilean government of Augusto Pinochet, pointing out that while he may employ objectionable methods to maintain control (torture, assassination, mass murder, etc) at least he believed in the power of the 'free market' and that made him better than someone like Castro.

My point is simply that, in his opinion piece, Republican Sen. McConnell may or may not be presenting an accurate picture of whatever new tax regime we may experience going forward (a politician lie? say it isn't so!). Also, the fact that his comments appeared in the National Review should NOT be interpreted as giving them any kind of sober imprimatur, considering the kind of material that journal has published in the past.

I'm shocked it took so long before somebody blasted the source of the article.

Let's get rid of all partisan news....oh wait, that leaves us with nothing.

[flyboy55]

Tax cuts are used as a way to get elected, whether they are fiscally prudent or not.

Reagan did so in the 80's and got elected twice. However, even Reagan and his cohorts departed from the questionable playbook of supply-side economists and 'trickle-down' theorists when they bloated the defense budget and ran up a record amount of public debt.

The current administration has followed the same routine with the same results. Tax cuts coupled with vastly increased military spending have helped Bush and his administration run the public debt up to new record highs, this after steadily declining during the Clinton years.

In addition, it hardly seems fair to keep referring to 'tax-and-spend' liberals if you don't like the state the country's finances are in.

The Republican Party controlled Congress from 1993 until last year (13 years in total) and has controlled the White House for the last 7 years.

Oh, and that bloated military budget has NOT meant good things like livable wages or excellent health care and benefits for those serving in the various branches. That fact is self-evident.

By all means complain about the taxes you pay, but to push the panic button because the Democrats have controlled Congress for a few months suggests to me to be taking a rather blinkered approach to public finance.

[jonesbeach10]

Are you suggesting that a media outlet would print something untrue or alter the facts for political purposes? Gee if this keeps up I can see where some people may not trust the media at all!!

From the internet no less!!!

Honestly, Bush would veto this in a second. I'm honestly unsure that it would even pass in the Senate. You're taxes aren't going up while Bush is in office.

In response to a few other things mentioned...
1) line-item vetos are obviously unconstitutional, so we need an amendment to allow it. And it would have to start with our buddies in Congress.
2) As for pork spending, the only way we're ever going to get rid of it is if the Supreme Court rules it unconstitutional, probably because individual pork projects wouldn't be considered interstate commerce. I doubt I'd ever believe either party if they promised an end to pork spending.

[mjcatl2]

Let's get rid of all partisan news....oh wait, that leaves us with nothing.

As mentioned, this is an opinion from a Republican writing in the conservative National Review.

This is NOT news. It is OPINION.

Fiscal responsibility, as we now fom the past 25 years means nothing to Republicans. As mentioned Reagan was irresponsible and the current Bush is wreckless with money (and policy in general).

This is going to be a problem in this country until our lovely elected "leaders" can learn how to CUT DISCRECIONARY NON-DEFENSE SPENDING!

.because there certainly is no abuse in defense spending, giving billions upon billions to overcharging incompetent contractors who happen to pump millions into the GOP.



Thanks for the entertainment everyone.


And the rightwing dumbing down of America continues.......