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Tax Cuts Blunder by Mitch McConnell, or Not, What do You think?
Mitch McConnell's position is that if the rich can't have their continued tax cut, then nobody should get one.
The G.W. Bush capital gains tax rates -- of the rich can't get the 15% rate, then the middle class shouldn't get it either.
My advice to Obama -- Just say yes! Ok Mitch you win. Taxes go up for everyone, the rich and the poor alike.
By the way folks, very very very few poor people pay capital gains taxes, very very very few.
Most poor people do not pay any taxes at all.
So their tax rates are entirely an academic proposition.
Obama wanted to raise the taxes on people over $200,000 but keep rates the same on people under $200,000.
This is not good enough for Mitch.
So Obama should just say -- yes Mitch you're right, let's raise taxes on everybody.
My folks will not pay one extra dime.
Your folks will pay a lot more.
And the stock market will crash totally -- because people with gains will sell now to get the 15% rate, then buy back after the wash sale rule -- maybe in Feb of 2012.
Obama actually does hate the Wall Street crowd, so the market means nothing to him.
What he wants is revenues for the Federal government, so it can stay in business as a going concern.
Mitch, did you overplay your hand?
What do you folks think?
That is my 1st Amendment protected question.
I'm asking a question here -- was this a blunder or not. If you think it was a marvelous move of wonderful intelligence you are fully free to give that answer, well backed up by reason, or not backed up at all. You are what you are. You do what you do. You say what you say. So now, have your say ..
10 Answers
- L.T.M.Lv 71 decade agoFavorite Answer
I'll put in my 2 cents what the hell. Mitch is technically right but it's election time so being right means little unfortunately. I say he's right because the real J.O.B. creators are the ones who will get nailed! This is about jobs right? Well maybe not since BO admitted during the campaign that lowering taxes actually increases $$$ to the feds. And in the same breath he said "yeah but that doesn't fit with my plans..uh..you know.. fairness and spreading the wealth around." But you're right about the politics, it's all about the spin when you're this close to an election. It's like healthcare takeover, the FACTS are just now starting to come out, and the critics were right all along.
- Anonymous1 decade ago
Lets define first of all who is rich in America today, Screw the tax cuts for now.
The greatest percentage of those earning 250,000 or slightly more will take it
straight in the shorts. These are the people mind you that actually spend money.
God for Fning bid. They buy the cars, shop at the malls, eat at the resturants,
travel a little, hire that employee once in awhile, have the house cleaned by that
illegal the left loves so much, donates a little money to the lesser fortunate, like
politicans and such, and now Obama wants to bend them over the clinton barrel
and stick it up their ***. So what is the bottom line here, The only people that
were capable to spend STOP all together. And now the asshole in the white house
has us where he wants us, by the nads. We will be somewhat beholding to government.
You may want to live that way, along with countless others who may want to live that
way, But I don't really care to. I'm no where near the 250,000 a year category, But
between my wife, myself and my horse training business, we damn near can breathe
on it. I work on average of 55 to 60 hours a week in all facets of my routines, Between
Sheriffs office, and My training program for the equine. My wife works 45 hours a week.
Having my business allows me certain perks tax wise, and I take advantage of every one
of them. So when I hear from buckwheat he wants us to pay more for the assholes I put
in jail every week. I get a little tense.
If anything should take place, go to a flat tax for everyone, including the lousy lazy ***
bastards who **** off and pay nothing every year. Then that way we can ring the bell for
fairness all the way around, Like Boehner said over the weekend. Let all the cuts go for
two more years, then let them both expire and raise up. Give the majority of the middle
class a chance to protect themselves. Just a thought,
- 1 decade ago
Who's having their TAXES CUT; I thought "the conversation" was about RAISING TAXES on The Evil Rich. That IS "the conversation", right? Then say so! Stop already with the Soviet-style circumlocutions. Even Raul Castro came out today and told the truth about the failed state he runs, Cuba; you might try the same kind of honesty as the Communist dictator has shown he has.
- ?Lv 45 years ago
No you're no longer conscious that tax cuts are so good for the economy that the enhance they spurt reason tax gains. you're additionally unaware that over taxation reduces the inducement human beings would desire to hire, paintings, start up or strengthen present companies
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- zanad mLv 41 decade ago
sounds like mitch is caght between a rock and a bunch of democrats waiting to run adds saying "hes against tax cuts for the poor...".
honestly, overall I think that tax cuts alone have less to do about stimulating the economy and more about a promise ("that the governement will not interfere")through tax cuts.
- Anonymous1 decade ago
Nope ... Have Obama bring it if the market crashes as you say no one will remember Mitch. But the will remember Obama. and the democrats.
- Robert TLv 61 decade ago
Yes , they both want to spend it in to many of the wrong places on the wrong people. (other countries). They don't have the authority or the right to do so. They know this and yet they persist to commit TREASON!
- 1 decade ago
you know what else very very very very very very few poor people pay tax period! Pretty hard to give people who don't pay taxes a tax cut.
- Anonymous1 decade ago
No blunder yet.