When Will the New House Republicans Start Working on Creating Jobs?

According the the over-Fed gov't any business open to the public automatically ceases to be private sector (CRA '64), so I'm sure some would claim the legal ground to do just that.

 

Right after Obama and the Senate Democrats are kicked to the curb in Nov 2012. Unless the economy and jobs substantially improve, it's going to happen. No President has ever been re-elected with unemployment over 8%.

 

Obamageddon: "Debt man walking"

I liked Obama in My Favorite Martian.

 

Bailing the boat while President Obama is poking more holes is kind of pointless. When will President Obama quit threatening to raise taxes and quit unrestrained regulations of, well, everything.

 

The only billionaire that I respect is Warren Buffett because he is the only honest billionaire. He made a statement that made a lot of sense that billionaires should pay more taxes and that the Republicans have been coddling the billionaires too long. And if this country is ever going to bring the deficit down, billionaires have to pay their fair share of taxes. Obama has to continue going after these people and corporations that have so many loopholes to prevent from paying taxes. Just look at O'Reilly of Fox news. He is a millionaire and cries more about paying taxes then any reporter I have ever listened to, or maybe he just likes to brag that he is a millionaire and has his money out of the country so that he does not have to pay taxes. What a jerk!

 

BWAAAHAHAHA!!
How much extra did he voluntarily send to the IRS after making that statement? He can, y'know.

http://www.fms.treas.gov/faq/moretopics_gifts.html

 

http://www.treasurydirect.gov/govt/resources/faq/faq_publicdebt.htm#DebtFinance

 

Kinda like giving a homeless wino $20 bucks and expecting them to buy food.

 

I worked and retired from one of the many companies Warren Buffett owns, and he has always been a very generous person. His statement that other billionaires should pay their fair share of taxes instead of crying so much and evading their duty to pay their fair share.
I don't know what is so hard for some of you to understand that he is not asking to give the money away. He is just saying to contribute to the country that made them billionaires, by paying their fair share of taxes just like all of us do.

 

I suppose if that was actually their job...than they would be doing it.

 

Others? Not himself? I don't recall him accusing other billionaires of crying, either, only that the gov't should force him and other billionaires to pay more taxes, presumably because he lacks the self-discipline and fortitude to pay his own "fair share" on his own.

 

Buffet should do that. . . just as soon as millionaire Michelle Bachmann either stops complaining about government spending or stops cashing her government paychecks.

 

Yeh sure ... that's a clear parallel.

 

you need the hangover first....after the housing boom ( the drinking binge) you now need the hangover...the problem is people want something for nothing...it dont work that way.......you had the party and got drunk.....now you need the hangover...its that simple....until the system purges you wont have a meaningfull recovery!

 

Yea, it is actually. Especially when Bachmann has made never held long term private employment and has always made her money off the public doll.

 

If Buffet is the ONLY one paying his fair share it wont make a difference. He is making a statement that the current tax code is unsustainable... he is being a patriot.. a hell of alot more than people fighting for tax cuts while this nation is falling apart.

 

So he shouldn't even make the gesture? You're right, he is making a statement. He is only making a statement.

What would make a bigger impact: Buffet saying the gov't should take his money so we can all laugh at his empty words, or Buffet making a big deal of giving a few hundred mil to the gov't and challenging all right-(meaning left)thinking rich people to follow suit? Which is more patriotic?

Oh, and can you guess what would be even more patriotic than fighting for higher taxes? Fighting for lower spending.

 

The Bush tax cuts resulted in the top earners paying more in actual revenues and a higher percentage of taxes.

How is that coddling them?
Mr. Buffet is NOT a tax expert nor economist, he is a stock picker. He is also free to send in more money to the treasury if he believes he is not paying his "fair share".

Warren Buffett’s Taxing the Rich Won't Solve Deficit, Says Tax Foundation

Taxing millionaires and billionaires more – a position advocated by billionaire Warren Buffett and President Barack Obama – won’t make much of a dent in the national debt or the record federal budget deficits, a new study finds.
“Even taking every last penny from every individual making more than $10 million per year would only reduce the nation's deficit by 12 percent and the debt by 2 percent,” the non-partisan Tax Foundation’s David Logan writes.
“There's simply not enough wealth in the community of the rich to erase this country's problems by waving some magic tax wand,” said Logan.
Buffett, in an August 15 op-ed in the New York Times said it was time to stop “coddling” the wealthy and called on Congress to raise taxes on those making $1 million or more.
“But for those making more than $1 million there were 236,883 such households in 2009 I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more there were 8,274 in 2009 I would suggest an additional increase in rate,” Buffett wrote.
“My friends and I have been coddled long enough by a billionaire-friendly Congress,” wrote Buffett.
However, according to the Tax Foundation study written by Logan, even taxing the nation’s millionaires at 50 percent – even eliminating loopholes and deductions – would only reduce the deficit by 8 percent and the national debt by 1 percent.
“[T]aking half of the yearly income from every person making between one and ten million dollars would only decrease the nation's debt by 1%,” the report said.

Taxing millionaires at an effective tax rate of 50 percent would raise only $120 billion more, according to Tax Foundation calculations based on IRS data.
Taxing those who make $10 million or more at an even higher rate, as Buffett advised, would also do little to reduce the deficit and debt. Tax Foundation calculations indicate that taxing these individuals at an effective rate of 100 percent would only net the government $186 billion, reducing the deficit by 12 percent and the debt by an additional 2 percent.
In fact, the only way for the government to solve its fiscal issues with revenue would be to confiscate every single dollar from every single American making $200,000 or more per year, the study said.
“Finally, to put everything in perspective, think about what would need to be done to erase the federal deficit this year: After everyone making more than $200,000/year has paid taxes, the IRS would need to take every single penny of disposable income they have left. Such an act would raise approximately $1.53 trillion,” reported the Tax Foundation.
Buffett, in his New York Times op-ed, said, “It’s time for our government to get serious about shared sacrifice.”

http://www.cnsnews.com/news/article/warren-buffett-s-tax-solution-won-t-solv

The top 1% pays about 38% of income taxes, if that is not their fair share what is. What is the fair share of the bottom 50%?

They are legal tax deductions just as much as your mortgage and medical and individual deductions are. Why shouldn't they take them?

 

Government can't create jobs. The best it can do is get out of the way so hard working Americans can succeed.

 

Yup! I knew a Rain at a different forum. Are you her?

 

No, I'm HIM!

Got it because I like to ride my Harley in the rain. Wouldn't mind raining on Obama's parade either.

 

To put everything into perspective...
The top 20% of households, those making over $200,000 a year, receive over half of national personal income each year, or about $7Trillion in 2011.

Their after tax income is around $4.8Trillion so getting them to cough up another $1.2 Trillion to eliminate the deficit does not seem that impossible.

I don't know where the Tax Foundation gets its data from but mine is from the Census Bureau and the Bureau of Economic Analysis.

 

Why is it the respobsibilty of the rich and successful to pay off the debt that politicians created? Why do they deserve more of a burden than everyone else?

 

That was a little harsh don't you think?

Another $1.2T would be almost 1/3 of what they have left. Where would you suggest it stop? When do people have to start taking responsibility for themselves?

Disclaimer: I don't claim to be an economist or an English professor. But I have been blessed with common sense, an exceptional work ethic and an extraordinary appreciation of and willingness to defend freedom.

 

There is a fine difference and I am a great speller... it was a simple mistake.

Why don't you debate the points instead of side-tracking?