Bush & Treasury Secretary Paulson Want Tax "REFORM" -- Just Not For YOU!
Dr. Cavortian
and equitable bill in the works to achieve the kind of honest tax
reform that your seedy Congressional Republicans don't want for
America's middle-and lower-classes.
The Repubs, "led" of course by your White House war criminal -- after
giving away the nation's largest-ever surplus, ushering in the current
sub-prime mortgage crisis through ill-advised Federal Reserve interest
rate cuts, all the while gifting the wealthiest 5-percent of tax-non-
payers with giant tax cuts -- the "administration" doesn't want to
reform the tax code if its aim is to merely achieve fairness.
-----
"Tax Reform, Anyone?"
By Steven Pearlstein
The Washington Post
Sunday, October 28, 2007; F03
Leave it to Charlie Rangel to come up with a tax bill that is both
good policy and great politics.
The "mother of all tax bills" announced last week by the chairman of
the House Ways and Means Committee would shield millions of middle-
class families from the dreaded alternative minimum tax, which would
more than wipe out whatever benefit they received from the Bush tax
cuts. Rangel also proposes to increase wage subsidies to the working
poor by expanding the earned-income tax credit.
You would have thought Republicans would have a hard time opposing
such ideas. But because Rangel proposes to pay for his AMT fix by
repealing the Bush marginal income tax cuts for households with
incomes above $200,000 a year, and by closing tax loopholes enjoyed by
managers of private equity and hedge funds, Republicans immediately
cranked up their Big Lie machine and attacked Rangel's proposal as the
"biggest income tax cut in history."
What part of "revenue neutral" don't they understand?
Even more ingenious was Rangel's decision to call the bluff of
Treasury Secretary Hank Paulson, who has been bellyaching about the 35
percent corporate tax rate and how it hurts U.S. competitiveness.
Rangel's offer is to reduce the corporate rate to 30.5 percent, but
pay for it by repealing a bunch of special-interest tax breaks bought
and paid for by oil and pharmaceutical companies and large
multinationals who park their profits in offshore tax havens.
This is the classic formula for tax reform supported by every tax
expert and blue-ribbon commission: Lower tax rates while broadening
the base of income that is being taxed. But Paulson wasted no time in
denouncing it, claiming -- without offering a shred of evidence or a
plausible economic logic -- that this reshuffling of the corporate tax
burden would "hurt the ability of our businesses and workers to
compete in the global economy."
Another Big Lie.
If Democrats were any good at the political game, they would know how
to use the Rangel proposal against Republicans who would rather impose
a tax increase on emergency-room doctors with college tuition to pay
than on hedge-fund traders with offshore bank accounts, and would
rather give tax breaks to Pfizer and Chevron than to software firms
and auto dealerships.
Unfortunately, too many of Rangel's Democratic colleagues have neither
the courage nor the political skills to stand behind their chairman.
Their silence says it all. No wonder, then, that 10 months after
taking control of both houses of Congress, the public has concluded
that Democrats are no more effective in running the place than the
crowd they replaced.
--------------------------
"Mortgage Crisis, Take 2"
Could it be that the next domino to fall in the credit crisis will be
commercial real estate?
There was a hint of that last week when the Financial Times reported
that the Carlyle Group was having trouble nailing down financing for
its $6.3 billion purchase of Manor Care. The deal involves $4.6
billion in bonds that would be backed by the nursing home's real
estate -- normally pretty standard stuff. But over the last week, the
"spreads" on such commercial mortgage-backed securities -- the
interest rate demanded by the lenders above the rate on no-risk
Treasury bonds -- have increased by more than a percentage point.
That's a huge jump. It puts the deal's underwriters, J.P. Morgan and
Lehman Brothers, in a bind, because they had provided Carlyle with a
firm rate-cap guarantee. But they shouldn't expect much sympathy from
Carlyle. During a recent visit to The Washington Post, Carlyle's top
executives said any losses the bankers now face would be more than
covered by the enormous fees they earned during the good times.
http://www.washingtonpost.com/wp-dyn/content/article/2007/10/27/AR2007102700117.html
Paul Maffia
world. Really workable, but only in the so called minds of idiots.
"Dr. Cavortian" <kin...@yahoo.com> wrote in message
news:1193594590.8...@50g2000hsm.googlegroups.com...
The Pretzel
> On Sun, 28 Oct 2007 12:18:48 -0700, "Paul Maffia"
> <pma...@centurytel.net> wrote:
>
>> Right, by enacting the largest single tax increase in the history of the
>> world. Really workable, but only in the so called minds of idiots.
>
> largest ever". I mean you lie with such abandon and ease. You never
> question the lie you're told to repeat.
>
> It's truly amazing.
>
> Please give us an analysis of Rangel's tax increase to support your
> statement. I'd be please if you could even demonstrate you know even
> the large brush picture of his proposal. I doubt you know anything
> about it, but are only to readily to lie about it regardless.
The REAL tax increase was the unnecessary Iraq war AND occupation that
followed.
$2.4 Trillion is the latest projection while king georgie iv asks for
another
$200 Billion and a few more American lives. 3500 Americans have paid the
ultimate tax,
27,000 a pretty HUGE one and Rightards nation wide bitch and complain
about a 4.6% increase
for people rakingin' more then $200,000 a year. Yup. All Rightards know
how to do is whine and say
"Gimme-gimme-gimme Mine mine MINE!!!" Whine, whine whine."
Rightards WANTED this war. Rightards now have it. Now WE have to PAY for
the fucking thing. All I hear are the Rightards complaining about PAYING
for it.
The Trucker
> On Sun, 28 Oct 2007 12:18:48 -0700, "Paul Maffia"
> <pma...@centurytel.net> wrote:
>
>>Right, by enacting the largest single tax increase in the history of the
>>world. Really workable, but only in the so called minds of idiots.
>
> I love how in the minds of you wing nuts every tax increase is "the
> largest ever". I mean you lie with such abandon and ease. You never
> question the lie you're told to repeat.
>
> It's truly amazing.
What's really amazing is that the article says that the Repukes are
calling it "biggest income tax cut in history." Are these people so brain
dead that they can't even repeat the lie????
> Please give us an analysis of Rangel's tax increase to support your
> statement. I'd be please if you could even demonstrate you know even
> the large brush picture of his proposal. I doubt you know anything
> about it, but are only to readily to lie about it regardless.
Yep.
--
"I know no safe depository of the ultimate powers
of society but the people themselves; and
if we think them not enlightened enough to
exercise their control with a wholesome
discretion, the remedy is not to take it from
them, but to inform their discretion by
education." - Thomas Jefferson
http://GreaterVoice.org/extend
Paul Maffia
own numbers) would be the largest, single increase in taxes the world has
ever seen.
He proposes lowering taxes on corporations to help them be competitive vis a
vis the rest of the world; and proposes doing away with the AMT which is
becoming a nightmare for the middle class, but offsets those cuts by
increasing individual taxes.
What universe to boobs like you live in?
<retro...@comcast.net> wrote in message
news:s3p9i3ln1u4mrj457...@4ax.com...
> On Sun, 28 Oct 2007 12:18:48 -0700, "Paul Maffia"
> <pma...@centurytel.net> wrote:
>
>>Right, by enacting the largest single tax increase in the history of the
>>world. Really workable, but only in the so called minds of idiots.
>
> I love how in the minds of you wing nuts every tax increase is "the
> largest ever". I mean you lie with such abandon and ease. You never
> question the lie you're told to repeat.
>
> It's truly amazing.
>
Obwon-Gandalf-Hope IV
It never fails to amaze me how "ordinary" Repubs, i.e., those without
inherited or Walll Street-papered wealth, always come forth to
criticize ANY PROPOSAL that's aimed at tax relief for the middle and
lower classes.
To which THEY undoubtedly belong! Not that they'd reveal such
membership.
And it's not as if the rich people, like their WHITE HOUSE WAR
CRIMINAL, would EVER back any legislation or program that would
benefit their ordinary Repub "defenders."
Laughable.
***
bigTITS
It never fails to amaze me how "ordinary" Repubs, i.e., those without
inherited or Wall Street-papered wealth, always come forth to