Azelma wrote:
Eturnalshift wrote:
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At some point in your life, you're going to realize that economic and political policy isn't about helping the individual constituent, but rather society as a whole. Yes, Obama wants to freeze those evil Bush tax cuts (that he blames for all his defecit problems) at their current rates for everyone, except for those making over 200K/250K a year. Those rates would jump to 36 and 39%. Romney, as you pointed out, wants to give millionaires a tax cut. But, it get's better... he's not singling out a specific social class for tax cuts. He wants to reduce the tax rates of ALL income earners by 20%. High income earners would have a 20% reduction in their tax rate, and low income earners would have a 20% reduction in their tax rate. The fact is Romney's plan is designed in a way that let's all income earners keep more of their money, while Obama hopes to suck from the upper-classes to provide more for the lower classes.
Look at it from percentages.
What is 20% of 1,000,000?
What is 20% of 1,000?
Ok, let's look at percentages.
What is 3% of 1,000,000?
What is 0% of 1,000?
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Do you think everyone will benefit just as much with a unilateral taxcut? I don't think so. My parents got about $600 more back because of the Bush Tax Cuts. That's it. It was gone once we bought some gas, and some food, and went out to a family dinner at Longhorn Steakhouse. Did it really help us that much? How much did it help families making much, much more?
Your parents worked for that money, so I criticize them on how they spent what they earned. One thing you need to remember is that some of the higher income earners in America
are small business owners, and those small business owners don't always file their taxes at the corporate level. Instead, they file at the individual level, and those people would be impacted by an increase in tax rates. You're a small business owner. What happens if I take $40, instead of $35, for every $100 your business earns? What if the people/companies who purchase supply and service from you now have less to invest in your company, because the government is taking more?
Edit: Was just thinking about something... if a $600 gain wasn't much for your parents, would they be willing to lose an additional $600? It's only $600, after all.
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As for disagreeing with Romney, I think the capital gains tax system is broken. And yes, I'm a small business owner who has been a part of asset sales. I think it should be higher and taxed much closer to a regular income tax.
Ok. Elderly and retired people who rely on capital gains are going to be taxed more? What about Romney's plan don't you like? Current capital gains rates will be kept at their current rates, unless you make under $200K/yr, then you won't have a capital gains tax. That's good for anyone interested in investing their money in businesses (which is a good thing) and it helps those who are nearing retirement, or are at retirement, because they'll have more money to live on.
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I disagree with his plans to keep tax breaks for huge corporations that do business overseas. Small businesses have to pay full taxes on their profits, yet huge corps like GE, BP, etc. get to pay nothing in taxes.
This is one thing I always liked about John Edwards -- give incentive to businesses to grow in America and not overseas. As such, Romney wants to reduce the corporate tax rate to 25%, from the 38% range. This would take our countries corporate tax rate (which is second to Japan for highest, I believe) lower than many, and competitive with most. Wouldn't that be good for businesses to come back home? Also, what don't you like about his territorial tax plan?
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I disagree with an overwhelming majority of Romney's social views.
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I disagree with Mittens/Paul Ryan's love of the military. We are running in a defecit, and the GOP wants to cut education and healthcare...simply ignoring our bloated military budget. Does this make sense to you?
No, it doesn't.
Adding an additional 1.6T entitlement to the debt via Obamacare doesn't make sense.
Raising taxes on small businesses doesn't make sense.
Having policy which hasn't created job growth to keep pace with people dropping out of the employment market doesn't make sense.
Not having a budget for three years doesn't make sense.
Putting confidence in a man whose budget was unanimously defeated in both the House and the Senate makes no sense.
If your real concern is about the deficit and you're willing to ride this out with Obama, you're a fool. You need to do something to spur faster better growth, promote job creation, while finding ways to cut waste while generating more revenue. I don't see how Obama's plan (which is pretty much the same thing he's been doing in office) is somehow going to make that magically happen when it hasn't already.
