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This room is for the discussion of current events,cultural issues and politics especially in relation to Catholic values.

Saint Thomas More was martyred during the Protestant Reformation for standing firm in the Faith and not recognizing the King of England as the Supreme Head of the Church.
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11/13/2012 new

The Republican governor of Lousiana said something smart about the party: www.politico.com

“We’ve got to make sure that we are not the party of big business, big banks, big Wall Street bailouts, big corporate loopholes, big anything,” Jindal told POLITICO in a 45-minute telephone interview. “We cannot be, we must not be, the party that simply protects the rich so they get to keep their toys.”
......


Declaring that Republicans “can’t be beholden to special interests or banks,” the successor to Huey P. Long indicated support for provisions in the Dodd-Frank law, which requires banks to increase their reserves to prevent future taxpayer-funded bailouts.

Even more notably, Jindal suggested he’d look favorably on something akin to the “Volcker rule.”
.


Seems right to me. If the Republicans would drop the insistance that taxes can never go up (despite crocodile tears about the deficit), and instead advocate tax DECREASES for the "job creators" in the top 1%.


If they would drop this stupid idea that capital gains should be taxed at a lower rate than earned income. If they would kick Grover Norquist to the curb....

Maybe they could gain some respect. At least from moderates like me. Then again, I'm not Hispanic so maybe they don't care about me.


11/13/2012 new

(Quote) Cathy-620979 said: The Republican governor of Lousiana said something smart about the party: http://www.politico.com...
(Quote) Cathy-620979 said:

The Republican governor of Lousiana said something smart about the party: www.politico.com

“We’ve got to make sure that we are not the party of big business, big banks, big Wall Street bailouts, big corporate loopholes, big anything,” Jindal told POLITICO in a 45-minute telephone interview. “We cannot be, we must not be, the party that simply protects the rich so they get to keep their toys.”
......


Declaring that Republicans “can’t be beholden to special interests or banks,” the successor to Huey P. Long indicated support for provisions in the Dodd-Frank law, which requires banks to increase their reserves to prevent future taxpayer-funded bailouts.

Even more notably, Jindal suggested he’d look favorably on something akin to the “Volcker rule.”
.


Seems right to me. If the Republicans would drop the insistance that taxes can never go up (despite crocodile tears about the deficit), and instead advocate tax DECREASES for the "job creators" in the top 1%.


If they would drop this stupid idea that capital gains should be taxed at a lower rate than earned income. If they would kick Grover Norquist to the curb....

Maybe they could gain some respect. At least from moderates like me. Then again, I'm not Hispanic so maybe they don't care about me.

--hide--

One of the problems with taxing capital gains is that a lot of those capital gains are phantom gains. That is, the increase in value merely reflect the inflation or debasement of the currency. Debasement of the currency is the cruelest tax Government imposes on all of us.

The probelm with trying to eliminate the tax on those phantom gains and tax only the real capital gains is that the tax code, dealing whit the issue would be so complex as to be unworkable. By taxing all gains real and unreal at a lower rate keeps that issue, law wise, on a simpler level.

BY the way, Cathy, one of the man attacking points against Republicans is that they do want to do exactly what you are advocating; decrease taxes on the top 1% who are the job creators. I might disagree that it is only the top 1% who create jobs.

11/13/2012 new

No, I don't want taxes cut for the top 1%. I want them to go up. I meant to imply that it is some Republicans who want to cut taxes further.

11/13/2012 new

(Quote) Paul-866591 said: One of the problems with taxing capital gains is that a lot of those capital gains are ph...
(Quote) Paul-866591 said:

One of the problems with taxing capital gains is that a lot of those capital gains are phantom gains. That is, the increase in value merely reflect the inflation or debasement of the currency. Debasement of the currency is the cruelest tax Government imposes on all of us.

The probelm with trying to eliminate the tax on those phantom gains and tax only the real capital gains is that the tax code, dealing whit the issue would be so complex as to be unworkable. By taxing all gains real and unreal at a lower rate keeps that issue, law wise, on a simpler level.

BY the way, Cathy, one of the man attacking points against Republicans is that they do want to do exactly what you are advocating; decrease taxes on the top 1% who are the job creators. I might disagree that it is only the top 1% who create jobs.

--hide--


Frankly, I think it's just way overdue to overhaul/simplify the entire tax code. You could probably virtually eliminate (or at least vastly downsize the IRS). Of course, think of the lawyers and tax accountants you would put out of work. But, since my opinion of most lawyers is extremely low, I would not object to that. As for tax accountants, I suspect they coud do other accounting work.

11/13/2012 new

(Quote) Patricia-29176 said: Frankly, I think it's just way overdue to overhaul/simplify the entire tax code. Yo...
(Quote) Patricia-29176 said:



Frankly, I think it's just way overdue to overhaul/simplify the entire tax code. You could probably virtually eliminate (or at least vastly downsize the IRS). Of course, think of the lawyers and tax accountants you would put out of work. But, since my opinion of most lawyers is extremely low, I would not object to that. As for tax accountants, I suspect they coud do other accounting work.

--hide--

Amen!

I would be in favor of taxing personal income and capital gains at the same rate, simplifying things even further. That would make the Democrats hesitant to raise rates, as it is unwise for the tax on capital gains to be too high. The taxes on capital gains would go up to match the rates on personal income, which would be somewhat lowered (like in the tax reform of 1986). The rich probably would accept that bargain in return for eliminating corporate taxes. Eliminating the corporate code altogether would eliminate huge compliance costs we have now and be a boon to business. Eliminate or cap deductions for the high income earners especially (should happen naturally if the tax code is vastly simplified) and the rich would probably start "paying a little more," to use Obama's phrase.

Too bad such issues were not discussed in the general campaign.

11/13/2012 new

(Quote) Cathy-620979 said: The Republican governor of Lousiana said something smart about the party: http://www.politico.com...
(Quote) Cathy-620979 said:

The Republican governor of Lousiana said something smart about the party: www.politico.com

“We’ve got to make sure that we are not the party of big business, big banks, big Wall Street bailouts, big corporate loopholes, big anything,” Jindal told POLITICO in a 45-minute telephone interview. “We cannot be, we must not be, the party that simply protects the rich so they get to keep their toys.”
......


Declaring that Republicans “can’t be beholden to special interests or banks,” the successor to Huey P. Long indicated support for provisions in the Dodd-Frank law, which requires banks to increase their reserves to prevent future taxpayer-funded bailouts.

Even more notably, Jindal suggested he’d look favorably on something akin to the “Volcker rule.”
.


Seems right to me. If the Republicans would drop the insistance that taxes can never go up (despite crocodile tears about the deficit), and instead advocate tax DECREASES for the "job creators" in the top 1%.


If they would drop this stupid idea that capital gains should be taxed at a lower rate than earned income. If they would kick Grover Norquist to the curb....

Maybe they could gain some respect. At least from moderates like me. Then again, I'm not Hispanic so maybe they don't care about me.


--hide--


Great - all we need now is another Repub Gov. with no guts. 48% of the country now doesn't even pay income tax and the top 5% are footing most of the bill. Is that your definition of fair share. How about a flat tax where we all pay the same rate.

By the way, Big Government is plenty big business and the liberals are great at it. Most of the democrat politicians are millionaires a few times over but they get credit for spreading around other people's money.

Republicans won't win by acting like democrats.

11/13/2012 new

(Quote) Patricia-29176 said: Frankly, I think it's just way overdue to overhaul/simplify the entire tax code. Yo...
(Quote) Patricia-29176 said:



Frankly, I think it's just way overdue to overhaul/simplify the entire tax code. You could probably virtually eliminate (or at least vastly downsize the IRS). Of course, think of the lawyers and tax accountants you would put out of work. But, since my opinion of most lawyers is extremely low, I would not object to that. As for tax accountants, I suspect they coud do other accounting work.

--hide--

It should be a flat tax rate of 10 percent for all and then those who suffer from the one of the ten deadly sins...envy....can be happy because the rich will be paying more since they will be taxed the same rate as everyone else fairly but make more thus pay more.

11/13/2012 new

(Quote) Paul-866591 said: One of the problems with taxing capital gains is that a lot of those capital gains are ph...
(Quote) Paul-866591 said:

One of the problems with taxing capital gains is that a lot of those capital gains are phantom gains. That is, the increase in value merely reflect the inflation or debasement of the currency. Debasement of the currency is the cruelest tax Government imposes on all of us.

The probelm with trying to eliminate the tax on those phantom gains and tax only the real capital gains is that the tax code, dealing whit the issue would be so complex as to be unworkable. By taxing all gains real and unreal at a lower rate keeps that issue, law wise, on a simpler level.

BY the way, Cathy, one of the man attacking points against Republicans is that they do want to do exactly what you are advocating; decrease taxes on the top 1% who are the job creators. I might disagree that it is only the top 1% who create jobs.

--hide--
My understanding is that capital gains were already taxed...this money was reinvested money that was already taxed...kind of like my retirement...when I had to take it out early to survive they taxed a *** of a lot of it though it was my money/retirement.....why are we advocating taxing them twice.

11/13/2012 new

(Quote) Cathy-620979 said: The Republican governor of Lousiana said something smart about the party: http://www.politico.com...
(Quote) Cathy-620979 said:

The Republican governor of Lousiana said something smart about the party: www.politico.com

“We’ve got to make sure that we are not the party of big business, big banks, big Wall Street bailouts, big corporate loopholes, big anything,” Jindal told POLITICO in a 45-minute telephone interview. “We cannot be, we must not be, the party that simply protects the rich so they get to keep their toys.”
......


Declaring that Republicans “can’t be beholden to special interests or banks,” the successor to Huey P. Long indicated support for provisions in the Dodd-Frank law, which requires banks to increase their reserves to prevent future taxpayer-funded bailouts.

Even more notably, Jindal suggested he’d look favorably on something akin to the “Volcker rule.”
.


Seems right to me. If the Republicans would drop the insistance that taxes can never go up (despite crocodile tears about the deficit), and instead advocate tax DECREASES for the "job creators" in the top 1%.


If they would drop this stupid idea that capital gains should be taxed at a lower rate than earned income. If they would kick Grover Norquist to the curb....

Maybe they could gain some respect. At least from moderates like me. Then again, I'm not Hispanic so maybe they don't care about me.


--hide--
Democrats are just as part of big business...planned parenthood for instance...billionaire business made off of dead babies..."sleeps" with the democratic party especially Obama...supports him not only monetarily but campaigns for him as well. Many other examples to be had too. The difference is they have the media working for them to make the republicans look like the only ones and so after this election this governor is "selling out" to look good. Fact is there have already been a lot of businesses that are cutting employers...Mary previously posted sites showing this....they said they had to make up for the tax increase. Looks like they plan on putting the Church out of business too and it provided many jobs. Perhaps we will just have to go in to a recession worse than the great depression for people to get it...you take money away from businesses and they don't hire or they go some place cheaper to produce their products....this just doesn't take a genius to figure out. Flat tax rate is the only fair thing to do, period.

11/13/2012 new

I hate to say that I was right but I am already hearing from the die-hard socialist liberal party (previously the democrats) that the republicans don't want to tax those millionaires. I said that they are going after the house in the 2014 election by having the liberal news bombard their watchers with this message and sure enough my parents' friends began reciting it tonight. As soon as I started hearing it on the news, I knew it.

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